Subsidiaries

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Place of Incorporation

Niu Technologies Group Limited

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Hong Kong

Beijing Niudian Information Technology Co., Ltd.

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Mainland China

Niu Innovation Technology Ltd

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British Virgin Islands

Niu Technologies Europe AG

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Switzerland

Niu Technologies Germany GmbH

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Germany

Niu Technologies Italy S.R.L.

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Italy

Variable Interest Entity

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Place of Incorporation

Beijing Niudian Technology Co., Ltd.

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Mainland China

Subsidiaries of the Variable Interest Entity

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Place of Incorporation

Jiangsu Xiaoniu Diandong Technology Co., Ltd.

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Mainland China

Shanghai Xiaoniu Internet Technology Co., Ltd.

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Mainland China

Changzhou Niudian International Trading Technology Co., Ltd.

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Mainland China