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%.
小牛電動（納斯達克：NIU）報告2024財年第二季度營業收入增長13.5%，達到9,405萬人民幣（1,294.2萬美元），主要歸因於銷售成交量增長20.8%，部分抵銷電動滑板車營收單車收入下降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.
該公司每美國存托股份調整後虧損0.03美元，調整後淨虧損爲1950萬人民幣，而去年同期淨利潤爲1440萬人民幣。
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.
電動滑板車銷售數量同比增長20.8%，至256,162輛，中國市場銷售增長16.2%。國際市場電動滑板車銷售同比增長45.4%，至48,610輛。截至2024年6月30日，中國區域特許經營門店數量達到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個點子至17.0%，主要因中國市場高端車型佔比增加，價格更具競爭力，國際市場滑行車推廣所致。
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.
本季度運營虧損爲3,215萬人民幣，而去年同期虧損680萬人民幣。截至2024年6月10日，該公司持有1.14億人民幣的現金和現金等價物。
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，「今年我們推出的新產品在上半年佔據了超過50% 的擴張國內銷售總量。」
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 繼續表示，「與百思買等零售巨頭的戰略聯盟推動了小牛電動在美國市場的更深入滲透。」
Outlook: Niu expects third-quarter revenues of 1.298 billion Chinese yuan – 1.483 billion Chinese yuan, representing a 40%–60% Y/Y increase.
展望未來：小牛電動預計第三季度營業收入將達到1298 – 1483億人民幣，同比增長40%-60%。
Niu Technologies stock plunged over 47% in the last 12 months.
小牛電動股票在過去的12個月裏下跌了逾47%。
Price Action: NIU shares closed lower by 0.54% at $1.83 on Friday.
NIU Technologies 股票週五收盤下跌0.54%，報1.83美元。