UTime Limited - Legal Proceedings

UTime Limited has been served with legal proceedings in the High Court of Hong Kong by Giant Credit Limited. The plaintiff alleges that UTime Limited acted as guarantor for certain loan obligations and is seeking recovery of approximately HK$20.4 million, plus interest and costs. The company is reviewing the claims with legal advisors and intends to respond appropriately. UTime Limited believes it has defenses and reserves all rights, intending to vigorously defend its interests. The company cannot currently estimate the potential loss or outcome of the proceedings.