UTime Signs Nearly $10M Smart Health Device Procurement Agreement with Tumu Vertex
UTime announced its Hong Kong subsidiary, UTime Technology, has officially signed a smart health device procurement agreement worth nearly $10M with Tumu Vertex. Under the signed sales agreement, Tumu Vertex has placed an initial purchase order for 50,000 smart health devices from UTime, comprising: 25,000 units of the UT-168 BT Blood Pressure Watch and 25,000 units of the UR08 ECG Smart Ring; 25,000 units of the UT-368 4G Blood Pressure Watch and 25,000 units of the UR01 Smart Ring. According to the agreement, the first batch of products will begin delivery in the first quarter of 2026, with all products undergoing joint quality control procedures established by both parties. "This cooperation represents a significant strategic breakthrough for us in the North American market," stated UTime's CEO during the signing ceremony. "As our important partner in Colorado, Tumu Vertex's order for 50,000 units demonstrates not only market recognition of our technological capabilities but also opens the door to the North American medical-grade wearable market. We aim to use this opportunity to accelerate the development and implementation of next-generation health monitoring technologies as part of our product portfolio."
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- Share Consolidation Details: UTime Limited will implement a 5-for-1 share consolidation on February 17, 2026, increasing the par value from $0.10 to $0.50 per share, aimed at enhancing stock liquidity and market appeal.
- Board Approval: The consolidation plan was approved by the board on January 20, 2026, and received shareholder support at the extraordinary general meeting on January 26, reflecting transparency in corporate governance and shareholder confidence.
- Impact on Shareholders: The consolidation will not affect shareholders' percentage ownership, although minor adjustments will occur due to fractional shares, ensuring protection of shareholder rights and market stability.
- Company Background: UTime Limited engages in the design, development, and sales of mobile devices globally, focusing on providing cost-effective products to expand its customer base in both China and international markets.
- Share Consolidation Plan: UTime announced a 1-for-5 share consolidation effective February 17, aimed at boosting its stock price to comply with Nasdaq's minimum bid price requirement, despite a 37% drop in shares last Friday.
- Shareholder Approval: Last month, shareholders approved a proposal for the board to implement either a 1-for-5 or 1-for-6 share consolidation, alongside plans to increase authorized share capital and amend the company's governing documents to strengthen its capital structure.
- Frequent Consolidations: This latest share consolidation marks UTime's third reverse split within a year, following a 1-for-10 split in March and a 1-for-100 split in November, indicating ongoing financial pressures faced by the company.
- Business Collaboration Progress: UTime's subsidiary signed an agreement with Shenzhen Yunwei Digital Technology to potentially supply 500,000 smart servers valued at approximately $50 million, showcasing the company's expansion potential in the smart device sector.
- Share Consolidation Announcement: UTime has announced the consolidation of every five class A ordinary shares with a par value of $0.10 into one class A ordinary share with a par value of $0.50, aiming to enhance liquidity and attract more investor interest.
- Effective Date: The consolidation will take effect at 8:00 a.m. Eastern Time on February 17, 2026, when the company's shares will begin trading on the Nasdaq Capital Market on a post-split basis, which is expected to impact market performance.
- Market Reaction: Following the consolidation announcement, UTime's stock fell 32.71% in premarket trading to $0.68, reflecting a negative market reaction that may affect investor confidence.
- Strategic Implications: Through this consolidation, UTime aims to improve its capital structure; although short-term stock price volatility is significant, it may enhance the company's image and attractiveness in the capital markets over the long term.
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