UTime Ltd (WTO) Form 20-F — Aug 10, 2026
UTime Limited filed its Form 20-F annual report for the fiscal year ended March 31, 2026, reporting a net loss of RMB27.8 million (US$4.0 million), a sharp improvement from the RMB670.1 million net loss in fiscal 2025, though the company used RMB146.3 million (US$21.2 million) of cash in operations during the year. The company ended the year with $38.0 million in cash (roughly $37.0 million held in the US) against an accumulated deficit of RMB906.8 million (US$131.5 million), and its risk factors warn it may not be able to continue as a going concern if additional funding cannot be obtained.
Key figures
- Net Income
- RMB -27.8 million (US$ -4.0 million) net loss for FY2026
- Cash Position
- US$38.0 million at March 31, 2026
- Shares Outstanding
- 1,692,423 Class A ordinary shares (par $0.50) as of March 31, 2026, or ~169,242 shares (par $5.00) on a post 1-for-10 reverse split basis
- Cash breakdown
- ~US$0.8 million Hong Kong, US$37.0 million US, US$0.2 million PRC
- Net loss fy2024
- RMB62.2 million
- Net loss fy2025
- RMB670.1 million
- Reverse split ratio
- 1-for-10
- Total assets fy2026
- RMB447.1 million (US$64.8 million)
- Long term borrowings
- RMB5.0 million (US$0.7 million)
- Short term borrowings
- RMB57.9 million (US$8.4 million)
- Guangxi utime judgment
- RMB443,921.80 rent plus RMB41,090 liquidated damages ordered August 26, 2025; under appeal
- Total liabilities fy2026
- RMB309.2 million (US$44.8 million)
- Accumulated deficit fy2026
- RMB906.8 million (US$131.5 million)
- Loss from operations fy2026
- RMB27.8 million (US$4.0 million)
- Feixiaohao loi consideration
- up to US$80 million in shares and cash
- Cash used in operations fy2026
- RMB146.3 million (US$21.2 million)
- Total shareholders equity fy2026
- RMB137.9 million (US$20.0 million)
- Top customer concentrations fy2026
- ["20.3%","11.3%","9.0%"]
- Current portion long term borrowings
- RMB5.4 million (US$0.8 million)
AI analysis
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