UTime shares surge 55.74% premarket after announcing $80M Feixiaohao Web3 data platform acquisition.

UTime surged 55.74% in premarket trading following the announcement of a proposed $80 million deal to acquire Feixiaohao Technology, a leading Web3 data platform. The transaction, structured as $64 million in shares and $16 million in cash, aims to integrate Feixiaohao’s blockchain data infrastructure with UTime’s hardware ecosystem, potentially onboarding millions of crypto users. The CEO highlighted the strategic move to bridge hardware and digital assets, positioning UTime for growth in the expanding Web.