U Power Ltd (OQ:UCAR)
Business Focus: Auto & Truck Wholesale
| Sector: Consumer Cyclicals | Industry: Auto & Truck Manufacturers |
| Company Contact | |
| Address: | 2F, Zuoan 88 A, Lujiazui SHANGHAI SHA 200120 |
| Tel: | N/A |
| Website: | www.upincar.com |
| IR: | See website |
| Key People | ||
| Jia Li Chairman of the Board, Chief Executive Officer | Bingyi Zhao Chief Financial Officer, Director | |
| Business Overview |
| U Power Ltd is a China-based company mainly engaged in motor vehicle wholesale. The Company's businesses include vehicle sourcing business, UOTTA-powered electric cars and UOTTA battery-swapping stations. The Company is also engaged in the research and development, and promotion and sales of UOTTA-powered electric cars. |
| Financial Overview |
| For the six months ended 30 June 2023, U Power Ltd revenues decreased 56% to RMB1.9M. Net loss decreased 68% to RMB3.5M. Revenues reflect Product sales decrease from RMB2.6M to RMB0K. Lower net loss reflects Other income increase from RMB10K to RMB16.1M (income), Research and development expenses decrease of 31% to RMB1.9M (expense). Basic Earnings per Share excluding Extraordinary Items increased from -RMB20.90 to -RMB6.88. |
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