Niu Technologies Powers Ahead in Electric Motorcycle Segment, Posts Strong Full-Year Growth Despite Q4 Decline
Niu Technologies, a leading player in the electric motorcycle and micro-mobility sector, reported strong full-year growth despite a decline in fourth-quarter deliveries. In a conference call on March 16th, CEO Dr. Yan Li emphasized that the company's strategic transformation had set the stage for accelerated high-quality and profitable growth in 2026.
The company delivered 172,000 units in Q4 2025, representing a 23.8% year-over-year (YoY) decline. This comprised of 158,782 units in China, down 12% YoY, and close to 14,000 units overseas, down 68% YoY.
Dr. Li attributed the China market decline to the transition to new national standards for electric bicycles, which led to a significant inventory front-loading by distributors and retailers in Q3 2025. However, he noted that the second half of 2025 saw a 38% YoY growth in China deliveries, confirming continued growth momentum.
The company's overseas performance was deliberately driven by a strategic realignment of micro-mobility channels, shifting away from traditional distributor-led models to direct-to-retailer partnerships. This structural shift allowed Niu Technologies to capture higher margins and establish closer relationships with customers.
Despite the Q4 decline, Niu Technologies reported strong full-year growth, with total sales volume reaching 1.19 million units, a robust 29% YoY increase. China sales surged 46% to surpass 1.11 million units, while international volume declined 51%. The company's total revenue for the year reached RMB 4.31 billion, up 31% YoY.
The full-year gross margin reached 19.6%, expanding by a massive 4.4 percentage points YoY, reflecting Niu Technologies' premium product mix and operational efficiencies.
Niu Technologies' CEO Dr. Yan Li emphasized that the company's strategic transformation had set the stage for accelerated high-quality and profitable growth in 2026. The company's focus on long-term profitability over short-term volume gains has positioned it well for future success.
As Niu Technologies continues to navigate the complex regulatory landscape and execute its strategy, investors will be watching closely for further signs of progress. With a robust foundation built in 2025, the company is poised to deliver high-quality and profitable growth in 2026 and beyond."
