NASDAQ : UCAR
U Power Limited — Financial statements
Consumer Discretionary · Auto & Truck Dealerships · China
Last price 2.85 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.06M
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Financial statements
U Power Limited (UCAR) reported revenue of 41.12M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 41.12M | 41.12M | 44.29M | 19.76M | 7.80M | 8.01M |
| Cost of Revenue | 26.21M | 26.21M | 33.83M | 7.59M | 5.14M | 5.14M |
| Gross Profit | 14.92M | 14.92M | 10.46M | 12.17M | 2.66M | 2.87M |
| Selling, General & Admin | 55.99M | 55.99M | 49.70M | 43.70M | 39.76M | 42.45M |
| Research & Development | 4.60M | 4.60M | 2.98M | 2.18M | 9.35M | 5.37M |
| Operating Expenses | 73.18M | 73.18M | 57.95M | 47.08M | 58.91M | 47.82M |
| Operating Income | -58.27M | -58.27M | -47.48M | -34.91M | -56.25M | -44.95M |
| Interest Expense | -188.00K | -188.00K | -1.40M | -1.86M | -764.00K | -696.00K |
| Interest & Investment Income | 2.83M | 2.83M | 742.00K | 562.00K | 49.00K | 437.00K |
| Other Non Operating Income (Expenses) | -21.27M | -21.27M | 2.29M | 15.35M | -698.00K | -1.27M |
| EBT Excluding Unusual Items | -76.90M | -76.90M | -45.86M | -20.86M | -57.66M | -46.48M |
| Asset Writedown | -10.50M | -2.00M | ||||
| Pretax Income | -76.90M | -76.90M | -56.36M | -22.85M | -57.66M | -46.48M |
| Income Tax Expense | 3.58M | 3.58M | 2.61M | 5.00K | 2.58M | |
| Earnings From Continuing Operations | -80.48M | -80.48M | -56.36M | -25.47M | -57.67M | -49.06M |
| Minority Interest in Earnings | 11.76M | 11.76M | 8.44M | 6.13M | 11.75M | 7.67M |
| Net Income | -68.72M | -68.72M | -47.92M | -19.34M | -45.92M | -41.40M |
| Net Income to Common | -68.72M | -68.72M | -47.92M | -19.34M | -45.92M | -41.40M |
| Shares Outstanding (Basic) | 22.84K | 22.84K | 14.27K | |||
| Shares Outstanding (Diluted) | 22.84K | 22.84K | 14.27K | |||
| EPS (Basic) | -3,009.15 | -3,009.15 | -3,357.53 | |||
| EPS (Diluted) | -3,009.15 | -3,009.15 | -3,357.53 | |||
| Free Cash Flow | -70.39M | -70.39M | -73.18M | -66.32M | -20.66M | -91.80M |
| Free Cash Flow Per Share | -3,082.45 | -3,082.45 | -5,127.16 | |||
| Gross Margin | 36.27% | 36.27% | 23.62% | 61.59% | 34.11% | 35.87% |
| Operating Margin | -141.68% | -141.68% | -107.21% | -176.62% | -721.51% | -561.19% |
| Profit Margin | -167.10% | -167.10% | -108.20% | -97.84% | -589.03% | -516.84% |
| Free Cash Flow Margin | -171.17% | -171.17% | -165.23% | -335.57% | -265.02% | -1,146.09% |
| EBITDA | -56.22M | -56.22M | -44.50M | -32.30M | -54.16M | -43.18M |
| EBITDA Margin | -136.72% | -136.72% | -100.47% | -163.43% | ||
| D&A For EBITDA | 2.04M | 2.04M | 2.99M | 2.61M | 2.09M | 1.77M |
| EBIT | -58.27M | -58.27M | -47.48M | -34.91M | -56.25M | -44.95M |
