Niu Technologies Q2: Margins Hit by Premium E-Scooter Focus, Partnership With Best Buy Boosts US Expansion
Niu Technologies Q2: Margins Hit by Premium E-Scooter Focus, Partnership With Best Buy Boosts US Expansion
Niu Technologies (NASDAQ:NIU) reported a fiscal second-quarter 2024 revenue growth of 13.5% to 940.5 million Chinese yuan ($129.42 million), mainly due to an increase in sales volume of 20.8% partially offset by a decrease in revenues per e-scooter of 6.1%.
小牛电动（纳斯达克：NIU）报告2024财年第二季度营业收入增长13.5%，达到9,405万人民币（1,294.2万美元），主要归因于销售成交量增长20.8%，部分抵销电动滑板车营收单车收入下降6.1%。
The company reported Adjusted loss per ADS of $0.03. Adjusted net loss was 19.5 million Chinese yuan, compared to 14.4 million Chinese yuan profit a year ago.
该公司每美国存托股份调整后亏损0.03美元，调整后净亏损为1950万人民币，而去年同期净利润为1440万人民币。
The number of e-scooters sold increased by 20.8% Y/Y to 256,162, with sales in China growing by 16.2%. International e-scooter sales climbed 45.4% to 48,610 units. The number of franchised stores in China was 3,124 as of June 30, 2024.
电动滑板车销售数量同比增长20.8%，至256,162辆，中国市场销售增长16.2%。国际市场电动滑板车销售同比增长45.4%，至48,610辆。截至2024年6月30日，中国区域特许经营门店数量达到3,124家。
The quarterly gross margin declined 610 basis points Y/Y to 17.0%, mainly due to the increased proportion of premium series models with more competitive prices in China market, and kick-scooter in international markets.
季度毛利率同比下降610个基点至17.0%，主要因中国市场高端车型占比增加，价格更具竞争力，国际市场滑行车推广所致。
The operating loss for the quarter was 32.15 million Chinese yuan versus a loss of 6.80 million Chinese yuan a year ago. The company held 1.14 billion Chinese yuan in cash and equivalents as of June 30, 2024.
本季度运营亏损为3,215万人民币，而去年同期亏损680万人民币。截至2024年6月10日，该公司持有1.14亿人民币的现金和现金等价物。
CEO Dr. Yan Li remarked, "The new products we introduced this year captured over 50% of our expanding domestic sales volume in the first half of the year."
CEO Dr. Yan Li 表示，“今年我们推出的新产品在上半年占据了超过50% 的扩张国内销售总量。”
Dr. Li continued, "Strategic alliances with premier retail brands such as Best Buy Co, Inc (NYSE:BBY) are propelling NIU towards deeper market penetration in the US market."
Dr. Li 继续表示，“与百思买等零售巨头的战略联盟推动了小牛电动在美国市场的更深入渗透。”
Outlook: Niu expects third-quarter revenues of 1.298 billion Chinese yuan – 1.483 billion Chinese yuan, representing a 40%–60% Y/Y increase.
展望未来：小牛电动预计第三季度营业收入将达到1298 – 1483亿人民币，同比增长40%-60%。
Niu Technologies stock plunged over 47% in the last 12 months.
小牛电动股票在过去的12个月里下跌了逾47%。
Price Action: NIU shares closed lower by 0.54% at $1.83 on Friday.
NIU Technologies 股票周五收盘下跌0.54%，报1.83美元。