U Power Limited (NASDAQ: UCAR) names Bo Lyu independent director
Rhea-AI Filing Summary
U Power Limited reports governance changes. On June 30, 2026, independent director Jean Christophe Baron Von Pfetten resigned from the board and its audit, compensation, and nominating and corporate governance committees, stating his decision did not involve any disagreement regarding operations, policies, or practices.
To fill the vacancy, the board appointed Bo Lyu as an independent director effective July 1, 2026, and named him to the same three committees. The board determined he meets independence standards under Nasdaq and SEC rules. Lyu brings over 10 years of experience in corporate financing and public company management.
The company entered into an indemnification agreement with Lyu on July 1, 2026 and an independent director agreement on July 2, 2026 covering his service terms. The 6-K report is incorporated by reference into U Power’s registration statements on Form F-3, File Nos. 333-296308 and 333-282901.
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Key Figures
Resignation effective date: June 30, 2026
Appointment effective date: July 1, 2026
Experience in corporate financing and public company management: over 10 years
+1 more
4 metrics
Resignation effective date
June 30, 2026
Effective date of Jean Christophe Baron Von Pfetten’s resignation from the board and committees
Appointment effective date
July 1, 2026
Effective date of Bo Lyu’s appointment as independent director and committee member
Experience in corporate financing and public company management
over 10 years
Professional experience attributed to Bo Lyu
Year master’s degree completed
2008
Year Bo Lyu received his master’s degree in finance
Key Terms
independent director, audit committee, indemnification agreement, registration statements on Form F-3
4 terms
independent director regulatory
"appointed Bo Lyu to serve as an independent director of the Company"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
audit committee regulatory
"a member of each of the audit committee, the compensation committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
indemnification agreement regulatory
"entered into an indemnification agreement with Mr. Lyu"
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
registration statements on Form F-3 regulatory
"incorporated by reference into the registration statements on Form F-3"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What board change did U Power Limited (UCAR) disclose in July 2026?
U Power Limited reported that independent director Jean Christophe Baron Von Pfetten resigned from the board and its key committees effective June 30, 2026. The company stated his resignation was not due to any disagreement over its operations, policies, or practices.
Who replaced Jean Christophe Baron Von Pfetten on U Power’s (UCAR) board?
The board appointed Bo Lyu as an independent director effective July 1, 2026. He also joined the board’s audit, compensation, and nominating and corporate governance committees, filling the committee roles previously held by Mr. Von Pfetten.
What is Bo Lyu’s background relevant to his role at U Power (UCAR)?
Bo Lyu has over 10 years of experience in corporate financing and public company management, including roles as financial controller and board secretary at multiple listed companies. He holds a master’s degree in finance (2008) and a bachelor’s in international investment (2001).
Did U Power (UCAR) enter agreements with new director Bo Lyu?
Yes. U Power entered into an indemnification agreement with Bo Lyu on July 1, 2026 and an independent director agreement on July 2, 2026, defining liability protection and the terms and conditions of his service as an independent director.
How does this 6-K relate to U Power’s (UCAR) Form F-3 registration statements?
The 6-K report is incorporated by reference into U Power’s Form F-3 registration statements, File Nos. 333-296308 and 333-282901. As a result, the disclosed board and committee changes become part of those registration statements from the 6-K filing date.