Niu Technologies

Niu Technologies reported second-quarter revenue of $212.29 million, a 14.7% year-over-year increase that beat estimates by $79.02 million. The company posted a GAAP loss of $0.19 per ADS, while gross margin narrowed to 16.0% from 20.1% a year earlier. E-scooter sales rose 24.2% to 434,687 units, driven by a 26.2% jump in China to 402,202 units, while international sales edged up 3.6% to 32,485 units. Niu expects third-quarter revenue between RMB 1,863 million and RMB 2,033 million, representing year-over-year growth of 10% to 20%.

Ninebot has released its 2026 semi-annual report. Revenue in the first half reached 14.357 billion yuan, up 22.28 percent year on year, but net profit attributable to the parent company was 1.008 billion yuan, down 18.79 percent, mainly due to exchange losses from currency fluctuations. The electric two-wheeler business, its largest revenue source, bucked the trend. Sales of smart electric two-wheelers reached 2.844 million units, up 19 percent year on year, with revenue of 7.49 billion yuan, up 10 percent. Over the same period, overall domestic industry sales were 28.252 million units, down 12.6 percent. Niu Technologies released its second-quarter report on the same day. Second-quarter revenue was 1.44 billion yuan, up 14.7 percent year on year, with total vehicle sales of 435,000 units, up 24.2 percent. Sales in the Chinese market reached 402,000 units, up 26.2 percent. The company expects third-quarter revenue to be between 1.863 billion and 2.033 billion yuan. Luyuan Group Holding issued a profit warning on July 28, expecting that profit attributable to company owners in the first half will fall by no more than 35 percent compared with the same period last year, mainly due to slowing demand during the consumer adaptation period after the transition to new national standards, and a significant increase in research and development and upfront investment for new business expansion.

The global market for low-powered electric motorcycles and scooters is projected to grow from an estimated 12.3 billion US dollars in 2025 to 17.5 billion US dollars by 2032, at a compound annual growth rate of 5.1 percent. The electric motorcycles segment is expected to reach 10.4 billion US dollars by 2032 with a CAGR of 4.2 percent, while the electric scooters segment is forecast to grow at a 6.7 percent CAGR. The United States market was valued at 3.8 billion US dollars in 2025, and China is forecast to grow at an 8.0 percent CAGR to reach 4.0 billion US dollars by 2032. Key drivers include advancements in lithium-ion and solid-state battery technology, government subsidies and infrastructure improvements, and rising adoption by delivery services and shared mobility platforms. Major companies in the market include Yadea, NIU Technologies, Ather Energy, Ola Electric, and Gogoro.