U Power Ltd

U Power Ltd. 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 Shanghai, China.

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.

U Power Limited Enters into Strategic Cooperation Agreement with Magnify Capital Partners to Establish an Investment Fund

Presentation on Tuesday, October 3rd at 08:30 AM PT Wuhu, China--(Newsfile Corp. - September 18, 2023) - U Power Limited (NASDAQ: UCAR), a Nasdaq listed, leading science and technology company of new energy with our cutting-edge battery charging and swapping ecosystem—UOTTA, announced today that it will be presenting at the 16th annual Main Event on Tuesday, October 3rd at 08:30 AM PT at the Luxe Sunset Boulevard Hotel. Johnny Lee will be giving the presentation.

U Power Limited Announces Participation in the LD Micro Main Event XVI

Shanghai, China, Sept. 13, 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's subsidiary, Youpin Automobile Service Group Co., Ltd., pursuant to a strategic cooperation agreement and an equipment procurement contract for the sale and installation of two UOTTA battery-swapping stations, with Zhejiang Petroleum Energy Sales Co., Ltd. (“Zhejiang Petroleum”), has started the installation for a second station for electric taxis in Anji county, Zhejiang Province. Zhejiang Petroleum is a comprehensive energy integrated supply and service provider owned by China's energy conglomerate, Zhejiang Provincial Energy Group. In July 2022, U Power delivered the first UOTTA battery-swapping station in Anji county, which caters to the local battery-swapping needs of electric taxis and endeavors to reduce the operational costs for local taxi service providers. The second station is expected to be delivered in September and open to the public by October 2023.

U Power Limited to Deliver the Second UOTTA Battery-swapping Station for Electric Taxis by October 2023 in Anji County, Zhejiang Province, China

U Power Limited is a risky investment in the Chinese automotive industry, lacking tangible evidence to justify its high valuation. The company's financial health is concerning, with net losses and negative cash flows, raising doubts about its ability to sustain growth. U Power faces intense competition and supply chain risks while also being vulnerable to changes in Chinese regulations or geopolitical fallout.

Is U Power Limited The Next Big Thing In China's EV Market? Probably Not

Shanghai, China, Aug. 23, 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 it filed its annual report on Form 20-F for the fiscal year ended December 31, 2022, with the U.S. Securities and Exchange Commission (the “SEC”) on August 22, 2023. The annual report on Form 20-F can be accessed on the SEC's website at http://www.sec.gov and the Company's investor relations website at http://ir.upincar.com/.

U Power Limited Files Its Annual Report on Form 20-F for Fiscal Year 2022

China recently extended massive tax breaks to promote the adoption of EVs. The new tax breaks are good news for U Power, but the company's overall performance outlook is unclear.

Why U Power Stock Is Up Big This Week

A new, and rather large, Chinese government incentive program made investors bullish on that country's automotive sector. The program takes the form of tax breaks for alt-fuel models, such as electric vehicles.

Why U Power Stock Skyrocketed 49% Higher Today

U Power stock saw huge gains following the company's announcement of a partnership with Quantum Solutions. But shares pulled back after the rally.

News for U Power Ltd Stock (UCAR)