Group 1 - U Power (NASDAQ:UCAR) is set to launch its commercial battery swap service in Wuhu, Anhui Province, China, targeting approximately 800 customers through 60 service points [1] - The CEO of U Power, Jia Li, highlighted that vehicles using battery-swapping have significantly higher average daily mileage compared to those using traditional charging, indicating improved efficiency for customers [1] - Following the announcement, UCAR stock experienced a significant increase of 69.2% as of Monday morning, with trading volume exceeding 4.7 million shares, far above the daily average of about 315,000 shares [2] Group 2 - The launch of the battery swap service has generated excitement among investors, contributing to the notable rise in stock price and trading activity [2]

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 ...

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 ...

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. Pursuant to the MOU, U Power and Durapower intend to jointly explore several areas ...

Core Viewpoint - U Power Limited has received a delisting notification from Nasdaq due to its ordinary shares closing at $0.10 or less for ten consecutive trading days, which violates the Low Priced Stocks Rule [1][2] Group 1: Delisting Notification - The Company was notified on February 14, 2024, about the determination to delist its ordinary shares from Nasdaq due to a closing bid price of $0.10 or less [1] - The Company also fails to meet the Minimum Bid Price Rule, which requires a closing bid price of $1.00 or higher, and received a notice regarding this on January 19, 2024 [2] Group 2: Appeal Process - The Company plans to appeal Nasdaq's determination to a Hearings Panel on February 21, 2024, which will stay the suspension of its ordinary shares pending the Panel's decision [2] Group 3: Compliance Measures - The Company intends to monitor the closing bid price of its ordinary shares and may consider options such as a reverse share split to regain compliance with Nasdaq Listing Rules [3] Group 4: Company Overview - U Power Limited is a vehicle sourcing services provider aiming to become a comprehensive EV battery power solution provider in China, focusing on its proprietary battery-swapping technology [4] - The Company has established a vehicle sourcing network in China's lower-tier cities and operates a manufacturing factory in Zibo City, Shandong Province [4]

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 li ...

Core Viewpoint - U Power Limited has announced the resignation of Mr. Bo Lyu from its board and the appointment of Prof. Jean Christophe von Pfetten as an independent director, effective February 1, 2024, which is expected to enhance the company's governance and strategic direction [1][3]. Company Overview - U Power Limited is a vehicle sourcing services provider aiming to become a comprehensive EV battery power solution provider in China, focusing on its proprietary battery-swapping technology known as UOTTA [4]. - The company has been operational since 2013 and has established a vehicle sourcing network in China's lower-tier cities, developing two types of battery-swapping stations and operating a manufacturing factory in Zibo City, Shandong Province [4]. New Board Member Profile - Prof. Jean Christophe von Pfetten is an accomplished diplomat and academic with extensive experience, including roles as Chairman of the Institute for EastWest Strategic Studies and a visiting professor at People's University of China [2]. - He has authored a book and over thirty articles on topics related to corporate governance, political economics, and international relations, holding degrees in Physics, Chemistry, and Geophysics [2].

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 exp ...

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 requirem ...

Exhibit 99.1 U POWER LIMITED INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------| | | Page(s) | | CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2022 AND JUNE 30, 2023 (UNAUDITED) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE SI ...