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NIU

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2026-07-18
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2026-07-13
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Earnings documents stored for NIU.

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Investor releaseQuarter not tagged2026-07-13

Niu Technologies to Report Second Quarter 2026 Financial Results on August 10, 2026

GlobeNewswire

BEIJING, July 13, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced that it will report its financial results for the second quarter 2026 before the U.S. market opens on Monday, August 10, 2026. The corporate presentation and financial spreadsheets will be posted on NIU’s investor relations website at:https://ir.niu.com/financial-information/quarterly-results The Company will host an earnings conference call on Monday, August 10, 2026 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) to discuss the financial and business results. To join via phone, participants need to register in advance of the conference call using the link provided below. Upon registration, participants will receive dial-in numbers and a personal PIN, which will be used to join the conference call. A live and archived webcast of the conference call will be available on the investor relations website at https://ir.niu.com/news-and-events/webcasts-and-presentations About NIU As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, NIU offers two model lineups, comprising a number of different vehicle types. These include (i) the electric motorcycle, moped and bicycle series, including the NQi, MQi, UQi, FQi series and others, and (ii) the micro-mobility series, including the kick-scooter series KQi and the e-bike series BQi. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services to users. For more information, please visit www.niu.com. Investor Relations Contact: Niu TechnologiesE-mail: [email protected]

Investor releaseQuarter not tagged2026-07-03

Niu Technologies Provides Second Quarter 2026 Sales Volume Update

GlobeNewswire

BEIJING, July 03, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today provided its sales volume results for the second quarter of 2026. In the second quarter of 2026, NIU sold 434,687 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes. Sales in the China and international markets were 402,202 and 32,485 units, respectively. In China, sales volume increased by over 25% year-over-year, driven by continued demand for our core models and recent new product launches. During the quarter, we continued to advance our intelligent mobility strategy through deeper ecosystem collaboration with leading technology companies, integrating AI-enabled riding features into more practical riding scenarios and further strengthening the smart riding experience. Our NX 2026 model, positioned as a preferred long-range electric motorcycle, resonated strongly with consumers, reflecting market recognition of its real-world range and overall value proposition. In overseas markets, we maintained a disciplined operating approach amid an uneven external environment, with a continued focus on improving operational efficiency and prioritizing key markets to support sustainable long-term development. Our sales volume count disclosed above is based on the delivery from our manufacturing facility, which may vary slightly from the sales volume measured from a financial accounting and reporting point of view. NIU’s sales volume represents only one measure of the Company’s financial performance and should not be relied upon as an indicator of quarterly financial results, which depend on a variety of factors, including revenues from accessories, spare parts and services, cost of sales, operating expenses, etc. About NIU As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, NIU offers two model lineups, comprising a number of different vehicle types. These include (i) the electric motorcycle, moped and bicycle series, including the NQi, MQi, UQi, FQi series and others, and (ii) the micr...

Investor releaseQuarter not tagged2026-06-17

Niu Technologies (NIU) Q1 2026 Earnings Call Highlights: Strong Domestic Growth Amid ...

GuruFocus.com

This article first appeared on GuruFocus. Release Date: May 18, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Niu Technologies (NASDAQ:NIU) reported a 28.7% year-over-year increase in total sales volume, reaching 261,000 units. Revenue for the quarter increased by 33.4% year-over-year, reaching RMB909.52 million. Sales volume in China increased by 35.4%, driven by a significant breakthrough in the electric motorcycle segment. The company successfully expanded its footprint into Tier 2 and Tier 3 cities, marking a strategic milestone. Niu Technologies (NASDAQ:NIU) launched the industry's first AI-enabled electric bicycles, the NXT2 Ultra, showcasing its commitment to innovation. Overseas sales declined by 32.4%, reflecting challenges in international markets. The electric bicycle segment experienced a contraction due to new national standards. The company reported a net loss of $94 million for the quarter, with a net loss margin of 10.3%. Operating expenses increased by 60% year-over-year, driven by intensified marketing initiatives. The micromobility segment saw a 37% year-over-year decline in international sales, impacting overall performance. Warning! GuruFocus has detected 3 Warning Signs with NIU. Is NIU fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide an overview of Niu Technologies' sales performance in the first quarter of 2026? A: CEO Dr. Yan Lee reported that the total sales volume reached 261,000 units, marking a 28.7% year-over-year increase. Revenue for the quarter was RMB909.52 million, up 33.4% year-over-year. In China, sales volume increased by 35.4% to nearly 248,000 units, driven by a breakthrough in the electric motorcycle segment. However, overseas sales declined by 32.4% due to channel structure optimization and inventory management. Q: What strategic initiatives did Niu Technologies undertake in Q1 2026? A: CEO Dr. Yan Lee highlighted several strategic initiatives, including front-loading investments in branding, R&D, and new product launches. The company executed major branding campaigns, including appointing global ambassadors and launching a Spring Festival saturation campaign. Additionally, they introduced the next-generation AI mobility strategy, focusing on AI operating systems and intelligent chassis systems. Q: How did Niu Technologies' pr...

