NIO vs NIU
NIO Inc. and Niu Technologies, side by side — 10 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | NIO | NIU |
|---|---|---|
| Revenue | ¥87.5B | ¥4.3B |
| Net income | ¥-14.9B | ¥-39.4M |
| Gross margin | 13.6% | 19.6% |
| Net margin | −17.1% | −0.9% |
| Return on equity | −295.1% | −4.3% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | ¥-3.1B | ¥175.5M |
| Equity | ¥4.2B | ¥904.9M |
| Net debt / equity | −0.48× | −0.76× |
| Current ratio | 0.98× | 1.18× |
| Revenue CAGR 5y | 40.0% | 12.0% |
| Profit CAGR 5y | — | — |
NIO bills 20.3× the revenue of NIU, 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
10 years side by side
| Fiscal year | NIO | NIU |
|---|---|---|
| FY2025 | ¥87.5B | ¥4.3B |
| FY2024 | ¥65.7B | ¥3.3B |
| FY2023 | ¥55.6B | ¥2.7B |
| FY2022 | ¥49.3B | ¥3.2B |
| FY2021 | ¥36.1B | ¥3.7B |
| FY2020 | ¥16.3B | ¥2.4B |
| FY2019 | ¥7.8B | ¥2.1B |
| FY2018 | ¥5.0B | ¥1.5B |
| FY2017 | ¥0 | ¥769.4M |
| FY2016 | ¥0 | ¥354.8M |
Net income by year
Bottom line
| Fiscal year | NIO | NIU |
|---|---|---|
| FY2025 | ¥-14.9B | ¥-39.4M |
| FY2024 | ¥-22.4B | ¥-193.2M |
| FY2023 | ¥-20.7B | ¥-271.8M |
| FY2022 | ¥-14.4B | ¥-49.5M |
| FY2021 | ¥-4.0B | ¥225.8M |
| FY2020 | ¥-5.3B | ¥168.7M |
| FY2019 | ¥-11.3B | ¥190.1M |
| FY2018 | ¥-9.6B | ¥-349.0M |
| FY2017 | ¥-5.0B | ¥-184.7M |
| FY2016 | ¥-2.6B | ¥-232.7M |
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