U Power (UCAR)
Provides modular battery-swapping stations, controls, and data services for commercial electric vehicles.
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Sells battery-swapping stations and earns service and sourcing fees through its UOTTA platform for commercial electric vehicles. Operations combine station assembly, control and data systems, and manufacturer partnerships because only compatible vehicles can use the network.
Combines UOTTA-compatible battery-swapping stations, controls, a data-management platform, and swapping services for commercial electric vehicles. Titan serves heavy trucks; Chipbox targets light trucks, logistics vehicles, ride-hailing cars, and taxis. Station product sales remain the primary revenue source, alongside vehicle-sourcing commissions and swapping services.
Works with OEM partners to adapt vehicle models rather than manufacturing whole vehicles. At its Zibo factory, procured components are assembled into stations while the company supplies control and data capabilities; stations can be sold to customers or operated under service arrangements. China remains its asset and engineering base, with activity extending to Thailand, Hong Kong, Southern Europe, and Peru.
Depends on compatible EV models, fleet adoption, station availability, partners, and local approvals because no unified battery standard exists. The publicly traded shares are in a Cayman holding company, while material operations are conducted through subsidiaries.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Dec 31, 2025Cash & short-term investments $3.3M · Total debt $3.7M · Total assets $56.6M · Shareholders' equity $40.5M
- Revenue
- $491.0K
- Operating income
- −$856.4K
- Net income
- −$980.5K
Reported in CNY, converted at the latest exchange rate
No dividends on record.
2.2K ADS as of Sep 9, 2026 · holders as of their latest filing
The share count is from the company's Dec 2024 annual report; nothing newer is on file here.
Some positions are filed in underlying shares, not receipts; the ratio is unknown, so no percentage.
1 position filed across a stock split leaves its adjustment unstated and stays out of the bar.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Arena Investors LPInstitution | —5.40% of class, as filed | — | filed May 15, 2026 |
Bank of America Corp /DE/Strategic | —6.30% of class, as filed | — | filed May 14, 2026 |
Big Benefit Ltd.Institution | —15.03% of class, as filed | — | filed Oct 15, 2024 |
Zhao Bingyi1Insiderdirector, officer: Chief Financial Officer | — | — | filed May 20, 2026 |
Fortune Light Assets Ltd.Institution | —13.98% of class, as filed | — | filed Oct 15, 2024 |
- Filed after the 1-for-10 reverse split, Apr 1, 2026, with the count's adjustment unstated. Not in the bar.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 6, 2026 | Li Jia | director, officer: Chief Executive Officer | +1,829,269 | $1.64 |
