Niu Technologies (NASDAQ:NIU) Q4 2019 Earnings Conference Call - Final Transcript
Mar 16, 2020 • 08:00 am ET
Ladies and gentlemen, thank you for standing by, and welcome to the Niu Technologies' Fourth Quarter 2019 Earnings Release Conference Call. [Operator Instructions]. There will be a presentation followed by a question-and-answer session. [Operator Instructions]. I would now like to hand the conference over to your first speaker today, Mr. Jason Yang, Investor Relations Manager. Thank you. Please go ahead.
Thank you, Operator. Hello, everyone. Welcome to today's conference call to discuss Niu Technologies' results for the fourth quarter and full year 2019. The call is being webcast from Company's IR website. An investor presentation and the replay of the call will be available soon at ir.niu.com. 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's 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 a reconciliation of GAAP to non-GAAP financial results. On the call with me today are our CEO, Dr. Yan Li, and the CFO, Mr. Hardy Zhang.
Now, let me turn the call over to Yan.
All right. Thanks, Jason, and thanks everyone for joining us on the call today. So on the performance, our sales volume has increased by 14% in Q4 2019, and by 24% for the full year of 2019. Our revenue has also increased by 25% in Q4 and by 41%, full year 2019. We have also enhanced our gross margin, achieving a historically high gross margin at 26.1% and net profit margin at 11.3% in Q4 2019.
All financial data were beyond our expectations. Now we continue to build our leadership in urban mobility with product and technology development, event and user base activity model [Technical Issues] we launched our U-GT [Phonetic] in late December. U-GT is an upgraded high end version of U Series, targeting primarily Europe and the US market. U-GT inherited its simplistic design style and lightweight body of our award-winning U series with increased wheel size and performance, with the retail price started at a EUR6,999 [Phonetic] in Europe.
Second, we have launched our first straddle electric motorcycle product R, and our first three-wheel electric motorcycle T at the CES in January. Both are revolutionary products to redefine urban mobility. R is our power performance product. It has a top speed of 160 kilometer per hour and the maximum drive range of 130 kilometers. It comes with a maximum 30 kilowatts mid-mounted motor, and a 7-kilowatt/hour portable dual batteries.
R primarily targets Europe and the US market as well as high-end motorcycle market in China. As a high-end straddle