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U Power Ltd

U Power Ltd (UCAR)

7.20
0.40
(5.88%)
Closed June 23 4:00PM
6.76
-0.44
(-6.11%)
After Hours: 7:59PM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
7.20
Bid
6.82
Ask
7.79
Volume
31,998
6.672 Day's Range 7.15
4.2046 52 Week Range 919.00
Market Cap
Previous Close
6.80
Open
6.99
Last Trade
11
@
6.84
Last Trade Time
Financial Volume
$ 221,834
VWAP
6.9328
Average Volume (3m)
1,488,816
Shares Outstanding
2,460,938
Dividend Yield
-
PE Ratio
-0.91
Earnings Per Share (EPS)
-7.86
Revenue
19.76M
Net Profit
-19.34M

About U Power Ltd

U Power Ltd is involved in the provision of vehicle sourcing services. It is principally engaged in the provision of new energy vehicles development and sales; battery swapping stations manufactory and sales; battery swapping services and sourcing services. The company as a broker engaged in sales o... U Power Ltd is involved in the provision of vehicle sourcing services. It is principally engaged in the provision of new energy vehicles development and sales; battery swapping stations manufactory and sales; battery swapping services and sourcing services. The company as a broker engaged in sales of vehicles between automobile wholesalers and buyers, including small and medium sized vehicle dealers and individual customers primarily located in the lower-tier cities in China, which are smaller and less developed than the tier-1 or tier-2 cities. Show more

Sector
Motor Vehicle Part,accessory
Industry
Motor Vehicle Part,accessory
Headquarters
Grand Cayman, Cym
Founded
1970
U Power Ltd is listed in the Motor Vehicle Part,accessory sector of the NASDAQ with ticker UCAR. The last closing price for U Power was $6.80. Over the last year, U Power shares have traded in a share price range of $ 4.2046 to $ 919.00.

U Power currently has 2,460,938 shares outstanding. The market capitalization of U Power is $17.60 million. U Power has a price to earnings ratio (PE ratio) of -0.91.

UCAR Latest News

UOTTA Technology to Be Adopted by a Portuguese National Taxi Association to Drive Decarbonization and Electric Mobility

UOTTA Technology to Be Adopted by a Portuguese National Taxi Association to Drive Decarbonization and Electric Mobility PR Newswire SHANGHAI, June 5, 2024 SHANGHAI, June 5, 2024 /PRNewswire/ -- U...

U Power Limited Announces Follow-on Purchase Order of Battery Swapping Station by Major Taxi Operator in Jilin, China

U Power Limited Announces Follow-on Purchase Order of Battery Swapping Station by Major Taxi Operator in Jilin, China PR Newswire SHANGHAI, June 3, 2024 SHANGHAI, June 3, 2024 /PRNewswire/ -- U...

U Power Announces Filing of 2023 Annual Report with the SEC

U Power Announces Filing of 2023 Annual Report with the SEC PR Newswire SHANGHAI, May 16, 2024 SHANGHAI, May 16, 2024  /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power...

U Power Limited Regains Compliance with Nasdaq Minimum Bid Price Requirement

U Power Limited Regains Compliance with Nasdaq Minimum Bid Price Requirement PR Newswire SHANGHAI, April 24, 2024 SHANGHAI, April 24, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the...

U Power To Launch Commercial Operation for its EV Battery Swapping System

U Power To Launch Commercial Operation for its EV Battery Swapping System PR Newswire SHANGHAI, April 8, 2024 SHANGHAI, April 8, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company...

U Power Limited Announces 1-for-100 Share Consolidation

U Power Limited Announces 1-for-100 Share Consolidation PR Newswire SHANGHAI, March 29, 2024 SHANGHAI , March 29, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
11.0717.45513866236.137.156.06424236.88526392CS
41.628.57142857145.67.154.72011179505.48546873CS
121.22068.634.204614888165.96985981CS
26-11.8-62.105263157919234.2046160179719.38354907CS
52-555.8-98.72113676735639194.2046887205237.37289769CS
156-802.8-99.111111111181075004.20468608138121.61408803CS
260-802.8-99.111111111181075004.20468608138121.61408803CS

