Niu Technologies Reports Fourth Quarter and Full Year 2020 Results
Niu Technologies (NYSE: $NIU) reports an increase in unit sales, revenues and more, with a line-up of 3 different series of Electric scooters, Niu offer different sub-models for each of their NQi, MQi, and UQi -series scooters.
Each series model offers both a “Sport model” and “GT”, varied in motor size. The motor sizes are 1.8kW or 3kW for a GT model, which reaches a top speed of 42mph (70km/h), backed by a battery pack of 60V 35Ah 2.1kWh (Optional dual battery) or a 21Ah 48V, 1kWh battery for the UQi model.
The estimated range for Niu scooters is anywhere from 45-65km for the Sport models, and about 70-80km Range, 100km @25km/h on the GT. Now, obviously going 25km/h is out of the question, but we can assume a 40-50 miles would be easily achievable.
Niu also plans to expend their offering into full scale motorcycles with the RQI-GT, a powerful 30kW mid-mounter motor drive, with a bigger battery size expected to be 7kWh. The RQi-GT is expected to drive further tail winds for Niu, as they process to expend their partnerships worldwide with more dealerships.
The number of e-scooters sold reached 150,465, up 41.6% year over year
The number of e-scooters sold in China reached 137,586, up 35.0% year over year
The number of e-scooters sold in the international markets reached 12,879, up 197.1% year over year
The number of franchised stores in China was 1,616, an increase of 350 since September 30, 2020
International sales network expanded to 36 distributors covering 46 countries
RQi-GT: coming soon. Full spec
NQi series: Full spec and price
MQi series: Full spec and price
UQi GT: Full spec and price
As for financials, Niu beats analysts expectation, as they continue to grow year over year in sale revenue as well as income. Where it seems the company was willing to decrease its margin slightly for the sake of expending and delivering far more units overall.
— Fourth Quarter Total volume of e-scooter sales up 41.6% year over year
— Fourth Quarter Revenues of RMB 672.0 million, up 25.3% year over year
— Fourth Quarter Net income of RMB 58.2 million, compared with RMB 60.7 million in the fourth quarter of last year
— Full Year Total volume of e-scooter sales up 42.8% year over year
— Full Year Revenues of RMB 2,444.3 million, up 17.7% year over year
— Full Year Net income of RMB 168.7 million, compared with net income of RMB 190.1 million in 2019
Niu continues to expect rapid growth, as do we expect to see in the rapidly growing space of electric 2-wheelers. With increasing demand, and high rate of expending, Niu can definitely capitalize on a hungry market. The offering for Niu is diverse, and brings extremely attractive pricing and affordable rides.
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