2023-01-06 | NDAQ:NIU | Press Release

BEIJING, Jan. 06, 2023 (Globe NEWSWIRE) — Niu Technologies (“NIU&CloseCurlyDoubleQuote, or “the Firm&CloseCurlyDoubleQuote) (NASDAQ: NIU), the environment&CloseCurlyQuotes primary service provider of wise urban mobility remedies, these days supplies its profits quantity benefits for the fourth quarter 2022.

4Q 2022 4Q 2021 FY2022 FY2021
China Marketplace 118,065 205,239 710,540 988,023
International Markets 20,214 32,949 121,053 49,891
Total 138,279 238,188 831,593 1,037,914

In the fourth quarter of 2022, NIU marketed 138,279 units, including e-bikes, e-mopeds, e-bicycles and kick-scooters, symbolizing a 41.9% year-around-yr decrease. The number of units bought in China industry and international marketplaces ended up 118,065 and 20,214, symbolizing a 42.5% and 38.7% year-over-12 months reduce, respectively. If not specified, the quantity is when compared on a 12 months-above-year foundation as an alternative of on a quarter-above-quarter basis thanks to powerful seasonality in the e-scooter sector.

In China current market, we expert even far more difficulties from Covid progress and connected coverage modifications throughout the quarter. Beginning from early Oct, strict manage actions led to a sharp retail traffic drop in our major marketplaces, which includes Guangzhou, Beijing and other leading-tier towns. Getting into into December, Omicron outbreaks across the nation severely disrupted production, logistics and offline retailer operations. In gentle of the risky natural environment, we have been dedicated to the method of focusing on high quality marketplaces since the middle of 2022. As a outcome, Niu and Gova quality sequence contributed 95% of the total domestic revenue volume in the fourth quarter. At the conclude of December 2022, we also commenced the shipping of our most high-stop electric powered bicycle SQi, while vast majority of pre-sale orders will be shipped in the 1st quarter of 2023. Searching ahead into 2023, we expect our operation in China market place will return on keep track of when the over-talked about external negative influence has been steadily diminished.

In international markets, complete profits quantity was 20,214 models, including close to 17,000 units of kick-scooter. Kick-scooters’ gross sales quantity was considerably less than anticipated since our significant strategic husband or wife in Europe underwent organization restructuring, creating temporary delay in our revenue and channel expansions. Changeover to new distributors is effectively on class and we count on kick-scooters&CloseCurlyQuote profits will resume the rapidly expansion as revealed in the initially three quarters of 2022.

For the complete calendar year 2022, the Enterprise offered 831,593 units. The range of models offered in China sector and global markets were being 710,540 and 121,053, respectively.

Our profits volume rely disclosed above is primarily based on the shipping from our manufacturing facility, which may differ marginally from the revenue quantity measured from a financial accounting and reporting place of perspective. NIU&CloseCurlyQuotes revenue volume represents only a single evaluate of the organization&CloseCurlyQuotes financial performance and should really not be relied upon as an indicator of quarterly economic success, which rely on a range of components, which includes revenues from equipment, spare elements and expert services, price tag of gross sales, running expenses, etc.

About NIU

As the globe&CloseCurlyQuotes primary service provider of smart urban mobility methods, NIU layouts, manufactures and sells superior-general performance electric bikes, mopeds, bicycles and kick-scooters. NIU has a diversified product or service portfolio that caters to the various calls for of our end users and addresses unique city journey scenarios. NIU&CloseCurlyQuotes product or service portfolio comprises its (i) four electric scooter and motorbike collection, NQi, MQi, UQi and Gova, (ii) one kick-scooter sequence, KQi, (iii) just one higher overall performance bike series, RQi, (iv) one hybrid bike collection, YQi and (v) 1 e-bicycle sequence, BQi. NIU has adopted an omnichannel retail product, integrating the offline and on line channels, to supply the merchandise and companies. For extra info, remember to pay a visit to www.niu.com.

Safe Harbor Assertion

This push launch incorporates statements that might represent forward-looking statements produced less than the “safe harbor&CloseCurlyDoubleQuote provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These ahead-seeking statements can be determined by terminology this sort of as “will,&CloseCurlyDoubleQuote “expects,&CloseCurlyDoubleQuote “anticipates,&CloseCurlyDoubleQuote “aims,&CloseCurlyDoubleQuote “future,&CloseCurlyDoubleQuote “intends,&CloseCurlyDoubleQuote “plans,&CloseCurlyDoubleQuote “believes,&CloseCurlyDoubleQuote “estimates,&CloseCurlyDoubleQuote “likely to&CloseCurlyDoubleQuote and equivalent statements. Amid other things, the small business outlook and quotations from management in this announcement, as well as NIU&CloseCurlyQuotes strategic and operational plans, consist of forward-wanting statements. NIU may perhaps also make penned or oral forward-looking statements in its periodic reports to the U.S. Securities and Trade Commission, in its once-a-year report to shareholders, in press releases and other published elements and in oral statements designed by its officers, directors or staff members to 3rd events. Statements that are not historical details, together with statements about NIU&CloseCurlyQuotes beliefs, designs and anticipations, are forward-looking statements. Ahead-seeking statements include inherent dangers and uncertainties. A number of components could induce actual outcomes to differ materially from those contained in any ahead-looking statement, including but not limited to the pursuing: NIU&CloseCurlyQuotes strategies NIU&CloseCurlyQuotes foreseeable future company improvement, fiscal ailment and outcomes of operations NIU&CloseCurlyQuotes ability to sustain and boost its “NIU&CloseCurlyDoubleQuote manufacturer its ability to innovate and properly launch new items and services its means to preserve and extend its offline distribution network its skill to satisfy the mandated safety benchmarks relating to e-scooters its capacity to protected provide of elements and uncooked elements used in e-scooters its means to manufacture, launch and promote sensible e-scooters assembly customer expectations its skill to increase collaboration with procedure associates its capability to regulate expenditures involved with its operations basic economic and small business disorders in China and globally and assumptions fundamental or similar to any of the foregoing. Additional details pertaining to these and other risks is involved in NIU&CloseCurlyQuotes filings with the Securities and Exchange Fee. All details offered in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any ahead-wanting statement, except as demanded underneath applicable regulation.

Investor Relations Make contact with:

Niu Technologies

E-mail: [email protected]