Investor releaseQuarter not tagged2026-06-02

Niu (NIU) Q4 2025 Earnings Call Transcript

Motley Fool

Image source: The Motley Fool. Monday, March 16, 2026 at 8 a.m. ET Chief Executive Officer — Yan Li Chief Financial Officer — Wenjuan Zhou Yan Li: Thank you, Kristal, and hello, everyone. Thank you for joining our fourth quarter 2025 result call. 2025 was a year of continued strategic transformation for Niu. We navigate a complex regulatory shift in China, executed a successful breakthrough in electric motorcycle segment and overhaul our international distribution for micro mobility, all while significantly expand our gross margins. While our fourth quarter volume reflect the temporary friction inherent in those structural changes, the robust foundation we have built positions us perfectly for accelerated high-quality and profitable growth in 2026. Now let's turn to the numbers. In the fourth quarter, we delivered 172,000 (sic) [ 172,763 ] units, represents a 23.8% year-over-year decline. This comprised of 158,782 units in China, down 12% (sic) [ 12.9% ] year-over-year, and close to 14,000 units overseas, down 68% (sic) [ 68.4% ] year-over-year. I want to spend a minute to dive deep in both figures as they are direct results of a proactive strategic transition we outlined earlier this year. First, regarding the China market. This decline was fully anticipated results of the transition to the new national standards for the electric bicycles. As we highlighted in our previous call, production of old standard models ceased on August 31, while the retail window closed on November 30. This led to a significant inventory front-loading by our distributors and retailers in Q3 2025. Naturally, this puts the sales forward, temporarily reducing our selling volumes for Q4. However, if we evaluate the second half of 2025 as a whole, our China deliveries actually grew 38% year-over-year, confirming that our continued growth momentum for the entire year. Now turning to our overseas performance. The volume decline was deliberately driven by a strategic realignment of our micro mobility channels. In the key markets like the U.S. and Germany, we have transitioned away from a traditional distributor-led model in favor of direct-to-retailer partnerships. While this structure shift meant our formal distributors pause orders to clear legacy inventories, it is a necessary evolution. It allowed us to capture higher margins and establish a closer, more agile relationship with our cu...

Investor releaseQuarter not tagged2026-05-27

Niu (NIU) Q1 2026 Earnings Call Transcript

Motley Fool

Image source: The Motley Fool. Monday, May 18, 2026 at 8 a.m. ET Chief Executive Officer — Yan Li Chief Financial Officer — Wenjuan Zhou Yan Li: Thank you, Kristal. Hello, everyone. Thank you for joining our first quarter 2026 results call. The first quarter of 2026 was a period of high-quality execution and strategic resilience within a complex regulatory environment. The total sales volume reached 261,000 units, representing a robust of 28.7% year-over-year increase. Revenue for the quarter reached RMB 909.52 million, up 33.4% year-over-year. In China, the sales volume increased 35.4% to nearly 248,000 units. This growth was powered by a major structural breakthrough in our electric motorcycle segment, which successfully offset a tempered contraction in the electric bicycle market as a new national standard took full effect. Overseas, the sales of 13,686 units reflected a 32.4% decline. This remains a planned result of our ongoing channel structure optimization and disciplined inventory management. We're staying completely focused on our core objective, prioritizing healthy retail sell-through and long-term profitability over short-term shipment volume. Now let me walk through our China and overseas operation in more detail. In China, our first quarter sales volume reached 247,938 units, a 35.4% increase year-over-year. While this growth is robust, internal data reveals a significant positive structural evolution of our brand. To end this quarter, we must look at the divergence between 2 product categories. First, in the electric motorcycle category, the segment surged by a staggering 3x year-over-year increase. Building on our momentum that began in Q4 last year with our Windstorm product line, we further accelerate our growth in the electric motorcycle market, expanding our footprint directly into Tier 2 and Tier 3 cities. This is no longer just a temporary trend. It's a definitive market breakthrough proving Niu's ability to rapid scale and capture the meaningful volume in this segment. In the electric bicycle segment, the sales has soften. This was fully anticipated as the market remain a transitional weaning period as the new standard rolling out last December. We're managing this period deliberately by our new product lines in a phased approach, ensuring we are perfectly positioned to capture the high-quality volume as consumer demand returns. Now th...

