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Utime | 20-F: FY2024 Annual Report

Utime | 20-F: FY2024 Annual Report

聯代科技 | 20-F:2024財年年報
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是一家手機OEM/ODM公司,報告了2024財年的財務結果,營業收入爲人民幣17220萬(2430萬美金),較2023財年的人民幣19760萬下降。該公司淨虧損爲人民幣3360萬(470萬美金),毛利潤率爲5.2%。所有營業收入均來自OEM/ODM合同,其中中國大陸佔總營業收入的61.7%。在2024年3月,UTime通過對非美國人士進行的定向增發股權和Warrants,募集了約4860萬美金。該公司於2021年4月在納斯達克完成了首次公開募股,籌集了約1390萬美金的淨收益。截至2024年3月31日,已發行普通股392,113,953股。UTime面臨挑戰,包括內部控制的重大缺陷和正在進行的法律訴訟。該公司有顯著的關聯方交易和餘額。2024年4月12日,UTime批准了一項新的績效激勵計劃,爲董事、高管、員工和顧問保留了58,817,000股股票。雖然主要在中國運營,UTime已將其業務擴展到墨西哥,並在當地擁有一些開多資產。
UTime是一家手機OEM/ODM公司,報告了2024財年的財務結果,營業收入爲人民幣17220萬(2430萬美金),較2023財年的人民幣19760萬下降。該公司淨虧損爲人民幣3360萬(470萬美金),毛利潤率爲5.2%。所有營業收入均來自OEM/ODM合同,其中中國大陸佔總營業收入的61.7%。在2024年3月,UTime通過對非美國人士進行的定向增發股權和Warrants,募集了約4860萬美金。該公司於2021年4月在納斯達克完成了首次公開募股,籌集了約1390萬美金的淨收益。截至2024年3月31日,已發行普通股392,113,953股。UTime面臨挑戰,包括內部控制的重大缺陷和正在進行的法律訴訟。該公司有顯著的關聯方交易和餘額。2024年4月12日,UTime批准了一項新的績效激勵計劃,爲董事、高管、員工和顧問保留了58,817,000股股票。雖然主要在中國運營,UTime已將其業務擴展到墨西哥,並在當地擁有一些開多資產。
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