UTime shares rise 23.10% premarket after announcing $80M Feixiaohao Web3 data acquisition.

UTime (WTO) surged 23.10% in premarket trading following the announcement of a proposed $80 million acquisition of Feixiaohao Technology, a Web3 data platform with millions of crypto users. The deal, structured as $64 million in shares and $16 million in cash, would integrate Feixiaohao’s blockchain data infrastructure into UTime’s hardware ecosystem, enabling new applications linking physical devices to digital assets. The company emphasized the strategic value of Feixiaohao’s user base and technology assets, positioning the acquisition as a pivotal entry into the Web3 sector. The sharp premarket rise reflects investor optimism about UTime’s expansion into blockchain services and the potential to monetize Feixiaohao’s existing platform. Other news items, including unrelated stock price fluctuations and untranslated regional announcements, lacked material relevance to the movement.