2023 Q3 Form 20-F Financial Statement

#000121390023064327 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q1 2023
Revenue $83.93M $200.5M $29.18M
YoY Change -34.33% -27.21% -32.75%
Cost Of Revenue $79.98M $170.5M $24.81M
YoY Change -30.54% -34.86% -39.82%
Gross Profit $3.946M $30.07M $4.375M
YoY Change -68.78% 118.1% 101.52%
Gross Profit Margin 4.7% 14.99% 14.99%
Selling, General & Admin $19.20M $117.8M $17.14M
YoY Change -37.07% 143.58% 142.08%
% of Gross Profit 486.67% 391.83% 391.86%
Research & Development 16.00M cnies
YoY Change 13.48%
% of Gross Profit 365.71%
Depreciation & Amortization $3.237M $3.192M 4.600M cnies
YoY Change 24.4% 55.18% 39.39%
% of Gross Profit 82.03% 10.62% 105.14%
Operating Expenses $18.67M $117.3M $16.61M
YoY Change -23.06% 157.09% 118.33%
Operating Profit -$14.72M -$87.22M -$12.23M
YoY Change 26.66% 173.97% 125.04%
Interest Expense $2.964M -$2.970M $895.0K
YoY Change -172.74% -58.7% 16.54%
% of Operating Profit
Other Income/Expense, Net 4.533M cnies
YoY Change
Pretax Income -$11.76M -$90.19M -$13.13M
YoY Change -25.1% 129.06% 111.61%
Income Tax -$85.00K -$171.0K -$25.00K
% Of Pretax Income
Net Earnings -$10.49M -$87.62M -$12.75M
YoY Change -26.49% 125.62% 108.42%
Net Earnings / Revenue -12.49% -43.69% -43.69%
Basic Earnings Per Share -$7.80
Diluted Earnings Per Share -$0.77 -$7.80 -$7.80
COMMON SHARES
Basic Shares Outstanding 13.57M shares 11.23M shares
Diluted Shares Outstanding 11.23M shares

Balance Sheet

Concept 2023 Q3 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.95M $71.93M $71.93M
YoY Change 7.34% 7.86% 7.86%
Cash & Equivalents $79.95M $10.54M $71.93M
Short-Term Investments
Other Short-Term Assets $75.90M $34.50M $65.33M
YoY Change -10.04% 6899900.0% 58.87%
Inventory $13.61M $2.353M $16.17M
Prepaid Expenses
Receivables $40.84M $7.612M $52.31M
Other Receivables $26.91M $31.26M $31.26M
Total Short-Term Assets $237.2M $34.49M $237.0M
YoY Change 11.69% 13.49% 22.85%
LONG-TERM ASSETS
Property, Plant & Equipment $70.01M $8.939M $74.46M
YoY Change -15.49% 48.29% 36.4%
Goodwill
YoY Change
Intangibles $244.0K
YoY Change -40.2%
Long-Term Investments $0.00
YoY Change
Other Assets $222.0K $0.00
YoY Change -57.79% -100.0%
Total Long-Term Assets $71.30M $11.08M $76.14M
YoY Change -16.63% 21.85% 31.9%
TOTAL ASSETS
Total Short-Term Assets $237.2M $34.49M $237.0M
Total Long-Term Assets $71.30M $11.08M $76.14M
Total Assets $308.5M $45.57M $313.1M
YoY Change 3.56% 15.42% 24.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.8M $18.44M $126.7M
YoY Change -38.03% 57.04% 69.98%
Accrued Expenses $18.61M $22.88M $22.88M
YoY Change 294.84% 51.85% 51.85%
Deferred Revenue
YoY Change
Short-Term Debt $47.43M $7.849M $53.94M
YoY Change 7.64% 39.27% 50.74%
Long-Term Debt Due $1.080M $157.0K $1.080M
YoY Change 0.0% 24.6% 35.0%
Total Short-Term Liabilities $255.6M $35.75M $245.7M
YoY Change 16.53% 39.13% 50.59%
LONG-TERM LIABILITIES
Long-Term Debt $6.330M 1.080M cnies $6.870M
YoY Change -14.57% 35.0% -14.34%
Other Long-Term Liabilities $17.34M 6.440M cnies $19.57M
YoY Change -5.61% -55.74% 34.53%
Total Long-Term Liabilities $23.67M $3.892M $26.44M
YoY Change -8.19% 7.28% 17.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $255.6M $35.75M $245.7M
Total Long-Term Liabilities $23.67M $3.892M $26.44M
Total Liabilities $274.6M $39.64M $269.1M
YoY Change 12.8% 35.19% 44.92%
SHAREHOLDERS EQUITY
Retained Earnings -$25.60M
YoY Change -71.0%
Common Stock $1.000K
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.95M $6.414M $44.09M
YoY Change
Total Liabilities & Shareholders Equity $308.5M $45.57M $313.1M
YoY Change 3.56% 15.42% 24.94%

Cashflow Statement

Concept 2023 Q3 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$10.49M -$87.62M -$12.75M
YoY Change -26.49% 125.62% 108.42%
Depreciation, Depletion And Amortization $3.237M $3.192M 4.600M cnies
YoY Change 24.4% 55.18% 39.39%
Cash From Operating Activities -$13.08M -$10.45M -$2.203M
YoY Change 179.19% 713.39% -32.96%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $696.0K $377.0K
YoY Change -100.0% -10.19% -59.15%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 -$696.0K -$422.0K
YoY Change -100.0% -186.67% -54.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net 870.0K cnies
YoY Change
Cash From Financing Activities 19.58M 11.34M $2.662M
YoY Change 181.61% -4461.92% -80.55%
NET CHANGE
Cash From Operating Activities -13.08M -10.45M -$2.203M
Cash From Investing Activities 0.000 -696.0K -$422.0K
Cash From Financing Activities 19.58M 11.34M $2.662M
Net Change In Cash 6.500M 193.0K $763.0K
YoY Change 10056.25% -126.01% -91.61%
FREE CASH FLOW
Cash From Operating Activities -$13.08M -$10.45M -$2.203M
Capital Expenditures $0.00 $696.0K $377.0K
Free Cash Flow -$13.08M -$11.15M -$2.580M
YoY Change 89.88% 441.17% -38.7%

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ShareBasedCompensation
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CY2023 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2021 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
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CY2023 us-gaap Increase Decrease In Inventories
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CY2023 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2021 us-gaap Increase Decrease In Due To Related Parties
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CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
