UTime Limited, a mobile device manufacturer and technology company, issued a statement regarding misinformation the Company believes is being put into the market by a former employee and to clarify that UTime’s management and board composition remains unchanged following the unauthorized publication of two press releases put out overnight.
On September 11, 2025, two fraudulent press releases were published – one indicating that the Company’s management and board has resigned and been replaced with a new team and one indicating that the Company’s website address has been changed (the “Unauthorized Press Releases”). Each of these Unauthorized Press Releases is false and may not be relied on. The Company is now taking every action to ensure that the individual behind these publications is unable to make any further disruption.
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The Company wishes to advise its shareholders, investors, and the public that the Unauthorized Press Releases were not authorized, reviewed, or approved by the Company’s leadership. Specifically:
The current management team remains fully in place. The Board of Directors continues to consist of Messrs. Minfei Bao, Hengcong Qiu, Xiaoqian Jia, Hailin Xie and Yanzhi Wang.
The Company believes the Unauthorized Press Releases were put out by a former employee who had previously managed the Company’s investor relations functions. This action appears to be a deliberate attempt to interfere with the Company’s business operations and stable management.
The Company is taking immediate and decisive actions to rectify this situation, protect the Company’s interests, and ensure the security of its regulatory disclosures. These actions include formally notifying the SEC of previous fraudulent filings made by this individual and notifying the proper authorities to investigate this matter.
The Company is committed to transparency and upholding the highest standards of corporate governance. We appreciate the trust of our shareholders and stakeholders and will provide updates as appropriate.
