The following is a summary of the Niu Technologies (NIU) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Niu Technologies reported a Q2 2024 total revenue of RMB 940 million, a 13.5% year-over-year increase.

• China accounted for 85% of total revenue, with scooter revenue in China up 14% year-over-year.

• Overseas revenue represented 15% of the total, with a noted increase in kick scooter sales.

• Gross margin was at 17%, a decrease of 6.1 percentage points year-over-year, mainly due to lower margins on China scooters and an increased proportion of overseas kick scooters.

Business Progress:

• Expansion in the overseas market with significant sales network partnerships including Best Buy, Walmart, Target, and others.

• Launched new premium products like NPlay electric motorcycle and UMax electric bicycle tailored to specific consumer demographics including Gen Z and women.

• Opened more than 400 new stores in the first half of the year, primarily in Tier 3 and Tier 4 cities in China.

• Significant efforts in improving same-store sales through an omni-channel approach, increasing online order proportion significantly.

Opportunities:

• Strategic focus on expanding the product portfolio and sales channels, particularly through premium and diversified offerings for different user demographics such as Gen Z and female consumers.

Risks:

• Gross margin pressures due to a shift towards higher sales of lower-margin kick scooters and implementation of direct sales strategy in crucial overseas markets.

More details: Niu Technologies IR

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