Overview
China e-scooter maker's Q4 revenue fell 17.4% yr/yr on lower sales volume
Adjusted net loss for Q4 widened to RMB 82.4 mln from RMB 66.7 mln yr/yr
Gross margin rose to 15.3% from 12.4%, helped by product mix and cost cuts in China
Outlook
NIU expects Q1 2026 revenue between RMB 887 mln and RMB 1,023 mln
Company expects 2026 sales volume of 1.7 mln to 1.9 mln units
Company says it is confident in delivering sustained performance in 2026
Result Drivers
LOWER SALES VOLUME - Co said Q4 revenue decline was mainly due to a 23.8% drop in e-scooter sales volume
INTERNATIONAL WEAKNESS - E-scooter sales in international markets fell 68.4% yr/yr, with lower revenues per kick-scooter cited as a factor
ACCESSORY AND SERVICE GROWTH - Accessories, spare parts and services revenue rose 10.9%, driven by higher Niu App and accessory sales in China
Company press release: ID:nGNX3dDC95
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | RMB 676.20 mln | ||
Q4 Adjusted Net Income | -RMB 82.40 mln | ||
Q4 Net Income | -RMB 88.10 mln | ||
Q4 Gross Margin | 15.30% | ||
Q4 Operating Expenses | RMB 206.10 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto & truck manufacturers peer group is "buy"
Wall Street's median 12-month price target for NIU Technologies is $4.55, about 22% above its March 13 closing price of $3.73
The stock recently traded at 69 times the next 12-month earnings vs. a P/E of 64 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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