Niu Technologies: Falls on Q3 revenue miss, dour outlook

Niu Technologies

23/11/2020 13:02

** Chinese e-scooter maker's shares  NIU.O  down ~6% at
$33.60 premarket, set for a second straight session of losses 
    ** Niu posts Q3 revenue of 894.5 mln yuan ($136.29 mln) vs.
analysts' estimates of 984.3 mln yuan, Refinitiv data showed
    ** Revenue per e-scooter sold declined 18.6% YoY; total
e-scooters sold in the quarter rose ~68% YoY  urn:newsml:reuters.com:*:nGNX2gYZFw
    ** Co sees Q4 revenue in range of 565 mln yuan to 615 mln
yuan, below expectations of 786.6 mln yuan
    ** Up to Friday's close, stock had risen ~319% this year
    
($1 = 6.5630 Chinese yuan renminbi)

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.mehta@thomsonreuters.com))