Niu Technologies (NASDAQ:NIU) reported its unaudited financial results for the fourth quarter and full year 2025 on March 16, 2026, revealing a year of starkly different halves.
While the Beijing-based urban mobility leader saw its full-year revenue rise 31% to RMB 4,307.9 million, it struggled through a difficult final quarter as cooling consumer demand in its primary Chinese market pressured the top line.
For the fourth quarter, revenue fell 17.4% year-over-year to RMB 676.2 million.
The decline was driven primarily by a 23.8% drop in e-scooter units sold, which totaled 172,763 for the period.
The company recorded a net loss of RMB 88.1 million for the quarter, reflecting higher promotional expenses and shifts in the product mix toward more cost-competitive segments.
Despite the year-end slowdown, Niu's full-year performance showed a substantial recovery in its fundamental cost structure.
The annual net loss narrowed significantly to RMB 39.4 million, compared to a net loss of RMB 193.2 million in 2024.
The improvement was supported by a strong performance in the first three quarters of the year and successful efforts to optimize the global supply chain.