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UCAR Discussion

View Posts
4lmaral 4lmaral 2 weeks ago
But with every good news follow a downward
👍️0
Invest-in-America Invest-in-America 3 weeks ago
UCAR: Interesting!!
👍️0
Lottoplay Lottoplay 3 weeks ago
$UCAR technology being utilized! “With 50,000-60,000 European taxis expected to transition to electric vehicles in the next three to five years, our technology and support systems are well-positioned to drive this transition across various countries and regions. The application of our UOTTA technology in the collaboration demonstrates that it is gradually being adopted and validated in overseas markets. We will continue to work with EV manufacturers and taxi companies to secure additional partnerships, creating value for our shareholders through business development in the European market."
👍️0
tw0122 tw0122 3 weeks ago
Battery swapping is the future quicker then sitting at a charging station. 5 minute swap…EV battery power solution provider in China, today announced that its UOTTA technology and battery swapping station model is to be adopted in a strategic collaboration between UNEX EV B.V. ("UNEX") and Associação Nacional dos Transportes Rodoviários em Automóveis Ligeiros ("ANTRAL").

ANTRAL is an association of companies in Portugal representing public passenger road transport companies operating light vehicles designated as taxis. Through their collaboration, UNEX and ANTRAL aim to significantly reduce greenhouse gas emissions in the transport sector by 2030, in line with the European Union's decarbonization targets and Portugal's regulatory requirements for taxi vehicles.
👍️0
Lottoplay Lottoplay 1 month ago
Boom!!! Let her rip!!!
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Lottoplay Lottoplay 1 month ago
K, you all talked me into it. I’m in!
👍️0
SriMaharaj SriMaharaj 1 month ago
Nice. It crossed $6 mark now. Wait until end of day today.
👍️0
SriMaharaj SriMaharaj 1 month ago
Let's take it to next level that we can do it with team work.
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SriMaharaj SriMaharaj 1 month ago
UCAR is going to be next AMC.
👍️0
SriMaharaj SriMaharaj 1 month ago
I believe UCAR is going up from here. Watch it for upward movement from here.
👍️0
WHITTENHALLJR WHITTENHALLJR 2 months ago
Share consolidation lol what a joke lol
👍️0
4lmaral 4lmaral 2 months ago
What a POS.
👍️0
Awl416 Awl416 2 months ago
U Power To Launch Commercial Operation for its EV Battery Swapping System
👍️0
Invest-in-America Invest-in-America 2 months ago
UCAR: Soaring on big news!!
👍️0
abrooklyn abrooklyn 3 months ago
U Power Limited Announces 1-for-100 Share Consolidation

Source: PR Newswire (US)
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 be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation will be rounded up to the whole number of shares.

At the opening of trading on April 3rd, 2024, the Company's ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol, "UCAR", with a new CUSIP number of G9520U116. The Share Consolidation is being effectuated primarily to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) related to the minimum bid price per share of the Company's ordinary shares.

About U Power Limited
U Power Limited is a vehicle sourcing services provider, with a vision to becoming an EV market player primarily focused on its proprietary battery-swapping technology, or UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs. Since its operation in 2013, the Company has established a vehicle sourcing network in China's lower-tier cities. The Company has developed two types of battery-swapping stations for compatible EVs and is operating one manufacturing factory in Zibo City, Shandong Province, China. For more information, please visit the Company's website: http://ir.upincar.com/.

Forward-Looking Statements
This press release may contain "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.

Contact
U Power Limited
Investor Relations Department
Email: ir@upincar.com

Robin Yang, Partner
ICR, LLC
Email: UPower.IR@icrinc.com
Phone: +1 (212) 475-0415

Cision View original content:https://www.prnewswire.com/news-releases/u-power-limited-announces-1-for-100-share-consolidation-302103406.html

SOURCE U Power Limited


Copyright 2024 PR Newswire
👍️0
abrooklyn abrooklyn 3 months ago
Last filing I could find with Financials…..

U POWER LTD
FORM 6-K
(Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16)
Filed 10/10/23 for the Period Ending 06/30/23

https://www.otcmarkets.com/filing/conv_pdf?id=16981316&guid=Rvd-kFYs56YKJth
👍️0
abrooklyn abrooklyn 3 months ago
Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

Source: Edgar (US Regulatory)


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2024

Commission File Number: 001-41679

U Power Limited

2F, Zuoan 88 A, Lujiazui,
Shanghai, People’s Republic of China
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ? Form 40-F ?






