Niu Technologies (NIU) director lists RSU grant and ADS holdings

Rhea-AI Filing Summary

Niu Technologies director Ye Changqing has filed an initial statement of beneficial ownership. The filing reports 40,000 unvested restricted share units (RSUs), granted on October 19, 2024 under the 2018 Share Incentive Plan and scheduled to vest on October 19, 2026.

The filing also shows ownership of 50,000 American depositary shares (ADSs), with each ADS representing two Class A ordinary shares. Each RSU represents the contingent right to receive one Class A ordinary share upon vesting. The filing records current holdings rather than new market transactions.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Ye Changqing

(Last) (First) (Middle)

FLAT B, 36/F, HARBOUR GREEN, 8 SHAM

MONG ROAD, TAI KOK TSUI

(Street)

KOWLOON K3

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/02/2026

3. Issuer Name and Ticker or Trading Symbol
Niu Technologies [ NIU ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American depositary shares(1)	50,000(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted share units	(2)	(2)	Class A ordinary shares	40,000(2)	(3)	D

Explanation of Responses:

1. Each American depositary share ("ADS") represents two (2) Class A ordinary shares, with a par value of US$0.0001 per share, of Niu Technologies (the "Company").

2. The 40,000 unvested restricted share units ("RSUs") were granted to the reporting person on October 19, 2024 pursuant to the Company's 2018 Share Incentive Plan, and will vest on October 19, 2026.

3. Each RSU represents the contingent right to receive one (1) Class A ordinary shares of the Company upon vesting.

	/s/ Changqing Ye	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does Niu Technologies (NIU) Form 3 filed by Ye Changqing show?

The Form 3 for Niu Technologies (NIU) reports director Ye Changqing’s existing holdings. It lists 40,000 unvested RSUs and 50,000 ADSs, providing a baseline of the insider’s equity position at the time of filing.

How many restricted share units does Ye Changqing hold in Niu Technologies (NIU)?

Ye Changqing holds 40,000 unvested RSUs in Niu Technologies. These RSUs were granted on October 19, 2024 under the 2018 Share Incentive Plan and are scheduled to fully vest on October 19, 2026, subject to plan terms.

When do Ye Changqing’s RSUs in Niu Technologies (NIU) vest?

The 40,000 RSUs held by director Ye Changqing are scheduled to vest on October 19, 2026. Upon vesting, each RSU entitles the holder to receive one Class A ordinary share of Niu Technologies, according to the filing footnotes.

How many American depositary shares of Niu Technologies (NIU) does Ye Changqing own?

The Form 3 discloses that Ye Changqing owns 50,000 American depositary shares (ADSs) of Niu Technologies. Each ADS represents two Class A ordinary shares, giving indirect exposure to the company’s underlying ordinary equity.

What is the relationship between Niu Technologies (NIU) ADSs and Class A ordinary shares?

Each Niu Technologies ADS represents two Class A ordinary shares, as described in the filing footnotes. This means holding ADSs provides economic and voting interests tied to multiples of the company’s underlying ordinary shares.

Do Ye Changqing’s RSUs in Niu Technologies (NIU) represent actual shares today?

The 40,000 RSUs are currently unvested and represent a contingent right to receive Class A ordinary shares. Each RSU converts into one share only upon vesting on October 19, 2026, assuming applicable conditions are satisfied.