Niu Technologies Announces Unaudited Second Quarter 2026 Financial Results

Niu Technologies Announces Unaudited Second Quarter 2026 --> Accessibility: Skip TopNav Niu Technologies Announces Unaudited Second Quarter 2026 Financial Results August 10, 2026 04:00 ET | Source: NIU Technologies NIU Technologies -- Second Quarter Revenues of RMB 1,440.4 million, up 14.7% year over year -- Second Quarter Net Loss of RMB 102.2 million, compared with Net Income of RMB 5.9 million in the same period of 2025 BEIJING, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU” or the “Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the second quarter ended June 30, 2026. Second Quarter 2026 Financial Highlights Revenues were RMB 1,440.4 million, an increase of 14.7% year over year Gross margin was 16.0%, compared with 20.1% in the second quarter of 2025 Net loss was RMB 102.2 million, compared with net income of RMB 5.9 million in the second quarter of 2025 Adjusted net loss (non-GAAP) 1 was RMB 98.2 million, compared with adjusted net income of RMB 13.7 million in the second quarter of 2025 Second Quarter 2026 Operating Highlights The number of e-scooters sold was 434,687, an increase of 24.2% year over year The number of e-scooters sold in China was 402,202, an increase of 26.2% year over year The number of e-scooters sold in the international markets was 32,485, an increase of 3.6% year over year The number of franchised stores in China was 4,570 as of June 30, 2026 Dr. Yan Li, Chief Executive Officer of the Company, remarked, “In China, by incorporating AI-enabled riding features into a broader range of everyday riding needs, we continued to develop our smart mobility roadmap and strengthen the connected riding experience.” Dr. Li continued, “Internationally, we maintained a selective approach and continued to align our product offerings with local demand to support the stability of our global operation.” Second Quarter 2026 Financial Results Revenues reached RMB 1,440.4 million, representing a 14.7% increase year over year. This increase was primarily driven by a 24.2% increase in sales volume, partially offset by an 8.6% decrease in revenues per e-scooter. The following table shows the revenue breakdown and revenues per e-scooter in the periods presented: Revenues (in RMB million) 2026 Q2 2025 Q2 % change YoY E-scooter sales from China market 1,210.6 1,056.9 +14.6% E-scooter sales from international markets 106.3 103.1 +3.0% E-scooter sales, sub-total 1,316.9 1,160.0 +13.5% Accessories, spare parts and services 123.5 95.7 +29.0% Total 1,440.4 1,255.7 +14.7% Revenues per e-scooter (in RMB) 2026 Q2 2025 Q2 % change YoY E-scooter sales from China market 2 3,010 3,316 -9.2% E-scooter sales from international markets 2 3,270 3,288 -0.5% Revenues per e-scooter 3,029 3,313 -8.6% Accessories, spare parts and services 3 285 274 +4.0% Blended revenues per e-scooter (including accessories, spare parts and services) 3,314 3,587 -7.6% E-scooter sales revenues from China market were RMB 1,210.6 million, an increase of 14.6% year over year, representing 91.9% of total e-scooter revenues. The increase was mainly due to a 26.2% rise in sales volume, partially offset by a 9.2% decrease in revenues per e-scooter in China market. E-scooter sales revenues from international markets were RMB 106.3 million, an increase of 3.0% year over year, representing 8.1% of total e-scooter revenues. The increase was mainly due to higher sales volume of electric motorcycles and mopeds in international markets. Accessories, spare parts and services revenues were RMB 123.5 million, an increase of 29.0% year over year, representing 8.6% of total revenues. The increase was primarily driven by higher revenues from Niu App services, as well as accessories and spare parts sales in China market. Revenues per e-scooter were RMB 3,029, a decrease of 8.6% year over year. This decrease was primarily attributable to a shift in product mix in China market. Cost of revenues was RMB 1,210.0 million, an increase of 20.6% year over year, mainly due to higher sales volume. The cost per e-scooter, defined as cost of revenues divided by the number of e-scooters sold in a specific period, was RMB 2,784, a decrease of 2.9% from RMB 2,866 in the second quarter of 2025. This decrease was mainly due to a shift in product mix in China market, partially offset by rising upstream supply chain costs. Gross margin was 16.0%, compared with 20.1% in the same period of 2025. The decrease was primarily driven by shifts in product mix in China market, and higher product costs across the upstream supply chain, which put additional pressure on domestic gross margin. The decrease also resulted from lower gross margin on kick-scooters in international markets. Operating expenses were RMB 340.6 million, an increase of 28.6% from the same period of 2025. Operating expenses as a percentage of revenues were 23.6%, compared with 21.1% in the second quarter of 2025. Selling and