BEIJING (dpa-AFX) - Niu Technologies (NIU) reported Loss for first quarter of -RMB38.844 million
The company's earnings totaled -RMB38.844 million, or -RMB0.24 per share. This compares with -RMB54.797 million, or -RMB0.35 per share, last year.
The company's revenue for the period rose 35.1% to RMB681.988 million from RMB504.734 million last year.
Niu Technologies earnings at a glance (GAAP) :
-Earnings: -RMB38.844 Mln. vs. -RMB54.797 Mln. last year. -EPS: -RMB0.24 vs. -RMB0.35 last year. -Revenue: RMB681.988 Mln vs. RMB504.734 Mln last year.
For the first quarter, Niu Technologies reported a net loss of RMB 0.49 per ADS, compared with a loss of RMB 0.69 per ADS registered for the same period last year.
Excluding items, the first-quarter loss was RMB 31.354 million as against a loss of RMB 48.486 million in the previous year.
Looking ahead, for the second quarter, the company expects revenue of RMB 1.317 billion to RMB 1.411 billion, representing a year-over-year increase of 40 to 50%.
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