Summary by Moomoo AI
Niu Technologies reported strong Q3 2024 sales performance with total deliveries reaching 312,405 units, representing a 17.5% YoY increase. China market sales reached 259,094 units, while international markets contributed 53,311 units. The new NT model emerged as a standout performer, capturing nearly 20% of total sales with its advanced features including keyless ignition and TCS traction control.New model launches have proven successful, accounting for over 60% of quarterly sales in China. The company expanded its market reach through strategic initiatives, including a collaboration with JDG for the FX model launch targeting Gen Z consumers, and focused marketing campaigns on platforms like Xiaohongshu to attract female users.In international markets, the micro-mobility sector showed robust growth, with new models K100 and K300 accounting for over 50% of sales. These models gained significant traction across the EU, North America, and Asia Pacific regions, positioning the micro-mobility sector as a key driver for future growth.
