Niu Technologies (NASDAQ:NIU) Q2 2024 Earnings Conference Call August 12, 2024 8:00 AM ET Company Participants Kristal Li - IR Manager Yan Li - CEO Fion Zhou - CFO Conference Call Participants Kai Kang - CITIC Yating Chen - CICC Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to Niu Technologies Second Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we'll conduct a question-and-answer session, and instructions will follow at t ...

-- Second Quarter Revenues of RMB 940.5 million, an increase of 13.5% year-over-year -- Second Quarter Net Loss of RMB 24.9 million, compared to Net Loss of RMB 1.9 million in the same period of last year BEIJING, Aug. 12, 2024 (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 second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Revenues ...

BEIJING, July 15, 2024 (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 2024 before the U.S. market opens on Monday, August 12, 2024. 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 conf ...

BEIJING, July 15, 2024 (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 2024 before the U.S. market opens on Monday, August 12, 2024. 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 confe ...

MINNEAPOLIS, July 08, 2024 (GLOBE NEWSWIRE) -- Niu Technologies ("NIU", or "the Company") (NASDAQ:NIU), the world's leading provider of smart urban mobility solutions, today announced its large-scale retail expansion to over 800+ Best Buy stores, across the United States. This strategic expansion marks a pivotal milestone for the company and will accelerate the widespread adoption of two-wheel electric vehicles across America. Consumers can now shop for NIU's high-performance electric kick-scooters (KQi ser ...

Financial Data and Key Metrics Changes - Total sales volume for Q1 2024 was 129,000 units, a year-over-year increase of 37% [5][27] - Total revenue for Q1 was RMB 504.7 million, marking a 21% year-over-year increase [5][28] - Gross margin for Q1 was 18.9%, a decrease of 2.8 percentage points year-over-year [30] - Net loss for Q1 was RMB 55 million, with a net loss margin of 10.9% [31] Business Line Data and Key Metrics Changes - In the China market, sales volume increased by 31% to 110,000 units, while overseas sales volume grew by 48% to 19,000 units [5][27] - Revenue from scooters in China was RMB 393 million, a year-over-year increase of 28.8% [28] - Overseas revenue was RMB 60 million, accounting for 12% of total revenue [28] Market Data and Key Metrics Changes - The micro-mobility sector saw a year-over-year growth of 48% [16] - The ASP (Average Selling Price) for scooters in China decreased by 4.7% year-over-year to RMB 3,568 [28] - The ASP for overseas scooters decreased from RMB 4,138 to RMB 2,577 year-over-year [29] Company Strategy and Development Direction - The company is focusing on the premium segments of the market, enhancing its product portfolio with models like the NXT series [5][6] - Plans to expand retail presence globally, with partnerships established in over 1,200 locations worldwide [7][18] - Aiming to build an urban mobility brand focused on diverse user needs, particularly targeting young demographics and female riders [9][10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in Q2, driven by new product introductions and channel improvements [23][25] - Acknowledged potential macroeconomic challenges in the China market but maintained a positive outlook for overseas markets [25][26] - The company anticipates a revenue range of RMB 912 million to RMB 955 million for Q2, representing a year-over-year increase of 10% to 20% [33] Other Important Information - The successful launch of the NXT model contributed 25% of total sales revenue in the China market for the quarter [6] - The company has engaged in extensive marketing campaigns, generating significant brand visibility and engagement [13][15] Q&A Session Summary Question: About the gross margin and its improvement - Management explained that the gross margin did not improve significantly due to changes in sales policy and increased contributions from lower-margin products [35][36] Question: On selling expenses and future guidance - Management indicated that selling expenses as a percentage of revenue have decreased in the domestic market and expect further reductions as sales volume increases [39][40] Question: Plans for retail store expansion in China - Management confirmed plans to increase the number of retail stores in China, with several hundred stores expected to be added in Q2 [42][43] Question: Sales volume target for 2024 - Management maintained the target of selling over 1 million units in 2024, with growth expected to be more pronounced in the overseas market [44][45][46]

1Q 2024 NIU at a glance ...

-- First Quarter Revenues of RMB 504.7 million, an increase of 21.0% year-over-year -- First Quarter Net Loss of RMB 54.8 million, compared to Net Loss of RMB 60.3 million in the same period of last year BEIJING, May 20, 2024 (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, 2024. First Quarter 2024 Financial Highlights Revenues wer ...

Core Insights - Niu Technologies reported first quarter revenues of RMB 504.7 million, marking a 21.0% increase year-over-year, driven primarily by a 36.8% rise in e-scooter sales volume [1][4][6] - The company experienced a net loss of RMB 54.8 million, an improvement from a net loss of RMB 60.3 million in the same period last year [4][12] - The gross margin decreased to 18.9% from 21.7% year-over-year, attributed to changes in product mix and increased sales of lower-margin kick-scooters [4][8] Revenue Breakdown - E-scooter sales from the China market reached RMB 392.9 million, up 28.8% year-over-year, accounting for 88.9% of total e-scooter revenues [2][7] - International e-scooter sales were RMB 49.0 million, down 8.1% year-over-year, representing 11.1% of total e-scooter revenues [2][7] - Accessories, spare parts, and services generated revenues of RMB 62.8 million, a 6.8% increase year-over-year [2][7] Sales Volume and Market Expansion - The total number of e-scooters sold was 129,139, reflecting a 36.8% increase year-over-year [5] - E-scooter sales in China were 110,115 units, up 35.1% year-over-year, while international sales reached 19,024 units, a 47.6% increase [5] - The company expanded its international sales network to 58 distributors across 54 countries as of March 31, 2024 [5] Operating Expenses - Total operating expenses were RMB 164.9 million, a 4.6% increase year-over-year, with selling and marketing expenses rising significantly by 45.6% to RMB 105.3 million [9][10] - Research and development expenses decreased by 17.3% to RMB 28.9 million, while general and administrative expenses fell by 39.2% to RMB 30.6 million [9][10] Financial Outlook - The company anticipates second quarter 2024 revenues to be between RMB 912 million and RMB 995 million, representing a year-over-year increase of 10% to 20% [13]

BEIJING, April 24, 2024 (GLOBE NEWSWIRE) -- Niu Technologies ("NIU", or "the Company") (NASDAQ:NIU), the world's leading provider of smart urban mobility solutions, today filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The annual report on Form 20-F can be accessed on the Company's investor relations website at ir@niu.com. The Company will provide a hard copy of the Form 20-F containing the audited consolidated financial stat ...