logo
U Power Provides Business Update and Outlines Key Objectives for 2025 and Beyond

U Power Provides Business Update and Outlines Key Objectives for 2025 and Beyond

Yahooa day ago

Investing in Next-Generation Technologies with a Goal of Becoming a Smart Energy Grid Solutions Provider
SHANGHAI, June 10, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of comprehensive electric vehicle ("EV") battery-swapping solutions with a vision of becoming a smart energy grid solutions provider, today provides an update of recent business developments, strategic partnerships and outlines its key growth initiatives for 2025 and beyond.
Recent Business Developments
- Expanded our client base and domestic footprint: Our proprietary UOTTA-powered battery-swapping stations and related solutions continued to gain traction. Our UOTTA technology offers fast, efficient battery swap for a variety of EVs including commercial trucks, buses, light trucks and passenger vehicles, including two wheeled and three wheeled. For full year 2024 we reported total revenue of $6.2 million, representing an increase of 124% as compared to full year 2023. During 2024 we sold and delivered a total of 12 battery-swapping stations.
- Established global partnerships: We have established various partnerships in Thailand, Portugal, Hong Kong, Peru and Mexico to jointly promote UOTTA battery-swapping services and we are working on building a battery-swapping ecosystem in these markets. We are partnering with major EV manufacturers in these markets to facilitate the sales of UOTTA-powered EVs and have begun delivering battery-swapping stations initially for taxi and ride-hailing services.
- Patents: We continued to strengthen our capabilities and introduced innovative UOTTA solutions supported by a large number of patents (46 issued patents and 18 pending patent applications).
Two-Fold Growth Strategy for 2025 and Beyond
Our key objective is to continue to grow our existing business, establish new business lines and generate additional revenue streams via a well-thought business plan based on two main pillars.
1. Leverage existing battery-swapping technology to build a comprehensive UOTTA-centered ecosystem. Specifically, we are:
Incorporating UOTTA into more EVs in our local market by taking advantage of the widespread adoption of EVs.
Accelerate international rollout via several partnerships we have established in Southeast Asia, Southern Europe and South America, and new ones we are targeting.
Continue investing in technology innovation and continuous upgrades of our one-stop UOTTA solutions.
2. Invest in next-generation technologies to develop comprehensive solutions for EV manufactures and drivers, aiming to transform EVs into dynamic assets for smart energy grids. Specifically, we plan to:
Continue investing in our AI-based data management cloud platform which connects UOTTA-powered EVs with stations and assists UOTTA-powered EV drivers locate the closest compatible UOTTA swapping stations on their route. Our continued investment aims to develop a comprehensive battery power solution platform which will offer advanced real-time data connections, analysis and forecasting capabilities, improve driving and re-charging experience, and serve as a complete urban road transportation solution.
Introduce "Battery Bank" solutions into the platform, aiming to enhance the performance of battery life cycle and use AI blockchain technology to monetize battery assets.
Introduce "Commercial Energy Storage" solutions for distributed and/or centralized energy storage stations, industrial and commercial EV charging and swapping stations, etc.
Johnny Lee, CEO and Chairman of U Power commented, "In early 2024 we made the strategic decision to re-organize and transform our business into a comprehensive solution provider for EVs, with a goal of becoming a smart energy grid solutions provider. The first step towards reaching our goal was the development of UOTTA battery-swapping stations and related solutions which reduce cost and timing of EV charging. Also, our UOTTA solutions are designed to minimize the need for extensive EV charging grid upgrades and facilitate the establishment of efficient and sustainable charging networks for the growing EV fleets of passenger cars or commercial trucks, which we are offering to both domestic and international customers. Our next step is to create a mature ecosystem by scaling up our UOTTA battery swapping operations, which will eventually enable and accelerate the development and implementation of new AI-based data management offerings and services such as Battery Bank business solutions, and Commercial Energy Storage solutions, transforming EVs into dynamic assets for smart energy grids."
Mr. Lee added, "We believe our two-fold strategy has well-positioned U Power to grow revenue from existing business lines, create new revenue streams, improve profitability, expand client base and geographic footprint and ultimately create value for shareholders."
About U Power Limited
U Power is a comprehensive provider of electric vehicle (EV) battery swapping solutions using its proprietary modular battery-swapping technology, UOTTA™. U Power manufactures and sells different models of UOTTA battery-swapping stations for EVs, and sells and rents battery swap cabinets to two-wheeled vehicle drivers. U Power also provides battery-swapping services for vehicle drivers and station control system upgrading services for battery-swapping station owners.
Through investments in next-generation technologies, U Power's vision is to become a comprehensive solutions provider for smart energy grids. Expanding on its UOTTA technology platform, the Company is investing in building intelligent ecosystems that integrate resilient AI driven solutions able to transform electric vehicles (EVs) into dynamic energy assets.
For more information, please visit the Company's website: https://www.upower-limited.com/.
Safe Harbor Statements
This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
Contact U Power Limited Investor Relations Departmentir@upincar.com
The Equity GroupLena Cati, Senior Vice President212-836-9611 / lcati@theequitygroup.com
Alice Zhang, Associate212-836-9610 / azhang@theequitygroup.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/u-power-provides-business-update-and-outlines-key-objectives-for-2025-and-beyond-302476571.html
SOURCE U Power Limited

