UTime shares surge 24.50% premarket after announcing $80M acquisition of Web3 data platform Feixiaohao.

UTime Limited (WTO) surged 24.50% in premarket trading following the announcement of a $80 million acquisition of Feixiaohao, a Web3 data platform. The nonbinding agreement, valued at 6400 million in UTime equity or convertible preferred stock plus $1.6 billion cash, positions the company to integrate blockchain data infrastructure with its hardware expertise, expanding into Web3 services. While the German report highlighted potential share dilution risks, the strategic move to leverage Feixiaohao’s technology and market access appears to have driven investor optimism. The acquisition aligns with growing demand for blockchain data tools and signals UTime’s pivot into high-growth tech sectors, outweighing short-term dilution concerns in the premarket reaction.