In connection with the 2024 Extraordinary General Meeting of Shareholders of U Power Limited, a company incorporated under the laws of the Cayman Islands (the “Company”), the Company hereby furnishes the following documents:

Exhibits

Exhibit No. Description

99.1 Notice and Proxy Statement of 2024 Extraordinary General Meeting of Shareholders, dated March 5, 2024, to be mailed to the shareholders of the Company in connection with the 2024 Extraordinary General Meeting of Shareholders of the Company
99.2 Form of Proxy Card to be mailed to shareholders of the Company for use in connection with the 2024 Extraordinary General Meeting of Shareholders of the Company

1


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: March 5, 2024

U Power Limited

By: /s/ Jia Li
Name: Jia Li
Title: Chief Executive Officer


2


Exhibit 99.1

U POWER LIMITED
Notice of 2024 Extraordinary General Meeting of Shareholders
To Be Held on March 25, 2024 at 10:30 a.m. EST

NOTICE IS HEREBY GIVEN THAT the extraordinary general meeting (the “Meeting”) of holders of ordinary shares (the “Ordinary Shares”) (the “shareholders”) of U Power Limited (the “Company”) will be held at 2F, Zuoan 88 A, Lujiazui, Shanghai, People’s Republic of China, on March 25, 2024 at 10:30 a.m. EST, with the ability given to the shareholders to join virtually via live audio webcast at www.virtualshareholdermeeting.com/UCAR2024. Registered shareholders, directors, as well as duly appointed proxyholders will be able to attend, participate and vote at the Meeting .

The Meeting and any or all adjournments thereof will be held to consider and vote on the following ordinary resolution that:

(i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company’s issued and unissued share capital be consolidated into one Ordinary Share with a par value of US$0.00001 each (the “Share Consolidation”), so that immediately following the Share Consolidation, the authorised share capital of the Company shall be changed

FROM US$50,000 divided into 500,000,000,000 Ordinary Shares of par value of US$0.0000001 each

TO US$50,000 divided into 5,000,000,000 Ordinary Shares of par value of US$0.00001 each;

(ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.

The foregoing items are described in the proxy statement accompanying this notice. The board of directors of the Company (the “Board of Directors”) unanimously recommends that the shareholders vote “FOR” for this proposal.

The Board of Directors has fixed the close of business on March 4, 2024 as the record date (the “Record Date”) for determining the shareholders entitled to receive notice of and to vote at the Meeting or any adjournment thereof. Only the shareholders on the Record Date are entitled to receive notice of and to vote at the Meeting or any adjournment thereof.

Shareholders may obtain a copy of the proxy materials from the Company’s website at https://ir.upincar.com/corporate.html.

Each shareholder who is entitled to attend and vote at the Meeting is entitled to appoint one or more proxies to attend and vote instead of that shareholder, and a proxyholder need not be a shareholder.

Management is soliciting proxies. Shareholders who are unable to attend the Meeting or any adjournment thereof and who wish to ensure that their Ordinary Shares will be voted are requested to complete, date and sign the enclosed form of proxy in accordance with the instructions set out in the form of proxy and in the proxy statement accompanying this Notice and vote it (i) online at www.proxyvote.com, (ii) by phone at 1-800-690-6903, or (iii) by mail to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.

For the proxy to be valid, the duly completed and signed form of proxy must be received on or before 11:59 p.m. EST the day before the date of Meeting or any adjournment of the Meeting. A shareholder may appoint as his, her or its proxy a person other than those named in the enclosed form of proxy. For the avoidance of doubt, the proxy need not be a shareholder of the Company.

By Order of the Board of Directors,

/s/ Jia Li
Jia Li
Chairman of the Board of Directors

Shanghai, China

March 5, 2024




U POWER LIMITED
Extraordinary General Meeting of Shareholders
March 25, 2024
10:30 a.m. EST

PROXY STATEMENT

The board of directors (the “Board of Directors”) of U Power Limited (the “Company”) is soliciting proxies for the extraordinary general meeting of shareholders (the “Meeting”) of the Company to be held on March 25, 2024 at 10:30 a.m. EST. The Company will hold the Meeting at 2F, Zuoan 88 A, Lujiazui, Shanghai, People’s Republic of China. Shareholders will be able to attend in person and via live audio webcast online at www.virtualshareholdermeeting.com/UCAR2024.

Registered shareholders and duly appointed proxyholders will be able to attend, participate and vote at the Meeting in real time. Beneficial shareholders who hold their ordinary shares of the Company (the “Ordinary Shares”) through a broker, investment dealer, bank, trust corporation, custodian, nominee, or other intermediary who have not duly appointed themselves as proxyholder will be able to attend as guest, but will not be able to participate in or vote at the Meeting.

