BEIJING, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Niu Technologies ("NIU", or "the Company") (NASDAQ:NIU), the world's leading provider of smart urban mobility solutions, today provides its sales volume results for the fourth quarter and full year 2023.  4Q 2023 4Q 2022 FY2023 FY2022China Market110,454 118,065 600,994 710,540International Markets27,022 20,214 108,808 121,053Total137,476 138,279 709,802 831,593 In the fourth quarter of 2023, NIU sold 137,476 units, including e-motorcycles, e-mopeds, e-bicycles, kic ...

BEIJING, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Niu Technologies ("NIU", or "the Company") (NASDAQ:NIU), the world's leading provider of smart urban mobility solutions, today announces that the Company has appointed Ms. Fion Wenjuan Zhou as a new director of the board of directors of the Company (the "Board"), effective from December 25, 2023. Ms. Fion Zhou has served as the chief financial officer of the Company since November 2021, and she was awarded "Female CFO of the Year" by the Barron's China in 2022. Pri ...

Niu Technologies (NASDAQ:NIU) Q3 2023 Earnings Conference Call November 20, 2023 8:00 AM ET Company Participants Yan Li - Chief Executive Officer Fion Zhou - Chief Financial Officer Operator Good day, ladies and gentlemen. Thank you for standing by, and welcome to the Niu Technologies Third Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, we are recordi ...

NIU at a glance ...

Financial Data and Key Metrics Changes - In Q2 2023, total sales volume was 211,996 units, a slight year-over-year increase of 1.5% [5] - Total revenue for Q2 2023 was RMB 828.8 million, matching the level from Q2 2022 with a slight increase of 0.1% [5][32] - Gross margin increased by 2.8 percentage points year-over-year, reaching 23.1% [34] - Net loss for Q2 was RMB 2 million compared to a net profit of RMB 14 million for the same period last year [36] Business Line Data and Key Metrics Changes - Sales volume in the China market decreased by 1.0% year-over-year to 178,567 units, while overseas sales volume grew by 17.1% to 33,429 units [5] - New products launched in Q2 accounted for over 60% of total sales volume in June [12] - Micro-mobility revenue increased by 127% quarter-over-quarter and 33% year-over-year, reaching RMB 90 million [33] Market Data and Key Metrics Changes - In the overseas market, sales of electric two-wheelers dropped by 68% year-over-year, while micro-mobility sales increased by 48.5% [8][18] - The average selling price (ASP) of scooters in China increased by 8% year-over-year to RMB 3,577 [32] - The ASP for overseas scooters decreased from RMB 5,122 to RMB 3,430 year-over-year due to a higher proportion of kick scooter sales [33] Company Strategy and Development Direction - The company is focusing on premium and mass premium products to drive long-term growth [6] - Strategic collaborations and participation in high-profile events are being leveraged to enhance brand visibility [16][17] - Plans to roll out battery swapping solutions in Southeast Asia and new high-performance products in Europe are underway [20][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for growth in both China and international markets, driven by new product launches [27][28] - Challenges in the European market due to economic slowdown and increased lithium battery prices were acknowledged [19] - Regulatory changes in key cities in China may temporarily disrupt sales [27] Other Important Information - The company has sold over 3.8 million scooters globally, contributing to a sustainable reduction of carbon emissions by nearly 4.8 million tons [30] - The company plans to release major product portfolio upgrades later this year to drive sales volume and margin improvement [28] Q&A Session Summary Question: Could you please give us a breakdown of the revenue guidance for Q3 2023? - The company expects a blended sales volume increase of around 10% and a slight increase in ASP compared to Q2, with domestic sales volume expected to be around 85% [41] Question: What is the reason for the gross profit margin increase in Q2, and can it be maintained in Q3? - The gross margin is expected to remain high due to new product advantages, but some gains may be passed to sales channels, leading to a blended gross margin of around 20% to 23% in Q3 [44][45] Question: What is the outlook for electric motorcycles overseas, especially in Europe and Southeast Asia? - The European market is facing challenges due to a weak economy, but the introduction of new products may help. In contrast, Southeast Asia is expected to see better growth due to rising demand [48][49] Question: Will the number of domestic channels grow in Q3 and Q4? - The company anticipates more store openings in Q4 rather than Q3, as Q4 is typically a better time for channel expansion [51]

