NIU Technologies Announces Q4 2018 Financial Results: Sales Volume Up 78% and Net Revenue Up 95%
2019年3月19日 - 11:34AM
JCN Newswire
NIU Technologies ("NIU", or "the company") (NASDAQ: NIU), the
world's leading provider of smart urban mobility solutions,
announced its financial results for the fourth quarter ended
December 31,2018.
Fourth Quarter and 2018 demonstrates a significant growth in sales
and income
The revenue and sales volume of NIU has shown a significant growth
trend in Q4 2018. Net revenues for the fourth quarter of 2018 were
RMB 428 million, an increase of 95% year over year. Q4 2018 also
saw a 78% increase in unit sales for a total of 93,611 scooters
globally. For the whole year 2018, e-scooter sales rose by 79.2%
yoy to a total of 339,585 units with a total net revenue of RMB
1,477.8 million, a yoy increase of 92.1%.
By the end of 2018 NIU's market and retail channel expansion had
reached 178 cities across China with a total of 760 franchise
locations. NIU increased its total store count by 320, a 72.7% yoy
increase.
NIU also made further breakthroughs in the overseas market. In
2018, NIU's overseas business expanded to 27 countries in Europe,
Asia, and the Americas.
NIU's gross margin in Q4 2018 was 13.5%, up from 4.4% for the
fourth quarter of 2017, mainly driven by a combination of favorable
product mix and the expansion into overseas markets.
"We accomplished much in our first quarter as a publicly-traded
company. The IPO helped lift brand awareness while also deepening
distributor commitment. "said Dr. Yan Li, CEO of NIU, "These
accomplishments position us for another year of strong growth in
2019".
Embracing technology: NIU ignites a new era in smart
lithium-powered scooters
As a technology company, NIU is focusing on investing in research
and development with a focus on both short and long term product
releases. The upcoming implementation of new national standards on
electric two-wheelers will reshuffle the e-scooter industry in
China: there is a revolutionary trend that the traditional
lead-acid battery will be replaced gradually by lithium powered
scooters in the China market.
A disruptive change for electric scooters in China is inevitable,
but it poses a favorable environment for NIU, who insists on
lithium battery since the very beginning. Driving robust
performance in market and developing the cutting-edge technology to
meet the demands of the marketplace is the crucial next step for
the company in the long run.
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