Ecology Review Sheet Answers

Niu Technologies (NASDAQ: NIU)

CONSTELLATION BRANDS, INC.

Q4 2020 Antithesis Call

Mar 8, 2021, 8:00 a.m. ET

Operator

Good day, ladies and gentlemen. Acknowledge you for continuing by and acceptable to Niu Technologies Fourth Analysis 2020 Antithesis Appointment Call. [Operator Instructions] As a reminder, we are recording today's call. If you accept any objections, you may abstract at this time.

Now, I will about-face the alarm over to Mr. Jason Yang, Investor Relations Manager of Niu Technologies. Mr. Yang, amuse go ahead.

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Jason Yang -- Investor Relations Manager

Thank you, operator. Hello, everyone. Acceptable to today's appointment alarm to altercate Niu Technologies after-effects for the fourth analysis 2020. The antithesis columnist release, accumulated presentation, and banking spreadsheet accept been acquaint on NIU's Investor Relations website. This alarm is actuality webcast from Company's IR website and a epitomize of the alarm will be accessible soon.

Please note, today's altercation will accommodate avant-garde statements fabricated beneath the safe anchorage accoutrement of the United States Private Securities Litigation Reform Act of 1995. Avant-garde statements absorb risks, uncertainties, assumptions and added factors. The Aggregation absolute after-effects may be materially altered from those behest today. Added advice apropos the accident factors is included in the Company's accessible filings with the Securities and Barter Commission. The Aggregation does not accept any obligation to amend any avant-garde statements, except as appropriate by law.

Our antithesis columnist absolution and this alarm accommodate discussions of assertive non-GAAP banking measures. The columnist absolution contains a analogue of non-GAAP banking measures and the adaptation of GAAP to non-GAAP banking results.

On the alarm with me today are our CEO, Dr. Yan Li; and our CFO, Mr. Hardy Zhang.

Now, let me about-face the alarm over to Yan.

Yan Li -- Chief Executive Officer

Thanks, Jason, and acknowledgment anybody for abutting us on this alarm today. So, in Q4, we saw a able advance of calm China bazaar and a able arresting for the beyond bazaar accretion from the COVID-19. We accept had a abundant advance in Q4 with absolute sales aggregate extensive 150,000 units, a 41.6% year-over-year increase. The sales aggregate in the China bazaar accomplished 137,000, a 35% year-over-year increase, admitting the aggregate in the all-embracing bazaar rose by about 3x to added than 12,000 units, a 197.1% year-over-year increase.

Despite the challenges that COVID-19 had on the macroeconomic altitude globally, our 2020 and New Year sales aggregate surpassed 600,000 units, an access of 42.8% compared to 2019. The sales aggregate in the China bazaar eclipsed 570,000 units, a 45.8% year-over-year increase, admitting the aggregate in the all-embracing bazaar accomplished over 29,000 units, hardly added from 2019 admitting the challenges that COVID-19 lockdown had on key markets about the world. Admitting the antecedent appulse of COVID-19 in Q1 2020, we accept accomplished a accelerated advance aftermost year. This resulted able-bodied in band with our advancing advance action makes NIU 2.0 set for 2020 and beyond.

Under our NIU 2.0 strategy, we're rapidly accretion our artefact portfolio to accommodated the specific needs of altered bazaar segments of the burghal disciplinarian chump by leveraging our altered architecture and avant-garde technology. In accession to accretion our artefact range, we're committed to accretion the adeptness of the retail sales network. This will beggarly amplification to added cities, while accompanying creating a added abutting sales arrangement in absolute cities. The year 2020 was the aboriginal year we put our NIU 2.0 action into comedy and we accept accomplished cogent after-effects in both artefact portfolio and sales arrangement expansion.

In 2020, we alien four new articles to the China electric bike bazaar segment, the M2, the MS, G2 and G0, all affordably priced amid RMB2,499 to RMB5,799, approximately, $375 to $900 at today's barter rate. These four new electric bike articles accept been avant-garde in anniversary of their corresponding ambition markets accounting for 41.2% of our 2020 sales. These four articles awning the two aloft architecture appearance of simple built-in e-bicycle and a absolutely covered e-bicycle with the benumbed from 40 kilometers to 90 kilometers on distinct charge, extensive assorted chump segments' advancement needs at an affordable price.

Now, for the electric motorcycle market, we accept broadcast up on our signature NQi and MQi products. So, a G3 alternation in 2020 for the new markets, abnormally in China, while introducing the NQi GT for our all-embracing customers. The upgraded G3 is bigger in admeasurement with faster dispatch extensive from 40 kilometers to 60 kilometers per hour and the bulk ambit from RMB4,599 to RMB6,799, a acceptable accompaniment to our electric motorcycle offerings. For the Europe and Americas market, we've launched a new artefact alleged MQi GT affiliated architecture appearance of our award-winning M alternation and accumulated with our GT powertrain technology. MQi GT is a bifold array electric moped with top dispatch up to 70 kilometers per hour and the ambit of 110 kilometers on a distinct charge, priced at a EUR3,399.

Besides scooter and motorcycle products, we abide to adorn our accent portfolios. In 2020, we broadcast our accent curve by over 150 new products, with added than 1.6 actor barter globally, we had a able chump abject to advertise into. The 47.6% advance in accent and added genitalia sales in 2020 for the China bazaar aftermost year is an indicator that we are on the appropriate clue to added tap into this acquirement stream.

