$FXHO

UTime Ltd

CIK:0001789299|SEC Filings

Consolidated Statements of Comprehensive Loss
¥ in Thousands, $ in Thousands

12 Months Ended

Mar. 31, 2026

USD ($)

$ / shares

Mar. 31, 2026

CNY (¥)

¥ / shares

Mar. 31, 2025

CNY (¥)

¥ / shares

Mar. 31, 2024

CNY (¥)

¥ / shares

Income Statement [Abstract]

Revenue

$ 28,470

¥ 196,385

¥ 250,997

¥ 172,156

Cost of sales

28,185

194,417

243,913

163,286

Gross profit

285

1,968

7,084

8,870

Operating expenses:

Selling expenses

249

1,717

7,028

6,356

General and administrative expenses

3,646

25,153

137,591

40,711

Other income, net

(442)

(3,046)

527,088

(8,057)

Total operating expenses/(income)

3,453

23,824

671,707

39,010

(Loss)/Profit from operations

(3,168)

(21,856)

(664,623)

(30,140)

Interest expenses

867

5,980

3,927

3,617

(Loss)/Profit before income taxes

(4,035)

(27,836)

(668,550)

(33,757)

Income tax benefits

(59)

(171)

Net loss from continuing operations

(4,035)

(27,836)

(668,491)

(33,586)

Discontinued operations

Loss on disposal of discontinued operation

(26,719)

Loss from discontinued operations

(1,596)

(1,903)

Net loss from discontinued operations

(1,596)

(28,622)

Net loss

(4,035)

(27,836)

(670,087)

(62,208)

Less: Net loss attributable to non-controlling interests

(1,324)

Net loss attributable to UTime Limited

(4,035)

(27,800)

(670,087)

(60,884)

Comprehensive loss

Net loss attributable to UTime Limited

(4,035)

(27,800)

(670,087)

(60,884)

Foreign currency translation adjustment

(2,728)

(18,817)

10,584

1,456

Total comprehensive loss

(6,763)

(46,653)

(659,503)

(59,428)

Comprehensive loss attributable to UTime Limited

$ (6,763)

¥ (46,653)

¥ (659,503)

¥ (59,428)

Losses per share attributable to UTime Limited

Continuing operations | (per share)

$ (0.07)

¥ (0.49)

¥ (929.38)

¥ (97.50)

Discontinued operations | (per share)

¥ (86.47)

Weighted average ordinary shares outstanding

Weighted Average Number of Shares Outstanding, Diluted

^[1]

56,302

721

331

[1]

On March 31, 2025, the Company effected a 10-for-1 share consolidation of its ordinary shares; on November 21, 2025, the Company completed a 100-for-1 share consolidation of its Class A ordinary shares; and on February 17, 2026, the Company effected a 5-for-1 share consolidation of its ordinary shares; and on June 22, 2026, the Company effected a 10-for-1 share consolidation of its Class A ordinary shares. All share and per share information presented in the accompanying condensed consolidated financial statements have been retrospectively adjusted to reflect these share consolidation events.

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2026 USD ($)	Mar. 31, 2026 CNY (¥)	Mar. 31, 2025 CNY (¥)	Mar. 31, 2024 CNY (¥)
Cash flows from operating activities:
Net loss	$ (4,035)	¥ (27,836)	¥ (670,087)	¥ (62,208)
Net loss from discontinued operations			(1,596)	(28,622)
Net loss from continuing operations	(4,035)	(27,836)	(668,491)	(33,586)
Adjustments to reconcile net loss from operations to net cash used by operating activities
Depreciation and amortization	794	5,477	5,669	6,736
Amortisation of operating lease right of use assets	203	1,400
Gain on disposal of subsidiary	(1,054)	(7,272)
Allowances for obsolete inventories, net	(580)	(3,999)	9,841	688
Impairment of long-live assets			10,496
Allowance for credit losses, net	(2,492)	(17,188)	505,754	152
Share-based compensation			111,034	8,892
Deferred tax				(171)
Other non-current assets	25	170
Government grants	(263)	(1,813)	(1,812)	(2,542)
Net change in operating assets and liabilities:
Accounts receivable	2,203	15,199	(22,312)	4,118
Prepaid expenses and other current assets	(8,667)	(59,786)	(41,877)	(361,724)
Prepaid expenses and other current assets	(443)	(3,054)
Inventories	945	6,518	(5,166)	4,459
Accounts payable	(5,423)	(37,405)	32,412	(10,606)
Other payables and accrued liabilities	(2,253)	(15,540)	25,381	4,213
Operating lease liabilities	(168)	(1,159)
Net cash used in operating activities - Continuing operations	(21,208)	(146,288)	(39,071)	(379,371)
Net cash used in operating activities - Continuing operations	(21,208)	(146,288)	(39,071)	(379,371)
Net cash provided by operating activities - Discontinued operations				246
Net cash (used in)/provided by operating activities	(21,208)	(146,288)	(39,071)	(379,125)
Cash flows from investing activities:
Acquisition of property, plant and equipment	(6)	(44)		(971)
Proceeds from sale of property, plant and equipment				6,500
Net cash provided by/(used in) investing activities ( Continuing operations	(6)	(44)		5,529
Net cash used in investing activities - Discontinued operations				(9)
Net cash provided by investing activities	(6)	(44)		5,520
Cash flows from financing activities:
Proceeds from short-term borrowings	9,177	63,300	36,000	60,571
Loan received from a shareholder				41,796
Repayment of loan from a shareholder				(14,200)
Repayment of short-term borrowings	(8,504)	(58,660)	(29,349)	(57,557)
Repayments of long-term borrowings				(7,950)
Related parties	(1,845)	(12,724)	5,530	2,949
Proceeds from issuance of ordinary shares	46,735	322,379	47,374	350,001
Payment of capital lease obligation			(264)	(498)
Repayment of finance liabilities	(424)	(2,926)
Net cash provided by financing activities	45,139	311,369	59,291	375,112
Effect of exchange rate changes on cash and cash equivalent and restricted cash	(976)	(12,135)	11,818	3,234
Net increase in cash and cash equivalent and restricted cash	22,949	152,902	32,038	4,741
Cash and cash equivalents and restricted cash at beginning of period	15,050	109,213	77,175	72,434
Cash and cash equivalents and restricted cash at end of period	37,999	262,100	109,213	77,175
Cash and cash equivalents and restricted cash at end of year - Continuing operations	37,999	262,115	109,213	77,175
Supplemental disclosures of cash flow information:
Income taxes paid (refunded)	471	3,247		3,635
Reconciliation of cash, cash equivalents and restricted cash in consolidated statements of cash flows
Restricted cash	42	288		500
Cash and cash equivalents	37,957	261,827	109,213	76,675
Cash, cash equivalents and restricted cash	$ 37,999	¥ 262,115	¥ 109,213	¥ 77,175

