Core Viewpoint - UTime Limited intends to acquire 100% of Feixiaohao Technology Inc. for up to USD80 million, marking its strategic entry into the Web3 and blockchain data infrastructure sector [1][2]. Group 1: Acquisition Details - The acquisition is structured as USD64 million in UTime ordinary shares or convertible preferred shares and USD16 million in cash [2]. - The deal includes all technology platforms, source code, databases, trademark rights, and key employee contracts related to the Feixiaohao platform [4]. Group 2: Strategic Rationale - The acquisition aims to integrate Feixiaohao's data capabilities with UTime's hardware expertise, potentially creating innovative applications that connect physical devices with digital assets [5]. - Feixiaohao serves millions of cryptocurrency investors and provides essential data services, establishing itself as a trusted gateway in the cryptocurrency landscape [3]. Group 3: Next Steps - Following the execution of a nonbinding term sheet, preliminary discussions have commenced, with intentions to negotiate and execute a definitive agreement [6].