China's Niu Technologies falls on slump in fourth-quarter sales

Niu Technologies

06/01/2023 13:51

** Shares of China-based electric scooter company Niu
Technologies  NIU.O  down 4.4% at $5.80 in premarket trading 
    ** NIU sells 138,279 units, including e-motorcycles,
e-mopeds, e-bicycles and kick-scooters in Q4, representing 41.9%
y-o-y decline  urn:newsml:reuters.com:*:nGNX1t2tkJ
    ** Says number of units sold in China market and
international markets fell 42.5% and 38.7% y-o-y
    ** "In China market, we experienced even more challenges
from Covid development and related policy changes during the
quarter" - Niu
    ** Stock fell ~68% in 2022
 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))