![]() UTime Limited values systematic management and organizes production with strict high-quality standards and production technologies. UTime Limited is mainly engaged in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics. UTime Limited operates as a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals from established and emerging markets. The Company is working diligently to complete its Form 20-F and intends to file the Form 20-F as soon as practicable to regain compliance with the Rules. However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be subject to delisting from Nasdaq. The Notice has no immediate effect on the listing or trading of the Company’s securities. If the Staff does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. However, there can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Staff accepts the plan, the Staff may grant the Company an extension of up to 180 calendar days from the Form 20-F’s due date, or until Februto regain compliance. Nasdaq has informed the Company that, under Nasdaq rules, the Company will be required to submit a plan to regain compliance with Rule 5250(c)(1) for the Staff’s consideration by no later than October 17, 2022, which is 60 calendar days from receipt of the Notice. The extension period provided under Rule 12b-25 expired on August 16, 2022. ![]() The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1) (the “Rule”).Īs reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on July 29, 2022, the Company was unable to file its Form 20-F within the prescribed time period without unreasonable effort or expense. 24, 2022 (GLOBE NEWSWIRE) - UTime Limited ( NASDAQ: UTME) (“UTime” or the “Company), a mobile device manufacturing company focused on China and other emerging markets, today announced that it has received a notice (“Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) as a result of its failure to file its Annual Report on Form 20-F for the fiscal year ended Ma(the “Form 20-F”) in a timely fashion. ![]() The company was founded by Minfei Bao, Junlin Zhou and Bo Tang in June 2008 and is headquartered in Shenzhen, China.New York, Aug. It operates through two in-house brands, “UTime,†which is known as middle-to-high end label and targets middle class consumers from emerging markets and “Doâ€, as low-to mid-end brand, is positioned to the majority of grassroots consumers and price-sensitive consumers in emerging markets. ![]() The company operations are based in China whereas most of the products are sold globally, including India, Brazil, the United States, and other emerging markets in South Asia and Africa as well as Europe. The firm also provides Electronics Manufacturing Services, including Original Equipment Manufacturer and Original Design Manufacturer services, for well-known brands, such as TCL Communication Technology Holdings, Ltd., a subsidiary of TCL Corp., Haier Electronics Group Co., Ltd., a subsidiary of Haier Group Corp., and Quality One Wireless LLC, based in Orlando, Florida. engages in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics.
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