2024Q2: U Power Limited sees 595.7% revenue increase to RMB13.2m ($1.8m) from battery-swapping station orders, while operating expenses rise 26.

U Power Limited, a Chinese vehicle sourcing and EV battery solutions provider, reported a 595.7% revenue increase to RMB13.2 million (US$1.8 million) in the first half of 2024, driven by higher orders for battery-swapping stations. Despite a net loss widening to RMB26.5 million, the company emphasized responsible financial management and strategic investments. Total operating expenses rose 26.8% to RMB27.7 million, while gross profit slightly decreased to RMB1.3 million.

October 08, 2024
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