Niu Technologies reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was CNY 927.02 million compared to CNY 1,153.23 million a year ago. Net loss was CNY 79.42 million compared to net income of CNY 2.88 million a year ago. Basic loss per share from continuing operations was CNY 1.02 compared to basic earnings per share from continuing operations of CNY 0.04 a year ago. Diluted loss per share from continuing operations was CNY 1.02 compared to diluted earnings per share from continuing operations of CNY 0.04 a year ago.
For the nine months, sales was CNY 2,173.07 million compared to CNY 2,556.33 million a year ago. Net loss was CNY 141.67 million compared to CNY 12.33 million a year ago. Basic loss per share from continuing operations was CNY 1.8 compared to CNY 0.16 a year ago. Diluted loss per share from continuing operations was CNY 1.8 compared to CNY 0.16 a year ago.