Niu Technologies American Depositary Shares 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- New Technologies reported a total sales volume of 434,000 units in Q2 2026, a 24% year-over-year increase.
- China sales reached 402,000 units, up 26% year over year, while overseas shipments were 32,485 units, up 3.6%.
- Total revenue for Q2 2026 was RMB 1.44 billion, a 14.7% year-over-year increase.
- Gross margin declined to 16%, down 4.1 percentage points from the prior year, due to product mix shift towards lower-margin electric motorcycles, elevated raw material costs, and inventory clearance in the international micro-mobility business.
- Operating expenses increased 29% to RMB 341 million, with selling and marketing expenses rising by RMB 36 million to RMB 239 million, driven by intensified domestic marketing.
- Net loss for Q2 2026 was RMB 102 million, compared to net income of RMB 5.9 million in the same period last year.
- Online sales in China grew 50% year over year, accounting for 64% of total domestic retail sales.
- The international electric motorcycle business grew 50% year over year to 4,800 units, with dealer network expanding from 307 to 417 stores.
- The micro-mobility international business completed channel transition, with retail activation exceeding 36,000 units, a 21% year-over-year growth.
STOCKNOW INSIGHTS
Continue with outlook and guidance.
Log in to unlock executive comments and Q&A highlights.
Log in for the full summaryStockNow uses AI to translate and summarize earnings calls. Accuracy and completeness are not guaranteed.
Transcript
Preview the first five paragraphs, organized by speaker.
Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Niu Technologies second quarter 2026 earnings conference call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session. Instructions will follow at that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. I will turn the call over to Ms. Crystal Li, Investor Relations Manager of Niu Technologies. Ms. Li, please go ahead.
Thank you, operator. Hello, everyone. Welcome to today's conference call to discuss Niu Technologies results for the second quarter 2026. The earnings press release, corporate presentation, and financial spreadsheets has been posted on our investor relations website. This call is being webcast from company's IR site as well. A replay of the call will be available soon. Please note, today's discussion will contain forward-looking statements made under the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties, assumptions and other factors. The company's actual results may be materially different from those expressed today. Further information regarding the risk factors is included in company's public filings with the Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required by law.
Our earnings press release and this call include a discussion of certain non-GAAP financial measures. The press release contains a definition of non-GAAP financial measures and the reconciliation of GAAP to non-GAAP financial results. On the call with me today are our CEO, Dr. Yan Li, and CFO, Ms. Fion Zhou. Let me turn the call over to CEO Yan.
Hello, everyone. Thank you for joining our second quarter 2026 results call. In the second quarter of 2026, we continue to execute our core mandate of high quality resilient growth while navigating a profound structural adjustment in the domestic two-wheeler market. Accelerating the strategic realignment of our international business. For Q2 2026, we will achieve a total sales volume of 434,000 units, representing a robust year-over-year increase of 24%. This expansion was propelled by the China sales reaching 400,000 units, up 26% year-over-year. Overseas shipments scale to 32,000 units, up 3.6% year-over-year, signaling a steady operation recovery in the international business. Total revenue for the quarter reached RMB 1.44 billion, representing a year-over-year growth of 14.7%. Gross margin stood at 16%. This primary trajectory was driven by three main factors.
First, the active promotional sales clearance and inventory write-off of our international micro-mobility business. Second, the structural product mix shift towards the higher volume electric motorcycles in China, which carries relatively lower margins compared to our historical premium e-bicycle segment. Third, ongoing cost pressure from elevated raw material prices. Crucially, those collective headwinds will partially offset our ongoing components platformization and the commercial cost reduction initiatives. Now I would like to provide more details on our performance and strategic executions across both China and the international market. First, let's talk about China market. In Q2 2026, the China sales volume grew 26% year-over-year to 400,000 units. This strong volume growth was achieved against the challenging regulatory and the macroeconomic backdrop.
FULL TRANSCRIPT
Continue the full translated transcript in StockNow.
Log in to unlock every statement, the English original, and speaker-by-speaker history.
Log in for the full transcriptCall participants
4 people spoke on this call — only 2 are shown here.
PARTICIPANT LIST
View participant details in StockNow.
Log in to see executives and analysts, their roles, and complete speaking history.
Log in to view all participantsKeep exploring