U Power Ltd

U Power Ltd. is a holding company, which engages in the provision of vehicle sourcing. The firm broker sales of vehicles between automobile wholesalers and buyers, including small and medium sized vehicle dealers, and individual customers. It also engages in the development of its proprietary battery-swapping technology which is designed to provide a comprehensive battery power solution for electric vehicles. The company was founded by Jia Li in 2013 and is headquartered in Wuhu, China.

Strategic Partnership Aims to Revolutionize South American Ride-Hailing SHANGHAI , Oct. 21, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) ("U Power" or "the Company"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced the signing of a Memorandum of Understanding with Ualabee Corp., a leading South American mobile travel platform. The strategic partnership aims to integrate U Power's proprietary UOTTA battery-swapping technology into Ualabee's ride-hailing services across South America, marking a significant step in the Company's global expansion strategy.

U Power and Ualabee Join Forces to Bring Innovative Battery-Swapping Solutions to South America's Ride-Hailing Market

SHANGHAI , Oct. 8, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced its financial results for the six months ended June 30, 2024. Mr. Jia Li, Chief Executive Officer and Chairman of the Board of Directors of the Company, commented, "In the first half of fiscal year 2024, our business achieved 595.7% year-over-year revenue growth to reach RMB13.2 million.

U Power Announces First Half of 2024 Financial Results

SHANGHAI, Aug. 5, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced that it has signed a Memorandum of Understanding with Velo Labs Technology Ltd. ("Velo Labs"), a global fintech company, to establish a battery infrastructure investment ecosystem in Thailand.

U Power and Velo Labs Collaborate to Establish Asset Fund Trading Platform for Battery Banks

SHANGHAI , July 3, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced that it had signed a Memorandum of Understanding ("MoU") with Pattaya AI Terminal Co., Ltd. ("Pattaya AI") to jointly drive the strategic development of green logistics and electric vehicle ("EV") infrastructure in Thailand.

U Power Expands Global Footprint with Strategic Move into Thai Market

SHANGHAI , June 5, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced that its UOTTA technology and battery swapping station model is to be adopted in a strategic collaboration between UNEX EV B.V. ("UNEX") and Associação Nacional dos Transportes Rodoviários em Automóveis Ligeiros ("ANTRAL").

UOTTA Technology to Be Adopted by a Portuguese National Taxi Association to Drive Decarbonization and Electric Mobility

SHANGHAI , June 3, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announced a follow-on purchase order from a major taxi operator in Jilin, China. The follow-on order is for the purchase of U Power's advanced dual-mode intelligent battery swapping stations, which feature separate robotic guided vehicles (RGVs) for battery removal and installation.

U Power Limited Announces Follow-on Purchase Order of Battery Swapping Station by Major Taxi Operator in Jilin, China

SHANGHAI , May 16, 2024  /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive electric EV battery power solution provider in China, today announces that on May 15, 2024, the Company filed its 2023 annual report (20-F) with the U.S. Securities and Exchange Commission (the "SEC"). 2023 Financial Highlights Total net revenues increased by 153.5% year over year to RMB19.8 million (US$2.8 million) in 2023.

U Power Announces Filing of 2023 Annual Report with the SEC

SHANGHAI , April 24, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated April 19, 2024, informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on the Nasdaq Capital Market. Additionally, in application of Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory panel monitor for a period of one year from the date of this letter.

U Power Limited Regains Compliance with Nasdaq Minimum Bid Price Requirement

U Power (NASDAQ: UCAR ) stock is rising higher on Monday after the electric vehicle (EV) company announced plans to launch its commercial battery swap service. A press release from U Power reveals that the company is going to launch this service sometime this month.

Why Is U Power (UCAR) Stock Up 69% Today?

SHANGHAI , April 8, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that its battery-swapping and sharing model for two-wheeled and light four-wheeled electric vehicles (EVs) is poised for a formal commercial rollout in Wuhu, Anhui Province, China. The rollout, which is expected to take place during April 2024, follows a successful round of market validations in February.

U Power To Launch Commercial Operation for its EV Battery Swapping System

U Power (NASDAQ: UCAR ) stock is up on Monday as the Chinese electric vehicle (EV) company prepares for a reverse stock split later this week. U Power will consolidate 100 shares of UCAR into a single share of stock when markets open on Wednesday.

Why Is U Power (UCAR) Stock Up 12% Today?

SHANGHAI , March 29, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that the Company held an extraordinary general meeting of shareholders on Monday, March 25, 2024, at which the shareholders approved the proposal for a 1-for-100 reverse share split of the Company's ordinary shares (the "Share Consolidation"). No fractional shares will be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation will be rounded up to the whole number of shares.

U Power Limited Announces 1-for-100 Share Consolidation

SHANGHAI , Feb. 23, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it has entered into a Memorandum of Understanding (the "MOU") on February 6, 2024, with Durapower Holdings Pte Ltd. ("Durapower"), a Singapore-based lithium-ion battery manufacturer.

