BEIJING, April 06, 2021 (GLOBE NEWSWIRE) — Niu Applied sciences (“NIU”, or “the Firm”) (NASDAQ: NIU), the world’s main supplier of good city mobility options, as we speak supplies its e-scooter gross sales quantity outcomes for the primary quarter 2021 and replace on new merchandise launch.
|Q1 2021||Q1 2020|
Within the first quarter of 2021, NIU offered 149,649 e-scooters, representing a 272.6% year-over-year development. The variety of e-scooters offered in China market reached 144,654, representing a 321.5% year-over-year development. The variety of e-scooter offered within the worldwide markets reached 4,995, a lower of 14.5% year-over-year. The amount is in contrast on a year-over-year foundation as a substitute of on a quarter-over-quarter foundation attributable to sturdy seasonality in e-scooter market.
The expansion in China market was primarily pushed by retail community growth and efficient branding and advertising actions. The Firm launched the “Yr of the Niu” branding marketing campaign in the course of the previous Chinese language New Yr, because the 12 months of 2021 occurs to be the 12 months of Ox, or the 12 months of NIU in Chinese language. The overall models of G0 offered in the course of the first quarter represented roughly 39.5% of whole China market quantity. Excluding G0, the variety of e-scooters offered in China market reached 87,467, representing a 154.9% year-over-year development. The G0 mannequin has a decrease gross sales value and gross margin in contrast with different fashions, and excessive proportion of gross sales quantity from this mannequin has unfavourable impacts on the blended revenues per scooter and general gross margin for the primary quarter 2021.
The lower within the worldwide markets was primarily attributable to COVID-19, particularly the latest rebound and lockdowns in Europe, and by a more difficult atmosphere for worldwide delivery. As of March 31st, 2021, the Firm had backlog orders of 5,437 models which weren’t fulfilled inside the first quarter 2021.
On April 6th, 2021, the Firm launched 4 new merchandise, F0, F2, F4 and C0 fashions, within the e-scooter class primarily for China market and 1 new product within the kick-scooter class primarily for worldwide markets. The Firm additionally introduced upgrades of varied good features and elements on current MQi and UQi sequence merchandise to supply higher driving expertise.
The F0, F2, F4 and C0 fashions are beneath our GOVA sequence. The design languages of the 4 fashions are differentiated from our current product strains and such fashions are designed to serve totally different buyer teams in China. The F0, F2 and C0 fashions are labeled as electrical bicycle and the F4 mannequin is classed as electrical bike, in response to the related requirements in China. The F0 mannequin was launched by means of JD.com on April 6th at a retail gross sales value of RMB2,6991. The F2, F4 and C0 fashions are anticipated to be obtainable on the market in retail shops within the coming months.
The Firm additionally launched a brand new sequence for kick-scooter class. The product carries the identical NIU design language and is a brand new class that the Firm expanded to complement our choices for micro-mobility. The fashions beneath this sequence are anticipated to be mass produced and offered to worldwide markets within the 2nd half 2021.
Our gross sales quantity rely disclosed above is predicated on the supply from our manufacturing facility, which can fluctuate barely from the gross sales quantity measured from monetary accounting and reporting perspective. NIU’s gross sales quantity represents just one measure of the corporate’s monetary efficiency and shouldn’t be relied upon as an indicator of quarterly monetary outcomes, which rely on quite a lot of elements, together with revenues from equipment, spare elements and providers, price of gross sales, working bills, and so on.
Because the world’s main supplier of good city mobility options, NIU designs, manufactures and sells high-performance electrical bicycles, bikes and kick-scooters. NIU has a product portfolio consisting of eight sequence, 4 e-scooter sequence, together with NQi, MQi and UQi with good features and Gova, two city commuter electrical bikes sequence RQi and TQi, a efficiency bicycle sequence, NIU Aero, and a kick-scooter sequence. Completely different sequence of merchandise deal with the wants of various segments of recent city residents and resolve the calls for of various eventualities of city journey, whereas being united by means of a typical design language that emphasizes fashion, freedom and know-how. NIU has adopted an omnichannel retail mannequin, integrating the offline and on-line channels, to supply the services and products. For extra data, please go to www.niu.com.
Secure Harbor Assertion
This press launch incorporates statements which will represent forward-looking statements made beneath the “protected harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “goals,” “future,” “intends,” “plans,” “believes,” “estimates,” “more likely to” and comparable statements. Amongst different issues, the enterprise outlook and quotations from administration on this announcement, in addition to NIU’s strategic and operational plans, include forward-looking statements. NIU may additionally make written or oral forward-looking statements in its periodic reviews to the U.S. Securities and Trade Fee, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic information, together with statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Numerous elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: NIU’s methods; NIU’s future enterprise growth, monetary situation and outcomes of operations; NIU’s capability to take care of and improve its “NIU” model; its capability to innovate and efficiently launch new services and products; its capability to take care of and develop its offline distribution community; its capability to fulfill the mandated security requirements referring to e-scooters; its capability to safe provide of elements and uncooked supplies utilized in e-scooters; its capability to fabricate, launch and promote good e-scooters assembly buyer expectations; its capability to develop collaboration with operation companions; its capability to manage prices related to its operations; normal financial and enterprise circumstances in China and globally; and assumptions underlying or associated to any of the foregoing. Additional data concerning these and different dangers is included in NIU’s filings with the Securities and Trade Fee. All data offered on this press launch is as of the date of this press launch, and NIU doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.
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1 The retail gross sales value contains the supply charge of RMB200.