UTime Ltd issued 1,000,000 ordinary shares (1.0 million) to an advisor and Business development service provider under its 2026 Equity Incentive Plan. The arrangement matters to investors because the service provider’s compensation shifted from cash to equity, while the advisor received shares for advisory services.

Key Highlights

  • UTime Ltd allocated 600,000 Ordinary Shares to its Advisor for advisory services.
  • Keru Jiang’s business development compensation changed from cash to equity under a July supplemental agreement.
  • UTime issued a combined 1,000,000 Ordinary Shares to an Advisor and a business development Service Provider under its 2026 Equity Incentive Plan.

UTime Ltd (NASDAQ: FXHO), a telecommunications equipment company, issued 1,000,000 Ordinary Shares (1.0 million) to an Advisor and a business development Service Provider under its 2026 Equity Incentive Plan. The allocation gives 600,000 shares to the Advisor and 400,000 shares to the Service Provider. The equity replaces cash compensation for the Service Provider’s business development work.

Grant Agreements Allocate 1,000,000 Ordinary Shares

UTime entered into an Advisory Services Agreement under which the Advisor would receive 600,000 of the company’s Class A ordinary shares in exchange for services. The company also signed a Business Development Agreement with Keru Jiang on Apr 1, with cash compensation initially specified for the work. Grant Agreements with the Advisor and Service Provider were entered into on Sep 17. Under those agreements, UTime issued the combined 1,000,000 Ordinary Shares through its 2026 Equity Incentive Plan.

Equity Replaces Cash for Business Development Services

The stated change in Jiang’s compensation is from cash to UTime ordinary shares. The 400,000-share award follows the Jul 1 Supplemental Agreement, while the later Grant Agreement records the issuance under the 2026 Equity Incentive Plan. The Advisor’s 600,000-share award is tied to advisory services under its separate agreement.