Niu Technologies announced its unaudited financial results for the first quarter ended March 31, 2025, on May 19, 2025, reporting revenues of RMB 682.0 million, a 35.1% increase year-over-year.
The company's net loss for the quarter was RMB 38.8 million, an improvement from a net loss of RMB 54.8 million in the same period of 2024, with adjusted net loss at RMB 31.4 million.
Sales volume increased by 57.4% year-over-year, partially offset by a 14.2% decrease in revenues per e-scooter, while gross margin was 17.3%, down from 18.9% in Q1 2024 due to international market factors.
Operating expenses saw a slight increase of 0.1% to RMB 165.1 million, representing 24.2% of revenues, down from 32.7% in the prior year period.
For the second quarter of 2025, NIU expects revenues to be in the range of RMB 1,317 million to RMB 1,411 million, representing a year-over-year increase of 40% to 50%.
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