Niu Technologies (NASDAQ:NIU) shares are trading higher premarket on Monday after the company disclosed its sales volume results for the fourth quarter and full year 2024.
In the fourth quarter, the company sold a total of 226,634 units, comprising e-motorcycles, e-mopeds, e-bikes, kick-scooters, and e-bikes.
Of these, 182,333 units were sold in China, while 44,301 units were sold in international markets.
For the full year of 2024, the company sold 924,340 units, with 759,094 units sold in China and 165,246 units sold in international markets.
The company witnessed a 65% year-over-year growth in the quarter, fueled by the successful launch of new models and the fulfillment of third-quarter backlog orders after new battery and electric system safety standards were implemented in late October.
The newly launched models, designed to appeal to diverse consumer segments, made up over 70% of the quarterly sales.
Niu’s micro-mobility segment performed well, with a 65% year-over-year growth in the fourth quarter and a 57% increase for the full year.
Last week, Niu Technologies launched its nationwide direct-to-consumer (D2C) sales platform for its off-road and on-road dirt bikes, the XQi3 Wild and XQi3 Street.
Price Action: NIU shares are up 6.21% at $1.88 premarket at the last check Monday.
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This article Niu Technologies Zooms Ahead: Q4 Sales Volume Soar 65% As New Models Electrify The Market originally appeared on Benzinga.com
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