Wetouch Technology Inc. develops, manufactures, sells and services medium- to large-sized projected capacitive touchscreens and related touch display products. Its updates commonly cover financial results, product mix, China and overseas sales trends, cash and stockholders' equity, and demand across smart cockpit and in-vehicle HMI, self-service and point-of-sale terminals, gaming and lottery machines, medical devices, industrial automation, robotics and other specialized applications.
Company news also includes technology and market expansion developments, including curved touchscreen and optical bonding capabilities, large-size touch display production, regional offices, and supply relationships for industrial HMI and automation products.
Wetouch Technology Inc. unveiled its highly anticipated second-generation touchable screen products, setting a new standard in user experience. The innovative offerings received an overwhelming response from clients, with prominent international companies like Siemens, Canon, and Sharp already placing orders. These orders are projected to generate around US$15 million in new sales revenue for the fiscal year, highlighting the exceptional market demand and superior quality of Wetouch's products.
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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.