Core Insights - U Power Limited has signed a Memorandum of Understanding (MOU) with Shandong Hi-Speed New Energy Group Limited and BOCOM International to establish a commercial EV battery-swapping ecosystem in Hong Kong, with plans to expand to Thailand and Portugal [1][5][6] Group 1: Partnership Details - The partnership aims to build, install, and operate 50 smart, zero carbon battery-swapping stations in Hong Kong, with SHNE responsible for construction and BOCOM providing financing solutions [2][4] - U Power will offer technical and operational support to ensure compliance with local customer service and EV operating standards [2][3] Group 2: Strategic Goals - U Power's ultimate goal is to create a battery-swap ecosystem that transforms Hong Kong's commercial vehicle fleet into greener EVs, promoting sustainable urban transportation [3][4] - The introduction of Battery-Token, utilizing Web 3.0 blockchain and token-based economics, is part of this innovative business model [3] Group 3: Company Backgrounds - Shandong Hi-Speed New Energy Group Limited focuses on the development and management of clean energy projects across China and is actively exploring international markets [5] - BOCOM International Holdings Company Limited is a major player in securities brokerage and financial services in Hong Kong, providing a broad resource network [6] - U Power Limited specializes in AI-integrated energy solutions, optimizing the connection between electric vehicles and energy infrastructure [7][9]

Core Insights - U Power Limited has inaugurated Hong Kong's first smart battery-swapping station, which is a zero-carbon facility connected to a Battery-Bank, showcasing its commitment to sustainable energy solutions [1] - The company plans to construct a total of 55 smart battery-swapping stations in Hong Kong to support the electrification of the taxi fleet and promote sustainable urban transportation [2][3] - U Power is introducing Battery-Token, a blockchain-based solution that incentivizes users to participate in carbon reduction activities by earning tokens with each battery swap [6] Company Overview - U Power is a provider of electric vehicle (EV) battery-swapping solutions, utilizing its proprietary UOTTA™ technology to manufacture and sell various models of battery-swapping stations [5] - The company aims to become a comprehensive solutions provider for smart energy grids, focusing on intelligent battery swapping, green EV operations, and carbon reduction activities [6] Strategic Partnerships and Expansion - U Power is establishing Memorandums of Understanding (MOUs) with partners in Hong Kong, Macau, and Singapore to expand its battery-swapping ecosystem, with plans to sell and service a significant number of battery-swapping vehicles and operate multiple stations in these regions [3][4] - The company is collaborating with the Hong Kong Taxi Drivers & Operators Association to promote the electrification of taxis and the adoption of battery swapping, ensuring safety and performance [6]