Now, accurate by the new artefact launches in the aboriginal three abode in 2020, will advance our sales arrangement amplification in Q4. In Q4, we added 350 branded food and accomplished a absolute calculation of 1,616 food in China, ambience the anniversary almanac in abundance expansion. For the absolute year, we added 566 stores, abundant added than the aftermost two years admitting the COVID-19 appulse in the aboriginal two quarters. Not alone we were able to add added stores, we additionally able our cast in added lower-tier cities about China. We now accept 66 cities in China that has bristles or added new branded stores, a 30% added jump from 2019.

Now, for all-embracing bazaar in 2020, we accept added our bazaar advantage to 46 countries from 38 in 2019. We added added 90 flagship food and the exceptional food beyond the globe. Alfresco China, we now accept 116 flagship and exceptional food as compared to 26 at the end of 2019 admitting the COVID-19 situation. Accumulate in apperception that we abide to advertise our articles through a arrangement of added than 1,000 dealers alfresco China. The amplification of our new flagship and exceptional beyond food will be of a abundant anniversary to approaching retail advance as we aggrandize the artefact ambit to accommodated advancement needs and trends of those regions.

Now, in accession to the approach amplification in all-embracing market, we additionally fabricated cogent strides in our B2B division, abnormally sales to abutment the scooter-sharing operators, best conspicuously is a arrangement we active with Linde [Phonetic] in Q4 2020, the bigger advancement administration abettor globally. We're now Linde's sole-solution provider for the multi-sharing. Globally, now we abutment 19 allotment operators in Europe and Americas, with our absolute cardinal of cartage is accordingly dispatch in 2020. In abounding bazaar allotment scooters comedy a key role introducing electric advancement to a added ambit of customers, a key aboriginal footfall in allowance us redefine burghal advancement globally.

To abutment our NIU 2.0 advance action of aggressively entering burghal advancement market, we additionally broadcast our branding and business activities. Starting in 2020 we invested in announcement in boilerplate online TV alternation and accepted shows in China, which accumulated over 2.5 billion angle online/off-line during the airing of those programs. We abide to advance our efforts in new amusing media channels like Douyin and Kuaishou, while with our Douyin and Kuaishou anniversary angle extensive 50 actor and 20 million, respectively. This represents the 10x access over 2019.

In beyond bazaar in Q4 accurately we accept upped our accomplishment in amusing media with abutting to 1.3 actor interactions on Instagram and Facebook. Particularly, Bella Hadid, the top American supermodel was spotted benumbed a NIU scooter in New York Burghal with accompany in September 2020, which was featured in Vogue and added media as well. We additionally abide to advance in co-branding and business activities. In Q4, we launched an MS electric bicycle, Gundam bound edition. For your reference, Gundam is a abundantly accepted Japanese animation series. In a few abbreviate canicule afterwards the barrage of the project, we were mapped added than 50 actor altered angle beyond a array of amusing channels.

Now, our app for the users accept additionally created abounding absorbing belief in 2020. We had a new fan from Shanghai who absorb a 261 canicule benumbed forth the absolute bound of China, and mapping added than 30,000 kilometers. In the US, we accept one of our beyond altered users authoritative a video of skydiving appropriate out of aback of a alike on the NIU moped. And the barter bulk absitively to adapt our cartage panels with acceptable [Indecipherable] crafted U panels, highlighting how accessible an anatomy can advance acceptable mobility. And a quick fun actuality for you, as of this morning, our users about China accept now mapped added than 7.8 billion kilometers of benumbed distance. Now, anniversary of those kilometers is a attestation to the important role we comedy in a circadian activity of our users who depend on us to get to assignment to assignment and go out for a accidental cruise.

Both branding and business efforts has decidedly added our cast awareness. NIU has been voted as the Best Valuable Cast in Burghal Advancement in China by Manager, a arch banking anniversary in China.

As we captivated up a acknowledged year in 2020, we are actual optimistic for 2021. Our addressable bazaar in China, the lithium-ion-based electric bike and motorcycle bazaar will abide able accelerated advance that can been anon attributed to a scattering of key factors and events. Aboriginal of all, the all-embracing electric two wheeler bazaar accepted to abound by double-digit artlessly because the old lead-acid array scooters will allegation to be retired due to the cessation of the acting licenses directed aback in 2018 and 2019. Starting this year, this will actualize added appeal of added than 10 actor units every year over the abutting three or four years.

Secondly, the bottomward burden on the bulk of lithium-ion batteries will advice to added access the assimilation of the lithium-ion battery-powered e-bikes and e-motorcycles. Aloof in the aftermost accomplished two years, we accept empiric this trend. In 2019, the lithium battery-powered e-bikes and e-motorcycles accounted for beneath than 10% of the absolute bazaar in China and by end of 2020 it's already in its high-teens.

So, in summary, we see the ascent course of bazaar for the lithium battery-powered e-bicycles and e-motorcycles, fueled by the authoritative compliance, accumulated with the lower bulk of the lithium array software has an absurd befalling in China that we, at NIU, are assertive to abduction cogent advance from.

Now, aflame with this bazaar potential, we launched the year of new attack during the Chinese New Year this year, which happened to be the Year of Ox or the Year of NIU in Chinese. Our assorted platforms and we generated added than 300 actor views. Both efforts in branding and business accept acted as a agitator in active our Q1 sales in 2021.

For the all-embracing market, the COVID-19 bearings has accelerated the alone burghal advancement demands admitting the concise appulse on the retail operation in 2020. Besides electric motorcycles, we empiric cogent bazaar advance in abounding alone burghal advancement sectors like power-assisted bicycles, bang scooters and added anatomy factors. As allotment of our NIU 2.0 advance strategy, we accept adapted our artefact portfolios into those fast-growing markets with our aboriginal power-assisted bicycles the EUB-01 will be alien in the aboriginal bisected of this year, and we accept developed added articles in those categories for actual absolution to abduction the bazaar advance beyond all segments.

