周四盘中，智能电动两轮车制造商小牛电动（NIU）股价大跌10.36%，延续了近期的下跌趋势。这一跌幅反映了投资者对公司持续面临的诸多挑战的担忧。
根据最新财报，小牛电动已连续三年处于亏损状态。虽然2024年公司营收有所回升，达到32.88亿元，同比增长24%，但仍未能扭亏为盈。更令人担忧的是，公司的市场份额正在被竞争对手蚕食。曾经的"电驴界爱马仕"如今在销量上已被九号公司超越，2023年第三季度九号电动实现销量61万台，而同期小牛国内销量仅为23万辆。
分析人士指出，小牛电动目前正处于关键的转折点。面对传统品牌如雅迪、爱玛的智能化升级，以及新兴对手如九号公司的强劲增长，小牛电动的竞争优势正在逐渐消失。为了提振销量，公司不得不采取降价策略，导致毛利率从20%以上降至2024年第三季度的13.8%。如果无法扭转当前的不利局面，小牛电动可能会面临更严峻的市场挑战，这也解释了为何投资者对公司前景持谨慎态度，导致股价持续承压。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.