BRIEF: Niu’s second-quarter sales rise 36.6%
Electric scooter manufacturer Niu Technologies (NIU.US) announced last Friday that it sold 350,090 e-motorcycles, e-mopeds, kick-scooters and e-bikes in the second quarter, up 36.6% from 256,200 units in the same period last year.
Sales in China reached 318,719 units, accounting for about 91% of the total and up 53% from 207,552 units a year earlier. But international sales fell by about 35% to 31,371 units.
The company said that several of its premium models ranked among the best-sellers on major platforms including Tmall, JD.com and Douyin during the “618 Mid-Year Shopping Festival” in June reinforcing its leadership in China’s high-end smart two-wheeler segment.
Niu’s stock rose more than 5% during the Monday trading day in New York before paring those gains to close up 1.79% at $3.42.
By Lee Shih Ta
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