Investor releaseQuarter not tagged2026-05-18

Niu Technologies Announces Unaudited First Quarter 2026 Financial Results

GlobeNewswire

-- First Quarter Revenues of RMB 909.5 million, up 33.4% year over year -- First Quarter Net Loss of RMB 93.9 million, compared with RMB 38.8 million in the same period of 2025 BEIJING, May 18, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the first quarter ended March 31, 2026. First Quarter 2026 Financial Highlights Revenues were RMB 909.5 million, an increase of 33.4% year over year Gross margin was 17.4%, compared with 17.3% in the first quarter of 2025 Net loss was RMB 93.9 million, compared with RMB 38.8 million in the first quarter of 2025 Adjusted net loss (non-GAAP)1 was RMB 88.0 million, compared with RMB 31.4 million in the first quarter of 2025 First Quarter 2026 Operating Highlights The number of e-scooters sold was 261,624, an increase of 28.7% year over year The number of e-scooters sold in China was 247,938, an increase of 35.4% year over year The number of e-scooters sold in the international markets was 13,686, down 32.4% year over year The number of franchised stores in China was 4,542 as of March 31, 2026 Dr. Yan Li, Chief Executive Officer of the Company, remarked, “We continued to expand our presence among younger consumers in China, leveraging a targeted strategy featuring dual Gen Z brand ambassadors to deepen engagement. In the first quarter of 2026, we launched AI-integrated flagship models. Powered by the NIU AIOS intelligent operating system, these models highlight our industry-leading position in AI technology, delivering a seamless, smart riding ecosystem focused on safety, convenience, and personalized user experiences.” Dr. Li continued, “Internationally, we continued to refine our market strategy. By prioritizing our electric motorcycle position and optimizing our micro-mobility footprint, we are driving the operational improvements that reinforce our foundation for sustainable, long-term growth.” First Quarter 2026 Financial Results Revenues reached RMB 909.5 million, representing a 33.4% increase year over year. This increase was primarily driven by a 28.7% increase in sales volume, complemented by a 5.6% increase in revenues per e-scooter. The following table shows the revenue breakdown and revenues per e-scooter in the periods presented: E-scooter sales revenues from China...

Investor releaseQuarter not tagged2026-05-18

Niu Technologies Q1 Earnings Call Highlights

MarketBeat

Interested in Niu Technologies? Here are five stocks we like better. Niu’s Q1 2026 revenue and volume surged, with total sales volume rising about 29% year over year to roughly 261,000 units and revenue increasing 33.4% to RMB 909.5 million. Growth was driven mainly by a strong performance in China. China demand was boosted by electric motorcycles, which helped offset softer electric bicycle sales during a regulatory transition. Management said the company is expanding beyond tier-1 cities, with especially fast growth in tier-2 and tier-3 markets. International sales remain in transition as Niu trims inventory and shifts to a new distribution model, weighing on overseas micro-mobility sales. The company guided Q2 revenue to RMB 1.57 billion–RMB 1.82 billion, implying 25% to 45% growth year over year. Niu Technologies (NASDAQ:NIU) reported a sharp increase in first-quarter 2026 revenue and China sales volume, as management said growth in electric motorcycles offset weakness in electric bicycles during a period of regulatory transition. Chief Executive Officer Yan Li said total sales volume reached about 261,000 units, up 28.7% year over year, while revenue rose 33.4% to RMB 909.52 million. Chief Financial Officer Fion Zhou later cited total sales volume of 262,000 units, including 248,000 units sold in China and 14,000 units overseas. → 3 Crucial Aerospace Component Makers That Analysts Love “The first quarter of 2026 was a period of high-quality execution and strategic resilience within a complex regulatory environment,” Li said. In China, Niu’s sales volume increased 35.4% year over year to 247,938 units. Li said the company saw a “significant positive structural evolution” in its domestic business, with electric motorcycle sales rising threefold from the prior-year period. → McDonald's Is the Cheapest It’s Been in Years—Does That Make It a Buy? Li said the growth built on momentum from the company’s Windstorm product line and reflected expansion into tier 2 and tier 3 cities. He described the performance as a “definitive market breakthrough” that showed Niu’s ability to scale beyond its historical base in tier 1 cities. At the same time, Li said electric bicycle sales softened, which management had anticipated as China’s market adjusted to a new national standard that took effect last December. He said Niu is introducing new product lines in phases as dema...

TranscriptFY2026 Q12026-05-18

FY2026 Q1 earnings call transcript

Earnings source - 30 paragraphs
Operator

Good day, ladies and gentlemen. Thank you for standing by, and welcome to the Niu Technologies' first quarter 2026 earnings conference call. Now I will turn the call over to Miss Kristal Li, Investor Relations Manager of Niu Technologies. Miss Li, please go ahead.

Kristal Li

Thank you, operator, and hello, everyone. Welcome to today's conference call to discuss Niu Technologies results for the first quarter of 2026. The earnings press release, corporate presentation, and financial spreadsheets has been posted on our investor relation website. This call is being webcast from companies IR site as well, and a replay of the call will be available soon. Please note, today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statement involves risks, uncertainties, assumptions, and other factors. The company's actual results may be materially different from those expressed today. Further information regarding the risk factors is included in company's public filings with the Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statement except as required by law.

