U Power CEO discloses indirect share holdings

U Power Ltd director and CEO Jia Li filed an initial ownership report showing indirect holdings of both Class A and Class B ordinary shares.

Rhea-AI Filing Summary

U Power Ltd director and CEO Jia Li filed an initial ownership report showing indirect holdings of both Class A and Class B ordinary shares. The shares are held through three British Virgin Islands companies that are each 100% owned by Li, giving him indirect exposure to the company’s equity.

U Trend Limited holds 10,500 Class A ordinary shares and 147,359 Class B ordinary shares. Upincar Limited holds 149,435 Class B ordinary shares, and U Create Limited holds 71,250 Class B ordinary shares. These entries reflect existing positions rather than new market transactions.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Jia Li

Role Chief Executive Officer

Type	Security	Shares	Price	Value
holding	Class A ordinary shares	--	--	--
holding	Class B ordinary shares	--	--	--
holding	Class B ordinary shares	--	--	--
holding	Class B ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 10,500 shares (Indirect, By U Trend Limited); Class B ordinary shares — 147,359 shares (Indirect, By U Trend Limited); Class B ordinary shares — 149,435 shares (Indirect, By Upincar Limited); Class B ordinary shares — 71,250 shares (Indirect, By U Create Limited)

Footnotes (4)

1. F1. Represents 10,500 Class A ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li.
2. F2. Represents 147,359 Class B ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li.
3. F3. Represents 149,435 Class B ordinary shares held by Upincar Limited, a British Virgin Islands company 100% owned by Mr. Jia Li.
4. F4. Represents 71,250 Class B ordinary shares held by U Create Limited, a British Virgin Islands company 100% owned by Mr. Jia Li.

Key Figures

Indirect Class A shares via U Trend Limited: 10,500 shares Indirect Class B shares via U Trend Limited: 147,359 shares Indirect Class B shares via Upincar Limited: 149,435 shares +1 more

4 metrics

Indirect Class A shares via U Trend Limited 10,500 shares Class A ordinary shares held by U Trend Limited

Indirect Class B shares via U Trend Limited 147,359 shares Class B ordinary shares held by U Trend Limited

Indirect Class B shares via Upincar Limited 149,435 shares Class B ordinary shares held by Upincar Limited

Indirect Class B shares via U Create Limited 71,250 shares Class B ordinary shares held by U Create Limited

Key Terms

Class A ordinary shares, Class B ordinary shares, indirect ownership, British Virgin Islands company

4 terms

Class A ordinary shares financial

"Represents 10,500 Class A ordinary shares held by U Trend Limited"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

Class B ordinary shares financial

"Represents 147,359 Class B ordinary shares held by U Trend Limited"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

indirect ownership financial

"total_shares_following_transaction ... ownership_type: "indirect", ownership_code: "I""

British Virgin Islands company financial

"U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li"

FAQ

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

What does Jia Li’s Form 3 filing for UCAR show about his holdings?

The Form 3 filing shows Jia Li’s indirect ownership of U Power Ltd via three wholly owned British Virgin Islands companies, holding Class A and Class B ordinary shares that represent his existing equity position rather than new trades.

How many UCAR Class A shares are indirectly held by Jia Li?

Jia Li indirectly holds 10,500 Class A ordinary shares of U Power Ltd through U Trend Limited, a British Virgin Islands company that is 100% owned by him, according to the Form 3 ownership disclosure footnotes.

How many UCAR Class B shares are reported as indirectly owned by Jia Li?

The filing reports indirect ownership of 71,250 Class B shares via U Create Limited, 149,435 Class B shares via Upincar Limited, and 147,359 Class B shares via U Trend Limited, all entities wholly owned by Jia Li.

Are Jia Li’s UCAR shares held directly or through other entities?

All reported UCAR shares are held indirectly through U Create Limited, Upincar Limited, and U Trend Limited, each a British Virgin Islands company that the footnotes state is 100% owned by Jia Li, rather than being held in his personal name.

Does Jia Li’s UCAR Form 3 indicate recent share purchases or sales?

The Form 3 lists holdings rather than trades, with no buy or sell codes and a neutral net buy/sell direction. It functions as an initial ownership snapshot, not as a record of recent market transactions in UCAR shares.

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

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Accepted by SEC EDGAR 05/20/2026 - 04:11 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Jia Li

(Last) (First) (Middle)

2F, ZUOAN 88 A, LUJIAZUI

(Street)

SHANGHAI 200122

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
U Power Ltd [ UCAR ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	10,500	I	By U Trend Limited(1)
Class B ordinary shares	147,359	I	By U Trend Limited(2)
Class B ordinary shares	149,435	I	By Upincar Limited(3)
Class B ordinary shares	71,250	I	By U Create Limited(4)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents 10,500 Class A ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li.

2. Represents 147,359 Class B ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li.

3. Represents 149,435 Class B ordinary shares held by Upincar Limited, a British Virgin Islands company 100% owned by Mr. Jia Li.

4. Represents 71,250 Class B ordinary shares held by U Create Limited, a British Virgin Islands company 100% owned by Mr. Jia Li.

	/s/ Jia Li (Johnny)	05/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)