-- Modest Price Increase in China on Certain Existing Models--
-- Pricing Reflects Growing Value of Premium Lifestyle Experience--
BEIJING, April 11, 2019 (GLOBE NEWSWIRE) -- Niu Technologies (“Niu”, or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced an increase in the retail price for certain models in its N, M and U series sold in China. The increase will range from RMB 100 to 500, or approximately 1% to 5% per scooter. The price increase will be effective on April 11, 2019.
Niu Technologies’ CFO Hardy Zhang commented, “Price increases are a fact of life, but we work very hard to provide a more engaging and valuable riding experience for our customers. Models being sold now integrate our latest technology, offering better battery performance, better ride performance, advanced rider experience features, and more optimized maintenance regime. We believe our pricing represents an outstanding value for our customers, who are interested in reflecting a premium lifestyle in their daily transportation experience.”
About NIU
As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance smart e-scooters. NIU has a streamlined product portfolio consisting of three series, N, M and U that address the needs of different segments of the modern urban resident, while being united through a common design language that emphasizes style, freedom and technology. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services. For more information, please visit www.niu.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, the business outlook and quotations from management 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 U.S. 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 to 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: NIU’s strategies; 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 satisfy the mandated safety standards relating to e-scooters; its ability to secure supply of components and raw materials used in e-scooters; its ability to manufacture, launch and sell smart e-scooters meeting customer expectations; its ability to grow collaboration with operation partners; its ability to control costs associated with its operations; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIU’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contacts:
NIU
Investor Relations Manager
Jason Yang
E-mail: ir@niu.com
The Blueshirt Group
Gary Dvorchak, CFA
E-mail: gary@blueshirtgroup.com
Susie Wang
E-mail: susie@blueshirtgroup.com