- U Power reported **H1 2025 net revenues of RMB17.7 million (or $2.5 million)**, a **34.4% increase** year-over-year, and **gross profit significantly increased by 551.5% to RMB8.4 million (or $1.2 million)**, with gross margin improving to **47.3%**.  **[1939780_20251013CN94545:0]** **[1939780_20251013CN94545:1]** 
- The company recorded a **net loss of RMB27.4 million (or $3.8 million)** for H1 2025, compared to RMB26.5 million in H1 2024, with basic and diluted losses per common share improving to **RMB5.8 (or $0.81)**.  **[1939780_20251013CN94545:1]** 
- As of June 30, 2025, **cash and cash equivalents were RMB22.7 million ($3.2 million)**, and **working capital was RMB77.3 million ($10.8 million)**.  **[1939780_20251013CN94545:0]** **[1939780_20251013CN94545:1]** 
- U Power expanded its international customer base, secured strategic partnerships, and expects **tangible revenue contributions from these agreements in the second half of 2025**.  **[1939780_20251013CN94545:0]** **[1939780_20251013CN94545:1]**

U Power Reports Unaudited H1 2025 Financial Results

- **U Power Limited** announced the completion of its **Real-World Assets (RWAs) issuance** through a strategic partnership with **IoTeX**.  **[1939780_20250929CN85104:0]** 
- These RWAs are backed by U Power's **battery swapping business** and related assets in **China and Southeast Asia**.  **[1939780_20250929CN85104:0]** 
- The issuance is a significant milestone in U Power's **Web3.0 strategy** to expand its battery-token and battery-bank operations, with the corporate asset-backed RWAs approved for trading on **HabitTrade**.  **[1939780_20250929CN85104:0]** 
- The partnership aims to create a next-generation **electric vehicle (EV) battery swapping system** utilizing blockchain (Web3), AI, and tokenized RWAs, which is expected to unlock new revenue streams and investment opportunities.  **[1939780_20250929CN85104:0]**

U Power (UCAR)