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Niu Technologies (NIU)

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Institutional Investors' Holdings

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No.	Name	Shares	Value	% Port
1.	Vanguard Group Inc	1,772,945	$3,882,749	0%
2.	Carmignac Gestion	897,408	$1,965,324	0.03%
3.	Goldman Sachs Group Inc	813,451	$1,781,458	0%
4.	Assenagon Asset Management S.a.	558,457	$1,223,021	0%
5.	Morgan Stanley	487,906	$1,068,514	0%