Niu Technologies American Depositary Shares - NIU STOCK NEWS

Niu Technologies (NIU) reported a 19.2% decline in total sales volume for Q3 2022, with 320,798 units sold. The China market saw a 32.9% drop, totaling 263,189 units, while international markets surged with a 1059.8% increase to 57,609 units. The decline in China was attributed to sluggish post-COVID consumer recovery and high lithium-ion battery costs. In contrast, premium models made up 85% of total sales, indicating a strong product mix. New products received positive consumer feedback, and international kick-scooter sales are expected to grow significantly as the holiday season approaches.

Niu Technologies reported a 12.4% year-over-year decline in revenues, totaling RMB 827.6 million for Q2 2022. The net income also fell to RMB 14.4 million, down from RMB 91.8 million in Q2 2021. E-scooter sales volume dipped 17.4% overall, with a notable 26.7% drop in China, partially offset by a 309.1% surge in international sales. The gross margin decreased to 20.3% from 22.7%. Despite challenges, the company anticipates a recovery with new product launches and adjusts its annual sales volume guidance to 1-1.2 million.

Niu Technologies (NASDAQ: NIU) will release its second quarter 2022 financial results on August 15, 2022, before market opening. A corporate presentation and financial spreadsheets will be available on the investor relations website. An earnings conference call will be held at 8:00 AM U.S. Eastern Time to discuss the results. Participants must register in advance to obtain dial-in numbers and a passcode. NIU is a leading provider of smart urban mobility solutions, including electric motorcycles, scooters, and e-bikes.

NIU Technologies, a leader in two-wheeled electric vehicles, is set to open a flagship store in downtown Miami on July 28, 2022. This store aims to offer sustainable transportation solutions to urban commuters amidst rising gas prices. The opening event will feature test drives of NIU's electric scooters, mopeds, and e-bikes, along with discounts up to $300 on select products. NIU has a strong global presence, having sold over 2 million vehicles since 2015 and ridden over 7 billion miles worldwide. Visit NIUFlorida.com for more details.

In Q2 2022, NIU sold 208,857 units, marking a 17.4% year-over-year decline. Sales in the China market fell 26.7%, totaling 180,299 units, primarily due to COVID-related lockdowns and increased retail prices. Conversely, international sales surged 309.1% to 28,558 units, driven by strong demand for kick-scooters, which saw a record sale of 20,868 units. NIU plans to launch new models as pandemic restrictions ease, aiming to boost sales in the upcoming peak season.

Niu Technologies (NIU) reported a 5.1% growth in Q1 2022 revenues, totaling RMB 575.5 million, driven by a 9.4% increase in e-scooter sales volume, reaching 163,659 units. However, the company saw a net loss of RMB 29.6 million, significantly higher than the RMB 5.4 million loss in Q1 2021. The gross margin fell to 19.1% from 23.8% due to rising materials costs. Looking ahead, NIU anticipates Q2 revenues between RMB 803 million and RMB 945 million, a possible 15% decline year-over-year.

NIU Technologies (NASDAQ: NIU), the global leader in electric two-wheeled vehicles, will showcase cutting-edge products at the 2022 Electrify Expo, North America's largest e-mobility festival. Key highlights include the launch of the BQi E-Bike and popular models like the KQi2 Pro and KQi3 Pro electric scooters, along with the MQi GT EVO moped. NIU has sold over one million vehicles globally, helping reduce urban congestion and carbon emissions. The company's robust retail network includes over 1,300 partners worldwide.

NIU Technologies (NASDAQ: NIU) announced updates regarding its compliance with the Holding Foreign Companies Accountable Act (HFCAA). The SEC has identified NIU under HFCAA as its auditor's workpapers cannot be fully inspected by the PCAOB. If this identification persists for three consecutive years, NIU could be barred from trading on U.S. exchanges. The company is actively seeking solutions to protect stakeholder interests and maintain its Nasdaq listing while complying with U.S. and Chinese regulations.

Niu Technologies (NASDAQ: NIU) will report its financial results for Q1 2022 on May 23, 2022, before market open. The company, a leader in smart urban mobility solutions, will hold an earnings conference call at 8:00 AM U.S. Eastern Time on the same day. Participants must register in advance to join the call. The financial presentation and spreadsheets will be available on NIU's investor relations website. A live and archived webcast of the call will also be accessible online.