Niu Technologies Records Nearly Flat Revenues In Q2; China E-Scooters Decline 1.0%
Portfolio Pulse from Shivani Kumaresan
Niu Technologies reported a 0.1% increase in Q2 FY23 revenue to $114.30 million, with e-scooter sales increasing 1.5% Y/Y to 211,996 units. However, sales in China fell by 1%. International e-scooter sales rose 17.1% to 33,429 units. The company expects Q3 revenues to decrease by up to 15%. NIU shares are trading lower by 0.54% at $3.65 in premarket trading.
August 14, 2023 | 11:48 am
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Niu Technologies reported a slight increase in Q2 FY23 revenue and e-scooter sales, but a decrease in China sales. The company expects a decrease in Q3 revenues. NIU shares are trading lower.
Niu Technologies reported a slight increase in Q2 revenue and e-scooter sales, but a decrease in sales in China, which is a significant market for the company. The company's expectation of a decrease in Q3 revenues could be negatively impacting investor sentiment, leading to the decrease in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100