{"url_path":"/sec/ucar/10-k/2026/item-16g","section_key":"item-16g","section_title":"Item 16G CORPORATE GOVERNANCE**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1939780/0001213900-26-057792-index.html","accession_number":"0001213900-26-057792","cik":"0001939780","ticker":"UCAR","issuer_name":"U Power Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1939780/0001213900-26-057792-index.html","primary_entity_key":"0001939780","primary_entity_name":"U Power Ltd"},"word_count":351,"has_tables":true,"body_markdown":"**Item\n16G. CORPORATE GOVERNANCE**\n\n \n\nAs\na Cayman Islands company listed on the Nasdaq Capital Market, we are subject to the Nasdaq corporate governance listing standards. Nasdaq\nrules, however, permit a foreign private issuer like us to follow the corporate governance practices of its home country. Certain\ncorporate governance practices in the Cayman Islands, which is our home country, may differ significantly from the Nasdaq corporate governance\nlisting standards. \n\n \n\n124\n\n \n\nNasdaq\nListing Rule 5635 generally provides that shareholder approval is required of U.S. domestic companies listed on Nasdaq prior to issuance\n(or potential issuance) of securities (i) equaling 20% or more of the company’s common stock or voting power for less than the\ngreater of market or book value (ii) resulting in a change of control of the company; and (iii) which is being issued pursuant to a stock\noption or purchase plan to be established or materially amended or other equity compensation arrangement made or materially amended.\nNotwithstanding this general requirement, Nasdaq Listing Rule 5615(a)(3)(A) permits foreign private issuers to follow their home country\npractice rather than these shareholder approval requirements. The Cayman Islands do not require shareholder approval prior to any of\nthe foregoing types of issuances. The Board of Directors of the Company elected to follow the Company’s home country rules in lieu\nof NASDAQ Listing Rule 5635. We, therefore, are not required to obtain such shareholder approval prior to entering into a transaction\nwith the potential to issue securities as described above. Other than the above, there are no significant differences between our corporate\ngovernance practices and those followed by U.S. domestic companies under Nasdaq Capital Market corporate governance listing standards. \n\n \n\nSee\n“Item 3. Key Information — D. Risk Factors — Risks Relating to Our Class A Ordinary Shares and the Trading Market —\nAs a company incorporated in the Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance\nmatters that differ significantly from Nasdaq corporate governance listing standards; these practices may afford less protection to shareholders\nthan they would enjoy if we complied fully with Nasdaq corporate governance listing standards..”"}