Company Overview - NIU has sold 3.8 million scooters globally [2] - The company has a sales network that includes 2,844 dedicated stores in China [23] and 55 country distributors [22], covering 53 countries [23] - NIU's current production capacity is 2 million units [26] Financial Performance - In 2022, the company's total revenues reached RMB 3705 million [46] - The company's gross margin was 23.1% [32] - The company's S&M expenses accounted for 13.2% of revenues [32], R&D expenses accounted for 3.4% of revenues [32], and G&A expenses accounted for 7.0% of revenues [32] Balance Sheet - As of June 30, 2023, the company had RMB 1,132 million in cash, restricted cash, deposits & short-term investments [37] - As of June 30, 2023, the company's total assets were RMB 2,385 million [37] and total liabilities were RMB 1,091 million [37] - As of June 30, 2023, the company's total equity was RMB 1,294 million [37]

[Financial and Operational Highlights](index=1&type=section&id=Second%20Quarter%202023%20Financial%20Highlights) Niu Technologies reported flat Q2 2023 revenue at RMB 828.8 million, a net loss of RMB 1.9 million, with e-scooter sales up 1.5% driven by international growth | Financial Metric | Q2 2023 | Q2 2022 | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | RMB 828.8 million | RMB 827.6 million | +0.1% | | Gross Margin | 23.1% | 20.3% | +2.8pp | | Net Income (Loss) | (RMB 1.9 million) | RMB 14.4 million | - | | Adjusted Net Income | RMB 14.4 million | RMB 31.2 million | -53.8% | | Operational Metric | Q2 2023 | YoY Change | | :--- | :--- | :--- | | Total E-scooters Sold | 211,996 | +1.5% | | E-scooters Sold (China) | 178,567 | -1.0% | | E-scooters Sold (International) | 33,429 | +17.1% | | Franchised Stores in China | 2,844 | - | | International Distributors | 55 | - | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Dr. Yan Li noted strong market reception for new products, including MQiL and GOVA G400/G400T, supporting future sales and stable micro-mobility growth - New products, such as the MQiL and GOVA G400/G400T models, have been successfully launched and well-received by the market[3](index=3&type=chunk) - The MQiL model has become a key product, contributing to **one-third of domestic sales** in the quarter[3](index=3&type=chunk) - The micro-mobility segment, specifically kick-scooters, achieved stable growth during the second quarter[3](index=3&type=chunk) [Detailed Financial Performance](index=2&type=section&id=Second%20Quarter%202023%20Financial%20Results) Stable revenue at RMB 828.8 million and improved gross margin to 23.1% were offset by a 14.9% rise in operating expenses, leading to a net loss of RMB 1.9 million [Revenue Analysis](index=2&type=section&id=Revenues) Q2 2023 total revenue marginally increased by 0.1% to RMB 828.8 million, driven by China's e-scooter sales growth, largely offset by a decline in international e-scooter sales due to product mix shifts | Revenue Breakdown (RMB Million) | Q2 2023 | Q2 2022 | YoY Change | | :--- | :--- | :--- | :--- | | E-scooter sales (China) | 638.7 | 596.6 | +7.1% | | E-scooter sales (International) | 114.7 | 146.3 | -21.6% | | Accessories, spare parts & services | 75.4 | 84.7 | -11.0% | | **Total** | **828.8** | **827.6** | **+0.1%** | - The **7.1% revenue increase** in the China market was primarily driven by strategic optimization of the premium product mix, which increased the revenue per e-scooter by **8.1% to RMB 3,577**[6](index=6&type=chunk) - The **21.6% revenue decrease** in international markets was mainly due to a decline in sales of higher-priced e-motorcycles and e-mopeds, partially offset by increased sales of lower-priced kick-scooters, leading to a **33.0% drop in revenue per e-scooter internationally**[6](index=6&type=chunk) [Cost, Gross Margin, and Operating Expenses](index=3&type=section&id=Cost%20of%20revenues) Gross margin improved to 23.1% due to product mix and lower battery costs, but