Niu Electric's revenue increased by 21% in the first quarter of 2024, and its net loss narrowed

Niu Electric's revenue in the first quarter of 2024 was 504.7 million yuan, a year-on-year increase of 21%; its net loss was 54.8 million yuan, while its net loss in the same period of 2023 was 60.3 million yuan. If not calculated in accordance with US generally accepted accounting principles, the adjusted net loss was 48.5 million yuan, while the net loss in the same period of 2023 was 46.1 million yuan.