Welcome to our dedicated page for U Power SEC filings (Ticker: UCAR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
U Power Limited (NASDAQ: UCAR) files reports with the U.S. Securities and Exchange Commission as a foreign private issuer, providing investors with detailed information on its business, financial performance, and capital markets activities. As a Cayman Islands company with Class A ordinary shares listed on Nasdaq, U Power submits annual reports on Form 20-F and current reports on Form 6-K that cover topics ranging from financial results to corporate actions.
Recent Form 6-K filings referenced by the company include unaudited financial results and an operating and financial review for the six months ended June 30, 2025, as well as information about a registered direct offering and concurrent private placement of Class A ordinary shares and warrants. Another Form 6-K describes changes in the company’s independent auditor, while a separate filing reports the results of the 2025 annual general meeting, including approvals related to voting power of Class B ordinary shares, amended governing documents, and potential share consolidations.
Through these SEC filings, investors can review U Power’s revenue composition from sales of battery-swapping stations, sourcing services, and battery-swapping services, along with discussions of overseas market expansion and operating expenses. Filings also disclose details of securities offerings, use of proceeds, warrant terms, and lock-up agreements, as well as information about auditor changes and any identified material weaknesses.
On this SEC filings page, users can access U Power’s 6-K submissions and related documents as they are made available through EDGAR. AI-powered tools can help summarize lengthy reports, highlight key points from financial statements and operating reviews, and surface information on capital structure changes, offerings, and governance decisions, allowing investors to quickly understand the implications of each UCAR filing.
U Power Limited is updating the timing of its previously announced 10-for-1 consolidation of all authorized, issued and unissued ordinary shares. The share consolidation will now take effect at the start of trading on April 1, 2026, instead of March 30, 2026.
From the opening of trading on April 1, 2026, U Power’s Class A ordinary shares will trade on a post-consolidation basis on the Nasdaq Capital Market under the same ticker “UCAR”, but with a new CUSIP number G9520U124. No fractional shares will be issued; any fractional entitlements will be rounded up so that holders receive a whole share, and no cash will be paid in lieu of fractional shares.
U Power Limited is implementing a 10-for-1 consolidation of all authorized, issued and unissued ordinary shares. After the change, authorized share capital will be 500,000,000 ordinary shares with a par value of US$0.0001, including 399,941,181.2 Class A shares and 100,058,818.8 Class B shares.
From the opening of trading on March 30, 2026, Class A ordinary shares will trade on the Nasdaq Capital Market on a post-consolidation basis under the same symbol “UCAR” but with a new CUSIP G9520U124. Fractional positions will be rounded up to the next whole share, and no cash will be paid for fractional shares.
U Power Limited completed an underwritten follow-on public offering of 13,360,000 Units at $0.449 per Unit, raising approximately $6.0 million in gross proceeds before underwriting discounts and expenses. Each Unit contains one Class A ordinary share and one one-year Class A warrant.
The Class A warrants are immediately exercisable at an initial price of $0.449 per share, with automatic reductions on the 2nd and 5th trading days after closing to 70% and 50% of that price, or $0.3143 and $0.2245 per share, while proportionally increasing the underlying share count so the aggregate exercise price is unchanged. Holders may also use a zero exercise price option to receive twice the number of shares otherwise issuable on a cash exercise, without paying additional cash.
The company granted Maxim Group LLC, the sole underwriter, a 45‑day option to buy up to 2,004,000 additional Class A ordinary shares and/or 2,004,000 additional warrants, and the underwriter partially exercised this option for 1,890,000 warrants. Underwriting discounts equal 7% of the offering’s gross proceeds, and U Power agreed to reimburse up to $100,000 of the underwriter’s expenses.
