U Power Ltd

Earnings data Q2 2024

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.

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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.

Why U Power Stock Is Highly Volatile This Week

U Power has announced a new partnership with a Japanese electric vehicle company. U Power appears to be entering new markets, and investors are excited about the potential.

Why U Power Stock Is Skyrocketing Today

U Power (NASDAQ: UCAR ) stock is continuing a rally Friday that started yesterday when it announced an agreement with Quantum Solutions. This saw the Chinese vehicle sourcing services provider enter into a framework strategic cooperation agreement with Quantum Solutions.

UCAR Stock Gains Another 59% on Agreement With Quantum Solutions

The shares of U Power Ltd. UCAR, +144.05% continued to soar Friday, as it rose 86.0% in premarket trading, and were the second-most actively ahead of the open with 9.5 million shares traded.

U Power stock rockets again in active trade, in wake of cooperation pact with Japan-based EV maker

Soaring above recent stormy clouds, China-based vehicle sourcing services provider U Power (NASDAQ: UCAR ) — which focuses on its proprietary battery-swapping technology for the electric vehicle market — announced a deal with Japan's Quantum Solutions. The latter enterprise is the first and only independent EV company listed on the Tokyo Stock Exchange.

Why Is U Power (UCAR) Stock Up 180% Today?

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Chinese small-cap stocks surge in meme-like rally

The stock market is enjoying a powerful rally on Thursday, led higher by mega-cap tech stocks. While all eyes seem to be focused on Meta Platforms (NASDAQ: META ) stock, U Power (NASDAQ: UCAR ) has enjoyed a superb rally on the day as well.

Why Is U Power (UCAR) Stock Up 30% Today?

LOS ANGELES--(BUSINESS WIRE)--WestPark Capital, a Los Angeles based international investment bank and securities firm announced today the closing of an initial public offering for U Power Limited (UCAR) a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China. The offering consisted of 2,416,667 ordinary shares at a public price of US$6.00 per ordinary share. The gross proceeds of the Offering were approximately US$14.50 million,.

WestPark Capital Announces Closing of $14.5 Million IPO for U Power Limited. (NASDAQ:UCAR)

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U Power shares skyrocketed amid more than 20 halts for volatility as the Chinese electric vehicle (EV) startup debuted on a US exchange on Thursday.  While its initial public offering (IPO) was priced at $6 per share, U Power surged as high as $75 before closing up about 620% at US$43.18 on the Nasdaq Capital Market.

U Power soars 620% in biggest US IPO this year

U Power (NASDAQ: UCAR ) stock is sliding lower on Friday after the company's stock went public on Thursday. U Power launched a $14.5 million IPO yesterday that saw it sell 2,416,667 shares of UCAR stock at a price of $6 per share.

Why Is U Power (UCAR) Stock Down 35% Today?

There's a new electric vehicle (EV) company on the block. For investors in this sector, sentiment has improved greatly around EV stocks.

UCAR Stock Alert: 10 Things to Know as U Power Starts Trading

Shanghai, China, April 20, 2023 (GLOBE NEWSWIRE) -- U Power Limited (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 initial public offering (the “Offering”) of 2,416,667 ordinary shares at a public price of US$6.00 per ordinary share. The gross proceeds of the Offering are expected to be approximately US$14.50 million, before deducting underwriting discounts and commissions, and other offering expenses. The ordinary shares are expected to begin trading on the Nasdaq Capital Market on April 20, 2023, under the symbol “UCAR.” The Offering is expected to close on April 21, 2023, subject to the satisfaction of customary closing conditions.

U Power Limited Announces Pricing of Initial Public Offering

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U Power Limited has filed proposed terms for a $17.5 million U.S. IPO. The company is commercializing battery swapping and compatible EVs.

News for U Power Ltd Stock (UCAR)