NIU Technologies reported a significant revenue beat for the second quarter, driven by strong e-scooter volume growth in the Chinese domestic market. However, the company reported a wider-than-expected net loss as profitability was impacted by a shift in product mix toward lower-priced models and rising upstream supply chain costs, which pressured gross margins. Despite the volume growth, revenue per e-scooter decreased by 8.6% year-over-year to RMB 3,029.
Key Highlights
- Total e-scooter sales volume reached 434,687 units, a 24.2% increase year-over-year, significantly exceeding analyst expectations of 285,000 units.
- Gross margin compressed to 16.0% from 20.1% in the prior-year period, primarily due to the shift in domestic product mix and higher component costs.
- The company reported a net loss of RMB 102.2 million (US$ 0.19 per ADS), compared with a net income of RMB 5.9 million in the second quarter of 2025, further exacerbated by foreign exchange losses.