Slides
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NIUM + ej 2Q 2026 علمة FICK
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COLORS USED: 2 Data as of June 30, 2026 NIU at a glance 2014 Founded 4,570 Stores in China 7mn Scooters Sold Globally 43bn km Riding Data
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COLORS USED: 3 China market: Enriched product matrix based on the existing product series NQi MQi FQi SQi RQi OQi GQi UQi
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COLORS USED: 4 Overseas : Enriched product series, with e-moped and e-motorcycle, kick-scooters and e-bike NQi MQi RQi XQi KQi BQi
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COLORS USED: 5 Competitive edge in smart technologies with user-centric industrial design Our App Portable battery pack Winner of seven major international design awards Our Scooter Our battery 7th
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COLORS USED: 6 Sales Network and Omnichannel Retail Model Offline Online NIU Store3rd Party Platform Integration Data as of June 30, 2026. *We sell kick-scooters and e-bikes on Amazon and Shopify channels in international markets tmall logo的圖片搜尋結果 631 City Partners in China 4,570Stores in China Covered 471 Citys in China Europe/North America as the Overseas key market
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COLORS USED: 7 2mn Total production capacity of 2 million units per year Total 380,000 Current Capacity (units) ~ Data as of June 30, 2026.
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Financial Highlights
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COLORS USED: 9 Gross margin and operating expenses Note: (1) Adj. operating expenses is defined as operating expenses excluding share -based compensation expenses , divided by revenues Adj. Operating expenses(1) (as % of revenues) Gross margin (as % of revenues) Operating expenses (as % of revenues) 17.0% 20.10% 16.00% 2Q2024 2Q2025 2Q2026 12.6% 16.0% 16.5% 3.2% 3.3% 3.5%4.0% 1.3% 3.4%19.8% 20.5% 23.4% 2Q2024 2Q2025 2Q2026 S& M
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COLORS USED: 10 49 31 32 2Q2024 2Q2025 2Q2026 Sales volume and Revenues Total Revenues (RMB millions) China Sales Volume (thousands) Overseas Sales Volume (thousands) 940 1256 1440 2Q2024 2Q2025 2Q2026 YoY -36% YoY +4% YoY +15% YoY +34% 208 319 402 2Q2024 2Q2025 2Q2026 YoY 54% YoY 26%
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COLORS USED: 11 Solid balance sheet with strong cash position RMB(million) 2025/12/31 2026/06/30 Cash, restricted cash, deposits & short-term investment 1,326 1,694 Notes receivable & Accounts receivable, net 37 26 Inventories, net 653 724 PP&E and intangible assets 421 478 Land use rights and other operating lease ROU assets 76 74 Other assets 437 486 Total assets 2,950 3,482 Notes and accounts payable 1,098 1,628 Short-term bank borrowings 240 220 Deferred revenue and customer advances 281 392 Other liabilities 426 523 Total liabilities 2,045 2,763 Total equity 905 718 Total liabilities and equity 2,950 3,482 Note: Please be aware that the table may contain slight rounding differences.
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COLORS USED: 12 Note: (1) Adjusted net margin is defined as net loss/income excluding share -based compensation expenses and change in fair value of a convertible loan, divided by revenues Adj. Net margin(1) (as % of revenues) Net margin (as % of revenues) -2.6% 0.50% -7.10% 2Q2024 2Q2025 2Q2026 Net margin -2.1% 1.10% -6.80% 2Q2024 2Q2025 2Q2026
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Thank You
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Appendix
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COLORS USED: 15 164 209 321 138 94 212 266 137 129 256 312 227 203 350 466 173 832 710 924 1,192 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 2022 2023 2024 2025 2022 - 2025: Sales volume growth E-scooter Sales Volume (thousands) (y-o-y growth %) Quarterly Volume Yearly Volume YoY +29% YoY -15% YoY 30%
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COLORS USED: 16 109 165 80 2023 2024 2025 Total Revenue (RMB millions) China Sales Volume (thousands) Overseas Sales Volume (thousands) 2652 3288 4308 2023 2024 2025 YoY -52% YoY +52% YoY 24% YoY +31% 601 759 1112 2023 2024 2025 YoY +26% YoY +47% Sales Volume Breakdown and Revenue (2023-2025)
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COLORS USED: 17 Note: (1) Adj. operating expenses is defined as operating expenses excluding share -based compensation expenses , divided by revenues Adj. Operating Expenses(1) (as % of revenues) Gross Margin (as % of revenues) Operating Expenses (as % of revenues) 21.5% 15.2% 19.6% 2023 2024 2025 18.7% 14.9% 15.7% 5.7% 4.0% 3.9% 9.2% 4.0% 2.1% 33.6% 22.8% 21.7% 2023 2024 2025 S&M R&D G&A 18.3% 14.7% 15.6% 4.9% 3.7% 3.6% 8.7% 3.7% 1.8% 31.9% 22.1% 21.0% 2023 2024 2025 S&M R&D G&A Gross Margin and Operating Expenses (2023-2025)
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COLORS USED: 18 575 828 1,153 612 417 829 927 479 505 940 1,024 819 682 1,256 1,694 676 3,169 2,652 3,288 4,308 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 2022 2023 2024 2025 2022 - 2025: Revenues Revenues (RMB millions) (y-o-y growth %) Quarterly Revenues Yearly Revenues YoY +24% YoY -16% YoY +31%
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COLORS USED: 19 2022 - 2025: Revenues per scooter (ASP) 4,420 3,910 3,486 3,482 3,908 3,671 3,277 3,615 3,908 3,671 3,277 3,615 3,354 3,587 3,636 3,914 3,810 3,736 3,557 3,614 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 2022 2023 2024 2025 Revenues per scooter (RMB) (y-o-y growth %) Quarterly ASP Yearly ASP YoY -2% YoY -5% YoY +2%
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COLORS USED: 20 21.1% 21.5% 15.2% 19.6% 2022 2023 2024 2025 2022 - 2025: Margins Gross margin (as % of revenues) Note: (1) Adjusted net margin is defined as net profit/loss excluding share -based compensation expenses, divided by revenues. Adj. Net margin(1) (as % of revenues) 0.3% -8.5% -5.1% -0.3% 2022 2023 2024 2025 -1.6% -10.3% -5.9% -0.9% 2022 2023 2024 2025 Net margin (as % of revenues)