NIU Technologies
NASDAQ:NIU
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NIU Technologies
NASDAQ:NIU
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CN |
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Jiangsu Expressway Co Ltd
HKEX:177
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CN |
NIU Technologies
Niu Technologies is a holding company, which engages in the provision of urban mobility solutions. The company is headquartered in Beijing, Beijing. The company went IPO on 2018-10-19. The firm is engaged in the design, manufacture and sales of smart e-scooters. The Company’s products consist of three series, N, M and U, with multiple models or specifications for each series. Its NIU application synchronizes with the smart e-scooters and communicates with its cloud system. The firm enables users to receive real-time information relating to their smart e-scooters through its application.
Niu Technologies is a holding company, which engages in the provision of urban mobility solutions. The company is headquartered in Beijing, Beijing. The company went IPO on 2018-10-19. The firm is engaged in the design, manufacture and sales of smart e-scooters. The Company’s products consist of three series, N, M and U, with multiple models or specifications for each series. Its NIU application synchronizes with the smart e-scooters and communicates with its cloud system. The firm enables users to receive real-time information relating to their smart e-scooters through its application.
Volume snapshot: Q4 deliveries were down ~24% YoY (management cited 172,000 units), driven by a planned transition to China’s new national standard and channel restructuring overseas.
Full-year growth: 2025 sales rose to 1.19 million units, up 29% YoY, with China sales of 1.11 million (+46%) offsetting a 51% decline overseas.
Margin expansion: Full-year gross margin expanded to 19.6%, up 4.4 percentage points YoY, driven by higher-margin product mix and cost efficiency in China.
Profitability: Company reported a Q4 net loss of RMB 88 million and a full-year net loss of RMB 39 million; non-GAAP losses were smaller (Q4: RMB 82 million; FY: RMB 12 million).
Inventory / kick scooter focus: Reported net inventory around RMB 650 million, with more than RMB 300 million attributed to aged kick scooters—management will prioritize clearance and channel normalization in 2026.
Guidance: Q1 2026 revenue guidance RMB 887 million–RMB 1,023 million (up 30%–50% YoY); full-year 2026 sales volume guided to 1.67 million–1.91 million units.
Strategic pivot: Management highlighted a deliberate shift toward electric motorcycles (Windstorm platform) and direct-to-retailer overseas model to capture higher margins and better brand control.
Product & tech roadmap: Rolling out full new-standard bicycle lineup by Q2 2026 and plans to introduce an AI-enabled smart scooter at the product event on March 17.
