UTime provides update on due diligence progress for Feixiaohao transaction

UTime (WTO) announced that its ongoing financial, legal and operational due diligence relating to the proposed transaction with Feixiaohao Technology is progressing. As previously disclosed, UTime entered into a non-binding letter of intent regarding a potential strategic transaction involving Feixiaohao. The company believes that both parties have maintained active communication and coordination throughout the due diligence process. UTime and Feixiaohao are currently working closely with their respective advisors and professional teams to evaluate various aspects of the proposed transaction, including business integration opportunities, technology infrastructure, market expansion strategies and long-term development plans.