U Power (UCAR) Cash Flow: Operating & Free Cash Flow

U Power Cash Flow Statement Analysis

Values in millions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities 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
Operating Activities
Net Income	-80.48	-56.36	-25.47	-57.67	-49.06	-6.53
Depreciation & Amortization	8.45	8.51	8.33	7.70	5.22	1.41
Change in Working Capital	-10.12	-41.30	-51.59	25.30	-38.39	-17.27
Change in Accounts Receivable	-11.55	3.81	-14.17	-1.42	-0.18	0.38
Change in Inventory	-2.42	-4.35	0.11	7.81	-13.25	0.21
Change in Accounts Payable	4.77	4.08	6.90	1.47	10.48	0.17
Change in Other Working Capital	-1.38	-41.49	-23.42	35.85	3.45	2.93
Other Operating Activities	12.26	15.98	3.29	11.77	3.45	-1.02
Net Cash from Operating Activities	-69.89	-73.17	-65.44	-12.89	-82.23	-22.39
Investing Activities
Capital Expenditures	-0.50	-0.01	-0.88	-7.80	-11.00	-1.33
Purchases of Investments	0.00	-0.74	-11.75	-1.85	0.00	-120.00
Sales/Maturities of Investments	39.77	32.98	7.41	2.12	13.61	0.00
Other Investing Activities	-15.44	48.97	-83.20	-3.59	-3.76	-131.81
Net Cash from Investing Activities	23.83	49.09	-84.08	-11.39	-14.76	-133.14
Financing Activities
Debt Repayment	-7.42	-23.09	-1.80	-0.50	-16.00	20.00
Common Stock Issued	52.50	25.87	156.20	0.00	1.00	255.62
Other Financing Activities	0.00	0.00	5.00	5.00	1.00	275.62
Net Cash from Financing Activities	47.09	12.96	179.40	4.50	-4.00	275.62
Summary
Effect of Forex Changes on Cash	-3.40	-0.45	0.45	0.00	0.00	0.00
Net Change in Cash	1.02	-11.57	29.89	-19.78	-100.99	120.08
Cash at Beginning of Period	24.67	36.24	5.91	25.69	126.68	6.60
Cash at End of Period	22.29	24.67	36.24	5.91	25.69	126.68
Free Cash Flow	-70.39	-73.18	-66.32	-20.69	-93.23	-23.73

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 Cash Flow

What is U Power's free cash flow?

U Power had negative free cash flow of CNY 70.39M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −CNY 69.89M minus CNY 500.00K of capital expenditures.

How much does U Power spend on capital expenditures?

U Power spent CNY 500.00K on capital expenditures in fiscal 2025, compared with CNY 10.00K a year earlier.

Does U Power pay dividends or buy back shares?

U Power's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition