Niu Technologies (NIU) reported Loss for its first quarter of -RMB93.921 million
The company's bottom line totaled -RMB93.921 million, or -RMB0.58 per share. This compares with -RMB38.844 million, or -RMB0.24 per share, last year.
The company's revenue for the period rose 33.4% to RMB909.524 million from RMB681.988 million last year.
Niu Technologies earnings at a glance (GAAP) :
-Earnings: -RMB93.921 Mln. vs. -RMB38.844 Mln. last year.-EPS: -RMB0.58 vs. -RMB0.24 last year.-Revenue: RMB909.524 Mln vs. RMB681.988 Mln last year.
This increase in revenue was primarily driven by a 28.7% increase in sales volume, complemented by a 5.6% rise in revenues per e-scooter.
For the first quarter, the company posted a net loss per ADS of RMB 1.16 as against RMB 0.49 per ADS in the same period last year.
Excluding items, loss was RMB 88.008 million, compared with RMB 31.354 million a year ago.
Looking ahead, for the second quarter, NIU expects revenue of RMB 1.570 billion to RMB 1.821 billion, representing a year-over-year increase of 25% to 45%.
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