Recent Updates — FXHO
UTime Limited issued a total of 1,000,000 Class A ordinary shares to Li Donghong and Keru Jiang under its 2026 Equity Incentive Plan. The shares compensate the Advisor for special strategic advisory services and the Service Provider for business development work, with the latter's compensation converted from cash to equity via a supplemental agreement. UTime Limited operates in the financial technology sector.
UTime Limited disclosed that it was served with legal proceedings in the High Court of Hong Kong initiated by Giant Credit Limited. The plaintiff alleges UTime acted as a guarantor for loan obligations owed by another defendant and seeks approximately HK$20.4 million in aggregate, plus interest and costs. The company is reviewing the claims with legal advisers and intends to defend its interests vigorously, though it cannot currently estimate the ultimate outcome or potential loss. UTime Limited operates in the technology sector, providing software solutions.
UTime Ltd dismissed independent registered public accounting firm Assentsure PAC and appointed Li CPA LLC as its new auditor, effective upon execution of the engagement letter. The change was approved by the audit committee and resulted from a careful evaluation process rather than any disagreement regarding accounting principles, financial disclosures, or auditing scope. The prior auditor's reports for fiscal years ended March 31, 2026, and 2025 contained no adverse opinions or qualifications. However, the filing notes that management reported material weaknesses in internal control over financial reporting in its Form 20-F filed on August 10, 2026. UTime Ltd operates as a technology company providing software industry services.
UTime Limited held an extraordinary general meeting on September 10, 2026, where shareholders approved four proposals. First, the authorized share capital was increased from US$450.1 million to US$50 billion by creating approximately 9.91 billion new Class A shares and 900 million new Class B shares. Second, a share subdivision was approved, converting each existing Class A share (par value $5.0) into 500 million new Class A shares (par value $0.00000001) and each Class B share into 100,000 new Class B shares. Third, the memorandum and articles of association were amended and restated. Fourth, shareholders granted the board authority to consolidate Class A shares at a ratio between 1:10 and 1:100 if the stock price trades below $1.00 for five consecutive days. UTime Limited operates in the technology sector, providing software industry services.