EH vs NIU
EHang Holdings Limited and Niu Technologies, side by side — 9 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | EH | NIU |
|---|---|---|
| Revenue | ¥418.0M | ¥4.3B |
| Net income | ¥-276.0M | ¥-39.4M |
| Gross margin | 61.5% | 19.6% |
| Net margin | −66.0% | −0.9% |
| Return on equity | −27.3% | −4.3% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | ¥-327.4M | ¥175.5M |
| Equity | ¥1.1B | ¥904.9M |
| Net debt / equity | −0.16× | −0.76× |
| Current ratio | 2.07× | 1.18× |
| Revenue CAGR 5y | 18.3% | 12.0% |
| Profit CAGR 5y | — | — |
NIU bills 10.3× the revenue of EH, and both closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
9 years side by side
| Fiscal year | EH | NIU |
|---|---|---|
| FY2025 | ¥418.0M | ¥4.3B |
| FY2024 | ¥456.2M | ¥3.3B |
| FY2023 | ¥117.4M | ¥2.7B |
| FY2022 | ¥44.3M | ¥3.2B |
| FY2021 | ¥56.8M | ¥3.7B |
| FY2020 | ¥180.1M | ¥2.4B |
| FY2019 | ¥121.8M | ¥2.1B |
| FY2018 | ¥66.5M | ¥1.5B |
| FY2017 | ¥31.7M | ¥769.4M |
Net income by year
Bottom line
| Fiscal year | EH | NIU |
|---|---|---|
| FY2025 | ¥-276.0M | ¥-39.4M |
| FY2024 | ¥-229.8M | ¥-193.2M |
| FY2023 | ¥-301.7M | ¥-271.8M |
| FY2022 | ¥-328.2M | ¥-49.5M |
| FY2021 | ¥-314.0M | ¥225.8M |
| FY2020 | ¥-87.6M | ¥168.7M |
| FY2019 | ¥-48.5M | ¥190.1M |
| FY2018 | ¥-79.1M | ¥-349.0M |
| FY2017 | ¥-87.4M | ¥-184.7M |
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