UTime Ltd (UTME)

[REAGAN]

A very small amount of shares in this.

As of the date of this report, Minfei Bao beneficially owns 4,380,000 of our ordinary shares, or 52.98% of our issued and outstanding ordinary shares, through Grandsky Phoenix Limited, a British Virgin Islands company, of which Mr. Bao controls 100% of the equity interest. As of the date of this report, Min He, one of our directors, beneficially owns 137,793 of our ordinary shares, or 1.66% of our issued and outstanding ordinary shares through HMercury Capital Limited, a British Virgin Islands company, of which Mr. He is the controlling shareholder. Prior to our initial public offering, Mr. Bao and Mr. He, collectively controlled 100% of our outstanding ordinary shares. Immediately after our initial public offering, they collectively control approximately 54.64% of our outstanding ordinary shares. As long as Mr. Bao owns or controls a significant amount of our outstanding voting power of our ordinary shares, Mr. Bao, or Mr. Bao and Mr. He, if they act together, has or have the ability to exercise substantial control over all corporate actions requiring shareholder approval, irrespective of how our other shareholders may vote, including: