Niu Technologies has announced its unaudited financial results for the second quarter of 2025, reporting a significant 33.5% year-over-year increase in revenues, amounting to RMB 1,255.7 million. The rise in revenues was primarily driven by a 36.7% increase in sales volume, although this was partially offset by a 2.3% decrease in revenues per e-scooter. The company achieved a net income of RMB 5.9 million, a notable improvement compared to a net loss of RMB 24.9 million during the same period in 2024. The net income margin for the quarter was 0.5%. Additionally, basic and diluted net income per ADS were both RMB 0.07 (US$ 0.01). The gross margin for the quarter improved to 20.1%, up from 17.0% in the second quarter of 2024. Share-based compensation expenses increased to RMB 7.9 million, compared to RMB 5.4 million in the previous year. Meanwhile, the company recorded an income tax benefit of RMB 12.5 million, contrasting with an income tax expense of RMB 1.0 million in the same quarter of the previous year. For the third quarter of 2025, Niu Technologies expects revenues to range from RMB 1,433 million to RMB 1,638 million, indicating a year-over-year increase between 40% and 60%.
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