Niu Technologies posts 33.4% Q1 revenue growth, guides strong Q2 outlook

Niu Technologies (NASDAQ:NIU), a leading provider of smart electric two-wheel vehicles, announced its unaudited financial results for the first quarter ended March 31, 2026.

First-quarter revenues increased 33.4% year-over-year to RMB909.5 million.

Total e-scooter sales volume grew 28.7% to 261,624 units, supported by 35.4% growth in the China market, partially offset by a 32.4% decline in international markets.

Gross margin stood at 17.4%.

The company reported a net loss of RMB93.9 million, with an adjusted net loss of RMB88 million.

As of March 31, 2026, Niu held RMB1,163.3 million in cash, term deposits and short-term investments.

For the second quarter of 2026, Niu guided revenue between RMB1,570 million and RMB1,821 million, representing expected year-over-year growth of 25% to 45%.