NOTE
13 — RELATED PARTIES BALANCES AND TRANSACTIONS
Related
parties with whom the Company had transactions are:
SCHEDULE OF RELATED PARTIES TRANSACTIONS
| Related
Parties |
|
Relationship |
| Mr.
Minfei Bao |
|
Director of the Company |
| |
|
|
| Mr.
Min He |
|
Beneficial
shareholder of the Company |
| |
|
|
| Mr.
Wu Cong |
|
Director
of the Company |
| |
|
|
| Philectronics |
|
An
equity method investee of the Company |
| |
|
|
| Grandsky
Phoenix Limited |
|
100%
owned by Mr. Bao |
| (1) |
Due
from related parties |
| | |
As
of
March 31, | | |
As
of
September 30, | |
| | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | |
| | |
| | |
| |
| Philectronics | |
| 566 | | |
| 555 | |
| | |
| | | |
| | |
| Total | |
| 566 | | |
| 555 | |
UTIME
LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share data and per share data, or otherwise noted)
NOTE
13 — RELATED PARTIES BALANCES AND TRANSACTIONS (cont.)
| (2) |
Due
to related parties |
| | |
As
of
March 31, | | |
As
of
September 30, | |
| | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | |
| | |
| | |
| |
| Mr. Minfei Bao | |
| 17,279 | | |
| 17,273 | |
| Grandsky Phoenix Limited | |
| 22,503 | | |
| 23,485 | |
| Mr. Wu Cong | |
| 1,005 | | |
| 986 | |
| | |
| 40,787 | | |
| 41,744 | |
| (1) |
On
April 1, 2023, the Company entered into a loan agreement with Grandsky Phoenix Limited to borrow USD 3.5 million, with a term of
one year. The loan is interest free. On April 1, 2024, the Company entered into a supplementary agreement with Grandsky Phoenix Limited,
who agreed to extend the term for additional one year. As of December 31, 2025, the company repaid USD 1,033,800, and the remaining loan balance was extended for one year. |
| |
|
| |
Starting
from July 2024, the Company has successively obtained the interest-free loans from Director Wu totaling RMB 1.0
million. |
|