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

GRUPO SIMEC SAB DE CV ANNOUNCES THE PRESENTATION OF DOCUMENT 20F TO THE SEC
GRUPO SIMEC SAB DE CV ANNOUNCES THE PRESENTATION OF DOCUMENT 20F TO THE SEC

Yahoo

time15 minutes ago

  • Yahoo

GRUPO SIMEC SAB DE CV ANNOUNCES THE PRESENTATION OF DOCUMENT 20F TO THE SEC

GUADALAJARA, Mexico, June 11, 2025 /PRNewswire/ -- Grupo Simec, S.A.B. de C.V. (NYSE-MKT: SIM) (the "Company") May 15, 2025 filed its Annual Report on Form 20-F for the year ended December 31, 2024 with the U.S. Securities and Exchange Commission at The Form 20-F is also available on the investor relations section of the Company's website at Shareholders may request a hard copy of the Form 20-F, including the Company's complete audited financial statements for the year ended December 31, 2024, free of charge, by contacting the Company's Finance coordinator, Mario Moreno Cortez, by email at mmoreno@ About Grupo Simec Grupo Simec is a diversified manufacturer, processor and distributor of SBQ steel and structural steel products with production and commercial operations in Mexico and Brazil, and limited commercial operations in the United States. Grupo Simec is also an important producer of structural and light structural steel products in Mexico in terms of sales volume. Grupo Simec's SBQ products are used across a broad range of highly engineered end-user applications, including axles, hubs and crankshafts for automobiles and light trucks, machine tools and off-highway. Contact: Mario Moreno CortezGrupo Simec, S.A.B. de Lázaro Cárdenas 60144440 Guadalajara, Jalisco, México+52 33 3770 6734 View original content: SOURCE Grupo Simec, S.A.B. de C.V.

Private companies who hold 57% of Newegg Commerce, Inc. (NASDAQ:NEGG) gained 118%, insiders profited as well
Private companies who hold 57% of Newegg Commerce, Inc. (NASDAQ:NEGG) gained 118%, insiders profited as well

Yahoo

time21 minutes ago

  • Yahoo

Private companies who hold 57% of Newegg Commerce, Inc. (NASDAQ:NEGG) gained 118%, insiders profited as well

Newegg Commerce's significant private companies ownership suggests that the key decisions are influenced by shareholders from the larger public Hangzhou Lianluo Interactive Information Technology Co.,Ltd owns 57% of the company 31% of Newegg Commerce is held by insiders AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. A look at the shareholders of Newegg Commerce, Inc. (NASDAQ:NEGG) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are private companies with 57% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Private companies gained the most after market cap touched US$101m last week, while insiders who own 31% also benefitted. Let's take a closer look to see what the different types of shareholders can tell us about Newegg Commerce. See our latest analysis for Newegg Commerce Small companies that are not very actively traded often lack institutional investors, but it's less common to see large companies without them. There are many reasons why a company might not have any institutions on the share registry. It may be hard for institutions to buy large amounts of shares, if liquidity (the amount of shares traded each day) is low. If the company has not needed to raise capital, institutions might lack the opportunity to build a position. It is also possible that fund managers don't own the stock because they aren't convinced it will perform well. Newegg Commerce's earnings and revenue track record (below) may not be compelling to institutional investors -- or they simply might not have looked at the business closely. We note that hedge funds don't have a meaningful investment in Newegg Commerce. Our data shows that Hangzhou Lianluo Interactive Information Technology Co.,Ltd is the largest shareholder with 57% of shares outstanding. With such a huge stake in the ownership, we infer that they have significant control of the future of the company. Meanwhile, the second and third largest shareholders, hold 31% and 0.2%, of the shares outstanding, respectively. Faching Chang, who is the second-largest shareholder, also happens to hold the title of Top Key Executive. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our information suggests that insiders maintain a significant holding in Newegg Commerce, Inc.. Insiders have a US$31m stake in this US$101m business. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. With a 11% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Newegg Commerce. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. We can see that Private Companies own 57%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for Newegg Commerce you should be aware of. Of course this may not be the best stock to buy. So take a peek at this free free list of interesting companies. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Acronis Appoints Terry Christie as General Manager for ANZ to Lead Regional Operations and Boost Platform Adoption
Acronis Appoints Terry Christie as General Manager for ANZ to Lead Regional Operations and Boost Platform Adoption

