As a comparison, Niu Technologies used to achieve much higher YoY top line expansion rates of +135.0%, +46.5%, +37.1%, +46.7% for the first, second, third, and fourth quarters of 2021, respectively. NIU is guiding for a +7.5% YoY increase in its revenue from RMB827.6 million in the second quarter of 2022 to RMB890.0 million for Q2 2023 based on the mid-point of its guidance outlined in its Q1 2023 results release. Niu Technologies' Top Line Growth Prospects Therefore, I have chosen to retain a Hold rating for NIU. Considering that NIU's top line growth and net margin are unlikely to revert to pre-COVID levels in the near term, I don't see any visible re-rating catalysts in place for Niu Technologies. My attention turns to NIU's revenue outlook and profitability expectations.
With my earlier initiation article for NIU published on September 27, 2022, I discussed about Niu Technologies' sales recovery and its valuations. I continue to award a Hold rating to Niu Technologies' ( NASDAQ: NIU) stock. Liudmila Chernetska/iStock via Getty Images Elevator Pitch
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