Core Viewpoint - UTime Limited will implement a reverse share split of its Class A ordinary shares at a ratio of 1-for-10, effective on or around March 31, 2025, to comply with Nasdaq's minimum bid price requirement of 0.0001 to $0.001 per share and will continue trading under the symbol "WTO" on Nasdaq [2]. - The number of issued and outstanding shares will decrease from approximately 36 million to approximately 3.6 million [4]. - No fractional shares will be issued; fractional interests will be rounded up to the nearest whole number [3]. Group 2: Shareholder Information - VStock Transfer, LLC is designated as the exchange agent and will provide instructions to shareholders regarding the exchange of pre-reverse share split share certificates [5][6]. - Shareholders holding shares in book-entry form or brokerage accounts do not need to take any action for the reverse share split [5]. Group 3: Company Overview - UTime Ltd., established in 2008, focuses on providing cost-effective mobile devices globally, particularly aiding low-income individuals in both established and emerging markets [7]. - The company has expanded its product line to include smart electric vehicle chargers in response to global energy conservation demands [7].
UTime Limited Announces 1-For-10 Reverse Share Split