Niu(US:NIU) Newsfilterยท2024-04-04 08:30Core Insights - Niu Technologies reported a total sales volume of 129,139 units in Q1 2024, representing a 37% increase compared to 94,407 units in Q1 2023 [2] - The company achieved significant growth in both domestic and international markets, with sales in China increasing by 35% and international sales rising by 48% year-over-year [2] - The launch of new products, particularly the premium flagship model NXT, has contributed to over 50% of total sales in the domestic market, with the NXT model alone accounting for 26% of domestic sales [2][3] Domestic Market Performance - In the Chinese market, Niu sold 110,115 units in Q1 2024, up from 81,518 units in Q1 2023 [2] - The NXT model received over 10,000 pre-orders within two weeks of its launch, indicating strong market demand [2] International Market Performance - Niu's international sales reached 19,024 units in Q1 2024, compared to 12,889 units in Q1 2023 [2] - The company has expanded its retail presence in key markets such as the US, Germany, France, and Spain, enhancing its global footprint in the electric two-wheeler market [3] Future Outlook - Niu Technologies anticipates regaining growth momentum in 2024, driven by new product launches and the expansion of sales channels [3]