---
title: "BRIEF: Niu Technology’s loss widens on growing expenses"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/286932120.md"
description: "電動兩輪車製造商 Niu Technologies 週一報告稱，第一季度收入同比增長 33.4%，達到 9.095 億人民幣（1.34 億美元），但淨虧損從去年同期的 3884 萬人民幣擴大至 9392 萬人民幣。該公司總銷售量同比增長 28.7%，達到 261,624 輛。中國市場銷售增長 35.4%，國際銷售下降 32.4%。中國市場收入增長 41.6%，但海外收入下降 15.2%。毛利率從去年同期的 18.9% 降至 17.3%。"
datetime: "2026-05-19T14:35:46.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286932120.md)
  - [en](https://longbridge.com/en/news/286932120.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286932120.md)
---

# BRIEF: Niu Technology’s loss widens on growing expenses

Electric two-wheeler maker **Niu Technologies** (NIU.US) **reported** on Monday that its revenue rose 33.4% year-on-year to 909.5 million yuan ($134 million) in the first quarter, while its net loss more than doubled to 93.92 million yuan from 38.84 million yuan a year earlier.

The company’s total sales volume increased 28.7% year-on-year to 261,624 units during the quarter. Its China sales rose 35.4% to 247,938 units, while international sales fell 32.4% to 13,686 units. Revenue from the China market climbed 41.6% to 773.6 million yuan, but overseas revenue declined 15.2% to 50.9 million yuan.

The company’s gross margin fell to 17.3% in the latest quarter from 18.9% a year earlier, mainly due to changes in product mix, increased promotional activities, and weaker overseas revenue. Meanwhile, Niu’s operating expenses rose 59.7% to 263.6 million yuan, with selling and marketing expenses up 56.8% and R&D expenses rising 38.8%, contributing to the wider net loss.

The company said it expects its revenue to range between 1.57 billion yuan and 1.82 billion yuan in the second quarter, up approximately 25% to 45% year-on-year.

Niu Technologies’ stock fell 15% on Monday in New York to close at $2.415. The stock is down 23.6% year-to-date.

_By Lee Shih Ta_

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