Niu Technologies (NIU) stock prices surged by 7.01% shortly after market trading commenced on August 16th, 2021. This brought the price per share up to USD$22.76 early on in the trading day.
NIU Stock’s Sales Reports
NIU stock reported a strong second quarter of fiscal 2021. China sales volume was up 58.8%, while international markets sales volume was up by 34.8% as compared to the prior year quarter. This improvement is despite persisting challenges with Covid-19 and international logistics. The company’s new F0 and F2 products have been well received by customers, serving to contribute to the volume growth. Online sales accounted for 21.4% of total sales volume and reach an all time high as a result of the launch of F0 through e-commerce platform.
Additional Financials
The company’s product mix also improved as compared to the previous quarter. Sales volumes from low-priced models G0 and F0 represented 30.4% of total sales volume. This is comparable to 38.2% in the first quarter of the fiscal 2021. Resultingly, revenues per e-scooter were up by 8.3% over reports from the previous quarter. July 2021 saw NIU stock deliver another new model C0, which was specifically designed to cater to a female demographic.
Expansion of Product Portfolio
Retail sales price for C0 model starts higher than price for both the G0 and the F0. The company also began the pre-sale of its newly launched kick-scooter, the KQi3 model. The product has been launched in both European and US markets, with delivery expected at the start of the fourth quarter of 2021.
NIU Stock’s E-scooter Distribution
The number of e-scooters sold over Q2 2021 reached 252,998, up 58% from reports from the prior year quarter. Sales of e-scooters in China were up 48.8% year over year, coming in at 246,018. E-scooter sales sold in international markets were reported at 6,980, representing a 34.8% year over year increase. The end of the second quarter of fiscal 2021 saw NIU stock report 2,366 franchised stores in China. This represents an addition of 450 stores since March 31st 2021.
Future Outlook for NIU Stock
NIU stock reported a strong second quarter of fiscal 2021, with the company hoping to continue its trajectory of success. The company is keen to set the stage for unprecedented growth as the global economy returns to prepandemic levels. Investors are hopeful for consistent gains in shareholder value over the long term.
