Niu Q4 Rides High On Demand For E-Scooters, But Gross Margins Decline Amid Higher Costs

Chinese electric scooter company Niu Technologies (NASDAQ:NIU) shares traded lower premarket on Monday. The company reported a fiscal fourth-quarter revenue growth of 71.1% year over year to 819.2 million Chinese yuan ($112.23 million).

Revenue growth was mainly due to an increase in sales volume of 64.9% and rise in revenues per e-scooter of 3.8% in the quarter.

The number of e-scooters sold increased by 64.9% Y/Y to 226,634, with sales in China growing by 65.1% Y/Y to 182,333. 

For 2024, the company sold 924,340 units, with 759,094 units sold in China and 165,246 units sold in international markets.

International e-scooter sales climbed 63.9% Y/Y to 44,301 units in the quarter. The number of franchised stores in China was 3,735 as of ...