reporter Xu Shiqi

On October 11, the two wheeled electric vehicle brand maverick electric (NASDAQ: NIU) released the third quarter sales data.

According to the announcement data, the maverick electric sold 397079 vehicles in the third quarter, a year-on-year increase of 58.3%. Among them, the sales volume of electric vehicles in the domestic market was 392112, a year-on-year increase of 59.9%; The sales volume in overseas market was 4967, a year-on-year decrease of 11.2%. The company has sold 799700 electric vehicles in the third quarter since the beginning of the year.

At the press conference earlier this year, Robin Li, CEO of maverick electric, said that the performance target in 2021 is 900000-110000 units. According to this momentum, the company may impact the sales of one million units by the end of this year.

The announcement said that the growth of the domestic market was mainly driven by the expansion of retail network and marketing activities. In the third quarter of 2021, maverick electric added 320 stores in China. By the end of September, the number of stores in China had reached 2686. In the third quarter, some models offered promotional discounts to attract new users and encourage the replacement of old models and unqualified electric vehicles.

Mavericks electric laid out markets in Europe, the United States, Southeast Asia and South Asia. It was announced that the reason for the decrease in sales in overseas markets in the third quarter was the re outbreak of the epidemic in Europe and the impact of the shortage of maritime transport capacity. The company also said that for the new scooter kqi3 launched by overseas consumers, the company has received more than 15000 orders in the third quarter and began delivery in September, of which 497 are included in Q3 overseas market sales, and the rest orders will be delivered one after another.

The announcement shows that among the total sales, the sales of G0, F0 and C0 models accounted for about 40.6% in the third quarter. The selling price and gross profit margin of G0, F0 and C0 models were lower than those of other models. The high sales volume of these models had a negative impact on the single vehicle revenue and overall gross profit margin in the third quarter.

The two wheeled electric vehicle market has ushered in a wave of car change due to the implementation of the \

However, the company's share price this year is not good-looking. After soaring to the highest $53.38/share at the beginning of the year, its share price fell to about $24. As of today, the company reported $24.29/share, down 1.74%, with a total market value of $1.886 billion.

On September 22, maverick electric also announced the resignation of former CFO Zhang Peng, and the company began to look for a new CFO.



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