Niu Technologies reported third‑quarter 2025 results that surpassed analyst expectations, with revenue rising 65.4% to RMB 1,693.9 million and net income turning positive at RMB 81.7 million after a loss of RMB 40.9 million in the same period a year earlier. The company’s basic earnings per share reached RMB 1.02 (US$ 0.14) and diluted EPS was RMB 0.99 (US$ 0.14), a beat of roughly $0.49 over consensus estimates of $0.24 per share.
Revenue growth was driven almost entirely by the China market, where e‑scooter sales volume surged 74.2% to 451,455 units, contributing the bulk of the 65.4% revenue increase. International sales, however, fell 73.0% to 14,418 units, reflecting ongoing regulatory and competitive challenges abroad. The sharp rise in China sales offset the international decline and lifted overall unit sales to 465,873, a 49.1% year‑over‑year gain.
Gross margin expanded to 21.8% from 13.8% in Q3 2024, a 8.0‑percentage‑point lift. The improvement stems from a higher proportion of high‑margin e‑scooter sales in China and cost‑control initiatives that reduced component and logistics expenses. The margin gain helped convert revenue growth into a profitable quarter, ending the company’s loss streak from the previous year.
For Q4 2025, Niu guided revenue to a range of RMB 737 million to RMB 901 million, a year‑over‑year change of –10% to +10%. The guidance reflects management’s confidence in sustaining China’s strong demand while acknowledging the headwind of a new national e‑scooter standard that may temper volume in the coming months.
CEO Yan Li emphasized the company’s “peak‑season” performance, noting that the 74.2% volume growth in China was driven by a compelling product portfolio and an expanding retail network. He also highlighted the company’s proactive channel expansion and product transition strategies in preparation for the new standard, underscoring a disciplined approach to navigating market dynamics.
The results signal a robust recovery for Niu, with profitability restored and margins improving. While international sales remain a challenge, the company’s focus on China’s high‑growth market and its strategic investments in product innovation and channel expansion position it for continued upside in 2026, provided regulatory transitions in China proceed as expected.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.