UCAR revenueFY2025CN¥41.13M
- FY YoY
- -7.1%
- 5Y CAGR
- +94.9%
UCAR revenue was CN¥41.13M for fiscal 2025 (ended Dec 31, 2025), down 7.1% from fiscal 2024. Compound annual growth was +94.9% over 5 years. It rose in 3 of the last 5 fiscal years.
U Power Limited (UCAR) financials
For fiscal 2025 (ended Dec 31, 2025), U Power Limited reported CN¥41.13M of revenue and -CN¥68.72M of net income. Figures are in CNY, the currency of its SEC filings.
- Revenue, FY2025
- CN¥41.13M
- Revenue growth, YoY
- -7.1%
- Net income, FY2025
- -CN¥68.72M
- Net margin
- -167.1%
- Free cash flow, FY2025
- -CN¥70.39M
- EPS, diluted, FY2025
- -CN¥15.05
- Cash
- CN¥21.95M
FY2020FY2025
FY2020FY2025
FY2020FY2025
UCAR revenue and earnings growth
UCAR net incomeFY2025-CN¥68.72M
UCAR net income was -CN¥68.72M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥47.92M in fiscal 2024.
UCAR EPSFY2025-CN¥15.05
UCAR diluted EPS was -CN¥15.05 for fiscal 2025 (ended Dec 31, 2025).
UCAR free cash flowFY2025-CN¥70.39M
UCAR free cash flow was -CN¥70.39M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥73.18M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue | CN¥41.13M | CN¥44.29M | CN¥19.76M | CN¥7.80M | CN¥8.01M | CN¥1.46M |
| Cost of revenue | CN¥26.21M | CN¥33.83M | CN¥7.59M | CN¥5.14M | CN¥5.14M | - |
| Gross profit | CN¥14.92M | CN¥10.46M | CN¥12.17M | CN¥2.66M | CN¥2.87M | CN¥1.46M |
| Research and development | CN¥4.60M | CN¥2.98M | CN¥2.18M | CN¥9.35M | CN¥5.37M | CN¥111.0K |
| Selling, general and admin | CN¥52.63M | CN¥46.91M | CN¥41.22M | CN¥37.71M | CN¥37.59M | CN¥14.07M |
| Operating income | -CN¥58.27M | -CN¥57.99M | -CN¥36.90M | -CN¥56.25M | -CN¥44.95M | -CN¥16.01M |
| Interest expense | CN¥188.0K | CN¥1.40M | CN¥1.86M | CN¥764.0K | CN¥696.0K | - |
| Pre-tax income | -CN¥76.90M | -CN¥56.36M | -CN¥22.85M | -CN¥57.66M | -CN¥46.48M | -CN¥6.53M |
| Income tax | CN¥3.58M | - | CN¥2.61M | CN¥5.0K | CN¥2.58M | - |
| Net income | -CN¥68.72M | -CN¥47.92M | -CN¥19.34M | -CN¥45.92M | -CN¥41.40M | -CN¥5.51M |
| EPS, basic | -CN¥15.05 | -CN¥16.79 | -CN¥15.56 | -CN¥91.84 | -CN¥82.80 | -CN¥0.11 |
| EPS, diluted | -CN¥15.05 | -CN¥16.79 | -CN¥15.56 | -CN¥91.84 | -CN¥8.28 | -CN¥0.11 |
| Diluted shares | 4.6M | 2.9M | 1.2M | 500,000 | 500,000 | 50.0M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | CN¥21.95M | CN¥23.43M | CN¥36.24M | CN¥5.91M | CN¥25.69M | CN¥126.68M |
| Receivables | CN¥22.20M | CN¥10.37M | CN¥15.75M | CN¥1.62M | CN¥193.0K | - |
| Inventory | CN¥12.29M | CN¥9.87M | CN¥5.44M | CN¥5.46M | CN¥13.45M | - |
| Current assets | CN¥147.40M | CN¥105.08M | CN¥163.20M | CN¥54.01M | CN¥128.30M | - |
| Total assets | CN¥378.80M | CN¥385.71M | CN¥428.99M | CN¥281.85M | CN¥353.67M | - |
| Current liabilities | CN¥81.86M | CN¥56.90M | CN¥74.88M | CN¥59.15M | CN¥76.82M | - |
| Short-term debt | CN¥18.97M | CN¥17.97M | CN¥9.50M | - | - | - |
| Long-term debt | - | - | - | CN¥10.00M | CN¥9.00M | - |
| Total debt | - | - | - | CN¥10.00M | CN¥9.00M | - |
| Total liabilities | CN¥84.23M | CN¥64.73M | CN¥80.86M | CN¥73.94M | CN¥95.99M | - |
| Shareholders' equity | CN¥271.02M | CN¥291.47M | CN¥344.62M | CN¥205.01M | CN¥257.68M | CN¥290.08M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -CN¥69.89M | -CN¥73.17M | -CN¥65.44M | -CN¥12.89M | -CN¥82.23M | -CN¥22.39M |
