| BORROWINGS |
NOTE
10 — BORROWINGS
SCHEDULE OF BORROWINGS
| | |
| |
As
of
March 31, | | |
As
of
September 30, | |
| | |
Note | |
2025 | | |
2025 | |
| | |
| |
RMB | | |
RMB | |
| Short-term borrowings | |
| |
| | | |
| | |
| China Resources Bank of Zhuhai Co., Ltd.
Loan 3 | |
(a) | |
| 22,000 | | |
| 22,000 | |
| ICBC Loan 3 | |
(b) | |
| 7,600 | | |
| 7,000 | |
| Bank of Beijing Loan 1 | |
(c) | |
| 5,000 | | |
| 5,000 | |
| Bank of Beijing Loan 2 | |
(d) | |
| 5,000 | | |
| 5,000 | |
| China Resources SZITIC Trust Company Limited
Loan 2 | |
(e) | |
| 5,000 | | |
| 5,000 | |
| SH PuDong Development Bank | |
(h) | |
| 8,000 | | |
| 8,000 | |
| China Post Savings Bank Meilin Branch | |
(i) | |
| 5,000 | | |
| 5,000 | |
| Tianjin Jincheng Bank Co., Ltd. | |
| |
| - | | |
| 367 | |
| Bank of China Wenjin
Square Sub-branch | |
| |
| - | | |
| 5,000 | |
| | |
| |
| 57,600 | | |
| 62,367 | |
| Long-term borrowings | |
| |
| | | |
| | |
| Guangxi Beibu Gulf Bank Loan 1 | |
(f) | |
| 5,000 | | |
| 5,000 | |
| Guangxi Beibu Gulf
Bank Loan 2 | |
(g) | |
| 1,000 | | |
| 700 | |
| | |
| |
| 6,000 | | |
| 5,700 | |
UTIME
LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share data and per share data, or otherwise noted)
NOTE
10 — BORROWINGS (cont.)
| (a) |
On
November 10, 2023, UTime SZ entered into a working capital loan agreement with China Resources Bank of Zhuhai Co., Ltd., to borrow
RMB22
million as working capital at an annual effective interest rate of 3.55%.
The loan was rollover in November 2024 and November 2025. The loan will be due in November 2026 with interest rate of 4.0%.
The Company mortgaged the office owned by UTime SZ. |
| |
|
| (b) |
On
December 11, 2023, UTime SZ entered into a loan agreement with ICBC, to borrow RMB8
million as working capital at an annual effective interest rate of 3.85%.
The loan was renewed in December 2024 and December 2025. The loan will be due in November 2026 with interest rate of 3.2%. |
| |
|
| (c) |
On
January 2, 2024, UTime SZ entered into a credit agreement with Bank of Beijing, according to which Bank of Beijing agreed to provide
UTime SZ with a credit facility of up to RMB10 million with a three-year term from January 2, 2024 to January 2, 2027. On January
2, 2024, UTime SZ entered into a loan agreement with Bank of Beijing, to borrow RMB5 million as working capital at an annual effective
interest rate of 4.05%. The loan is guaranteed by Mr. Bao and his spouse and will be due in January 2027. |
| |
|
| (d) |
On
February 27, 2024, UTime SZ entered into a loan agreement with Bank of Beijing, to borrow RMB5 million as working capital at an annual
effective interest rate of 4.05%. The loan is guaranteed by Mr. Bao and his spouse and will be due in January 2027. |
| |
|
| (e) |
On
March 26, 2025, UTime SZ entered into a working capital loan agreement with China CITIC Bank, to borrow RMB5
million as working capital at an annual effective interest rate of 3.6%.
The loan is guaranteed by Mr. Bao and will be due in March 26, 2026. |
| |
|
| (f) |
On
January 25, 2024, UTime Guangxi entered into a working capital loan agreement with Guangxi Beibu Gulf Bank to borrow RMB5
million as working capital at an annual effective interest rate of 3.35%.
The loan is guaranteed by Mr. Bao and his spouse, Mr. He Bo, the legal representative of UTime Guangxi, UTime SZ and Nanning Nanfang
Financing Guarantee Co., Ltd, a third party. The loan was rolled over in January 2025 and, as a result, the loan will be due in
January 2027 with interest rate of 4.5%.
. |
UTIME
LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share data and per share data, or otherwise noted)
NOTE
10 — BORROWINGS (cont.)
| (g) |
On
January 26, 2024, UTime Guangxi entered into a working capital loan agreement with Guangxi Beibu Gulf Bank, to borrow RMB1
million as working capital at an annual effective interest rate of 3.35%.
The loan is guaranteed by Mr. Bao and his spouse, Mrs. He Bo, the legal representative of UTime Guangxi, UTime SZ and Nanning
Nanfang Financing Guarantee Co., Ltd, a third party. The loan was rolled over in January 2025 and, as a result, the loan will be due in January 2027
with interest rate of 4.5%. |
| |
|
| (h) |
On
May 8, 2025, UTime SZ entered into a working capital loan agreement with Shanghai Pudong Development Bank to borrow RMB8 million
as working capital at an annual effective interest rate of 4.32%. The loan will be due in April 2026. |
| |
|
| (i) |
In
February 2025, UTime SZ entered into a credit agreement with Postal Savings Bank of China Bank to borrow RMB5
million for a term of one
years with interest rate of 3.66%. The loan was originally due in February 2026 and was renewed for another year such that it will be due in February 2027. Mr. Bao is a co-borrower for this
loan. |
|