| SCHEDULE OF SUBSIDIARIES AND VIE |
As
of September 30, 2025, details of the subsidiaries and VIE of the Company are set forth below:
SCHEDULE OF SUBSIDIARIES AND VIE
| Name |
|
Date
of
Incorporation |
|
Place
of
Incorporation |
|
Percentage
of
Beneficial Ownership |
|
Principal
Activities |
| Subsidiaries |
|
|
|
|
|
|
|
|
| UTime
HK |
|
November
1, 2018 |
|
Hong
Kong |
|
100% |
|
Investment
Holding |
| UTime
WFOE |
|
December
18, 2018 |
|
China |
|
100% |
|
Investment
Holding |
| Bridgetime |
|
September
5, 2016 |
|
British
Virgin Island |
|
100% |
|
Investment
Holding |
| Do
Mobile |
|
October
24, 2016 |
|
India |
|
99.99% |
|
Sales
of in-house brand products in India |
UTIME
LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share data and per share data, or otherwise noted)
NOTE
1 — ORGANIZATION AND PRINCIPAL ACTIVITIES (cont.)
| Name |
|
Date
of
Incorporation |
|
Place
of
Incorporation |
|
Percentage
of
Beneficial Ownership |
|
Principal
Activities |
| VIE |
|
|
|
|
|
|
|
|
| UTime
SZ |
|
June
12, 2008 |
|
China |
|
100% |
|
Research
and development of products, and sales |
| Subsidiaries
of the VIE |
|
|
|
|
|
|
|
|
| Guizhou
United Time Technology Co., Ltd. (“UTime GZ”) |
|
September
23, 2016 |
|
China |
|
VIE’s
subsidiary |
|
Manufacturing |
| UTime
Technology (HK) Company Limited (“UTime Trading”) |
|
June
25, 2015 |
|
Hong
Kong |
|
VIE’s
subsidiary |
|
Trading |
| UTime
India Private Limited (“UTime India”) |
|
February
7, 2019 |
|
India |
|
UTime
Trading’s subsidiary |
|
Trading |
| Guangxi
UTime Technology Co., Ltd. (“UTime Guangxi”) |
|
November
1, 2021 |
|
China |
|
UTime
Trading’s subsidiary |
|
Manufacturing |
| Gesoper
S De R.L. De C.V. (“Gesoper”) |
|
October
21, 2020 |
|
Mexico |
|
UTime
Trading’s subsidiary |
|
Trading |
| Firts
Communications And Technologies De Mexico S.A. De C.V. (“Firts”) |
|
November
12, 2021 |
|
Mexico |
|
Gesoper’s
subsidiary |
|
Trading |
|
| SCHEDULE OF BALANCE SHEET |
SCHEDULE OF BALANCE SHEET
| | |
As of | | |
As of | |
| | |
March
31, | | |
September
30, | |
| | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | |
| Assets | |
| | | |
| | |
| Current assets | |
| | | |
| | |
| Cash and cash equivalents | |
| 517 | | |
| 8,394 | |
| Accounts receivable, net | |
| - | | |
| 51,171 | |
| Prepaid expenses and other current assets,
net | |
| 11,640 | | |
| 15,911 | |
| Due from related parties | |
| 566 | | |
| 555 | |
| Inventories | |
| 6,351 | | |
| 4,694 | |
| Total
current assets | |
| 19,074 | | |
| 80,725 | |
| Non-current assets | |
| | | |
| | |
| Property and equipment, net | |
| 39,599 | | |
| 36,684 | |
| Operating lease right-of-use assets, net | |
| 1,714 | | |
| 1,172 | |
| Finance lease right-of-use assets, net | |
| 2,246 | | |
| 2,246 | |
| Intangible assets, net | |
| 205 | | |
| 189 | |
| Deferred loss on sale-leaseback | |
| 605 | | |
| 526 | |
| Total
non-current assets | |
| 44,369 | | |
| 40,817 | |
| Total
assets | |
| 63,443 | | |
| 121,542 | |
| | |
| | | |
| | |
| Liabilities | |
| | | |
| | |
| Current liabilities | |
| | | |
| | |
| Accounts payable | |
| 138,504 | | |
| 184,720 | |
| Short-term borrowings | |
| 57,600 | | |
| 62,367 | |
| Notes payable | |
| - | | |
| 8,000 | |
| Current portion of government grants | |
| 1,812 | | |
| 1,812 | |
| Due to related parties | |
| 16,949 | | |
| 17,162 | |
| Lease liability | |
| 4,085 | | |
| 2,554 | |
| Other payables and accrued liabilities | |
| 64,604 | | |
| 55,955 | |
| Current liabilities related
to discontinued operations | |
| 1,601 | | |
| - | |
| Total
current liabilities | |
| 285,155 | | |
| 332,570 | |
| Non-current liabilities | |
| | | |
| | |
| Long-term borrowings | |
| 6,000 | | |
| 5,700 | |
| Government grants | |
| 2,530 | | |
| 1,623 | |
| Lease liability - non-current | |
| 1,619 | | |
| 1,014 | |
| Total
non-current liabilities | |
| 10,149 | | |
| 8,337 | |
| | |
| | | |
| | |
| Total
liabilities | |
| 295,304 | | |
| 340,907 | |
|
| SCHEDULE OF REVENUE NET INCOME AND CASH FLOWS OF VIE AND SUBSIDIARIES |
The
table sets forth the revenue, net loss and cash flows of the VIE and subsidiaries of VIE in the table below.
SCHEDULE
OF REVENUE NET INCOME AND CASH FLOWS OF VIE AND SUBSIDIARIES
| | |
2024 | | |
2025 | |
| | |
Six
months ended September 30, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | |
| Revenue | |
| 138,405 | | |
| 99,531 | |
| Net (loss)/income | |
| (13,637 | ) | |
| 9,123 | |
| Net cash (used in)/provided by operating activities | |
| (4,520 | ) | |
| 2,171 | |
| Net cash used in investing activities | |
| - | | |
| (44 | ) |
| Net cash provided by financing activities | |
| 2,048 | | |
| 4,467 | |
|