Niu Technologies Clocks 58% Growth In Q3 E-Scooter Sales

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.