NASDAQ$NIU
Niu Technologies-ADR · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
NIU Q3: RMB1.69B revenue (+65%); returns to profit on 74% China volume surge
Niu Technologies reported Q3 2025 revenues of RMB1.69 billion, up 65.4% year over year, driven by a 49.1% increase in e-scooter sales volume and 11.0% higher revenue per unit. Net income was RMB81.7 million versus a RMB40.9 million loss in Q3 2024, with adjusted net income of RMB88.4 million. Gross margin expanded to 21.8% from 13.8% on cost-reduction initiatives and a higher China mix. China e-scooter sales surged 74.2% to 451,455 units while international volumes fell 73.0%; the company operated 4,542 franchised stores in China at quarter end.
- Q3 revenue RMB1.69B (+65.4%); net income RMB81.7M vs RMB40.9M loss prior year.
- Gross margin 21.8% vs 13.8%; adjusted net income RMB88.4M.
- E-scooters sold 465,873 (+49.1%); China volume 451,455 (+74.2%).
- China e-scooter revenue RMB1.48B (+85.8%); revenue per e-scooter RMB3,636 (+11.0%).
- 4,542 franchised stores in China; 57 international distributors across 53 countries.
Headline financials
Revenue & EPS history
Niu · Revenue · Quarterly
¥1.69B
Revenue by segment
Niu · ¥1.69B total across 3 segments · Q3 2025
- E-scooter sales — China¥1.48B—87.5%
- Accessories, spare parts and services¥145M—8.6%
- E-scooter sales — International¥67M—4.0%
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 Q3 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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