UTime Says In Response To Share Price Volatility, Co Has Initiated An Internal Investigation Process To Determine Whether There Is Any Leakage Of Undisclosed Information Or Other Factors That May Affect The Share Price, And May Engage Lawyers To Initiate A Short-Selling Investigation Process As Necessary

Dear Investors, Analysts and Media:

Recently, UTime Ltd ("UTime") has experienced a period of unusual share price volatility in the capital markets. As a responsible company, we understand the concerns of market participants about such situations and believe that it is necessary to provide the public with transparent and formalized information in this regard.

First of all, the Board of Directors and management of the Company are highly concerned about the recent unusual volatility in the share price. We are working closely with the relevant authorities to ensure that all disclosures comply with regulatory requirements and to protect the interests of investors. Currently, the Company is operating normally and there has not been any event affecting the Company's fundamentals. And we have recently announced that we have formally entered the medical industry, entered into cooperation with renowned medical expert Dr. Ehud Baron and authoritative trial organizations, and plan to acquire a laboratory focusing on the development of monkeypox vaccine.

Secondly, we have noticed various speculations and rumors about the Company in the market, and would like to solemnly declare that, unless released through official channels, please do not believe in unconfirmed news. The Company will remain committed to creating value for shareholders and maintaining stable business growth.

In response to this share price volatility, the Company has initiated an internal investigation process to determine whether there is any leakage of undisclosed information or other factors that may affect the share price, and may engage lawyers to initiate a short-selling investigation process as necessary. Meanwhile, we will strengthen communication with investors to ensure the fairness and transparency of the market.

Finally, the Company calls on all investors to remain rational and not to be swayed by short-term market sentiment. We promise that once there is any new progress or information to be announced, we will notify you at the first time through formal channels.

Thank you for your understanding and support. The Company will continue to monitor the situation and provide updated information as necessary. Please stay tuned to our official announcement.