UTime Ltd Announces It Has Received Letter From Nasdaq Regarding Stockholders' Equity Deficiency

UTime Limited ("UTime" or the "Company") (NASDAQ:WTO), today announced that on August 15, 2025, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is no longer in compliance with the requirement of maintaining a minimum of $2,500,000 in stockholders' equity for continued listing on the Nasdaq Capital Market set forth in Nasdaq Listing Rule 5550(b)(1) based on the Company's reported stockholders' equity in its Form 20-F for the year ended March 31, 2025, which is below the foregoing requirement of minimum stockholders' equity. In addition, the Company does not meet the alternatives of market value of listed securities or net income from continuing operations as of August 14, 2025.

The notification received has no immediate effect on the listing of the Company's class A ordinary shares traded on Nasdaq. Nasdaq has provided the Company with 45 calendar days, or until September 29, 2025, to submit a plan to regain compliance with the minimum stockholders' equity standard. The Company will be working with its advisors to submit a plan of compliance, that if accepted by Nasdaq, can grant an extension of up to 180 calendar days from the date of the notification letter.