| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
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 2023.
| 4Q 2023 | 4Q 2022 | FY2023 | FY2022 | |
| China Market | 110,454 | 118,065 | 600,994 | 710,540 |
| International Markets | 27,022 | 20,214 | 108,808 | 121,053 |
| Total | 137,476 | 138,279 | 709,802 | 831,593 |
In the fourth quarter of 2023, NIU sold 137,476 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes. The number of units sold in China market and international markets were 110,454 and 27,022, respectively.
The macro environment in China, which has been recovering at a relatively slow pace, along with the usual cyclical fourth-quarter weakness, acted as a drag on NIU's domestic sales volume. Despite these challenges, our new products continued to perform well, with our mass-premium products accounting for 75% of the total domestic sales volume, a significant increase from 39% during the same period last year. Looking ahead to 2024, we are confident that our diverse product portfolio has been strategically aligned with the expected consumption trends and demand, which positions us well to capitalize on the continued recovery of the economy.
In international markets, we achieved a total sales volume of 27,022 units. Our offline retail sales exceeded 80% of the total micro-mobility sales volume, marking a significant increase from the 46% a year ago. This remarkable growth can be attributed to our strategic efforts in previous quarters to expand our retail partnerships, including notable additions such as BestBuy in the US and MediaMarkt in Europe. Additionally, our kick-scooter segment is consistently achieving steady growth.
For the full year 2023, the Company sold 709,802 units. The number of units sold in China market and international markets were 600,994 and 108,808, respectively.
Our sales volume count disclosed above is based on the delivery from our manufacturing facility, which may vary slightly from the sales volume measured from a financial accounting and reporting point of view. NIU's sales volume represents only one measure of the company's financial performance and should not be relied upon as an indicator of quarterly financial results, which depend on a variety of factors, including revenues from accessories, spare parts and services, cost of sales, operating expenses, etc.
Posted In: NIU
