Bank of America Corp Reports New 6.3% Passive Stake in U Power Ltd (UCAR)

On May 14, 2026, Bank of America Corporation filed a Schedule 13G disclosing a new 6.3% stake in U Power Ltd (UCAR). The filing indicates that as of the event date on March 31, 2026, Bank of America beneficially owns 1,328,553 Class A Ordinary Shares. This position was acquired and is held in the ordinary course of business by Bank of America and its wholly owned subsidiary, BofA Securities, Inc. The reporting person shares voting and dispositive power over the entire share amount. The beneficial ownership calculation is based on 20,963,440 outstanding shares as reported in the issuer's prospectus dated March 20, 2026. Notably, the filing mentions that the share count is presented on a pre-split basis relative to a reverse stock split implemented on April 1, 2026. This filing represents an increase from a previously reported 0% position, establishing Bank of America as a significant passive institutional investor in the Shanghai-based company.