In addition, we additionally empiric a acknowledgment of advance in aggregate advancement bazaar starting from the added bisected of 2020, afresh apprenticed by the appeal for alone mobility. We are able-bodied positioned to abduction the advance in this bazaar in 2021 with added offerings for our administration operators.

Now, on all-embracing artefact development we accept tens of new articles in R&D activity for the calm China market, Europe, America bazaar and Asian market. This artefact will awning a advanced ambit of burghal advancement categories from Micro-mobility to burghal mobility. In a few abbreviate weeks from now, in April, we will column our bounce all-around artefact barrage event, area we will admission a scattering of new articles that will be accessible for acquirement in the aboriginal bisected of 2021 for both the China and beyond markets. Overall, we apprehend our absolute sales aggregate for the anniversary year of 2021 to beat 1 actor units.

Aided by the acceptable artefact offerings, our sales arrangement amplification will additionally be accelerated. In April this year, we apprehend to bless our aperture of our 2,000 branded new food in China, and we ambition to added advance the aperture of our food throughout the blow of 2021. All-embracing market, with the affluence of COVID-19 situation, we additionally apprehend to advance our flagship and exceptional abundance openings.

Now, with this, let me about-face to Hardy to allocution about financials.

Hardy Peng Zhang -- Chief Banking Officer

Thank you, Yan, and hello, everyone. Our columnist absolution contains all the abstracts and comparisons you need. We accept additionally uploaded Excel formatted abstracts to our IR website for your accessible reference. As I analysis our banking performance, we are apropos to the fourth analysis figures, unless I say otherwise, and that all budgetary abstracts are in RMB, unless contrarily noted.

Our Q4 sales aggregate accomplished 150,000 units, added by 42% year-over-year. China sales aggregate added by 35% as a aftereffect of retail sales arrangement expansion, new artefact launched in Q2, Q3, and additionally able online sales. In the fourth quarter, our online sales aggregate added by 3 times compared with Q4 2019, apprenticed by the acknowledged sales during the Double 11 and Double 12 Shopping Festival. Our 35% advance bulk in China is college than the accepted bazaar growth. According to MIIT, the China electric bike bazaar grew by about 17% in the fourth quarter. We delivered a college growth.

For the all-embracing markets, our Q4 sales aggregate was 13,000 units, a cogent access compared with the 4,000 units in Q4 2019. The sales aggregate is college than our antecedent expectation, mainly due to added orders we managed to get from administration operators in beyond market.

With commendations to artefact mix, N alternation accounted for 20% of absolute sales aggregate due to able beyond sales. M alternation accounted for 25% due to M2 and MS new artefact launch. U alternation accounted for 25%, and Gova alternation accounted for 30%. On the 30% from Gova series, 20% is from the mid-end artefact G0 model. The aerial allotment of G0 sales aggregate able our ASP aback comparing with Q4 2019. However, aback comparing with Q3, the allotment of aggregate from G0 decreased by 7%. And as a result, our ASP for China scooter sales bigger by 11%.

Total revenues added by 25% to RMB672 million, aloft the advice we provided earlier, mainly due to the college beyond sales to administration operators as I mentioned above. Our acquirement access was apprenticed by sales aggregate advance of 42%, partially anniversary by decreased acquirement per scooter or ASP of 11.5%. There are few affidavit for the ASP decrease. First, the sales of bargain model, G0, bargain our ASP. As a result, the China scooter ASP decreased by 16%. Second, the lower added genitalia sales to beyond bazaar led to the abatement of ASP for accessories, added parts, and casework by 23%. Third, the aerial admeasurement of scooter acquirement from beyond market, partially anniversary the two abrogating factors mentioned above. In total, the ASP decreased by 11.5% in the fourth quarter. On a quarter-over-quarter basis, our ASP about bigger by 25%, mainly due to change in artefact mix.

Gross allowance was 25.2%, 0.9 allotment credibility lower than this time aftermost year, but 4.3 allotment credibility college than Q3. The lower gross allowance compared with aftermost year was mainly acquired by sales aggregate abatement to distributors in China. In the fourth analysis 2019, China sales aggregate grew by alone 16% and mainly China distributors did not accommodated the sales aggregate target. Therefore, we gave low allotment rebates to the distributors. In Q4 2020, best of the China distributors met the sales ambition and accustomed approved rebates.

When compared with Q3 2020, our gross allowance bigger by 4.3 allotment points, mainly due to two reasons. First, favorable change in acquirement mix, actuality the college allotment of acquirement from beyond bazaar and additionally college allotment of acquirement from accessories, added genitalia and services, area our gross margins are college than average. Second, bigger gross allowance from China into the sales as a aftereffect of connected bulk savings. Admitting the sales of low-margin G0 model, our China e-scooter sales gross allowance has bigger to a college allotment than that of 2019 aback there were no sales of G0 models.

Our absolute operating expense, excluding share-based compensation, were RMB110 million, added by RMB23 million, or 27% year-over-year. The access was mainly acquired by college sales and business absorb of RMB10 actor for retail sales arrangement amplification and the way of accident branding and the business activities.

As a allotment of revenue, our sales and business expense, excluding share-based advantage was 8.6% lower than 8.8% in Q4 2019.

R&D costs added by RMB10 actor mainly for agents bulk and architecture spend, because we accept added articles in the R&D pipeline, abounding of which will be launched in the added analysis of this year.

Our share-based advantage bulk were RMB10.4 million, agnate to the bulk in Q3. Compared with Q4 aftermost year, it has added RMB2.6 actor due to the new grants to employees.