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CY2023 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
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CY2023 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
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CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2023 utme Increase Decrease In Government Grants
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CY2023 utme Increase Decrease In Government Grants
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CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
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CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Short Term Debt
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CY2023 us-gaap Proceeds From Other Debt
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CY2022 us-gaap Repayments Of Related Party Debt
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CY2023 us-gaap Repayments Of Related Party Debt
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CY2023 us-gaap Repayments Of Related Party Debt
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CY2022 us-gaap Repayments Of Short Term Debt
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CY2023 us-gaap Repayments Of Short Term Debt
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CY2023 us-gaap Repayments Of Short Term Debt
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CY2023 us-gaap Repayments Of Other Long Term Debt
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
725000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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8423000 cny
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57715000 cny
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5242000 cny
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
763000 usd
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1054000 cny
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67192000 cny
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9778000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9477000 cny
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67192000 cny
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72434000 cny
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10541000 usd
CY2021 us-gaap Income Taxes Paid Net
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364000 cny
CY2021 us-gaap Interest Paid Net
InterestPaidNet
2461000 cny
CY2022 us-gaap Interest Paid Net
InterestPaidNet
4707000 cny
CY2023 us-gaap Interest Paid Net
InterestPaidNet
6097000 cny
CY2023 us-gaap Interest Paid Net
InterestPaidNet
887000 usd
CY2021 utme Reconciliation Restricted Cash
ReconciliationRestrictedCash
500000 cny
CY2022 utme Reconciliation Restricted Cash
ReconciliationRestrictedCash
500000 cny
CY2023 utme Reconciliation Restricted Cash
ReconciliationRestrictedCash
500000 cny
CY2023 utme Reconciliation Restricted Cash
ReconciliationRestrictedCash
73000 usd
CY2021 utme Reconciliation Cash And Cash Equivalents
ReconciliationCashAndCashEquivalents
8977000 cny
CY2022 utme Reconciliation Cash And Cash Equivalents
ReconciliationCashAndCashEquivalents
66692000 cny
CY2023 utme Reconciliation Cash And Cash Equivalents
ReconciliationCashAndCashEquivalents
71934000 cny
CY2023 utme Reconciliation Cash And Cash Equivalents
ReconciliationCashAndCashEquivalents
10468000 usd
CY2021 utme Reconciliation Cash Cash Equivalents And Restricted Cash
ReconciliationCashCashEquivalentsAndRestrictedCash
9477000 cny
CY2022 utme Reconciliation Cash Cash Equivalents And Restricted Cash
ReconciliationCashCashEquivalentsAndRestrictedCash
67192000 cny
CY2023 utme Reconciliation Cash Cash Equivalents And Restricted Cash
ReconciliationCashCashEquivalentsAndRestrictedCash
72434000 cny
CY2023 utme Reconciliation Cash Cash Equivalents And Restricted Cash
ReconciliationCashCashEquivalentsAndRestrictedCash
10541000 usd
CY2018Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
9600000 usd
CY2023 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
17200000 cny
CY2023 utme Other Comprehensive Income
OtherComprehensiveIncome
1000000 cny
CY2023Q1 us-gaap Other Additional Capital
OtherAdditionalCapital
16200000 cny
CY2018Q1 us-gaap Shares Issued
SharesIssued
100000 shares
CY2019Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1 shares
CY2019Q2 us-gaap Business Combination Control Obtained Description
BusinessCombinationControlObtainedDescription
On April 4, 2019, Bridgetime approved a board resolution that forfeited 15,000 shares held by Mr. Yunchuan Li, cancelled those shares accordingly and amended Bridgetime’s memorandum of association that changed authorized shares from 150,000 to 135,000 at a par value of US$1.00 which was accounted as a cancellation of non-controlling interest in the consolidated statements of shareholders’ equity.After this, Mr. WuKai Song owned 100% of equity interest of Bridgetime, which are controlled by Mr. Bao through an entrust agreement between Mr. Bao and Mr. Wukai Song. On May 23, 2019, Bridgetime approved a board resolution that transferred 135,000 ordinary shares owning by Mr. Wukai Song to UTime Limited. Since inception, Bridgetime has only made nominal investments into Do Mobile and no substantial business operations have occurred.
