Niu Technologies, a Chinese start-up company specializing in electric scooters, submitted the first Nasdaq public offering to raise up to $ 150 million. In that form Niu said that according to China Insights Consultancy data it was "the biggest company in lithium-ion batteries powered by electric scooters" and was also the market leader in Europe based on sales volume .
Established in 2014, headquartered in Beijing, Niu claims to maintain 26% market share in China based on sales volume. Niu's debut is the latest in a recent series of Chinese technical work, the most important of which is Hong Kong's announcement on recent Xiaomi and Meituan.
Niu's scooter connects to applications that provide maintenance and performance data to the driver and also provides firmware updates. In late June announced that it sold more than 431,500 smart electric scooters in China, Europe and other markets.
According to CIC data, China is the largest motorcycle market. Retail sales are projected to increase from $ 8 billion in 2017 to $ 13 million in 2022. The growth market is Southeast Asia and India. Scooters are a common means of transport.
Mr. Niu announced that its net sales in 2017 was 116.616 million RMB (116.2 million US dollars), an increase of 116.8% from 354.8 million yuan in 2016. The net loss reached 184.7 million yuan ($ 27.9 million) in 2017. Recently, the net business value for the first six months of 2018 was 55.71 million yuan, an increase of 95.4% from 285.110 million yuan in the same period last year. The net loss for this period was RMB 96.6 million in the previous year, compared to 314.9 million RMB (47.6 million US dollars).
Hope you like the news:
Chinese electric scooter startup Niu file (equivalent to $ 150 million)
#Stay Tuned For More Updates :)The Compsmag is a participant in the Amazon Services LLC Associates Program, which is an affiliate advertising program designed to offer sites a means to earn advertising costs by advertising and linking to Amazon.com.