Niu Stock Slides As Company Swings To Q2 Loss
The company reported second-quarter revenue of 1.44 billion Chinese yuan ($212.29 million), up 14.7% year over year, driven by a 24.2% increase in sales volume, partially offset by an 8.6% decrease in revenues per e-scooter. Basic and diluted net loss per ADS was 19 cents.
Adjusted net loss was 98.2 million Chinese yuan, compared with adjusted net income of 13.7 million Chinese yuan a year earlier.
Niu sold 434,687 e-scooters during the quarter, up 24.2% from a year earlier. China sales climbed 26.2% to 402,202 units, while international sales grew 3.6% to 32,485 units.
China Market Fuels Sales Momentum
