{"id":960738,"date":"2026-05-11T09:03:16","date_gmt":"2026-05-11T13:03:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/utime-limited-provides-update-on-due-diligence-progress-for-proposed-transaction-with-feixiaohao\/"},"modified":"2026-05-11T09:03:16","modified_gmt":"2026-05-11T13:03:16","slug":"utime-limited-provides-update-on-due-diligence-progress-for-proposed-transaction-with-feixiaohao","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/utime-limited-provides-update-on-due-diligence-progress-for-proposed-transaction-with-feixiaohao\/","title":{"rendered":"UTime Limited Provides Update on Due Diligence Progress for Proposed Transaction with Feixiaohao"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">SHENZHEN, China, May  11, 2026  (GLOBE NEWSWIRE) &#8212; UTime Limited (NASDAQ: WTO) (\u201cUTime\u201d or the \u201cCompany\u201d), a company focused on technology innovation and digital infrastructure development, today announced that its ongoing financial, legal and operational due diligence relating to the proposed transaction with Feixiaohao Technology Inc. (\u201cFeixiaohao\u201d) is progressing smoothly and in an orderly manner.<\/p>\n<p align=\"justify\">As previously disclosed, UTime entered into a non-binding letter of intent regarding a potential strategic transaction involving Feixiaohao, a widely recognized Web3 data and information platform serving millions of cryptocurrency and blockchain users globally.<\/p>\n<p align=\"justify\">The Company believes that both parties have maintained active communication and coordination throughout the due diligence process. UTime and Feixiaohao are currently working closely with their respective advisors and professional teams to evaluate various aspects of the proposed transaction, including business integration opportunities, technology infrastructure, market expansion strategies and long-term development plans.<\/p>\n<p align=\"justify\">Management of UTime believes that the proposed transaction could further strengthen the Company\u2019s strategic positioning in the evolving Web3 and digital data infrastructure sector. The Company also believes that Feixiaohao\u2019s established market presence, user base and industry resources may provide meaningful synergies with UTime\u2019s future business initiatives.<\/p>\n<p align=\"justify\">\u201cWe are pleased with the progress of the ongoing due diligence work and the constructive discussions between both parties,\u201d said Hengcong Qiu, Chief Executive Officer of UTime Limited. \u201cWe believe this potential transaction represents an important strategic opportunity for UTime as we continue to explore expansion into innovative digital technology and Web3-related infrastructure businesses.\u201d<\/p>\n<p align=\"justify\">UTime emphasized that the proposed transaction remains subject to the completion of due diligence, negotiation and execution of definitive agreements, satisfaction of customary closing conditions and applicable regulatory approvals. There can be no assurance that any definitive agreement will be executed or that the proposed transaction will ultimately be completed.<\/p>\n<p align=\"justify\">\n        <b>About UTime Limited<\/b>\n      <\/p>\n<p align=\"justify\">Trading under the Nasdaq ticker WTO, UTime Limited is engaged in the design, development, production, sales and brand operation of mobile devices in China and globally. The company aims to provide cost-effective products and serves a broad customer base. For more information, visit UTime\u2019s website at utimemobile.com.<\/p>\n<p align=\"justify\">\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause UTime\u2019s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding UTime\u2019s proposed acquisition of the data platform \u201cFeixiaohao,\u201d including whether the parties will negotiate and enter into a definitive agreement, whether the acquisition will be completed, and, if acquired, whether the Company will be successfully deploy any post-acquisition plans, integration activities, synergies, expected benefits, or Web3 infrastructure expansion initiatives. These forward-looking statements, and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us, including those described in UTime Limited\u2019s Annual Report on Form 20-F and our other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.<\/p>\n<p align=\"justify\">\n        <b>Contact: <\/b><br \/>\n        <br \/>\n        <b>UTime Limited<\/b><br \/>\n        <br \/>7th Floor, Building 5A<br \/>Shenzhen Software Industry Base, Nanshan District<br \/>Shenzhen, People\u2019s Republic of China 518061<br \/>Tel: (86) 755 86512266<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=B_Pp_H6WlPtC2hQzMXsD4OhMwMBXpo0LaCgn43ck-AzUxcO4QINPdBqScFn6iOocMXgulpUbkvd6HBiXwdhD6ftQ7hp0ScSNocJNIRI4ROCm87ghURK1GreaDTbmewet\" rel=\"nofollow\" target=\"_blank\">qhengcong@utimemobile.com<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcxNzQwNSM3NTk1NDA3IzUwMDE1MzQ0Mw==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YmFiOGE1NjAtMDA4Ni00NWU3LWI0YjAtNjRkMjU0N2ZhNzdiLTUwMDE1MzQ0My0yMDI2LTA1LTExLWVu\/tiny\/UTime-Limited.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHENZHEN, China, May 11, 2026 (GLOBE NEWSWIRE) &#8212; UTime Limited (NASDAQ: WTO) (\u201cUTime\u201d or the \u201cCompany\u201d), a company focused on technology innovation and digital infrastructure development, today announced that its ongoing financial, legal and operational due diligence relating to the proposed transaction with Feixiaohao Technology Inc. (\u201cFeixiaohao\u201d) is progressing smoothly and in an orderly manner. As previously disclosed, UTime entered into a non-binding letter of intent regarding a potential strategic transaction involving Feixiaohao, a widely recognized Web3 data and information platform serving millions of cryptocurrency and blockchain users globally. The Company believes that both parties have maintained active communication and coordination throughout the due diligence process. UTime and Feixiaohao are currently working closely with their respective advisors and professional teams &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/utime-limited-provides-update-on-due-diligence-progress-for-proposed-transaction-with-feixiaohao\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;UTime Limited Provides Update on Due Diligence Progress for Proposed Transaction with Feixiaohao&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-960738","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UTime Limited Provides Update on Due Diligence Progress for Proposed Transaction with Feixiaohao - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/utime-limited-provides-update-on-due-diligence-progress-for-proposed-transaction-with-feixiaohao\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UTime Limited Provides Update on Due Diligence Progress for Proposed Transaction with Feixiaohao - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SHENZHEN, China, May 11, 2026 (GLOBE NEWSWIRE) &#8212; UTime Limited (NASDAQ: WTO) (\u201cUTime\u201d or the \u201cCompany\u201d), a company focused on technology innovation and digital infrastructure development, today announced that its ongoing financial, legal and operational due diligence relating to the proposed transaction with Feixiaohao Technology Inc. (\u201cFeixiaohao\u201d) is progressing smoothly and in an orderly manner. As previously disclosed, UTime entered into a non-binding letter of intent regarding a potential strategic transaction involving Feixiaohao, a widely recognized Web3 data and information platform serving millions of cryptocurrency and blockchain users globally. The Company believes that both parties have maintained active communication and coordination throughout the due diligence process. 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