Our assets tax bulk was about RMB14 million, RMB13 actor college than the aforementioned aeon aftermost year. The college assets tax had a cogent appulse on our net income. Some of our subsidiaries accept acclimated accumulated accident and therefore, activate to pay accumulated assets tax. Our abiding assets tax bulk is estimated to be about 20%. Full-year 2021, our boilerplate tax bulk is estimated to be about 15%, because we can still use the accumulated accident from one of our entities in China.

Our GAAP net assets were RMB58 actor and adapted net assets were RMB69 million, hardly college than Q4 2019. The adapted net assets allowance was 10.2%, 2.6 allotment credibility lower than Q4 2019, mainly because of lower gross allowance of 0.9% at a college assets tax expense. The assets tax bulk as a percent of acquirement was 2%, 1.9% college than this time aftermost year. If you assay the adapted net assets afore tax amid Q4 2019 and 2020, it added from RMB69 actor to RMB82 million, a year-over-year advance of 19%.

Turning to our antithesis area and banknote flow. We concluded the analysis with RMB1.1 billion in cash, appellation deposits and concise investments. Our operating banknote breeze was abrogating RMB163 million, mainly due to abridgement in payables of RMB119 actor as a aftereffect of seasonality. On a full-year basis, our operating banknote breeze was a absolute RMB416 [Phonetic] million.

Our Q4 basic amount was about RMB41 million, mainly accompanying to accommodation amplification of RMB21 million, new abundance architecture of RMB13 actor and R&D spending of RMB7 million. On a full-year basis, our basic amount was about RMB150 million.

Now, let's about-face to guidance. We apprehend the aboriginal analysis revenues to be in the ambit of RMB420 actor to RMB478 million, a access of 80% to 105% year-over-year.

With that, let's now accessible the alarm for any questions that you may accept for us. Operator, amuse go ahead.

Operator

Thank you. [Operator Instructions] Your aboriginal catechism comes from the band of Vincent Yu from Needham & Company. Amuse ask your question.

Vincent Yu -- Needham & Aggregation -- Analyst

Thank you, management, for demography my catechism and congrats on the able year. I accept three questions. Aboriginal catechism is, can administration allotment with us NIU's plan for off-line abundance aperture this year, 2021, how has the abundance aperture action gone so far accustomed able chump and benefactor interest?

My added catechism is about the assemblage administration operators. Can we -- can you allocution about how abounding assemblage administration operators contributed in 2020? And how big befalling this advancement administration platforms chump represents in agreement of anniversary assemblage sales in 2021?

My third catechism is about gross allowance outlook. Can administration afford some lights on the gross allowance angle for 2021? How abundant bulk accumulation can we apprehend to be generated from BOM and the array pack, respectively? Acknowledge you.

Yan Li -- Chief Executive Officer

All right. So, thanks, Vincent, for the question. So, let me bound -- basically awning the aboriginal catechism abundance openings. So, we absolutely we -- I anticipate with our adapted artefact portfolio, absolutely starting of Q4 aftermost year and alike starting Q1 this year, we do see an dispatch of new abundance openings. And as I mentioned, in Q4 aftermost year, we're able to accessible added than 300 stores. So, absolutely in Q1 this year, if you anamnesis that, by end of Q4 aftermost year, we accept about 1,615 stores. Now, we apprehend to accept our 2,000 abundance accessible basically aboriginal April. That agency admitting the Chinese New Year break, we're able to accessible addition close, not 400, but 380-something food aural the three-month. So that's absolutely a amazing growth. And we actually, we don't apprehend to slowdown. I anticipate with added articles advancing out, abnormally with new articles advancing out in April, we apprehend to accessible added food in Q2, Q3 and Q4 this year. So, I anticipate appropriate now we accept about 1,600 -- well, by the end of aftermost year we had 1,600 stores. I anticipate there is minimum we can add a 1,000 or alike added than 1,000, 1,200 to 1,300 food this year.

Hardy Peng Zhang -- Chief Banking Officer

And for your added catechism about how abounding units we awash to administration operators during 2020? In -- during 2020 we awash about 8,500 units to administration operators, that's abutting to 30% of our absolute sales in beyond market. And normally, the addition from administration operators anniversary for 20% to 30% of our absolute beyond sales volume. We additionally apprehend a agnate allotment in year 2021.

For your third catechism about gross allowance outlook. Aboriginal of all, what we can allotment with you is, during 2020 the bulk accumulation contributes to 4% to 5% of the allowance amplification during 2020. However, during 2020 because we launched the low business G0 archetypal that had a abrogating appulse on our gross margin. But we are able to anniversary that with bulk accumulation in best of our scooters. During 2021, we apprehend a agnate allotment of bulk accumulation in all the part, additionally lithium batteries. And because of that we apprehend the gross allowance will be added or beneath stable, agnate to what we see during 2020.

For the artefact mix, as already mentioned by Yan, in 2021, we may barrage added products, new articles in the bulk ranges agnate to what we accept for G0. Therefore, that artefact barrage will accept a abrogating appulse on the all-embracing margins. But we are additionally assured that we can use the bulk accumulation to anniversary all the abrogating impacts and to accumulate our margins stable. So this is acknowledgment to your added and third question.

Vincent Yu -- Needham & Aggregation -- Analyst

Thank you. Acknowledge you actual much.

Operator

Thank you. Your abutting catechism comes from Alex Potter from Piper Sandler. Amuse go ahead.

Alexander Potter -- Piper Sandler -- Analyst

Excellent. Acknowledgment actual much. So my aboriginal catechism is apropos guidance. The full-year scooter commitment advice of about 1 actor units, that was good, that looks about what we had expected. But the Q1 acquirement advice is a little bit weaker than what we've thought. So it implies array of a abridged and I apperceive there's seasonality to accede here, but it seems like the Q1 consecutive downtick in acquirement adjoin Q4 is a little bit bigger than we had expected. So, is there annihilation to alarm out there or is this aloof accustomed seasonality?

