<SEC-DOCUMENT>0001213900-20-022974.txt : 20210504
<SEC-HEADER>0001213900-20-022974.hdr.sgml : 20210504
<ACCEPTANCE-DATETIME>20200819215855
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-20-022974
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200819

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UTime Ltd
		CENTRAL INDEX KEY:			0001789299
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC & OTHER ELECTRICAL EQUIPMENT (NO COMPUTER EQUIP) [3600]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		7TH FLOOR BUILDING 5A
		STREET 2:		SHENZHEN SOFTWARE INDUSTRY BASE
		CITY:			NANSHAN, SHENZHEN
		STATE:			F4
		ZIP:			518061
		BUSINESS PHONE:		8675586512266

	MAIL ADDRESS:	
		STREET 1:		7TH FLOOR BUILDING 5A
		STREET 2:		SHENZHEN SOFTWARE INDUSTRY BASE
		CITY:			NANSHAN, SHENZHEN
		STATE:			F4
		ZIP:			518061
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UTIME Limited</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">7<SUP>th</SUP>&nbsp;Floor, Building 5A<BR>
Shenzhen Software Industry Base, Nanshan District<BR>
Shenzhen, People&rsquo;s Republic of China 518061</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA EDGAR </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 19, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities &amp; Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Manufacturing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Mr. Russell Mancuso</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UTime
    Limited</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>Amendment No. 2 to Registration Statement on Form
F-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>Filed June 24, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><B>File No. 333-237260</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Mancuso:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">UTime Limited (the
&ldquo;Corporation,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo;) hereby transmits the Company&rsquo;s response
to the comment letter received from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the U.S. Securities and Exchange Commission
(the &ldquo;<B>Commission</B>&rdquo;), on July 6, 2020, regarding the Amendment No. 2 to Registration Statement on Form F-1 submitted
to the Commission on June 24, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the Staff&rsquo;s
convenience, we have repeated below the Staff&rsquo;s comments in bold, and have followed each comment with the Company&rsquo;s
response. Disclosure changes made in response to the Staff&rsquo;s comments have been made in Amendment No. 3 to the Registration
Statement on Form F-1 (the &ldquo;<B>Registration Statement</B>&rdquo;), which is being filed with the Commission contemporaneously
with the submission of this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Pre-effective Amendment 2 to Registration
Statement on Form F-1 filed June 24, 2020</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Variations of Rights of Shares,
page 143</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note your revisions in response to prior comment 7. Please reconcile your revised disclosure on page 143 with the language
    in section 10.1 of exhibit 3.2 regarding &ldquo;consent in writing of the holders of not less than three-fourths of the issued
    Shares of that class, or . . . the approval of a resolution passed by a majority of not less than two thirds of the votes
    cast at a separate meeting of the holders of the Shares of that class...the necessary quorum shall be one person holding or
    representing by proxy at least one third of the issued Shares of the class. . .&rdquo;</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Response: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure on page 140 of the Registration Statement and the language in section
10.1 of Exhibit 3.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 18 &ndash; Subsequent Events,
page F-35</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note from your response to prior comment 8 and revised footnote disclosure that the repurchase of ordinary shares pro-rata
    from existing shareholders was part of your recapitalization to reduce your ordinary shares issued and outstanding before
    completion of the offering and that you believe it is appropriate to reflect the repurchase similar to a reverse stock split.
    Although no cash was paid for the shares repurchase, we note you deducted the consideration equivalent to par value for shares
    repurchased from shares issued and outstanding and recorded the corresponding amounts within due to/from shareholders. Typically,
    stock splits or reverse stock splits do not result in any change equity. In this regard, please explain why your treatment
    as a reverse stock split is appropriate when you have reduced equity. We may have further comment upon receipt of your response.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Response: In response to the
Staff&rsquo;s comment, the Company has updated its consolidated financial statements for the year ended March 31, 2020 in the
Registration Statement to record the reduction in the ordinary shares par amount caused by the repurchase of shares as an addition
to the additional paid-in capital. This transaction did not result in any change to shareholders&rsquo; equity. The ordinary shares
have been repurchased and subsequently cancelled with consideration waived by the shareholders. Accordingly, the Company believes
the repurchase of shares is a reverse stock split in substance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10pt 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Mr. Russell Mancuso</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-transform: uppercase">8/19/20</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Page <FONT STYLE="text-transform: uppercase">2</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10pt 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Exhibits</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note your response to prior comment 11. If the term &ldquo;non-assessable&rdquo; has a meaning under the laws of your jurisdiction
    that is different from the meaning of that term under U.S. law, your prospectus should disclose any material information with
    respect to that meaning; the legality opinion that you file as an exhibit to your registration statement should address whether
    the shares of capital stock are non-assessable based on the meaning of that term under U.S. law. Please file an opinion that
    addresses whether a holder of the offered shares is liable, solely because of security holder status, for additional assessments
    or calls on the security by the registrant or its creditors. For guidance, see sections II.B.1.a and II.B.1.c of Staff Legal
    Bulletin No. 19 (October 14, 2011).</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: 415.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Response: In response to the Staff&rsquo;s
comment, Maples and Calder has revised its opinion in Exhibit 5.1 to clarify that the definition of &ldquo;non-assessability&rdquo;
in its opinion means that with respect to shares in the Company, a holder of the offered shares shall not be liable, solely because
of security holder status, for additional assessments or calls on the security by the registrant or its creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We
    note your response to prior comment 12. However, the language in exhibit 99.7 appears to be limited to &ldquo;disclosures
    regarding the legal matters related to Indian law as applicable to Do Mobile.&rdquo; The disclosures in your prospectus regarding
    the opinions of the counsel named in exhibit 99.7 do not appear to be limited to legal matters related to Indian law as applicable
    to Do Mobile. Please tell us the reason for the differences, or file a revised consent as appropriate.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: 415.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Response: In response to the Staff&rsquo;s
comment, the Company has revised Vaish&rsquo;s consent and filed it as exhibit 99.6 to include all the relevant disclosures in
the Registration Statement.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We thank the Staff
for its review of the foregoing and the Registration Statement. If you have further comments, please feel free to contact to our
counsel, Jessica Yuan, at jyuan@egsllp.com or by telephone at (212) 370-1300.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Minfei Bao</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minfei
    Bao, Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UTime
    Limited</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 171pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cc:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Barry
I. Grossman, Esq.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Jessica S. Yuan, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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