Niu Technologies (NIU) Form 6-K — Aug 10, 2026
Niu Technologies reported second quarter 2026 revenues of RMB 1,440.4 million, up 14.7% year over year, driven by a 24.2% jump in e-scooter volume to 434,687 units. Despite the top-line growth, the company swung to a net loss of RMB 102.2 million from year-ago net income of RMB 5.9 million, as gross margin fell to 16.0% from 20.1% on China product-mix shifts and rising upstream supply-chain costs. Revenues per e-scooter dropped 8.6% to RMB 3,029 and operating expenses grew 28.6%, outpacing revenue growth. General and administrative expenses surged 165.2% year over year, largely from RMB 19.0 million of foreign exchange losses versus RMB 25.3 million of FX gains a year earlier.
Key figures
- Eps
- RMB -1.26 per ADS (US$ -0.19), basic and diluted
- Revenue
- RMB 1,440.4 million (Q2 2026)
- Guidance
- Q3 2026 revenues expected in the range of RMB 1,863 million to RMB 2,033 million, representing 10% to 20% year-over-year growth
- Net Income
- Net loss of RMB 102.2 million (vs. net income of RMB 5.9 million in Q2 2025)
- Total Debt
- RMB 220.0 million short-term bank borrowings
- Revenue Yoy
- +14.7%
- Total Assets
- RMB 3,481.6 million (US$ 513.1 million)
- Cash Position
- RMB 1,475.8 million in aggregate cash and cash equivalents, term deposits and short-term investments
- Fx Rate Used
- RMB 6.7851 to US$ 1.00 as of June 30, 2026
- Ga Expenses
- RMB 50.5 million, up 165.2% YoY, including RMB 19.0 million FX losses vs. RMB 25.3 million FX gains in Q2 2025
- Gross Margin
- 16.0% vs. 20.1% in Q2 2025
- E Scooters Sold
- 434687
- Net Loss Margin
- 7.1% vs. net income margin of 0.5% in Q2 2025
- Cost Of Revenues
- RMB 1,210.0 million, up 20.6% YoY
- Restricted Cash
- RMB 217.9 million
- E Scooters Sold Yoy
- +24.2%
- Operating Expenses
- RMB 340.6 million, up 28.6% YoY
- E Scooters Sold China
- 402202
- Shareholders Equity
- RMB 718.1 million (down from RMB 904.9 million at Dec 31, 2025)
- Revenues Per EScooter
- RMB 3,029, down 8.6% YoY
- China E Scooter Revenue
- RMB 1,210.6 million, +14.6% YoY
- Franchised Stores China
- 4570
- Adjusted Net Loss Non Gaap
- RMB 98.2 million (vs. adjusted net income of RMB 13.7 million in Q2 2025)
- E Scooters Sold International
- 32485
- International EScooter Revenue
- RMB 106.3 million, +3.0% YoY
- Accessories And Services Revenue
- RMB 123.5 million, +29.0% YoY
AI analysis
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