UTime FY26 net loss narrows 95.84% to RMB 27.8 million; revenue falls 21.8% to RMB 196.4 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.

UTime also entered a non-binding LOI to buy Web3 platform Feixiaohao in a deal valued up to US$ 80 million, including US$ 16 million cash.