BEIJING, July 04, 2022 (GLOBE NEWSWIRE) — Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world’s main supplier of sensible city mobility options, right now gives its gross sales quantity outcomes for the second quarter 2022.
2Q 2022 | 2Q 2021 | 1H 2022 | 1H 2021 | ||||
China Market | 180,299 | 246,018 | 329,286 | 390,672 | |||
International Markets | 28,558 | 6,980 | 43,230 | 11,975 | |||
Total | 208,857 | 252,998 | 372,516 | 402,647 |
In the second quarter of 2022, NIU bought 208,857 models, together with e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes, representing a 17.4% year-over-year decline. The variety of models bought in China market was 180,299, a lower of 26.7% from the corresponding interval in 2021. The variety of models bought within the worldwide markets was 28,558, representing a 309.1% year-over-year enhance. If not specified, the amount is in contrast on a year-over-year foundation as an alternative of on a quarter-over-quarter foundation attributable to sturdy seasonality within the e-scooter market.
The lower in China market was primarily attributable to retail visitors decline and logistic constraints brought on by the COVID-related lockdowns in Shanghai, Beijing and different prime tier cities, which historically contributed 35%-55% of our complete home gross sales quantity. Sporadic pandemic outbreaks in different components of the nation and enhance of retail costs ranging from April 1 additionally affected calls for of our merchandise within the second quarter. With the easing of pandemic management since June and the approaching of peak gross sales season, we plan to launch a collection of beforehand postponed new fashions and up to date variations of our merchandise within the coming quarters, and the tempo of our new retailer opening will steadily return to regular.
The strong development of the worldwide markets was fueled by sturdy gross sales of our kick-scooters, which reached a file excessive of 20,868 models bought within the second quarter since its debut final yr. The kick-scooter merchandise have been effectively acquired by our finish prospects and have been featured within the Amazon Electric Bicycles greatest vendor record since April 2022. We will begin supply of a number of new kick-scooter fashions and our first BQi e-bike mannequin within the second half of this yr. These new merchandise will additional set up NIU as a number one sensible city mobility answer supplier that addresses and satisfies numerous consumer calls for for commuting and travelling.
Our gross sales quantity depend disclosed above is predicated on the supply from our manufacturing facility, which can range barely from the gross sales quantity measured from a monetary accounting and reporting viewpoint. NIU’s gross sales quantity represents just one measure of the corporate’s monetary efficiency and shouldn’t be relied upon as an indicator of quarterly monetary outcomes, which rely upon a wide range of components, together with revenues from equipment, spare components and companies, price of gross sales, working bills, and so on.
About NIU
As the world’s main supplier of sensible city mobility options, NIU designs, manufactures and sells high-performance electrical bikes, mopeds, bicycles and kick-scooters. NIU has a diversified product portfolio that caters to the assorted calls for of our customers and addresses totally different city journey situations. NIU’s product portfolio contains its (i) 4 electrical scooter and motorbike collection, NQi, MQi, UQi and Gova, (ii) one kick-scooter collection, KQi, (iii) one excessive efficiency motorbike collection, RQi, (iv) one hybrid motorbike collection, YQi and (v) one e-bike collection, BQi. NIU has adopted an omnichannel retail mannequin, integrating the offline and on-line channels, to supply the services. For extra data, please go to www.niu.com.
Safe Harbor Statement
This press launch comprises statements which will represent forward-looking statements made below the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements will be recognized by terminology akin to “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and related statements. Among different issues, the enterprise outlook and quotations from administration on this announcement, in addition to NIU’s strategic and operational plans, comprise forward-looking statements. NIU may additionally make written or oral forward-looking statements in its periodic stories to the U.S. Securities and Exchange Commission, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic info, together with statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. Plenty of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: NIU’s methods; NIU’s future enterprise improvement, monetary situation and outcomes of operations; NIU’s means to take care of and improve its “NIU” model; its means to innovate and efficiently launch new services; its means to take care of and broaden its offline distribution community; its means to fulfill the mandated security requirements regarding e-scooters; its means to safe provide of parts and uncooked supplies utilized in e-scooters; its means to fabricate, launch and promote sensible e-scooters assembly buyer expectations; its means to develop collaboration with operation companions; its means to regulate prices related to its operations; common financial and enterprise circumstances in China and globally; and assumptions underlying or associated to any of the foregoing. Further data concerning these and different dangers is included in NIU’s filings with the Securities and Exchange Commission. All data supplied on this press launch is as of the date of this press launch, and NIU doesn’t undertake any obligation to replace any forward-looking assertion, besides as required below relevant legislation.
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Niu Technologies
E-mail: ir@niu.com