U Power Ltd

U Power Ltd announced the resignation of Jean Christophe Baron Von Pfetten as an independent director and from all board committees, effective June 30, 2026. His resignation was not due to any disagreements. To fill the vacancy, the Board appointed Bo Lyu as an independent director, effective July 1, 2026. Mr. Lyu will also serve on the audit, compensation, and nominating and corporate governance committees, bringing over 10 years of experience in corporate financing and public company management.

U Power Ltd has entered into a joint venture agreement to establish Hydro Data Limited, focused on providing AI-driven energy management solutions for data centers. This joint venture subsequently secured an agreement with CEWA Group and Guofu Hydrogen Energy for the development of an integrated energy solution for a 100MW intelligence data center project in Rayong, Thailand. The project will begin with a 3MW pilot by the end of 2026, aiming to expand U Power's presence in Southeast Asia's growing data center market and generate recurring revenue.

U Power Ltd. announced the cancellation of its Extraordinary General Meeting of Shareholders. The meeting was initially scheduled to take place on May 19, 2026. The company has furnished a Notice of Cancellation, dated May 12, 2026, which will be distributed to its shareholders.

U Power Ltd. announced an Extraordinary General Meeting of Shareholders (EGM) scheduled for May 19, 2026. In connection with this meeting, the company furnished the Notice and Proxy Statement, along with the Form of Proxy Card to be mailed to shareholders.

U Power Ltd (UCAR) entered into a Subscription Agreement with Guofu Hydrogen Energy (Hong Kong) Development Co., Limited on April 27, 2026. The agreement involves the sale of Class A Ordinary Shares for a total purchase price of $3,600,000 at $1.64 per share. These securities are offered to non-U.S. persons under Regulation S and are not registered under the Securities Act. The purchaser will receive demand registration rights for the acquired shares after a restricted period.