U Power Limited, known as U Power (UCAR), has announced a significant change in its stock structure with a 1-for-100 reverse stock split, scheduled to take effect on April 3, 2024. This corporate action will convert each existing UCAR Ordinary Share into 0.01 new U Power Limited Ordinary Shares. The adjustment will be reflected in the market as the stock option symbol changes from UCAR to UCAR1. The reverse split aims to consolidate shares and potentially increase the stock's market price, which is a common strategy for companies seeking to attract new investors or to comply with stock exchange listing requirements. The new CUSIP number for the post-split shares will be G9520U116. The Options Clearing Corporation (OCC) has provided details on the contract adjustments, including a new multiplier and deliverable per contract, but has also issued a disclaimer advising investors to independently verify the corporate event details.

U Power Limited, known as U Power (UCAR), has announced a significant change in its stock structure with a 1-for-100 reverse stock split, scheduled to take effect on April 3, 2024. This corporate action will convert each existing UCAR Ordinary Share into 0.01 new U Power Limited Ordinary Shares. The adjustment will be reflected in the market as the stock option symbol changes from UCAR to UCAR1. The reverse split aims to consolidate shares and potentially increase the stock's market price, which is a common strategy for companies seeking to attract new investors or to comply with stock exchange listing requirements. The new CUSIP number for the post-split shares will be G9520U116. The Options Clearing Corporation (OCC) has provided details on the contract adjustments, including a new multiplier and deliverable per contract, but has also issued a disclaimer advising investors to independently verify the corporate event details.