Niu Technologies ("NIU", or "the Company") (NASDAQ:NIU), the world's leading provider of smart urban mobility solutions, today provides its sales volume results for the fourth quarter and full year 2024.
| 4Q 2024 | 4Q 2023 | FY2024 | FY2023 | |
| China Market | 182,333 | 110,454 | 759,094 | 600,994 |
| International Markets | 44,301 | 27,022 | 165,246 | 108,808 |
| Total | 226,634 | 137,476 | 924,340 | 709,802 |
In the fourth quarter of 2024, the Company sold 226,634 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes. The number of units sold in China and in international markets were 182,333 and 44,301, respectively.
In China, we achieved remarkable success this quarter with a 65% year-over-year growth, driven by the successful launch of new models throughout 2024 and the fulfillment of Q3 backlog orders following the implementation of new battery and electric system safety standards in late October. The new models, meticulously tailored to cater to diverse consumer segments, accounted for over 70% of Q4 sales. Notably, models such as the N-Play, NX, NT, FX, and UMAX resonated strongly with the Gen Z riders, offering cutting-edge design and features that align with their dynamic lifestyles. Meanwhile, the U1e, MT, and OT models, combining style, functionality, and safety to elevate their riding experience, were tailored to target the female riders. This strategic focus on customer-centric innovation underscores our ability to anticipate market demands and capture emerging opportunities with precision.
Overseas, the micro-mobility segment delivered exceptional performance, achieving a 65% year-over-year growth in Q4 and a 57% increase for the full year. At EICMA in November, we marked our 10th anniversary by unveiling an exciting lineup of innovative products, including dirt bikes, electric motorcycles and advanced micro-mobility solutions. Over the past decade, NIU has steadily bolstered its global brand presence, earning widespread acclaim from riders, strategic partners and key opinion leaders worldwide.
For the full year of 2024, the Company sold 924,340 units. The number of units sold in China and in international markets were 759,094 and 165,246, respectively.
