WeTouch Technology Inc. CEO Zongyi Lian's Letter to Shareholders

Wetouch Technology, a leader in the global touch display sector, recently released a letter from CEO Zongyi Lian highlighting the company's strong financial health and future prospects.

Rhea-AI Summary

Wetouch Technology, a leader in the global touch display sector, recently released a letter from CEO Zongyi Lian highlighting the company's strong financial health and future prospects. The company has a significant cash reserve of $94.8 million USD, providing a buffer for strategic investments. Wetouch has established partnerships with global industry leaders like Siemens, Delta, Weinview, Canon, and Sharp. Their new product line is expected to yield over 50% profit compared to earlier versions. The company believes it is currently undervalued and is contemplating actions to ensure market valuation reflects its true worth.

Positive

• Wetouch Technology has a substantial cash reserve of $94.8 million USD.
• Established partnerships with global industry leaders such as Siemens, Delta, Weinview, Canon, and Sharp.
• New product line expected to yield over 50% profit compared to previous versions.

Negative

• None.

Argus Session date unavailable

+2.54% session move Open Argus

Details

News Market Reaction – WETH

The recorded move for WETH in the trading session of this news was +2.54%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

CHENGDU, China, June 24, 2024 /PRNewswire/ -- WeTouch Technology Inc., (NASDAQ: WETH) ("WeTouch" or the "Company"), a leading innovator in the global touch display industry, today released CEO Zongyi Lian's Letter to Shareholders Strong Financial Position and Future Prospects of the company.

Dear Fellow Shareholders,

I hope this letter finds you well. I am writing to share some exciting updates and reaffirm the robust financial health and promising future of Wetouch Technology.

First and foremost, I am pleased to inform you that our company's financial situation is very solid. As of our latest balance sheet, Wetouch Technology boasts a substantial cash reserve of $94.8 million USD. This strong cash position provides us with a significant buffer and ample opportunities for strategic investments and growth.

In addition to our strong financial foundation, Wetouch Technology is proud to have established relationships with a roster of renowned global clients. Among our esteemed partners are industry leaders such as Siemens in Germany, Delta and Weinview in Taiwan area, and Canon and Sharp in Japan. These partnerships are a testament to the quality and reliability of our products and services.

Furthermore, we have made significant strides in product development. Our next generation of products not only showcases our innovative capabilities but also promises impressive financial returns. These new products are expected to yield more than 50% profits compared to the first generation, positioning us well for continued growth and success.

Given these solid foundations, we believe that Wetouch Technology is currently undervalued. We are considering various actions to ensure that our company's true value is recognized and reflected in the market. These actions aim to enhance value for our shareholders and investors, ensuring that our market valuation accurately represents our financial strength and growth potential.

We remain committed to driving long-term value and appreciate your continued trust and support. Together, we can look forward to a prosperous future for Wetouch Technology.

Best regards,

Zongyi Lian
CEO
Wetouch Technology Inc.

About WeTouch Technology Inc.

Wetouch Technology Inc. is at the forefront of providing premium touch display solutions, dedicated to reshaping human-machine interaction across diverse industries. With a relentless focus on innovation and customer satisfaction, Wetouch consistently delivers cutting-edge technology and unparalleled performance in touch display solutions globally.

For additional information, please visit: WeTouch Technology Inc.at http://en.usa-wetouch.com/

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook," "objective" and similar terms. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond Datasea's control, which may cause Datasea's actual results, performance or achievements  (including the RMB/USD value of its anticipated benefit to Datasea as described herein) to differ materially and in an adverse manner from anticipated results contained or implied in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Datasea's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. Datasea does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

Investor and Media Contact:

Horizon Research Management Consultancy
Michael Wei,
Email: hwey@horizonconsultancy.co

View original content:https://www.prnewswire.com/news-releases/wetouch-technology-inc-ceo-zongyi-lians-letter-to-shareholders-302180312.html

SOURCE Wetouch Technology Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is Wetouch Technology's current cash reserve?

As of the latest balance sheet, Wetouch Technology has a cash reserve of $94.8 million USD.

Which global clients has Wetouch Technology partnered with?

Wetouch Technology has partnered with Siemens, Delta, Weinview, Canon, and Sharp.

What is the expected profit increase for Wetouch Technology's new products?

The new products are expected to yield over 50% profit compared to the first-generation products.

Why does Wetouch Technology believe it is undervalued?

Wetouch Technology believes it is undervalued due to its strong financial foundation and promising future prospects, which are not currently reflected in its market valuation.