Electric scooter maker Niu Technologies (NIU.US) said on Monday its shipments rose 15.4% in the third quarter to 537,457 units from 465,873 a year earlier, as triple-digit gains for its international sales lifted slower single-digit growth in China.
The company said that China shipments of its electric two-wheelers, including bikes, kick-scooters and motorcycles, rose 8.6% year-on-year to 490,406 during the third quarter. Meanwhile, its international shipments more than tripled to 47,051 during the three-month period from 14,418 a year earlier.
The company’s shipments in the first nine months of the year rose 20.6% year-on-year to 1.23 million units, including gains of 19.7% in China and 41.2% in international markets, respectively.
Niu’s shares rose 3.2% on Monday to close at $1.94. The stock is down nearly 40% this year.
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