Niu Technologies Provides Q4 And FY23 Sales Volume Update; Q4 Sales Volume 137,476 Vs 138,279 YoY; FY23 Sales Volume 709,802 Vs 831,593 YoY
Portfolio Pulse from Benzinga Newsdesk
Niu Technologies (NASDAQ:NIU) reported a slight decrease in sales volume for Q4 and FY23 compared to the previous year. Q4 sales were 137,476 units versus 138,279 units YoY, and FY23 sales were 709,802 units versus 831,593 units YoY. Despite a slow recovery in the China market, NIU's mass-premium products grew to 75% of domestic sales. Internationally, sales were bolstered by retail partnerships with BestBuy in the US and MediaMarkt in Europe, with offline retail sales making up over 80% of micro-mobility sales. The company cautions that sales volume is just one measure of performance and not a definitive indicator of financial results.
January 07, 2024 | 8:22 pm
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Niu Technologies reported a year-over-year decrease in sales volume for both Q4 and FY23, with a notable increase in mass-premium product sales and international market growth through retail partnerships.
While the sales volume decrease could be seen as negative, the growth in mass-premium products and successful international retail partnerships may offset investor concerns. The company's caution about sales volume not being the sole indicator of financial performance suggests that the impact on the stock price may be neutral in the short term.
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