Niu Technologies Announces Q2 2021 Financial Results

Consumer Discretionary Author: 苑晶铭 Editor: 张宇喆 Aug 17, 2021 08:03 AM (GMT+8)

In Q2 2021, the company generated CNY 944.7 million in revenue, with a year-on-year increase of 46.5%.

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According to Niu Technologies' Q2 2021 financial announcement:

- Revenue rose by 46.5%, reaching CNY 944.7 million.

- The gross profit margin was 22.7%, compared with 23.0% in the same period of 2020.

- Net profit hit CNY 91.8 million, representing a 61.6% growth, and the net profit margin was 9.7%.

- In Q2 2021, the company's sales volume hit 253,000 units (up 58.0%), with only 2.8% sales from overseas markets.

- Among the firm's major business, the revenue of electric scooters in the domestic market recorded CNY 758 million, representing a growth of 44.9%; its overseas revenue from electric scooters hit CNY 57.7 million, increasing 1.2% compared with 2020.

- The sales from low-priced models G0 and F0 represented 30.4% of total sales volume, declining from 38.2% in Q1 2021, with revenues pre scooter up 8.3% month-on-month.

- At the same time, Niu Technologies' sales and marketing expenditure reached CNY 68.9 million, showing an increase of approximately 51.1%; its R&D expenses hit CNY 30.8 million, with a rise of about 28.7%.

- By the end of August 16, 2021, the company's market capitalization was USD 1.7 billion (about CNY 11.0 billion), evaporating by CNY 15.4 billion.