CY2019Q2 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
15000 shares
CY2020Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
7620000 shares
CY2020Q2 utme Ordinary Shares
OrdinaryShares
239721 shares
CY2021Q2 utme Ordinary Shares Repurchased Description
OrdinarySharesRepurchasedDescription
Before and after the repurchase of ordinary shares, Mr. Bao, through Grandsky Phoenix Limited, and Mr. He, through HMercury Capital Limited, own 96.95% and 3.05% of our issued and outstanding ordinary shares, respectively. The Company considers this repurchase of ordinary shares was part of the Company’s recapitalization to result in 4,517,793 ordinary shares issued and outstanding prior to completion of its IPO. The Company believes it is appropriate to reflect these nominal share repurchases to result in 4,517,793 ordinary shares being issued and outstanding or reduction of 63.5% of total ordinary shares being issued and outstanding after the repurchase of ordinary shares similar to 0.365-for-1 reverse stock split.
CY2022 us-gaap Management And Service Fees Rate
ManagementAndServiceFeesRate
1 pure
CY2019Q3 utme Equity Interests Percentage
EquityInterestsPercentage
1 pure
CY2021 utme Revenue
Revenue
240742000 cny
CY2022 utme Revenue
Revenue
273979000 cny
CY2023 utme Revenue
Revenue
200450000 cny
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10722000 cny
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-29643000 cny
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19221000 cny
CY2021 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-3020000 cny
CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-19806000 cny
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-15269000 cny
CY2021 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2201000 cny
CY2022 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-5830000 cny
CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2900000 cny
CY2021 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
14000000 cny
CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
17629000 cny
CY2023 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
18295000 cny
CY2021Q4 utme Equity Interest Rate
EquityInterestRate
0.51 pure
CY2022Q1 utme Equity Interest Rate
EquityInterestRate
0.85 pure
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
237000000 cny
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
34500000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
245700000 cny
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
35800000 usd
CY2023Q1 utme Working Capital Deficit
WorkingCapitalDeficit
8700000 cny
CY2023Q1 utme Working Capital Deficit
WorkingCapitalDeficit
1300000 usd
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
192900000 cny
CY2022Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
163100000 cny
CY2022Q1 utme Working Capital Deficit
WorkingCapitalDeficit
29800000 cny
CY2023Q1 utme Incurred Net Loss
IncurredNetLoss
87600000 cny
CY2023Q1 utme Incurred Net Loss
IncurredNetLoss
12700000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Use of estimates</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of the consolidated financial statements in conformity with US GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Management evaluates these estimates and assumptions on a regular basis. Significant accounting estimates reflected in the Company’s consolidated financial statements include but are not limited to estimates and judgments applied in the allowance for receivables, write down of other assets, estimated useful lives of property and equipment, impairment on inventory, sales return, product warranties, the valuation allowance for deferred tax assets and income tax and provision for employee benefits. Actual results could differ from those estimates and judgments.</p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><i><span style="text-decoration:underline">Concentration of credit risk and major customers</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, accounts receivable and other current assets. The maximum exposure of such assets to credit risk is their carrying amounts as at the balance sheet dates. As of March 31, 2022 and 2023, the aggregate amounts of cash and cash equivalents, and restricted cash are RMB67.2 million and RMB72.4 million respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 36pt">To limit exposure to credit risk relating to deposits, the Company primarily place cash deposits with large financial institutions in PRC. The Company conducts credit evaluations of its customers, and generally does not require collateral or other security from them. The Company establishes an accounting policy for allowance for doubtful accounts on the individual customer’s financial condition, credit history, and the current economic conditions. As of March 31, 2022 and 2023, the Company recorded RMB0.1 million of allowances for accounts receivable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Major customers and accounts receivable — <span>During the year ended March 31, 2021, the Company had two customers that accounted over 10% of revenues, and revenue from these customers amounted to RMB102.1 million and RMB44.7 million, respectively, relate to Original Equipment Manufacturer (“OEM”)/Original Design Manufacturer (“ODM”) services segment and sales of face mask. </span>During the year ended March 31, 2022, the Company had two customers that accounted over 10% of revenues, and revenue from the customers amounted to RMB116.4 million and RMB54.6 million, respectively, relate to OEM/ ODM services segment. The Company had three customers that accounted over 10% of total accounts receivable at March 31, 2022, amounting to RMB8.3 million, RMB6.3 million and RMB4.3 million, respectively. During the year ended March 31, 2023, the Company had three customers that accounted over 10% of revenues, and revenue from the customers amounted to RMB44.4 million, RMB25.9 million and RMB25.8 million, respectively, relate to OEM/ ODM services segment. The Company had four customers that accounted over 10% of total accounts receivable at March 31, 2023, amounting to RMB14.0 million, RMB11.9 million, RMB9.4 million and RMB8.6 million, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Major suppliers — <span>During the year ended March 31, 2021, the Company had no supplier accounted over 10% of total purchases and processing fees.</span> During the year ended March 31, 2022, the Company had one supplier accounted over 10% of total purchases and processing fees from the supplier amounted to RMB39.5 million. During the year ended March 31, 2023, the Company had no supplier accounted over 10% of total purchases.</p>
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
67200000 cny
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
72400000 cny
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000 cny
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000 cny
CY2022 utme Revenue Percentage
