News from November 18, $Niu Technologies (NIU.US)$ The performance of the third quarter of 2024 has been announced. The financial report shows that niu technologies' Q3 revenue was 1.0239 billion yuan (RMB, the same below), an increase of 10.5% year-on-year; the gross margin was 13.8%, compared to a gross margin of 21.4% in the same period last year; the net loss was 40.9 million yuan, compared to a net loss of 79.4 million yuan in the same period last year; the adjusted net loss was 34.2 million yuan, compared to an adjusted net loss of 70 million yuan in the same period last year.

The sales volume of electric scooters in Q3 was 312,405, an increase of 17.5% year-on-year. Among them, the sales volume of electric scooters in the chinese market was 259,094, an increase of 12.4% year-on-year; the sales volume of electric scooters in the overseas market was 53,311, an increase of 50.3% year-on-year.

As of September 30, 2024, the number of franchise stores in china was 3,345, and the international sales network expanded to 57 dealers, covering 53 countries.

Looking ahead, niu technologies expects the fourth quarter revenue in 2024 to be between 0.622 billion yuan and 0.718 billion yuan, a year-on-year growth of 30% to 50%.