Niu Technologies Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 21, 2022 at 01:00 pm IST
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Niu Technologies reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was CNY 1,153.23 million compared to CNY 1,226.4 million a year ago. Net income was CNY 2.88 million compared to CNY 91.71 million a year ago. Basic earnings per share from continuing operations was CNY 0.04 compared to CNY 1.2 a year ago. Diluted earnings per share from continuing operations was CNY 0.04 compared to CNY 1.14 a year ago.
For the nine months, sales was CNY 2,556.33 million compared to CNY 2,718.48 million a year ago. Net loss was CNY 12.33 million compared to net income of CNY 178.17 million a year ago. Basic loss per share from continuing operations was CNY 0.16 compared to basic earnings per share from continuing operations of CNY 2.32 a year ago. Diluted loss per share from continuing operations was CNY 0.16 compared to diluted earnings per share from continuing operations of CNY 2.22 a year ago.
Niu Technologies is a China-based company mainly engaged in the manufacture of smart electric two-wheeled vehicles. The Company is mainly engaged in the design, manufacture and sales of high-performance motorcycles, scooters, bicycles and kick-scooters. The Company's products mainly include electric scooter and motorcycle series, NQi, MQi, UQi and Gova, electric kick-scooter series, KQi and e-bike series, NIU Aero. In addition, its products also include two high-performance motorcycle series, RQi and TQi, a hybrid motorcycle series, YQi and an e-bike series, BQi. The Company mainly operates in the domestic market .