Wetouch Technology Inc. Announces $56.3M USD Revenue Guidance for FY 2024, Reflecting 41% Growth Over FY 2023

CHENGDU, China, April 22, 2024 /PRNewswire/ -- Wetouch Technology Inc. (NASDAQ: WETH), a trailblazer in the global touch display industry, is pleased to announce its revenue guidance of $56.3 million USD for the fiscal year 2024, reflecting robust 41% growth and a resilient financial performance.

Building upon the solid foundation laid in 2023, during which Wetouch recorded revenue of $39.70 million USD and net income of $8.26 million USD, the company continues to demonstrate its commitment to driving innovation and delivering value to shareholders. This marks a notable increase of approximately 41% in revenue from the previous fiscal year.

Mr. Tsungyi Lien, CEO of Wetouch, expressed his optimism regarding the company's performance, stating, "We are enthusiastic about Wetouch's performance and growth opportunities in fiscal year 2024. With an expanding portfolio of major clients globally, we are confident that our continued commitment to innovation and customer satisfaction will drive significant value for our shareholders."

Following this positive outlook, Wetouch remains dedicated to expanding its global footprint and enhancing its product offerings to meet the evolving needs of its customers. With ongoing investments in research and development, strategic partnerships, and operational efficiency, Wetouch is poised to capitalize on emerging opportunities and maintain its leadership position in the touch display industry.

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.

Safe Harbor Statement:

This press release may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by terms such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar expressions. Such statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Additional information regarding these risks and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission (SEC). All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements, except as required by law.

This press release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer for sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

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SOURCE Wetouch Technology Inc.