Niu Technologies announced second quarter financial results, including revenues of RMB 1,255.7 million, a 33.5% increase year over year. Net income was RMB 5.9 million, compared to a net loss of RMB 24.9 million in the same period last year. The company sold 350,090 e-scooters, with 318,719 sold in China and 31,371 in international markets.

Dr. Yan Li, CEO, highlighted strong sales during China’s e-commerce peak season, with new smart technology models driving growth. The company expanded its domestic retail network to over 4,300 stores in China. Overseas sales of electric motorcycles showed steady recovery, while micromobility sales were impacted by geopolitical and economic uncertainties.

Total revenues for the quarter reached RMB 1,255.7 million, driven by a 36.7% increase in sales volume. Revenues per e-scooter were RMB 3,587, a 2.3% decrease year over year. Cost of revenues increased 28.5% year over year, with a gross margin of 20.1%, up from 17.0% in 2024.

Operating expenses increased 38.1% year over year, with selling and marketing expenses up 68.2% due to increased spending on online shopping festivals. Research and development expenses rose 35.5%, while general and administrative expenses decreased 51.6%. Adjusted net income was RMB 13.7 million, compared to an adjusted net loss of RMB 19.5 million in 2024.

As of June 30, 2025, NIU had cash and cash equivalents, term deposits, and short-term investments totaling RMB 1,226.6 million. The company had restricted cash of RMB 214.8 million and short-term bank borrowings of RMB 220.0 million. NIU expects third quarter 2025 revenues to be in the range of RMB 1,433 million to RMB 1,638 million, a 40% to 60% increase year over year.

Read more at GlobeNewswire: Niu Technologies Announces Unaudited Second Quarter 2025