GlobeNewswire·Mar 13, 2026, 8:00 AM ET

Covering Millions of Crypto Users, UTime Signs Non-Binding Letter of Intent to Acquire Data Platform "Feixiaohao" for Web3 Infrastructure Expansion

UTime Limited (NASDAQ: WTO) announced its intention to acquire 100% of Feixiaohao Technology Inc., operator of the Web3 data analytics & asset pricing platform feixiaohao.ai.
The proposed transaction is valued at up to USD80 million, structured as USD64 million in UTime ordinary or convertible preferred shares plus USD16 million in cash.
The acquisition marks UTime's strategic entry into the Web3 & blockchain data infrastructure sector with the goal of integrating millions of cryptocurrency users into its digital ecosystem.
Feixiaohao operates a comprehensive platform providing digital asset pricing, on-chain analytics, project tracking, & market sentiment monitoring across multiple public blockchains.
The deal includes all technology platforms, source code, databases, trademark rights, & key employee contracts related to the Feixiaohao platform.
UTime CEO Hengcong Qiu stated the acquisition aims to bridge physical hardware with digital assets by combining UTime's manufacturing expertise with Feixiaohao's data capabilities.
The parties have executed a nonbinding term sheet & commenced preliminary discussions to negotiate a definitive agreement subject to outlined conditions.
UTime Limited designs, develops, manufactures, & sells mobile devices globally under the WTO ticker.
The press release includes forward-looking statements regarding the acquisition's completion & post-acquisition integration plans, noting these are subject to risks & uncertainties.