U Power (UCAR) - 2024 Q2 - Quarterly Report

Exhibit 99.1 U POWER LIMITED | | | | For the six months ended June 30, | | | --- | --- | --- | --- | --- | | | Notes | 2023 | 2024 | 2024 | | | | RMB | RMB | US$ | | Net revenues | | | | | | Product sales | | - | 12,389 | 1,705 | | Sourcing services | | 1,435 | 75 | 10 | | Battery-swapping services | | 461 | 726 | 100 | | Total net revenues | | 1,896 | 13,190 | 1,815 | | Cost of revenues | | (597) | (11,902) | (1,638) | | Gross profit | | 1,299 | 1,288 | 177 | | Operating expenses: | | | | | | Sales and mar ...