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Niu Technologies
(NASDAQ:NIU)
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Rating:48Neutral
Price Target:
$2.00
▲(0.50% Upside)
Action:Reiterated
Date:09/09/26
The score is held back primarily by weak technical momentum (below major moving averages and negative MACD) and an only-partial financial recovery (improved cash flow and margins, but continued losses, revenue decline in 2025, and higher leverage). Valuation is also constrained by a negative P/E and no dividend yield data.
Positive Factors
China demand and delivery growth
Strong domestic demand and higher e-scooter volumes indicate that NIU's core China market can still support meaningful scale expansion. Sustained unit growth improves operating leverage, broadens the installed customer base, and creates a larger platform for accessories and connected services.
Negative Factors
Margin pressure and renewed net loss
The latest results show that volume growth is not yet translating into durable earnings because lower-priced product mix, upstream costs, marketing, and foreign-exchange expenses compressed profitability. Persistent margin pressure could limit reinvestment and delay a dependable return to net profit.
Read all positive and negative factors
Positive Factors
Negative Factors
China demand and delivery growth
Strong domestic demand and higher e-scooter volumes indicate that NIU's core China market can still support meaningful scale expansion. Sustained unit growth improves operating leverage, broadens the installed customer base, and creates a larger platform for accessories and connected services.
Read all positive factors
Niu Technologies (NIU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$152.95M
Dividend YieldN/A
Average Volume (3M)163.00K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth28.79%
EPS Growth-42.90%
CountryUS
Employees671
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-2.50
Shares Outstanding70,825,080
10 Day Avg. Volume87,446
30 Day Avg. Volume163,000
Financial Highlights & Ratios
PEG Ratio0.55
Price to Book (P/B)1.87
Price to Sales (P/S)0.40
P/FCF Ratio9.64
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.39
Revenue Forecast (FY)$5.37B
Niu Technologies Business Overview & Revenue Model
Company Description
Niu Technologies, a Chinese company established in 2014 and headquartered in Beijing, specializes in the design, production, and sale of intelligent electric vehicles, primarily focusing on the People's Republic of China market. Its diverse produc...
How the Company Makes Money
Niu Technologies primarily makes money by selling electric two-wheeled vehicles. The company generates revenue mainly from (1) sales of e-scooters/e-motorcycles to customers through distribution and retail networks and other sales channels, and (2...
Niu Technologies Earnings Call Summary
Earnings Call Date:May 18, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 23, 2026
Earnings Call Sentiment Positive
The call presents a constructive strategic narrative: strong top-line growth (revenue +33% YoY; unit volume +~29% YoY), a clear and successful product/brand shift (notably a 3x surge in electric motorcycles and successful new-product launches), substantial marketing and technology investments to capture future premium demand, and improved gross margins. Offsetting these positives are meaningful near-term headwinds: a wider GAAP loss, a large deliberate increase in operating and marketing spend, overseas micro-mobility declines and elevated inventories that will require discounting and depress margins in the near term. Management frames many negatives as temporary, strategic trade-offs to achieve longer-term, higher-quality growth.Positive Updates
Strong Unit and Revenue Growth
Total sales volume of ~261–262k units, up ~28.7%–29% year-over-year; revenue of RMB 909.5–910 million, up ~33.4% year-over-year (RMB +228m).
Negative Updates
Widening GAAP Net Loss
GAAP net loss increased to RMB 94 million (net loss margin 10.3%) in Q1 from RMB 39 million (5.7% margin) a year ago; non-GAAP net loss was RMB 88 million (9.7% margin), reflecting higher operating expense and front-loaded investments.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Unit and Revenue Growth
Total sales volume of ~261–262k units, up ~28.7%–29% year-over-year; revenue of RMB 909.5–910 million, up ~33.4% year-over-year (RMB +228m).
