Record Sales Volume Growth
Niu Technologies achieved a total sales volume of 226,600 units in Q4 2024, marking a significant 65% year-over-year growth. For the full year, total sales volume reached 924,000 units, representing a 30% year-over-year increase.
Strong Revenue Increase
Total revenue for Q4 was RMB819 million, reflecting a 71% increase compared to the same period last year. Total revenue for the year reached RMB3.29 billion, up 24% from 2023.
China Market Performance
Sales volume in China reached 182,000 units in Q4 2024, with a robust product portfolio and strategic initiatives driving strong domestic performance.
Product Innovation and Safety Certifications
Niu became the first brand in the market to receive a five-star safety certification from China Merchant Vehicle Research Institute. The NX Hyper electric motorcycle was introduced, featuring advanced smart riding technologies.
Overseas Market Growth
The overseas market witnessed a substantial 54% growth in sales volume in Q4, with plans to expand the sales network to over 120 active dealers by year-end and double this number by the first half of 2025.
Retail and Channel Expansion
In 2024, approximately 900 new stores were opened, with plans to open another 1,000 to 1,500 stores in 2025, further strengthening market presence.