v3.26.1
ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)
 12 Months Ended
Mar. 31, 2026
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
SCHEDULE OF SUBSIDIARIES AND VIE

As of March 31, 2026, details of the subsidiaries and VIE of the Company are set out below:

 

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

 

 

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 ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS

The following table presents the carrying amounts of assets and liabilities for the discontinued operations of Gesoper and Firts in Mexico and Utime India and Do Mobile in India:

 

   RMB   RMB 
   As of March 31, 
   2025   2026 
   RMB   RMB 
         
Assets classified as discontinued operation   -    - 
           
Liabilities classified as discontinued operation   1,601    1,726 
SCHEDULE OF LOSS FROM DISCONTINUED OPERATION IN THE CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS

The financial results of these operations are presented as following in the consolidated statement of comprehensive loss.

 

   RMB   RMB 
   Year ended March 31, 
   2025   2026 
   RMB   RMB 
           
Loss from discontinued operation, net of income taxes   1,596    - 
Profit on disposal of discontinued operation   -    - 
Variable Interest Entity, Primary Beneficiary [Member]  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
SCHEDULE OF BALANCE SHEET

 

   RMB   RMB 
   As of March 31, 
   2025   2026 
   RMB   RMB 
Assets          
Current assets          
Cash and cash equivalents   517    6,654 

Restricted Cash

   -    288 
Accounts receivable, net   -    3,009 
Prepaid expenses and other current assets, net   11,640    51,580 
Due from related parties   566    32,887 
Inventories   6,351    3,832 

Prepaid tax

   -    3,054 
Total current assets   19,074    101,304 
Non-current assets          
Property, plant and equipment, net   39,599    34,196 
Operating lease right-of-use assets, net   1,714    900 
Finance lease right-of-use assets, net   2,246    1,660 
Intangible assets, net   205    174 
Deferred loss on sale-leaseback   605    435 
Total non-current assets   44,369    37,365 
Total assets   63,443    138,669 
           
Liabilities          
Current liabilities          
Accounts payable   138,504    101,099 
Short-term borrowings   57,600    57,860 
Short Term Portion of long term loan   -    5,400 
Current portion of government grants   1,812    1,812 
Due to related parties   16,949    26,345 

Interest payable to related party

   -    146 
Lease liabilities   4,085    1,203 
Other payables and accrued liabilities   64,604    135,337 
Current liabilities related to discontinued operations   1,601    1,726 
Total current liabilities   285,155    330,928 
Non-current liabilities          
Long-term borrowings   6,000    4,980 
Government grants   2,530    717 
Due to related parties   

-

    

13,150

 
Lease liability - non-current   1,619    416 
Total non-current liabilities   10,149    19,263  
           
Total liabilities   295,304    350,191 
SCHEDULE OF REVENUE NET LOSS 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.

 

   RMB   RMB 
   Year ended March 31, 
   2025   2026 
   RMB   RMB 
Revenue   250,997    196,385 
Net loss   (192,162)   (27,088)
Net cash used in operating activities   (392)   (2,953)
Net cash used in investing activities   -    (44)
Net cash provided by financing activities   6,024    4,640