Welcome to our dedicated page for UTime Ordinary Shares news (Ticker: WTO), a resource for investors and traders seeking the latest updates and insights on UTime Ordinary Shares stock.
UTime Limited (symbol: WTO) is a dynamic and innovative company engaged in the design, development, production, sales, and brand operation of mobile phones, accessories, and related consumer electronics. With a strong focus on providing cost-effective solutions, UTime Ltd. caters to a global market, including the United States, India, Brazil, and emerging markets in South Asia and Africa.
In addition to its core mobile device offerings, UTime Ltd. also excels in Electronics Manufacturing Services (EMS), providing Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) services for well-known brands. This positions the company as a versatile player in the consumer electronics market.
The company operates two in-house brands:
- UTime: A middle-to-high end brand targeting middle-class consumers in emerging markets.
- Do: A low- to mid-end brand aimed at grassroots and price-sensitive consumers in these regions.
Founded in 2008, UTime Ltd. is committed to bridging the technology gap by offering affordable mobile devices and has recently expanded its product lines to include smart electric vehicle chargers in response to the global demand for energy conservation and carbon reduction. This addition demonstrates UTime's dedication to innovation and sustainability.
For more information, visit the Company’s website at http://www.utimeworld.com.
UTime (Nasdaq: WTO) announced receiving a notification letter from Nasdaq on October 10, 2024, regarding its failure to meet the minimum bid price requirement. The company's ordinary shares have been below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). UTime has until April 8, 2025, to regain compliance by maintaining a closing bid price of at least $1 for a minimum of 10 consecutive business days.
If UTime fails to meet this requirement within the initial 180-day period, it may be eligible for an additional 180 calendar days, provided it meets other continued listing requirements and submits a written notice of intention to cure the deficiency. The notification has no immediate effect on UTime's Nasdaq listing.
UTime (Nasdaq: WTO), a mobile device manufacturer, has announced a $5 million registered direct offering of its ordinary shares. The company has agreed to sell 7,692,308 ordinary shares at a purchase price of $0.65 per share to certain accredited investors. The offering is expected to close around September 16, 2024, subject to customary closing conditions. The shares are being offered pursuant to a shelf registration statement on Form F-3 filed with the SEC. UTime aims to provide cost-effective products and solutions to consumers globally, particularly focusing on low-income individuals in established and emerging markets.
UTime (Nasdaq: WTO) has announced a 1-for-25 reverse share split, effective September 11, 2024. This move aims to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per ordinary share. Key points include:
- Trading on a split-adjusted basis begins September 11, 2024
- New CUSIP number: G9411M116
- Outstanding shares will reduce from ~450 million to ~18 million
- No fractional shares will be issued; all fractional interests rounded up
- Adjustments will be made to outstanding derivative securities and equity incentive plans
VStock Transfer, is acting as the exchange agent. Shareholders with book-entry or brokerage accounts need not take action, while those with certificates will receive instructions for the exchange process.
UTime (NASDAQ: WTO) has initiated comprehensive financial and legal due diligence on Bowen Therapeutics Inc, marking a significant step in its planned acquisition. This move aligns with UTime's strategy to expand its presence in the innovative medical products sector and strengthen its market position. Bowen Therapeutics, known for its research and development capabilities, particularly in monkeypox vaccine development, is expected to become a key part of UTime's expansion strategy.
The due diligence process will cover various aspects of Bowen Therapeutics' business, including financial statements, assets, liabilities, cash flow, tax records, corporate governance, contracts, intellectual property rights, and potential legal risks. This thorough examination will provide UTime with a comprehensive understanding of Bowen Therapeutics, enabling informed decision-making aligned with its long-term growth strategy in the global healthcare sector.
UTime (NASDAQ: WTO) has signed a non-disclosure agreement (NDA) to acquire Bowen Therapeutics Inc's laboratory at UMASS Medical School, marking its expansion into the global vaccine market. The acquisition aims to support the FDA registration of a monkeypox vaccine developed by Bowen Therapeutics. This strategic move responds to the growing global need for effective monkeypox prevention amid recent outbreaks.
Bowen Therapeutics has developed a novel hexavalent recombinant protein vaccine designed to increase virus-neutralizing antibodies and enhance protection against monkeypox. UTime will take over the laboratory, manage ongoing clinical trials, and lead future vaccine development programs. The transaction is subject to regulatory approvals and is expected to complete within a few months, though there is no guarantee of completion.
UTime (NASDAQ: WTO) has announced its collaboration on Circul VS, a continuous blood pressure measurement technology system developed with Dr. Ehud Baron. The system includes a BPwatch, Ring, and Smart Cradle, integrated into a cloud-based network. Circul VS utilizes ultrasound sensing technology and intelligent algorithms to provide real-time blood pressure waveform data with high accuracy.
The system has undergone clinical trials in partner hospitals, receiving positive feedback for its performance in non-invasive monitoring. Circul VS is designed for various applications, including hypertension screening, long-term management, and acute monitoring in hospital settings. UTime and Dr. Baron plan to further refine the technology for use in ICUs and other medical environments.
UTime (NASDAQ: WTO) has announced plans to participate in several international medical fairs and conferences. The company will showcase its latest medical devices and solutions at MEDICA in Düsseldorf, Germany, one of the world's most influential medical trade fairs. UTime will exhibit innovations in medical monitoring devices and smart diagnostic tools.
Additionally, UTime plans to attend the Cardiology Society Conference, Sleep Conference, and Hypertension Conference in the United States. These events will provide opportunities to present technological advancements and learn from global peers. The company aims to explore potential collaborations with international healthcare organizations and research institutes, focusing on telemedicine and AI applications in healthcare. These initiatives demonstrate UTime's commitment to influencing the global medical landscape and enhancing human health through innovation.
UTime (NASDAQ: WTO) has announced a strategic initiative to advance AI-driven health solutions, focusing on expanding its smart medical wearable products business. The company is collaborating with Dr. Ehud Baron, a renowned medical technology innovator, to enhance its blood pressure measurement offerings and develop hemodynamic and health mapping products. UTime plans to optimize its flagship blood pressure monitoring watch and subsequently expand its product range to address various smart healthcare needs.
The company also intends to launch products for smart detection of key health indicators, including heart rate and sleep monitoring devices. Hengcong Qiu, Chairman of UTime, expressed confidence that this strategic cooperation and AI-enabled healthcare initiatives will drive growth opportunities and position UTime as a leader in healthcare technology innovation.
UTime (NASDAQ: WTO) has announced a strategic partnership with XCardio, owned by Dr. Ehud Baron, to develop advanced continuous blood pressure monitoring devices called BPWatch. This collaboration aims to transition UTime from a low-margin consumer product business to a high-margin, recurring revenue model using a Per Patient Per Month (PPPM) payment structure.
Dr. Baron, a former professor at prestigious institutions and a leader in medical technology innovation, brings expertise in blood pressure, hemodynamics, health mapping, and AI-driven diagnostics to the project. This partnership aligns with UTime's new focus on enhancing health and wellness through cutting-edge medical wearable technology, particularly in response to the increased global emphasis on health and disease prevention following the COVID-19 pandemic.
UTime (Nasdaq: WTO), a mobile device manufacturing company, has regained compliance with Nasdaq's minimum bid price requirement. The company received formal notification from Nasdaq that it has met the listing rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share. This compliance was achieved after UTime's closing bid price remained at or above $1.00 for 11 consecutive business days from July 26, 2024 to August 9, 2024. As a result, the bid price deficiency matter has been closed, ensuring UTime's continued listing on the Nasdaq Stock Market.
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