Welcome to our dedicated page for Wetouch Technology news (Ticker: WETH), a resource for investors and traders seeking the latest updates and insights on Wetouch Technology stock.
Wetouch Technology Inc. (WETH) drives innovation in human-machine interfaces through advanced touch display solutions for automotive, industrial, and smart home applications. This news hub provides investors and industry professionals with essential updates on the company's strategic developments and market leadership.
Access authoritative reports on product launches, financial disclosures, and partnership announcements. Stay informed about Wetouch's R&D breakthroughs in touchscreen durability and interactive performance across key sectors. Our curated collection includes earnings reports, manufacturing expansions, and technology licensing agreements.
Bookmark this page for real-time updates on Wetouch's global operations in China, Germany, and emerging markets. Discover how the company's customer-focused approach and quality assurance practices maintain its position as a preferred supplier for industrial HMI and automotive display systems.
Wetouch Technology Inc. (OTC: WETH) has completed 80% of its new production facility in Chengdu, China. The facility, covering nearly 20 acres, is expected to enhance production capacity to meet growing demand from top clients like Siemens and Canon. Wetouch plans to invest a total of RMB96 million for the facility and automated production lines, aiming for mass production in Q1 2023. The CEO forecasts potential annual sales of over RMB1 billion and net income exceeding RMB200 million once operational.
Wetouch Technology Inc. (OTC: WETH) has announced its financial guidance for fiscal 2022, anticipating stable revenue between $36.0 million and $44.0 million and a net income of $9.0 million to $11.0 million. Despite the ongoing challenges posed by the COVID-19 pandemic and global supply chain issues, the company reports strong demand for its medium to large projected capacitive touchscreens used in various sectors, including automotive and financial services. Wetouch has received significant purchase orders from clients in Germany and Japan, reflecting its robust market position.
Wetouch Technology Inc. (OTCQB: WETH) reported impressive second-quarter results for 2021, showcasing a 186.8% revenue increase to $15.2 million and a net income rise of 155.0% to $5.1 million. Gross profit reached $7.9 million, up 192.6%, with a gross margin of 51.9%. The company shipped 711,548 units, a 145.6% increase from the previous year. Cash and cash equivalents totaled $52.6 million, enhancing operational stability. The growth is attributed to strong domestic and international sales as well as a shift towards higher-margin products.
Wetouch Technology Inc. (OTCQB: WETH) reported a remarkable growth in its first quarter of 2021, with revenues increasing by 202.3% to $10.7 million compared to $3.5 million in Q1 2020. The net income surged by 563.9% to $8.4 million, aided by a one-time asset disposal gain of $7.6 million. Gross profit rose 197.5% to $5.1 million, leading to a gross margin of 48.4%. Cash at the end of the quarter stood at $54.5 million, up from $24.0 million at year-end 2020. Units sold increased by 178.3% to 499,796 touchscreens, reflecting strong market demand.
Wetouch Technology Inc. (OTC: WETH) has successfully completed the application process for quotation on the OTCQB, enhancing its visibility to a broader range of U.S. investors. Trading began on March 29, 2021. Mr. Guangde Cai highlighted that this up-listing is expected to improve liquidity and provide a transparent trading platform. Shareholders will automatically transition from the OTC Pink Open Market to the OTCQB. The OTCQB marketplace requires companies to fulfill specific disclosure obligations and pass key standards to ensure a high-quality trading experience.
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