Consolidated Balance Sheets
¥ in Thousands, $ in Thousands

Mar. 31, 2026

USD ($)

Mar. 31, 2026

CNY (¥)

Mar. 31, 2025

CNY (¥)

Current assets

Cash and cash equivalents

$ 37,957

¥ 261,827

¥ 109,213

Restricted cash

288

Accounts receivable, net

266

1,837

Prepaid expenses and other current assets, net

15,369

106,027

45,535

Inventories

556

3,832

6,351

Prepaid tax

443

3,054

Total current assets

59,401

409,752

161,665

Non-current assets

Property, plant and equipment, net

4,957

34,196

39,599

Operating lease right-of-use assets, net

130

900

1,714

Finance lease right-of-use assets, net

241

1,660

2,246

Intangible assets, net

174

205

Deferred loss on sale-leaseback

435

605

Total non-current assets

5,416

37,365

44,369

Total assets

64,817

447,117

206,034

Current liabilities

Accounts payable

14,656

101,097

138,504

Short-term borrowings

8,388

57,860

57,600

Current portion of long-term borrowings

783

5,400

Current portion of government grants

263

1,812

Lease liabilities

174

1,203

4,085

Other payables and accrued liabilities

10,700

73,810

89,350

Current liabilities related to discontinued operations

252

1,726

1,601

Total current liabilities

42,040

289,982

333,739

Non-current liabilities

Long-term borrowings

722

4,980

6,000

Government grants

104

717

2,530

Due to related party

1,906

13,150

Lease liabilities - non-current

416

1,619

Total non-current liabilities

2,792

19,263

10,149

Total liabilities

44,832

309,245

343,888

Commitments and contingencies

Shareholders’ equity

Additional paid-in capital

174,684

1,204,970

732,909

Subscription receivables

(22,542)

(155,495)

Accumulated deficit

(131,451)

(906,751)

(878,915)

Accumulated other comprehensive income

(799)

(5,500)

13,317

Total UTime Limited shareholder's equity

20,738

143,063

(132,663)

Non-controlling interests

(753)

(5,191)

Total shareholders' equity

19,985

137,872

(137,854)

Total liabilities and shareholders' equity

64,817

447,117

206,034

Common Class A [Member]

Shareholders’ equity

Ordinary shares value

846

5,839

Common Class B [Member]

Shareholders’ equity

Ordinary shares value

^[1]

Related Party [Member]

Current assets

Due from related parties

4,768

32,887

566

Current liabilities

Due to related parties

6,803

46,928

40,787

Interest payable to related party

$ 21

146

Non-current liabilities

Due to related party

¥ 13,150

[1]

On March 31, 2025, the Company effected a 10-for-1 consolidation of its ordinary shares; on November 21, 2025, the Company completed a 100-for-1 share consolidation of its Class A ordinary shares; on February 17, 2026, the Company effected a 5-for-1 sconsolidation of its ordinary shares; and on June 22, 2026, the Company effected a 10-for-1 consolidation of its ordinary shares. All share and per share information presented in the accompanying condensed consolidated financial statements have been retrospectively adjusted to reflect these share consolidation events.