Associated tags: EVS, EV, UCAR
Locations: LOS ANGELES, PORTUGAL, WUHU, FREEDOM, US, SOUTH AMERICA, NY, CHINA, UCAR
Retrieved on:
Wednesday, April 24, 2024
SHANGHAI, April 24, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated April 19, 2024, informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on the Nasdaq Capital Market.
Key Points:
- SHANGHAI, April 24, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated April 19, 2024, informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on the Nasdaq Capital Market.
- Additionally, in application of Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory panel monitor for a period of one year from the date of this letter.
- If, within the one-year monitoring period, Nasdaq finds the Company again out of compliance with the Rule, Nasdaq will issue a Delist Determination Letter and the Company will have an opportunity to request a new hearing with the initial panel or a newly convened hearings panel if the initial panel is unavailable.
The rollout, which is expected to take place during April 2024, follows a successful round of market validations in February.
Key Points:
- The rollout, which is expected to take place during April 2024, follows a successful round of market validations in February.
- As part of this expansion, U Power plans to establish 60 power-swapping service points which will cater to over 800 customers.
- The battery-swapping and sharing technology for two-wheeled and light four-wheeled EVs involves the use of identical battery cells and packaging methods.
- The battery packs for both types of EV are stored in a single battery-swapping station (BSS).
SHANGHAI , March 29, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that the Company held an extraordinary general meeting of shareholders on Monday, March 25, 2024, at which the shareholders approved the proposal for a 1-for-100 reverse share split of the Company's ordinary shares (the "Share Consolidation").
Key Points:
- SHANGHAI , March 29, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that the Company held an extraordinary general meeting of shareholders on Monday, March 25, 2024, at which the shareholders approved the proposal for a 1-for-100 reverse share split of the Company's ordinary shares (the "Share Consolidation").
- No fractional shares will be issued in connection with the Share Consolidation and all fractional shares (after aggregating all fractional shares that would otherwise be received by a shareholder) resulting from the Share Consolidation will be rounded up to the whole number of shares.
- At the opening of trading on April 3rd, 2024, the Company's ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol, "UCAR", with a new CUSIP number of G9520U116.
- The Share Consolidation is being effectuated primarily to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) related to the minimum bid price per share of the Company's ordinary shares.
SHANGHAI, March 4, 2024 /PRNewswire/ -- Youxu New Energy, a subsidiary of U Power Limited focusing on renewable energy solutions, has unveiled the UOTTA™ intelligent battery swapping system, providing power battery swapping solutions for a range of vehicles, including heavy trucks, light trucks, buses, taxis, etc.
Key Points:
- SHANGHAI, March 4, 2024 /PRNewswire/ -- Youxu New Energy, a subsidiary of U Power Limited focusing on renewable energy solutions, has unveiled the UOTTA™ intelligent battery swapping system, providing power battery swapping solutions for a range of vehicles, including heavy trucks, light trucks, buses, taxis, etc.
- Currently, the battery swapping technology for light four-wheeled electric vehicles (EVs) and two-wheeled EVs is undergoing market validation in China.
- The battery swapping and sharing technology for two-wheeled and light four-wheeled EVs involves the use of identical battery cells and packaging methods.
- With the continuous evolution of battery technologies, U Power Limited foresees the broadening application of the battery swapping and sharing technology to a wider range of vehicle models.
Retrieved on:
Friday, February 23, 2024
SHANGHAI, Feb. 23, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it has entered into a Memorandum of Understanding (the "MOU") on February 6, 2024, with Durapower Holdings Pte Ltd. ("Durapower"), a Singapore-based lithium-ion battery manufacturer.
Key Points:
- SHANGHAI, Feb. 23, 2024 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it has entered into a Memorandum of Understanding (the "MOU") on February 6, 2024, with Durapower Holdings Pte Ltd. ("Durapower"), a Singapore-based lithium-ion battery manufacturer.
- Pursuant to the MOU, U Power and Durapower intend to jointly explore several areas relating to battery swapping technology applications for electric vehicles and ships used for medium- and short-distance transportation, mining trucks used for ore transfer, and logistical vehicles used for urban cold chain distribution.
- U Power and Durapower also intend to cooperate to establish a "battery banking" business model based on intelligent battery swapping technology, and collaborate on marketing efforts to promote awareness of the technology in Singapore and elsewhere.
