electrical bike Niu Applied sciences Gives Third Quarter 2020 E-scooter Gross sales Quantity Replace Nasdaq:NIU
BEIJING, Oct. 09, 2020 (GLOBE NEWSWIRE) — Niu Applied sciences (“NIU”, or “the Firm”) (NASDAQ: NIU), the world’s main supplier of sensible city mobility options, in the present day offers its e-scooter gross sales quantity outcomes for the third quarter 2020.
|Q3 2020||Q3 2019||YTD 2020||YTD 2019|
Within the third quarter of 2020, NIU offered 250,889 e-scooters, representing a 67.9% year-over-year development. The variety of e-scooters offered in China market reached 245,293, representing an 70.2% year-over-year development. The variety of e-scooter offered within the worldwide markets reached 5,596, a rise of 6.3% in contrast with the third quarter final 12 months.
The expansion in China market was primarily pushed by new merchandise similar to G0, MQi2 and MQiS, launched earlier this 12 months. The full models of G0 offered throughout the third quarter represents roughly 27.6% of whole China market quantity. The full models of MQi2 and MQiS offered throughout the third quarter represents roughly 18.6% of whole China market quantity. The G0 mannequin has decrease gross sales value and gross margin in contrast with the present fashions, and excessive proportion of gross sales quantity from this mannequin has damaging impacts on the blended revenues per scooter and general gross margin for the third quarter.
The expansion within the worldwide markets was primarily pushed by the demand restoration in July and August after the extreme influence from COVID-19 within the second quarter. The expansion was nonetheless negatively affected once more by the rebound of COVID-19 since September.
Within the first three quarters of 2020, NIU offered roughly 451,187 e-scooters, representing a 43.2% year-over-year development. The variety of e-scooters offered in China market and worldwide markets reached 434,568 and 16,619, respectively.
Our gross sales quantity depend disclosed above relies on the supply from our manufacturing facility, which can differ barely from the gross sales quantity measured from monetary accounting and reporting standpoint. 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 upon quite a lot of components, together with revenues from equipment, spare components and companies, price of gross sales, working bills, and so forth.
Because the world’s main supplier of sensible city mobility options, NIU designs, manufactures and sells high-performance electrical bicycles and bikes. NIU has a product portfolio consisting of seven collection, 4 e-scooter collection, together with NQi, MQi and UQi with sensible features and Gova, two city commuter electrical bikes collection RQi and TQi, and a efficiency bicycle collection, NIU Aero. Completely different collection of merchandise handle the wants of various segments of recent city residents and resolve the calls for of various situations of city journey, whereas being united by a standard 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 accommodates statements which will represent forward-looking statements made underneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology similar to “will,” “expects,” “anticipates,” “goals,” “future,” “intends,” “plans,” “believes,” “estimates,” “more likely to” and related 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 details, together with statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Numerous components 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 capacity to take care of and improve its “NIU” model; its capacity to innovate and efficiently launch new services and products; its capacity to take care of and develop its offline distribution community; its capacity to fulfill the mandated security requirements regarding e-scooters; its capacity to safe provide of elements and uncooked supplies utilized in e-scooters; its capacity to fabricate, launch and promote sensible e-scooters assembly buyer expectations; its capacity to develop collaboration with operation companions; its capacity to manage prices related to its operations; basic financial and enterprise situations in China and globally; and assumptions underlying or associated to any of the foregoing. Additional data relating to 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 underneath relevant regulation.
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