Dear investors, analysts and media:
UTime Ltd (“UTime”) has recently experienced a period of unusual price fluctuations in the capital markets. As a responsible company, we understand the concerns of market participants about such situations and believe that it is necessary to provide the public with transparent and formalized information to provide care in this regard.
First of all, the Company’s Board of Directors and management are very concerned about the recent unusual volatility in the share price. We work closely with relevant authorities to ensure that all disclosures comply with regulatory requirements and protect investors’ interests. At present, the company is operating normally and no events have occurred that affect the company’s fundamentals. And we recently announced that we have officially entered the medical industry with renowned physician Dr. Ehud Baron and relevant study organizations plan to acquire a laboratory focused on monkeypox vaccine development.
Secondly, we have noticed various speculations and rumors about the company in the market and would like to expressly point out that you should not believe unconfirmed news unless it has been published through official channels. The Company remains committed to creating value for shareholders and maintaining stable business growth.
In response to these price fluctuations, the Company has initiated an internal investigation to determine whether there is a leak of undisclosed information or other factors that could affect the stock price and, if necessary, may retain attorneys to initiate short selling investigation proceedings. At the same time, we will strengthen communication with investors to ensure the fairness and transparency of the market.
Finally, the company appeals to all investors to remain rational and not be influenced by short-term market sentiments. We promise you that we will inform you immediately about any new progress or information via official channels.
Thank you for your understanding and support. The Company will continue to monitor the situation and provide updated information as necessary. Please wait for our official announcement.
Information about UTime Limited
Founded in 2008, UTime Limited provides affordable mobile devices to consumers worldwide and helps low-income people in established markets such as the United States and emerging markets such as India and countries in South Asia and Africa have greater access to the latest mobile technology. Since 2024, UTime has been committed to improving health and wellness through innovative medical wearable technologies. By leveraging cutting-edge research and strategic partnerships, UTime aims to provide effective solutions for disease prevention and health management on a global scale. For more information, please visit the company’s website at http://www.utimeworld.com/.
Forward-Looking Statements
Statements in this press release regarding future expectations, plans and prospects, and any other statements on matters that are not historical facts, may constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Exchange Act Litigation Reform Act of 1995 The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “ “predict”, “project”, “should”, “target”, “will”, “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may vary due to various important factors discussed in the “Risk Factors” section of the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on July 30, 2024, may differ materially from those set forth in such forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information contact: Eaky Tan
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