Niu Technologies (NIU) Q4 2020 Earnings Call Transcript

Niu Technologies (NASDAQ: NIU) Q4 2020 earnings call dated Mar. 08, 2021

Corporate Participants:

Jason Yang — Investor Relations Manager

Yan Li — Chief Executive Officer

Hardy Peng Zhang — Chief Financial Officer

Analysts:

Vincent Yu — Needham & Company — Analyst

Alexander Potter — Piper Sandler — Analyst

Jing Chang — CICC — Analyst

Alice Ma — UBS — Analyst

Soojin Lee — CITIC Securities — Analyst

Presentation:

Operator

Good day, ladies and gentlemen. Thank you for standing by and welcome to Niu Technologies Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions] As a reminder, we are recording today’s call. If you have any objections, you may disconnect at this time.

Now, I will turn the call over to Mr. Jason Yang, Investor Relations Manager of Niu Technologies. Mr. Yang, please go ahead.

Jason Yang — Investor Relations Manager

Thank you, operator. Hello, everyone. Welcome to today’s conference call to discuss Niu Technologies results for the fourth quarter 2020. The earnings press release, corporate presentation, and financial spreadsheet have been posted on NIU’s Investor Relations website. This call is being webcast from Company’s IR website and a replay of the call will be available soon.

Please note, today’s discussion will contain forward-looking statements made under the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties, assumptions and other factors. The Company actual results may be materially different from those expressed today. Further information regarding the risk factors is included in the Company’s public filings with the Securities and Exchange Commission. The Company does not assume any obligation to update any forward-looking statements, except as required by law.

Our earnings press release and this call include discussions of certain non-GAAP financial measures. The press release contains a definition of non-GAAP financial measures and the reconciliation of GAAP to non-GAAP financial results.

On the call with me today are our CEO, Dr. Yan Li; and our CFO, Mr. Hardy Zhang.

Now, let me turn the call over to Yan.

Yan Li — Chief Executive Officer

Thanks, Jason, and thanks everyone for joining us on this call today. So, in Q4, we saw a strong growth of domestic China market and a strong signal for the overseas market recovery from the COVID-19. We have had a substantial growth in Q4 with total sales volume reaching 150,000 units, a 41.6% year-over-year increase. The sales volume in the China market reached 137,000, a 35% year-over-year increase, whereas the volume in the international market rose by nearly 3x to more than 12,000 units, a 197.1% year-over-year increase.