Able to complete a 1 billion yuan Series C financing.

On February 13, U Energy announced the completion of its C3 round of equity financing, with a total financing amount of 1 billion RMB. As of now, U Energy's total financing amount in the C round has reached nearly 2 billion RMB. According to U Energy, in addition to the founding shareholders increasing their investment and introducing several state-owned capital shareholders such as Haining Economic Development Zone, Chengmai in Hainan, and Dongpo in Meishan, the company further introduced two important shareholders, Hefei Construction Investment Group and Hefei Economic Development Zone, in the C3 round of financing. The financing funds will be mainly used for the deployment of company's battery asset management related business, technology research and development, resource recycling and other business areas, to help the company continuously improve its battery asset management services, enhance its research and development and financial strength, and accelerate the industrialization of research results.