Kristal Li

Our earnings press release and this call include a discussion of certain non-GAAP financial measures. The press release contains a definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results. On the call with me today are our CEO, Dr. Yan Li, and CFO, Miss Fion Zhou. Let me turn the call over to CEO Yan.

Yan Li

Thank you, Kristal. Hello, everyone. Thank you for joining our first quarter 2026 results call. The first quarter of 2026 was a period of high-quality execution and strategic resilience within a complex regulatory environment. The total sales volume reached 261,000 units, representing a robust of 28.7% year-over-year increase. Revenue for the quarter reached RMB 909.52 million, up 33.4% year-over-year. In China, the sales volume increased 35.4% to nearly 248,000 units. This growth was powered by a major structural breakthrough in our electric motorcycle segment, which successfully offset a temporary contraction in the electric bicycle market as the new national standard took full effect. Overseas, the sales of 13,686 units reflected a 32.4% decline.

Yan Li

This remains a planned result of our ongoing channel structure optimization and disciplined inventory management. We're staying completely focused on our core objective, prioritizing healthy retail sales growth and long-term profitability over short-term shipping volume. Let me walk through our China overseas operation in more detail. In China, our first quarter sales volume reached 247,938 units, a 35.4% increase year-over-year. While this growth is robust, internal data reveals a significant positive structural evolution of our brand. To end this quarter, we must look at a divergence between two product categories. First, in the electric motorcycle category, the segment surged by a staggering 3x year-over-year increase.

Yan Li

Building on our momentum that begins in Q4 last year with our Windstorm product line, we further accelerate our growth in the electric motorcycle market, expanding our footprint directly into tier 2 and tier 3 cities. This is no longer just a temporary trend. It's a definitive market breakthrough, proving NIU's ability to rapid scale and capture the meaningful volume in the segment. In the electric bicycle segment, the sales have softened. This was fully anticipated as the market remains transitional waiting period as the new standard rolling out last December. We're managing this period deliberately by rolling out our new product lines in a phased approach, ensuring we're perfectly positioned to capture the high quality volume as consumer demand returns. Now, this shift has fundamentally redefined our geographic footprint as well.

Yan Li

Historically, NIU has been perceived as a tier 1 city brand, with the market represents 60% of sales. In Q1, we saw the tier 1, the new tier 1 city softened, where the tier 2 and tier 3 cities grow on a faster pace, fueled by the rapid adoption of electric motorcycles. This represent a massive strategic milestone, improves NIU's brand equity, successfully scaling beyond the urban elites and penetrating the broader mass premium China market. Now, this shift has set a powerful foundation for 2026. By breaking through the lower tier motorcycle market, we have added a new growth engine. When the electric motorcycle market inevitably recovers, our total growth will rebound with double the force. To ensure we're the first to capture that recovery, we made deliberate strategic decision to front-load our investment in branding, R&D, and the new product launch in Q1.

Yan Li

In branding and marketing, recognizing 2026 is a pivotal year for our brand's revolution, we made a proactive decision to front-load our marketing investment in this quarter. We chose to capture the consumer mindshare ahead of curve by building a massive brand awareness in Q1. We have ensured as the new national standard transition stabilized, Niu is well-positioned to capture its unmet demand. In Q1, we executed 3 major saturation initiatives. First, our 2 global ambassador strategy. In late January, we officially announced Wu Lei and Song Yuqi as Niu's 2 global brand ambassadors, the first strategy of this kind in our industry. Wu Lei's image as a high-performance outdoor enthusiast resonated with our core premium users, while Song Yuqi significantly extended our reach among Gen Z as female audiences.

Yan Li

This campaign was activated across 40-plus cities and 80-plus global landmarks, generating an unprecedented 3.4 billion impressions. Second, our Spring Festival saturation campaign, which capitalized on the highest frequency travel period in China, a large-scale offline campaign across 37 cities, 42 transportation hubs, and nearly 3,000 cinemas. This generated over 400 million impressions, firmly embedded the message, premium, smart, Niu, in the mind of travelers. Third, the 2026 technology launch event. On March 17, we unveiled our next-generation AI mobility strategy. This event was not just a product review, but also repositioned Niu as a technology leader in the AI era. With over 130 media outlets and 450 million impressions, we have redefined what smart two-wheelers can be. Those intensive branding activities led to a 4x-plus year-over-year increase in the marketing expense for Q1.