Only holders of the Ordinary Shares of the Company of record at the close of business on March 4, 2024 (the “Record Date”) are entitled to attend and vote at the Meeting or at any adjournment thereof. Members holding Ordinary Shares that represent not less than one-third (1/3) of the issued Ordinary Shares carrying the right to vote at the Meeting shall form a quorum.

Any shareholder entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and vote on such shareholder’s behalf. A proxy need not be a shareholder of the Company. Each holder of the Company’s Ordinary Shares shall be entitled to one vote in respect of each Ordinary Share held by such holder on the Record Date.

After carefully reading and considering the information contained in this proxy statement, please vote your shares as soon as possible so that your shares will be represented at the Meeting. Please follow the instructions set forth on the proxy card or on the voting instruction form provided by the record holder if your shares are held in the name of your broker or other nominee.

PROPOSAL TO BE VOTED ON

At the Meeting, an ordinary resolution will be proposed that:

(i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company’s issued and unissued share capital be consolidated into one Ordinary Share with a par value of US$0.00001 each (the “Share Consolidation”), so that immediately following the Share Consolidation, the authorised share capital of the Company shall be changed

FROM US$50,000 divided into 500,000,000,000 Ordinary Shares of par value of US$0.0000001 each

TO US$50,000 divided into 5,000,000,000 Ordinary Shares of par value of US$0.00001 each;

(ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.

The Board of Directors recommends a vote “FOR” the proposal.

VOTING PROCEDURE FOR HOLDERS OF ORDINARY SHARES

Shareholders entitled to vote at the Meeting may do so at the Meeting. Shareholders who are unable to attend the Meeting or any adjournment thereof and who wish to ensure that their Ordinary Shares will be voted are requested to complete, date and sign the enclosed form of proxy in accordance with the instructions set out in the form of proxy and in the proxy statement accompanying this Notice and vote it (i) online at www.proxyvote.com, (ii) by phone at 1-800-690-6903, or (iii) by mail to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.

ANNUAL REPORT TO SHAREHOLDERS

Pursuant to Nasdaq’s Marketplace Rules which permit companies to make available their annual report to shareholders on or through the company’s website, the Company posts its annual reports on the Company’s website. The Company adopted this practice to avoid the considerable expense associated with mailing physical copies of such report to record holders. You may obtain a copy of our annual report to shareholders by visiting the “SEC Filings” heading under the “Financials & Filings” section of the Company’s website at https://ir.upincar.com/corporate.html. If you want to receive a paper or email copy of the Company’s annual report to shareholders, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy to the Investor Relations Contact of the Company, at UPower.IR@ICRinc.com.

2


PROPOSAL NO. 1

APPROVAL OF THE SHARE CONSOLIDATION OF THE COMPANY’S ORDINARY SHARES

General

The Board of Directors believes that it is in the best interest of the Company and the shareholders, and is hereby soliciting shareholder approval, to effect a share consolidation of the Company’s Ordinary Shares at a ratio of one-for-one hundred, the authorised share capital of the Company be amended from US$50,000 divided into 500,000,000,000 Ordinary Shares of US$0.0000001 each to US$50,000 divided into 5,000,000,000 Ordinary Shares of US$0.00001 each, so that every shareholder holding 100 Ordinary Shares of US$0.0000001 each will hold 1 Ordinary Share of US$0.00001 upon the consolidation taking effect, such consolidated shares having the same rights and being subject to the same restrictions (same as to nominal value) as the existing Ordinary Shares of US$0.0000001 each in the capital of the Company as set out in the Company’s articles of association (the “Share Consolidation”), on the effective date of March 31, 2024.

The Share Consolidation must be passed by ordinary resolution which requires the affirmative vote of a simple majority of the votes cast at the Meeting by the shareholders present in person or represented by proxy and entitled to vote at the Meeting.

The Share Consolidation will be implemented simultaneously for all Ordinary Shares. The Share Consolidation will affect all shareholders uniformly and will have no effect on the proportionate holdings of any individual shareholder, with the exception of adjustments related to the treatment of fractional shares (see below).

