U Power Ltd (UCAR) stock

UCARNasdaqMiscellaneous Electrical Machinery, Equipment & SuppliesFiscal year ends December 31

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on May 15, 2026Score 6/30

$2.95+0.02 (+0.68%)

Close on Nov 13, 2026Market cap $14.67MP/E –Yield –

U Power r&d expenses

Research and development expenses are spending on new products and technology.

For fiscal 2025 it was CN¥4.60M, up 54.0% from the year before. The highest annual figure on record is CN¥9.35M in fiscal 2022.

Period	Period end	Value	Change
FY2025	Dec 31, 2025	CN¥4.60M	+54.0%
FY2024	Dec 31, 2024	CN¥2.99M	+36.7%
FY2023	Dec 31, 2023	CN¥2.18M	-76.6%
FY2022	Dec 31, 2022	CN¥9.35M	+74.0%
FY2021	Dec 31, 2021	CN¥5.37M	+4741.4%
FY2020	Dec 31, 2020	CN¥111.00K	–

Trailing twelve months. Peers are matched on business description, industry and size. Ticks are peers, the dot is UCAR.

Revenue growth-7.1% · median -26.7%

Gross margin36.3% · median 27.3%

Operating margin-141.7% · median -31.5%

Net margin-167.1% · median -72.9%

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