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U Power Limited develops, manufactures, and sells new energy vehicles and battery swapping stations in the People's Republic of China. It also offers battery swapping and sourcing services. The company was founded in 2013 and is based in Shanghai, the People's Republic of China.

U Power Limited

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BANGKOK, JUNE 1, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) ("U POWER" OR THE "COMPANY"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTAELECTRIC VEHICLE ("EV") BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT HYDRO DATA LIMITED, A U POWER-CONTROLLED JOINT VENTURE ESTABLISHED IN MAY 2026 WITH JIANGSU GUOFU HYDROGEN ENERGY EQUIPMENT CO., LTD. ("GUOFU HYDROGEN ENERGY") AND CLOUD DIGITAL CHAIN LIMITED TO DEVELOP AI-DRIVEN, HYDROGEN-BASED INTEGRATED ENERGY SOLUTIONS FOR DATA CENTERS, INITIALLY IN THAILAND AND WITH PLANS FOR GLOBAL EXPANSION (THE "HYDRO DATA JV"), HAS BEEN NAMED THE RECIPIENT OF THE 2026 "DATA CENTER POWER & ENERGY SOLUTION" DIGITAL INFRASTRUCTURE FORUM AWARD (THE "DIF AWARD").

U POWER HYDRO DATA JOINT VENTURE RECEIVES "DATA CENTER POWER & ENERGY SOLUTION" RECOGNITION AT DIF AWARDS 2026 IN THAILAND

BANGKOK, THAILAND, MAY 27, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) ("U POWER" OR THE "COMPANY"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE ("EV") BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED THAT ITS CONTROLLED JOINT VENTURE, THE HYDRO DATA LIMITED JOINT VENTURE (THE "HYDRO DATA JV"), CEWA GROUP, THE REGIONAL INFRASTRUCTURE DEVELOPER (THE "CEWA GROUP"), AND JIANGSU GUOFU HYDROGEN ENERGY EQUIPMENT CO., LTD., THE HYDROGEN SYSTEMS PROVIDER ("GUOFU HYDROGEN ENERGY"), HAVE ENTERED INTO AN AGREEMENT TO DEVELOP AN INTEGRATED ENERGY SOLUTION FOR A 100MW DATA CENTER ("IDC") PROJECT IN RAYONG, THAILAND (THE "AGREEMENT"), WHICH PROJECT THE COMPANY BELIEVES WILL REPRESENT A KEY MILESTONE IN THE COMPANY'S EXPANSION INTO COMPREHENSIVE ENERGY SOLUTIONS FOR IDCS IN SOUTHEAST ASIA.

U POWER HYDRO DATA JOINT VENTURE SECURES THAILAND DATA CENTER ENERGY PROJECT 3MW PILOT FOR PLANNED 100MW DEPLOYMENT

TRANSITIONING TO A PROVIDER OF SUSTAINABLE MOBILITY AND ENERGY SOLUTIONS BY EXPANDING INTO AI-DRIVEN ENERGY MANAGEMENT SOLUTIONS FOR IDCS SHANGHAI, MAY 15, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, BUILDING ON ITS PROPRIETARY UOTTATM ELECTRIC VEHICLE (EV) BATTERY-SWAPPING TECHNOLOGY, TODAY ANNOUNCED ITS FINANCIAL RESULTS FOR THE FULL YEAR ENDED DECEMBER 31, 2025 ("FY 2025").[1] FY 2025 FINANCIAL HIGHLIGHTS TOTAL REVENUE OF RMB41.1 MILLION (OR $5.9 MILLION), COMPARED TO RMB44.3 MILLION IN THE SAME PERIOD OF 2024.

U POWER REPORTS FINANCIAL RESULTS FOR FULL YEAR OF 2025

SHANGHAI, APRIL 27, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, TODAY ANNOUNCED THAT ON APRIL 27, 2026, IT ENTERED INTO SUBSCRIPTION AGREEMENTS (THE "SUBSCRIPTION AGREEMENTS") WITH TEN PURCHASERS, INCLUDING FOUNDER AND CHIEF EXECUTIVE OFFICER JOHNNY LEE, FOR THE SALE OF 15,670,737 CLASS A ORDINARY SHARES (EACH, A "SHARE" AND COLLECTIVELY, THE "SHARES") OF THE COMPANY AT $1.64 PER SHARE, IN RELIANCE UPON REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "TRANSACTION"). PURCHASERS OF THE SHARES ALSO INCLUDE FORTUNE LIGHT ASSETS LTD, A FAMILY OFFICE OF CHATCHAVAL JIARAVANON AND A MEMBER OF THE CHAROEN POKPHAND GROUP COMPANY (CP GROUP); AS WELL AS GUOFU HYDROGEN ENERGY (HONG KONG) DEVELOPMENT CO., LIMITED (HKSE: 2582), A LEADING INTEGRATED SOLUTIONS PROVIDER FOR THE FULL HYDROGEN ENERGY EQUIPMENT VALUE CHAIN IN CHINA.

U POWER LIMITED ANNOUNCES PRIVATE PLACEMENT OF $25.7 MILLION

SHANGHAI, APRIL 7, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ:UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, TODAY ANNOUNCED THAT ON APRIL 7, 2026, IT ENTERED INTO SUBSCRIPTION AGREEMENTS (THE "SUBSCRIPTION AGREEMENTS") WITH SEVEN PURCHASERS, FOR THE SALE OF 2,900,000 CLASS A ORDINARY SHARES (EACH, A "SHARE" AND COLLECTIVELY, THE "SHARES") OF THE COMPANY AT $1.10 PER SHARE (THE "TRANSACTION"). GROSS PROCEEDS TO THE COMPANY FROM THIS TRANSACTION WILL BE $3,190,000.