Purpose of the Share Consolidation

The Company’s Ordinary Shares are currently listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “UCAR.” Among other requirements, the listing maintenance standards established by Nasdaq require the Ordinary Shares to have a minimum closing bid price of at least $1.00 per share. Pursuant to the Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Rule”), if the closing bid price of the Ordinary Shares is not equal to or greater than $1.00 for 30 consecutive business days, Nasdaq will send a deficiency notice to the Company. Thereafter, if the Ordinary Shares do not close at a minimum bid price of $1.00 or more for 10 consecutive business days within 180 calendar days of the deficiency notice, Nasdaq may determine to delist the Ordinary Shares.

On January 13, 2024, the Company received a written notification from the Nasdaq Stock Market LLC notifying the Company that it was not in compliance with the Minimum Bid Price Rule, and the Company was provided 180 calendar days, or until July 17, 2024, to regain compliance.

Furthermore, according to Nasdaq Marketplace Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”), if the Ordinary Shares have a closing bid price of $0.10 or less for ten consecutive trading days during the 180-day period, Nasdaq will determine to delist the Ordinary Shares.

On February 14, 2024, the Company received a determination from the Nasdaq Stock Market LLC notifying the Company that it was not in compliance with the Low Priced Stocks Rule. As a result, the Ordinary Shares would be delisted from the Nasdaq Capital Market and trading of the Ordinary Shares would be suspended at the opening of business on February 23, 2024, unless the Company requested an appeal of this determination.

Accordingly, the Company requested an appeal of this determination on February 21, 2024, and the delisting has been stayed, pending a final written decision by the Nasdaq Hearings Panel. On February 21, 2024, the Company was notified that a hearing regarding the Company’s appeal will be held on April 18, 2024.

To regain compliance with both the Minimum Bid Price Rule and the Low Priced Stocks Rule, the Board of Directors determined that it was in the best interest of the Company to solicit the approval of the shareholders to effect the Share Consolidation.

3


In the event the Ordinary Shares were no longer eligible for continued listing on Nasdaq, the Company could be forced to seek to trade its Ordinary Shares on the OTC Bulletin Board or in the “pink sheets.” These alternative markets are generally considered to be less efficient than, and not as broad as, Nasdaq, and therefore less desirable. Accordingly, the Board of Directors believes delisting of the Ordinary Shares would likely have a negative impact on the liquidity and market price of the Ordinary Shares and may increase the spread between the “bid” and “ask” prices quoted by market makers.

The Board of Directors has considered the potential harm to the Company of a delisting from Nasdaq and believes that delisting could, among other things, adversely affect (i) the trading price of the Ordinary Shares; and (ii) the liquidity and marketability of the Ordinary Shares. This could reduce the ability of holders of the Ordinary Shares to purchase or sell Ordinary Shares as quickly and as inexpensively as they have done historically. Delisting could also adversely affect the Company’s relationships with customers and suppliers who may perceive the Company’s business less favorably, which would have a detrimental effect on the Company’s relationships with these entities.

Furthermore, if the Ordinary Shares were no longer listed on Nasdaq, it may reduce the Company’s access to capital and cause the Company to have less flexibility in responding to its capital requirements. Certain institutional investors may also be less interested or prohibited from investing in the Ordinary Shares, which may cause the market price of the Ordinary Shares to decline.

Registration and Trading of our Ordinary Shares

The Share Consolidation will not affect the registration of the Ordinary Shares or the Company’s obligation to publicly file financial statements and other information with the U.S. Securities and Exchange Commission. When the Share Consolidation is implemented, the Ordinary Shares will begin trading on a post-split basis on the effective date. In connection with the Share Consolidation, the CUSIP number of the Ordinary Shares (which is an identifier used by participants in the securities industry to identify our Ordinary Shares) will change.

Fractional Shares

No fractional shares shall be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.

Authorized Shares

At the time the Share Consolidation is effective, the authorized Ordinary Shares will be consolidated at the same ratio. The authorized Ordinary Shares of the Company shall be decreased from 500,000,000,000 Ordinary Shares of US$0.0000001 each to 5,000,000,000 Ordinary Shares of US$0.00001 each.

Street Name Holders of Ordinary Shares

The Company intends for the Share Consolidation to treat shareholders holding Ordinary Shares in street name through a nominee (such as a bank or broker) in the same manner as shareholders whose shares are registered in their names. Nominees will be instructed to effect the Share Consolidation for their beneficial holders. However, nominees may have different procedures. Accordingly, shareholders holding Ordinary Shares in street name should contact their nominees.

