Who Owns Shenzhen United Time Technology Co. Company?

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Who Really Owns Shenzhen United Time Technology?

Unraveling the Shenzhen United Time Technology Co. SWOT Analysis is a critical step for any investor or stakeholder. Understanding the United Time Technology ownership structure is paramount for assessing its strategic direction and long-term viability. The company's journey from a private entity to a publicly traded one, marked by its IPO, has reshaped its ownership landscape significantly.

As a Chinese tech company, Shenzhen United Time Technology's ownership structure is a key factor influencing its operations and future prospects. Knowing Who owns United Time Technology provides valuable insights into its decision-making processes and financial stability. We will explore the company's evolution from its founders through its public listing, examining the influence of key investors and the current distribution of shares, offering a comprehensive understanding of the Company ownership.

The story of Shenzhen United Time Technology (UTime SZ) began in June 2008. The company was founded by Mr. Minfei Bao, Mr. Junlin Zhou, and Mr. Bo Tang, who initially shared the company's equity.

Early ownership details reveal that Mr. Bao held the largest stake. Understanding the evolution of United Time Technology ownership provides insight into the company's strategic shifts and financial decisions over time.

The initial ownership structure set the stage for the company's future, with Mr. Bao holding a majority stake. This early ownership structure is key to understanding the company's development.

Initial Ownership

As of March 31, 2017, Mr. Bao held a 52% equity interest in UTime SZ. Mr. Zhou held 28%, and Mr. Tang held 20%.

Bao's Consolidation

In February 2018, Mr. Bao acquired the equity interests of Mr. Zhou and Mr. Tang, becoming the sole shareholder of UTime SZ.

New Investor

In April 2019, a board resolution allowed Mr. Min He, the controlling shareholder of HMercury Capital Limited, to purchase an equity interest.

Equity Purchase

Mr. He purchased a RMB 21.4 million (approximately US$3.0 million) equity interest in UTime SZ.

Final Ownership Structure

By the date of the prospectus, Mr. Bao, through Grandsky Phoenix Limited, and Mr. He, through HMercury Capital Limited, held 96.95% and 3.05% equity interests, respectively, in UTime Limited (the Cayman Islands holding company).

VIE Structure

The company operates in China through a Variable Interest Entity (VIE) structure, relying on contractual agreements rather than direct equity ownership due to Chinese foreign investment regulations.

Key Takeaways

Understanding Who owns United Time Technology involves tracing the ownership transitions from the founders to the current structure. The shift to a VIE structure is a common practice for Chinese tech companies. For more information about the company's growth, see the Growth Strategy of Shenzhen United Time Technology Co.

• Mr. Bao initially held the majority stake.
• Mr. Bao consolidated ownership by acquiring shares from other founders.
• Mr. He, through HMercury Capital Limited, later acquired an equity interest.
• The company operates through a VIE structure in China.

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The path of Shenzhen United Time Technology to becoming a publicly traded entity significantly reshaped its United Time Technology ownership structure. The initial public offering (IPO) on April 6, 2021, marked a pivotal moment, with the company listing on NASDAQ under the symbol UTME, later changing to WTO. This transition from a privately held entity to a publicly traded one introduced a diverse range of investors, altering the ownership landscape from its pre-IPO concentration.

Prior to the IPO, the ownership was largely concentrated. Mr. Minfei Bao, through Grandsky Phoenix Limited, held a substantial 96.95% equity interest, while Mr. Min He, via HMercury Capital Limited, held 3.05%. The IPO aimed to raise an estimated $15 million by offering 3.8 million shares at a price range of $4.00. As of May 26, 2025, the company's market capitalization was approximately $6.3 million. This shift brought in institutional and individual investors, diversifying the ownership base of this Chinese tech company.

Post-IPO, the ownership structure of Shenzhen United Time Technology Co. Ltd. includes a mix of insider and institutional investors. As of August 28, 2023, insiders held 54.64% of the ownership, while institutions held 1.05%. Key shareholders include Capital Vista Ltd. with 20.84% equity, and UBS Group AG (as a 13f Subfiler) with 0.7364%. Min Fei Bao himself held 0.4861%. Other institutional holders include UBS Securities LLC and Morgan Stanley Capital Services LLC. The company has not raised additional funding since its IPO. For more details, you can check the information about United Time Technology ownership.

