U.S. Stock Research Agency news, Zhitong Financial APP learned that on January 4, Niu Electric (NIU. US) announced its sales report for the fourth quarter of 2021.
Sales in the fourth quarter of 2021 were 238188 units, including electric motorcycles, electric mopeds, electric scooters and electric bicycles, up 58.3% year-on-year. Among them, sales in the Chinese market reached 205239 units, an increase of 49.2% year-on-year. Sales in the international market were 32,949 units, up 155.8% year-on-year.
The growth in the Chinese market was mainly driven by the expansion of the retail network. The company continues to rapidly expand its retail network, adding 422 new stores in China in the fourth quarter of 2021. At the end of 2021, Mavericks had 3108 stores in China.
The growth of the international market is mainly driven by strong demand for new electric motorcycles and electric scooters. In the fourth quarter of 2021, the sales volume of electric motorcycles and electric mopeds in the international market was 17,905 units, an increase of 39.2% year-on-year. In addition, the company delivered 14,916 scooters to Europe and the United States in the fourth quarter of 2021.
Total sales for the full year 2021 were 1,037,914 units, up 72.5% year-on-year. Sales in the Chinese market and the international market reached 988023 and 49,891 units, respectively.
As of press time, Maverick Electric is up 0.57% after hours at $15.89.
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