U Power Limited held its 2024 annual general meeting on August 13, 2024, where shareholders approved significant changes to the company's share capital structure. The meeting achieved quorum with 1,554,726 ordinary shares represented out of 3,378,188 outstanding shares.The approved resolutions include the establishment of a dual-class share structure, with Class A ordinary shares carrying one vote each and Class B ordinary shares carrying 20 votes each. Specifically, 588,188 shares held by key shareholders will be converted to Class B shares, while the remaining issued shares will become Class A shares. The authorized share capital remains at US$50,000, divided between 3.99 billion Class A shares and 1 billion Class B shares.Shareholders also approved the adoption of a second amended and restated memorandum and articles of association. Both resolutions passed with substantial majority support, with the share structure change receiving 1,192,530 votes in favor and the articles amendment garnering 1,202,900 supporting votes.

U Power Limited held its 2024 annual general meeting on August 13, 2024, where shareholders approved significant changes to the company's share capital structure. The meeting achieved quorum with 1,554,726 ordinary shares represented out of 3,378,188 outstanding shares.The approved resolutions include the establishment of a dual-class share structure, with Class A ordinary shares carrying one vote each and Class B ordinary shares carrying 20 votes each. Specifically, 588,188 shares held by key shareholders will be converted to Class B shares, while the remaining issued shares will become Class A shares. The authorized share capital remains at US$50,000, divided between 3.99 billion Class A shares and 1 billion Class B shares.Shareholders also approved the adoption of a second amended and restated memorandum and articles of association. Both resolutions passed with substantial majority support, with the share structure change receiving 1,192,530 votes in favor and the articles amendment garnering 1,202,900 supporting votes.