Summary by Moomoo AI
On December 31, 2023, Jia Li, a Chinese national, filed a Schedule 13G with the United States Securities and Exchange Commission (SEC), indicating a significant ownership stake in U Power Limited, a company with ordinary shares listed under the CUSIP number G9520U108. The filing, which was made public on February 14, 2024, reveals that Jia Li has a shared voting and dispositive power over 37,854,400 ordinary shares of U Power, representing 19.79% of the company's class. These shares are held through three British Virgin Islands entities: U Trend Limited, Upincar Limited, and U Create Limited, all of which are wholly owned by Jia Li. U Trend Limited holds 15,785,900 shares (8.25% of the class), Upincar Limited holds 14,943,500 shares (7.81% of the class), and U Create Limited holds the remaining shares. The total number of ordinary shares outstanding as of February 13, 2024, is 191,243,671. The filing was made under Rule 13d-1(d) of the Securities Exchange Act of 1934, which is used for passive investors who acquire more than 5% of a company's shares.