UTime receives Nasdaq deficiency notice over equity requirement

UTime Limited (NASDAQ: WTO) received a notification letter from Nasdaq on August 15 stating the company no longer meets the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market.

The Beijing-based company falls below the required $2.5 million in stockholders' equity based on its Form 20-F filing for the year ended March 31, 2025. UTime also does not meet alternative requirements for market value of listed securities or net income from continuing operations as of August 14.

The notification does not immediately affect the trading of UTime's Class A ordinary shares on Nasdaq. The company has 45 calendar days until September 29 to submit a compliance plan to Nasdaq. If accepted, the plan could grant an extension of up to 180 calendar days from the notification date.

UTime stated it will work with advisors to submit a compliance plan. The company disclosed the Nasdaq notification in accordance with Nasdaq Listing Rule 5815(a).

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