Sign in

    Yating Chen • China International Capital Corporation

    Yating Chen's questions to NIU Technologies (NIU) leadership

    Yating Chen's questions to NIU Technologies (NIU) leadership • Q2 2025

    Question

    Yating Chen of CICC inquired about the drivers behind the Q2 increase in average selling price (ASP) and gross profit margin, the outlook for these metrics in Q3, and the company's sales volume forecast for the domestic market next year amid investor concerns.

    Answer

    CFO Fion Zhou explained that the quarter-over-quarter ASP improvement was driven by a favorable product mix, including new higher-priced models in China and an increased proportion of e-motorcycles overseas. She attributed the gross margin strength to cost reduction initiatives and the higher ASP, noting China's domestic gross margin surpassed 21%. CEO Yan Li addressed the 2026 outlook, stating it's too early for a precise forecast but emphasized that ongoing product development for new standards and continued retail expansion will drive growth regardless of market shifts.

    Ask Fintool Equity Research AI

    Yating Chen's questions to NIU Technologies (NIU) leadership • Q1 2025

    Question

    Yating Chen from CICC asked for the reasons behind the quarter-over-quarter decrease in average selling price (ASP) while gross profit margin improved, and questioned the ASP outlook for subsequent quarters.

    Answer

    CFO Fion Zhou explained the Q1 ASP decline was due to a product mix shift toward lower-priced best-sellers, compared to higher-priced models launched in the prior year. She anticipates the domestic ASP will rebound to the RMB 3,000-3,500 range in Q2. The margin improvement was attributed to successful cost reduction initiatives, and she expects margins to remain at this improved level.

    Ask Fintool Equity Research AI

    Yating Chen's questions to NIU Technologies (NIU) leadership • Q4 2024

    Question

    Yating Chen of CICC inquired about Niu's 2025 sales target and long-term profitability plan for its kick scooter business, and also asked for the 2025 outlook on average selling price (ASP) and gross margin in the domestic China market.

    Answer

    CEO Yan Li projected 30-50% growth for kick scooters in 2025 and expects the segment to return to profitability, citing the mitigation of U.S. tariffs by moving production to Southeast Asia. CFO Fion Zhou added that for the domestic market, ASP is expected to increase slightly due to a strong mix of premium models. Gross margin is also anticipated to improve from economies of scale and potential adjustments to distributor margins.

    Ask Fintool Equity Research AI

    Yating Chen's questions to NIU Technologies (NIU) leadership • Q3 2024

    Question

    Yating Chen of China International Capital Corporation inquired about the expected trend for domestic scooter ASP following new standards, the future outlook for gross margin, and the year-to-date sales volume and 2025 forecast for overseas kick scooters.

    Answer

    CEO Yan Li explained that domestic Average Selling Price (ASP) is expected to rise due to new material requirements. He stated that Q3's gross margin was a low point, impacted by negative margins on U.S. kick scooters due to tariffs and a less favorable product mix in China. Li anticipates a recovery starting in Q4 2024, driven by cost savings, a better product mix, and shifting U.S. production to Southeast Asia in Q1 2025 to mitigate tariffs. For kick scooters, he reported over 120,000 units sold year-to-date and projected 50-60% volume growth for the next year.

    Ask Fintool Equity Research AI