BEIJING--(BUSINESS WIRE)--NIU Technologies (“NIU”, or “the Company”) (NASDAQ:NIU), the world’s leading provider of smart urban mobility solutions, announced its financial results for the second quarter ended June 30th, 2019.
Revenues and profit had grown steadily in the second quarter of 2019
The revenues and sales volume of NIU has grown steadily in Q2 2019. Revenues for the Q2 2019 reached RMB 531 million, an increase of 38% YoY.
As expansion grew in international markets, Q2 2019 saw a 14% increase in unit sales for a total of 99,365 scooters globally.
Q2 2019 witnessed a profitable quarter with adjusted net income (non-GAAP) of RMB 54 million and adjusted net income margin of 10.2%, improved 19 percentage points compared with Q2 2018. Gross margin also improved to 23.7% in Q2 2019, up 8.6% YoY.
NIU continues to lead urban mobility as a lifestyle brand. In Q2 2019, non-scooter related revenue accounts for 15% of total revenues.
NIU remained strong growth across international markets
As the world’s leading lithium-ion electric two-wheeler company, NIU has continued its expansion across international markets through 26 distributors and covering 34 countries such as United States, Germany, France and Netherlands. Sales in global markets have grown in Q2 representing 27% of total scooter revenues.
NIU continues to expand support for sharing businesses globally with 13 sharing operators in 11 countries providing SaaS solutions for electric two-wheelers. Sharing electric scooters is becoming more widely accepted and operators such as Revel are expanding quickly to metropolitans such as New York.
On April 12th 2019, NIU held a new product launch in Beijing, debuting new US and U+ models designed under the new national standards. NIU also launched the NIU AERO high performance bicycles.
Key Competitive Advantages
NIU’s three key competitive advantages comes from its design, technology and lifestyle brand. NIU leads the industry with its unique designs: simple and elegant. NIU’s technology harnesses real-time connectivity, big data and over the air updates with already more than 3 billion kilometers of riding across 810,000 two-wheelers. NIU has been building an urban mobility lifestyle brand that is transforming the way people commute every day and making cities more enjoyable.
This press release is released by Ever Bloom (HK) Communications Consultants Group Limited on behalf of NIU Technologies.