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UCAR News
UCAR Events
Selling Stockholders Offer 9.76M Class A Ordinary Shares
This filing relates to the offer and sale from time to time by the selling stockholders of up to 9.76M Class A ordinary shares. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.
U Power Files to Sell 2.78M Class A Ordinary Shares
U Power files to sell 2.78M Class A ordinary shares for holders
U Power Signs Agreement for 100MW Data Center Development
U Power's controlled joint venture Hydro Data, CEWA Group and Jiangsu Guofu Hydrogen Energy have entered into an agreement to develop an integrated energy solution for a 100MW data center project in Rayong, Thailand. The Hydro Data JV agreement was entered into in April to establish a U Power-controlled joint venture aimed at providing AI-driven energy management solutions for data centers, initially in Thailand, and with plans for global expansion. The company expects to establish a Thailand-based subsidiary by July 31 and commence operations of the Hydro Data JV within 90 days thereafter. The project features a phased deployment structure, beginning with a 3MW pilot project to validate technology and economics and establish a framework for deploying integrated hydrogen-based and clean energy solutions for large-scale digital infrastructure, with potential to scale to 100MW.
U Power Signs Strategic JV Agreement with Guofu Hydrogen Energy
U Power signed an agreement with Guofu Hydrogen Energy Hong Kong and Cloud Digital Chain to establish a strategic U Power-controlled joint venture, or JV, entity aiming at providing comprehensive AI-driven energy management solutions for Intelligent Data Centers, or IDCs, initially in the Thailand market, and expected to gradually expand into global markets. U Power will hold a majority equity stake in the JV. The Parties anticipate providing initial capital for the establishment and incorporation of one or more subsidiaries in Hong Kong SAR on or before July 31. The JV is expected to commence operations within 90 days thereafter. Through this JV, U Power aims to expand its business scope into hydrogen energy services tailored for IDCs, marking a strategic step beyond its core battery-swapping operations, and create a new and scalable revenue stream that complements its existing battery-swapping business. Expansion in other markets will proceed gradually, using a replicable operational model. Guofuhee is an integrated solutions provider for the full hydrogen energy equipment value chain in China. Cloud Digital is a technology-focused company operating in the emerging digital asset and new technology sectors.
U Power Sells 2.9 Million Class A Shares at $1.10 Each
U Power announced that on April 7, it entered into subscription agreements with seven purchasers, for the sale of 2,900,000 Class A Ordinary Shares of the Company at $1.10 per Share. Gross proceeds to the Company from this Transaction will be $3.19M The closing of the Transaction contemplated hereby is expected to take place on or about April 7, 2026, and has been approved by the Company's board of directors. The Company intends to use the proceeds from this Transaction to support its expansion across both new and existing key markets, enhance and scale its core operations, and accelerate the deployment of its proprietary battery-swapping solutions. Additional details regarding the Transaction are set forth in the Company's Current Report on Form 6-K filed with the SEC on April 7. The Shares issued in the Transaction were offered in an offshore transaction to persons who are not U.S. persons pursuant to Regulation S under the Securities Act of 1933.
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