NIU TECHNOLOGIES 3Q 2020
2014 | 7 | 1200+ | 40+ | 1.5mn | 6.4bn km |
Founded | Series | Dedicated Store | Countries | Scooters Sold | Riding Data |
Data as of September 30, 2020. | 2 |
Existing Product Portfolio
Upcoming New Products
Sales Network and Omnichannel Retail Model
Offline
Integration
Online
Domestic | International | 3rd Party Platform | NIU Store | |||
252 | 36 |
City Partners | Distributors |
1266 | 46 |
Dedicated Stores | Countries |
182 | Europe |
Cities | as the Key Market |
Data as of September 30, 2020. | 5 |
Global R&D and Manufacturing Facility in Changzhou
Current Capacity
(units)
Total
1,080,000
700,000
Total 380,000
380,000
20182019
6
Financial Highlights
2020 Q3 E-scooter Sales Volume (units) and Y-o-Y Growth (%)
Total Sales Volume (thousands) | China Sales Volume (thousands) | Overseas Sales Volume (thousands) |
Q3 +68% | YTD +43% | Q3 +70% | YTD +50% | Q3 +6% | YTD -32% | ||||||
451 | 435 | ||||||||||
315 | 291 | ||||||||||
251 | 245 | ||||||||||
149 | 144 | 25 | |||||||||
17 | |||||||||||
6 | 5 | ||||||||||
3Q20 | 3Q19 | YTD20 | YTD19 | 3Q20 | 3Q19 | YTD20 | YTD19 | 3Q20 | 3Q19 | YTD20 | YTD19 |
8
2020 Q3 Revenues per Scooter (ASP) and Y-o-Y Growth (%)
Total ASP (RMB)
China Scooter ASP (RMB) | Overseas Scooter ASP (RMB) |
Scooter | Accessories, spare parts and services | ||
Q2 -19% | YTD -20% | ||
4,888 | |||
4,380 | 641 | ||
3,928 | |||
3,565 | 524 | ||
457 | |||
375 | |||
3,856 | 4,248 | ||
3,190 | 3,471 | ||
3Q20 | 3Q19 | YTD20 | YTD19 |
Q2 -18% | YTD -16% | ||
3,691 | 3,835 | ||
3,020 | 3,212 | ||
3Q20 | 3Q19 | YTD20 | YTD19 |
Q2 +27% | YTD +12% |
10,64710,248
9,131
8,366
3Q20 | 3Q19 | YTD20 YTD19 |
9
2020 Q3 Revenues and Gross Margin
Revenues (RMB millions) (y-o-y growth %)
Q2 +37% | YTD +15% |
1,772 |
1,540
894
654
Gross Margin (as % of revenues)
Q2 -1.3%YTD -0.5%
22.5%
22.2%
22.0%
20.9%
3Q20 | 3Q19 | YTD20 | YTD19 | 3Q20 | 3Q19 | YTD20 | YTD19 |
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2020 Q3 Diversifying Revenues Base
Scooter Revenues Breakdown by Geography | Revenues Breakdown by Product |
China | International | E-scooters | Accessories, Spare Parts and Services | ||||||||||
9.6% | 9.8% | 7.4% | 7.6% | 10.9% | 16.7% | 16.3% | 20.1% | 10.1% | 10.5% | 12.0% | 11.6% | 13.1% | |
28.9% | |||||||||||||
90.4% | 90.2% | 92.6% | 92.4% | 89.1% | 83.3% | 83.7% | 79.9% | 89.9% | 89.5% | 88.0% | 88.4% | 86.9% | |
71.1% | |||||||||||||
4Q19 | 1Q20 | 2Q20 | 3Q20 | 3Q19 | YTD20 | YTD19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 3Q19 | YTD20 | YTD19 |
11
2020 Q3 Operating Expenses and Net Margin
Adj. Operating Expenses(1) | Adjusted Net Margin(2) (as % of revenues) | |
(as % of revenues) | Net Margin (as % of revenues) |
G & A | R & D | S & M | ||||||||||
14.8% | 14.5% | 11.1% | ||||||||||
10.1% | ||||||||||||
12.4% | 3.5% | 3.1% | 10.1% | |||||||||
8.9% | 9.2% | |||||||||||
10.8% | 1.4% | 8.4% | ||||||||||
7.9% | ||||||||||||
3.0% | ||||||||||||
2.6% | 2.4% | 3.8% | ||||||||||
6.2% | ||||||||||||
2.9% | ||||||||||||
8.5% | 7.5% | 8.5% | ||||||||||
5.4% | ||||||||||||
3Q20 | 3Q19 | YTD20 | YTD19 | 3Q20 | 3Q19 | YTD20 | YTD19 | 3Q20 | 3Q19 | YTD20 | YTD19 |
(1) Adj. operating expenses is defined as operating expenses excluding share-based compensation expenses, divided by revenues; | |
(2) Adjusted net margin is defined as net profit/loss excluding share-based compensation expenses, divided by revenues. | 12 |
2017 - 2019: Sales Volume
E-scooter Sales Volume (thousands) (y-o-y growth %)
Quarterly Volume | Yearly Volume |
421
+24%
340
+79%
189
149 | ||||
121 | 99 | 106 | ||
87 | 94 | |||
69 | ||||
53 | 66 |
23 | 45 | 38 |
1Q17 | 2Q17 | 3Q17 | 4Q17 | 1Q18 | 2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 2017 | 2018 | 2019 |
13
2017 - 2019: Revenues per Scooter (ASP)
Revenues per Scooter (RMB) (y-o-y growth %)
Quarterly ASP
5,359 5,339
5,046
4,541 | 4,167 | 4,580 | 4,403 | 4,567 | 4,380 |
4,077 | |||||
3,987 | |||||
3,864 |
Yearly ASP
+13%
+7% 4,928
4,352
4,061
1Q17 | 2Q17 | 3Q17 | 4Q17 | 1Q18 | 2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 2017 | 2018 | 2019 |
14
2017 - 2019: Revenues
Revenues (RMB millions) (y-o-y growth %)
Quarterly Revenues | Yearly Revenues |
2,076
+40%
1,478
+92%
769
654 | |||||||||
493 | 428 | 531 | 536 | ||||||
384 | |||||||||
355 | |||||||||
179 | 265 | 219 | |||||||
173 | |||||||||
106 | |||||||||
1Q17 | 2Q17 | 3Q17 | 4Q17 | 1Q18 | 2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 2017 | 2018 | 2019 |
15
2017 - 2019: Margins
Gross Margin (as % of revenues) | Net Margin (as % of revenues) |
23.4%
9.2%
13.4%
Adjusted Net Margin(1) (as % of revenues)
10.1%
7.1%
-3.3%
-24.0% | -23.6% | -10.3% |
2017 | 2018 | 2019 | 2017 | 2018 | 2019 | 2017 | 2018 | 2019 |
(1) Adjusted net margin is defined as net profit/loss excluding share-based compensation expenses and changes in fair value of a convertible loan, divided by revenue
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NIU Technologies published this content on 23 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2020 08:34:08 UTC
