Niu Technologies Provides Q3 2023 Sales Volume Update; Sold 265,923 Units Total In Q3
Portfolio Pulse from Benzinga Newsdesk
Niu Technologies (NASDAQ:NIU) reported Q3 2023 sales volume of 265,923 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters, and e-bikes. This is a decrease compared to the previous year due to a slowdown in consumer activity in China. However, new products contributed to approximately 80% of total sales in Q3. The company also reported consistent quarter-on-quarter growth in the overseas micro-mobility market, particularly in Europe and the United States.
October 06, 2023 | 8:07 pm
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Niu Technologies reported a decrease in sales volume for Q3 2023 compared to the previous year. However, new products have been well received, contributing to a significant portion of sales. The company also sees growth potential in the overseas micro-mobility market.
The decrease in sales volume could negatively impact the company's stock price. However, the successful launch of new products and potential growth in the overseas market could offset this impact.
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