Niu(NIU) - 2025 Q1 - Earnings Call Presentation

Financial Performance - Q1 2025 - Total revenue reached RMB 682 million in 1Q25[42] - China sales volume increased to 110 thousand units in 1Q25, a 35% year-over-year increase[42] - Overseas sales volume increased to 183 thousand units in 1Q25, a 66% year-over-year increase[42] - Gross margin was 173% of revenues in 1Q25[46] - Net margin was -272% in 1Q25[51] - Adjusted net margin was -46% in 1Q25[54] Assets and Liabilities - End of Period - Cash, restricted cash, deposits & short-term investment was RMB 963 million as of March 31, 2025[49] - Total assets were RMB 2508 million as of March 31, 2025[49] - Total liabilities were RMB 1611 million as of March 31, 2025[49] - Total equity was RMB 897 million as of March 31, 2025[49]