Niu's Significant Expansion in China Balances Global Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 17 2025
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Source: Benzinga
Quarterly Performance: Niu Technologies reported a 65.4% year-over-year revenue growth to $237.94 million, with a significant increase in e-scooter sales volume and revenues per unit, leading to an adjusted EPADS of 14 cents.
Sales Breakdown: The company sold 465,873 e-scooters in total, with a 74.2% increase in China, while international sales dropped by 73.0%. Revenues from the China market accounted for 95.7% of total e-scooter revenues.
Revenue Sources: Accessories and spare parts sales increased by 50.8% year-over-year, contributing 8.6% to total revenues, while gross margin improved to 21.8% due to cost-reduction initiatives and a higher proportion of e-scooter sales.
Future Outlook: Niu anticipates fourth-quarter revenue between 737 million and 901 million Chinese yuan, reflecting a potential year-over-year change of -10% to +10%, as the company prepares for seasonal shifts and new national standards.
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Analyst Views on NIU
About NIU
NIU Technologies is a holding company principally engaged in the design, manufacturing and sales of electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. The Company is engaged in the provision of two model lineups, including the electric motorcycle, moped and bicycle series such as the NQi, MQi, UQi, FQi series and others, as well as the micro-mobility series such as the kick-scooter series KQi and the e-bike series BQi. The Company sells products and provides services to users through online and offline channels. The Company is also engaged in the provision of accessories and spare parts such as scooter accessories and lifestyle accessories. The Company operates its businesses in the domestic market and overseas markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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