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Dec 31, 2024
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Niu Q4 2024 Earnings Report
Niu reported strong revenue growth but continued to incur net losses.
Key Takeaways
Niu Technologies posted a significant 71.1% year-over-year revenue increase in Q4 2024, reaching RMB 819.2 million. However, the company reported a net loss of RMB 72.5 million, though reduced from the previous year's RMB 130.2 million loss. Gross margin declined to 12.4%, reflecting higher costs and pricing dynamics. The company continues to expand its market presence both domestically and internationally.
Revenue grew 71.1% year-over-year to RMB 819.2 million.
Net loss narrowed to RMB 72.5 million from RMB 130.2 million in Q4 2023.
Gross margin declined from 19.0% to 12.4% due to increased costs.
E-scooter sales volume increased 64.9%, driven by strong China market demand.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Niu Technologies anticipates continued revenue growth and increasing sales volume in 2025, but profitability remains a challenge.
Positive Outlook
- Projected Q1 2025 revenue increase of 25-40%.
- Full-year 2025 sales volume expected to grow 40-70%.
- Expansion in China and international markets continues.
- New product offerings expected to support growth.
- Improving efficiency in cost structure.
Challenges Ahead
- Continued operating losses and net loss projections.
- Gross margin pressure due to higher input costs.
- Increasing freight and tariff costs in international markets.
- R&D and marketing expenses may remain elevated.
- Competition in the electric mobility space remains high.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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