Yahoo

time27 minutes ago

  • Yahoo

Acronis Appoints Terry Christie as General Manager for ANZ to Lead Regional Operations and Boost Platform Adoption

New leadership underscore Acronis' commitment to scaling AI-powered cyber protection and strengthening partner engagement in Australia and New Zealand SYDNEY, June 12, 2025 (GLOBE NEWSWIRE) -- Acronis, a global leader in cybersecurity and data protection, today announced a key leadership appointment in the Australia and New Zealand (ANZ) region, naming Terry Christie as General Manager for ANZ. This appointment highlights Acronis' ongoing investment in the region and its focus on growth through local expertise and strong partner more than 25 years of experience in IT and cybersecurity, Christie will lead the ANZ team in accelerating business growth, deepening relationships with partners and customers, and expanding Acronis' presence in the region. As General Manager, he will be responsible for shaping regional strategy, scaling operations, and driving collaboration across Australia and New Zealand—particularly in helping service providers deliver modern cyber protection through integrated security and remote monitoring and management (RMM) capabilities. Christie has previously held senior roles at Nitro, Aruba (HPE), Commvault, IBM, Lenovo, Samsung Electronics, and Ingram Micro. 'What excites me most about joining Acronis is the opportunity to be part of a company that's at the forefront of cybersecurity and data protection,' said Terry Christie, General Manager for ANZ. 'The market is evolving rapidly, and Acronis' unified platform — combining backup, disaster recovery, endpoint protection, and cybersecurity — is uniquely positioned to meet the needs of modern businesses. I'm passionate about helping our partners and customers understand the power of this integrated approach and the value it brings to securing digital environments.' Joining Christie on the ANZ team, Pete Bouris has been named Strategic Partner Account Manager. Bouris brings extensive experience in partner development and cybersecurity sales. In this role, he will focus on partner recruitment and enablement efforts across Australia. Bouris most recently served as Head of SMB Sales ANZ at Veeam and has held roles at Arcserve and StorageCraft. His experience working with MSPs and MSSPs positions him well to support Acronis' channel-first go-to-market strategy in the region. 'Acronis is expanding in Australia and New Zealand, thanks to growing potential and strong partnerships in these countries,' said Pasha Ershow, Senior Vice President for APJ & Middle East. 'These appointments reflect our commitment to invest into a strong local team that delivers innovative, AI-powered cyber protection for our partners. With Terry and Pete onboard, we'll continue to accelerate our business growth, which is already growing more than 40% year on year, delivering AI-powered security, data protection, and RMM platform, helping more than 600 partners to address evolving cybersecurity challenges with confidence.' Acronis uniquely combines cybersecurity, data protection, and endpoint management into one integrated solution. With built-in RMM, advanced threat detection, and AI-driven automation, Acronis empowers service providers to deliver seamless protection and extended detection and response (XDR) while maximising efficiency and minimising complexity. As MSPs and businesses across ANZ navigate increasingly sophisticated cyber threats, these capabilities are critical. For more information about Acronis, please visit: About AcronisAcronis is a global cyber protection company that provides natively integrated cybersecurity, data protection, and endpoint management for managed service providers (MSPs), small and medium businesses (SMBs), and enterprise IT departments. Acronis solutions are highly efficient and designed to identify, prevent, detect, respond, remediate, and recover from modern cyberthreats with minimal downtime, ensuring data integrity and business continuity. Acronis offers the most comprehensive security solution on the market for MSPs with its unique ability to meet the needs of diverse and distributed IT environments. A Swiss company founded in Singapore in 2003, Acronis has 15 offices worldwide and employees in 50+ countries. Acronis Cyber Protect is available in 26 languages in 150 countries and is used by over 21,000 service providers to protect over 750,000 businesses. Learn more at Acronis Media Contact:Seok Cheng ChiaCorporate Communications Senior in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store