Niu Technologies Provides Fourth Quarter 2021 Sales Volume Update | News

BEIJING, January 04, 2022 (GLOBE NEWSWIRE) – Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today reports its volume results of sales for the fourth quarter of 2021.

In the fourth quarter of 2021, NIU sold 238,188 units, including electric motorcycles, electric mopeds, electric scooters and e-bikes, representing a 58.3% year-over-year growth. The number of units sold in the Chinese market reached 205,239, representing a 49.2% year-on-year growth. The number of units sold in international markets was 32,949, representing an increase of 155.8% year-on-year. The volume is compared year over year instead of quarter over quarter due to the high seasonality of the electric scooter market.

The growth of the Chinese market has been mainly driven by the expansion of the retail network. The company continued the rapid expansion of its retail network and added 422 new stores in China during the fourth quarter of 2021. There were 3,108 NIU stores in China at the end of 2021. On the total volume of Sales in the fourth quarter of 2021, the entry models (G0, F0 and C0), having lower selling price and gross margin than other models sold in the Chinese market, accounted for only 20.7%.

The robust growth in international markets is mainly due to the strong demand for electric motorcycles and recently launched advanced electric scooters. In the fourth quarter of 2021, the sales volume of electric motorcycles and electric mopeds in international markets reached 17,905, up 39.2% year-on-year. In addition, the Company delivered 14,916 units of scooters to Europe and the United States in the fourth quarter of 2021. The scooters have lower selling prices than other products sold in international markets.

During the year 2021, the Company sold approximately 1,037,914 units, representing a growth of 72.5% year over year. The number of units sold in the Chinese market and international markets reached 988,023 and 49,891 respectively.

The number of our sales disclosed above is based on delivery from our manufacturing facility, which may vary slightly from the sales volume measured from an accounting and financial reporting point of view. NIU sales volume is only a measure of the financial performance of the company and should not be taken as an indicator of quarterly financial results, which depend on various factors including revenue from accessories, spare parts and services, cost of sales, operating expenses, etc.

About NIU

As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high performance motorcycles, scooters, bicycles and electric scooters. NIU has a product portfolio consisting of eight series, four series of electric scooters, including NQi, MQi, UQi and Gova, two series of urban electric motorcycles RQi and TQi, one series of performance electric bikes, NIU Aero, and a series of electric scooters, KQi. Different product series meet the needs of different segments of modern urban residents and solve the demands of different urban travel scenarios, while being united by a common design language that emphasizes style, freedom and technology. NIU has adopted an omnichannel retail model, integrating offline and online channels, to deliver the products and services. For more information, please visit www.niu.com.

Safe Harbor Declaration

This press release contains statements that may constitute forward-looking statements made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will” , “Expects,” “anticipates”, “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “is likely to” and similar statements. Among other things, the business outlook and management quotes in this announcement, as well as NIU’s strategic and operational plans, contain forward-looking statements. NIU may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees for third parties. Statements that are not historical facts, including statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: the strategies of NIU; NIU’s future business development, financial condition and results of operations; NIU’s ability to maintain and enhance its “NIU” brand; its ability to innovate and successfully launch new products and services; its ability to maintain and expand its offline distribution network; its ability to meet mandatory safety standards for electric scooters; its ability to secure the supply of components and raw materials used in electric scooters; its ability to manufacture, launch and sell smart e-scooters that meet customer expectations; its ability to develop collaboration with operational partners; its ability to control the costs associated with its operations; general economic and trade conditions in China and around the world; and the assumptions underlying or related to all of the above. Further information regarding these and other risks is included in documents filed by NIU with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and NIU assumes no obligation to update any forward-looking statement, except as required by applicable law.

For investor and media inquiries, please contact:

Niu Technologies Jason Yang Head of Investor Relations E-mail: [email protected]

Copyright 2022 GlobeNewswire, Inc.


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