How did the 10:1 share consolidation affect Jia Li’s U Power (UCAR) holdings?

The filing states Jia Li’s holdings were adjusted for a ten-for-one (10:1) share consolidation effective April 1, 2026. This means the share counts now shown, including his direct and indirect positions, already reflect the post-consolidation structure.

U Power (UCAR) CEO adds 1.83M Class A shares in open-market buy

Filing Impact

(Very High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

U Power Ltd director and Chief Executive Officer Jia Li reported a large open-market purchase of Class A ordinary shares. On May 6, 2026, Li bought 1,829,269 Class A ordinary shares at $1.64 per share, which he now holds directly.

Li is also associated with several indirect holdings through British Virgin Islands companies he 100% owns. U Trend Limited holds 1,050 Class A and 14,736 Class B ordinary shares, Upincar Limited holds 14,944 Class B shares, and U Create Limited holds 7,125 Class B shares. The holdings have been adjusted to reflect a ten-for-one (10:1) share consolidation effective April 1, 2026.

Insider Trade Summary

Net Buyer: 1,829,269 shares ($3,000,001)

Net Buy 5 txns

Insider Jia Li

Role Chief Executive Officer

Bought 1,829,269 shs ($3.00M)

Type	Security	Shares	Price	Value
Purchase	Class A ordinary shares	1,829,269	$1.64	$3.00M
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 — 1,829,269 shares (Direct, null); Class A ordinary shares — 1,050 shares (Indirect, By U Trend Limited); Class B ordinary shares — 14,736 shares (Indirect, By U Trend Limited)

Footnotes (1)

Represents 1,050 Class A ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li. Represents 14,736 Class B ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li. Represents 14,944 Class B ordinary shares held by Upincar Limited, a British Virgin Islands company 100% owned by Mr. Jia Li. Represents 7,125 Class B ordinary shares held by U Create Limited, a British Virgin Islands company 100% owned by Mr. Jia Li. The reporting person's holdings have been adjusted to reflect the ten-for-one (10:1) share consolidation, effective April 1, 2026.

Key Figures

Open-market purchase size: 1,829,269 Class A shares Purchase price: $1.64 per share Direct Class A holdings after trade: 1,829,269 shares +5 more

8 metrics

Open-market purchase size 1,829,269 Class A shares Bought on May 6, 2026 in open-market transaction

Purchase price $1.64 per share Price for Class A ordinary shares bought May 6, 2026

Direct Class A holdings after trade 1,829,269 shares Class A ordinary shares held directly following transaction

U Trend Limited Class A holdings 1,050 shares Class A ordinary shares held indirectly via U Trend Limited

U Trend Limited Class B holdings 14,736 shares Class B ordinary shares held indirectly via U Trend Limited

Upincar Limited Class B holdings 14,944 shares Class B ordinary shares held indirectly via Upincar Limited

U Create Limited Class B holdings 7,125 shares Class B ordinary shares held indirectly via U Create Limited

Share consolidation ratio 10:1 consolidation Ten-for-one share consolidation effective April 1, 2026

Key Terms

Class A ordinary shares, Class B ordinary shares, open-market purchase, indirect ownership, +1 more

5 terms

Class A ordinary shares financial

"Represents 1,050 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 14,736 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.

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

indirect ownership financial

"direct_or_indirect": "I", "ownership_type": "indirect""

Form 4 Insider Transactions: What Each Field Means →

05/20/2026 - 04:15 PM

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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

5. 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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A ordinary shares	05/06/2026		P		1,829,269	A	$1.64	1,829,269	D
Class A ordinary shares								1,050	I	By U Trend Limited⁽¹⁾⁽⁵⁾
Class B ordinary shares								14,736	I	By U Trend Limited⁽²⁾⁽⁵⁾
Class B ordinary shares								14,944	I	By Upincar Limited⁽³⁾⁽⁵⁾
Class B ordinary shares								7,125	I	By U Create Limited⁽⁴⁾⁽⁵⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents 1,050 Class A ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li.

2. Represents 14,736 Class B ordinary shares held by U Trend Limited, a British Virgin Islands company which is 100% owned by Mr. Jia Li.

3. Represents 14,944 Class B ordinary shares held by Upincar Limited, a British Virgin Islands company 100% owned by Mr. Jia Li.

4. Represents 7,125 Class B ordinary shares held by U Create Limited, a British Virgin Islands company 100% owned by Mr. Jia Li.

5. The reporting person's holdings have been adjusted to reflect the ten-for-one (10:1) share consolidation, effective April 1, 2026.

	/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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Jia Li report in U Power (UCAR) Form 4?

Jia Li reported buying Class A ordinary shares of U Power (UCAR). He acquired 1,829,269 Class A shares in an open-market purchase, significantly increasing his directly held stake according to the filing’s reported post-transaction holdings.

How many U Power (UCAR) shares did Jia Li buy and at what price?

Jia Li bought 1,829,269 Class A ordinary shares of U Power (UCAR) at $1.64 per share. The filing shows this open-market purchase and lists 1,829,269 Class A shares held directly by him after the transaction.

What indirect U Power (UCAR) holdings are associated with Jia Li?

Indirect holdings are reported through three 100%-owned British Virgin Islands companies. U Trend Limited holds 1,050 Class A and 14,736 Class B shares, Upincar Limited holds 14,944 Class B shares, and U Create Limited holds 7,125 Class B shares.

Does U Power (UCAR) CEO Jia Li hold both Class A and Class B shares?

Yes. Jia Li holds Class A shares directly and both Class A and Class B shares indirectly. Directly he owns 1,829,269 Class A shares, while his wholly owned entities hold additional Class A and Class B ordinary shares as detailed in the filing footnotes.

Are there any derivative securities reported for Jia Li in this U Power (UCAR) Form 4?

The filing’s derivative section is empty, indicating no derivative securities, such as options or warrants, are reported for Jia Li in this specific Form 4. All listed positions are in Class A and Class B ordinary shares.