RevenuePercentage
0.10 pure
CY2021 utme Purchase Percentage
PurchasePercentage
0.10 pure
CY2023 utme Office Real Estate
OfficeRealEstate
P48Y
CY2023Q1 us-gaap Deferred Revenue And Credits
DeferredRevenueAndCredits
8700000 cny
CY2021 us-gaap Other Income
OtherIncome
1300000 cny
CY2022 us-gaap Other Income
OtherIncome
2900000 cny
CY2023 us-gaap Other Income
OtherIncome
600000 cny
CY2021 utme Revenues Oemodm
RevenuesOEMODM
-195995000 cny
CY2022 utme Revenues Oemodm
RevenuesOEMODM
-273979000 cny
CY2023 utme Revenues Oemodm
RevenuesOEMODM
-200450000 cny
CY2021 utme Inhouse Brand
InhouseBrand
6157000 cny
CY2022 utme Inhouse Brand
InhouseBrand
1529000 cny
CY2023 utme Inhouse Brand
InhouseBrand
98000 cny
CY2021 utme Fack Mask
FackMask
44747000 cny
CY2021 utme Total Net Sale
TotalNetSale
246899000 cny
CY2022 utme Total Net Sale
TotalNetSale
275508000 cny
CY2023 utme Total Net Sale
TotalNetSale
200548000 cny
CY2023 utme Value Added Tax Percentage
ValueAddedTaxPercentage
In the PRC, value added tax (the “VAT”) of 17% (before May 1, 2018), 16% (from May 1, 2018 to April 1, 2019) and 13% (after April 1, 2019 until now) on invoice amount is collected in respect of the sales of goods on behalf of tax authorities. The Company reports revenue net of VAT. VIE and its subsidiary in China that are VAT general tax payers are allowed to offset qualified VAT paid against their output VAT liabilities.
CY2021 us-gaap Advertising Expense
AdvertisingExpense
100000 cny
CY2022 us-gaap Advertising Expense
AdvertisingExpense
100000 usd
CY2021 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1200000 cny
CY2022 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1400000 cny
CY2023 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1600000 cny
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7200000 cny
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14100000 cny
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16000000 cny
CY2021 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
400000 cny
CY2022 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
1100000 cny
CY2023 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
1300000 cny
CY2023 utme Registered Capital Percentage
RegisteredCapitalPercentage
0.50 pure
CY2023 utme Reserves And Surplus
ReservesAndSurplus
0.10 pure
CY2021Q1 utme Statutory Reserve Funds
StatutoryReserveFunds
200000 cny
CY2021 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-16627000 cny
CY2022 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-38833000 cny
CY2023 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-87616000 cny
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4517793 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8164771 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11229985 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.68
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.76
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.8
CY2023 us-gaap Revenue Recognition Customer Acquisitions
RevenueRecognitionCustomerAcquisitions
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Acquisitions</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 36pt">The Company accounts for acquisitions of an asset or group of similar identifiable assets that do not meet the definition of a business as an asset acquisition using the cost accumulated method, whereby the cost of the acquisition, including certain transaction costs, is allocated to the assets acquired on the basis of their relative fair values. No goodwill is recognized in an asset acquisition. Intangible assets acquired in an asset acquisition for use in research and development activities which have no alternative future use are expensed as in-process research and development on the acquisition date. Intangible assets acquired for use in research and development activities which have an alternative future use are capitalized as in-process research and development. Future costs to develop these assets are recorded to research and development expense as they are incurred.</p>
CY2022Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
22543000 cny
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
52444000 cny
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
126000 cny
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
136000 cny
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
22417000 cny
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
52308000 cny
CY2020Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
838000 cny
CY2021Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
878000 cny
CY2022Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
126000 cny
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
50000 cny
CY2022 utme Allowance For Doubtful Other Receivables Reversal
AllowanceForDoubtfulOtherReceivablesReversal
748000 cny
CY2021 utme Foreign Currency Translation Difference
ForeignCurrencyTranslationDifference
-10000 cny
CY2022 utme Foreign Currency Translation Difference
ForeignCurrencyTranslationDifference
-4000 cny
CY2023 utme Foreign Currency Translation Difference
ForeignCurrencyTranslationDifference
10000 cny
CY2021Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
878000 cny
CY2022Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
126000 cny
CY2023Q1 us-gaap Allowance For Doubtful Other Receivables Current
AllowanceForDoubtfulOtherReceivablesCurrent
136000 cny
CY2022Q1 utme Allowance For Doubtful Account Receivable
AllowanceForDoubtfulAccountReceivable
100000 cny
CY2023Q1 utme Allowance For Doubtful Account Receivable
AllowanceForDoubtfulAccountReceivable
100000 cny
CY2022Q1 us-gaap Supplies
Supplies
40620000 cny
CY2023Q1 us-gaap Supplies
Supplies
64827000 cny
CY2022Q1 us-gaap Prepaid Taxes
PrepaidTaxes
568000 cny
CY2023Q1 us-gaap Prepaid Taxes
PrepaidTaxes
412000 cny
CY2022Q1 utme Receivables From Supply Chain Service Providers
ReceivablesFromSupplyChainServiceProviders
4829000 cny
CY2023Q1 utme Receivables From Supply Chain Service Providers
ReceivablesFromSupplyChainServiceProviders
7648000 cny
CY2022Q1 utme Prepaid Expenses Expected Return Assets
PrepaidExpensesExpectedReturnAssets
1000 cny
CY2023Q1 utme Prepaid Expenses Expected Return Assets
PrepaidExpensesExpectedReturnAssets
1000 cny
CY2022Q1 utme Prepaid Expenses Other Receivables
PrepaidExpensesOtherReceivables
21460000 cny
CY2023Q1 utme Prepaid Expenses Other Receivables
PrepaidExpensesOtherReceivables
24282000 cny
CY2022Q1 utme Prepaid Expenses Allowance For Doubtful Accounts
PrepaidExpensesAllowanceForDoubtfulAccounts
-1663000 cny
CY2023Q1 utme Prepaid Expenses Allowance For Doubtful Accounts
PrepaidExpensesAllowanceForDoubtfulAccounts
-1662000 cny
CY2022Q1 utme Prepaid Expenses And Others Current Assets Net
PrepaidExpensesAndOthersCurrentAssetsNet
65815000 cny
CY2023Q1 utme Prepaid Expenses And Others Current Assets Net
PrepaidExpensesAndOthersCurrentAssetsNet
95508000 cny
CY2022 utme Expire Date
ExpireDate
2022-03-31
CY2022Q1 us-gaap Other Receivables
