UTime Limited announces a 10:1 share consolidation effective June 22, 2026, retaining shareholder ownership percentages.
Quiver AI Summary
UTime Limited has announced a share consolidation that will take effect on June 22, 2026, converting every ten Class A ordinary shares into one share, with the par value changing from $0.50 to $5.00 per share. This move follows shareholder approval during an extraordinary meeting held on January 26, 2026, where the board decided to implement a 10:1 reverse stock split. The shares will continue to trade under the ticker "WTO" on the Nasdaq Capital Market with a new CUSIP number. This consolidation is not expected to affect shareholders' percentage ownership significantly, aside from minor adjustments for fractional shares. UTime Limited specializes in the design, production, and sale of mobile devices globally.
Potential Positives
- UTime Limited will implement a share consolidation that is expected to streamline its share structure and potentially enhance the attractiveness of its stock to investors.
- The share consolidation was approved by shareholders at an extraordinary meeting, indicating strong shareholder support for corporate governance decisions.
- The consolidation aims to maintain the company's market presence on the Nasdaq Capital Market under the existing ticker symbol "WTO," which supports brand continuity and recognition.
- The company continues to engage in the mobile device market, demonstrating its ongoing commitment to growth and development in a competitive industry.
Potential Negatives
- The announcement of a share consolidation may be perceived negatively by investors, as it often indicates that the company is trying to boost its stock price artificially, which can raise concerns about underlying financial health.
- The need for a share consolidation, particularly at a ratio of 10:1, may signal that the company's stock has been trading at a low value, which could lead to loss of investor confidence.
- The forward-looking statements and disclosures of unknown risks may create uncertainty around the company's future performance, adding to investor apprehension.
FAQ
What is the date of UTime Limited's share consolidation?
The share consolidation will take effect on June 22, 2026, at 8:00 a.m. Eastern Time.
What will be the new ticker symbol for UTime Limited?
The ticker symbol will remain "WTO" after the share consolidation on the Nasdaq Capital Market.
What is the ratio for the share consolidation?
The share consolidation will occur at a 10:1 ratio, consolidating every ten Class A shares into one.
How will the consolidation affect shareholders?
Shareholders' percentage ownership will not change significantly, except for minor adjustments due to fractional shares.
Where is UTime Limited based?
UTime Limited is based in Shenzhen, People’s Republic of China.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WTO Hedge Fund Activity
We have seen 1 institutional investors add shares of $WTO stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 21,052 shares (-58.3%) from their portfolio in Q1 2026, for an estimated $57,050
- SASSICAIA CAPITAL ADVISERS LLC removed 13,000 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $35,230
- XTX TOPCO LTD removed 10,669 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $10,882
- BANK OF AMERICA CORP /DE/ removed 7,153 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $7,296
- TOWER RESEARCH CAPITAL LLC (TRC) added 900 shares (+inf%) to their portfolio in Q1 2026, for an estimated $2,439
- CITADEL ADVISORS LLC removed 34 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $34
- MORGAN STANLEY removed 2 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $5
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Full Release
AGOURA HILLS, Calif., June 17, 2026 (GLOBE NEWSWIRE) -- UTime Limited (Nasdaq: WTO) today announced that its share consolidation (“Share Consolidation”) involving the consolidation of every ten (10) Class A ordinary shares, with a par value of US$0.50 per share, into one (1) class A ordinary share with a par value of US$5.00 per share, will take effect at 8:00 a.m. Eastern Time on June 22, 2026. The Company’s Class A Ordinary shares will open for trading on the Nasdaq Capital Market on June 22, 2026, on a post-split basis, under the existing ticker symbol “WTO,” with a new CUSIP number of G9411M157.
Details of the Share Consolidation
At the Company’s extraordinary shareholder meeting held on January 26, 2026 (The Company’s (the “Extraordinary Meeting”) the shareholders approved authorizing the Company’ to complete one or more share consolidations, at a ratio within the rage of 10:1 to 200:1 (the “Ratio”), with such final Ratio and timing of any reverse split to be determined at the discretion of the Company’s board of directors. Following the Extraordinary Meeting, on May 22, 2026, the Board authorized effecting a 10:1 reverse stock split, to be effected upon obtaining Nasdaq approval.
Impact on Shareholders
The Share Consolidation will not affect any shareholder’s percentage ownership interest in the Company, except for minor adjustments resulting from the treatment of fractional shares.
About UTime Limited
Trading under the Nasdaq ticker WTO, UTime Limited is engaged in the design, development, production, sales and brand operation of mobile devices in China and globally. The company aims to provide cost-effective products and serves a broad customer base.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. For additional risk factors, please review UTime Limited’s Annual Report on Form 20-F and other SEC filings. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contact:
UTime Limited
7th Floor, Building 5A
Shenzhen Software Industry Base, Nanshan District
Shenzhen, People’s Republic of China 518061
Tel: (86) 755 86512266
[email protected]
