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Niu Technologies Provides Fourth Quarter 2020 E-scooter Sales Volume Update Nasdaq:NIU

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Niu Applied sciences Offers Fourth Quarter 2020 E-scooter Gross sales Quantity Replace Nasdaq:NIU

BEIJING, Jan. 07, 2021 (GLOBE NEWSWIRE) — Niu Applied sciences (“NIU”, or “the Firm”) (NASDAQ: NIU), the world’s main supplier of sensible city mobility options, as we speak supplies its e-scooter gross sales quantity outcomes for the fourth quarter 2020.

 This autumn 2020 This autumn 2019 12 months 2020 12 months 2019
China Market137,586 101,918 572,154 392,459
Worldwide Markets12,119 4,335 28,738 28,867
Whole149,705 106,253  600,892 421,326

Within the fourth quarter of 2020, NIU bought 149,705 e-scooters, representing a 40.9% year-over-year development. The variety of e-scooters bought in China market reached 137,586, representing a 35.0% year-over-year development. The variety of e-scooter bought within the worldwide markets reached 12,1191, a rise of 179.6% in contrast with the fourth quarter final 12 months.

The expansion in China market was primarily pushed by retail community growth and new merchandise similar to G0, MQi2 and MQiS, launched earlier this 12 months. The full models of G0 bought throughout the fourth quarter represents roughly 21.5% of whole China market quantity. The full models of MQi2 and MQiS bought throughout the fourth quarter represents roughly 21.2% of whole China market quantity. The G0 mannequin has decrease gross sales worth and gross margin in contrast with the prevailing fashions, and excessive proportion of gross sales quantity from this mannequin has unfavourable impacts on the blended revenues per scooter and general gross margin for the fourth quarter.

The expansion within the worldwide markets was primarily pushed by the demand restoration.

In full 12 months 2020, NIU bought roughly 600,892 e-scooters, representing a 42.6% year-over-year development. The variety of e-scooters bought in China market and worldwide markets reached 572,154 and 28,738, respectively.

Our gross sales quantity rely disclosed above is predicated on the supply from our manufacturing facility, which can range barely from the gross sales quantity measured from monetary accounting and reporting viewpoint. NIU’s gross sales quantity represents just one measure of the corporate’s monetary efficiency and shouldn’t be relied upon as an indicator of quarterly monetary outcomes, which depend upon a wide range of components, together with revenues from equipment, spare components and providers, value of gross sales, working bills, and many others.

About NIU

Because the world’s main supplier of sensible city mobility options, NIU designs, manufactures and sells high-performance electrical bicycles and bikes. NIU has a product portfolio consisting of seven collection, 4 e-scooter collection, together with NQi, MQi and UQi with sensible capabilities and Gova, two city commuter electrical bikes collection RQi and TQi, and a efficiency bicycle collection, NIU Aero. Completely different collection of merchandise deal with the wants of various segments of recent city residents and resolve the calls for of various situations of city journey, whereas being united by a standard design language that emphasizes type, freedom and expertise. NIU has adopted an omnichannel retail mannequin, integrating the offline and on-line channels, to supply the services and products. For extra data, please go to www.niu.com.

Protected Harbor Assertion

This press launch accommodates statements which will represent forward-looking statements made beneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology similar to “will,” “expects,” “anticipates,” “goals,” “future,” “intends,” “plans,” “believes,” “estimates,” “more likely to” and related statements. Amongst different issues, the enterprise outlook and quotations from administration on this announcement, in addition to NIU’s strategic and operational plans, comprise forward-looking statements. NIU may make written or oral forward-looking statements in its periodic experiences to the U.S. Securities and Alternate Fee, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic info, together with statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Numerous components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: NIU’s methods; NIU’s future enterprise growth, monetary situation and outcomes of operations; NIU’s means to keep up and improve its “NIU” model; its means to innovate and efficiently launch new services and products; its means to keep up and develop its offline distribution community; its means to fulfill the mandated security requirements regarding e-scooters; its means to safe provide of elements and uncooked supplies utilized in e-scooters; its means to fabricate, launch and promote sensible e-scooters assembly buyer expectations; its means to develop collaboration with operation companions; its means to regulate prices related to its operations; common financial and enterprise situations in China and globally; and assumptions underlying or associated to any of the foregoing. Additional data concerning these and different dangers is included in NIU’s filings with the Securities and Alternate Fee. All data supplied on this press launch is as of the date of this press launch, and NIU doesn’t undertake any obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.

For investor and media inquiries, please contact:

Niu Applied sciences
Jason Yang
Investor Relations Supervisor
E-mail: ir@niu.com

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Our manufacturing facility delivered whole 12,879 models, out of which 760 models are pending for customized clearance knowledge to find out whether or not these models must be reported as fourth quarter 2020 gross sales or first quarter 2021 gross sales.

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