OtherReceivables
5000000 cny
CY2023Q1 us-gaap Other Receivables
OtherReceivables
2000000 cny
CY2020Q1 utme Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
4006000 cny
CY2021Q1 utme Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
674000 cny
CY2022Q1 utme Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
1663000 cny
CY2021 utme Reversal Additions Debt For The Year
ReversalAdditionsDebtForTheYear
-886000 cny
CY2022 utme Reversal Additions Debt For The Year
ReversalAdditionsDebtForTheYear
3406000 cny
CY2021 utme Debt Written Off For The Year
DebtWrittenOffForTheYear
2446000 cny
CY2022 utme Debt Written Off For The Year
DebtWrittenOffForTheYear
2359000 cny
CY2022 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-58000 cny
CY2023 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-1000 cny
CY2021Q1 utme Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
674000 cny
CY2022Q1 utme Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
1663000 cny
CY2023Q1 utme Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
1662000 cny
CY2023Q1 utme Allowance For Doubtful Accounts On Advance To Suppliers
AllowanceForDoubtfulAccountsOnAdvanceToSuppliers
1700000 cny
CY2022Q1 utme Allowance For Doubtful Accounts On Advance To Suppliers
AllowanceForDoubtfulAccountsOnAdvanceToSuppliers
1700000 cny
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
32004000 cny
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
12294000 cny
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1326000 cny
CY2023Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2972000 cny
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
13533000 cny
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
11217000 cny
CY2022Q1 us-gaap Inventory Gross
InventoryGross
46863000 cny
CY2023Q1 us-gaap Inventory Gross
InventoryGross
26483000 cny
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
10792000 cny
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
10314000 cny
CY2022 utme Total Inventory
TotalInventory
36071000 cny
CY2023 utme Total Inventory
TotalInventory
16169000 cny
CY2020Q1 utme Inventory Reserve
InventoryReserve
5962000 cny
CY2021Q1 utme Inventory Reserve
InventoryReserve
13393000 cny
CY2022Q1 utme Inventory Reserve
InventoryReserve
10792000 cny
CY2021Q1 utme Inventory Reserve Additional Charges
InventoryReserveAdditionalCharges
7589000 cny
CY2022Q1 utme Inventory Reserve Additional Charges
InventoryReserveAdditionalCharges
-2467000 cny
CY2023Q1 utme Inventory Reserve Additional Charges
InventoryReserveAdditionalCharges
407000 cny
CY2021 utme Inventory Reserve Foreign Currency Translation Difference
InventoryReserveForeignCurrencyTranslationDifference
-158000 cny
CY2022 utme Inventory Reserve Foreign Currency Translation Difference
InventoryReserveForeignCurrencyTranslationDifference
-134000 cny
CY2023 utme Inventory Reserve Foreign Currency Translation Difference
InventoryReserveForeignCurrencyTranslationDifference
-885000 cny
CY2021Q1 utme Inventory Reserve
InventoryReserve
13393000 cny
CY2022Q1 utme Inventory Reserve
InventoryReserve
10792000 cny
CY2023Q1 utme Inventory Reserve
InventoryReserve
10314000 cny
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
55808000 cny
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
82278000 cny
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17538000 cny
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20849000 cny
CY2022Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
38270000 cny
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
61429000 cny
CY2022 us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
40000.00 cny
CY2023 us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
20000.00 cny
CY2021 us-gaap Depreciation
Depreciation
3200000 usd
CY2022 us-gaap Depreciation
Depreciation
3300000 cny
CY2023 us-gaap Depreciation
Depreciation
4600000 cny
CY2022Q1 us-gaap Sale Leaseback Transaction Historical Cost
SaleLeasebackTransactionHistoricalCost
29578000 cny
CY2023Q1 us-gaap Sale Leaseback Transaction Historical Cost
SaleLeasebackTransactionHistoricalCost
29578000 cny
CY2022Q1 us-gaap Sale Leaseback Transaction Accumulated Depreciation
SaleLeasebackTransactionAccumulatedDepreciation
9436000 cny
CY2023Q1 us-gaap Sale Leaseback Transaction Accumulated Depreciation
SaleLeasebackTransactionAccumulatedDepreciation
12094000 cny
CY2022Q1 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
20142000 cny
CY2023Q1 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
17484000 cny
CY2023 utme Schedule Of Future Minimum Rental Payments For Operating Leases Table Text Blockj
ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlockj
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify">Year ending March 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify">2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">804</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">2025</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">201</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,005</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2023Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within One Year
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinOneYear
804000 cny
CY2023Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions Within Two Years
FutureMinimumSubleaseRentalsSaleLeasebackTransactionsWithinTwoYears
201000 cny
CY2023Q1 us-gaap Future Minimum Sublease Rentals Sale Leaseback Transactions
FutureMinimumSubleaseRentalsSaleLeasebackTransactions
1005000 cny
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2400000 cny
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2900000 cny
CY2023 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3100000 cny
CY2021 utme Depreciation Charges
DepreciationCharges
2300000 cny
CY2023 utme Depreciation Charges
DepreciationCharges
2900000 cny
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1016000 cny
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
2265000 cny
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
3289000 cny
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1163000 cny
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
973000 cny
CY2021 us-gaap Lease Cost
LeaseCost
2179000 cny
CY2022 us-gaap Lease Cost
LeaseCost
3238000 cny
CY2023 us-gaap Lease Cost
LeaseCost
3289000 cny
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1325000 cny
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1249000 cny
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
4514000 cny
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4575000 cny
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
666000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4575000 cny
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
666000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
7356000 cny
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1071000 usd
CY2023Q1 utme Lessee Operating Lease Liability Payments Due Total
