Chinese electric scooter company Niu Technologies (NASDAQ:NIU) stock rose Monday after it reported its third-quarter results.
Niu reported a quarterly revenue growth of 65.4% year-over-year (Y/Y) to $237.94 million (1.69 billion Chinese yuan), driven by a 49.1% increase in sales volume complemented by an 11.0% increase in revenues per e-scooter.
Adjusted EPADS came in at 14 cents, reversing a loss of 7 cents a year earlier.
Also Read: Niu’s Secret To Crushing It In China’s E-Bike Market Revealed
The number of e-scooters sold was 465,873, up 49.1% Y/Y.
The number of e-scooters sold in China was 451,455, up 74.2% Y/Y.
The number of e-scooters sold in the international markets was 14,418, down 73.0% Y/Y.
The number of franchised stores in China was 4,542 as of September 30, 2025.
As of September 30, 2025, its international sales network had 57 distributors covering 53 countries.
E-scooter sales revenues from the China market were 1.48 billion Chinese yuan, an increase of 85.8% Y/Y, representing 95.7% of total e-scooter revenues. The increase was mainly due to a 74.2% increase in sales volume and a 6.7% increase in revenues per e-scooter in China market.
E-scooter sales revenues from international markets were 67.0 million Chinese yuan, a decrease of 48.6% Y/Y, and represented 4.3% of total e-scooter revenues. The decrease was mainly due to the decline in sales volume and revenues per e-scooter of kick-scooters in international markets.
Accessories, spare parts sales, and services revenues were 145.0 million Chinese yuan, an increase of 50.8% Y/Y, representing 8.6% of total revenues. The increase was mainly due to increased accessories and spare parts sales in China.
Revenues per e-scooter were 3,636 Chinese yuan, a 11.0% Y/Y increase mainly due to increased sales proportion and higher revenues per e-scooter in China market.
Gross margin expanded to 21.8%, up from 13.8% a year ago, mainly driven by a higher proportion of e-scooter sales and an improved gross margin in the China market, reflecting the positive impact of its cost-reduction initiatives.
Niu held 1.58 billion Chinese yuan in cash and equivalents as of September 30, 2025.
In the third quarter, the company’s peak season, CEO Dr. Yan Li says NIU achieved a strong 74.2% Y/Y increase in sales volume in China, driven by a competitive product portfolio and continued store expansion. As the business enters the seasonal low period and prepares for the new national standard, he says the team is proactively pushing channel expansion and product transition strategies.
Outlook
Niu expects fourth-quarter revenue of 737 million Chinese yuan-901 million Chinese yuan, representing a Y/Y change of -10% to +10%.
Price Action: NIU shares were trading higher by 8.74% to $4.230 premarket at last check Monday.
Read Next:
Photo by TY Lim via Shutterstock
