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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2023

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

22. PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

For the presentation of the parent company only condensed financial information, the Company records its investment in subsidiaries, consolidated VIE and VIE’s subsidiaries, under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investment in and amount due from subsidiaries, consolidated VIE and VIE’s subsidiaries” and the subsidiaries, consolidated VIE and VIE’s subsidiaries’ income as “Share of income (loss) from subsidiaries, consolidated VIE and VIE’s subsidiaries” on the condensed statements of results of operations. The parent company only condensed financial information should be read in conjunction with the Company’s consolidated financial statements. As of December 31, 2022 and 2023, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of Niu Technologies, except for those, which have been separately disclosed in the consolidated financial statements.

(a) Condensed Balance Sheets

​

​	​	​	​	​
​	​	As of December 31,
​		2022		2023
​	​	RMB	​	RMB
Assets	​	​	​	​
Current assets	​	​	​	​
Cash and cash equivalents	​	12,375,894	​	233,958,655
Term deposits-current	​	208,589,770	​	77,555,565
Restricted cash	​	176,204,380	​	107,521,733
Prepayments and other current assets	​	12,486,238	​	12,035,145
​	​	​	​	​
Total current assets	​	409,656,282	​	431,071,098
​	​	​	​	​
Non-current assets	​	​	​	​
Investment in and amount due from subsidiaries, consolidated VIE and VIE’s subsidiaries	​	906,298,879	​	671,329,320
Other non-current assets	​	1,219	​	—
​	​	​	​	​
Total assets	​	1,315,956,380	​	1,102,400,418
​	​	​	​	​
Liabilities	​	​	​	​
Current liabilities	​	​	​	​
Amount due to subsidiaries, consolidated VIE and VIE’s subsidiaries	​	4,262,270	​	4,564,315
Accrued expenses and other current liabilities	​	1,596,233	​	4,219,869
​	​	​	​	​
Total current liabilities and total liabilities	​	5,858,503	​	8,784,184
​	​	​	​	​
Shareholders’ equity:	​	​	​	​
Class A ordinary shares	​	89,428	​	90,031
Class B ordinary shares	​	10,316	​	10,316
Additional paid-in capital	​	1,915,825,641	​	1,964,138,365
Accumulated other comprehensive loss	​	(16,536,686)	​	(9,495,674)
Accumulated deficit	​	(589,290,822)	​	(861,126,804)
​	​	​	​	​
Total shareholders’ equity	​	1,310,097,877	​	1,093,616,234
​	​	​	​	​
Total liabilities and shareholders’ equity	​	1,315,956,380	​	1,102,400,418

​

(b) Condensed Statements of Results of Operations

​

​	​	​	​	​	​	​
​		For the Year Ended December 31,
​		2021		2022		2023
​		RMB	​	RMB		RMB
Total operating expenses		(11,441,931)		(15,414,575)		(17,739,201)
Share of income (loss) from subsidiaries, consolidated VIE and VIE’s subsidiaries		235,264,719		(39,264,560)		(270,498,551)
Interest income		1,997,621		5,216,206		16,401,770
​	​	​	​	​	​	​
Income (loss) before income taxes		225,820,409		(49,462,929)		(271,835,982)
Income tax expense		—		—		—
​	​	​	​	​	​	​
Net income (loss)		225,820,409		(49,462,929)		(271,835,982)

​

(c) Condensed Statements of Cash Flows

​

​	​	​	​	​	​	​
​		For the Year Ended December 31,
​		2021		2022		2023
​		RMB	​	RMB		RMB
Net cash provided by (used in) operating activities		25,839,822		(23,565,305)		14,392,402
Net cash provided by (used in) investing activities		16,132,750		(95,940,040)		133,818,900
Net cash provided by financing activities	​	6,246,384	​	2,203,086	​	654,023
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash		(6,107,381)		21,972,182		4,034,789
​	​	​	​	​	​	​
Net increase (decrease) in cash, cash equivalents and restricted cash		42,111,575		(95,330,077)		152,900,114
​	​	​	​	​	​	​
Cash, cash equivalents and restricted cash at the beginning of the year		241,798,776		283,910,351		188,580,274
​	​	​	​	​	​	​
Cash, cash equivalents and restricted cash at the end of the year		283,910,351		188,580,274		341,480,388

​

X

- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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