Niu Technologies Sold 129,139 Units, Up 37% YoY In Q1 2024, With 110,115 Units (Up 35% YoY) Sold In China Market And 19,024 Units (Up 48% YoY) Sold In International Markets
Portfolio Pulse from Benzinga Newsdesk
Niu Technologies reported a 37% year-over-year increase in unit sales for Q1 2024, totaling 129,139 units. Sales in China rose by 35% to 110,115 units, while international sales surged by 48% to 19,024 units. The company highlighted the success of its new products, especially the premium flagship model NXT, which accounted for 26% of domestic sales and received over 10,000 pre-orders within two weeks of launch.
April 04, 2024 | 9:29 am
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POSITIVE IMPACT
Niu Technologies experienced significant growth in Q1 2024, with a 37% increase in unit sales. The NXT model's success and strong international market performance are key highlights.
The reported increase in sales, especially the 48% surge in international markets, indicates strong global demand for Niu Technologies' products. The NXT model's success, evidenced by its significant contribution to domestic sales and the rapid accumulation of pre-orders, suggests a positive market reception to new product lines. These factors combined are likely to boost investor confidence and potentially lead to a short-term uptick in NIU's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100