Yan Li

This was a one-time front-loading of our annual budget. Historically, the first quarter has seen a lower marketing spend due to a seasonal retail trend. However, we choose to strategically shift our marketing weights in Q1 this year to ignite the brand momentum for the entire fiscal year. As we move into Q2 and beyond, you will see that our marketing-to-revenue ratio normalized. We have already established deep brand equity required to drive our 2026 growth target. We're transitioned directly from this investment phase to execution, the harvest phase. In terms of R&D and technology, the technology and continuous innovation remain core to Niu's long-term strategy as they are fundamental to our ability to compete far beyond simple pricing and basic hardware specifications.

Yan Li

Our primary technology focus this year is to bring the power of AI to the electric two-wheeler industry, zeroing in on three major development areas: the AI Operating System, intelligent chassis system, and intelligent riding technology. First on the Niu's AI OS. Launched at our March seventeenth event, the Niu AI OS is our cornerstone to redefining the next era of intelligent riding. As the industry's first mass-produced AI dashboard system, it represents a technological milestone, integrating AI-enabled voice assistant with high-performance automotive-grade operating system. Now, the second is the intelligent chassis platform. We also introduced our next-generation intelligent chassis platform. This platform is engineered to integrate advanced safety and performance system, including ABS, TCS, continuous damping control, battery management system, and lighting system into a single unified vehicle-level architecture.

Yan Li

Based on this platform, we aim to introduce several industry-first features for mass-produced two-wheelers, such as adaptive driving beam AI headlights and adaptive CDC suspension. The last is through a strategic partnership with the leading automotive-grade technology companies. We're bringing advanced rider assistant functionality to the two-wheeler segments. This includes integrating cutting-edge hardwares like advanced visual recognition systems and high-performance processing chips. Supported directly by those core technologies, we launched the industry's first AI-enabled electric bicycle, the NQi2 Ultra, as our flagship model. Talking about our product matrix. Our product strategy in Q1 was clear. It's driving a aggressive growth in the electric motorcycle segment while building a dominant portfolio for the electric bicycle recovery. First, to lead the electric bicycle transition, we launched the NQi2 series, priced from RMB 5,299 to RMB 12,999.

Yan Li

The flagship NQi2 Ultra is the industry's first AI-powered e-bicycles, featuring our AI OS, the two-channel ABS, and millimeter wave radar. This isn't just a bike, it's a statement that Niu's own the high-end market. Second, we expand our total addressable market with the Y series. We officially entered the female mobility segment with the Y series, endorsed by our ambassador, Song Yuqi, at a competitive RMB 3,000 to RMB 4,000 price point. Third, the NX Marathon, our new volume engine. To capitalize our 3x growth in the electric motorcycle market, we launched the NX Marathon at a RMB 6,499. This model target a long-range family commuters, offers a 146 km drive range and flagship features such as magic wheel at a mainstream price point. The market response was immediate.

Yan Li

Within just 5 hours of launch, the NX Marathon generated over RMB 91 million in sales, ranking at number 1 across major e-commerce platforms. Those performance proves our hero product strategy is working. Now, in Q1, we continued to strengthen our both the offline retail sales and online ecosystem operations. In terms of online channels, we delivered another stand-up quarter. The online sales increased by 53%, accounting for approximately 46% of domestic retail sales, demonstrating a continuous strength of our online-to-offline operation model. Also, on Douyin, we conduct more than 32,000 live streams, generating over 270 million impressions. We also continue to expand on Kuaishou and Meituan, further broaden our digital retail coverage. Now turning to our international operations, we're navigating a deliberate structural transition to prioritize the healthy fundamentals.

Yan Li

Our high-margin electric motorcycle business remain a key strategic priority, and it's showing a strong momentum. Shipment reached more than 2,000 units and 29% year-over-year increase. Our European dealer now expanded from 307 to 360 active locations this quarter. In the micro-mobility segment, international sales was down 37% year-over-year. First, this is regarding the channel distribution structuring. During the first quarter, we complete a major structural shift to a linear distribution model in our key market like Germany and U.S. This critical action allows us to significantly minimize the ongoing channel operation expenses. Consequently, Q1 serve as the transition phase where the major retail partners, such as Best Buy in the United States and MediaMarkt in Germany, focus primarily on sell-out of their existing retail inventories.

Yan Li

The fresh stock-up period, under the new distribution model is only in the beginning now in Q2. Secondly, reflecting our current inventory positions, we are holding an elevated volume of micro-mobility inventories in Europe and the U.S., stemming from lower than anticipated sales in 2025. Our primary mandate for the remainder of 2026 is clear, is to accelerate unit sales volume and aggressively reduce the inventory backlog back to a lean and healthy baseline. To execute this inventory clearance swiftly and protect against long-term operation drag, we're implementing targeted price promotions throughout the rest of the year, especially on older model products. Those efforts will depress our micro-mobility contribution margins throughout the year.