Share Certificates

Mandatory surrender of certificates is not required by our shareholders. The Company’s transfer agent will adjust the record books of the Company to reflect the Share Consolidation as of the Effective Date. New certificates will not be mailed to shareholders.

4


Resolutions

The Board of Directors proposes to solicit shareholder approval to effect the Share Consolidation of the Ordinary Shares at a ratio of one-for-one hundred in the form of a shareholder resolution. The resolution to be put to the shareholders to consider and vote upon at the Meeting is the following:

It is resolved as an ordinary resolution that:

(i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company’s issued and unissued share capital be consolidated into one Ordinary Share with a par value of US$0.00001 each (the “Share Consolidation”), so that immediately following the Share Consolidation, the authorised share capital of the Company shall be changed

FROM US$50,000 divided into 500,000,000,000 Ordinary Shares of par value of US$0.0000001 each

TO US$50,000 divided into 5,000,000,000 Ordinary Shares of par value of US$0.00001 each;

(ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.

The proposal will be approved if a simple majority of the total votes duly cast in person or by proxy at the Meeting “FOR” the proposal. Abstentions and broker non-votes will have no effect on the result of the vote.


THE BOARD OF DIRECTORS RECOMMENDS
A VOTE FOR
THE SHARE CONSOLIDATION.

5


OTHER MATTERS

The Board of Directors is not aware of any other matters to be submitted to the Meeting. If any other matters properly come before the Meeting, it is the intention of the persons named in the enclosed form of proxy to vote the shares they represent as the Board of Directors may recommend.

By order of the Board of Directors

March 5, 2024
/s/ Jia Li
Jia Li
Chairman of the Board of Directors


6


Exhibit 99.2

THIS PROXY IS SOLICITED ON BEHALF OF
THE BOARD OF DIRECTORS OF
U POWET LIMITED
FOR THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
TO BE HELD ON MARCH 25, 2024

The undersigned shareholder of U Power Limited, a Cayman Islands company (the “Company”), hereby acknowledges receipt of the Notice of Extraordinary General Meeting of shareholders (the “Meeting”) and the Proxy Statement, each dated March 5, 2024, and hereby appoints ____________________________________ of _______________________________ or, if no person is otherwise specified, the chairman of the Meeting, as proxy, with full power of substitution, on behalf and in the name of the undersigned, to represent the undersigned at the Meeting of the Company to be held on March 25, 2024 at 10:30 a.m. EST, at 2F, Zuoan 88 A, Lujiazui, Shanghai, People’s Republic of China, with the ability given to the shareholders to join virtually via live audio webcast at www.virtualshareholdermeeting.com/UCAR2024, and to vote all ordinary shares which the undersigned would be entitled to vote if then and there personally present, on the matters set forth below (i) as specified by the undersigned below and, (ii) in the discretion of any proxy, if no specification is made below and/or upon such other business as may properly come before the Meeting, as set forth in the Notice of the Meeting and in the Proxy Statement furnished herewith.

This proxy when properly executed will be voted in the manner directed herein by the undersigned shareholder. If no direction is made and the chairman of the Meeting is appointed as proxy, this proxy will be voted FOR the proposal that:

(i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company’s issued and unissued share capital be consolidated into one ordinary share with a par value of US$0.00001 each (the “Share Consolidation”), so that immediately following the Share Consolidation, the authorised share capital of the Company shall be changed

FROM US$50,000 divided into 500,000,000,000 Ordinary Shares of par value of US$0.0000001 each

TO US$50,000 divided into 5,000,000,000 Ordinary Shares of par value of US$0.00001 each;

(ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.

This proxy should be marked, dated, and signed by the shareholder exactly as his or her name appears on the share certificate and be returned promptly in the enclosed envelope to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. For the proxy to be valid, the duly completed and signed form of proxy must be received on or before 11:59 p.m. Eastern Time the day before the date of Meeting or any adjournment of the Meeting. Any person signing in a fiduciary capacity should so indicate. If shares are held by joint tenants or as community property, both should sign.

Please date, sign, and mail this
proxy card back as soon as possible.




DETACH PROXY CARD HERE
Mark, sign, date and return this proxy card promptly
using the enclosed envelope.


Votes must be indicated
(x) in Black or Blue ink.