LesseeOperatingLeaseLiabilityPaymentsDueTotal
16506000 cny
CY2023Q1 utme Lessee Operating Lease Liability Payments Due Total
LesseeOperatingLeaseLiabilityPaymentsDueTotal
2403000 usd
CY2023Q1 utme Operating Less Interest
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1957000 cny
CY2023Q1 utme Operating Less Interest
OperatingLessInterest
285000 usd
CY2023Q1 us-gaap Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions
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14549000 cny
CY2023Q1 us-gaap Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions
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2118000 usd
CY2023Q1 utme Longterm Lease Liabilities Record In Noncurrent Liabilities
LongtermLeaseLiabilitiesRecordInNoncurrentLiabilities
-3673000 cny
CY2023Q1 utme Longterm Lease Liabilities Record In Noncurrent Liabilities
LongtermLeaseLiabilitiesRecordInNoncurrentLiabilities
-535000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10876000 cny
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1583000 usd
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M21D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M9D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0703 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2018Q1 us-gaap Equity Method Investment Aggregate Cost
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1400000 cny
CY2018Q1 utme Percentage Of Equity Interest
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0.35 pure
CY2021 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
800000 cny
CY2022Q1 us-gaap Deferred Finance Costs Gross
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1425000 cny
CY2023Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
1425000 cny
CY2022Q1 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
1425000 cny
CY2023Q1 us-gaap Accumulated Amortization Of Other Deferred Costs
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1425000 cny
CY2022 utme Prepayment For Property And Equipment And Intangible Asset
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541000 cny
CY2022Q1 us-gaap Other Assets Noncurrent
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541000 cny
CY2022Q1 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
35780000 cny
CY2023Q1 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
53935000 cny
CY2022Q1 utme Longterm Borrowings
LongtermBorrowings
8820000 cny
CY2023Q1 utme Longterm Borrowings
LongtermBorrowings
7950000 cny
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
800000 cny
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1080000 cny
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8020000 cny
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
6870000 cny
CY2021Q4 utme Working Capitals
WorkingCapitals
22000000 cny
CY2021Q4 us-gaap Debt Instrument Interest Rate Basis For Effective Rate
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5.5%
CY2023 us-gaap Line Of Credit Facility Periodic Payment
LineOfCreditFacilityPeriodicPayment
1000000 cny
CY2022Q4 us-gaap Debt Instrument Interest Rate Basis For Effective Rate
DebtInstrumentInterestRateBasisForEffectiveRate
3.75%
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
6440000 cny
CY2022Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5530000 cny
CY2023Q1 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
1820000 cny
CY2022Q1 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
1.58 cny
CY2022Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
16607000 cny
CY2023Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
17087000 cny
CY2022Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
10220000 cny
CY2023Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
11910000 cny
CY2022Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1484000 cny
CY2023Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
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7292000 cny
CY2022Q1 utme Refund Liabilities
RefundLiabilities
1000 cny
CY2023Q1 utme Refund Liabilities
RefundLiabilities
1000 cny
CY2022Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
50000 cny
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
50000 cny
CY2022Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
15786000 cny
CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
18432000 cny
CY2022Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
44148000 cny
CY2023Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
54772000 cny
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
3703000 cny
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2316000 cny
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3179000 cny
CY2021 us-gaap Provision For Other Credit Losses
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836000 cny
CY2022 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
-3406000 cny
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
348000 cny
CY2021 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
IncomeTaxExpenseBenefitContinuingOperationsGovernmentGrants
-1289000 cny
CY2022 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
IncomeTaxExpenseBenefitContinuingOperationsGovernmentGrants
-2851000 cny
CY2023 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
IncomeTaxExpenseBenefitContinuingOperationsGovernmentGrants
-594000 cny
CY2021 utme Loss On Equity Method Investments
LossOnEquityMethodInvestments
-833000 cny
CY2021 utme Others
Others
-464000 cny
CY2022 utme Others
Others
-109000 cny
CY2023 utme Others
Others
-79000 cny
CY2021 utme Other Income Expense Total
OtherIncomeExpenseTotal
2875000 cny
CY2022 utme Other Income Expense Total
OtherIncomeExpenseTotal
3328000 cny
CY2023 utme Other Income Expense Total
OtherIncomeExpenseTotal
-3694000 cny
CY2021 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
17000000 cny
CY2022 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
39400000 cny
CY2023 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
IncomeLossIncludingPortionAttributableToNoncontrollingInterest
90200000 cny
CY2023 utme Enterprise Income Tax Description
EnterpriseIncomeTaxDescription
The subsidiary, VIE and subsidiary of VIE in the PRC are subject to a uniform income tax rate of 25% for the years presented. UTime SZ is regarded as a Certified High and New Technology Enterprise (“HNTE”) and entitled to a favorable statutory tax rate of 15%. Preferential tax treatment of UTime SZ as HNTE from November 2, 2015 to December 23, 2024 has been granted by the relevant tax authorities. UTime SZ is entitled to a preferential tax rate of 15% which is subject to review by State Taxation Administration every three years. As a result of these preferential tax treatments, the reduced tax rates applicable to UTime SZ for the years ended March 31, 2021, 2022 and 2023 are 15%. However, UTime SZ has not enjoyed the above-mentioned preferential tax treatments for the years ended March 31, 2021, 2022 and 2023 due to its loss position and as such there is no impact of these tax holidays on net loss per share.
