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Unaudited Condensed Consolidated Balance Sheets
¥ in Thousands, $ in Thousands
Jun. 30, 2024
CNY (¥)
Jun. 30, 2024
USD ($)
Dec. 31, 2023
CNY (¥)
Current assets:      
Cash and cash equivalents ¥ 39,615 $ 5,451 ¥ 1,927
Restricted cash 900 124 34,312
Accounts receivable 18,553 2,553 15,748
Inventories 5,990 824 5,439
Advance to suppliers 11,251 1,548 10,816
Other current assets 75,966 10,454 94,813
Amount due from related parties 406 56 142
Total current assets 152,681 21,010 163,197
Non-current assets:      
Property, plant and equipment, net 9,506 1,308 11,764
Intangible assets, net 167 23 201
Operating lease right-of-use assets, net 18,855 2,595 21,656
Long-term investments 143,912 19,803 123,367
Refundable deposit for investment 58,953 8,112 72,774
Other non-current assets 36,865 5,073 36,029
Total non-current assets 268,258 36,914 265,791
Total assets 420,939 57,924 428,988
Current liabilities:      
Short-term bank borrowing 5,000 688 5,000
Current portion of long-term borrowing 9,000 1,238 9,500
Accounts payable 18,134 2,495 10,231
Accrued expenses and other liabilities 29,085 4,003 35,231
Income tax payables 5,200 716 5,201
Advances from customers 1,299 179 2,537
Operating lease liabilities – current 1,811 249 1,750
Amount due to related parties 291 40 5,431
Total current liabilities 69,820 9,608 74,881
Non-current liabilities:      
Operating lease liabilities – non-current 5,054 695 5,980
Total non-current liabilities 5,054 695 5,980
Total liabilities 74,874 10,303 80,861
Commitments and contingencies 3,507
Shareholders’ equity:      
Ordinary shares (US$0.0000001 par value; 500,000,000,000 shares authorized; 1,243,140 and 3,168,544 issued and outstanding as of December 31, 2023 and June 30, 2024, respectively)
Additional paid-in capital 507,807 69,877 479,400
Translation reserve 446
Accumulated deficit (196,701) (27,067) (173,176)
Total U POWER LIMITED’s shareholders’ equity 311,106 42,810 306,670
Non-controlling interests 34,959 4,811 37,950
Total equity 346,065 47,621 344,620
Total liabilities and equity ¥ 420,939 $ 57,924 ¥ 428,988