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Niu Technologies | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Mar 17 10:34

Summary by Moomoo AI

Niu Technologies reported Q4 2024 revenues of RMB 819.2 million, up 71.1% YoY, driven by a 64.9% increase in e-scooter sales volume to 226,634 units. The company narrowed its net loss to RMB 72.5 million from RMB 130.2 million in Q4 2023, though gross margin declined to 12.4% from 19.0% due to product mix changes and increased costs.For full year 2024, revenues grew 24.0% to RMB 3,288.3 million, with total e-scooter sales volume up 30.2%. Net loss improved to RMB 193.2 million from RMB 271.8 million in 2023. The company maintained strong domestic growth with China market sales representing 86.6% of total e-scooter revenues.Looking ahead, Niu expects Q1 2025 revenues between RMB 631-707 million, representing 25-40% YoY growth. For full year 2025, the company forecasts sales volume of 1.3-1.6 million units, projecting 40-70% YoY growth. The company ended 2024 with RMB 904.4 million in cash and term deposits.
Niu Technologies reported Q4 2024 revenues of RMB 819.2 million, up 71.1% YoY, driven by a 64.9% increase in e-scooter sales volume to 226,634 units. The company narrowed its net loss to RMB 72.5 million from RMB 130.2 million in Q4 2023, though gross margin declined to 12.4% from 19.0% due to product mix changes and increased costs.For full year 2024, revenues grew 24.0% to RMB 3,288.3 million, with total e-scooter sales volume up 30.2%. Net loss improved to RMB 193.2 million from RMB 271.8 million in 2023. The company maintained strong domestic growth with China market sales representing 86.6% of total e-scooter revenues.Looking ahead, Niu expects Q1 2025 revenues between RMB 631-707 million, representing 25-40% YoY growth. For full year 2025, the company forecasts sales volume of 1.3-1.6 million units, projecting 40-70% YoY growth. The company ended 2024 with RMB 904.4 million in cash and term deposits.
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