Niu Tech ( (NIU) ) has released its Q4 earnings. Here is a breakdown of the information Niu Tech presented to its investors.
Niu Technologies is a leading provider of smart urban mobility solutions, specializing in the design, manufacture, and sale of electric motorcycles, mopeds, bicycles, kick-scooters, and e-bikes. The company operates in the electric vehicle industry and is known for its diversified product portfolio catering to various urban travel needs.
In its latest earnings report, Niu Technologies announced a significant increase in revenues for both the fourth quarter and full year of 2024. The company reported a 71.1% year-over-year increase in fourth-quarter revenues, reaching RMB 819.2 million, and a 24.0% increase in full-year revenues, totaling RMB 3,288.3 million. Despite these gains, the company still experienced a net loss, although it was reduced compared to the previous year.
Key financial highlights include a substantial growth in e-scooter sales, with a 64.9% increase in units sold during the fourth quarter. The company also expanded its presence in both domestic and international markets, with significant sales volume growth in China and strategic partnerships enhancing its international footprint. However, the gross margin decreased due to changes in product mix and increased costs.
Operating expenses saw a decline, contributing to the reduced net loss. The company managed to lower its operating expenses as a percentage of revenues significantly, indicating improved operational efficiency. Despite the challenges, Niu Technologies continues to focus on expanding its market presence and enhancing its product offerings.
Looking ahead, Niu Technologies is optimistic about sustaining its growth momentum into 2025. The company expects a continued increase in sales volume and revenues, driven by strong consumer demand and strategic market expansions. Management remains confident in the company’s ability to maintain its competitive edge in the smart urban mobility market.