Niu Technologies: Surges on jump in Q2 e-scooter sales

Niu Technologies

06/07/2020 13:44

** Shares of Chinese electric scooter maker  NIU.O  jumps
~18% to $21.50 premarket
    ** Co sells 160,138 e-scooters in Q2, up 61.2% from a year
earlier
    ** Sells 154,959 e-scooters in China market in Q2,
representing an 81% y-o-y growth  urn:newsml:reuters.com:*:nGNX212PWn
    ** Says growth in China market partially driven by promotion
of new product G0, launched at discounted sales price of 1,999
yuan ($284.88) through an e-commerce platform since mid-May
    ** Says Q2 e-scooter sales in international markets down
62.3% to 5,179 compared with a year earlier
    ** NIU is up ~114% YTD, as of last close


($1 = 7.0169 Chinese yuan renminbi)

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))