Niu Technologies Earnings Recaps
Q3 2025
Nov 18, 2025
Niu Technologies reported robust Q3 2025 results, with total sales volume up 49.1% year-over-year driven by a 74% surge in its China operations, despite struggles in overseas markets.
Key takeaways
- Total sales volume reached 465,000 units, up 49.1% year-over-year, with China sales jumping to 451,000 units.
- Revenue grew 65% year-over-year to RMB 1.69 billion, accompanied by gross margin expansion to 21.8%.
- Net profit for the quarter was RMB 81.69 million, highlighting operational efficiency and sustained profitability momentum.
- Strategic inventory buildup before new electric bicycle regulations propelled short-term demand, while the company rolls out compliance-ready products.
- Successful launches of high-end electric models contributed to sales, with the FX Windstorm motorcycle generating RMB 68 million in GMV within hours of release.
Q2 2025
Aug 11, 2025
Niu Technologies achieved a robust 37% year-over-year increase in sales volume during Q2 2025, primarily driven by significant gains in the Chinese market, though challenges in international sales persisted due to tariffs and competition.
Key takeaways
- Total sales reached 350,000 units, with 318,000 units sold in China, marking a 54% increase year-over-year.
- Revenue rose to RMB 1.26 billion, a 34% year-over-year growth, alongside an improved gross margin of 20.1%.
- Net profit turned positive at RMB 5.9 million, reflecting ongoing strategic focus on profitability amid market challenges.
- Product portfolio optimization led to an 11% increase in average selling price (ASP) compared to Q1 2025.
- Continued investments in smart technology aim to enhance the driving experience and safety features across new product launches.