Niu Applied sciences’ This autumn Earnings Down 18% YoY

Niu Applied sciences, a supplier of good city mobility answers based totally in China, launched its This autumn and full-year monetary record for 2021 on Monday. Within the fourth quarter of ultimate yr, the corporate’s earnings was once 986 million yuan ($156 million), a year-on-year building up of 47%, whilst internet earnings totaled 47.6 million yuan, down 18% year-on-year.

All through 2021, the whole earnings of Niu Applied sciences, which is indexed at the Nasdaq, was once 3.705 billion yuan, an building up of 52% from 2020. Annual internet earnings had been 225.8 million yuan, whilst adjusted internet earnings (non-GAAP) had been 273 million yuan.

Within the fourth quarter of ultimate yr, the selection of e-scooters bought via Niu Applied sciences reached 238,188, up 58.3% year-on-year. Amongst them, the selection of e-scooters bought in China reached 205,239, up 49% year-on-year. In the end, the selection of e-scooters bought in world markets was once 32,949, up 156% year-on-year.

Via the tip of ultimate yr, the selection of the company’s franchised shops in China was once 3,108, an building up of 422 from September 30, 2021. Its world gross sales community expanded to 42 vendors overlaying 50 nations.

In This autumn ultimate yr, e-scooter gross sales earnings from the Chinese language marketplace amounted to 682.7 million yuan, an building up of 48% and representing 78% of overall e-scooter earnings. The rise was once principally pushed via retail community growth and new product launches in China.

In the similar quarter, e-scooter gross sales earnings from world markets was once 189.4 million yuan, an building up of 63.8% and representing 21.7% of overall e-scooter earnings. Then again, the typical promoting value of each and every scooter in in a foreign country markets was once 5,749 yuan within the quarter, down 36% year-on-year, whilst the typical home value was once 3,326 yuan in step with e-scooter, down rather from a yr previous.

Having a look on the complete yr, e-scooter gross sales earnings from the Chinese language marketplace and in a foreign country markets in 2021 represented 89.9% and 10.1% of the corporate’s overall earnings from e-scooter gross sales respectively. On the identical time, the typical promoting value in step with e-scooter in each home and in a foreign country markets lowered.

SEE ALSO: Founding father of Niu Applied sciences, Li Yinan, Finds New Automotive Logo, New SUV to Be Introduced in 2022

Niu Applied sciences expects earnings within the first quarter of 2022 to fall inside the vary of 657 million yuan to 712 million yuan, representing a year-over-year building up of 20% to 30%. The gross sales quantity for the overall yr of 2022 is anticipated to fall inside the vary of one.5 million to one.7 million gadgets, representing a year-on-year building up of 45% to 64%.