Niu Stock Falls Premarket: E-Scooter Company Saw Q1 Sales Volume Plunge by 42%
Portfolio Pulse from Anusuya Lahiri
Niu Technologies reported a Q1 FY23 sales decline of 27.5% YoY to $60.75 million due to a 42.3% decrease in sales volume. E-scooter sales revenues in China and international markets also decreased by 33.3% and 18.8%, respectively. The company expects Q2 FY23 revenues to increase by 0%-15% YoY.
May 22, 2023 | 10:58 am
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Niu Technologies' Q1 FY23 sales declined by 27.5% YoY due to a 42.3% decrease in sales volume, causing the stock to fall 1.97% premarket.
Niu Technologies reported a significant decline in Q1 FY23 sales and sales volume, which negatively impacted the stock price. The decrease in e-scooter sales revenues in both China and international markets also contributed to the stock's decline.
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IMPORTANCE 80
RELEVANCE 100