Niu Technologies reported Q2 2024 revenues of RMB 940.5 million, up 13.5% YoY, driven by a 20.8% increase in e-scooter sales volume. However, the company posted a net loss of RMB 24.9 million, compared to a RMB 1.9 million loss in Q2 2023.Gross margin declined to 17.0% from 23.1% last year due to changes in product mix. E-scooter sales in China rose 16.2% to 207,552 units, while international sales jumped 45.4% to 48,610 units. Operating expenses decreased 3.5% YoY to RMB 191.8 million.For Q3 2024, Niu expects revenues between RMB 1,298 million to RMB 1,483 million, representing 40-60% YoY growth. The company had cash and equivalents of RMB 1,135.3 million as of June 30, 2024.

Niu Technologies reported Q2 2024 revenues of RMB 940.5 million, up 13.5% YoY, driven by a 20.8% increase in e-scooter sales volume. However, the company posted a net loss of RMB 24.9 million, compared to a RMB 1.9 million loss in Q2 2023.Gross margin declined to 17.0% from 23.1% last year due to changes in product mix. E-scooter sales in China rose 16.2% to 207,552 units, while international sales jumped 45.4% to 48,610 units. Operating expenses decreased 3.5% YoY to RMB 191.8 million.For Q3 2024, Niu expects revenues between RMB 1,298 million to RMB 1,483 million, representing 40-60% YoY growth. The company had cash and equivalents of RMB 1,135.3 million as of June 30, 2024.