Niu Technologies American Depositary Shares - NIU STOCK NEWS

On November 23, 2020, NIU announced changes to its board of directors. Ms. Jenny Hong Wei Lee has resigned as an independent director and chairperson of the compensation committee. Her resignation was not due to any disagreement with the company. Mr. John Jinshu Zhang will take her place as chairperson of the compensation committee. Following these changes, the board will consist of six members, with four being independent directors. NIU continues to position itself as a leader in smart urban mobility solutions, offering a range of electric bicycles and motorcycles.

Niu Technologies (NASDAQ: NIU) reported strong financial results for Q3 2020, with a 36.7% increase in revenues, reaching RMB 894.5 million. The total volume of e-scooter sales surged 67.9% year over year, with 250,889 units sold. Net income rose to RMB 80.0 million from RMB 66.4 million last year. However, gross margin decreased to 20.9% from 22.2%, attributed to sales promotions and a higher share of lower-priced models. The company anticipates launching the new Gova product in Indonesia, signaling growth opportunities.

Niu Technologies (NIU) will announce its third quarter 2020 financial results on November 23, 2020, before the market opens. A corporate presentation and financial spreadsheets will be available on its investor relations website. The company will host an earnings conference call at 8:00 AM ET on the same day to discuss the results, which requires advance registration. Access links for the call and replay options will also be provided. NIU is recognized for its high-performance electric bicycles and motorcycles, offering a product portfolio designed for urban mobility.

Niu Technologies (NIU) reported a strong performance in Q3 2020, selling 250,889 e-scooters, a 67.9% increase from the previous year. Sales in China reached 245,293, growing by 70.2%, driven by new models like G0. However, the G0 model's lower price and margin impacted overall revenues. Internationally, sales hit 5,596, a modest growth of 6.3% despite challenges from COVID-19. Year-to-date sales totaled 451,187, marking a 43.2% year-over-year increase. The company attributes growth to product demand recovery but faces risks from potential COVID-19 rebounds.

Niu Technologies (NASDAQ: NIU) announced on August 17, 2020, changes to its board of directors. Mr. Xiaojun Li has resigned as an independent director and from both the audit and compensation committees; his departure did not stem from any disagreement with the Company. Mr. John Jinshu Zhang will replace Li on the Audit Committee. Following these changes, the Board now comprises seven members, five of whom are independent directors. NIU is recognized for its innovative electric bicycles and motorcycles, catering to urban mobility needs.

Niu Technologies (NIU) reported a strong second quarter for 2020, with revenues of RMB 644.9 million, up 21.6% year-over-year, driven by a 61.2% increase in e-scooter sales volume to 160,138 units. Net income rose to RMB 56.8 million compared to RMB 51.0 million in Q2 2019. Revenues from the Chinese market grew 58.5%, but international sales plummeted 53.2%, impacted by COVID-19. Despite a decrease in gross margin to 23.0% from 23.7%, the company anticipates Q3 revenues of RMB 850-950 million, a 30-45% increase year-over-year.

Niu Technologies (NIU), a leader in smart urban mobility, will release Q2 2020 financial results on August 17, 2020. The results will be available on its investor relations website, followed by an earnings conference call at 8:00 AM ET. Participants must register in advance to join the call. NIU focuses on high-performance electric bicycles and motorcycles, utilizing an omnichannel retail model. The company aims to meet modern urban travel demands with various product series designed for different segments.

NIU Technologies (NASDAQ: NIU) launched the G0, an entry-level e-bicycle, on May 25, 2020, under the Gova series in China. The G0 complies with the New National Standard of Electric Bicycle and features a 400-watt motor. NIU also plans to release another model, the G2, in June 2020. Additionally, the company opened five new flagship stores in international markets during May 2020, while postponing some expansion plans due to COVID-19. NIU focuses on smart urban mobility solutions, offering a diverse range of electric bicycles and scooters.

Niu Technologies (NIU) reported Q1 2020 results with revenues of RMB 232.9 million, down 34.4% year-over-year. E-scooter sales volume decreased by 39.4%, with a net loss of RMB 26.4 million compared to a net income of RMB 12.0 million last year. The gross margin improved to 23.6%. The international sales segment saw a 5.9% increase, while domestic sales suffered a 43.5% decline. Despite the challenges posed by COVID-19, NIU anticipates Q2 revenues to range from RMB 585 million to RMB 655 million, reflecting a potential growth of 10% to 23% year-over-year.