Decrease mainly due to the drop of OEM/ODM sales in China and non-recurring orders of face masks sales in the South America, and decrease of in-house brand product in India.Įxchange rate between RMB and US Dollar considerably affected the Company's financial results, as more than 50% of our products were sold to customers outside of mainland China, and the exchange rate between the Indian Rupee and US Dollar considerably affected financial results relating to one of the Company's primary subsidiaries, Do Mobile India Private Ltd., which operates in India. Net loss reached RMB9.3 million (US$1.4 million), compared to net income of RMB 7.0 million during the same period last year. Gross profit margin decreased from 12.8% to 8.2% primarily due to significant increase in raw material prices, especially in integrated circuit ("IC") and screens. Revenue contribution increased from 4% to 13.5%. Rapid growth in Africa, especially established OEM/ODM clients. Revenue from Original Equipment Manufacturer ("OEM") and Original Design Manufacturer ("ODM") services decreased from RMB129.0 million to RMB100.2 million (US$15.4 million), a 22% decrease mainly due to the decrease in sales of feature phones and smart phones. Shenzhen, China, March 30, 2022/PRNewswire/ - UTime Limited ("UTime" or the "Company") (Nasdaq: UTME), a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals from established and emerging markets, have better access to updated mobile technology, today announced its financial results for the first six months of fiscal year 2022 ended September 30, 2021.įirst Six Months of Fiscal Year 2022 Financial and Operational HighlightsĪll financial figures are in US Dollars unless otherwise noted. UTime only just launched its IPO on Tuesday.UTime Announces Financial Results for The First Six Months engages in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics. This saw the company offering up 3.75 million shares of UTME stock at a price of 4 each. That set the company up to earn 15 million in gross proceeds. View UTime Limited UTME investment & stock information. The firm also provides Electronics Manufacturing Services, including Original Equipment Manufacturer and Original Design Manufacturer services, for well-known brands, such as TCL Communication Technology Holdings, Ltd., a subsidiary of TCL Corp., Haier Electronics Group Co., Ltd., a subsidiary of Haier Group Corp., and Quality One Wireless LLC, based in Orlando, Florida. Ultima Capital SA is a Switzerland-based company engaged in the hospitality industry. The stock price of UTime (NASDAQ: UTME) increased by 110.69 today. Get the latest UTime Limited UTME detailed stock quotes, stock data, Real-Time ECN, charts. The Company owns, develops and operates luxury real estate properties. Its property portfolio consists of around 39 hotels, residences, chalets, villas and plots. In addition, The Company offers amenities, such as accommodation, private movie theater, arcade. These are some details about the company you should know about. The stock price of UTime (NASDAQ: UTME) a mobile device manufacturing company committed to providing cost-effective products and solutions to consumers globally and helping low-income individuals from established and. The company operations are based in China whereas most of the products are sold globally, including India, Brazil, the United States, and other emerging markets in South Asia and Africa as well as Europe. Learn about UTime Ltd (UTME:XNAS) stock quote with Morningstar's rating and analysis and stay up to date with the current news, price, valuation, dividends and other stock information to help with. It operates through two in-house brands, “UTime,” which is known as middle-to-high end label and targets middle class consumers from emerging markets and “Do”, as low-to mid-end brand, is positioned to the majority of grassroots consumers and price-sensitive consumers in emerging markets. UTME stock’s price has reached 1.390 on 2022 July 15, Friday and it has been dropping for the last year. Here’s everything investors need to know about UTME stock. The company was founded by Minfei Bao, Junlin Zhou and Bo Tang in June 2008 and is headquartered in Shenzhen, China. The price of the UTime Ltd stock has been decreasing and this downward trend was also noticeable in similar market segments during this time period. With the help of Deep Learning our custom algorithm evaluates UTME to be an bad addition to our users’ portfolio.
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