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Covering Millions of Crypto Users, UTime Signs Non-Binding Letter of Intent to Acquire Data Platform “Feixiaohao” for Web3 Infrastructure Expansion
SHENZHEN, China, March 13, 2026 (GLOBE NEWSWIRE) -- UTime Limited (Nasdaq: WTO), a global technology company engaged in the design, development, and
About this update from Utime Limited
SHENZHEN, China, March 13, 2026 (GLOBE NEWSWIRE) -- UTime Limited (Nasdaq: WTO), a global technology company engaged in the design, development, and manufacturing of mobile devices and smart hardware products, today announced its intention to acquire 100% of the outstanding equity of Feixiaohao Technology Inc., operator of the renowned “Feixiaohao” Web3 Data Analytics & Asset Pricing Platform (feixiaohao.ai). The proposed transaction is valued at up to USD80 million, structured through a combination of USD64 million in UTime ordinary shares or convertible preferred shares and USD16 million in cash consideration. This intended acquisition, upon completion, will mark UTime’s strategic entry into the rapidly growing Web3 and blockchain data infrastructure sector, with the potential to bring millions of cryptocurrency users into its expanding digital ecosystem. Feixiaohao: A Gateway to the Crypto World Feixiaohao Technology Inc. owns and operates one of the most comprehensive Web3 data platforms in the industry, serving millions of cryptocurrency investors and Web3 enthusiasts worldwide. The platform provides essential data services including digital asset pricing, on-chain data analytics, project tracking, and market sentiment monitoring. With extensive coverage across multiple major public blockchains and thousands of digital assets, Feixiaohao has established itself as a trusted gateway for users navigating the complex cryptocurrency landscape. The proposed acquisition would include all technology platforms, source code, databases, trademark rights, and key employee contracts and partnerships related to the Feixiaohao platform. UTime believes that this comprehensive asset package would position UTime to leverage Feixiaohao’s established user base and data infrastructure as a foundation for future growth in Web3 services. Strategic Rationale: Bridging Hardware and Data “With this intended acquisition, we are taking a significant step toward bringing millions of crypto users into the UTime ecosystem,” stated Mr. Hengcong Qiu, CEO of UTime Limited. “We believe that Feixiaohao is not merely a data platform—it is the entry point for millions of users exploring the blockchain world. If completed, this acquisition will enable us to integrate Feixiaohao’s robust data capabilities with UTime’s hardware expertise, creating innovative applications that bridge physica...