Earnings ·
U Power reports $14.4M H1 loss and effects 1-for-20 share consolidation
UCARU Power Ltd
U Power reported a net loss of RMB97.6 million (US$14.4 million) for the six months ended June 30, 2026, compared to a loss of RMB27.4 million in the prior year period. Total revenues declined 16.5% to RMB14.8 million (US$2.2 million), driven by lower product sales and the absence of sourcing services revenue. The company also announced that on September 9, 2026, it effected a 1-for-20 reverse share consolidation of its Class A and Class B ordinary shares to increase the par value to US$0.002 per share. U Power develops and commercializes electric vehicle battery-swapping solutions based on proprietary modular technology.