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Stocks · Consumer discretionary · Motor Vehicles & Passenger Car Bodies

Niu Technologies

NIU Clue Score44
Cayman Islands Fiscal year ends December CIK 0001744781
$1.97 +4.79% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $1.97 −92.03% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 19 Oct 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue354.8Operating income−226.5Net income−232.7Fiscal year 2017Revenue769.4 +116.8%Operating income−141.8Net income−184.7EPS, diluted−7.02Fiscal year 2018Revenue1,477.8 +92.1%Operating income−314.4Net income−349.0EPS, diluted−5.30Fiscal year 2019Revenue2,076.3 +40.5%Operating income186.7Net income190.1EPS, diluted1.24Fiscal year 2020Revenue2,444.3 +17.7%Operating income170.6Net income168.7 −11.3%EPS, diluted1.07Fiscal year 2021Revenue3,704.5 +51.6%Operating income252.5Net income225.8 +33.9%EPS, diluted1.41Fiscal year 2022Revenue3,168.6 −14.5%Operating income−89.3Net income−49.5 −121.9%EPS, diluted−0.32Fiscal year 2023Revenue2,651.8 −16.3%Operating income−317.5Net income−271.8EPS, diluted−1.73Fiscal year 2024Revenue3,288.3 +24.0%Operating income−250.6Net income−193.2EPS, diluted−1.22Fiscal year 2025Revenue4,307.9 +31.0%Operating income−88.2Net income−39.4EPS, diluted−0.25
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 354.8 769.4 1,477.8 2,076.3 2,444.3 3,704.5 3,168.6 2,651.8 3,288.3 4,307.9
Growth +116.8% +92.1% +40.5% +17.7% +51.6% −14.5% −16.3% +24.0% +31.0%
Operating income −226.5 −141.8 −314.4 186.7 170.6 252.5 −89.3 −317.5 −250.6 −88.2
Net income −232.7 −184.7 −349.0 190.1 168.7 225.8 −49.5 −271.8 −193.2 −39.4
Growth −11.3% +33.9% −121.9%
EPS, diluted n/a −7.02 −5.30 1.24 1.07 1.41 −0.32 −1.73 −1.22 −0.25

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin−3.6%Operating margin−63.8%Net margin−65.6%Free cash flow margin−37.6%Fiscal year 2017Gross margin7.1%Operating margin−18.4%Net margin−24.0%Free cash flow margin7.4%Fiscal year 2018Gross margin13.4%Operating margin−21.3%Net margin−23.6%Free cash flow margin−1.6%Fiscal year 2019Gross margin23.4%Operating margin9.0%Net margin9.2%Fiscal year 2020Gross margin22.9%Operating margin7.0%Net margin6.9%Fiscal year 2021Gross margin21.9%Operating margin6.8%Net margin6.1%Free cash flow margin1.3%Fiscal year 2022Gross margin21.1%Operating margin−2.8%Net margin−1.6%Free cash flow margin−8.1%Fiscal year 2023Gross margin21.5%Operating margin−12.0%Net margin−10.3%Free cash flow margin0.6%Fiscal year 2024Gross margin15.2%Operating margin−7.6%Net margin−5.9%Free cash flow margin−2.1%Fiscal year 2025Gross margin19.6%Operating margin−2.0%Net margin−0.9%Free cash flow margin4.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin −3.6% 7.1% 13.4% 23.4% 22.9% 21.9% 21.1% 21.5% 15.2% 19.6%
Operating margin −63.8% −18.4% −21.3% 9.0% 7.0% 6.8% −2.8% −12.0% −7.6% −2.0%
Net margin −65.6% −24.0% −23.6% 9.2% 6.9% 6.1% −1.6% −10.3% −5.9% −0.9%
Free cash flow margin −37.6% 7.4% −1.6% n/a n/a 1.3% −8.1% 0.6% −2.1% 4.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−123.1Capital expenditure−10.3Free cash flow−133.4Fiscal year 2017Operating cash flow80.1Capital expenditure−23.2Free cash flow56.8Fiscal year 2018Operating cash flow8.6Capital expenditure−32.0Free cash flow−23.4 −141.3%Buybacks−4.2Fiscal year 2019Operating cash flow178.7Fiscal year 2020Operating cash flow465.6Fiscal year 2021Operating cash flow334.2Capital expenditure−285.7Free cash flow48.4Fiscal year 2022Operating cash flow−121.9Capital expenditure−135.3Free cash flow−257.2 −631.1%Fiscal year 2023Operating cash flow93.7Capital expenditure−78.9Free cash flow14.8Fiscal year 2024Operating cash flow52.3Capital expenditure−119.7Free cash flow−67.5 −555.8%Fiscal year 2025Operating cash flow353.3Capital expenditure−177.8Free cash flow175.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −123.1 80.1 8.6 178.7 465.6 334.2 −121.9 93.7 52.3 353.3
Capital expenditure −10.3 −23.2 −32.0 n/a n/a −285.7 −135.3 −78.9 −119.7 −177.8
Free cash flow −133.4 56.8 −23.4 n/a n/a 48.4 −257.2 14.8 −67.5 175.5
Growth −141.3% −631.1% −555.8%
Buybacks n/a n/a −4.2 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash202.1Shareholders’ equity−213.2Fiscal year 2017Cash281.9Shareholders’ equity−325.2Fiscal year 2018Cash748.3Shareholders’ equity570.4Fiscal year 2019Cash501.6Shareholders’ equity791.5Fiscal year 2020Cash227.0Shareholders’ equity993.4Fiscal year 2021Cash208.4Shareholders’ equity1,264.6Fiscal year 2022Cash534.3Shareholders’ equity1,310.1Fiscal year 2023Cash872.6Shareholders’ equity1,093.6Fiscal year 2024Cash630.0Shareholders’ equity931.3Fiscal year 2025Cash924.7Shareholders’ equity904.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 202.1 281.9 748.3 501.6 227.0 208.4 534.3 872.6 630.0 924.7
Shareholders’ equity −213.2 −325.2 570.4 791.5 993.4 1,264.6 1,310.1 1,093.6 931.3 904.9