| EBIT Margin | -141.68% | -141.68% | -107.21% | -176.62% | ||
| Revenue as Reported | 41.12M | 41.12M | 44.29M | 19.76M | 7.80M | 8.01M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 21.95M | 21.95M | 23.43M | 1.93M | 4.88M | 14.79M |
| Short-Term Investments | 2.60M | 2.60M | 4.59M | 1.83M | 1.22M | 905.00K |
| Cash & Short-Term Investments | 24.55M | 24.55M | 28.02M | 3.75M | 6.10M | 15.69M |
| Accounts Receivable | 23.25M | 23.25M | 10.37M | 15.75M | 1.62M | 193.00K |
| Other Receivables | 52.77M | 52.77M | 23.38M | 9.29M | 9.41M | 6.93M |
| Receivables | 96.36M | 96.36M | 55.06M | 43.86M | 32.66M | 11.12M |
| Inventory | 12.29M | 12.29M | 9.87M | 5.44M | 5.46M | 13.45M |
| Restricted Cash | 343.00K | 343.00K | 1.24M | 34.31M | 1.03M | 10.90M |
| Other Current Assets | 13.86M | 13.86M | 10.88M | 75.83M | 8.77M | 77.14M |
| Total Current Assets | 147.40M | 147.40M | 105.08M | 163.20M | 54.01M | 128.30M |
| Property, Plant & Equipment | 18.41M | 18.41M | 24.86M | 33.42M | 35.53M | 35.76M |
| Long-Term Investments | 133.94M | 133.94M | 134.11M | 123.37M | 111.81M | 110.00M |
| Other Intangible Assets | 62.00K | 62.00K | 132.00K | 201.00K | 286.00K | 608.00K |
| Other Long-Term Assets | 54.00K | 54.00K | 39.80M | 72.77M | 80.18M | 79.00M |
| Total Assets | 378.80M | 378.80M | 385.71M | 428.99M | 281.85M | 353.67M |
| Accounts Payable | 19.53M | 19.53M | 14.31M | 10.23M | 11.13M | 9.80M |
| Accrued Expenses | 26.81M | 26.81M | 5.39M | 7.18M | 13.41M | 2.22M |
| Short-Term Debt | 15.35M | 15.35M | 19.96M | 28.02M | 13.10M | 1.85M |
| Current Portion of Long-Term Debt | 5.80M | 5.80M | 2.80M | 9.50M | 6.50M | 1.50M |
| Current Portion of Leases | 1.25M | 1.25M | 1.84M | 1.75M | 1.70M | 4.32M |
| Current Income Taxes Payable | 7.95M | 7.95M | 5.17M | 5.20M | 2.58M | 2.58M |
| Other Current Liabilities | 5.18M | 5.18M | 7.43M | 12.99M | 10.73M | 54.55M |
| Total Current Liabilities | 81.86M | 81.86M | 56.90M | 74.88M | 59.15M | 76.82M |
| Long-Term Debt | 3.70M | 10.00M | 15.50M | |||
| Long-Term Leases | 2.36M | 2.36M | 4.14M | 5.98M | 4.79M | 3.67M |
| Other Long-Term Liabilities | 5.80M | 5.80M | 3.51M | 2.90M | ||
| Total Liabilities | 90.03M | 90.03M | 64.73M | 84.37M | 76.84M | 95.99M |
| Additional Paid-In Capital | 565.07M | 565.07M | 512.57M | 479.40M | 319.77M | 319.77M |
| Retained Earnings | -289.82M | -289.82M | -221.10M | -173.18M | -153.84M | -107.92M |
| Comprehensive Income & Other | -4.23M | -4.23M | 446.00K | |||
| Total Common Equity | 271.02M | 271.02M | 291.47M | 306.67M | 165.94M | 211.86M |
| Minority Interest | 17.75M | 17.75M | 29.51M | 37.95M | 39.08M | 45.82M |
| Shareholders' Equity | 288.77M | 288.77M | 320.98M | 344.62M | 205.01M | 257.68M |