FOR AGAINST ABSTAIN

PROPOSAL NO. 1:
It is resolved as an Ordinary Resolution that:
(i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company’s issued and unissued share capital be consolidated into one ordinary share with a par value of US$0.00001 each (the “Share Consolidation”), so that immediately following the Share Consolidation, the authorised share capital of the Company shall be changed

FROM US$50,000 divided into 500,000,000,000 Ordinary Shares of par value of US$0.0000001 each

TO US$50,000 divided into 5,000,000,000 Ordinary Shares of par value of US$0.00001 each;

(ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.
? ? ?

This proxy card must be signed by the person registered in the register of members at the close of business on March 4, 2024. In the case of a shareholder that is not a natural person, this proxy card must be executed by a duly authorized officer or attorney of such entity.

Share Owner signs here Co-Owner signs here

Date:





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shurtha2000 shurtha2000 3 months ago
How much cash does this company have
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abrooklyn abrooklyn 3 months ago
Proposal(s)

For holders as of Monday, March 4, 2024. Votes can be changed until the voting deadline.
Make your selections below, using the options on the right side of the page.

It is resolved as an Ordinary Resolution that: (i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company's issued and unissued share capital be consolidated into one Ordinary Share with a par value of US$0.00001 each (the "Share Consolidation"), (ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares resulting from the Share Consolidation shall instead be rounded up to the whole number of shares.

Board Recommendation:For

1.
It is resolved as an Ordinary Resolution that: (i) effective on March 31, 2024, every 100 Ordinary Shares with a par value of US$0.0000001 each in the Company's issued and unissued share capital be consolidated into one Ordinary Share with a par value of US$0.00001 each (the "Share Consolidation"), (ii) no fractional shares shall be issued in connection with the Share Consolidation and all fractional shares resulting from the Share Consolidation shall instead be rounded up to the whole number of shares
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mick mick 3 months ago
UCAR
U Power Ltd
0.0516
-0.0079 (-13.28%)
Volume: 16,146,523
Day Range: 0.0505 - 0.059
Last Trade Time: 6:16:07 PM EDT
Delayed by 15 minutes
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linkvest linkvest 4 months ago
Need some volume this afternoon
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linkvest linkvest 4 months ago
Nice info..... https://www.trendhunter.com/trends/chassis-platform
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PennyPusher786 PennyPusher786 4 months ago
Sounds realistic
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linkvest linkvest 4 months ago
Nice trading today..
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linkvest linkvest 4 months ago
Folks are Slapping the Chit out of this stock. It has to run out of the ASK soon and then off to the races...
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linkvest linkvest 4 months ago
This BS MM manipulation should be illegal here. MM are not showing all their cards sitting on the ASK..
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linkvest linkvest 4 months ago
ASK is about to give out in trying to hold this down.,..... Super thin from there on.
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drumkids drumkids 4 months ago
BREAKOUT!!!!
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linkvest linkvest 4 months ago
This stock in just two months ago was about $2 a share. Has plenty of cash and about 80 million in assets. With a good PR this stock would run to $2 IMO pretty quickly..
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linkvest linkvest 4 months ago
if appropriate..... there is only about 192 million outstanding shares now...In comparison is really low and doubt they would RS.
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Lilman72003 Lilman72003 4 months ago
The Company intends to monitor the closing bid price of its ordinary shares and may, if appropriate, consider implementing available options, including a reverse share split, to regain compliance with the Nasdaq Listing Rules for continued listing on Nasdaq.

RS is a possibility
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WHITTENHALLJR WHITTENHALLJR 4 months ago
Thanks… let’s see how it plays out >> exciting position $UCAR
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linkvest linkvest 4 months ago
No predictions yet lol... been keeping my eyes open for any news or PRs. Some are suggestion a RS... I don't see that anywhere being on the table. the OS is only 191,423,6871 for crying out loud. That squat for a OS limit. We all seen what they can do with the right NEWS or PR issued. This thing is ready to explode with the right news. Plenty of cash and a great team. I expect great things from this company soon.
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KeepItRealistic KeepItRealistic 4 months ago
$UCAR With the new OS of 191m and a close of .0715

Market Cap is now 13.65m

To think this ticker ran to a $3.9 billion Market Cap ($75.00) with 52m shares in the OS on the IPO day of April 20th, 2023 is just mind boggling…

Our Market Cap seems a tad low in comparison even with the dilution from warrants on last offering…

However the RS fears are now replacing the delisting fears

In order to satisfy the .10+ compliance rule the company will likely do an RS soon


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KeepItRealistic KeepItRealistic 4 months ago
.10+ rule takes precedence over $1+ rule
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KeepItRealistic KeepItRealistic 4 months ago
How long does it take to get an appeal hearing ?

