Niu Technologies has reported its unaudited financial results for the first quarter ending March 31, 2025. The company posted revenues of RMB 682.0 million, marking a 35.1% increase compared to the same period in 2024. This growth was primarily driven by a 57.4% rise in sales volume, though it was partially offset by a 14.2% decrease in revenues per e-scooter. The company reported a net loss of RMB 38.8 million for the first quarter of 2025, which represents an improvement from the net loss of RMB 54.8 million recorded in the same quarter of the previous year. For the second quarter of 2025, Niu Technologies anticipates revenues to range between RMB 1,317 million and RMB 1,411 million, reflecting a projected year-over-year increase of 40% to 50%. As of March 31, 2025, Niu Technologies reported having cash, cash equivalents, and term deposits amounting to RMB 747.2 million in total. Additionally, the company had restricted cash of RMB 215.3 million and short-term bank borrowings totaling RMB 220.0 million.