Research analysts covering U Power.
Recent press releases and 8-K filings for UCAR.
U Power Launches Tokenized Real-World Assets on BNB Chain
UCAR
Product Launch
New Projects/Investments
- U Power Limited (UCAR) announced the launch of its regulatory compliant tokenized real-world assets (RWA) on the BNB Chain, in collaboration with PicWe, marking a new phase for its battery swapping business.
- This initiative will initially be deployed in Southern Europe for commercial electric vehicles (EVs), with plans to expand into Southeast Asia, Hong Kong SAR, and South America.
- A strategic joint venture with FTT Holding Company LLC. includes a planned commitment of up to $50 million to support battery swapping infrastructure deployment in Southern Europe.
- The tokenization leverages UOTTA™ modular technology to connect dynamic energy assets, such as battery-swapping stations, to digital systems, aiming to enhance transparency and investment opportunities in EV new energy infrastructure.
Jan 26, 2026, 2:00 PM
U Power Partners with Whale Logistics for Electric Truck Deployment in Thailand
UCAR
New Projects/Investments
Product Launch
- U Power Limited, through its wholly-owned subsidiary U SWAP Company Limited, has entered a strategic partnership agreement with Whale Logistics (Thailand) Co., Ltd. to promote the deployment of commercial battery-swapping electric trucks in Thailand.
- U Power expects to sign sales agreements for up to 1,000 electric truck tractors, with the initial delivery of 30 units scheduled for April 2026.
- This collaboration marks the launch of U Power's long-term growth strategy for battery-swapping commercial trucks in Southeast Asia and the commencement of its commercial operations in Thailand.
Dec 29, 2025, 2:00 PM
U Power and FTT Holding to Form Joint Venture for European Expansion
UCAR
New Projects/Investments
- U Power Limited and FTT Holding Company LLC have signed a Letter of Intent to establish a strategic Joint Venture aimed at accelerating U Power's expansion in Southern Europe.
- FTT Holding plans to invest up to $50 million into the Joint Venture to support U Power's strategic growth initiatives, including the establishment of smart EV charging, battery-swapping, and next-generation energy infrastructures.
- Additionally, U Power entered into a Share Subscription Agreement with FTT Holding for a private placement of up to $10 million Class A ordinary shares.
- These shares will be issued at a significant premium to the current trading price and will have a 39-month lock-up period, with the agreement anticipated to be finalized in January 2026.
Dec 16, 2025, 12:00 PM
U Power Provides 2025 Year-End Business Updates
UCAR
New Projects/Investments
Revenue Acceleration/Inflection
Guidance Update
- U Power reported a 34.4% year-over-year increase in net revenues and an improvement in gross profit during the first six months of 2025.
- The company successfully expanded its battery-swapping operations into several international markets in 2025, including Hong Kong SAR, Thailand, Peru, and Southern Europe (Italy, Spain, Portugal, and Albania).
- U Power continued to refine its U Power modular battery-swapping platform in 2025, enhancing speed, compatibility, and cloud-based monitoring capabilities.
- Looking ahead to 2026, U Power plans to scale its international footprint, deepen strategic collaborations, and advance next-generation energy storage technologies.
Dec 9, 2025, 2:45 PM
U Power Limited Secures $2.01 Million in Senior Secured Promissory Notes
UCAR
Debt Issuance
- U Power Limited (UCAR) entered into a Securities Purchase Agreement on December 1, 2025, receiving $2,013,600 from an institutional investor.
- This transaction involved the issuance of senior secured promissory notes with an aggregate original principal amount of US$2,517,000, issued with a 20% original issue discount.
- The notes bear no interest unless an event of default occurs and are due on the Maturity Date of March 1, 2026.
- The company agreed to pay the placement agent, Maxim Group LLC, a cash fee of 7.0% of the gross proceeds received, plus up to $15,000 for out-of-pocket expenses.
- The proceeds from the sale of these securities will be used for working capital and general corporate purposes.
Dec 3, 2025, 9:30 PM
U Power Signs Initial €540,000 Sales Agreement with Polestar Energy for European Expansion
UCAR
New Projects/Investments
Revenue Acceleration/Inflection
- U Power has signed an initial sales agreement with Polestar Energy S.L. for twenty UOTTA™ battery-swapping Geely Farizon-UNEX electric vans and a supporting semi-autonomous three-slot smart battery-swapping station, valued at €540,000.
- This agreement marks U Power's first order in Europe for electric vans and dedicated battery-swapping stations, with initial deployment planned for Italy.
- The collaboration has the potential for significant expansion, with expectations for additional orders for up to 2,000 electric vans and compatible battery-swapping stations in the future, extending operations to Spain, Portugal, and Albania.
- This European expansion follows U Power's first official order in South America in September 2025.
Oct 21, 2025, 12:00 PM
U Power Reports Unaudited H1 2025 Financial Results
UCAR
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- 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%.
- 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).
- 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).
- U Power expanded its international customer base, secured strategic partnerships, and expects tangible revenue contributions from these agreements in the second half of 2025.
Oct 13, 2025, 12:00 PM
U Power Completes Real-World Assets Issuance with IoTeX
UCAR
New Projects/Investments
Product Launch
Revenue Acceleration/Inflection
- U Power Limited announced the completion of its Real-World Assets (RWAs) issuance through a strategic partnership with IoTeX.
- These RWAs are backed by U Power's battery swapping business and related assets in China and Southeast Asia.
- 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.
- 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.
Sep 29, 2025, 12:00 PM
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