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U Power Priced, Nasdaq: UCAR

Launching automated battery-swapping stations for electric vehicles in China.

Industry: Industrials

Latest Trade: $7.98 0.00 (0.0%)

First Day Return: +619.7%

Return from IPO: -98.7%

Industry: Industrials

Since our commencement of operations in 2013, we have principally engaged in the provision of vehicle sourcing services. We broker sales of vehicles between automobile wholesalers and buyers, including small and medium sized vehicle dealers (“SME dealers”) and individual customers primarily located in the lower-tier cities in China, which are smaller and less developed than the tier-1 or tier-2 cities. To that end, we have focused on building business relationships with our sourcing partners and have developed a vehicle sourcing network. As of the date of this prospectus, our vehicle sourcing network consisted of approximately 100 wholesalers and 30 SME dealers located in lower-tier cities in China. Beginning in 2020, we gradually shifted our focus from the vehicle sourcing business to the development of our proprietary battery-swapping technology, or UOTTA technology. We have established in-house capabilities in the innovation of EV battery-swapping technology. Through our research and development efforts, we are developing an intellectual property portfolio. As of the date of this prospectus, we had 14 issued patents and 24 pending patent applications in China. Our research and development team is committed to technology innovation. As of the date of the prospectus, our research and development team consisted of 34 personnel and is led by Mr. Rui Wang and Mr. Zhanduo Hao, each of whom has experience of over 20 years in the electric power sector.
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IPO Data
IPO File Date 12/22/2022
Offer Price $6.00
Price Range $6.00 - $8.00
Offer Shares (mm) 2.4
Deal Size ($mm) $15
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/19/2023
Offer Price $6.00
Price Range $6.00 - $8.00
Offer Shares (mm) 2.4
Deal Size ($mm) $15
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
WestPark Capital
Orientiert XYZ Securities
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Company Data
Headquarters Shanghai, China
Founded 2013
Employees at IPO 121
Website www.upincar.com

U Power (UCAR) Performance