Yan Li

While this discounting strategy present a short-term headwind to our profitability matrix, it is necessary to bring our global micro-mobility operation back to a clean, optimized, and highly stable foundation for the close of 2026. Looking ahead, we'll continue executing our strategy with a focus on sustainable and quality-driven growth. In China, we expect the electric bicycle market will recover gradually throughout Q2. We're taking cautious view. To lead this market, we're executing a phased out rollout of our full compound product mix, anchored by the NXT2 and the Y Series. Those position us with a comprehensive premium lineup ahead of a critical June and then Q3 selling season. Our electric motorcycle category will continue to be our primary growth engine. We have additional model targeting female riders and technology enthusiasts planned for Q2 and second half of the year.

Yan Li

The upcoming 618 shopping festival will be the first major retail test of those expanded portfolios. Overseas, our direct-to-retail strategy in the electric motorcycles is gaining speed. We expect dealer count to surpass 400 locations by the year-end, supporting both volume growth and improved profitability. In the micro-mobility, as I detailed moments ago, our absolute operation priority for the remainder of 2026 is to aggressive inventory normalization and maximizing retail sell-through. We expect our linear operate channel transition to finalize throughout the first half of this year, with our broadened promotional clearance and inventory normalization largely conclude by the second half of 2026. In summary, we have used the first quarter to do the heavy lifting required for a transformative year.

Yan Li

By front-loading our marketing, investing deeply in our AI technology roadmap, and diversifying our product portfolios, and clean up our global channels, we have moved beyond the transition phase. We believe those strategic actions have laid a solid foundation to drive sustainable and high-quality growth in Q2, and will serve as a catalyst to accelerate our growth in the latter half of the year. We're confident in our path and focused on execution. Now I'll turn over to our CFO, Fion Zhou, to talk about the financials.

Fion Zhou

Thank you, Yan, and hello, everyone. Please note that our press release contains all the figures and comparisons you need, and we have also uploaded the Excel format figures to our IR website for your easy reference. As I review our financial results, I'm referring the first quarter figures unless I say otherwise, and all monetary figures are in RMB if not specified. As Yan just mentioned, our total sales volume for the first quarter was 262,000 units, up 29% compared to the same period of last year. 248,000 units were sold in China, while the remaining 14,000 units sold overseas. Over 60% of our sales volume in China came from the top 3 bestsellers.

Fion Zhou

The total revenue for the first quarter amounted to RMB 910 million, an increase of RMB 228 million, or 33% compared to the same period of last year. China revenue were RMB 854 million, accounting for 94% of the total revenue. Of this, the scooter revenue was RMB 774 million, a year-over-year increase of 42%, and this growth was primarily driven by a sales volume and improvement in the revenue per e-scooters. China scooter ASP were RMB 3,120, up nearly 5% year-over-year.

Fion Zhou

While the overseas revenue were 56 million, representing a 6% of the total revenue, the scooter revenue, including electric motorcycles, mopeds, kick scooters, and e-bikes, amounted to 51 million, down from 60 million in the same period of last year. This decline was driven by the lower sales volume and reduced the revenue per kick scooters. Partially offset by a higher revenue per electric motorcycle and mopeds, which command higher retail prices. The sales volume in the international market shifted in favor of the electric motorcycle and mopeds category. The premium pricing of this product further contributed to a year-over-year increase in the ASP of overseas scooters, which rose from RMB 2,962 to RMB 3,716.

Fion Zhou

The revenue from accessories, spare parts and services were CNY 85 million, a 13% increase compared to the same period of last year, mainly driven by the higher revenue from new services. The gross profit for this quarter exceeded CNY 159 million, marking a significant improvement compared to CNY 180 million during the same period of last year. The gross margin was 17.4%, 0.1 ppt higher compared to the same period of last year, and 2.1 ppts higher than the previous quarter. The domestic gross margin improved due to a favorable high margin product mix, which boosted a overall gross margin by 2 ppts. However, these gains were offset by a 1.9 ppts drag from the lower kid scooters margin.

Fion Zhou

The operating expenses for the first quarter were CNY 264 million, increased CNY 99 million or 60% compared to the same period of last year. The OPEX ratio was 29% compared from the 24.2% in the same period of last year, but down from 30.5% in the last quarter. Selling and marketing expenses rose by CNY 65 million year-over-year to CNY 180 million, primarily driven by the intensified marketing initiatives in domestic market during the holiday season, as well as a higher depreciation and amortization expenses and staff cost. Selling and marketing expenses accounted for 19.8% of revenue, up from 16.8% in the same period of last year, but down from 21.3% in last quarter.

Fion Zhou

R&D expenses increased by CNY 12 million year-over-year to CNY 41 million, primarily due to an increase in design and testing cost, as well as the staff cost. The R&D expenses representing 4.5% of revenue compared to 4.4% in the same period of last year, but down from 7.3% in last quarter. G&A expenses increased by CNY 22 million year-over-year to CNY 42 million, largely driven by an increase from foreign currency exchange losses. The G&A expenses constitute 4.7% of revenue, up from 3% in the same period of last year and 1.8% in last quarter. Excluding the impact of foreign currency exchanges, the G&A expenses were CNY 23 million compared to CNY 30 million in the same period last year.

