UTime Limited Announces Board Changes and Confirms Corporate Governance Stability
UTime Limited (NASDAQ: UTME) has announced significant changes to its Board of Directors and confirmed its corporate governance stability. The company disclosed the resignation of four directors on September 4, 2025, followed by the appointment of five new directors on September 8-9, 2025.
Key appointments include Wang Tianlong as CEO and Chairman of the Board, along with three independent directors: Ouyang Xuan (Audit Committee Chair), Tong Shirong (Compensation Committee Chair), and Liu Zhongping (Nomination and Governance Committee Chair). Wu Xiaoxia was also appointed as Director.
The company emphasizes that its governance mechanisms remain intact, business operations continue normally, and it maintains commitment to NASDAQ compliance and transparency.
UTime Limited (NASDAQ: UTME) ha annunciato rilevanti cambiamenti nel suo Consiglio di Amministrazione e ha confermato la solidità della governance aziendale. La società ha reso noto le dimissioni di quattro amministratori il 4 settembre 2025, seguite dalla nomina di cinque nuovi membri del board tra l'8 e il 9 settembre 2025.
Le nomine chiave includono Wang Tianlong come CEO e Presidente del Consiglio, oltre a tre amministratori indipendenti: Ouyang Xuan (Presidente del Comitato di Revisione), Tong Shirong (Presidente del Comitato per le Remunerazioni) e Liu Zhongping (Presidente del Comitato per le Nomine e la Governance). Wu Xiaoxia è stata inoltre nominata amministratore.
La società sottolinea che i suoi meccanismi di governance restano integri, le operazioni aziendali proseguono normalmente e rimane impegnata nella conformità al NASDAQ e nella trasparenza.
UTime Limited (NASDAQ: UTME) ha anunciado cambios significativos en su Consejo de Administración y ha confirmado la estabilidad de su gobierno corporativo. La compañía informó la renuncia de cuatro directores el 4 de septiembre de 2025, seguida del nombramiento de cinco nuevos directores entre el 8 y 9 de septiembre de 2025.
Entre los nombramientos clave figuran Wang Tianlong como CEO y Presidente del Consejo, así como tres directores independientes: Ouyang Xuan (Presidente del Comité de Auditoría), Tong Shirong (Presidente del Comité de Compensación) y Liu Zhongping (Presidente del Comité de Nombramientos y Gobernanza). También se nombró a Wu Xiaoxia como directora.
La compañía enfatiza que sus mecanismos de gobierno permanecen intactos, las operaciones comerciales continúan con normalidad y mantiene su compromiso con el cumplimiento de NASDAQ y la transparencia.
UTime Limited (NASDAQ: UTME)는 이사회에 중대한 변경을 발표하고 기업 지배구조의 안정성을 확인했습니다. 회사는 2025년 9월 4일에 이사 4명의 사임을 공시했으며, 2025년 9월 8~9일에 5명의 신임 이사를 선임했습니다.
주요 선임 인사로는 Wang Tianlong이 CEO 겸 이사회 의장으로 임명되었고, 독립 이사로는 Ouyang Xuan(감사위원회 위원장), Tong Shirong(보상위원회 위원장), Liu Zhongping(지명 및 거버넌스위원회 위원장)이 포함되었습니다. 또한 Wu Xiaoxia가 이사로 선임되었습니다.
회사는 지배구조 체계가 유지되고 있으며 사업 운영이 정상적으로 계속되고 있고, NASDAQ 규정 준수 및 투명성에 대한 의지를 계속 지니고 있음을 강조했습니다.
UTime Limited (NASDAQ: UTME) a annoncé des changements importants au sein de son conseil d'administration et a confirmé la stabilité de sa gouvernance d'entreprise. La société a annoncé la démission de quatre administrateurs le 4 septembre 2025, suivie de la nomination de cinq nouveaux administrateurs les 8 et 9 septembre 2025.
Parmi les nominations clés figurent Wang Tianlong en tant que PDG et président du conseil, ainsi que trois administrateurs indépendants : Ouyang Xuan (président du comité d'audit), Tong Shirong (président du comité des rémunérations) et Liu Zhongping (président du comité des nominations et de la gouvernance). Wu Xiaoxia a également été nommée administratrice.
La société souligne que ses mécanismes de gouvernance demeurent en place, que les opérations commerciales se poursuivent normalement et qu'elle reste engagée envers la conformité au NASDAQ et la transparence.
UTime Limited (NASDAQ: UTME) hat wesentliche Änderungen in seinem Verwaltungsrat angekündigt und die Stabilität der Unternehmensführung bestätigt. Das Unternehmen gab den Rücktritt von vier Direktoren am 4. September 2025 bekannt, gefolgt von der Ernennung von fünf neuen Direktoren am 8. und 9. September 2025.
Zu den wichtigen Ernennungen gehört Wang Tianlong als CEO und Vorstandsvorsitzender sowie drei unabhängige Direktoren: Ouyang Xuan (Vorsitzender des Prüfungsausschusses), Tong Shirong (Vorsitzender des Vergütungsausschusses) und Liu Zhongping (Vorsitzender des Nominierungs- und Governance-Ausschusses). Wu Xiaoxia wurde ebenfalls zum Direktor ernannt.
