U Power Limited announced a forward share consolidation on a 20-for-1 basis, approved by the board and shareholders in late 2025. The transaction adjusts authorized capital to US$50,000 divided into approximately 25 million Class A and B ordinary shares with a par value of US$0.002 each. Trading on the Nasdaq Capital Market under symbol UCAR will resume on a post-consolidation basis beginning September 9, 2026, utilizing a new CUSIP number. Fractional shares are rounded up to whole shares rather than cashed out. U Power Limited operates in the electric vehicle industry.

U Power Limited issued and sold 9,756,100 Class A ordinary shares to four non-U.S. purchasers at $1.64 per share, raising $16 million in aggregate proceeds on August 3, 2026. The company intends to use the net proceeds primarily to support the development of hydrogen energy solutions for intelligent data centers in Thailand and to pursue strategic acquisitions within the upstream and downstream value chain for these facilities. U Power Limited operates in the clean technology sector, focusing on hydrogen energy solutions and intelligent data center infrastructure.

Jean Christophe Baron Von Pfetten resigned from the Board of Directors and all committee memberships effective June 30, 2026. To fill the vacancy, the Board appointed Bo Lyu as an independent director and a member of the audit, compensation, and nominating and corporate governance committees effective July 1, 2026. U Power Limited is a provider of energy storage solutions and power management systems.

U Power Limited entered into a joint venture agreement with Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. and Cloud Digital Chain Limited to establish a U Power-controlled joint venture, Hydro Data Limited, based in Hong Kong-based joint venture, based in Hong Kong, established on May 20, 2026, to provide AI-driven energy management solutions for data centers. Hydro Data Limited, in a subsequent agreement with CEWA Group and Guofu Hydrogen Energy, entered into an agreement to develop an integrated energy solution for a 100MW intelligence data center project in Rayong, Thailand, starting with a 3MW pilot project by the end of 2026. U Power Limited operates in the energy management and clean energy solutions for digital infrastructure.