Fion Zhou

In the first quarter, we had a net loss of RMB 94 million with a net loss margin of 10.3% under GAAP accounting, compared to a net loss of RMB 39 million with a net loss margin of 5.7% for the same period of last year. The non-GAAP net loss was RMB 88 million, with a non-GAAP net loss margin of 9.7%. Turning to our balance sheet and cash flow, we ended this quarter with R&D RMB 1.4 billion, remain flat compared to the end of last year. In cash, restricted cash, term deposits, and short-term investments, our operating cash inflow amounted to RMB 131 million. CapEx for the first quarter amounted to RMB 70 million, reflecting an increase of RMB 46 million compared to the same period of last year.

Fion Zhou

This can be primarily attributed to an increase in opening of new stores and module cost in China. Now let's turn to guidance. We expected the second quarter revenue to be in the range of RMB 1.57 billion-RMB 1.82 billion, an increase of 25%-45% year-over-year. Please be aware that this outlook is based on the information available as of the date and reflects the company's current and preliminary expectation, which is subject to change due to uncertainties relating to various factors. With that, let's now open the call for any questions that you may have for us. Operator, please go ahead.

Operator

Thank you. To ask a question, you will need to press star 1 and 1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1 and 1 again. Please stand by while we compile the Q&A queue. Once again, that's star 1 and 1 on your telephone to register a question and wait for your name to be announced. To withdraw your question, please press star 1 and 1 again. Seeing no questions in the queue, let me turn the call back to Mr. Li for closing remarks.

Yan Li

Thank you, operator, and thank you all for participating on today's call and for your support. We appreciate your interest and look forward to reporting to you again next quarter on our progress. Thank you.

Operator

This concludes today's conference call. Thank you for participating. You may now disconnect. Speakers, please stand by.

Investor releaseQuarter not tagged2026-04-20

Niu Technologies to Report First Quarter 2026 Financial Results on May 18, 2026

GlobeNewswire

BEIJING, April 20, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced that it will report its financial results for the first quarter 2026 before the U.S. market opens on Monday, May 18, 2026. The corporate presentation and financial spreadsheets will be posted on NIU’s investor relations website at: https://ir.niu.com/financial-information/quarterly-results The Company will host an earnings conference call on Monday, May 18, 2026 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) to discuss the financial and business results. To join via phone, participants need to register in advance of the conference call using the link provided below. Upon registration, participants will receive dial-in numbers and a personal PIN, which will be used to join the conference call. A live and archived webcast of the conference call will be available on the investor relations website at https://ir.niu.com/news-and-events/webcasts-and-presentations About NIU As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, NIU offers two model lineups, comprising a number of different vehicle types. These include (i) the electric motorcycle, moped and bicycle series, including the NQi, MQi, UQi, FQi series and others, and (ii) the micro-mobility series, including the kick-scooter series KQi and the e-bike series BQi. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services to users. For more information, please visit www.niu.com. Investor Relations Contact: Niu Technologies E-mail: [email protected]

Investor releaseQuarter not tagged2026-04-06

Niu Technologies Provides First Quarter 2026 Sales Volume Update

GlobeNewswire

BEIJING, April 06, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today provided its sales volume results for the first quarter of 2026. In the first quarter of 2026, NIU sold 261,624 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes. Sales in the China market and international markets were 247,938 and 13,686 units, respectively. During the first quarter, we maintained robust growth momentum in the China market, with sales volume increasing by 35% year-over-year. Our MT2026 model—recognized for its iconic design, class-leading extended range, and AI-assisted navigation—continues to resonate strongly with consumers, accounting for nearly 30% of total domestic sales volume. Furthermore, the launch of our NXT2.0 model in late March marks a significant advancement in intelligent mobility. Building on a suite of automotive-grade components, the NXT2.0 is equipped with a three-camera surround-view recording system and the industry’s leading integrated AI riding agent with full voice control and natural interaction, significantly enhancing the smart riding experience. Looking ahead, we remain committed to technological innovation and the expansion of our high-performance product portfolio, establishing a solid foundation for sustainable growth throughout 2026. Internationally, we are executing a strategic realignment of our operations to enhance long-term operational efficiency by prioritizing the high-growth electric motorcycle segment and optimizing our micro-mobility footprint. Our sales volume count disclosed above is based on the delivery from our manufacturing facility, which may vary slightly from the sales volume measured from a financial accounting and reporting point of view. NIU’s sales volume represents only one measure of the Company’s financial performance and should not be relied upon as an indicator of quarterly financial results, which depend on a variety of factors, including revenues from accessories, spare parts and services, cost of sales, operating expenses, etc. About NIU As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that cater...

