(NIU) – Niu Applied sciences Registers 37{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} Income Development In Q3, Miss Estimates

  • Niu Applied sciences ADR (NASDAQ: NIU) reported third-quarter FY21 gross sales progress of 37.1{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} year-on-year, to RMB 1.23 billion ($190.3 million), lacking the analyst consensus of $217.3 million.
  • The variety of e-scooters offered elevated 58.3{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} Y/Y to 397,079, led by a 59.9{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} rise in China.
  • Worldwide e-scooters gross sales decreased 11.2{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} attributable to delivery difficulties brought on by the impression of COVID-19.
  • The variety of franchised shops in China was 2,686 as of September 30, 2021, a rise of 320 from June 30, 2021.
  • The gross margin for the quarter declined 90 foundation factors Y/Y to twenty{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52}.
  • The working margin was 8.4{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52}, and working revenue for the quarter rose 26.7{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} to RMB102.6 million ($15.9 million).
  • Earnings per ADS had been $0.18. The adjusted web revenue was RMB 102.2 million versus RMB 90.6 million final 12 months.
  • The corporate held RMB 1.6 billion in money and equivalents as of September 30, 2021.
  • “Our price optimization initiatives have proven constructive outcomes since September and we anticipate to profit extra sooner or later quarters,” mentioned CEO Yan Li.
  • Outlook: NIU expects This fall revenues of RMB 840 million to RMB 910 million, representing a year-over-year enhance of 25{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} – 35{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52}.
  • Value Motion: NIU shares are buying and selling decrease by 2.74{b02bdf04de3f9bc06c998e855c65941e7d8f5cd012e86469a83340818e6b6d52} at $23.4 in premarket on the final verify Monday.

 

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