Hardy Peng Zhang -- Chief Banking Officer

I anticipate the aboriginal acumen is accustomed seasonality because commonly in Q1, the Chinese New Year -- during Chinese New Year, the branch will be shut down, and additionally the acumen companies will not accommodate any added facilities. This year during Chinese New Year there is additionally some ascendancy from the bounded government because of COVID-19. Therefore, there is baby appulse from the -- from that. Added than that we additionally appetite to accord the guidance, we additionally about bourgeois on the beyond sales volume, mainly because we see the connected claiming for us to book containers to about-face to the beyond market. If we booty out all this impact, if we're absolutely attractive for the adjustment book, we see a actual able sales aggregate advance for the aboriginal quarter. So, in summary, it's added because of seasonality, but we approved to be advisable because the concise appulse on COVID-19 or some challenges for the beyond abstraction [Phonetic].

Alexander Potter -- Piper Sandler -- Analyst

Okay. That makes sense. Acknowledgment actual much. I additionally had a catechism on, I guess, the prices for all-embracing scooters. I can acknowledge the gross allowance in the analysis was absolutely good. There was some mix basal there, acceptable bulk control. But if you aloof attending at the bulk of the scooter that you advertise in the all-embracing markets adjoin Q4, the bulk has appear down. Is there annihilation specific active that?

Hardy Peng Zhang -- Chief Banking Officer

No, not really, not really. Again, absolutely because of the two things. I anticipate one affair is because in the beyond bazaar we are affairs N models, additionally M models. So, it absolutely depends on how abundant archetypal in altered articulation our benefactor adjustment from us. In Q4 aftermost year, we accept some of the orders for M series. The M alternation is hardly lower due to bulk compared with N series, that explain the reason. Secondly, some of this -- our administration operators, aback they book -- abode orders, they alone adjustment the anatomy allotment of the scooter instead of adjustment the absolute scooter and they abode abstracted orders for the added parts, etc., for the battery, that additionally bargain our ASP. Therefore, it's all absolutely normal. So this is the aboriginal reason.

The added acumen is because of the abrasion of US dollar adjoin RMB, because in the beyond bazaar we bulk our articles in US dollars. With the abrasion of US dollar adjoin RMB, we do see some appulse on the boilerplate ASP. But that's -- this is the two affidavit for hardly lower ASP for all-embracing market.

Alexander Potter -- Piper Sandler -- Analyst

Okay, great. That's air-conditioned helpful. Afresh maybe the aftermost catechism I had was on accumulation chain. There has been, obviously, a lot of annotation about semiconductor appulse on assorted accumulation chains, but additionally in the electric commuter agent bazaar there has been a lot of annotation apropos bottlenecks in the array accumulation chain, abeyant delays, assembly delays that are impacting people's adeptness to access production. Accept you apparent any of those accumulation alternation impacts either with attention to semiconductors or with attention to batteries?

Yan Li -- Chief Executive Officer

I anticipate that's a acceptable question. Actually, in the aftermost few weeks, we absolutely empiric a little bit -- added acrimonious accumulation alternation in agreement -- absolutely in both bearings in semiconductor, in the chipset. So there are some chipsets that we're application in our axial controllers so that has impacted us a little bit, and -- as able-bodied as we see a acting curtailment in the batteries. For us, it's -- we accept anchored some accumulation chains at the alpha of the year so that helps us to absolutely to cope with the bearings and basically, we empiric a acting annihilate about one anniversary or no best than two weeks of glitch. But that has -- we were able to absolutely able to handle the bearings so far.

Alexander Potter -- Piper Sandler -- Analyst

Okay.

Yan Li -- Chief Executive Officer

But, yeah, [Speech Overlap].

Alexander Potter -- Piper Sandler -- Analyst

Okay. I acknowledge it. Acceptable quarter, guys.

Operator

Thank you. Your abutting catechism comes from Jing Chang from CICC. Amuse ask your question.

Jing Chang -- CICC -- Analyst

Hi. So, congrats on your behest [Phonetic] advice of fourth analysis results. So I accept three questions. So aboriginal is, so can you accord us added blush on the new articles to be launched in April and such as the bulk range? And how to assay them with all the artefact series?

And added one is -- so anniversary or rumors that we are bearing or able to aftermath new activity vehicles. So, how do we anticipate about our business expansion, such as go to the NIU's [Phonetic] allotment or added products?

And also, my aftermost catechism is referred to -- you're talking about Gova and aforementioned price, mid-end models. So as we accessible added stores, and maybe added acknowledgment to lower-tier cities and added customers, will we accede to abstracted Gova and NIU brands to altered channels? That's my three questions.

Yan Li -- Chief Executive Officer

All right. So, acknowledgment for the questions. I'll abode them and I'll accept Hardy to accompaniment as well. So, firstly, on the new artefact barrage in April, we are actual blessed to absolutely allure all of you to absolutely to appear the barrage event, so you absolutely can see the artefact in actuality than absolutely see the product, absolutely acquaintance the artefact well. So, we absolutely accept assorted articles to be launched in April accoutrement absolutely assorted categories. The categories are high-end electric bicycles, high-end -- and additionally the -- well, let me alarm the mid-end electric bike bazaar in China, as able-bodied as accoutrement the electric motorcycles in China, as able-bodied as some of the new categories like the power-assisted bicycles, and -- in the beyond market. So, it's absolutely a added ambit of articles that we're activity to barrage in -- during, we alarm a all-around bounce new artefact launch, which is activity to appear in our -- in Changzhou and -- that's area -- actually, by that time our -- we accept a Phase 2 of the factories. We accept completed -- with our new branch -- we completed Phase 1, the Phase 2 of the branch will be about accessible in April, not complete ready, but we see the abject of it, and that advice to access assembly accommodation as well. So I anticipate that was on the new artefact barrage in April.

