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Earnings Call Summary | Niu Technologies(NIU.US) Q1 2024 Earnings Conference

moomoo AI ·  May 20 17:00  · Conference Call

The following is a summary of the Niu Technologies (NIU) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Niu Technologies reported Q1 2024 sales volume of 129,000 units, marking a year-over-year increase of 37%.

  • Total revenue achieved was RMB504.7 million, reflecting a 21% rise compared to the same period last year.

  • In China, a rise in sales volume led to a 28.8% increase in scooter revenue.

  • Gross margin in Q1 did not see significant improvement due to changes in sales policies and bearing marketing expenses.

Business Progress:

  • A successful launch of the NXT model contributed to 25% of total sales revenue in the China market this quarter.

  • Global growth strategies are in effect, partnering with leading retailers to expand to over 1,200 locations worldwide.

  • Expansion of sales channels in both physical stores and online platforms have taken place.

  • The introduction of a female-focused scooter, the U1E, accounted for 12% of total sales volume.

  • The company expects growth in Q2, supported by new products and channel improvements.

  • The company is on schedule to achieve their sales volume target of over 1 million units in 2024.

More details: Niu Technologies IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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