Niu grows sales in China, trims quarterly loss

Niu Technologies posted Q1 revenue of RMB 682 million, up 35.1% YoY, driven by a 57.4% surge in e-scooter sales. Net loss narrowed to RMB 38.8 million, though gross margin fell to 17.3%, weighed down by a 14.2% drop in revenue per unit amid lower pricing in China and rising costs overseas.