(NIU) NIU Technologies sold 238,188 units of e-motorcycles, e-mopeds, e-bikes, and kick-scooters in the fourth quarter of 2021, up 58.3% from the prior year.
In China, the units sold grew by 49.2% from the prior year to reach 205,239, with the sales fueled by retail network expansion. The company added 422 new stores in the fourth quarter in China.
New models G0, F0, and C0 posted lower sales price and gross margins in China compared to the other models.
Sales in the international market rose 155.8% year over year to 32,949 in the fourth quarter, reflecting a robust demand for newly launched advanced e-motorcycles and accretionary kick-scooters.
For FY21, NIU’s sales were 1,037,914 units, a 72.5% growth from the previous year. Chinese sales were 988,023, while international sales reached 49,891.
NIU: NASDAQ is up +0.90% on premarket.
