Niu Technologies Announces Unaudited Second Quarter 2026 Financial Results
Niu Technologies (NASDAQ: NIU) reported unaudited Q2 2026 results for the quarter ended June 30, 2026. Revenue rose 14.7% YoY to RMB 1,440.4 million, but gross margin fell to 16.0% from 20.1%. The company posted a net loss of RMB 102.2 million versus net income of RMB 5.9 million in Q2 2025. E-scooter sales increased 24.2% YoY to 434,687 units.
How this was made
The 30-second read
Why it matters
Revenue grew 14.7% YoY to RMB 1,440.4m, but gross margin dropped to 16.0% from 20.1% and the company posted a net loss of RMB 102.2m versus net income of RMB 5.9m a year earlier. The company attributed revenue growth mainly to higher sales volume, while margin pressure was linked to product mix shifts in China and higher upstream supply chain costs, plus lower gross margin on international kick-scooters.
Market read
Traders will likely focus on the profitability deterioration (gross margin and net loss) and whether the margin drivers are structural (mix and supply costs) or temporary (including FX effects).
What to watch
General and administrative expenses surged largely due to FX losses, which may be non-recurring; traders may separate operating margin trends from FX-driven noise.
Background
Niu Technologies, a smart urban mobility provider, released unaudited Q2 2026 results for the quarter ended June 30, 2026.
Ticker impact
Niu Technologies reported Q2 2026 revenue of RMB 1,440.4m (+14.7% YoY) but gross margin fell to 16.0% and net loss widened to RMB 102.2m.
Likely bearish bias for the next session as traders reprice profitability risk despite revenue growth.
Key P&L metrics moved in opposite directions: revenue up, but gross margin down sharply (20.1% to 16.0%) and net loss swung from profit to loss, suggesting cost/mix headwinds.
Market effects
Highlights profitability pressure in shared micromobility, where mix shifts and upstream supply costs can outweigh volume gains.
China remains the dominant revenue driver (91.9% of e-scooter revenues), so domestic margin trends may influence sentiment for the category.
International revenue grew modestly, but lower gross margin on international kick-scooters adds to global profitability concerns.
Counterpoint
Volume growth (e-scooters sold +24.2% YoY) and higher accessories/services revenue (+29.0% YoY) could eventually stabilize margins if product mix and supply costs normalize.
Key entities
- public_companyNiu Technologies
Reported Q2 2026 unaudited financial results, including revenue growth, margin compression, and a net loss.
- executiveDr. Yan Li
CEO quoted on AI-enabled riding features in China and selective international alignment.