U Power Limited is offering 13,360,000 Units, each Unit consisting of one Class A Ordinary Share and one Class A warrant, at a public offering price of $0.449 per Unit. Each Warrant is initially exercisable for one share at an exercise price of $0.449, with automatic downward reset adjustments on the 2nd and 5th trading days after closing and a built-in zero cash exercise option that could multiply share issuance on exercise. The zero cash mechanism and resets could allow up to 53,440,000 Class A Ordinary Shares to be issued on a zero-cash basis from the Warrants in the offering, and up to 61,456,000 shares if the underwriter over-allotment Warrants are included. Net proceeds are estimated at approximately $5.23M (or $6.06M with full over-allotment), and the company intends to use $2,517,000 to repay outstanding 2025 Senior Secured Promissory Notes and the remainder for working capital.
U Power Limited agreed with Sabby Volatility Warrant Master Fund to cancel 551,628 outstanding ordinary share purchase warrants issued on July 25, 2025, in exchange for 3,000,000 new Class A ordinary shares. The cancellation terminates all warrant rights, including reset features. The company will deliver 500,000 shares via DWAC or DRS by March 18, 2026 to meet the holder’s liquidity needs, with remaining shares issued subject to a 9.99% beneficial ownership cap. After all shares are issued, U Power will have 7,603,440 Class A and 368,044 Class B ordinary shares outstanding. The exchange relies on a Section 3(a)(9) registration exemption, with no commissions paid.
U Power Limited files a registration to offer 9,090,909 Units, each Unit consisting of one Class A Ordinary Share or one Pre-funded Warrant and one Class A Warrant.
Each Unit is shown at an assumed public offering price of $0.66 per Unit. The Warrants include reset mechanics and a zero-cash exercise option that could permit issuance of up to 36,363,636 Class A Ordinary Shares on a zero-cash basis (and up to 41,818,180 Class A Ordinary Shares if the over-allotment Warrants are included). The prospectus discloses ordinary shares outstanding immediately before this offering of 4,603,440 Class A Ordinary Shares and 368,044 Class B Ordinary Shares.
U Power Limited files a registered offering of 4,580,152 Units. Each Unit consists of one Class A Ordinary Share (par value $0.00001) or one pre-funded warrant to purchase one Class A Ordinary Share, plus one Class A Warrant. The prospectus uses an assumed public offering price of $1.31 per Unit.
The Warrants include downward Reset mechanisms on the 4th and 8th trading days and a zero cash exercise option that could result in issuance of up to 18,320,608 Class A Ordinary Shares on a zero-cash basis (and up to 21,068,696 shares including the Representative’s over-allotment option). The company estimates net proceeds of approximately $5.23 million (assuming sale of all Units) and intends to apply $2,517,000 to repay outstanding 2025 Senior Secured Promissory Notes and use the remainder for working capital.
U Power Limited reported a change in its independent auditor. The board’s audit committee recommended, and the board approved, replacing HHL LLP with HCL, PLLC as the company’s independent auditor, effective January 13, 2026.
HHL had performed a limited review of U Power’s interim financial statements for the six months ended June 30, 2025. The company states there were no disagreements with HHL on accounting principles, financial statement disclosure, or auditing scope or procedures during that period. U Power also states it did not consult HCL on accounting or audit matters before the engagement. HHL sent a letter dated January 27, 2026 to the U.S. Securities and Exchange Commission confirming its agreement with the company’s description of the change as it relates to HHL.
U Power Limited reported the results of its 2025 annual general meeting, where shareholders approved a series of potential reverse share consolidations that the board may implement at its discretion. The first consolidation would combine each 10 ordinary shares of par value US$0.00001 into 1 share of par value US$0.0001, and could be used when the Class A share price is below US$1.00. After that, if needed, a second consolidation could combine each 20 ordinary shares of par value US$0.0001 into 1 share of par value US$0.002, and a third could combine each 20 ordinary shares of par value US$0.002 into 1 share of par value US$0.04, again tied to a sub-US$1.00 price or board decision. Across all consolidations, no fractional shares will be issued; any fractions, after aggregation per holder, will be rounded up to the nearest whole share.