SHENZHEN, China, July 01, 2026 (GLOBE NEWSWIRE) -- UTime Limited ("UTime" or the "Company"), a company focused on technology innovation and digital infrastructure development, today announced that its ticker symbol on the Nasdaq Capital Market will change from "WTO" to "FXHO," effective July 2, 2026. This change is being made in preparation for the Company's planned acquisition of Feixiaohao Technology Inc. ("Feixiaohao").
As previously disclosed, UTime entered into a non-binding letter of intent regarding the potential strategic transaction with Feixiaohao, a widely recognized Web3 data and information platform serving millions of cryptocurrency and blockchain users globally.
UTime and Feixiaohao continue to work 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.
Management of UTime continues to believe that the proposed transaction could further strengthen the Company's strategic positioning in the evolving Web3 and digital data infrastructure sector. The Company also believes that Feixiaohao's established market presence, user base and industry resources may provide meaningful synergies with UTime's future business initiatives.
While the Company is changing its ticker symbol to FXHO, UTime nonetheless 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.
About UTime Limited
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's website at utimemobile.com.
Forward-Looking Statements
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's 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's proposed acquisition of the data platform "Feixiaohao," 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's 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.
Contact:
UTime Limited
7th Floor, Building 5A
Shenzhen Software Industry Base, Nanshan District
Shenzhen, People's Republic of China 518061
Tel: (86) 755 86512266
qhengcong@utimemobile.com
