UTime Limited Confirms Board Stability Amid False Releases

Author: Evelyn Baker Updated: 09-11-2025 04:16 PM

UTime Limited Reassures Stakeholders on Leadership Stability

UTime Limited, a prominent player in the mobile device sector, has recently communicated significant developments regarding its management and board structure. The company, trading under the ticker NASDAQ: WTO, has taken proactive measures to address misinformation circulated by a former employee. This statement aims to clarify that the leadership team remains unchanged despite claims made in two unauthorized press releases.

Addressing Unauthorized Communications

On the same day of the misleading announcements, UTime Limited confirmed that both releases falsely stated the resignation of key management personnel and changes to the company's website URL. Consequently, UTime’s Board of Directors and management team remain intact. Specifics include the continued tenure of Mr. Hengcong Qiu as CEO and Chairman, along with Mr. Minfei Bao retaining his role as Director.

Responding to Misinformation

The company believes the unauthorized releases were the result of a deliberate attempt by a former employee involved in investor relations to disrupt operations. UTime is actively working to mitigate the impacts of these false claims. The company's current leadership, including its board members, assures stakeholders of their dedication to maintaining operational integrity.

Measures Taken to Protect Interests

In light of these events, UTime Limited is taking robust actions to secure its regulatory disclosures and protect stakeholder interests. This includes notifying regulatory authorities, such as notifying the SEC about the fraudulent filings, and undertaking necessary investigations to hold responsible parties accountable.

Commitment to Transparency and Governance

UTime Limited emphasizes its commitment to transparency and adhering to the highest corporate governance standards. The company recognizes the importance of shareholder trust and aims to keep stakeholders informed with timely updates on pertinent matters.

About UTime Limited

Engaged in designing, developing, producing, and selling mobile devices worldwide, UTime Limited operates with the goal of offering cost-effective technology solutions. The company’s dedication to quality and innovation sets it apart in a competitive market. For further details regarding UTime Limited, please visit their official site.

Frequently Asked Questions

What event prompted UTime Limited to release this statement?

UTime Limited issued this statement in response to unauthorized press releases that falsely claimed changes to management and the company's website.

Who are the key executives mentioned in the article?

Mr. Hengcong Qiu is the CEO and Chairman, while Mr. Minfei Bao is a Director. Both have confirmed their ongoing positions with UTime Limited.

What actions is UTime Limited taking against the misinformation?

UTime Limited is reporting the fraudulent actions to the SEC and investigating the matter to prevent further disruptions.

How does UTime Limited ensure corporate governance?

The company is committed to transparency and maintaining high standards of governance to build and preserve shareholder trust.

Is UTime Limited focusing on expanding its market presence?

Yes, UTime Limited aims to broaden its customer base globally while continuing to innovate in the mobile device market.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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