Niu Technologies (NIU.US) reported a 71.1% YoY increase in Q4 revenue, with a 64.9% YoY increase in e-vehicle sales.

Niu Technologies (NIU.US) released its fourth-quarter 2024 financial results. The report showed that Niu Technologies's Q4 revenue was RMB821.9 million, up 71.1% YoY; gross margin was 12.4%, down from 19.0% YoY; net loss was RMB72.5 million, down from RMB130.2 million YoY; adjusted net loss was RMB66.7 million, down from RMB122.4 million YoY.

The company sold 226,634 electric scooters in Q4, up 64.9% YoY. Of which, the sales of electric scooters in China were 182,333 units, up 65.1% YoY; the sales of electric scooters in overseas markets were 44,301 units, up 63.9% YoY.

As of December 31, 2024, the number of Niu's franchise stores in China was 3,735, and its international sales network had 57 distributors covering 53 countries.

Looking ahead, Niu Technologies expects its revenue in the first quarter of 2025 to be between RMB631 million and RMB707 million, up 25% to 40% YoY. The company also expects its electric scooter sales in 2025 to be between 1.3 million and 1.6 million units, up 40% to 70% YoY.

As of the time of writing, Niu Technologies's shares rose more than 8% before the opening of the US stock market on Monday.