And it depends on whether they decide to do an RS before or after the hearing I guess

New OS is 191 per filing below as of Feb 13th

https://www.otcmarkets.com/filing/html?id=17274433&guid=qVd-keKroLDWJth

”Percentage of class is calculated based on 191,243,671 ordinary shares outstanding as of February 13, 2024, which information was provided by the Issuer to the Reporting Persons on February 13, 2024.”
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WHITTENHALLJR WHITTENHALLJR 4 months ago
Any predictions for next week? $UCAR
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Camtheman96 Camtheman96 4 months ago
Ok we got the merger news, why is this not roaring?
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Klinsmann Klinsmann 4 months ago
The day when anyone is so drunk to call you kind lol
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linkvest linkvest 4 months ago
TODAYS NEWS NEWS NEWS> U Power Limited Enters into a Memorandum of Understanding with Durapower Holdings Pte Ltd.

U Power Limited (UCAR) announces a partnership with Durapower Holdings to explore battery swapping technology applications for various transportation sectors. The collaboration aims to establish a 'battery banking' business model and promote technology awareness.

Market Research Analyst
The Memorandum of Understanding between U Power and Durapower signals a strategic move into the burgeoning EV battery sector, a market with significant growth projections. Joint exploration in battery swapping technology for a range of vehicles positions the companies at the forefront of addressing the pain points in EV operations, such as downtime for charging and battery lifecycle management. This partnership could enhance U Power's competitive edge in the Chinese EV market and potentially increase its market share.

Furthermore, the intent to establish a 'battery banking' business model may indicate a shift towards service-oriented revenue streams, which could lead to more stable and recurring income. By leveraging intelligent battery swapping technology, U Power could capitalize on efficiency gains and cost reductions for its clients, enhancing customer retention and satisfaction.


Financial Analyst
This MOU could have financial implications for U Power, particularly if the collaboration leads to successful technology development and deployment. Investors might anticipate potential future revenue growth from the new business segments and marketing efforts in Singapore and beyond. The announcement may also affect the company's stock as the market reacts to the potential expansion of services and technology advancements.

However, the financial impact will depend on the companies' ability to follow through on the MOU's intentions and convert them into binding agreements with clear profit-sharing structures. Investors should monitor the progress of this collaboration closely, looking for signs of effective integration of Durapower's technologies with U Power's service offerings.


Energy Sector Analyst
The collaboration between U Power and Durapower aligns with the global shift towards greener transportation solutions. Battery swapping technology is a promising area that could address range anxiety and long charging times associated with electric vehicles. If successful, this technology could significantly reduce the barriers to EV adoption, contributing to a larger shift away from fossil fuels.

Moreover, the application of battery swapping in ships and mining trucks indicates a broader industrial application beyond passenger vehicles, potentially opening up new markets. The environmental benefits of reducing emissions in these sectors are substantial and advancements in these areas could set industry standards and influence regulatory policies.

02/23/2024 - 04:00 AM
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linkvest linkvest 4 months ago
Thinking .11 today with this kind of volume and Buying
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WHITTENHALLJR WHITTENHALLJR 4 months ago
$UCAR LOOKING GREAT TODAY >> hello NASDAQ here we come
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linkvest linkvest 4 months ago
81s up and printing
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linkvest linkvest 4 months ago
The buys are still are outpacing the sells.. see charts here https://ih.advfn.com/stock-market/NASDAQ/u-power-UCAR/trades
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linkvest linkvest 4 months ago
8s back up in a few minutes
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linkvest linkvest 4 months ago
Back up we go.. The bounce is in .. 16.67% with 54.4 million shares traded
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linkvest linkvest 4 months ago
I try to be nice to you but your such an asshole that I have to put you on my asshole ignore list... Have great life dirt bag.
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Klinsmann Klinsmann 4 months ago
Golden cross. You‘re really more stupid than I thought! Buy all you can. Buy, and play the board smart ass! Everyone loves you!!!
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WHITTENHALLJR WHITTENHALLJR 4 months ago
Don’t we have to get back to a dollar?
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linkvest linkvest 4 months ago
BUYS are pulling ahead further now.... https://ih.advfn.com/stock-market/NASDAQ/u-power-UCAR/trades
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