Niu Technologies posts double-digit revenue growth in strong Q2

• Niu Technologies reported Q2 2026 revenue of RMB1,440.4 million, up 14.7% year over year, as e-scooter sales volume increased 24.2%.
• The company posted a net loss of RMB102.2 million as gross margin declined to 16.0% from 20.1%.
• Niu expects Q3 2026 revenue of RMB1,863 million–RMB2,033 million, representing 10%–20% year-over-year growth.

Niu Technologies (NASDAQ:NIU) reported Q2 2026 revenue of RMB1,440.4 million, up 14.7%, as e-scooter sales volume increased to 434,687 units.

Revenue increased from the prior-year period, but revenue per e-scooter declined 8.6% and gross margin fell to 16% from 20.1% due to product mix changes and higher upstream costs.

Niu reported a net loss of RMB102.2 million compared with net income of RMB5.9 million a year earlier, while operating expenses increased 28.6% to RMB340.6 million.

Following the announcement, Niu Technologies' share price was unchanged at the latest available market quote.

Niu ended June 30, 2026 with RMB1,475.8 million in cash, cash equivalents, term deposits and short-term investments, compared with RMB220 million in short-term bank borrowings.

The company’s operating expenses increased mainly from higher selling and marketing costs and increased general and administrative expenses, including foreign exchange losses.

For Q3 2026, Niu Technologies expects revenue of RMB1,863 million–RMB2,033 million, which represents 10%–20% year-over-year growth.