Niu Technologies Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 20, 2023 at 04:00 am EST
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Niu Technologies reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was CNY 927.02 million compared to CNY 1,153.23 million a year ago. Net loss was CNY 79.42 million compared to net income of CNY 2.88 million a year ago. Basic loss per share from continuing operations was CNY 1.02 compared to basic earnings per share from continuing operations of CNY 0.04 a year ago. Diluted loss per share from continuing operations was CNY 1.02 compared to diluted earnings per share from continuing operations of CNY 0.04 a year ago.
For the nine months, sales was CNY 2,173.07 million compared to CNY 2,556.33 million a year ago. Net loss was CNY 141.67 million compared to CNY 12.33 million a year ago. Basic loss per share from continuing operations was CNY 1.8 compared to CNY 0.16 a year ago. Diluted loss per share from continuing operations was CNY 1.8 compared to CNY 0.16 a year ago.
Niu Technologies is a China-based company mainly engaged in the manufacture of smart electric two-wheeled vehicles. The Company is mainly engaged in the design, manufacture and sales of high-performance motorcycles, scooters, bicycles and kick-scooters. The Company's products mainly include electric scooter and motorcycle series, NQi, MQi, UQi and Gova, electric kick-scooter series, KQi and e-bike series, NIU Aero. In addition, its products also include two high-performance motorcycle series, RQi and TQi, a hybrid motorcycle series, YQi and an e-bike series, BQi. The Company mainly operates in the domestic market .