Key Ownership Details

The IPO in 2021 marked a significant shift in Company ownership.

• The majority of shares were held by Mr. Minfei Bao before the IPO.
• Post-IPO, a mix of institutional and individual investors hold shares.
• Capital Vista Ltd. is a major shareholder.
• Insiders still hold a significant portion of the company.

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The current board of directors for Shenzhen United Time Technology (UTime Limited, WTO) includes Mr. Hengcong Qiu as Chairman and Chief Executive Officer. Other board members are Mr. Minfei Bao, Ms. Xiaoqian Jia, Ms. Na Cai, and Mr. Hailin Xie. Mr. Hengcong Qiu also serves as the Interim Chief Financial Officer since October 25, 2024. Mr. Minfei Bao, a founder of UTime SZ, holds a director position. Independent directors include Ms. Xiaoqian Jia, Ms. Na Cai, and Mr. Hailin Xie. Understanding the composition of the board provides insights into the United Time Technology ownership structure and corporate governance.

The average tenure of the board members is approximately 2.1 years, indicating a relatively new board. This information is crucial for investors and stakeholders interested in Company ownership and the strategic direction of the Chinese tech company. The presence of independent directors suggests a commitment to balanced governance, which is essential for transparency and accountability. Further details on the board's activities and decisions can be found through the company's filings and announcements.

The company operates under a Variable Interest Entity (VIE) structure in China. This structure involves contractual arrangements between the Cayman Islands holding company (UTime Limited) and the Chinese operating entity (UTime SZ). This structure allows UTime Limited to consolidate the financial results of the VIE, but it does not hold direct equity interest in the VIE or its subsidiaries. This arrangement inherently vests significant control with the shareholders of the VIE, primarily Mr. Minfei Bao, through these contractual agreements. For more information about the company's business model, you can read the Revenue Streams & Business Model of Shenzhen United Time Technology Co.

Key Takeaways on Ownership

Understanding the board of directors is crucial for assessing United Time Technology company owner details and the company's governance.

• Mr. Hengcong Qiu is the Chairman and CEO.
• Mr. Minfei Bao, a founder, holds a director position, indicating significant influence.
• The company operates under a VIE structure in China.
• Independent directors ensure a degree of oversight.

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Over the past few years, Shenzhen United Time Technology has seen significant shifts in its ownership landscape. The company, formerly known as UTime Limited, changed its ticker symbol from 'UTME' to 'WTO' on September 5, 2023. This move reflects a strategic pivot, including a focus on AI in health and smart EV chargers. These changes may attract different investors or strategic partners.

Further impacting the ownership structure, the company executed a 1-for-25 reverse share split on September 9, 2024, followed by a 1-for-10 reverse share split on March 26, 2025. Additionally, on September 13, 2024, UTime Limited announced a $5 million registered direct offering. These financial maneuvers and strategic shifts could influence the ownership stake of existing shareholders and attract new investment.

A key development for United Time Technology ownership is its diversification beyond mobile phones. In August 2024, the company signed a non-disclosure agreement to acquire Bowen Therapeutics Inc., a monkeypox vaccine maker. Also, in September 2023, UTime Limited partnered to supply smart EV chargers to Shenzhen Jiuzi XinNeng Holding Group Co., Ltd., with a deal valued at approximately $68.5 million from 2024 to 2027. These moves may lead to changes in the Company ownership as the company seeks new investors aligned with these emerging business areas. The company's 2023 revenue was $172.16 million, a decrease of 12.86% from the previous year, with losses of $60.88 million.

Key Ownership Changes

The company has undergone significant strategic shifts, including a ticker symbol change and reverse share splits, which may alter the ownership structure.

Strategic Diversification

UTime's expansion into new sectors, such as vaccine production and EV chargers, could attract different investors and influence the ownership profile of this Chinese tech company.

Financial Performance

The company's 2023 financial results, including a revenue of $172.16 million and losses of $60.88 million, provide context for potential ownership changes.

Future Outlook

With its strategic moves and financial adjustments, the company is poised for potential shifts in its ownership structure, attracting new investors interested in the Shenzhen company.

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