Core Viewpoint - Niu Technologies reported a decline in sales volume for Q4 2025 compared to the previous year, but showed significant growth in annual sales for FY2025, indicating a mixed performance influenced by market conditions and product launches [1][4][6]. Sales Performance - In Q4 2025, Niu sold a total of 178,702 units, a decrease of 21.1% from 226,634 units in Q4 2024 [2][3]. - For FY2025, total sales reached 1,197,978 units, representing a 29.5% increase from 924,340 units in FY2024 [2][6]. - Sales in the China market for Q4 2025 were 158,782 units, down from 182,333 units in Q4 2024, while international sales were 19,920 units, down from 44,301 units in the same period [2][3]. Market Insights - The decline in Q4 sales was attributed to seasonal weakness in China's smart urban mobility sector and a high comparative base from the previous year [4]. - The launch of the FX "Windstorm" e-motorcycle resonated well with Gen Z riders, becoming the top-selling model in Q4 2025 [4]. - New e-bicycle models compliant with the latest National Standards received positive feedback, indicating a successful product strategy [4]. Strategic Outlook - The company plans to enhance its product portfolio with standards-compliant e-bicycles and new e-motorcycles to meet evolving market demands [4]. - In international markets, the e-motorcycle segment is expected to strengthen in 2026 due to ongoing portfolio enhancements and strategic regional penetration [5]. - Niu is actively optimizing its micromobility strategy to adapt to a challenging operating environment [5].
Niu Technologies Provides Fourth Quarter and Full Year 2025 Sales Volume Update