Niu Technologies' Q2 revenue of 645 million, reaching market expectations

2020-08-18
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ChinaTech

Niu Technologies' Q2 revenue of 645 million, reaching market expectations

Chinese electric scooter brand Niu Technologies (Niu.com) released its unaudited financial report for the second quarter ending June 30, 2020 on August 17.


The financial report shows that Niu Technologies achieved revenue of 645 million yuan in the second quarter, an increase of 21.6% over the same period last year, reaching market expectations.


With the stabilization of the domestic epidemic, the company resumed healthy growth in the second quarter and is optimistic about the growth in the third quarter.


It expects revenue in the third quarter of 2020 to be between 850 million yuan and 950 million yuan, a year-on-year increase of 30% to 45%.


Niu Technologies, established in 2014, is a smart city travel solution provider, committed to providing users around the world with more convenient and environmentally friendly smart city travel tools and making urban life better. The core team mainly comes from the world's top companies such as BMW, Intel, Microsoft, Huawei, McKinsey and KKR.


Since the launch of the first smart lithium-ion electric scooter N1 in 2015, Niu Technologies has successively launched three series of N, M, and U, and a variety of products to meet consumers' multi-scenario and personalized travel needs.


Up to now, Niu Technologies has more than 600 sales outlets in China, covering more than 150 cities. It has entered more than 20 countries overseas to provide global users with richer and better quality products and services.


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