| Total Liabilities & Equity | 378.80M | 378.80M | 385.71M | 428.99M | 281.85M | 353.67M |
| Total Debt | 24.76M | 24.76M | 32.44M | 45.25M | 36.09M | 26.83M |
| Net Cash (Debt) | -207.00K | -207.00K | -4.41M | -41.49M | -29.99M | -11.14M |
| Net Cash Per Share | -9.06 | -9.06 | -309.26 | |||
| Filing Date Shares Outstanding | 24.86K | 24.86K | 16.89K | 12.30K | 2.50K | 2.50K |
| Total Common Shares Outstanding | 24.86K | 24.86K | 16.89K | 6.22K | 2.50K | 2.50K |
| Working Capital | 65.54M | 65.54M | 48.18M | 88.32M | -5.14M | 51.48M |
| Book Value Per Share | 10,903.17 | 10,903.17 | 17,255.94 | 49,335.59 | 66,374.80 | 84,743.20 |
| Tangible Book Value | 270.96M | 270.96M | 291.34M | 306.47M | 165.65M | 211.25M |
| Tangible Book Value Per Share | 10,900.67 | 10,900.67 | 17,248.12 | 49,303.25 | 66,260.40 | 84,500.00 |
| Machinery | 21.38M | 21.38M | 19.57M | 18.53M | 17.74M | 11.66M |
| Construction In Progress | 105.00K | 105.00K | 1.06M | 1.95M | ||
| Leasehold Improvements | 549.00K | 549.00K | 534.00K | 754.00K | 754.00K | 857.00K |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -68.72M | -68.72M | -47.92M | -19.34M | -45.92M | -41.40M |
| Depreciation & Amortization | 8.38M | 8.38M | 8.44M | 8.33M | 7.70M | 5.22M |
| Other Amortization | 70.00K | 70.00K | 69.00K | |||
| Asset Writedown & Restructuring Costs | 1.90M | |||||
| Loss (Gain) From Sale of Investments | 10.50M | 100.00K | ||||
| Loss (Gain) on Equity Investments | -339.00K | -339.00K | 295.00K | 94.00K | 39.00K | |
| Provision & Write-off of Bad Debts | 12.60M | 12.60M | 5.26M | 1.20M | 9.80M | |
| Other Operating Activities | -11.76M | -11.76M | -8.52M | -6.13M | -9.82M | -7.67M |
| Change in Accounts Receivable | -14.22M | -14.22M | 3.81M | -14.17M | -1.42M | -181.00K |
| Change in Inventory | -5.30M | -5.30M | -2.85M | -3.82M | 68.89M | -84.40M |
| Change in Accounts Payable | 5.23M | 5.23M | 4.08M | -899.00K | 1.33M | 8.49M |
| Change in Unearned Revenue | 2.13M | 2.13M | -1.45M | -721.00K | -50.42M | 44.96M |
| Change in Income Taxes | 2.78M | 2.78M | -31.00K | 2.62M | -3.00K | 2.58M |
| Change in Other Net Operating Assets | -724.00K | -724.00K | -44.85M | -34.60M | 6.92M | -9.84M |
| Operating Cash Flow | -69.89M | -69.89M | -73.17M | -65.44M | -12.89M | -82.23M |
| Capital Expenditures | -500.00K | -500.00K | -10.00K | -881.00K | -7.77M | -9.57M |
| Sale of Property, Plant & Equipment | 130.00K | |||||
| Sale (Purchase) of Intangibles | -31.00K | -1.42M | ||||
| Investment in Securities | 29.00K | 29.00K | -736.00K | -11.75M | -1.85M | 10.00M |
| Other Investing Activities | -39.21M | -39.21M | -45.60M | -331.00K | ||
| Investing Cash Flow | 23.83M | 23.83M | 49.09M | -84.08M | -11.39M | -14.76M |