Das Unternehmen betont, dass seine Governance-Strukturen intakt bleiben, der Geschäftsbetrieb normal weiterläuft und es sich zur NASDAQ-Compliance sowie zur Transparenz verpflichtet fühlt.
- Prompt appointment of new qualified directors maintaining board continuity
- Establishment of complete committee structure with independent directors
- Clear commitment to NASDAQ compliance and corporate governance standards
- Sudden resignation of four directors simultaneously raises governance concerns
- Significant board turnover could potentially impact strategic continuity
Insights
Complete board overhaul at UTime with new CEO/Chairman installed amid resignation of four directors, maintaining governance continuity.
This announcement details a significant leadership transition at UTime Limited (NASDAQ: WTO), with an almost complete board overhaul following the resignation of four directors and appointment of five new ones, including Wang Tianlong as CEO and Chairman. The timing and orchestration of these changes suggest a coordinated succession plan rather than a chaotic departure scenario, with new appointments made within 4-5 days of the resignations.
The company has constructed a proper governance structure with the new appointments, establishing all required committees (Audit, Compensation, Nomination and Governance) with independent directors chairing each committee. Notably, the new board includes two female directors (Ouyang Xuan and Wu Xiaoxia), potentially improving board diversity. The new leadership skews younger, with the CEO aged 39 and another director just 32 years old.
The press release strategically emphasizes governance stability, repeatedly stating that operations continue normally and all changes follow proper procedures. This defensive positioning suggests potential investor concerns about the transition that the company is trying to preemptively address. The company's unusual ticker symbol (WTO rather than UTME mentioned in the title) and the oddly future-dated press release (September 2025) raise questions about document accuracy that investors should verify.
While the announcement provides basic biographical information on new appointees, it lacks details on their relevant industry experience or qualifications for their roles, which would be standard in governance best practices. The company's reassurance about information disclosure obligations may indicate heightened regulatory scrutiny or previous disclosure issues.
7th Floor, Building 5A
Shenzhen Software Industry Base, Nanshan District
Shenzhen, People’s Republic of China 518061
Shenzhen, China, Sept. 11, 2025 (GLOBE NEWSWIRE) -- UTime Limited (Nasdaq: WTO, the “Company”) today confirms that recent changes to its Board of Directors have been completed in accordance with the Company's Articles of Association and relevant procedures, and have been publicly announced. The Company reiterates that its Board structure remains intact, governance mechanisms are functioning normally, and business operations have not been affected.
Director Resignations
On September 4, 2025, the Company received formal written resignations from directors Qiu Hengcong, Bao Minfei, Xie Hailin, and Jia Xiaoqian. These resignations were disclosed to the public via Company announcements and became effective upon submission. Pursuant to U.S. securities laws and Nasdaq corporate governance rules, such resignations are legally effective upon submission.
New Director Appointments
Pursuant to the Company's Articles of Incorporation and relevant procedures, the Board of Directors formally appointed the following individuals on September 8–9, 2025:
Wang Tianlong, male, 39 years old, Bachelor of Software Engineering from Hebei University, appointed as Chief Executive Officer and Chairman of the Board;
Ouyang Xuan, female, 32 years old, Bachelor of International Trade from Guangdong University of Foreign Studies, appointed as Independent Director and Chairperson of the Audit Committee, a member of Compensation Committee and Nomination and Governance Committee;
Tong Shirong, male, 52 years old, Master of Business Administration from Tongji University, appointed as Independent Director and Chairman of the Compensation Committee, a member of Audit Committe and Nomination and Governance Committee;
Liu Zhongping, male, 47 years old, Bachelor of Business Administration from Hebei University of Economics and Business, appointed as Independent Director and Chairman of the Nomination and Governance Committee, a member of Audit Committee and Compensation Committee;
Wu Xiaoxia, female, 37 years old, Bachelor of Public Administration from Huaxin College of Hebei University of Geosciences, appointed as Director.
The above appointments have been approved by the Board of Directors and publicly announced through company disclosures, rendering them legally effective. The newly appointed directors have formally assumed their duties. The corporate governance structure is sound and operates smoothly.
Information Disclosure
The Company reminds investors that all valid information concerning the Board of Directors shall be based on the Company's official announcements.
Governance and Operations
With the establishment of the new Board structure, the corporate governance mechanism is clear and effective. Management is fully performing its duties, and daily operations and strategic execution are progressing normally.
Company Commitment
UTime Limited will continue to:
1) Strictly comply with information disclosure obligations and NASDAQ corporate governance standards;
2) Provide accurate and timely information to the market;
3) Uphold principles of compliance, transparency, and sound governance to maintain and enhance long-term value for shareholders and investors.
About UTime Limited
Trading under the NASDAQ ticker WTO, UTime Limited is engaged in the design, development, production, sales and brand operation of mobile devices in China and globally. The company aims to provide cost-effective products and serves a broad customer base.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. The forward-looking statements discussed in this press release and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us, including those described in UTime Limited’s Annual Report on Form 20-F and our other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable law.
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