Niu Technologies Provides Second Quarter 2021 E-scooter Sales Volume Update
July 06 2021 - 5:30AM
Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the
world’s leading provider of smart urban mobility solutions, today
provides its e-scooter sales volume results for the second quarter
2021.
|
2Q 2021 |
|
2Q 2020 |
|
1H 2021 |
|
1H 2020 |
China Market |
246,018 |
|
154,959 |
|
390,672 |
|
189,275 |
International Markets |
6,980 |
|
5,179 |
|
11,975 |
|
11,023 |
Total |
252,998 |
|
160,138 |
|
402,647 |
|
200,298 |
In the second quarter of 2021, NIU sold 252,998 e-scooters,
representing a 58.0% year-over-year growth. The number
of e-scooters sold in China market reached 246,018, representing a
58.8% year-over-year growth. The number of e-scooters sold in the
international markets reached 6,980, representing a 34.8%
year-over-year growth. The volume is compared on a
year-over-year basis instead of on a quarter-over-quarter basis due
to strong seasonality in e-scooter market.
The growth in China market was mainly driven by new products
launch and retail network expansion. The Company launched four new
products, F0, F2, F4 and C0 models in April 2021, out of which, F0
and F2 models have been mass produced and delivered in the second
quarter 2021. The two models were welcomed by our customers and
contributed to the sales volume growth. The Company continued fast
retail network expansion and added 450 new stores in China during
the second quarter 2021. There were 2,366 NIU stores in China at
the end of June.
The growth in the international markets was mainly driven by
recovery from COVID-19, especially in Europe and North America
markets. The delivery, however, was affected by the continued
challenging environment for international shipping.
Out of the total sales volume, the units of G0 and F0 models
sold during the second quarter 2021 represented approximately
30.4%. The G0 and F0 models have lower sales price and gross margin
compared with other models, and high proportion of sales volume
from these models has negative impacts on the blended revenues per
scooter and overall gross margin for the second quarter 2021.
Our sales volume count disclosed above is based on the delivery
from our manufacturing facility, which may vary slightly from the
sales volume measured from financial accounting and reporting point
of view. NIU’s sales volume represents only one measure of the
company’s financial performance and should not be relied upon as an
indicator of quarterly financial results, which depend on a variety
of factors, including revenues from accessories, spare parts and
services, cost of sales, operating expenses, etc.
About NIU
As the world’s leading provider of smart urban mobility
solutions, NIU designs, manufactures and sells high-performance
electric bicycles, motorcycles and kick-scooters. NIU has a product
portfolio consisting of eight series, four e-scooter series,
including NQi, MQi and UQi with smart functions and Gova, two urban
commuter electric motorcycles series RQi and TQi, a performance
bicycle series, NIU Aero, and a kick-scooter series. Different
series of products address the needs of different segments of
modern urban residents and resolve the demands of different
scenarios of urban travel, while being united through a common
design language that emphasizes style, freedom and technology. NIU
has adopted an omnichannel retail model, integrating the offline
and online channels, to offer the products and services. For more
information, please visit www.niu.com.
Safe Harbor Statement
This press release contains statements that may constitute
forward-looking statements made under the “safe harbor” provisions
of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “aims,” “future,” “intends,”
“plans,” “believes,” “estimates,” “likely to” and similar
statements. Among other things, the business outlook and quotations
from management in this announcement, as well as NIU’s strategic
and operational plans, contain forward-looking statements. NIU may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about NIU’s beliefs, plans
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: NIU’s strategies; NIU’s future business
development, financial condition and results of operations; NIU’s
ability to maintain and enhance its “NIU” brand; its ability to
innovate and successfully launch new products and services; its
ability to maintain and expand its offline distribution network;
its ability to satisfy the mandated safety standards relating to
e-scooters; its ability to secure supply of components and raw
materials used in e-scooters; its ability to manufacture, launch
and sell smart e-scooters meeting customer expectations; its
ability to grow collaboration with operation partners; its ability
to control costs associated with its operations; general economic
and business conditions in China and globally; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in NIU’s filings with
the Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release, and NIU
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please
contact:
Niu TechnologiesJason YangInvestor Relations ManagerE-mail:
ir@niu.com
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