SECsense Logo

UTime Limited Form 6-K: Auditor Change Sparks Stakeholder Interest

$WTO
Form 6-K
Filed on: 2025-01-06
Source
UTime Limited Form 6-K: Auditor Change Sparks Stakeholder Interest

Here are the key points extracted from the financial report (Form 6-K) of UTime Limited:

  1. Company Overview:
  • Name: UTime Limited
  • Address: 7th Floor, Building 5A, Shenzhen Software Industry Base, Nanshan District, Shenzhen, 518061, People’s Republic of China.
  1. Filing Information:
  • Filing Type: Form 6-K, a report of a foreign private issuer.
  • Report Date: January 6, 2025, for the month of December 2024.
  1. Change of Auditor:
  • On December 23, 2024, UTime Limited dismissed its former independent auditor, Audit Alliance LLP.
  • The dismissal was effective immediately, and AssentSure PAC (PCAOB ID: 6783) was appointed as the new independent auditor, effective December 24, 2024, for the fiscal year ending March 31, 2025.
  1. Audit Alliance’s Previous Reports:
  • Audit Alliance’s reports for the fiscal years ended March 31, 2024, and 2023 did not contain any adverse opinions or qualifications.
  • There were no disagreements between UTime Limited and Audit Alliance regarding accounting principles, financial statement disclosures, or auditing procedures during the last two fiscal years.
  1. AssentSure Engagement:
  • Prior to the engagement of AssentSure, there were no consultations with the company regarding accounting principles or audit opinions.
  • AssentSure has not been involved in any disagreements or reportable events as defined by SEC regulations.
  1. Disclosure to Audit Alliance:
  • UTime Limited provided Audit Alliance with the disclosure regarding the auditor change and requested a letter confirming their agreement with the statements made.
  • This letter from Audit Alliance is included as Exhibit 16.1 to this Form 6-K.
  1. Signatory:
  • The report is signed by Hengcong Qiu, Chief Executive Officer of UTime Limited.

This report highlights a significant change in auditing firms, which could affect stakeholder confidence and perceptions about the company's financial oversight. The absence of disagreements with the previous auditor and the clean reports suggest a stable financial reporting environment prior to the change.