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BEIJING -On Monday, Niu Technologies (NASDAQ:NIU) reported fourth quarter revenue that jumped 71% year-over-year.
The company’s shares were up 8.46% in premarket trading following the release.
The Chinese electric scooter maker posted revenue of RMB819.2 million ($112.2 million) in Q4, up 71.1% from RMB478.7 million in the same period last year. The growth was driven by a 64.9% increase in e-scooter sales volume to 226,634 units.
However, Niu reported a net loss of RMB72.5 million ($9.9 million) for the quarter, compared to a net loss of RMB130.2 million in Q4 2023. Adjusted net loss narrowed to RMB66.7 million from RMB122.4 million a year ago.
"In 2024, we experienced significant volume growth in China, driven by strong consumer demand for our new models," said CEO Dr. Yan Li. "By rapidly improving our design and technological capabilities, we have developed a diversified portfolio that addresses a broad range of market needs."
For the first quarter of 2025, Niu expects revenue between RMB631 million and RMB707 million, representing YoY growth of 25% to 40%.
The company also provided an optimistic outlook for full year 2025, forecasting e-scooter sales volume of 1.3 million to 1.6 million units, up 40% to 70% from 2024.
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