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Earnings Call Summary | Niu Technologies(NIU.US) Q1 2024 Earnings Conference

Futu News ·  May 21 05:00  · Conference Call

The following is a summary of the Niu Technologies (NIU) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Niu Technologies reported Q1 2024 sales volume of 129,000 units, marking a year-over-year increase of 37%.

  • Total revenue achieved was RMB504.7 million, reflecting a 21% rise compared to the same period last year.

  • In China, a rise in sales volume led to a 28.8% increase in scooter revenue.

  • Gross margin in Q1 did not see significant improvement due to changes in sales policies and bearing marketing expenses.

Business Progress:

  • A successful launch of the NXT model contributed to 25% of total sales revenue in the China market this quarter.

  • Global growth strategies are in effect, partnering with leading retailers to expand to over 1,200 locations worldwide.

  • Expansion of sales channels in both physical stores and online platforms have taken place.

  • The introduction of a female-focused scooter, the U1E, accounted for 12% of total sales volume.

  • The company expects growth in Q2, supported by new products and channel improvements.

  • The company is on schedule to achieve their sales volume target of over 1 million units in 2024.

More details: Niu Technologies IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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