Niu Q3 Earnings: Scooter Volume Up, But Price Drops And Margins Tighten, Strong Q4 Outlook And More
Niu Q3 Earnings: Scooter Volume Up, But Price Drops And Margins Tighten, Strong Q4 Outlook And More
The number of e-scooters sold increased by 17.5% Y/Y to 312,405, with sales in China growing by 12.4%. International e-scooter sales climbed 50.3% to 53,311 units. The number of franchised stores in China was 3,345 as of September 30, 2024.Chinese electric scooter company Niu Technologies (NASDAQ:NIU) reported a fiscal third-quarter 2024 revenue growth of 10.5% to 1.02 billion Chinese yuan ($145.90 million), mainly due to an increase in sales volume of 17.5%, partially offset by a decrease in revenues per e-scooter of 6.0%.
中国电动车公司小牛电动（纳斯达克:NIU）报告称，2024年第三季度营业收入增长10.5%，达到10.2亿人民币（合14590万美元），主要是因为销售成交量增长了17.5%，部分抵消了每辆电动车收入下降了6.0%。
The company reported loss per ADS of $(0.07). Adjusted net loss was (34.25) million Chinese yuan, compared to (69.96) million Chinese yuan loss a year ago.
该公司每ADS亏损$(0.07)。调整后的净亏损为(3425)万人民币，而上年同期亏损为(6996)万人民币。
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分析师指出：迪士尼的流媒体利润和园区复苏正在引领发展的方向。
The number of e-scooters sold increased by 17.5% Y/Y to 312,405, with sales in China growing by 12.4%. International e-scooter sales climbed 50.3% to 53,311 units. The number of franchised stores in China was 3,345 as of September 30, 2024.
电动车销量同比增长了17.5%，达到312,405辆，中国市场销量增长了12.4%。国际电动车销量增长了50.3%，达到53,311辆。截止2024年9月30日，中国的特许连锁店数量为3,345家。
The quarterly gross margin declined 760 basis points Y/Y to 13.8%, mainly due to a higher proportion of kick-scooter sales in international markets, changes in the product mix of e-scooters, and increased sales incentives to franchisees in the Chinese market.
季度毛利率同比下降了760个基点，降至13.8%，主要是由于国际市场踢踏车销量比例增加，电动车产品组合变化，以及增加了中国市场特许经销商的销售激励。
The operating loss for the quarter was (58.49) million Chinese yuan versus a loss of (89.52) million Chinese yuan a year ago. The company held 1.05 billion Chinese yuan in cash and equivalents as of September 30, 2024.
该公司季度运营亏损为(5849)万人民币，而去年同期亏损为(8952)万人民币。截至2024年9月30日，该公司持有10.5亿人民币的现金及等价物。
CEO Yan Li noted that third-quarter sales growth fell short of targets due to recent policy changes in China affecting sales timing. However, retail demand remains robust, and the upcoming product lineup aligns with the new regulations, positioning the company well to manage these shifts. The launch of the NX Hyper electric motorcycle represents a key milestone, emphasizing a focus on performance and innovation.
CEO严立指出，由于中国最近的政策变化影响销售时间，第三季度销售增长未达到预期。但是，零售需求仍然强劲，并且即将推出的产品阵容符合新规定，使公司能够很好地应对这些变化。NX Hyper电动摩托车的推出代表着一个重要里程碑，强调了对性能和创新的关注。
Li added that the company has maintained a strong pace of new store openings this year, creating a solid base for future growth. At the recent Milan EICMA event, they introduced a series of new scooters, highlighting advanced design and innovative technology. These models will soon launch in the EU and the US.
严立补充道，该公司今年一直在维持新门店开张的强劲步伐，为未来增长打下了坚实基础。在最近的米兰EICMA活动中，他们推出了一系列新的电动车，突显出先进的设计和创新科技。这些型号将很快在欧盟和美国推出。
Li expressed confidence in navigating market changes and delivering strong performance.
李表达了对市场变化的导航和强劲业绩的信恳智能。
Outlook: Niu expects fourth-quarter revenues of 622 million Chinese yuan – 718 million Chinese yuan, representing a 30%-50% Y/Y increase.
展望： 小牛电动预计第四季度营收为62200万人民币至71800万人民币，同比增长30%-50%。
Niu Technologies stock plunged 7% year-to-date.
小牛电动股票今年以来下跌了7%。
Price Action: NIU shares closed lower by 0.50% at $1.99 on Friday.
价格走势： NIU股票周五收跌0.50%，报1.99美元。
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