# Niu Technologies: Form 20-F for the period ended Dec 31, 2025

- Company: [Niu Technologies](/companies/niu.md) (CIK 1744781)
- Form: 20-F
- Filed: 2026-04-17
- Accepted by EDGAR: Apr 17, 2026, 10:12 ET
- Period: 2025-12-31
- Accession: 0001104659-26-044568
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1744781/000110465926044568/niu-20251231x20f.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1744781/000110465926044568/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | $616.0m | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 12 months, 2025-01-01 to 2025-12-31 | $495.4m | us-gaap:CostOfRevenue |
| Gross profit | 12 months, 2025-01-01 to 2025-12-31 | $120.6m | us-gaap:GrossProfit |
| Research and development | 12 months, 2025-01-01 to 2025-12-31 | $23.8m | us-gaap:ResearchAndDevelopmentExpense |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | −$12.6m | us-gaap:OperatingIncomeLoss |
| Interest expense | 12 months, 2025-01-01 to 2025-12-31 | $876.6k | us-gaap:InterestExpenseNonoperating |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | −$3.3m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | −$5.6m | us-gaap:NetIncomeLoss |
| Diluted EPS | 12 months, 2025-01-01 to 2025-12-31 | −$0.04 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 12 months, 2025-01-01 to 2025-12-31 | −$0.04 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 159,714,698 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | $50.5m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | $25.4m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Cash and equivalents | at 2025-12-31 | $132.2m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $337.5m | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $421.9m | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $286.4m | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $292.5m | us-gaap:Liabilities |
| Short-term borrowings | at 2025-12-31 | CNY 240.0m | us-gaap:ShortTermBorrowings |
| Shareholders' equity | at 2025-12-31 | $129.4m | us-gaap:StockholdersEquity |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1744781/000110465926044568/niu-20251231x20f.htm

Filed Apr 17, 2026.
Source: SEC EDGAR, the filing index for accession 0001104659-26-044568. Last ingested by Listed: Oct 24, 2026, 15:07 ET. No prices; not investment advice.