Niu Technologies (NASDAQ:NIU) Q2 2020 Results Earnings Conference Call August 17, 2020 8:00 AM ET Company Participants Jason Yang - Investor Relations Manager Yan Li - Chairman, Chief Executive Officer and Chief Operating Officer Hardy Peng Zhang - Chief Financial Officer Conference Call Participants Vincent Yu - Needham & Company Bin Wang - Credit Suisse Lei Wang - CICC Alexander Potter - Piper Sandler Xinchi Yin - CITIC Securities Operator Good day, ladies and gentlemen. Thank you for standing by. And wel ...

Financial Data and Key Metrics Changes - Sales volume decreased by 39% year-over-year in Q1 2020, with total revenues down by 34% to RMB 233 million [7][18] - Gross margin maintained at 23.6%, with a net loss margin of 11.3% due to the decline in sales [7][23] - Revenue per scooter increased by 8%, driven by strong sales from accessories, spare parts, and services, which saw a 74% increase year-over-year [19][20] Business Line Data and Key Metrics Changes - Revenue from scooters decreased by 40%, while revenues from accessories, spare parts, and services increased by 5% [18] - Online sales increased significantly, with e-commerce sales up 1.6x in March and 3x in April compared to the same period last year [9][10] Market Data and Key Metrics Changes - China sales volume decreased by 44% due to COVID-19, while overseas sales volume increased by 6% in Q1 before declining sharply in March [17][18] - The company observed a recovery in sales in April, with a 50% increase in volume compared to March [42] Company Strategy and Development Direction - The company is focusing on an omni-channel approach, combining online and offline sales strategies to adapt to changing consumer behavior during the pandemic [8][9] - New product launches, including the MQi2 and G0, are aimed at expanding market presence and addressing consumer demand for personal mobility solutions [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the retail market in China, anticipating continued improvement as restrictions ease [9][10] - The company expects second-quarter revenue to be between RMB 585 million and RMB 655 million, reflecting a year-over-year increase of 10% to 23% [24] Other Important Information - The company ended the quarter with RMB 725 million in cash and short-term investments, indicating a strong cash position [23] - Operating cash flow was negative RMB 24.5 million, primarily due to support provided to distributors and dealers [23] Q&A Session Summary Question: Will the company provide concessions to offline sales channels? - Management indicated that additional rebates were given in Q1, but with recovery in sales volume, no further concessions are expected in Q2 [29] Question: What are the expectations regarding raw material costs? - Management noted a continued decline in procurement costs for raw materials, which is expected to positively impact gross margins [30] Question: What is the outlook for gross margin in the next quarter? - Management suggested that gross margin may decrease by at least 2% in Q2 due to changes in product mix and overseas sales uncertainty [34] Question: What are the expectations for operating expenses in Q2? - Management expects sales and marketing expenses to return to normal levels, while R&D spending will continue as planned [36] Question: How does the omni-channel model work? - Management explained that online orders can be fulfilled without dealer involvement, but dealers are still responsible for after-sales services [38] Question: What is the growth trend in sales volume for the first few months of the year? - Management provided detailed sales volume trends, indicating a significant recovery in the Chinese market and a slower recovery in overseas markets [42] Question: What is the strategy for the GOVA product line? - Management clarified that GOVA is treated as part of the Niu series, with plans for pre-sales and a focus on the mid to high-end market segment [43][45]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019. OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR o SHELL COMPANY REPORT PURSUANT TO S ...

Niu Technologies (NASDAQ:NIU) Q4 2019 Earnings Conference Call March 16, 2020 8:00 AM ET Company Participants Jason Yang - Investor Relations Manager Yan Li - Chief Executive Officer Hardy Zhang - Chief Financial Officer Conference Call Participants Winnie Dong - Piper Sandler Vincent Yu - Needham & Company Bin Wang - Credit Suisse Operator Ladies and gentlemen, thank you for standing by. And welcome to the Niu Technologies Fourth Quarter 2019 Earnings Release Conference Call. At this time, all participants ...

Niu Technologies (NASDAQ:NIU) Q3 2019 Earnings Conference Call November 25, 2019 8:00 AM ET Company Participants Jason Yang - IR Yan Li - CEO Hardy Zhang - CFO Conference Call Participants Bin Wang - Credit Suisse Operator Good day, ladies and gentlemen. Thank you for standing by and welcome to the Niu Technologies Third Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Now, I will turn the call over to Mr. Jason Yang, Investor Relations ...