CY2023 us-gaap Effective Income Tax Rate Reconciliation Deductions
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CY2023 utme Addition Tax Deduction Description
AdditionTaxDeductionDescription
The additional tax deduction has been increased from 50% of the qualified research and development expenses to 75%, effective from January 1, 2018 according to a tax incentives policy promulgated by the State Tax Bureau of the PRC in September 2018 (“Super Deduction”).
CY2023 utme Additional Tax Deduction Rate
AdditionalTaxDeductionRate
0.75 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
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1 pure
CY2022Q1 us-gaap Deferred Tax Liabilities
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466000 cny
CY2023Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
295000 cny
CY2022Q1 us-gaap Operating Loss Carryforwards
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116200000 cny
CY2023 utme Withholding Tax Rate
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0.10 pure
CY2023Q1 utme Equity Interests Percentage
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0.25 pure
CY2023 utme Subject Of Withholding Tax Rate
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0.10 pure
CY2021 us-gaap Current Income Tax Expense Benefit
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364000 cny
CY2022 us-gaap Deferred Other Tax Expense Benefit
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46000 cny
CY2023 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
171000 cny
CY2021 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
364000 cny
CY2022 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
46000 cny
CY2023 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
171000 cny
CY2022Q1 us-gaap Other Long Term Debt Current
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2590000 cny
CY2023Q1 us-gaap Other Long Term Debt Current
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450000 cny
CY2022Q1 us-gaap Inventory Adjustments
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3358000 cny
CY2023Q1 us-gaap Inventory Adjustments
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1889000 cny
CY2022Q1 us-gaap Deferred Revenue
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977000 cny
CY2023Q1 us-gaap Deferred Revenue
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2174000 cny
CY2022Q1 us-gaap Employee Related Liabilities Current
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1411000 cny
CY2023Q1 us-gaap Employee Related Liabilities Current
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3258000 cny
CY2022Q1 us-gaap Other Long Term Investments
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1075000 cny
CY2022Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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21678000 cny
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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27977000 cny
CY2022Q1 us-gaap Deferred Tax Assets Gross
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31089000 cny
CY2023Q1 us-gaap Deferred Tax Assets Gross
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35748000 cny
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
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27747000 cny
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
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32490000 cny
CY2022Q1 us-gaap Deferred Tax Assets Net
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3342000 cny
CY2023Q1 us-gaap Deferred Tax Assets Net
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3258000 cny
CY2022Q1 us-gaap Prepaid Expense And Other Assets
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1299000 cny
CY2023Q1 us-gaap Prepaid Expense And Other Assets
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3258000 cny
CY2022Q1 utme Unrealized Foreign Exchange Difference And Others
UnrealizedForeignExchangeDifferenceAndOthers
-2217000 cny
CY2022 us-gaap Amortization Of Intangible Assets
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292000 cny
CY2023 us-gaap Amortization Of Intangible Assets
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295000 cny
CY2022Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
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83200000 cny
CY2022Q1 us-gaap Tax Credit Carryforward Amount
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33900000 cny
CY2023Q1 us-gaap Operating Loss Carryforwards
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152 cny
CY2023Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
109.8 cny
CY2023Q1 us-gaap Tax Credit Carryforward Amount
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42.2 cny
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.25 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.25 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 utme Effect Of Preferential Tax Treatmentpercentage
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CY2022 utme Effect Of Preferential Tax Treatmentpercentage
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CY2023 utme Effect Of Preferential Tax Treatmentpercentage
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 utme Research And Development Superdeduction Percentage
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0.05 pure
CY2022 utme Research And Development Superdeduction Percentage
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0.04 pure
CY2023 utme Research And Development Superdeduction Percentage
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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0.02 pure
CY2021 utme Total Income Tax Provision Percentage
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0.02 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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0.50 pure
CY2023 us-gaap Repayments Of Unsecured Tax Exempt Debt
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100000 cny
CY2022 utme Due From Other Payble Related Parties
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1422000 cny
CY2023 utme Revenues By Geography Information
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200547000 cny
CY2023 utme Due From Other Payble Related Parties
DueFromOtherPaybleRelatedParties
584000 cny
CY2022Q1 utme Due To Related Parties Current And Non Current
DueToRelatedPartiesCurrentAndNonCurrent
4499000 cny
CY2023Q1 utme Due To Related Parties Current And Non Current
DueToRelatedPartiesCurrentAndNonCurrent
5500000 cny
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
140000000 shares
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
4517793 shares
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
4517793 shares
CY2021Q2 utme Public Price Per Share
PublicPricePerShare
4
CY2021Q2 utme Gross Proceeds
