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Niu Technologies (NIU.US) reported a 13.5% YoY revenue growth in Q2, with a 20.8% YoY growth in electric scooter sales.

AInvestMonday, Aug 12, 2024 4:20 am ET
1min read

NIU.US announced its 2024 Q2 results. According to the report, the company's Q2 revenue was Rmb940.5mn, up 13.5% YoY; net loss was Rmb24.9mn, down from Rmb1.9mn in the same period last year; loss per ADS was Rmb0.31.

Gross margin was 17.0%, down from 23.1% in the previous quarter.

On August 31, 2024, NIU.US announced that its electric scooter sales in Q2 were 256,162 units, up 20.8% YoY. By market, the sales of NIU.US electric scooters in China were 207,552 units, up 16.2%; the sales of NIU.US electric scooters in the international market were 48,610 units, up 45.4%.

As of June 30, 2024, the number of NIU.US stores in China was 3,124; the international sales network expanded to 54 distributors covering 52 countries.

Looking forward, NIU.US expects its Q3 revenue to be between Rmb1.298bn and Rmb1.483bn, up 40% to 60% YoY.

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