Shares Drop 13% as Sales Crash 68% and Inventory Hits RMB650M
Niu Technologies shares fell 13% after e-scooter sales plunged 68% and aged kick scooter inventory reached RMB650 million, over half of stock. It raised retail prices to offset cost hikes from China’s new standards and forecasts 2026 sales of 1.67–1.91 million units with Q1 revenue of RMB887–1,023 million.
1. Shares Plunge 13% on Sales Crash
Shares of Niu Technologies tumbled 13% as global e-scooter sales fell 68%, reflecting weaker demand and market saturation in key regions.
2. Inventory Overhang Exceeds RMB650 Million
Kick scooter inventory reached RMB650 million, with aged models accounting for over half of stock. Management plans to prioritize clearance through discounts rather than importing new models.
3. Cost Hikes and Price Actions
China’s new national scooter standards are driving production costs higher. The company raised retail prices and launched engineering, platform standardization, and parts commoditization initiatives to mitigate margin pressure.
4. 2026 Outlook and Strategic Growth
For 2026, Niu projects sales of 1.67 to 1.91 million units and Q1 revenue of RMB887–1,023 million, targeting strategic expansion in electric motorcycles domestically and profitable direct-to-retailer growth abroad.