NASDAQ$NIU
Niu Technologies-ADR · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Niu Q1 revenue up 35% to RMB682M on 57% volume surge despite net loss
Niu Technologies reported Q1 2025 revenue of RMB682.0 million, up 35.1% year over year, driven by a 57.4% increase in e-scooter unit sales to 203,313. China sales dominated with 183,065 units (+66.2% YoY) generating RMB546.4 million, while international volumes rose 6.4% to 20,248 units. Net loss improved to RMB38.8 million from RMB54.8 million a year ago, with adjusted net loss of RMB31.4 million and net loss margin of 5.7%. Gross margin was 17.3% versus 18.9% in Q1 2024, pressured by international freight, tariffs and inventory write-downs. Basic and diluted net loss per ADS was RMB0.49 (US$0.07). The company operated 4,119 franchised stores in China and guided Q2 2025 revenue to RMB1,317 million to RMB1,411 million, up 40% to 50% year over year.
- Revenue RMB682.0M (+35.1% YoY); 203,313 e-scooters sold (+57.4%)
- Net loss RMB38.8M vs RMB54.8M prior year; adjusted net loss RMB31.4M; loss per ADS RMB0.49
- China 183,065 units (+66.2%) at RMB546.4M revenue; international 20,248 units (+6.4%)
- Gross margin 17.3% vs 18.9%; 4,119 franchised stores in China at quarter end
- Q2 2025 revenue guidance RMB1,317M-RMB1,411M (+40% to +50% YoY)
Headline financials
Revenue & EPS history
Niu · Revenue · Quarterly
¥682M
Revenue by segment
Niu · ¥682M total across 3 segments · Q1 2025
- E-scooter sales — China¥546M—80.1%
- Accessories, spare parts and services¥75.6M—11.1%
- E-scooter sales — International¥60M—8.8%
Forward guidance
Niu expects Q2 2025 revenue of RMB1,317 million to RMB1,411 million, representing 40% to 50% year-over-year growth.
Tailwinds
- Strong China volume growth from product and channel expansion
- NX Pro launch driving pre-order demand
Headwinds
- International gross margin pressure from tariffs and freight
- Revenue per e-scooter down 14.2% YoY
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2025
-1.9%
Avg return
Earnings day
-1.5%
Avg return
5 days after
-1.5%
Avg return
30 days after
35%
11 / 31 earnings
Positive
+29.0%
Q4 2024
Best reaction
-19.7%
Q4 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -19.7% | +1.8% | +12.7% | |
| Q3 2025 | -6.5% | -15.2% | -24.4% | |
| Q2 2025 | +2.1% | +32.0% | +7.4% | |
| Q1 2025 | -12.5% | +5.7% | +1.3% | |
| Q4 2024 | +29.0% | +42.3% | +5.9% | |
| Q3 2024 | -8.0% | -7.0% | -13.1% | |
| Q2 2024 | +1.1% | +0.0% | -1.1% | |
| Q1 2024 | -13.4% | -15.9% | -25.5% | |
| Q4 2023 | -1.7% | -5.6% | +15.2% | |
| Q3 2023 | +8.9% | +0.0% | -9.3% | |
| Q2 2023 | -10.6% | -18.0% | -19.9% | |
| Q1 2023 | +8.1% | -2.5% | +0.2% | |
| Q4 2022 | -6.3% | -3.5% | -7.3% | |
| Q3 2022 | -13.9% | -7.4% | +56.4% | |
| Q2 2022 | -7.4% | -15.9% | -29.2% | |
| Q1 2022 | -11.3% | -1.0% | -1.5% | |
| Q4 2021 | -10.6% | -20.0% | -0.9% | |
| Q3 2021 | -15.4% | -17.8% | -33.9% | |
| Q2 2021 | +14.4% | +17.2% | +26.3% | |
| Q1 2021 | +3.4% | +4.2% | +9.5% | |
| Q4 2020 | +14.8% | +24.1% | +8.9% | |
| Q3 2020 | -7.4% | -11.6% | -17.5% | |
| Q2 2020 | -3.3% | -3.1% | -3.5% | |
| Q1 2020 | +17.0% | +11.4% | +43.5% | |
| Q4 2019 | +2.4% | -10.9% | -9.2% | |
| Q3 2019 | -0.3% | +0.6% | -4.0% | |
| Q2 2019 | -6.8% | -14.2% | -6.0% | |
| Q1 2019 | +0.0% | -2.1% | -27.8% | |
| Q4 2017 | -8.0% | -18.1% | -25.8% | |
| Q4 2018 | -3.1% | -3.2% | +41.0% | |
| Q3 2018 | +5.9% | +6.1% | -15.5% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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