Niu TechnologiesNASDAQ: NIU

Niu Technologies (NASDAQ:NIU ) Q3 2024 Earnings Conference Call November 18, 2024 8:00 AM ET Company Participants Kristal Li - IR Manager Yan Li - CEO Fion Zhou - CFO Conference Call Participants Yating Chen - CICC Operator Good day, ladies and gentlemen. Thank you for standing by.

-- Third Quarter Revenues of RMB 1,023.9 million, an increase of 10.5% year-over-year -- Third Quarter Net Loss of RMB 40.9 million, compared to Net Loss of RMB 79.4 million in the same period of last year BEIJING, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial Highlights Revenues were RMB 1,023.9 million, an increase of 10.5% year-over-year Gross margin was 13.8%, compared with 21.4% in the third quarter of 2023 Net loss was RMB 40.9 million, compared with net loss of RMB 79.4 million in the third quarter of 2023 Adjusted net loss (non-GAAP) 1 was RMB 34.2 million, compared with adjusted net loss of RMB 70.0 million in the third quarter of 2023 Third Quarter 2024 Operating Highlights The number of e-scooters sold was 312,405, up 17.5% year-over-year The number of e-scooters sold in China was 259,094, up 12.4% year-over-year The number of e-scooters sold in the international markets was 53,311, up 50.3% year-over-year The number of franchised stores in China was 3,345 as of September 30, 2024 The number of distributors of our international sales network was 57, covering 53 countries as of September 30, 2024 Dr. Yan Li, Chief Executive Officer of the Company, remarked, “Our Q3 sales growth fell short of expectations, primarily due to recent policy changes in China that have impacted sales timing.

MILAN, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, is set to revolutionize the dirt bike segment with the announcement of a powerful over-the-air (OTA) software update for the XQi3 electric dirt bike at this year's EICMA event in Milan. This update will significantly enhance the bike's performance, making it a more formidable force on challenging terrains. The OTA update will be available immediately for the XQi3 Wild off-road dirt bike, and available in the coming weeks for the XQi3 Street version in the US and EU.

BEIJING, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, today announced that it will report its financial results for the third quarter ended September 30, 2024 before the U.S. market opens on Monday, November 18, 2024.

BEIJING, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, today provides its sales volume results for the third quarter of 2024.

China has rolled out subsidies to encourage consumers to purchase new electric two-wheeled vehicles, and this is a key policy tailwind for NIU. Niu Technologies' products are focused on the premium segment of China's electric two-wheeled vehicle market, and a recent survey indicates that consumers are seeking out premium and higher-priced products. I maintain a Buy rating for NIU, as the stock trades at a significant discount to its peer despite relatively more favorable growth prospects than the latter.

LOS ANGELES, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, today announced the launch of two new electric kick scooters - the KQi 100 series - for the 2024 holiday season that will be available in Walmart, Best Buy and Kohl's nationwide. NIU specializes in creating products that uniquely combine affordability, quality and technology, a blend rarely found in a single offering, and the KQi 100 series underscores this approach.

-- Second Quarter Revenues of RMB 940.5 million, an increase of 13.5% year-over-year -- Second Quarter Net Loss of RMB 24.9 million, compared to Net Loss of RMB 1.9 million in the same period of last year BEIJING, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Revenues were RMB 940.5 million, an increase of 13.5% year-over-year Gross margin was 17.0%, compared with 23.1% in the second quarter of 2023 Net loss was RMB 24.9 million, compared with net loss of RMB 1.9 million in the second quarter of 2023 Adjusted net loss (non-GAAP) 1 was RMB 19.5 million, compared with adjusted net income of RMB 14.4 million in the second quarter of 2023 Second Quarter 2024 Operating Highlights The number of e-scooters sold was 256,162, up 20.8% year-over-year The number of e-scooters sold in China was 207,552, up 16.2% year-over-year The number of e-scooters sold in the international markets was 48,610, up 45.4% year-over-year The number of franchised stores in China was 3,124 as of June 30, 2024 The number of distributors of our international sales network was 54, covering 52 countries as of June 30, 2024 Dr. Yan Li, Chief Executive Officer of the Company, remarked, "The new products we introduced this year captured over 50% of our expanding domestic sales volume in the first half of the year.

BEIJING, July 15, 2024 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world's leading provider of smart urban mobility solutions, today announced that it will report its financial results for the second quarter 2024 before the U.S. market opens on Monday, August 12, 2024.