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Utime | 20-F: FY2024 Annual Report

Utime | 20-F: FY2024 Annual Report

联代科技 | 20-F:2024财年年报
美股SEC公告 ·  2024/07/31 10:22

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UTime, a mobile phone OEM/ODM company, reported FY2024 financial results with revenue of RMB172.2 million ($24.3 million), down from RMB197.6 million in FY2023. The company incurred a net loss of RMB33.6 million ($4.7 million), with a gross profit margin of 5.2%. All revenue was derived from OEM/ODM contracts, with mainland China accounting for 61.7% of total revenue.In March 2024, UTime raised approximately $48.6 million through a private placement of shares and warrants to non-U.S. Persons. The company completed its IPO on Nasdaq in April 2021, raising net proceeds of about $13.9 million. As of March 31, 2024, 392,113,953 ordinary shares were outstanding.UTime faces challenges including material weaknesses in internal controls and ongoing legal proceedings. The company has significant related party transactions and balances. On April 12, 2024, UTime approved a new Performance Incentive Plan, reserving 58,817,000 shares for issuance to directors, officers, employees, and consultants. While primarily operating in China, UTime has expanded its presence to Mexico with minor long-lived assets there.
UTime, a mobile phone OEM/ODM company, reported FY2024 financial results with revenue of RMB172.2 million ($24.3 million), down from RMB197.6 million in FY2023. The company incurred a net loss of RMB33.6 million ($4.7 million), with a gross profit margin of 5.2%. All revenue was derived from OEM/ODM contracts, with mainland China accounting for 61.7% of total revenue.In March 2024, UTime raised approximately $48.6 million through a private placement of shares and warrants to non-U.S. Persons. The company completed its IPO on Nasdaq in April 2021, raising net proceeds of about $13.9 million. As of March 31, 2024, 392,113,953 ordinary shares were outstanding.UTime faces challenges including material weaknesses in internal controls and ongoing legal proceedings. The company has significant related party transactions and balances. On April 12, 2024, UTime approved a new Performance Incentive Plan, reserving 58,817,000 shares for issuance to directors, officers, employees, and consultants. While primarily operating in China, UTime has expanded its presence to Mexico with minor long-lived assets there.
UTime是一家手机OEM/ODm公司,公布了2024财年的财务结果,营业收入为人民币17220万(2430万美金),相比2023财年的19760万人民币有所下降。公司净亏损达人民币3360万(470万美金),毛利润率为5.2%。所有营业收入均来自OEM/ODm合同,其中中国大陆占总收入的61.7%。在2024年3月,UTime通过向非美国人士进行定向增发股票和Warrants筹集了大约4860万美金。该公司于2021年4月在纳斯达克完成首次公开募股,筹集净收益约1390万美金。截至2024年3月31日,已发行普通股392,113,953股。UTime面临包括内部控制重大缺陷和正在进行的法律诉讼在内的挑战。该公司有大量的关联方交易和余额。2024年4月12日,UTime批准了一项新的绩效激励计划,预留58,817,000股用于向董事、高级管理人员、员工和顾问发行。虽然主要在中国运营,UTime已扩展到墨西哥,那里有少量的长期资产。
UTime是一家手机OEM/ODm公司,公布了2024财年的财务结果,营业收入为人民币17220万(2430万美金),相比2023财年的19760万人民币有所下降。公司净亏损达人民币3360万(470万美金),毛利润率为5.2%。所有营业收入均来自OEM/ODm合同,其中中国大陆占总收入的61.7%。在2024年3月,UTime通过向非美国人士进行定向增发股票和Warrants筹集了大约4860万美金。该公司于2021年4月在纳斯达克完成首次公开募股,筹集净收益约1390万美金。截至2024年3月31日,已发行普通股392,113,953股。UTime面临包括内部控制重大缺陷和正在进行的法律诉讼在内的挑战。该公司有大量的关联方交易和余额。2024年4月12日,UTime批准了一项新的绩效激励计划,预留58,817,000股用于向董事、高级管理人员、员工和顾问发行。虽然主要在中国运营,UTime已扩展到墨西哥,那里有少量的长期资产。
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