In millions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of CNY, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018† 31 Dec 2018 FY2019† 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
354.8 769.4 1,477.8 2,076.3 2,444.3 3,704.5 3,168.6 2,651.8 3,288.3 4,307.9
Growth +116.8% +92.1% +40.5% +17.7% +51.6% −14.5% −16.3% +24.0% +31.0%
367.6 714.7 1,279.2 1,589.7 1,885.2 2,891.8 2,498.9 2,081.0 2,789.5 3,464.3
−12.8 54.7 198.6 486.6 559.1 812.8 669.7 570.7 498.8 843.6
Growth +263.1% +145.0% +14.9% +45.4% −17.6% −14.8% −12.6% +69.1%
33.1 39.5 91.8 67.2 105.3 135.2 176.5 151.0 130.1 166.5
90.8 74.8 272.5 79.6 104.9 141.8 158.5 244.5 130.6 91.0
−226.5 −141.8 −314.4 186.7 170.6 252.5 −89.3 −317.5 −250.6 −88.2
Growth −8.6% +48.0% −135.4%
−232.7 −184.7 −349.0 198.3 189.7 272.9 −71.2 −282.0 −216.8 −62.4
n/a 0.0 0.0 8.2 21.1 47.0 −21.8 −10.2 −23.6 −23.0
−232.7 −184.7 −349.0 190.1 168.7 225.8 −49.5 −271.8 −193.2 −39.4
Growth −11.3% +33.9% −121.9%
Per share
n/a −7.02 −5.30 1.28 1.12 1.47 −0.32 −1.73 −1.22 −0.25
n/a −7.02 −5.30 1.24 1.07 1.41 −0.32 −1.73 −1.22 −0.25
Growth −13.7% +31.8% −122.7%
n/a 26.3 65.8 149.0 150.9 153.7 155.2 156.8 158.5 159.7
n/a 26.3 65.8 153.2 157.8 160.5 155.2 156.8 158.5 159.7
Growth +150.4% +132.8% +3.0% +1.7% −3.3% +1.1% +1.0% +0.8%

† The diluted share count jumps at 2018 and 2019, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Shown in CNY as filed; the screener converts to dollars.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 12.0% a year over five years.
  • Operating margin is down 9.0 points on five years ago, at -2.0%.
  • A net loss in 7 of 10 years on file.