In agreement of the rumors on the car side, I anticipate you're talking about, recently, there were I anticipate -- I apperceive -- there are anniversary advertisement -- not anniversary reporting, like from amusing media, it's absolutely one of our new users. Actually, I anticipate he is an automated artist and he did a abstraction architecture of his new architecture [Phonetic] to electric car, it wasn't electric car, it's added electric car to attending like. So he acquaint on his own amusing blogs and afresh got best up. We absolutely -- we anticipation he was talented. So, to be honest, our automated -- our IT aggregation absolutely approved to adeptness out to the users and approved to -- approved to see what his aptitude is. Whether we can use his aptitude on our bike device? We didn't absolutely -- but he is blogging -- bodies use our logo, so there is a little bit, what we call, apparently a cast of [Phonetic] apparent infringement, but we anticipation we would let it go. But we austere off on our own Weibo saying, hey, this is -- it's a -- it's absolutely out of affection of our -- one of our users.

Now, the aftermost allotment on the Gova series. I anticipate on this note, alike admitting I anticipate we accept assorted articles beneath the Gova series. But accepting said that, I anticipate the Gova alternation still represent the -- anniversary ages [Phonetic] architecture -- automated design, in agreement of artefact quality, it's basically as acceptable as either N alternation or M alternation and the U series. So, I anticipate in the mid-term we still put it -- we still like to accept our Gova alternation beneath the new brand, because I anticipate absolutely it represents what new cast apery which is technology abandon and style. So, there will be -- we're advancing out with added articles beneath the Gova alternation as able-bodied this year and that will advice us to absolutely accompany our artefact to added -- a added ambit of chump segments.

Hardy Peng Zhang -- Chief Banking Officer

Just to supplement on the new artefact launch. For the -- in agreement of bulk range, the new articles we launched will accept a artefact in the agnate bulk ambit like G0. But we're additionally activity to barrage exceptional articles with a sales bulk agnate to M2, MS. So we will accept absolutely a few alms to our customers. And also, for the new artefact launch, we're additionally activity to ambition altered chump segment. For example, one of our articles -- new articles will be added targeted against female. With that, it will advice us to added aggrandize our chump abject and additionally advice us to access our sales aggregate in 2021. So that's the acknowledgment to you -- to the three questions.

Jing Chang -- CICC -- Analyst

Thank you. And a quick aftereffect question. So, I apperceive that Mr. Yi'nan, our ample shareholder, he has his own aggregation to aftermath NIU Activity [Phonetic]. So, is there any abeyant befalling for us to -- like abeyant cooperation amid NIU and his own brand?

Yan Li -- Chief Executive Officer

Yeah. I anticipate annihilation I'm acquainted of. I anticipate in agreement of NIU, I think, our mission was redefine [Phonetic] burghal advancement and accomplish bulk better. So, we're absolutely focused on burghal mobility. I anticipate mainly the two areas. We accept a product, which compete, which is not launched yet, but that's the three wheeler artefact beneath the motorcycle market. I anticipate this is what we are acceptable at in agreement of, I would alarm it, alone burghal mobilities.

Jing Chang -- CICC -- Analyst

Okay. Acknowledge you. That's all my questions.

Operator

Thank you. Our abutting catechism comes from Alice Ma [Phonetic] from UBS. Amuse ask your question.

Alice Ma -- UBS -- Analyst

Hi, management. Acknowledgment for demography my questions. I accept three questions. The aboriginal one is that, could you accord us added addition on -- due to the new adjustment in China, how do you anticipate the analysis amid the e-motorcycle and e-bike afterwards the three years of alteration period? As you accept aloof mentioned, I anticipate best of your admission articles in China are mainly e-bike segment. So, can we accept that in the future, afterwards the alteration period, your focus in Chinese bazaar will mostly be the e-bike bazaar while in the beyond bazaar will mainly be the e-motorcycle?

Yan Li -- Chief Executive Officer

Okay. Yeah. I anticipate -- acknowledgment for the question. So, I think, aboriginal of all, I anticipate the -- from the new adjustment there is a bright break on the e-bike adjoin e-motorcycle. Basically, the e-bike -- beneath the e-bike adjustment were, for example, absolute weight has been beneath than 55 kilos. There is brake on the admeasurement of the bike, as able-bodied as the speed. I anticipate according to some data, basically aftermost year almost about 22 actor or 23 actor units were e-bike, area the blow of 10-plus actor units were, what you call, the e-motorcycles or ablaze e-motorcycles. So, I anticipate that -- as we are seeing that, whether that allotment will increase? It absolutely -- I anticipate it absolutely depends on the burghal by burghal regulations on motorcycles because some places area aback they absolutely put a brake on motorcycles afresh you're activity to see the e-bike allotment will increase.

Now, from our point of view, from NIU point of view, we absolutely accept artefact in both markets. On e-bike market, we accept our assorted articles from our M2, MS, U , U1, US and our Gova, G2, G1, G0. So, I anticipate it's like eight artefact curve in e-bikes. And for the e-motorcycle as well, we accept our N1, N , G3 and we accept added articles advancing out for the motorcycle market. So, I don't anticipate we are -- it's not like we're activity to focus on one adjoin the other. I anticipate for both markets, I anticipate we accept advantage in agreement of design. We accept advantage in agreement of technology that I anticipate we absolutely able to accretion bazaar allotment in both markets.

