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20-F

Annual Report (Foreign)

Niu Technologies NIU

0001104659-26-044568

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Filed
Apr 17, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 159.71M sh
Shares Diluted FY 2025 · Dec 31, 2024 158.46M sh
Shares Diluted FY 2025 · Dec 31, 2023 156.82M sh
Capex FY 2025 · Dec 31, 2025 $25.43M
Capex FY 2025 · Dec 31, 2025 ¥177.81M
Capex FY 2025 · Dec 31, 2024 ¥119.75M
Capex FY 2025 · Dec 31, 2023 ¥78.93M
Operating Cash Flow FY 2025 · Dec 31, 2025 $50.52M
Operating Cash Flow FY 2025 · Dec 31, 2025 ¥353.27M
Operating Cash Flow FY 2025 · Dec 31, 2024 ¥52.29M
Operating Cash Flow FY 2025 · Dec 31, 2023 ¥93.74M
Short Term Debt FY 2025 · Dec 31, 2025 ¥240M
Short Term Debt FY 2025 · Dec 31, 2024 ¥200M
Short Term Investments FY 2025 · Dec 31, 2025 $8.96M
Short Term Investments FY 2025 · Dec 31, 2025 ¥62.66M
Cash And Equivalents FY 2025 · Dec 31, 2025 $132.24M
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥924.74M
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥630.02M
Stockholders Equity FY 2025 · Dec 31, 2025 $129.4M
Stockholders Equity FY 2025 · Dec 31, 2025 ¥904.93M
Stockholders Equity FY 2025 · Dec 31, 2024 ¥931.28M
Stockholders Equity FY 2025 · Dec 31, 2023 ¥1.09B
Current Liabilities FY 2025 · Dec 31, 2025 $286.44M
Current Liabilities FY 2025 · Dec 31, 2025 ¥2B
Current Liabilities FY 2025 · Dec 31, 2024 ¥1.65B
Total Liabilities FY 2025 · Dec 31, 2025 $292.49M
Total Liabilities FY 2025 · Dec 31, 2025 ¥2.05B
Total Liabilities FY 2025 · Dec 31, 2024 ¥1.68B
Current Assets FY 2025 · Dec 31, 2025 $337.47M
Current Assets FY 2025 · Dec 31, 2025 ¥2.36B
Current Assets FY 2025 · Dec 31, 2024 ¥2.17B
Total Assets FY 2025 · Dec 31, 2025 $421.89M
Total Assets FY 2025 · Dec 31, 2025 ¥2.95B
Total Assets FY 2025 · Dec 31, 2024 ¥2.61B
Eps Diluted FY 2025 · Dec 31, 2025 −$0.04
Eps Diluted FY 2025 · Dec 31, 2025 −¥0.25
Eps Diluted FY 2025 · Dec 31, 2024 −¥1.22
Eps Diluted FY 2025 · Dec 31, 2023 −¥1.73
Eps Basic FY 2025 · Dec 31, 2025 −$0.04
Eps Basic FY 2025 · Dec 31, 2025 −¥0.25
Eps Basic FY 2025 · Dec 31, 2024 −¥1.22
Eps Basic FY 2025 · Dec 31, 2023 −¥1.73
Sga Expense FY 2025 · Dec 31, 2025 $13.01M
Sga Expense FY 2025 · Dec 31, 2025 ¥90.96M
Sga Expense FY 2025 · Dec 31, 2024 ¥130.62M
Sga Expense FY 2025 · Dec 31, 2023 ¥244.52M
Rd Expense FY 2025 · Dec 31, 2025 $23.8M
Rd Expense FY 2025 · Dec 31, 2025 ¥166.45M
Rd Expense FY 2025 · Dec 31, 2024 ¥130.11M
Rd Expense FY 2025 · Dec 31, 2023 ¥150.99M
Net Income FY 2025 · Dec 31, 2025 −$5.63M
Net Income FY 2025 · Dec 31, 2025 −¥39.39M
Net Income FY 2025 · Dec 31, 2024 −¥193.2M
Net Income FY 2025 · Dec 31, 2023 −¥271.84M
Operating Income FY 2025 · Dec 31, 2025 −$12.62M
Operating Income FY 2025 · Dec 31, 2025 −¥88.25M
Operating Income FY 2025 · Dec 31, 2024 −¥250.63M
Operating Income FY 2025 · Dec 31, 2023 −¥317.52M
Gross Profit FY 2025 · Dec 31, 2025 $120.63M
Gross Profit FY 2025 · Dec 31, 2025 ¥843.57M
Gross Profit FY 2025 · Dec 31, 2024 ¥498.76M
Gross Profit FY 2025 · Dec 31, 2023 ¥570.75M
Cost Of Revenue FY 2025 · Dec 31, 2025 $495.39M
Cost Of Revenue FY 2025 · Dec 31, 2025 ¥3.46B
Cost Of Revenue FY 2025 · Dec 31, 2024 ¥2.79B
Cost Of Revenue FY 2025 · Dec 31, 2023 ¥2.08B
Revenue FY 2025 · Dec 31, 2025 $616.02M
Revenue FY 2025 · Dec 31, 2025 ¥4.31B
Revenue FY 2025 · Dec 31, 2024 ¥3.29B
Revenue FY 2025 · Dec 31, 2023 ¥2.65B