Niu Technologies (NIU)

Niu Technologies Income Statement

Financials in millions CNY. Fiscal year is January - December.

Year	2023	2022	2021	2020	2019
Revenue	2,652	3,169	3,705	2,444	2,076
Revenue Growth (YoY)	-16.31%	-14.47%	51.56%	17.73%	40.50%
Cost of Revenue	2,081	2,499	2,892	1,885	1,590
Gross Profit	570.75	669.68	812.78	559.15	486.55
Selling, General & Admin	740.25	598.87	473.81	305.62	262.49
Research & Development	150.99	176.48	135.22	105.34	67.19
Operating Expenses	891.24	775.35	609.02	410.96	329.68
Operating Income	-320.49	-105.67	203.75	148.19	156.88
Interest Expense / Income	1.42	5.72	6.17	7.38	11.4
Other Expense / Income	-39.89	-40.16	-75.27	-48.93	-52.82
Pretax Income	-282.03	-71.22	272.86	189.74	198.3
Income Tax	-10.19	-21.76	47.04	21.09	8.21
Net Income	-271.84	-49.46	225.82	168.65	190.08
Net Income Growth	-	-	33.90%	-11.28%	-
Shares Outstanding (Basic)	157	155	154	151	149
Shares Outstanding (Diluted)	157	155	160	158	153
Shares Change	1.06%	-3.29%	1.66%	2.99%	132.78%
EPS (Basic)	-3.46	-0.64	2.94	2.24	2.56
EPS (Diluted)	-3.46	-0.64	2.82	2.14	2.48
EPS Growth	-	-	31.78%	-13.71%	-
Free Cash Flow	14.8	-257.21	48.43	314.1	39.68
Free Cash Flow Per Share	0.19	-3.31	0.63	4.16	0.53
Gross Margin	21.52%	21.13%	21.94%	22.88%	23.43%
Operating Margin	-12.09%	-3.33%	5.50%	6.06%	7.56%
Profit Margin	-10.25%	-1.56%	6.10%	6.90%	9.16%
Free Cash Flow Margin	0.56%	-8.12%	1.31%	12.85%	1.91%
Effective Tax Rate	-	-	17.24%	11.11%	4.14%
EBITDA	-124.24	85.73	385.23	247.36	242.12
EBITDA Margin	-4.69%	2.71%	10.40%	10.12%	11.66%
Depreciation & Amortization	156.37	151.24	106.2	50.24	32.43
EBIT	-280.6	-65.5	279.02	197.12	209.7
EBIT Margin	-10.58%	-2.07%	7.53%	8.06%	10.10%

Source: Financials are provided by Nasdaq Data Link and sourced from audited reports submitted to the Securities and Exchange Commission (SEC).