NIU - Niu Technologies Q4 domestic sales volume plummet amid economic uncertainty in China

2024-01-08 01:07:37 ET

• Niu Technologies ( NASDAQ: NIU ) reported sales results for the fourth quarter and full year of 2023.

• The Chinese electric scooter company reported total sales volume of 137,473 units compared to 138,279 units a year ago.

• The number of units sold in China market and international markets were 110,454 and 27,022, respectively. Despite China's gradual recovery and typical fourth-quarter decline, the macroeconomic climate has hindered NIU's domestic sales in the country. Additionally, the kick-scooter segment is consistently achieving steady growth.

• For the full year, the company reported sales volume of 709,802 units compared to 831,593 units a year ago.

• The number of units sold in China market and international markets were 600,994 and 108,808, respectively.

• "Looking ahead to 2024, we are confident that our diverse product portfolio has been strategically aligned with the expected consumption trends and demand, which positions us well to capitalize on the continued recovery of the economy," said the company.

• More on Niu Technologies

  • Niu Technologies: Holds A Compelling Niche In An Attractive Market

  • Niu Technologies GAAP EPADS of -$0.14, revenue of $127.06M; initiates Q4 outlook

  • NIU Technologies launches its first-ever fully electric dirt bike

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