Niu Technologies Provides Fourth Quarter 2020 E-scooter Sales Volume Update
January 07 2021 - 3:30AM
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 fourth quarter
2020.
|
Q4 2020 |
|
Q4 2019 |
|
Year 2020 |
|
Year 2019 |
China Market |
137,586 |
|
101,918 |
|
572,154 |
|
392,459 |
International Markets |
12,119 |
|
4,335 |
|
28,738 |
|
28,867 |
Total |
149,705 |
|
106,253 |
|
600,892 |
|
421,326 |
In the fourth quarter of 2020, NIU sold 149,705 e-scooters,
representing a 40.9% year-over-year growth. The number of
e-scooters sold in China market reached 137,586, representing a
35.0% year-over-year growth. The number of e-scooter sold in the
international markets reached 12,1191, an increase of 179.6%
compared with the fourth quarter last year.
The growth in China market was mainly driven by retail network
expansion and new products such as G0, MQi2 and MQiS, launched
earlier this year. The total units of G0 sold during the fourth
quarter represents approximately 21.5% of total China market
volume. The total units of MQi2 and MQiS sold during the fourth
quarter represents approximately 21.2% of total China market
volume. The G0 model has lower sales price and gross margin
compared with the existing models, and high proportion of sales
volume from this model has negative impacts on the blended revenues
per scooter and overall gross margin for the fourth quarter.
The growth in the international markets was mainly driven by the
demand recovery.
In full year 2020, NIU sold approximately 600,892 e-scooters,
representing a 42.6% year-over-year growth. The number of
e-scooters sold in China market and international markets reached
572,154 and 28,738, respectively.
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 and motorcycles. NIU has a product portfolio
consisting of seven series, four e-scooter series, including NQi,
MQi and UQi with smart functions and Gova, two urban commuter
electric motorcycles series RQi and TQi, and a performance bicycle
series, NIU Aero. 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
________________________________1 Our manufacturing facility
delivered total 12,879 units, out of which 760 units are pending
for custom clearance data to determine whether these units should
be reported as fourth quarter 2020 sales or first quarter 2021
sales.
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