FAST NEWS: Chindata Reports 58.5% Revenue Growth in Q3, Reaffirms Full-Year Guidance

The latest: Data center operator Chindata Group Holdings Ltd. (CD.US) said its revenue rose 58.5% in the third quarter to 740.8 million yuan ($116 million), according to its latest quarterly results released on Wednesday. It posted a 78.4 million yuan profit for the period, representing its third consecutive quarterly profit and reversing a 196.8 million yuan loss in the year-ago period. Looking Up: The company reiterated its previous guidance for between 2.78 billion yuan and 2.83 billion yuan in revenue for the full year 2021. The reaffirmation comes as many…

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FAST NEWS: Niu Technologies Sales Zoom in China, Sputters Overseas in Third Quarter

The latest: Niu Technologies (NIU.US) reported that sales of its electric scooters soared 58% in this year’s third quarter, reaching 397,079 units for the three-month period. The vast majority of those sales were in China, which logged 392,112 units sold during the period. Looking Up: Niu said the strong domestic growth was driven by an aggressive expansion that saw it add 320 stores during the quarter in China. Take Note: While domestic sales were strong, the opposite was true for the tiny portion sales that came from exports. The company…

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FAST NEWS: Niu Technologies Q2 Profit Rises 62%

The latest: Electric scooter maker Niu Technologies reported its second-quarter revenue rose 46.5% to 944.7 million yuan ($146 million) year-on-year, while its profit rose 61.6% to 91.8 million yuan, according to its latest quarterly report. Upside: The company expects to post similarly strong revenue growth of 40% to 62% in the third quarter. Downside: Niu Technologies’ revenue per scooter fell 7.3% year-on-year, with the company blaming a “change in product mix.” Digging Deeper: Like many other companies, Niu is bouncing back from a sharp downturn a year earlier during the…

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