Niu Technologies, a prominent provider of electric two-wheelers, experienced a downward trend in quarterly sales during the final three months of 2025 as global volumes diminished notably, particularly outside of China. The Beijing-based firm reported selling 178,702 units across its diverse product range—which includes electric motorcycles, mopeds, bicycles, kick scooters, and e-bikes—in Q4 2025. This figure represents a decline from the 226,634 units sold in the corresponding period a year earlier.
Within China, Niu sold 158,782 units in the quarter, marking a year-over-year decrease from 182,333 units. The international segment reflected an even sharper reduction, with sales dropping to 19,920 units compared to 44,301 units during the fourth quarter of 2024.
Despite these setbacks in the last quarter, the company saw its total unit sales for the entire 2025 calendar year rise to 1,197,978 units, a notable increase over the prior year’s total of 924,340 units. The domestic market underpinned this growth, recording sales of 1,112,021 units against 759,094 units in 2024. Conversely, international sales shrank significantly, falling to 85,957 units from 165,246 units in the previous year.
The reduction in Chinese quarterly sales occurred amid seasonal softness in the urban smart mobility segment and was influenced by consumer demand acceleration prior to the introduction of new national e-bicycle standards. Additionally, comparisons were tempered by the challenging year-over-year baseline. These dynamics contributed to an overall 13% decrease in quarterly unit movement.
Nevertheless, certain product launches found success during this period. The FX "Windstorm" electric motorcycle, introduced in late September, emerged as the quarter’s top-selling model among Generation Z customers. Furthermore, the company's launch of e-bicycles designed to comply with updated regulatory standards garnered a strong initial response. These developments align with Niu’s intention to broaden its product offerings to meet shifting market preferences.
Looking ahead, Niu anticipates gaining traction and expanding its footprint in 2026 through product enhancements and focused regional growth initiatives. The firm is also actively refining its micromobility approach to better navigate a complex and evolving operational landscape worldwide.
Financial results disclosed in November 2025 support this narrative of growth augmented by operational efficiency. Quarterly revenues climbed by 65.4% year-over-year, reaching $237.94 million (equivalent to 1.69 billion Chinese yuan). This improvement stemmed from a 49.1% increase in sales volume coupled with an 11.0% rise in revenue per electric scooter. Additionally, the company’s adjusted earnings per diluted share were reported as 14 cents, reversing a loss of 7 cents in the previous year.
Market reaction to the release of the company’s latest figures was subdued, with Niu’s shares declining 3.59% to $3.02 in premarket trading on the Monday following the announcement, as per current market data.
Key Points
- Niu Technologies experienced a notable drop in total sales volumes during Q4 2025, driven mainly by international market contractions and lower Chinese demand amid regulatory and seasonal factors.
- Full year 2025 sales volumes rose significantly, supported chiefly by strong growth in the Chinese domestic market that offset worldwide decreases.
- New product introductions, including the FX "Windstorm" e-motorcycle and standards-compliant e-bicycles, received positive early market reception and are central to the company’s strategy moving forward.
- Financial results displayed robust revenue gains and a turnaround to positive earnings per share, indicating operational improvements alongside volume growth.
Risks and Uncertainties
- Continued softness and seasonal fluctuations in China’s smart urban mobility segment may pressure quarterly sales performance.
- Uncertainty remains regarding the company’s ability to reverse the decline in international markets, which experienced significant erosion in unit sales.
- Ongoing adjustments to national e-bicycle regulations could influence consumer purchase timing and demand patterns, possibly affecting future volumes.
- The dynamic and challenging global operating environment requires effective adaptation to sustain growth and profitability.