Niu Technologies Announces Q2 2021 Financial Results
In Q2 2021, the company generated CNY 944.7 million in revenue, with a year-on-year increase of 46.5%.
According to Niu Technologies' Q2 2021 financial announcement:
- Revenue rose by 46.5%, reaching CNY 944.7 million.
- The gross profit margin was 22.7%, compared with 23.0% in the same period of 2020.
- Net profit hit CNY 91.8 million, representing a 61.6% growth, and the net profit margin was 9.7%.
- In Q2 2021, the company's sales volume hit 253,000 units (up 58.0%), with only 2.8% sales from overseas markets.
- Among the firm's major business, the revenue of electric scooters in the domestic market recorded CNY 758 million, representing a growth of 44.9%; its overseas revenue from electric scooters hit CNY 57.7 million, increasing 1.2% compared with 2020.
- The sales from low-priced models G0 and F0 represented 30.4% of total sales volume, declining from 38.2% in Q1 2021, with revenues pre scooter up 8.3% month-on-month.
- At the same time, Niu Technologies' sales and marketing expenditure reached CNY 68.9 million, showing an increase of approximately 51.1%; its R&D expenses hit CNY 30.8 million, with a rise of about 28.7%.
- By the end of August 16, 2021, the company's market capitalization was USD 1.7 billion (about CNY 11.0 billion), evaporating by CNY 15.4 billion.
According to Niu Technologies' Q2 2021 financial announcement:
- Revenue rose by 46.5%, reaching CNY 944.7 million.
- The gross profit margin was 22.7%, compared with 23.0% in the same period of 2020.
- Net profit hit CNY 91.8 million, representing a 61.6% growth, and the net profit margin was 9.7%.
- In Q2 2021, the company's sales volume hit 253,000 units (up 58.0%), with only 2.8% sales from overseas markets.
- Among the firm's major business, the revenue of electric scooters in the domestic market recorded CNY 758 million, representing a growth of 44.9%; its overseas revenue from electric scooters hit CNY 57.7 million, increasing 1.2% compared with 2020.
- The sales from low-priced models G0 and F0 represented 30.4% of total sales volume, declining from 38.2% in Q1 2021, with revenues pre scooter up 8.3% month-on-month.
- At the same time, Niu Technologies' sales and marketing expenditure reached CNY 68.9 million, showing an increase of approximately 51.1%; its R&D expenses hit CNY 30.8 million, with a rise of about 28.7%.
- By the end of August 16, 2021, the company's market capitalization was USD 1.7 billion (about CNY 11.0 billion), evaporating by CNY 15.4 billion.
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