Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in the Statements contain these identifying words. “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” These statements include, but are not limited to, statements relating to the expected Form 20-F filing datesĪnd the ability of the Company to regain compliance with Nasdaq continued listing requirements. Statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking Manufacturing service level, to strengthen its cost control processes, and enhance its ability to respond rapidly to market dynamics for sustainable development in its Electronics Manufacturing UTime Limited continuously endeavors to improve its overall UTime Limited values systematic management and organizes production with strict high-quality standards and production technologies. UTime Limited is mainly engaged in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics. UTime Limited operates as a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals fromĮstablished and emerging markets. The Company is working diligently to complete its Form 20-F and intends to file the Form 20-F as soon as practicable to regain compliance with the Rules. However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be
The Notice has no immediate effect on the listing or trading of the Company’s securities. If the Staff does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq To regain compliance within any extension period granted by Nasdaq. However, there can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be able If the Staff accepts the plan, the Staff may grant the Company an extension of up to 180 calendar days from the FormĢ0-F’s due date, or until Februto regain compliance. October 17, 2022, which is 60 calendar days from receipt of the Notice. The Company is working diligently to complete its Form 20-F and intends to file the Form 20-F as soon as practicable to regain compliance with the Rules.Nasdaq has informed the Company that, under Nasdaq rules, the Company will be required to submit a plan to regain compliance with Rule 5250(c)(1) for the Staff’s consideration by no later than However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be subject to delisting from Nasdaq. If the Staff does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. However, there can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Staff accepts the plan, the Staff may grant the Company an extension of up to 180 calendar days from the Form 20-F’s due date, or until Februto regain compliance. Nasdaq has informed the Company that, under Nasdaq rules, the Company will be required to submit a plan to regain compliance with Rule 5250(c)(1) for the Staff’s consideration by no later than October 17, 2022, which is 60 calendar days from receipt of the Notice. The extension period provided under Rule 12b-25 expired on August 16, 2022. As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on July 29, 2022, the Company was unable to file its Form 20-F within the prescribed time period without unreasonable effort or expense. The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1) (the “Rule”).
(UTime Limited) announced that it has received a notice (“Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) as a result of its failure to file its Annual Report on Form 20-F for the fiscal year ended Ma(the “Form 20-F”) in a timely fashion. UTime Limited Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 20-F
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