UCAR · U Power Ltd

Could not be re-screened as of 2026-07-15 — share count for UCAR predates its balance sheet (2023-12-31 < 2025-12-31). The figures below are from the last successful run and may be stale.

U Power Limited, together with its subsidiaries, develops, manufactures, and sells new energy vehicles and battery swapping stations in the People's Republic of China, Thailand, Southeast Asia, South America, Hong Kong SAR, and Macau SAR markets. It also offers battery swapping and sourcing, as well as technical and consultation services. The company is involved in the provision of two-wheeled vehicle; and new energy vehicles sales. U Power Limited was founded in 2013 and is based in Wuhu, the People's Republic of China.

Cap structure and valuation

Cap structure
SP	$1.42
SO	1.2M
Options	—
Warrants	—
FD SO	1.2M
MC	$1.8M

Cash	$3.1M
Total debt	$9.7M
EV	$8.4M

TTM Multiples
EV / Revenue	—
EV / EBITDA	—
MC / Net Income	—
EV / FCF	—
MC / FCF	—

Ownership & coverage
Institutional	1.2%
Insiders	7.9%
# Institutions	10
Analysts	1
Consensus	—
Avg target	$2.00

Short % float	1.2%
Days to cover	0.52

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2023-12-31. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.

This filer tags no option or warrant count, so FD SO counts it as zero and understates dilution — treat FD SO, MC and EV as a floor. (XBRL reports nothing both for a filer that has none and for one that simply doesn't tag them.)

Financial statements

	12/31/25	12/31/24	12/31/23	12/31/22
Total Revenue	5.85	6.07	2.78	1.13
Revenue YoY %	(3.6%)	118.0%	146.1%	—
Cost of Revenue	3.73	4.63	1.07	0.74
Gross Profit	2.12	1.43	1.71	0.39
Gross Profit YoY %	48.0%	(16.3%)	344.0%	—
Gross Margin %	36.3%	23.6%	61.6%	34.1%

SG&A	7.96	6.81	6.16	5.76
R&D	0.65	0.41	0.31	1.36
Operating Expense	10.41	9.38	6.91	8.54

Operating Income	(8.29)	(7.94)	(5.20)	(8.15)
Operating Income YoY %	(4.3%)	(52.8%)	36.3%	—
Operating Margin %	(141.7%)	(130.9%)	(186.8%)	(721.0%)
EBITDA	(7.99)	(7.53)	(4.83)	(7.85)
EBITDA Margin %	(136.5%)	(124.0%)	(173.6%)	(694.3%)

Interest Expense	0.03	0.19	0.26	(0.00)
Other Income / (Expense)	(2.62)	—	2.24	—
Pretax Income	(10.94)	(7.72)	(3.22)	(8.36)
Tax Provision	0.51	—	0.37	0.00
Net Income	(11.45)	(7.72)	(3.59)	(8.36)
Net Income to Common	(9.78)	(6.57)	(2.72)	(6.66)
Net Margin %	(195.7%)	(127.2%)	(128.9%)	(739.3%)

Diluted EPS	-$2.14	-$2.30	-$0.22	-$0.13
Basic EPS	-$2.14	-$2.30	-$2.19	-$0.13
Diluted Avg Shares	4.6	2.9	1.2	0.5
Basic Avg Shares	4.6	2.9	1.2	0.5

	12/31/25	12/31/24	12/31/23	12/31/22
Cash & Equivalents	3.12	3.21	0.27	0.71
Receivables	3.16	1.42	2.22	0.23
Inventory	1.75	1.35	0.77	0.79
Other Current Assets	12.94	8.41	19.73	6.10
Total Current Assets	20.97	14.39	22.98	7.83

Net PPE	1.22	1.19	1.66	2.36
Operating Lease ROU	1.41	2.22	3.05	2.79
Intangible Assets	0.01	0.02	0.03	0.04
Long-term Investments	19.06	18.37	17.38	16.21
Other Assets	11.24	16.65	15.32	11.63
Total Assets	53.89	52.84	60.42	40.86

Accounts Payable	—	—	1.44	1.61
Current Debt	2.70	—	1.34	—
Current Lease Liabilities	0.18	0.25	0.25	0.25
Other Current Liabilities	8.77	7.54	7.52	6.71
Total Current Liabilities	11.65	7.79	10.55	8.57
Long-term Debt	—	—	—	1.45
Long-term Lease Liabilities	0.34	0.57	0.84	0.69
Other Liabilities	—	0.51	—	—
Total Liabilities	11.98	8.87	11.39	10.72

Retained Earnings	(41.23)	(30.29)	(24.39)	(22.30)
Total Equity	41.91	43.98	48.54	29.73

	12/31/25	12/31/24	12/31/23	12/31/22
Net Income	(11.45)	(7.72)	(3.59)	(8.36)
D&A	0.30	0.42	0.37	0.30
Δ Working Cap & Other	1.21	(2.72)	(6.00)	6.19
Operating Cash Flow	(9.94)	(10.03)	(9.22)	(1.87)

CapEx	(0.07)	(0.00)	(0.12)	(1.13)
Acquisitions	—	—	(6.00)	—
Other Investing	3.46	6.73	(5.72)	(0.52)
Investing Cash Flow	3.39	6.73	(11.84)	(1.65)

Debt Repayment	(0.67)	(0.41)	(0.07)	(0.07)
Stock Issuance	7.47	3.54	22.00	—
Other Financing	—	(1.36)	3.34	0.72
Financing Cash Flow	6.70	1.78	25.27	0.65

Effect of FX on Cash	(0.36)	(0.06)	0.06	—

Free Cash Flow	(10.01)	(10.03)	(9.34)	(3.00)

	12/31/25	12/31/24	12/31/23	12/31/22
Current Ratio	1.80	1.85	2.18	0.91
Quick Ratio	1.65	1.67	2.11	0.82
Debt / Equity	0.29	0.20	0.23	0.36
EBITDA Margin %	(136.5%)	(124.0%)	(173.6%)	(694.3%)
Working Capital	9.32	6.60	12.44	(0.74)
Net Debt	—	—	—	0.74
ROE %	(27.3%)	(17.6%)	(7.4%)	(28.1%)
ROA %	(21.2%)	(14.6%)	(5.9%)	(20.5%)

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-05-20	Jia Li	Director, Officer (Chief Executive Officer)	2026-05-06	P	1,829,269	$1.64	$3,000,001