Niu Technologies Provides Second Quarter 2023 Sales Volume Update

BEIJING, July 04, 2023 (GLOBE NEWSWIRE) -- Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today provides its sales volume results for the second quarter 2023.

	2Q 2023		2Q 2022		1H 2023		1H 2022
China Market	178,567		180,299		260,085		329,286
International Markets	33,429		28,558		46,318		43,230
Total	211,996		208,857		306,403		372,516

In the second quarter of 2023, NIU sold 211,996 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes. The number of units sold in China market and international markets were 178,567 and 33,429, respectively.

In China market, our new products have generated significant buzz since their launch in May, collectively accounting for over 60% of our total sale volume in the second quarter. Among them, the MQiL model stands out as another flagship premium electric bicycle that effectively addresses users’ mileage anxiety by offering a maximum riding range of 170km. During the "618 Shopping Festival", the MQiL ranked first in the "Top New Electric Bicycles" chart on JD.com, contributing one-third of the total sales volume for the quarter. For our mid-end product lines, we adopted an innovative approach that utilizes the same platform to build G400(light e-motorcycle) and G400T(electric bicycle), offering more flexible choices to our customers while optimizing production efficiency for the company.

Our sales in the international markets achieved significant growth in the second quarter, with the micro-mobility sector recording a total sales volume of more than 30,000 units, representing an impressive 48.3% year-over-year increase. Our remarkable sales growth was complemented by our key kick-scooter products receiving prestigious international awards. Specifically, our KQi2 and KQi Youth+ models won the iF Design Award 2023, while the KQi3 Pro was selected as the Gold Winner 2023 of the New York Product Design Award in "Vehicle Technologies" category. We believe that these accolades not only underscore the exceptional quality and innovation of our products, but will undoubtedly continue to boost our sales in the future.