U POWER LIMITED SIGNS $3.19 MILLION SUBSCRIPTION AGREEMENTS WITH STRATEGIC INVESTORS

HONG KONG TAXI BATTERY-SWAPPING OPERATIONS EXPECTED TO LAUNCH SOON SHANGHAI, APRIL 2, 2026 /PRNEWSWIRE/ -- U POWER LIMITED, A PROVIDER OF SPECIALIZED SOLUTIONS FOR NEXT-GENERATION ENERGY NETWORKS AND INTELLIGENT TRANSPORTATION SYSTEMS, ANNOUNCED THAT, FOLLOWING ITS SECURING AN ORDER FOR 1,000 BATTERY-SWAPPING HEAVY-DUTY TRUCKS IN THAILAND AND COMPLETING PRODUCTION OF THE FIRST BATCH OF VEHICLES, ITS HONG KONG TAXI BATTERY-SWAPPING PROJECT IS ALSO EXPECTED TO COMPLETE STATION DEPLOYMENT AND COMMENCE OPERATIONS IN THE SECOND QUARTER OF 2026. THIS DEVELOPMENT MARKS A NEW STAGE OF FULL COMMERCIAL ROLLOUT FOR U POWER LIMITED'S BATTERY-SWAPPING BUSINESS FOR COMMERCIAL VEHICLES ACROSS THE ASIAN MARKET.

U POWER LIMITED MAKES MAJOR BREAKTHROUGH IN THAILAND'S HEAVY-DUTY TRUCK BATTERY-SWAPPING MARKET

SHANGHAI, MARCH 20, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ:UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, TODAY ANNOUNCED THE CLOSING OF ITS UNDERWRITTEN PUBLIC OFFERING OF 13,360,000 UNITS, ON A FIRM COMMITMENT BASIS, AT A PRICE TO THE PUBLIC OF $0.449 PER UNIT (THE "OFFERING"). EACH UNIT CONSISTS OF ONE CLASS A ORDINARY SHARE, PAR VALUE $0.00001 PER SHARE (EACH, A "CLASS A ORDINARY SHARE," AND COLLECTIVELY, THE "CLASS A ORDINARY SHARES"), AND ONE CLASS A WARRANT (EACH, A "WARRANT," AND COLLECTIVELY, THE "WARRANTS").

U POWER LIMITED ANNOUNCES CLOSING OF $6.0 MILLION PUBLIC OFFERING

SHANGHAI, MARCH 19, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) (THE "COMPANY" OR "U POWER"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, TODAY ANNOUNCED THE PRICING OF AN UNDERWRITTEN PUBLIC OFFERING OF 13,360,000 UNITS, ON A FIRM COMMITMENT BASIS, AT A PRICE TO THE PUBLIC OF $0.449 PER UNIT. EACH UNIT CONSISTS OF ONE CLASS A ORDINARY SHARE, PAR VALUE $0.00001 PER SHARE (EACH, A "CLASS A ORDINARY SHARE," AND COLLECTIVELY, THE "CLASS A ORDINARY SHARES"), AND ONE CLASS A WARRANT (EACH, A "WARRANT," AND COLLECTIVELY, THE "WARRANTS").

U POWER LIMITED ANNOUNCES PRICING OF $6.0 MILLION PUBLIC OFFERING

THAILAND PILOT DEPLOYMENT TO PROVIDE KEY INSIGHTS FOR GLOBAL BATTERY-SWAPPING TRUCK COMMERCIALIZATION BANGKOK, MARCH 17, 2026 /PRNEWSWIRE/ -- U POWER LIMITED (NASDAQ: UCAR) ("U POWER" OR THE "COMPANY"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, TODAY ANNOUNCED THAT PRODUCTION OF THE FIRST BATCH OF 30 BATTERY-SWAPPING ELECTRIC HEAVY-DUTY TRUCKS DESIGNATED FOR THE THAILAND MARKET HAS BEEN COMPLETED. DELIVERY OF THESE VEHICLES TO THAILAND IS SCHEDULED FOR LATE MAY 2026, WHERE THEY WILL ENTER PILOT DEPLOYMENT AS PART OF THE COMPANY'S STRATEGIC ROLLOUT IN THIS MARKET AND SOUTHEAST ASIA.

U POWER ANNOUNCES COMPLETION OF PRODUCTION OF 30 BATTERY-SWAPPING ELECTRIC HEAVY TRUCKS FOR THAILAND; PILOT SHIPMENT SCHEDULED FOR LATE MAY 2026 AS PART OF 1,000-VEHICLE PLAN

BANGKOK, MARCH 11, 2026 /PRNEWSWIRE/ --U POWER LIMITED (NASDAQ: UCAR) ("U POWER" OR THE "COMPANY"), A PROVIDER OF AI-INTEGRATED SOLUTIONS FOR NEXT-GENERATION ENERGY GRIDS AND INTELLIGENT TRANSPORTATION SYSTEMS, TODAY ANNOUNCED THAT IT HAS SUCCESSFULLY COMPLETED COMPREHENSIVE OPERATIONAL TESTING AND FULL-STACK INTEGRATION OF THE BATTERY-SWAPPING SYSTEM OF HEAVY-DUTY TRUCK PROTOTYPE VEHICLES DESIGNED TO BE DEPLOYED IN THAILAND. THIS MILESTONE MARKS A KEY STEP FORWARD IN U POWER'S COLLABORATION WITH WHALE LOGISTICS (THAILAND) CO., LTD.

U POWER'S ELECTRIC HEAVY TRUCKS PASS COMPREHENSIVE OPERATIONAL TESTING AND FULL-STACK INTEGRATION OF BATTERY-SWAPPING SYSTEM; 1,000 UNITS SET FOR THAILAND ROLLOUT

U Power Limited

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