The publicly listed company U Power has reached a strategic cooperation with IoTeX to explore the field of RWA tokenization.

On July 23, U Power Limited (NASDAQ: UCAR, hereinafter referred to as "U Power" or "the Company"), as an AI-driven solution provider focused on the next generation of power grids and intelligent transportation systems, announced today the signing of a Memorandum of Understanding and Business Cooperation Agreement (hereinafter referred to as "Strategic Cooperation Agreement") with IoTeX, leveraging its self-developed UOTTATM electric vehicle battery replacement technology. IoTeX is a pioneering blockchain platform dedicated to transforming machine-generated data into collective AI intelligence. According to the terms of the Strategic Cooperation Agreement: IoTeX will purchase real-world assets (RWA) backed by corporate bonds issued by U Power; this move will enhance U Power's capital structure while supporting the continuous R&D and promotion of its UOTTATM battery replacement technology, and will accelerate U Power's expansion in Web 3.0 AI-driven energy and transportation system solutions. Both parties will also actively explore innovative solutions for the tokenization of these RWAs, integrating advanced AI technology to ensure asset security, scalability, and efficient growth. This cooperation embodies both parties' shared commitment to sustainable development, technological innovation, and promoting real-world applications through blockchain finance (DeFi).