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U Power Limited Announces US$16 Million Private Placement Subscribed by Existing Shareholders

HONG KONG, Aug. 4, 2026 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of AI-integrated solutions for next-generation energy grids and intelligent transportation systems, today announced that on August 3, 2026, it entered into subscription agreements (the "Subscription Agreements") with four existing shareholders for the sale of 9,756,100 Class A Ordinary Shares (each, a "Share" and, collectively, the "Shares") of the Company at US$1.64 per Share, for aggregate gross proceeds of US$16 million (the "Transaction"), in reliance upon Regulation S under the Securities Act of 1933, as amended ("Regulation S"). The Shares are being offered for the account of the Company to certain of its existing shareholders in an offshore transaction pursuant to Regulation S.