SCHEDULE: Niu Technologies: Major Shareholder Increases Stake

Glory Achievement Fund Limited and its affiliates have increased their beneficial ownership in Niu Technologies to 36.3% through recent open-market purchases.

Summary

• This is Amendment No. 3 to the Schedule 13D filing for Niu Technologies, updating previous disclosures.
• The Reporting Persons, Glory Achievement Fund Limited, Bull Group Limited, and BULL TRUST, collectively hold a significant stake in Niu Technologies.
• Glory Achievement Fund Limited purchased 1,071,766 American Depositary Shares (ADSs), representing 2,143,532 Class A ordinary shares, in the open market.
• These purchases occurred between January 31, 2026, and February 9, 2026, totaling approximately US$3.6 million.
• The funds used for these purchases were from Glory Achievement Fund Limited's own working capital.
• The aggregate beneficial ownership by the Reporting Persons now stands at 56,555,745 ordinary shares, which represents 36.3% of the class.
• The stated purpose of these transactions is for investment purposes.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as a significant shareholder increasing their stake typically signals confidence in the company's valuation and future, though it's a routine disclosure for ownership changes.

Positives

• A significant shareholder, Glory Achievement Fund Limited, increased its stake in Niu Technologies, signaling confidence in the company's value.
• The open-market purchases were made for investment purposes, indicating a long-term view by the Reporting Persons.

Risks

• The Reporting Persons may, at any time, acquire additional securities of the Issuer or dispose of all or a portion of their current holdings.
• Future actions by the Reporting Persons are dependent on various factors, including the price levels of ADSs, general market and economic conditions, and the Issuer's business prospects.
• Any future acquisitions or dispositions will be subject to the Issuer's policies, including its insider trading policy.

Future Outlook

The Reporting Persons intend to regularly review their shareholding and may, at any time, acquire additional securities, dispose of all or a portion of their holdings, or take other actions. These decisions will be influenced by factors such as stock price levels, market conditions, Niu Technologies' business performance, and alternative investment opportunities.

Management Comments

• The Recent Open-Market Purchases were made for investment purposes.
• We intend to review our shareholding on a regular basis and, as a result thereof, may at any time or from time to time determine, either alone or as part of a group, to acquire additional securities of the Issuer, to dispose of all or a portion of the securities, or to take any other available course of action.

Industry Context

StockSavvy.ai notes that an increase in a significant shareholder's stake can often be interpreted as a vote of confidence in the company's future prospects, potentially signaling undervaluation or strategic alignment. This move by Glory Achievement Fund Limited could attract further investor attention to Niu Technologies, especially given the competitive landscape of electric scooter and urban mobility solutions.

Stakeholder Impact

• Shareholders: May interpret the increased stake by a major investor as a positive signal, potentially influencing investor sentiment and the company's stock price.

Next Steps

• The Reporting Persons will continue to review their shareholding in Niu Technologies on a regular basis.
• Potential future acquisitions or dispositions of Niu Technologies securities by the Reporting Persons.

Key Dates

Recommendation

While the increased stake by a major shareholder is a positive signal, a Schedule 13D amendment primarily reports ownership changes for investment purposes. It does not provide new operational or financial performance data to warrant a stronger buy recommendation. Investors should hold and monitor Niu Technologies' fundamental performance and broader market conditions.

Keywords

Niu Technologies, NIU, Schedule 13D, beneficial ownership, share purchase, open market, investment, Class A ordinary shares, ADSs, Glory Achievement Fund Limited, Bull Group Limited, BULL TRUST