Niu Technologies American Depositary Shares - NIU STOCK NEWS

NIU Technologies (NASDAQ: NIU) filed its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the SEC, making the report available on its investor relations website and the SEC's site. The company offers free hard copies of the annual report, including consolidated financial statements, to shareholders upon request.

NIU is recognized as a leading provider of smart urban mobility solutions, focusing on electric motorcycles, mopeds, bicycles, and kick-scooters. Its diversified portfolio includes six series of electric scooters and motorcycles, one kick-scooter series, and one e-bike series. The company integrates online and offline sales channels in its omnichannel retail model.

Niu Technologies (NIU) reported a total sales volume of 94,407 units for Q1 2023, marking a 42.3% year-over-year decline from 163,659 units in Q1 2022. The decline was driven largely by a 45.3% drop in the China market, attributed to higher lithium-ion battery costs. In international markets, sales reached 12,889 units, with kick-scooters making up approximately 11,000 units sold. Despite ongoing challenges, the SQi model won the “Red Dot: Best of the Best” award, indicating significant design recognition. NIU plans to release four to five new models starting in late April 2023, aiming to boost sales performance.

The Electric Scooter and Motorcycle Market is projected to grow from USD 4.9 billion in 2023 to USD 14.7 billion by 2028, with a CAGR of 24.8%. This surge is driven by increasing fuel prices and the push for emissions-free transportation supported by government incentives. Asia Pacific is anticipated to dominate the market, followed by Europe. Key segments include electric scooters under 75 miles range, forecasted to lead market growth. Major players include NIU International, Yadea Technology, and Hero Electric, all investing in R&D and expanding product lines to capture market opportunities.

Niu Technologies (NIU) reported its fourth quarter and full year 2022 financial results, showing significant decreases in revenue and net income. Fourth quarter revenues were RMB 612.3 million, a decline of 37.9% year-over-year, with a net loss of RMB 37.1 million compared to net income of RMB 47.6 million last year. Full year revenues decreased by 14.5% to RMB 3,168.6 million, resulting in a net loss of RMB 49.5 million, down from net income of RMB 225.8 million in 2021. The company anticipates first quarter 2023 revenues between RMB 403 million and RMB 489 million, reflecting a year-over-year decrease of 15% to 30%. Further, NIU expects full year sales volume to increase by 20% to 45% in 2023.

The global electric scooter market is forecasted to reach US$ 37.44 Billion by 2028, growing at a CAGR of 13% from 2022. The rise is driven by increased demand for affordable last-mile transport and the popularity of electric motorbikes and e-bikes among urban commuters, particularly among the youth and middle-class in developing nations. Additionally, government emission standards are pushing adoption. In 2022, the market was valued at US$ 17.98 Billion. The retro electric scooter segment is expected to see significant growth, while lithium-ion polymer batteries are projected to dominate due to their advantages over lead-acid types.

The report titled "Global Electric Two-wheeler Start-ups in Asia, 2023" emphasizes the growing prominence of electric two-wheelers in Asia, driven by climate change concerns and government incentives. In 2021, approximately 17 million scooters and motorcycles were sold in China, followed by 14 million in India. The industry benefits from advancements in battery technology, reduced costs, and increased charging options. Start-ups are making significant strides, often gaining first-mover advantages over traditional manufacturers. Collaboration between global companies and local manufacturers is expected to foster growth through innovative technologies and market insights.

Technavio reports that the global e-scooter market is projected to expand by 4,261.82 thousand units from 2022 to 2027, growing at a CAGR of 9.38%. The Asia-Pacific (APAC) region is expected to offer the most significant growth potential, accounting for 81% of the market's increase. Key drivers include the declining prices of Li-ion batteries and the development of high-performance e-scooters. However, high costs and maintenance complexities pose challenges to market expansion. The report provides detailed insights into market dynamics, historical data, and future trends, making it a valuable resource for stakeholders.

Niu Technologies (NIU) announced it will report its fourth quarter and full year 2022 financial results on March 20, 2023, before market opening. The earnings conference call will commence at 8:00 AM U.S. Eastern Time. Interested participants must register in advance to receive the dial-in information. Niu, a leader in smart urban mobility solutions, offers a range of electric vehicles including scooters, motorcycles, e-bikes, and kick-scooters, designed for urban travel. Detailed financials will be available on NIU's investor relations website post-announcement.

NIU Technologies (NASDAQ: NIU) has been recognized as the Best Scooter Company with the Rider's Choice Award, presented by Micromobility World, a leading virtual mobility conference. This award highlights NIU's dedication to delivering convenient and eco-friendly smart electric scooters for urban mobility. The award reflects consumer voting, which underscores the company's integral role in the rapidly growing mobility ecosystem. Since 2015, NIU has sold over 3 million electric vehicles globally and has seen over 7 billion miles ridden by users as of May 2022. The award serves as validation of NIU's mission to redefine urban mobility.