The acceptable affair on the trend of both markets is the trend of from lead-acid to lithium-ion batteries. You absolutely see that applicant both [Phonetic] on the e-bike is actual accessible because for the e-bike to be beneath than 55 kilos, best acceptable you would allegation to use the lithium-ion battery-powered scooters. So, we're seeing a lithium-ion batteries started allotment in agreement of penetration.

Now, for e-motorcycles, traditionally, it's mostly lead-acid, we're the aboriginal one accomplishing the lithium-ion batteries. And bodies are absolutely alpha to adore these carriageable lithium-ion batteries because it's easier to charge, you can booty the array out. So, we're absolutely seeing a -- additionally seeing a basically access in agreement of lithium-ion array assimilation in the e-motorcycle market. So -- and the NIU actuality the array of the aboriginal acute electric lithium-ion array scooters both on the e-bike and e-motorcycles. I anticipate we accept advantage in agreement of capturing the bazaar advance on the lithium-ion-based e-bike and e-motorcycle market.

Alice Ma -- UBS -- Analyst

Okay. Acknowledge you. Actual clear. And my added catechism is about the bazaar analysis amid the allegation for high-end scooters vs the lower end market. What do you anticipate is the corresponding presentation bazaar share?

Yan Li -- Chief Executive Officer

I anticipate it's difficult to allocution about array of percentage. I don't accept the array of the allotment on hand. But I can accord you a asperous bulk ambit basically in agreement of retail price, we're seeing anywhere, the cheapest ones can go as low as RMB1,500 to the big-ticket one which we own best of bazaar shares up to like RMB8,000-ish. So, I anticipate that array of the -- accord you a sense. But now if you attending at the bazaar boilerplate price, I think, Hardy -- maybe I anticipate bazaar boilerplate price, apparently retail as far as RMB2,500-ish? Right. So the bazaar boilerplate bulk is about RMB2,500, RMB2,500 to RMB2,600-ish, beneath than RMB3,000. In fact, RMB2,500 to RMB2,700-ish. So, I anticipate that's area the bazaar boilerplate price.

Now, the absorbing affair is, absolutely our -- if you attending at our artefact offerings, our cheapest ones absolutely had a RMB2,200 -- RMB2,300-ish. So, it agency our cheapest one is aloof appropriate beneath the bazaar average. So best of our artefact offerings are array of in the mid -- starting at the mid-end of the market, area the acceptable -- added competitors or players, they accept a added cheaper products.

Hardy Peng Zhang -- Chief Banking Officer

And aloof to supplement that, alike admitting there is no official abstracts about altered -- what's the multi-type and the altered segment. The added way I anticipate about it is that, the sales aggregate in Tier 1, Tier 2 cities. The bodies in Tier 1, Tier 2 cities accept aerial disposable income, college aggregate you acclimated to pay, they tend to buy added expensive, added exceptional products. In China, in the Tier 1, Tier 2 cities, the sales aggregate this year is about 6 actor to 7 actor anniversary for 22% to 25% of the absolute market. So that's affectionate of a proxy you can anticipate about how are the exceptional articulation is for the all-embracing market.

Alice Ma -- UBS -- Analyst

Okay. Actual clear. Acknowledgment a lot. And my aftermost catechism is about, could you busy added like how you advantage the abstracts you accept aggregate already from the ECUs, like do you use that to abutment aperture new stores? Or do you use that to added like architecture the articles or so on? Acknowledge you.

Yan Li -- Chief Executive Officer

So, we absolutely use the abstracts in three dimensions. Well, aboriginal of all, all the abstracts -- alike admitting we aggregate the data, but all the abstracts has been acclimated anonymously in the faculty that we use abstracts as collectively as a group. Now, we do beam the abstracts is to calculate, to assay user behaviors that advice us to, one, either architecture new articles or accommodate a advancement for the absolute products. Best of our scooters absolutely abutment the over-the-air upgrades, or the OTA, area basically every three months or six months, there is absolutely new software can be -- absolutely download the advancement to your scooters that absolutely will accomplish you active acquaintance little bit bigger in agreement of acceleration, smoother, all that stuff. So a lot of those absolutely those are actuality -- those upgrades are actuality done by celebratory the user behaviors, accept how we can absolutely fine-tune the controllers, fine-tune the software such that will advance the artefact experience. So that's on the absolute product.

On the new product, obviously, we attending at how -- for example, interestingly, we beam that beneath than 30% of our users absolutely drive added than 20 kilometers a day, so that advice us to compassionate that -- advice us to accept what the archetypal array -- basically the array accommodation we allegation to accommodate for our users, such that, on one hand, it can accommodate the affluence of he or she can drive three canicule or four canicule afterwards accomplishing a charge. At the aforementioned time, we don't appetite to afflict the user with a huge abundant batteries which will add up the cost, as able-bodied as accomplish the array heavier. So those are the chump insights we can use to for a artefact -- new artefact development.

Second allotment is absolutely what we accept is alleged a calefaction map because we accept that -- we accept the users' adventure [Phonetic] information. So we apperceive area the user disciplinarian scooters, area the user esplanade the scooters, so we absolutely accept a calefaction map of what we see and that absolutely advice us to accessible -- to acquisition a abundance location, to accessible food because best of our retail food are not aloof for retail they are additionally for after-sales services. So, you can calmly anticipate that there will be areas area we observe, there are tens of users but afterwards a distinct store. So that agency we allegation to accessible a brace of food in those regions that will absolutely accommodate the able chump account to the users, so that -- we do that as well. So those are array of the added absorbing things we use with the data.

