Chinese electric scooter startup Niu files for $150M U.S. public offering

Chinese electric bike startup Niu Technologies has petitioned for a first sale of stock on Nasdaq to raise up to $150 million. In its frame, Niu said it is "the biggest lithium-particle battery-controlled e-bikes organization in China," as indicated by information from China Insights Consultancy, and furthermore a market pioneer in Europe in light of offers volume.

Established in 2014 and situated in Beijing, Niu says it as of now holds a piece of the overall industry of 26% in China in view of offers volume. Niu's introduction will the most recent in a string of ongoing Chinese tech IPOs, the most conspicuous of which incorporate the ongoing Hong Kong postings of Xiaomi and Meituan.

Niu's bikes associate with an application that give drivers upkeep and execution information and furthermore conveys firmware refreshes. As of the finish of June, Niu claims it had sold in excess of 431,500 shrewd electric bikes in China, Europe and different markets.

As indicated by the CIC's information, China is the biggest market for electric two-wheeled vehicles, with retail deals anticipated that would increment to $13 million by 2022, up from $8 billion of every 2017. Niu says its development showcases additionally incorporate Southeast Asia and India, where bikes are a well known type of transportation.

In its recording, Niu said its net income in 2017 was RMB 769.4 million ($116.2 million), an expansion of 116.8% from RMB 354.8 million out of 2016. Its net misfortunes amid that time diminished to RMB 184.7 million ($27.9 million) in 2017 from RMB 232.7 million of every 2016. All the more as of late, net income for the initial a half year of 2018 was RMB 557.1 million ($84.2 million), an expansion of 95.4% from RMB 285.1 million a similar period a year sooner. Net misfortune was RMB 314.9 million ($47.6 million) amid that period, contrasted with RMB 96.6 million the prior year.