Shares of Niu Technologies (NASDAQ: NIU) soared 5.98% in pre-market trading on Tuesday following the release of its impressive fourth-quarter 2024 financial results and optimistic guidance for 2025. The Chinese electric scooter maker reported significant growth in sales volume and revenue, coupled with ambitious expansion plans for both domestic and international markets.

For the fourth quarter of 2024, Niu Technologies achieved a total sales volume of 226,600 units, marking a substantial 65% year-over-year increase. The company's total revenue for the quarter reached RMB819 million ($127 million), reflecting a 71% rise compared to the same period last year. The strong performance was driven by a 65% growth in China sales volume and a 64% increase in overseas markets. For the full year 2024, Niu reported total revenue of RMB3.29 billion ($511 million), up 24% from 2023, with total sales volume reaching 924,000 units, a 30% year-over-year increase.

Looking ahead, Niu Technologies provided an optimistic outlook for 2025, projecting sales volume to be in the range of 1.3 million to 1.6 million units. The company plans to open 1,000 to 1,500 new stores in China, focusing on Tier 3 cities, and aims to double its overseas dealer network to over 240 by the first half of 2025. With strategic initiatives in place to address profitability challenges in the micro-mobility market and continued product innovation, Niu Technologies expects to achieve overall profitability in 2025, with the potential for quarterly profits as early as the second quarter.