- Niu Technologies NIU has reported a 58.3% growth year-on-year in e-scooter sales to 397,079 in the third quarter of FY2021.
- The company sold 392,112 units in China market, representing a 59.9% increase Y/Y.
- The growth in China market was mainly driven by retail network expansion and promotion activities.
- The number of e-scooters sold in the international markets declined 11.2% Y/Y to 4,967 due to the resurgence of COVID-19 in Europe and difficulties in ocean freight shipping.
- Out of the total sales volume, G0, F0, and C0 models constituted about 40.6%.
- Price Action: NIU shares closed lower by 0.32% at $25.13 on Friday.
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