Company Overview - UTime Limited is a mobile device manufacturing company focused on providing cost-effective products and solutions to consumers globally, particularly targeting low-income individuals in both established and emerging markets [5] - The company has expanded its product line to include smart electric vehicle chargers in response to global energy conservation and carbon reduction demands since July 2023 [5] Reverse Share Split Announcement - UTime announced a reverse share split of its outstanding ordinary shares at a ratio of 1-for-25, effective on or around September 11, 2024 [1][2] - The reverse share split aims to help the company regain compliance with Nasdaq's minimum bid price requirement of $1.00 per ordinary share for continued listing [2] - Following the reverse share split, the number of issued and outstanding shares will decrease from approximately 450 million to about 18 million [3] Shareholder Information - No fractional shares will be issued; all fractional interests will be rounded up to the nearest whole number of ordinary shares [3] - VStock Transfer, LLC is designated as the exchange agent and paying agent for the reverse share split, and shareholders in book-entry form or brokerage accounts need not take any action [4]
UTime Limited Announces 1-For-25 Reverse Share Split