Q4 2025 NIU Technologies Earnings Call Transcript
Key Points
- Niu Technologies (NIU) achieved a full-year sales volume of 1.19 million units, marking a 29% year-on-year increase.
- The company reported a significant improvement in gross margin, reaching 19.6% for the full year, up 4.4 percentage points from the previous year.
- Domestic sales in China surged by 46.5% year-over-year, surpassing the 1 million unit milestone.
- Niu Technologies successfully expanded its product portfolio, particularly in the electric motorcycle segment, with the FX Windstorm model contributing significantly to sales.
- The company has made strategic advancements in its R&D, democratizing intelligent technology across more product tiers and introducing AI-enabled smart scooters.
- Fourth-quarter sales volume declined by 23.8% year-over-year, with a notable decrease in both domestic and international markets.
- Overseas sales volume fell by 68% year-over-year in the fourth quarter, reflecting challenges in international distribution channels.
- The company reported a net loss of RMB88 million for the fourth quarter and a non-GAAP net loss of RMB82 million.
- Niu Technologies faces inventory challenges, particularly with aged kick scooters, which account for more than 50% of the overall inventory.
- The implementation of new national standards for scooters in China is expected to lead to cost increases, requiring strategic price adjustments and cost reduction initiatives.
Good day, ladies and gentlemen. Thank you for standing by, and welcome to the Niu Technologies fourth-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. Now I will turn the call over to Ms. Kristal Li, Investor Relations Manager of Niu Technologies. Ms. Li, please go ahead.
Thank you, operator. Hello, everyone. Welcome to today's conference call to discuss Niu Technologies' results for the fourth-quarter 2025. The earnings press release, corporate presentation, and financial spreadsheets have been posted on our investor relations website. This call is being webcast from company's IR site as well, and a replay of the call will be available soon.
Please note, today's discussion will contain forward-looking statements made under the Safe Harbor provision of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties, assumptions,
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