Niu Technologies Eyes Comeback: Q4 Earnings Reveal Plans for 2024 Growth Despite Revenue Dip
Portfolio Pulse from Anusuya Lahiri
Niu Technologies (NASDAQ:NIU) reported a Q4 fiscal 2023 revenue decline of 21.8% to $67.42 million, with a net loss per ADS of $(0.23). Despite a slight decrease in e-scooter sales, international sales grew by 33.7%. The company anticipates a revenue increase of 5% to 15% in Q1 and aims for a 41% to 69% increase in sales volume for fiscal 2024. CEO Dr. Yan Li remains optimistic about regaining market favor in 2024, highlighting the success of new models like MQiL, RQi, and XQi3.
March 18, 2024 | 9:59 am
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Niu Technologies reported a Q4 revenue decline but expects growth in 2024 with new product successes and optimistic sales projections.
The detailed financial results and optimistic outlook for 2024, including expected revenue increase and sales volume growth, suggest a potential positive short-term impact on NIU's stock. The CEO's confidence and the success of new models could attract investor interest, despite the recent stock price decline.
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