U Power appoints new independent director Bo Lyu

U Power Limited reports governance changes.

Accepted by SEC EDGAR 07/16/2026 - 04:05 PM EDT Learn about SEC filing dates

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.

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"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 July 2026

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 ☐

Resignation of Independent Director

On June 30, 2026, Jean Christophe Baron Von Pfetten (“Mr. Von Pfetten”) notified U Power Limited (the “Company”) of his resignation as (i) an independent director of the Company, (ii) a member of each of the audit committee, the compensation committee and the nominating and corporate governance committee of the board of directors of the Company (the “Board”), effective June 30, 2026. Mr. Von Pfetten has confirmed that his resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.

Appointment of Independent Director

To fill the vacancy created by the resignation of Mr. Von Pfetten, on June 29, 2026, the Board appointed Bo Lyu (“Mr. Lyu”) to serve as an independent director of the Company, effective July 1, 2026. The Board also appointed Mr. Lyu to serve as a member of each of the audit committee, the compensation committee and the nominating and corporate governance committee of the Board.

The Board has determined that Mr. Lyu qualifies as an independent director of the Company under the applicable rules of the Nasdaq Stock Market and the Securities and Exchange Commission.

Mr. Bo Lyu has served as an independent director of the Company since July 2026. Mr. Lyu has over 10 years of experience in corporate financing and public company management. Mr. Lyu served as financial controller at Building Dreamstar Technology Inc from August 2020 to October 2021. From December 2017 to April 2019, Mr. Lyu served as board secretary at Dragon Victory International Limited (currently known as Metalpha Technology Holding Ltd) (Nasdaq: MATH). From 2014 to August 2017, Mr. Lyu served as board secretary at Hailiang Education Group Inc. (formerly Nasdaq-listed: HLG, prior to its privatization in September 2022). From 2009 to 2013, Mr. Lyu served as investment manager at Hailiang Group Co. Ltd., the then-parent company of Hailiang Education Group Inc., Zhejiang Hailiang Co. Ltd. (SSE Listed: 002203), and Hailiang International Holding Co. Ltd. (HKSE listed: 02336). Mr. Lyu received his master’s degree in finance from Albert-Ludwigs-Universität Freiburg in Germany in 2008 and his bachelor’s degree in international investment from Wuhan University in China in 2001.

There are no family relationships between Mr. Lyu and any director or executive officer of the Company. To the best knowledge of the Company, there is no understanding or arrangement between Mr. Lyu and any other person pursuant to which he was appointed as a director.

In connection with Mr. Lyu’s appointment, on July 1, 2026, the Company entered into an indemnification agreement with Mr. Lyu, pursuant to which the Company agreed to indemnify Mr. Lyu against certain liabilities and expenses incurred in connection with his service as a director of the Company. On July 2, 2026, the Company entered into an independent director agreement with Mr. Lyu, which sets forth the terms and conditions of Mr. Lyu’s service as an independent director of the Company. The foregoing descriptions of the indemnification agreement and the independent director agreement are qualified in their entirety by reference to the full text of such agreements, copies of which are filed as Exhibits 10.2 and 10.1, respectively, to this report on Form 6-K and are incorporated herein by reference.

This report on Form 6-K is hereby incorporated by reference into the registration statements on Form F-3 of the Company (File Nos. 333-296308 and 333-282901) and shall be deemed to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

EXHIBIT INDEX

Exhibit No.		Description
10.1		English Translation of the Independent Director Agreement entered into by and between the Company and Mr. Bo Lyu, dated July 2, 2026
10.2		Indemnification Agreement entered into by and between the Company and Mr. Bo Lyu, dated July 1, 2026

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: July 16, 2026

	U Power Limited
	By:	/s/ Jia Li
	Name:	Jia Li
	Title:	Chief Executive Officer

2

Filing Exhibits & Attachments

2 documents

Agreements & Contracts

• EX-10.1 ENGLISH TRANSLATION OF THE INDEPENDENT DIRECTOR AGREEMENT ENTERED INTO BY AND BE 25.3 KB
• EX-10.2 INDEMNIFICATION AGREEMENT ENTERED INTO BY AND BETWEEN THE COMPANY AND MR. BO LYU 45.1 KB