Investor releaseQuarter not tagged2026-03-17

Niu Technologies (NIU) Q4 2025 Earnings Call Highlights: Navigating Challenges with Strategic Growth

GuruFocus.com

This article first appeared on GuruFocus. Total Revenue (Q4 2025): RMB676 million, down 17% year-over-year. Total Revenue (Full Year 2025): RMB4.31 billion, up 31% year-over-year. Gross Margin (Q4 2025): 15.3%, up 2.9 percentage points year-over-year. Gross Margin (Full Year 2025): 19.6%, up 4.4 percentage points year-over-year. Total Sales Volume (Q4 2025): 173,000 units, a decrease of 24% year-over-year. Total Sales Volume (Full Year 2025): Nearly 1.2 million units, including 1.1 million units in China and 80,000 units overseas. China Sales Volume (Q4 2025): 159,000 units, accounting for 92% of total sales volume. Overseas Sales Volume (Q4 2025): 14,000 units. Net Loss (Q4 2025): RMB88 million. Net Loss (Full Year 2025): RMB39 million. Cash and Investments (End of 2025): RMB1.3 billion. CapEx (Full Year 2025): RMB178 million, RMB58 million higher than last year. Guidance for Q1 2026 Revenue: RMB887 million to RMB1,023 million, an increase of 30% to 50% year-over-year. Guidance for 2026 Sales Volume: 1.67 million to 1.91 million units. Warning! GuruFocus has detected 4 Warning Signs with NIU. Is NIU fairly valued? Test your thesis with our free DCF calculator. Release Date: March 16, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Niu Technologies (NASDAQ:NIU) achieved a full-year sales volume of 1.19 million units, marking a 29% year-on-year increase. The company reported a significant improvement in gross margin, reaching 19.6% for the full year, up 4.4 percentage points from the previous year. Domestic sales in China surged by 46.5% year-over-year, surpassing the 1 million unit milestone. Niu Technologies successfully expanded its product portfolio, particularly in the electric motorcycle segment, with the FX Windstorm model contributing significantly to sales. The company has made strategic advancements in its R&D, democratizing intelligent technology across more product tiers and introducing AI-enabled smart scooters. Fourth-quarter sales volume declined by 23.8% year-over-year, with a notable decrease in both domestic and international markets. Overseas sales volume fell by 68% year-over-year in the fourth quarter, reflecting challenges in international distribution channels. The company reported a net loss of RMB88 million for the fourth quarter and a non-GAAP net loss of RMB82 million. Niu Te...

Investor releaseQuarter not tagged2026-03-16

Niu Technologies Announces Unaudited Fourth Quarter and Full Year 2025 Financial Results

GlobeNewswire

-- Fourth Quarter Revenues of RMB 676.2 million, down 17.4% year over year -- Fourth Quarter Net Loss of RMB 88.1 million, compared with RMB 72.5 million in the same period of 2024 -- Full Year Revenues of RMB 4,307.9 million, up 31.0% year over year -- Full Year Net Loss of RMB 39.4 million, compared with RMB 193.2 million in 2024 BEIJING, March 16, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Financial Highlights Revenues were RMB 676.2 million, a decrease of 17.4% year over year Gross margin was 15.3%, compared with 12.4% in the fourth quarter of 2024 Net loss was RMB 88.1 million, compared with a net loss of RMB 72.5 million in the fourth quarter of 2024 Adjusted net loss (non-GAAP)1 was RMB 82.4 million, compared with an adjusted net loss of RMB 66.7 million in the fourth quarter of 2024 Fourth Quarter 2025 Operating Highlights The number of e-scooters sold was 172,763, down 23.8% year over year2 The number of e-scooters sold in China was 158,782, down 12.9% year over year The number of e-scooters sold in the international markets was 13,981, down 68.4% year over year2 The number of franchised stores in China was 4,540 as of December 31, 2025 Dr. Yan Li, Chief Executive Officer of the Company, remarked, "Our China operations sustained robust growth throughout 2025, building strongly on last year's momentum. Our latest products continue to set market trends by fusing pioneering technology with NIU’s signature design, ensuring the resilience of our business in a dynamic market. Our expanding portfolio is laying a highly scalable foundation to capture new consumer segments and drive the strategic expansion of our retail presence this year." Dr. Li continued, "Internationally, we are optimizing our retail footprint by accelerating the roll-out of electric motorcycles while streamlining micromobility operations to maximize efficiency. Overall, we are confident to deliver a sustained performance across both our domestic and overseas markets in 2026." Fourth Quarter 2025 Financial Results Revenues reached RMB 676.2 million, representing a 17.4% decrease year over year. This decrease was primarily driven by a 23.8% decrease in sales v...

As of 2026-07-18 • Updated weeklySource: Earnings sourceIngestion runbook