Electric Scooter Company Niu Tech Stock Falls After Q1 Print, Read The Details

Benzinga05-20

Niu Technologies (NASDAQ:NIU) reported a fiscal first-quarter 2024 revenue growth of 21.0% to 504.7 million Chinese yuan ($69.91 million), mainly due to an increase in sales volume of 36.8% partially offset by a decrease in revenues per e-scooter of 11.6%.

The company reported earnings per ADS of $(0.10). Adjusted net loss was CNY (48.5) million versus CNY (46.1) million a year ago. The stock price declined after the print.

The number of e-scooters sold increased by 36.8% Y/Y to 129,139, with sales in China growing by 35.1%. International e-scooter sales climbed 47.6% to 19,024 units. The number of franchised stores in China was 2,878 as of March 31, 2024.

The quarterly gross margin declined 280 basis points Y/Y to 18.1%, mainly due to the increased proportion of kick-scooter in international markets, and decreased gross margin of e-scooter in China market.

The operating loss for the quarter was CNY (69.32) million versus a loss of CNY (67.02) million a year ago. The company held CNY 977.7 million in cash and equivalents as of March-end.

Outlook: Niu expects second-quarter revenues of CNY 912 million – CNY 995 million, representing a 10% – 20% Y/Y increase.

During fiscal fourth-quarter 2023 print, Niu said it expects fiscal 2024 sales volume of 1.0 million – 1.2 million units, representing a Y/Y increase of approximately 41% – 69%.

The stock lost over 46% in the last 12 months. Investors can gain exposure to the stock via Vanguard FTSE Emerging Markets ETF (NYSE:VWO) and Vanguard Total International Stock ETF (NASDAQ:VXUS).

Price Action: NIU shares traded lower by 1.26% at $2.36 premarket at the last check Monday.

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The number of franchised stores in China was 2,878 as of March 31, 2024.</p>\n<p>The quarterly gross margin declined 280 basis points Y/Y to 18.1%, mainly due to the increased proportion of kick-scooter in international markets, and decreased gross margin of e-scooter in China market. </p>\n<p>The operating loss for the quarter was CNY (69.32) million versus a loss of CNY (67.02) million a year ago. The company held CNY 977.7 million in cash and equivalents as of March-end.</p>\n<p><strong>Outlook</strong>: Niu expects second-quarter revenues of CNY 912 million – CNY 995 million, representing a 10% – 20% Y/Y increase.</p>\n<p>During fiscal fourth-quarter 2023 print, Niu said it expects fiscal 2024 sales volume of 1.0 million – 1.2 million units, representing a Y/Y increase of approximately 41% – 69%. </p>\n<p>The stock lost over 46% in the last 12 months. Investors can gain exposure to the stock via <strong><a href=\"https://laohu8.com/S/VGE.AU\">Vanguard FTSE Emerging Markets</a> ETF</strong> (NYSE:VWO) and <strong>Vanguard Total International Stock ETF</strong> (NASDAQ:VXUS).</p>\n<p><strong>Price Action</strong>: NIU shares traded lower by 1.26% at $2.36 premarket at the last check Monday.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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The number of franchised stores in China was 2,878 as of March 31, 2024.\nThe quarterly gross margin declined 280 basis points Y/Y to 18.1%, mainly due to the increased proportion of kick-scooter in international markets, and decreased gross margin of e-scooter in China market. \nThe operating loss for the quarter was CNY (69.32) million versus a loss of CNY (67.02) million a year ago. The company held CNY 977.7 million in cash and equivalents as of March-end.\nOutlook: Niu expects second-quarter revenues of CNY 912 million – CNY 995 million, representing a 10% – 20% Y/Y increase.\nDuring fiscal fourth-quarter 2023 print, Niu said it expects fiscal 2024 sales volume of 1.0 million – 1.2 million units, representing a Y/Y increase of approximately 41% – 69%. \nThe stock lost over 46% in the last 12 months. Investors can gain exposure to the stock via Vanguard FTSE Emerging Markets ETF (NYSE:VWO) and Vanguard Total International Stock ETF (NASDAQ:VXUS).\nPrice Action: NIU shares traded lower by 1.26% at $2.36 premarket at the last check Monday.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2436417677"}