China's NIU Technologies Q2 revenue rises on higher e-scooter sales volume

Niu Technologies

10/08/2026 09:13

Overview
China e-scooter maker's Q2 revenue rose 15% yr/yr on higher sales volume
Company posted Q2 net loss of RMB 102.2 mln, compared to net income last year
Gross margin fell to 16% from 20.1% due to product mix and higher supply costs

Outlook
NIU expects Q3 2026 revenue between RMB 1,863 mln and RMB 2,033 mln

Result Drivers
SALES VOLUME GROWTH - Revenue increase was mainly driven by a 24.2% rise in e-scooter sales volume, especially in China
PRODUCT MIX AND SUPPLY COSTS - Gross margin decline was mainly due to a shift in product mix in China and higher upstream supply chain costs
OPERATING EXPENSES RISE - Higher advertising, R&D, and foreign exchange losses led to a 28.6% increase in operating expenses

Company press release: ID:nGNX58tsGj

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
RMB 1.44 bln
 
Q2 Loss Per Share
 
RMB 0.63
 
Q2 Adjusted Net Loss
 
RMB 98.20 mln
 
Q2 Net Loss
 
RMB 102.20 mln
 
Q2 Gross Margin
 
16.00%
 
Q2 Operating Expenses
 
RMB 340.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for NIU Technologies is $3.10, about 26% above its August 7 closing price of $2.46
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads
Aug 7 - China Yuchai H1 profit rises on higher engine sales, gross margins
Aug 7 - India's Ola Electric posts narrower first quarter loss on higher EV sales
Aug 10 - China's Sohu.com Q2 revenue rises on growth in online gaming

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)