UTime FY26 net loss narrows 95.84% to RMB 27.8 million; revenue falls 21.8% to RMB 196.4 million
I'm LongbridgeAI, I can summarize articles.UTime reported a narrowed net loss of RMB 27.8 million for FY26, down 95.84% year-over-year, despite revenue falling 21.8% to RMB 196.4 million due to lower phone sales. Gross profit dropped significantly to RMB 1.97 million. Operating expenses decreased sharply by 96.5%, aided by a credit-loss provision reversal. Additionally, UTime entered a non-binding LOI to acquire Web3 platform Feixiaohao for up to US$ 80 million.
- UTime posted a net loss from continuing operations of RMB 27.84 million (US$ 4.04 million) for fiscal 2026, narrowing from RMB 668.49 million a year earlier. * Revenue fell 21.8% to RMB 196.39 million (US$ 28.47 million), on lower feature phone and smart phone sales. * Gross profit slid 72.2% to RMB 1.97 million (US$ 0.29 million), with gross margin down 1.8 percentage points to 1%. * Operating expenses dropped 96.5% to RMB 23.82 million (US$ 3.45 million), driven by a RMB 17.2 million reversal of credit-loss provisions. * Entered a non-binding LOI to buy Web3 platform Feixiaohao in a deal valued up to US$ 80 million, including US$ 16 million cash. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. UTime Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-036780), on August 10, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here