Niu Technologies Announces Changes to Board and Committee Compositions
November 23 2020 - 2:03AM
Niu Technologies (“NIU”, or “the Company”) (NASDAQ: NIU), the
world’s leading provider of smart urban mobility solutions, today
announced changes to its board of directors (the “Board”) and
committees of the Board. Ms. Jenny Hong Wei Lee has resigned as an
independent director from the Board and as the chairperson of the
compensation committee of the Board. Ms. Jenny Hong Wei Lee’s
resignation did not result from any disagreement with the Company.
Mr. John Jinshu Zhang will join the compensation
committee as the chairperson. After the changes, the Board will
consist of six members, four of whom are independent directors,
including Mr. Changqing Ye, Mr. Mei-Wei Cheng, Mr. Julian Juul
Wolhardt and Mr. John Jinshu Zhang.
About NIU
As the world’s leading provider of smart urban
mobility solutions, NIU designs, manufactures and sells
high-performance electric bicycles and motorcycles. NIU has a
product portfolio consisting of seven series, four e-scooter
series, including NQi, MQi and UQi with smart functions and Gova,
two urban commuter electric motorcycles series RQi and TQi, and a
performance bicycle series, NIU Aero. Different series of products
address the needs of different segments of modern urban residents
and resolve the demands of different scenarios of urban travel,
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 offer
the products and services. For more information, please visit
www.niu.com.
Safe Harbor Statement
This press release contains statements that may
constitute forward-looking statements 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. 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.
For investor and media inquiries, please
contact:
Niu TechnologiesJason YangInvestor Relations
ManagerE-mail: ir@niu.com
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