Read all positive updates
Company Guidance
Management guided Q2 revenue to RMB 1.57 billion–RMB 1.82 billion, implying year‑over‑year growth of about 25%–45% (outlook as of the call and subject to change). That guidance follows Q1 revenue of ~RMB 909–910 million on ~261–262k units sold (China ~248k, overseas ~13–14k), a Q1 gross profit >RMB 159 million with a 17.4% gross margin, and a front‑loaded marketing push (Q1 selling & marketing ~RMB 180 million, ~19.8% of revenue, a 4x+ YoY increase) which management expects to normalize in Q2. Management also expects the electric‑bicycle market to recover gradually through Q2, will phase the NXT2/Y Series ahead of the June/618 selling season, plans targeted price promotions to clear elevated international micro‑mobility inventories (with inventory normalization largely complete by H2 2026 but depressing micro‑mobility contribution margins in the near term), and expects the international electric‑motorcycle dealer footprint to exceed 400 locations by year‑end (up from 360 in Q1).Niu Technologies Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
54
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.71B | 4.19B | 3.29B | 2.65B | 3.17B | 3.70B |
| Gross Profit | 859.53M | 820.59M | 498.76M | 570.75M | 669.68M | 812.78M |
| EBITDA | -210.02M | 58.07M | -89.04M | -132.54M | 77.21M | 374.50M |
| Net Income | -200.79M | -38.31M | -193.20M | -271.84M | -49.46M | 225.82M |
Balance Sheet | ||||||
| Total Assets | 3.48B | 2.95B | 2.61B | 2.19B | 2.54B | 2.44B |
| Cash, Cash Equivalents and Short-Term Investments | 1.48B | 1.33B | 904.37M | 970.13M | 903.28M | 1.08B |
| Total Debt | 222.56M | 638.65M | 495.69M | 272.66M | 492.14M | 345.23M |
| Total Liabilities | 2.76B | 2.05B | 1.68B | 1.10B | 1.23B | 1.18B |
| Stockholders Equity | 718.15M | 905.51M | 931.28M | 1.09B | 1.31B | 1.26B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 175.46M | -67.46M | 14.80M | -1.76B | 48.43M |
| Operating Cash Flow | 0.00 | 353.27M | 52.29M | 93.74M | -834.96M | 334.17M |
| Investing Cash Flow | 0.00 | -90.60M | -292.43M | 216.31M | 2.73B | -295.06M |
| Financing Cash Flow | 0.00 | 40.16M | 100.27M | -59.35M | -121.94M | 6.25M |
Niu Technologies Technical Analysis
Negative
1.99
Price Trends
2.22
Negative
2.43
Negative
2.86
Negative
Market Momentum
-0.09
Negative
36.77
Neutral
46.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NIU, the sentiment is Negative. The current price of 1.99 is below the 20-day moving average (MA) of 2.01, below the 50-day MA of 2.22, and below the 200-day MA of 2.86, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 36.77 is Neutral, neither overbought nor oversold. The STOCH value of 46.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NIU.
Niu Technologies Risk Analysis
Niu Technologies disclosed 85 risk factors in its most recent earnings report. Niu Technologies reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
Our business is subject to seasonal and quarterly fluctuations, and if our sales fall below our forecasts, our overall financial condition and results of operations could be adversely affected. Q4, 2023
2.
Rising international political tension, including changes in U.S. and international trade policies, particularly with regard to China, may adversely impact our business and operating results. Q4, 2023
Niu Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
48 Neutral | $152.95M | -5.09 | -23.44% | ― | 28.79% | -42.90% | |
45 Neutral | $33.77M | -0.48 | -253.36% | ― | 112.11% | 96.59% | |
44 Neutral | $7.13M | >-0.01 | 913.54% | ― | 146.58% | 75.63% | |
39 Underperform | $10.54M | -0.06 | -153.17% | ― | -39.70% | 13.16% |
* Consumer Cyclical Sector Average
NIU
Niu Technologies
1.90
-2.41
-55.92%
WKHS
Workhorse Group
3.10
-11.18
-78.29%
CENN
Cenntro Electric Group
4.20
-27.78
-86.87%
FFAI
Faraday Future Intelligent Electric
1.84
-241.16
-99.24%
Niu Technologies Corporate Events
Niu Technologies Posts Q2 2026 Revenue Growth but Swings to Net Loss
Aug 10, 2026
Niu Technologies reported unaudited results for the quarter ended June 30, 2026, showing revenues of RMB 1,440.4 million, up 14.7% year on year, driven by a 24.2% increase in e-scooter sales volume and strong growth in accessories and app services...
Niu Technologies Posts Strong Q2 2026 Sales Growth on China Demand
Jul 6, 2026
Niu Technologies reported second-quarter 2026 sales of 434,687 electric two-wheel units, including motorcycles, mopeds, bicycles, kick-scooters and e-bikes, with 402,202 units sold in China and 32,485 in international markets. For the first half o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.