NIU - Niu Technologies Eyes Comeback: Q4 Earnings Reveal Plans for 2024 Growth Despite Revenue Dip | Benzinga
Niu Technologies (NASDAQ:NIU) reported a fourth-quarter fiscal 2023 revenue decline of 21.8% to RMB 478.7 million ($67.42 million).
The smart urban mobility solutions provider clocked earnings per ADS of $(0.23). Adjusted net loss was RMB (122.4) million versus RMB (26.2) million a year ago.
The number of e-scooters sold decreased by 0.6% Y/Y to 137,476, with sales in China falling by 6.4%. International e-scooter sales climbed 33.7% to 27,022 units. The number of franchised stores in China was 2,856 as of December 31, 2023.
The gross margin for the quarter declined 350 basis points Y/Y to 19.0%, mainly due to the increased ...