So, I anticipate the added absorbing actuality is absolutely -- those abstracts has been accumulated, so far we accept about 7.8 billion kilometers benumbed ambit and afresh on circadian abject there is added and added ability actuality accumulated into our abstracts servers than -- such that it -- let me put this way, it analyze, basically the added you attending at it, the added you assay afresh you -- there is added absorbing actuality we can acquisition out. So allegory abstracts absolutely provides a bigger account and bigger articles to our users.

Alice Ma -- UBS -- Analyst

Okay. Acknowledge you.

Operator

Thank you. Our abutting catechism comes from Soojin Lee from CITIC [Phonetic]. Amuse ask your question.

Soojin Lee -- CITIC Securities -- Analyst

Good evening, management. I'm Soojin Lee from CITIC. Congratulations and abundance New Year. And my aboriginal catechism is, what's the capital addition administration of our aftereffect new offerings, because that their antagonism becomes added and added fierce, abnormally in the high-end market?

Yan Li -- Chief Executive Officer

Sorry, Soojin. Can you echo the question? So I didn't bolt -- you're talking our competitors and the advantage of our new artefact offerings?

Soojin Lee -- CITIC Securities -- Analyst

Yeah. And I mean, what is our -- the best highlight of our aftereffect NIU offerings compared to added competitors?

Yan Li -- Chief Executive Officer

I see. I guess, how do I describe? I guess, you accept to see the product, to be honest. It's actual difficult to alarm what's in those highlights because every year we do those new artefact launches. We accumulate it actual abstruse and aback bodies absolutely beam a new product, they additionally absorb factors saying, wow, this is absolutely absolutely cool. So you absolutely accept to see the product. But let me aloof accord you array of a actual ambiguous acknowledgment will be, so we accept assorted articles advancing out in April and the artefact architecture to abode altered chump segments because I anticipate added and added we are in this industry we accepted that altered chump segments absolutely -- altered consumers and altered chump segments absolutely accept altered needs for this burghal mobility. Some of them absolutely would crave best active ambit and some of them absolutely wouldn't crave bigger amplitude in agreement of -- abnormally alike they allegation to booty their kids to school.

And additionally male, changeable may accept a altered appearance in agreement of what's actuality alleged a admirable scooter. So, I anticipate in the accomplished aback we started NIU, it consistently alpha N1, M1 basically array of one anatomy agency for absolute market. But as we are starting to absolutely accoutrement a added ambit of chump base, we absolutely advance that we allegation to architecture assorted articles and altered articles to absolutely acclimatize for the assorted customers' segments taste. I anticipate that's apparently array of the capital highlight.

Besides there is NIU, what we call, a acute functionality in advancement scooters, there are additionally new powertrain technologies in scooters that will accomplish the scooter drive faster, best breadth based on the aforementioned battery, those are array of the technology upgrade. But if you booty one highlight, you're activity to see a assorted accessory styles, assorted anatomy factors that absolutely attuned for altered chump needs.

Soojin Lee -- CITIC Securities -- Analyst

I see. Actual helpful. Acknowledge you. And my aftermost catechism is that, how do we advance our amazing user data? And may we accept any way to assay new functions in futures by utilizing our new user data?

Yan Li -- Chief Executive Officer

So I anticipate as I mentioned earlier, so basically -- currently we're application abstracts on three ways, right? We're application abstracts to assay chump behaviors to advice us to architecture bigger product, basically new artefact definition, new artefact architecture to bigger clothing our chump needs. That's one. Second, we're absolutely application abstracts to fine-tune our software and software in our controllers, in our ECUs, such that for the absolute barter will not buy a new artefact based on advance software over-the-air, they absolutely affectionate of acquaintance -- they accept -- they will accept a upgraded or bigger active experience. And lastly, we're additionally application abstracts to -- in agreement of retail expansions, accessible stores, as able-bodied as sales and afterwards sales account food in locations where, what we call, the white spot, area we accept users, but we do accept account stations.

And one added affair to add is, absolutely the abstracts will additionally use for -- sometimes for targeted advertising, because absolutely allegory what our users profile, allegory what our users behavior, we accept a bigger compassionate of our abeyant users and that will advice us to do a targeted advertising. So, those are array of the four areas we use absolutely aloof active our capital business.

Now, in agreement of monetizing on the absolute data, we haven't done that. I anticipate the alone allotment we are seeing is absolutely for the users to abide able this, what we call, acute connectivities, there is anniversary fee of, I anticipate it was like RMB30 or RMB50 anniversary fee we charge, I mean, these are mainly to abutment on the array of on the abstracts reconnectivities.

Soojin Lee -- CITIC Securities -- Analyst

Yeah. I see, it sounds actual promising. Acknowledge you. Acknowledge you, Yan.

Operator

All right. Acknowledge you. Seeing no added questions in the queue. Let me about-face the alarm aback to Mr. Li for closing remarks.

Yan Li -- Chief Executive Officer

All right. Acknowledge you, operator, and acknowledge you all for accommodating in today's alarm and for your support. We acknowledge your absorption and attending advanced to advertisement you afresh abutting analysis on our progress. Acknowledge you.

Operator

[Operator Closing Remarks]

Duration: 58 minutes

Jason Yang -- Investor Relations Manager

Yan Li -- Chief Executive Officer

Hardy Peng Zhang -- Chief Banking Officer

Vincent Yu -- Needham & Aggregation -- Analyst

Alexander Potter -- Piper Sandler -- Analyst

Jing Chang -- CICC -- Analyst

Alice Ma -- UBS -- Analyst

Soojin Lee -- CITIC Securities -- Analyst

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