| Capital expenditures | CN¥500.0K | CN¥10.0K | CN¥881.0K | CN¥7.77M | CN¥9.57M | CN¥1.33M |
| Free cash flow | -CN¥70.39M | -CN¥73.18M | -CN¥66.32M | -CN¥20.66M | -CN¥91.80M | -CN¥23.73M |
| Investing cash flow | CN¥23.83M | CN¥49.09M | -CN¥84.08M | -CN¥11.39M | -CN¥14.76M | -CN¥133.14M |
| Financing cash flow | CN¥47.09M | CN¥12.96M | CN¥179.40M | CN¥4.50M | -CN¥4.00M | CN¥275.62M |
| Depreciation and amortization | CN¥2.11M | CN¥3.06M | CN¥2.61M | CN¥2.09M | CN¥1.77M | CN¥786.0K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue growth, YoY | -7.1% | 124.1% | 153.5% | -2.7% | 447.1% | - |
| Gross margin | 36.3% | 23.6% | 61.6% | 34.1% | 35.9% | 100.0% |
| Operating margin | -141.7% | -130.9% | -186.7% | -721.5% | -561.2% | -1093.7% |
| Net margin | -167.1% | -108.2% | -97.8% | -589.0% | -516.8% | -376.4% |
| Free cash flow margin | -171.2% | -165.2% | -335.6% | -265.0% | -1146.1% | -1620.6% |
| Return on equity | -25.4% | -16.4% | -5.6% | -22.4% | -16.1% | -1.9% |
| Return on assets | -18.1% | -12.4% | -4.5% | -16.3% | -11.7% | - |
| Current ratio | 1.80 | 1.85 | 2.18 | 0.91 | 1.67 | - |
| Debt to equity | - | - | - | 0.05 | 0.03 | - |
Source: XBRL data U Power Limited files with the SEC, latest filing dated May 15, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
UCAR peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| UCAR | CN¥41.13M | -7.1% | -CN¥68.72M | -167.1% | $5.2M |
| ASML | €32.67B | +15.6% | €9.61B | 29.4% | $581.15B |
| LRCX | $26.13B | +33.4% | $8.45B | 32.3% | $277.80B |
| TMO | $47.35B | +8.3% | $7.07B | 14.9% | $266.10B |
| DE | $47.98B | +8.0% | $4.87B | 10.2% | $185.41B |
| DHR | $25.61B | +5.5% | $4.33B | 16.9% | $166.11B |
| ETN | $31.98B | +20.1% | $3.90B | 12.2% | $137.61B |
| JCI | $24.43B | +5.1% | $3.53B | 14.5% | $85.48B |
| ITW | $16.65B | +4.8% | $3.23B | 19.4% | $81.86B |
UCAR FAQ
9 questionsWhat is UCAR revenue?
U Power Limited (UCAR) reported CN¥41.13M of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 7.1% from the year before.Is UCAR profitable?
No. U Power Limited reported a net loss of CN¥68.72M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does UCAR have?
U Power Limited reported CN¥21.95M in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is UCAR revenue growing?
U Power Limited's revenue changed -7.1% in fiscal 2025, to CN¥41.13M. Its compound annual growth rate was +94.9% over 5 years.What is UCAR gross margin?
U Power Limited's gross profit was CN¥14.92M on CN¥41.13M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 36.3%.What is UCAR free cash flow?
U Power Limited generated -CN¥70.39M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -CN¥69.89M less capital expenditures.What is UCAR earnings per share?
Diluted earnings per share were -CN¥15.05 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did UCAR last report financial results?
The latest statements here come from U Power Limited's 20-F filed on May 15, 2026, covering the period ended Dec 31, 2025.Where does this UCAR financial data come from?
Quantisnow builds these statements from the structured XBRL data U Power Limited files with the SEC. It is provided for information only and is not investment advice.