U Power Limited Enters into a Memorandum of Understanding with Durapower Holdings Pte Ltd.

SHANGHAI , Feb. 20, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that on February 14, 2024, it received a notification letter (the "Letter") from the Listing Qualifications department of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company of Nasdaq's determination to delist the Company's ordinary shares from The Nasdaq Capital Market because the Company's ordinary shares had a closing bid price of $0.10 or less for ten consecutive trading days as of February 13, 2024, which triggered a notice of delisting pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule"). In addition to the Low Priced Stocks Rule delisting notice, the Company also currently fails to satisfy the requirement that the closing bid price of its ordinary shares remain at $1.00 or higher, as required by Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule"), and had received a notice from Nasdaq in that regard on January 19, 2024.

U Power Limited Receives Nasdaq Delisting Notification and Intends to Appeal

SHANGHAI , Feb. 12, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that their shared battery swapping solution designed for both two- and lightweight four-wheeled electric vehicles ("EVs") has entered the market validation phase. The first batch of over 40 battery swapping stations offering battery swapping services for both two- and lightweight four-wheeled EVs has been set up in Shanxi, China, catering specifically to the needs of delivery services and the food delivery industry.

U Power Announces Market Validation Phase of Shared Battery Swapping Solution for Two- and Four-wheeled EVs

SHANGHAI , Feb. 8, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that Mr. Bo Lyu resigned from the board of directors of the Company (the "Board") on January 31, 2024, and that the Board has appointed Jean Christophe von Pfetten ("Prof.

U Power Announces Appointment of New Independent Director

SHANGHAI, Feb. 6, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it has signed a Memorandum of Understanding ("MoU") with Cornerstone Technologies Holdings Limited ("Cornerstone"), a leading EV charging solution provider and charge point operator based in Hong Kong with an increasing presence across South East Asia, to jointly explore and develop a strategic business relationship. Pursuant to the MoU, U Power and Cornerstone intend to jointly assess and promote the application of new energy charging equipment and EV product solutions, such as battery swapping stations and other charging equipment to provide effective and sustainable solutions in Hong Kong and the Southeast Asia region.

U Power and Cornerstone Sign MoU to Explore the Application of New Energy Charging Equipment and EV Product Solutions in Hong Kong and Southeast Asia

Shanghai, China, Jan. 23, 2024 (GLOBE NEWSWIRE) -- U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced the Company had received a notification letter (the “Notification Letter”), dated January 19, 2024, from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), indicating that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq.

U Power Limited Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

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Shanghai, China, Dec. 06, 2023 (GLOBE NEWSWIRE) -- U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced the closing of its best-efforts follow-on offering (the “Offering”) of 10,000,000 units at a purchase price of US$1.20 per unit. Each unit consisted of one ordinary share of the Company, one Series A warrant to purchase one ordinary share of the Company, and one Series B warrant to purchase one ordinary share of the Company. The Series A warrants were immediately exercisable and will expire on the fifth anniversary of the original issuance date at an exercise price of US$1.20, and the Series B warrants were immediately exercisable and will expire on the fifth anniversary of the original issuance date at an exercise price of US$1.54.

U Power Limited Announces Closing of Registered Follow-on Offering

Shanghai, China, Dec. 04, 2023 (GLOBE NEWSWIRE) -- U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced the pricing of its best-efforts follow-on offering (the “Offering”) of up to 10,000,000 units at a purchase price of US$1.20 per unit. Each unit consists of one ordinary share of the Company, one Series A warrant to purchase one ordinary share of the Company, and one Series B warrant to purchase one ordinary share of the Company. The Series A warrants will be immediately exercisable and will expire on the fifth anniversary of the original issuance date at an exercise price of US$1.20, and the Series B warrants will be immediately exercisable and will expire on the fifth anniversary of the original issuance date at an exercise price of US$1.54. The Company expects to close the Offering on or about December 6, 2023, subject to the satisfaction of customary closing conditions.

U Power Limited Announces Pricing of Registered Follow-on Offering

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SHANGHAI , Oct. 10, 2023 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced its unaudited financial results for the six months ended June 30, 2023. Mr. Jia Li, Chief Executive Officer and Chairman of the Board of Directors of the Company, commented, "In the first half of fiscal 2023, we made considerable progress on the key objective of promoting the sales of commercial electric vehicles and the development of battery-swapping business models through the communication of industry insights with numerous domestic and international partners.

U Power Limited Reports First Half of Fiscal Year 2023 Financial Results

Shanghai, China, Sept. 19, 2023 (GLOBE NEWSWIRE) -- U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that the Company has entered into a strategic cooperation agreement (the "Agreement") with Magnify Capital Partners, a financial/investment advisory and fund management company, to establish an investment fund. The fund will be established to provide financial support, and Magnify Capital Partners will provide industry guidance, for the Company's prospective future projects, including infrastructure construction for battery charging and battery swapping stations, both for two-wheel and four-wheel vehicles, in Portugal. The Company currently does not have any business in Portugal. The term of the Agreement is one year.

News for U Power Ltd Stock (UCAR)