- We are eager to leverage Durapower's industry knowledge and resources, and are excited to work together to achieve future success."
Retrieved on:
Monday, February 12, 2024
Upon successful completion of the market validation phase, the Company aims to extend its service by gradually deploying over 200 of their specialized battery swapping stations in additional Chinese provinces, including Shandong, Anhui, and Shanxi.
Key Points:
- Upon successful completion of the market validation phase, the Company aims to extend its service by gradually deploying over 200 of their specialized battery swapping stations in additional Chinese provinces, including Shandong, Anhui, and Shanxi.
- U Power's battery swapping technology seamlessly accommodates both two- and lightweight four-wheeled EVs by utilizing battery packs with identical specifications.
- For instance, two-wheeled EVs may use 2-4 sets of battery modules, while their lightweight four-wheeled counterparts may use 4-8 sets of battery modules.
- The procedure entails initiating the swap via cell phone verification at the battery station, followed by manual battery swapping.
Retrieved on:
Thursday, February 8, 2024
Emmanuel College,
Renmin University of China,
International,
Intelligence cycle,
Corporate governance,
EV,
Policy,
Physics,
Compensated emancipation,
Geophysics,
University of Cambridge,
Audit committee,
University,
HK,
Management He also served as a member of the board of the International Financial Bank (FinInt Italy) for three years from January 2019 to December 2022.
Key Points:
- He also served as a member of the board of the International Financial Bank (FinInt Italy) for three years from January 2019 to December 2022.
- Mr. Jia Li, Chief Executive Officer and Chairman of the Board, commented, "We are thrilled to have Prof. Pfetten join our Board as an independent director.
- He brings a diverse array of experiences and unique insights to the Board.
- This appointment further strengthens our commitment to driving success for our shareholders."
Retrieved on:
Tuesday, January 23, 2024
Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if such deficiency continues for a period of 30 consecutive business days.
Key Points:
- Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if such deficiency continues for a period of 30 consecutive business days.
- Based on the closing bid price of the Company's ordinary shares for the 30 consecutive business days from December 4, 2023, to January 18, 2024, the Company no longer meets the minimum bid price requirement.
- To regain compliance, the Company's ordinary shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days.
- The Company intends to monitor the closing bid price of its ordinary shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
Retrieved on:
Wednesday, January 10, 2024
Silicon,
Power,
EVS,
ZhenFund,
Architecture,
Renesas Electronics,
Level 2,
LAS,
Matrix Partners,
Multimedia,
Partnership,
AI,
ADAS,
UP,
VAN,
Investment,
Today,
Original equipment manufacturer,
EV,
CCV,
Engine,
CES,
SUV,
NVIDIA,
LC2,
Video game U POWER delivers the first batch of UP Super Boards to Olympian Motors, a new-gen EV company headquartered in New York.
Key Points:
- U POWER delivers the first batch of UP Super Boards to Olympian Motors, a new-gen EV company headquartered in New York.
- Leveraging its R&D capabilities and a business model that integrates the global EV industry supply chain, U POWER has announced partnership with business partners in Japan, Southeast Asia, Europe markets, with a goal of accelerating the EV industry transformation.
- Showcasing an elevated class and refined aesthetic, the Olympian Model O1 is also on display at the U POWER CES booth.
- Since 2021, U POWER has received investments from top dollar funds including Matrix Partners, CCV, ZhenFund and the leading auto industry funds Bosch's BOYUAN Capital.
Retrieved on:
Wednesday, December 6, 2023
Suite,
ATTN:,
Sale,
FINRA,
Acquisition,
Form,
Rockefeller Center,
File,
Series,
Prospectus,
SIPC,
EV,
Offering,
Security (finance) The Company received aggregate gross proceeds of US$12,000,000 from the Offering, excluding expenses associated with the Offering.
Key Points:
- The Company received aggregate gross proceeds of US$12,000,000 from the Offering, excluding expenses associated with the Offering.
- Proceeds from the Offering will be used for the merger and acquisition of battery swapping companies, working capital, and other general corporate purposes.
- Univest Securities, LLC ("Univest") acted as the placement agent for the Offering.
- Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the Company, and Ortoli Rosenstadt LLP acted as U.S. counsel to Univest in connection with the Offering.
