Overview

* NIU Q3 revenue grows 65.4% yr/yr, driven by 49.1% increase in sales volume

* Company reports Q3 net income of RMB 81.7 mln, reversing last yr's net loss

* Gross margin improves to 21.8% from 13.8% in prior year

Outlook

* Company expects Q4 2025 revenue between RMB 737 mln and RMB 901 mln

* Company advancing channel expansion and product transition strategies

Result Drivers

* CHINA SALES GROWTH - 74.2% increase in e-scooter sales volume in China driven by product portfolio and store expansion, per CEO Dr. Yan Li

* INTERNATIONAL SALES DECLINE - E-scooter sales in international markets fell 73.0% year-over-year due to reduced sales volume and lower revenues per e-scooter

* GROSS MARGIN IMPROVEMENT - Gross margin increased to 21.8% from 13.8% due to higher e-scooter sales and cost-reduction initiatives in China

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 RMB 1.69

Revenue bln

Q3 RMB

Adjusted 88.40

Net mln

Income

Q3 Net RMB

Income 81.70

mln

Q3 Gross 21.80%

Margin

Q3 RMB

Operatin 297.10

g mln

Expenses

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)