NIU's Fourth Quarter and Full Year 2022 Unaudited Financial...

NIU's Fourth Quarter and Full Year 2022 Unaudited Financial Results for those interested.

https://finance.yahoo.com/news/niu-technologies-announces-unaudited-fourth-081500538.html

-- Fourth Quarter Revenues of RMB 612.3 million, down 37.9% year over year

-- Fourth Quarter Net Loss of RMB 37.1 million, compared to net income of RMB 47.6 million in the same period of last year

-- Full Year Revenues of RMB 3,168.6 million, down 14.5% year over year

-- Full Year Net loss of RMB 49.5 million, compared to net income of RMB 225.8 million in 2021

BEIJING, March 20, 2023 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2022.

Fourth Quarter 2022 Financial Highlights

• Revenues were RMB 612.3 million, a decrease of 37.9% year over year

• Gross margin was 22.5%, compared with 22.6% in the fourth quarter of last year

• Net loss was RMB 37.1 million, compared with net income of RMB 47.6 million in the fourth quarter of last year

• Adjusted net loss (non-GAAP)¹ was RMB 26.2 million, compared with adjusted net income of RMB 60.2 million in the fourth quarter of last year

Fourth Quarter 2022 Operating Highlights

• The number of e-scooters sold was 138,279, down 41.9% year over year

• The number of e-scooters sold in China was 118,065, down 42.5% year over year

• The number of e-scooters sold in the international markets was 20,214, down 38.7% year over year

• The number of franchised stores in China was 3,102 as of December 31, 2022

• International sales network consisted of 53 distributors covering 52 countries as of December 31, 2022