Shares of Niu Technologies (NIU) is gaining around 9% in the pre-market trading on the Nasdaq after the Chinese provider of smart urban mobility solutions announced that its sales volume increased in the fourth quarter and fiscal 2024.
For the fourth quarter, the sales volume increased 64.85 percent to 0.23 million units from last year's 0.14 million units.
The sales included e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes.
The company had a 65 percent growth in China compared to last year.
For the full year, the company's sales increased 30.23 percent to 0.93 million units from last year's 0.71 million units.
The micro-mobility segment delivered a 65 percent year-over-year growth in the fourth quarter and a 57 percent increase for the full year.
In the pre-market trading, NIU is 8.47% higher at $1.92.
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