U Power (UCAR) Balance Sheet: Assets & Liabilities

U Power (UCAR) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), U Power reported total assets of CNY 378.80M and total liabilities of CNY 90.03M. Shareholders' equity was CNY 288.77M, down 0.9% from CNY 291.47M a year earlier. Total debt stood at CNY 23.51M against CNY 24.55M in cash and short-term investments, a net cash position of CNY 1.04M. That puts debt-to-equity at 0.08, compared with 0.09 a year earlier.

U Power Balance Sheet Analysis

Values in millions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for U Power Limited (UCAR) - Annual data in millions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Current Assets
Cash and Cash Equivalents	21.95	23.44	1.93	4.88	14.79	121.43
Short-Term Investments	2.60	4.59	1.83	1.22	0.00	0.81
Cash & Short-Term Investments	24.55	23.44	3.76	6.10	14.79	121.43
Accounts Receivable	22.20	10.37	15.75	1.62	0.19	0.01
Inventory	12.29	9.87	5.44	5.46	13.45	0.20
Other Current Assets	1.98	0.71	140.08	42.06	98.97	13.69
Total Current Assets	147.40	105.08	163.20	54.01	128.30	135.33
Non-Current Assets
Property, Plant & Equipment (Net)	18.41	24.86	33.42	35.53	35.76	5.49
Long-Term Investments	133.94	134.11	123.37	111.81	110.00	120.00
Intangible Assets	0.06	0.13	0.20	0.29	0.61	0.05
Other Non-Current Assets	78.98	121.53	108.80	80.21	0.19	67.85
Total Non-Current Assets	231.39	280.64	265.79	227.84	225.37	193.38
Total Assets	378.80	385.71	428.99	281.85	353.67	328.71
Current Liabilities
Accounts Payable	19.53	14.31	10.23	11.13	9.80	1.31
Short-Term Debt	21.15	22.76	14.50	6.50	7.66	3.00
Current Portion of Long-Term Debt	-	2.80	9.50	6.50	1.50	13.00
Accrued Liabilities	17.35	0.33	35.23	33.74	4.84	1.66
Deferred Revenue	3.58	1.45	2.54	3.26	53.98	8.71
Other Current Liabilities	0.56	0.44	10.63	2.83	56.78	0.15
Total Current Liabilities	81.86	56.90	74.88	59.15	76.82	29.31
Non-Current Liabilities
Long-Term Debt	2.36	3.70	5.98	10.00	19.17	7.00
Other Non-Current Liabilities	5.80	0.00	3.51	2.90	0.00	0.00
Total Non-Current Liabilities	8.16	7.84	5.98	14.79	19.17	9.32
Total Liabilities	90.03	64.73	84.37	76.84	95.99	38.63
Stockholders' Equity
Retained Earnings	-289.82	-221.10	-173.18	-153.84	-107.92	-66.52
Accumulated Other Comprehensive Income	-4.23	0.00	0.45	-	-	0.00
Additional Paid-in Capital	565.07	512.57	479.40	319.78	319.78	305.71
Minority Interest	17.75	29.51	37.95	39.08	45.82	50.89
Shares Outstanding	0.50	0.34	0.12	0.05	0.52	-
Total Stockholders' Equity	288.77	291.47	344.62	205.02	211.86	290.08
Total Liabilities & Equity	378.80	385.71	428.99	281.85	353.67	328.71

Source: Company financial statements from annual and quarterly filings. Data as of Dec 31, 2025. Data sources and methodology

Frequently Asked Questions About U Power Balance Sheet

How much debt does U Power have?

U Power had total debt of CNY 23.51M as of Dec 31, 2025, against CNY 24.55M in cash and short-term investments. Its debt-to-equity ratio was 0.08. Total debt was CNY 26.46M a year earlier.

What are U Power's total assets?

U Power reported total assets of CNY 378.80M as of Dec 31, 2025, down 1.8% from CNY 385.71M a year earlier. Total liabilities were CNY 90.03M.

What is U Power's shareholders' equity?

U Power's shareholders' equity was CNY 288.77M as of Dec 31, 2025, or about CNY 580.86 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition