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Mar 31
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Niu Q1 2025 Earnings Report
Niu reported strong year-over-year growth in Q1 2025 driven by e-scooter sales in China, though revenue per unit declined.
Key Takeaways
Niu Technologies experienced a 35.1% year-over-year revenue growth in Q1 2025, primarily due to a 57.4% surge in e-scooter sales volume. Despite continued net losses, the company's operating efficiency improved, and losses narrowed compared to last year.
Revenue increased to RMB 681,988,452 driven by strong China sales.
Net loss narrowed to RMB 38,844,720 from RMB 54,797,613 a year ago.
E-scooter sales volume jumped 57.4% YoY to 203,313 units.
Revenue per e-scooter declined 14.2% YoY due to pricing pressure in China.
Niu
Niu
Niu Revenue by Segment
Niu Revenue by Geographic Location
Revenue by Segment
E-scooter China Revenue
CapyFin.comE-scooter International Revenue
CapyFin.comAccessories, Parts & Services Revenue
CapyFin.comRevenue by Geographic Location
China Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Niu expects Q2 2025 revenue to reach between RMB 1.317 billion and RMB 1.411 billion, indicating strong year-over-year growth of 40% to 50%.
Positive Outlook
- Revenue guidance implies continued growth momentum.
- Strong e-scooter demand in China expected to persist.
- Retail network expansion supporting sales.
- Operational cost control improving margins.
- Increased production agility in response to geopolitical shifts.
Challenges Ahead
- Ongoing pricing pressure in China impacting margins.
- Tariff and freight costs affecting international gross margin.
- Volatility in U.S. trade policy presents external risk.
- Lower revenue per unit despite volume growth.
- Inventory write-downs impacting profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income