GrossProceeds
15000000 usd
CY2021Q2 utme Offering Fees And Expenses
OfferingFeesAndExpenses
13900000 usd
CY2021Q2 utme Offering Fees And Expenses
OfferingFeesAndExpenses
88200000 cny
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
140000000 shares
CY2023Q1 us-gaap Excess Stock Shares Issued
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8267793 shares
CY2023Q1 us-gaap Excess Stock Shares Outstanding
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8267793 shares
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5300000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
5300000 shares
CY2023 us-gaap Stock Granted During Period Value Sharebased Compensation
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9301500000 usd
CY2023 us-gaap Investment Company Distribution To Shareholders Per Share
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1.755
CY2021 utme Revenues By Geography Information
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246899000 cny
CY2022 utme Revenues By Geography Information
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275508000 cny
CY2021 utme Revenues By Geography Information
RevenuesByGeographyInformation
246899000 cny
CY2022 utme Revenues By Geography Information
RevenuesByGeographyInformation
275508000 cny
CY2023 utme Revenues By Geography Information
RevenuesByGeographyInformation
200547000 cny
CY2022Q1 us-gaap Assets Held For Sale Long Lived Fair Value Disclosure
AssetsHeldForSaleLongLivedFairValueDisclosure
54589000 cny
CY2023Q1 us-gaap Assets Held For Sale Long Lived Fair Value Disclosure
AssetsHeldForSaleLongLivedFairValueDisclosure
74460000 cny
CY2022Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
2600000 cny
CY2023Q1 us-gaap Other Intangible Assets Net
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1800000 cny
CY2022 us-gaap Cash Dividends Paid To Parent Company
CashDividendsPaidToParentCompany
71900000 cny
CY2023 us-gaap Cash Dividends Paid To Parent Company
CashDividendsPaidToParentCompany
72100000 cny
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12618000 cny
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
32350000 cny
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
18396000 cny
CY2021 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
4009000 cny
CY2022 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
6483000 cny
CY2023 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
69220000 cny
CY2021 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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-16627000 cny
CY2022 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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-38833000 cny
CY2023 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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-87616000 cny
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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-1868000 cny
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
377000 cny
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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-2445000 cny
CY2021 utme Comprehensive Income Net Of Taxes
ComprehensiveIncomeNetOfTaxes
14759000 cny
CY2022 utme Comprehensive Income Net Of Taxes
ComprehensiveIncomeNetOfTaxes
39210000 cny
CY2023 utme Comprehensive Income Net Of Taxes
ComprehensiveIncomeNetOfTaxes
85171000 cny
CY2021 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
16627000 cny
CY2022 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
38833000 cny
CY2023 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
87616000 cny
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
12618000 cny
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
32350000 cny
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
18396000 cny
CY2023 us-gaap Share Based Compensation
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63656000 cny
CY2021 us-gaap Increase Decrease In Prepaid Expense
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8424000 cny
CY2022 us-gaap Increase Decrease In Prepaid Expense
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1173000 cny
CY2021 us-gaap Increase Decrease In Other Accounts Payable
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12206000 cny
CY2022 us-gaap Increase Decrease In Other Accounts Payable
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8000000 cny
CY2023 us-gaap Increase Decrease In Other Accounts Payable
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1539000 cny
CY2021 us-gaap Increase Decrease In Due From Related Parties
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23000 cny
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
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131000 cny
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
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1269000 cny
CY2023 us-gaap Increase Decrease In Other Accrued Liabilities
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4026000 cny
CY2021 us-gaap Other Operating Activities Cash Flow Statement
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-119000 cny
CY2022 us-gaap Other Operating Activities Cash Flow Statement
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1613000 cny
CY2023 us-gaap Other Operating Activities Cash Flow Statement
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1000 cny
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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125000 cny
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 utme Cash And Cash Equivalents Period Increase Decreased
CashAndCashEquivalentsPeriodIncreaseDecreased
6000 cny
CY2022 utme Cash And Cash Equivalents Period Increase Decreased
CashAndCashEquivalentsPeriodIncreaseDecreased
-5000 cny
CY2023 utme Cash And Cash Equivalents Period Increase Decreased
CashAndCashEquivalentsPeriodIncreaseDecreased
1000 cny
CY2021Q1 us-gaap Cash
Cash
6000 cny
CY2022Q1 us-gaap Cash
Cash
1000 cny
CY2021Q1 us-gaap Cash
Cash
6000 cny
CY2022Q1 us-gaap Cash
Cash
1000 cny
CY2023Q1 us-gaap Cash
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2000 cny
CY2023 us-gaap Payments To Acquire Loans Receivable
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19000000 cny
CY2022Q1 us-gaap Equity Method Investments
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CY2023Q1 us-gaap Other Assets Noncurrent
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CY2022Q1 utme Government Grant
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CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2021 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2023 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Earnings Per Share Diluted
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CY2022 us-gaap Earnings Per Share Diluted
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