Niu Technologies Swings to Q2 Loss Despite 24% Surge in E-Scooter Sales

Key Facts

Amid intensifying competition in the smart mobility sector, Niu Technologies' latest results highlight a stark contrast between operational growth and bottom-line pressure. The company reported Q2 2026 revenues of RMB 1,440.4 million, marking a 14.7% increase year-over-year. However, the financial performance shifted to a net loss of RMB 102.2 million, a significant reversal from the net income of RMB 5.9 million recorded in the same period of 2025.

Operational data shows that e-scooter sales volume surged by 24.2% to 434,687 units, primarily fueled by expansion within the Chinese market. Despite the higher sales volume, the company suffered from margin compression, with gross margins dropping from 20.1% to 16.0%. This decline suggests that aggressive pricing strategies or rising production costs are offsetting the gains from increased scale in the electric vehicle industry.

Moving forward, investors will focus on the company's path back to profitability, noting that specific instrument price levels were unavailable at the close of August 10, 2026. On the broader economic front, the recently reported China Services PMI of 50.4 reflects a cooling in service sector momentum, which may serve as a critical backdrop for the company's domestic growth trajectory in the coming months.