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☑niu A NIU WAY FORWARD Exhibit 99.1 -- Niu Technologies Announces Third Quarter 2021 Financial Results -- Third Quarter Total Volume of e - scooter sales up 58.3 % year over year - Third Quarter Revenues of RMB 1,226.4 million , up 37.1 % year over year -- Third Quarter Net Income of RMB 91.7 million , compared with RMB 80.0 million in the same period of last year BEIJING , China , November 22 , 2021 - Niu Technologies ( “ NIU ” , or “ the Company " ) ( NASDAQ : NIU ) , the world's leading provider of smart urban mobility solutions , today announced its financial results for the third quarter 2021 . Third Quarter 2021 Financial Highlights Revenues were RMB 1,226.4 million , an increase of 37.1 % year over year Gross margin was 20.0 % , compared with 20.9 % in the third quarter of last year Net income was RMB 91.7 million , an increase of 14.6 % compared with RMB 80.0 million in the third quarter of last year Adjusted net income ( non - GAAP ) ¹ was RMB 102.2 million , an increase of 12.9 % compared with RMB 90.6 million in the third quarter of last year Third Quarter 2021 Operating Highlights The number of e - scooters sold reached 397,079 , up 58.3 % year over year The number of e - scooters sold in China reached 392,112 , up 59.9 % year over year The number of e - scooters sold in the international markets was 4,967 , down 11.2 % year over year The number of franchised stores in China was 2,686 as of September 30 , 2021 , an increase of 320 from June 30 , 2021 International sales network expanded to 41 distributors covering 49 countries Dr. Yan Li , Chief Executive Officer of the Company , commented : " We delivered a strong quarter with China sales volume up by 59.9 % amid weaker economic conditions . Our expansion strategy in product offerings and retail coverage combined with targeted marketing and promotional activities continued to be effective in driving sales volume growth and increasing our market share . Our cost optimization initiatives have shown positive results since September and we expect to benefit more in the future quarters . The widened product portfolio and channel coverage also laid a strong foundation for our growth in Q4 and 2022. " 1 Adjusted net income / loss ( non - GAAP ) is defined as net income / loss excluding share - based compensation expense