小牛电动（NIU）今日盘中大涨5.11%，引发市场广泛关注。这一显著涨幅主要源于公司发布的2025年第三季度财报超出市场预期。
根据小牛电动公布的未经审计财务报告，公司2025年第三季度实现营收16.939亿元人民币，同比增长65.4%；净利润达8170万元。值得注意的是，公司第三季度整车总销量达465,873辆，同比增长49.1%，其中中国市场表现尤为突出，整车销量达451,455辆，同比大增74.2%。此外，公司毛利率显著提升至21.8%，同比跃升8个百分点，反映出公司在产品组合优化与成本控制方面取得了显著成效。
面对即将于12月1日全面实施的电动车行业"新国标"，小牛电动CEO李彦表示公司已做好充分准备。李彦认为，"新国标"的实施不仅是行业规范化的契机，更是市场格局重塑的窗口。公司正全面推动产品迭代与渠道升级，有信心在新阶段进一步扩大领先地位。考虑到行业季节性因素及"新国标"实施前的市场观望期，小牛电动对第四季度业绩预期保持稳健，预计营收区间为人民币7.37亿元至9.01亿元。
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