total operating expenses rose 14.9% to RMB 198.8 million, driven by increased selling, marketing, and G&A costs - Gross margin increased to **23.1%** from **20.3%** in Q2 2022, mainly due to the strategic optimization of the premium product mix and increased revenue per e-scooter in China[8](index=8&type=chunk) - Cost per e-scooter decreased by **4.9% to RMB 3,006**, primarily due to the increased proportion of kick-scooters and decreased cost of battery packs[8](index=8&type=chunk) | Operating Expenses (RMB Million) | Q2 2023 | Q2 2022 | YoY Change | | :--- | :--- | :--- | :--- | | Selling and marketing | 109.5 | 92.5 | +18.4% | | Research and development | 41.3 | 44.5 | -7.1% | | General and administrative | 48.0 | 36.0 | +33.2% | | **Total Operating Expenses** | **198.8** | **173.0** | **+14.9%** | [Net Income and Earnings Per Share (EPS)](index=4&type=section&id=Net%20loss) The company reported a net loss of RMB 1.9 million, a significant decline from prior-year net income, with adjusted net income also decreasing to RMB 14.4 million | Profitability Metric (RMB Million) | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Net Income (Loss) | (1.9) | 14.4 | | Adjusted Net Income (Non-GAAP) | 14.4 | 31.2 | - Basic and diluted net loss per ADS were both **RMB 0.02 (US$ 0.00)**[11](index=11&type=chunk) [Balance Sheet Summary](index=4&type=section&id=Balance%20Sheet) As of June 30, 2023, Niu Technologies maintained solid liquidity with RMB 1,022.2 million in cash and investments, total assets of RMB 2,385.3 million, and total liabilities of RMB 1,091.5 million - As of June 30, 2023, the company had cash, term deposits, and short-term investments totaling **RMB 1,022.2 million**[12](index=12&type=chunk) | Key Balance Sheet Items (RMB Million) | June 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Total Current Assets | 1,930.1 | 2,012.1 | | Total Assets | 2,385.3 | 2,536.7 | | Total Current Liabilities | 1,064.0 | 1,192.8 | | Total Liabilities | 1,091.5 | 1,226.6 | | Total Shareholders' Equity | 1,293.8 | 1,310.1 | [Business Outlook](index=4&type=section&id=Business%20Outlook) For Q3 2023, Niu Technologies forecasts revenues between RMB 1,153 million and RMB 1,326 million, representing a 0% to 15% year-over-year increase - The company expects Q3 2023 revenues to be between **RMB 1,153 million and RMB 1,326 million**[12](index=12&type=chunk) - This guidance corresponds to a year-over-year growth rate of **0% to 15%**[12](index=12&type=chunk) [Appendix: Financial Statements](index=7&type=section&id=Appendix) This section presents detailed unaudited financial statements for Q2 and H1 2023, including consolidated balance sheets, income statements, and GAAP to non-GAAP net income reconciliation | Unaudited Income Statement (RMB Million) | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Revenues | 828.8 | 827.6 | | Gross Profit | 191.5 | 167.6 | | Operating Loss | (6.8) | (5.1) | | Net Income (Loss) | (1.9) | 14.4 | | GAAP to Non-GAAP Reconciliation (RMB Million) | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | Net Income (Loss) (GAAP) | (1.9) | 14.4 | | Add: Share-based compensation | 16.3 | 16.8 | | **Adjusted Net Income (Non-GAAP)** | **14.4** | **31.2** |

Niu Technologies (NASDAQ:NIU) Q1 2023 Earnings Conference Call May 22, 2023 8:00 AM ET Company Participants Wendy Zhao - Investor Relations Manager Yan Li - Chief Executive Officer Fion Zhou - Chief Financial Officer Conference Call Participants Yating Chen - CICC Jing Chang - CICC Scarlett Ge - Credit Suisse Operator Good day and thank you for standing by. Welcome to the Niu Technologies First Quarter 2023 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. After the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2023 Commission File Number: 001-38696 NIU TECHNOLOGIES No.1 Building, No. 195 Huilongguan East Road, Changping District, Beijing 102208 People's Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of ...