In This Article:
CHENGDU, CHINA / ACCESS Newswire / April 28, 2025 / Wetouch Technology Inc. (Nasdaq:WETH) ("Wetouch" or the "Company") a leading provider of medium to large sized projected capacitive touchscreens, today announced its unaudited financial results for the year ended December 31, 2024. The company reported revenue of $42.3 million and earnings per share (EPS) of $0.48, reflecting strong performance across its diverse client base.
These results are unaudited and subject to change upon completion of the audit process.
"We are pleased with our financial performance in 2024, which demonstrates the strength of our business model and the dedication of our team," said Mr. Zongyi Lien, CEO of WeTouch Technologies Inc. "The recent $100 million supply agreement over three years is a testament to our competitive edge in the market, and we are excited about the growth prospects it brings. This new business is expected to drive impressive growth and record results in 2025."
Despite these robust financial results and promising outlook, the company's stock has been trading at levels that suggest significant undervaluation. Currently, the stock is priced at approximately 2 times the 2024 earnings and at just one-tenth of the cash value per share, which stands at nearly $9. This disconnect between the company's financial health and its market valuation presents a compelling opportunity for investors.
Furthermore, the board of directors is actively considering various alternatives to increase shareholder value. Shareholders are encouraged to stay tuned for future announcements regarding these initiatives.
About WeTouch Technology Inc.:
WeTouch Technology Inc. is a leading provider of high-quality touch display solutions, committed to revolutionizing human-machine interaction across various industries. With a focus on innovation and customer satisfaction, WeTouch delivers cutting-edge technology and unmatched performance in touch display solutions worldwide.
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 Wetouch's control, which may cause Wetouch's actual results, performance or achievements (including the RMB/USD value of its anticipated benefit to Wetouch 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 Wetouch's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. Wetouch 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.