| Short-Term Debt Issued | 2.00M | 2.00M | 10.17M | 5.00M | ||
| Long-Term Debt Issued | 15.01M | 11.00M | ||||
| Total Debt Issued | 2.00M | 2.00M | 10.17M | 20.01M | 11.00M | |
| Short-Term Debt Repaid | -3.00M | |||||
| Long-Term Debt Repaid | -7.42M | -7.42M | -23.09M | -1.80M | -500.00K | -13.00M |
| Total Debt Repaid | -7.42M | -7.42M | -23.09M | -1.80M | -500.00K | -16.00M |
| Net Debt Issued (Repaid) | -5.42M | -5.42M | -12.91M | 18.21M | -500.00K | -5.00M |
| Issuance of Common Stock | 52.50M | 52.50M | 25.87M | 156.20M | ||
| Other Financing Activities | 5.00M | 5.00M | 999.00K | |||
| Financing Cash Flow | 47.09M | 47.09M | 12.96M | 179.40M | 4.50M | -4.00M |
| Foreign Exchange Rate Adjustments | -3.40M | -3.40M | -446.00K | 446.00K | ||
| Net Cash Flow | -2.38M | -2.38M | -11.56M | 30.33M | -19.78M | -100.99M |
| Free Cash Flow | -70.39M | -70.39M | -73.18M | -66.32M | -20.66M | -91.80M |
| Free Cash Flow Margin | -171.17% | -171.17% | -165.23% | -335.57% | -265.02% | -1,146.09% |
| Free Cash Flow Per Share | -3,082.45 | -3,082.45 | -5,127.16 | |||
| Levered Free Cash Flow | -47.22M | -47.22M | 57.02M | -129.30M | -2.34M | -76.49M |
| Unlevered Free Cash Flow | -47.10M | -47.10M | 57.89M | -128.14M | -1.86M | -76.05M |
| Change in Working Capital | -10.12M | -10.12M | -41.30M | -51.59M | 25.30M | -38.39M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.32M | 7.56M | 22.40M | 9.63M | ||
| Enterprise Value | 5.35M | 11.46M | 26.71M | 5.98M | ||
| Last Close Price | 3.00 | 303.98 | 1,326.14 | 3,670.00 | ||
| PS Ratio | 0.91 | 1.28 | 3.69 | 3.46 | ||
| PB Ratio | 0.00 | 0.18 | 0.51 | 0.20 | ||
| P/TBV Ratio | 0.14 | 0.20 | 0.56 | 0.22 | ||
| EV/Sales Ratio | 0.91 | 1.95 | 4.40 | 2.15 | ||
| Debt / Equity Ratio | 0.09 | 0.09 | 0.10 | 0.13 | 0.18 | 0.10 |
| Net Debt / Equity Ratio | 0.00 | 0.00 | 0.01 | 0.12 | 0.15 | 0.04 |
| Net Debt / EBITDA Ratio | -0.00 | -0.00 | -0.10 | -1.28 | -0.55 | -0.26 |
| Net Debt / FCF Ratio | -0.00 | -0.00 | -0.06 | -0.63 | -1.45 | -0.12 |
| Asset Turnover | 0.11 | 0.11 | 0.11 | 0.06 | 0.03 | 0.02 |
| Inventory Turnover | 2.37 | 2.37 | 4.42 | 1.39 | 0.54 | 0.75 |
| Quick Ratio | 1.23 | 1.23 | 1.09 | 0.38 | 0.29 | 0.30 |
| Current Ratio | 1.80 | 1.80 | 1.85 | 2.18 | 0.91 | 1.67 |
| Return on Equity (ROE) | -26.40% | -26.40% | -16.94% | -9.27% | -24.93% | -17.91% |
| Return on Assets (ROA) | -9.53% | -9.53% | -7.29% | -6.14% | -11.06% | -8.23% |
| Return on Capital Employed (ROCE) | -19.60% | -19.60% | -14.40% | -9.90% | -25.30% | -16.20% |
| Earnings Yield | -14,343.64% | -130.03% | -29.31% | -28.31% | ||
| FCF Yield | -198.79% | -133.20% | -44.76% | -97.09% | ||
| Buyback Yield / Dilution | -60.00% | -60.00% |