Wetouch Technology Inc.

Listed Company

WETHCIK 0001826660NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthComputer Peripheral Equipment, NecNevadaCNFY ends Dec 31

Period

FY 2025

Revenue

$45.14M

Net Income

$7.16M

Total Assets

$140.64M

Equity

$137.39M

Shares Out

11.93M

Op. Cash Flow

$7.39M

Business

Wetouch Technology Inc. designs, develops, manufactures, sells and services medium- to large-sized projected capacitive touchscreens. Its main products are touchscreen panels sized approximately 7.0 to 42 inches offered in Glass-Glass (GG), Glass-Film-Film (GFF), Plastic-Glass (PG) and Glass-Film (GF) structures with multi-touch capability and enhanced durability. The company’s business is organized around product types and industry applications serving automotive, POS, gaming, lottery, medical, financial terminals and industrial HMI markets. It sells directly through its sales force, online marketing and trade exhibitions to customers domestically in Mainland China and internationally, including Taiwan, South Korea and Germany.

Summary from filing dated 2025-09-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUES	45	42	40	38	41
COST OF REVENUES	−31	−29	−23	−24	−22
GROSS PROFIT	14	14	17	14	18
Selling expenses	−569,240	−752,795	−608,524	−1	−630,503
General and administrative expenses	−4	−4	−4	−1	−2
OPERATING EXPENSES	−4	−4	−5	−3	−6
INCOME FROM OPERATIONS	10	9	13	11	13
Interest income	156,627	152,336	117,719	118,714	95,534
Interest expense	—	−1	−252,325	—	—
Other income	35,906	10,708	—	—	—
Gain (loss)on changes in fair value of common stock purchase warrants liability	—	378,371	—	871,677	759,471
TOTAL OTHER INCOME (EXPENSE), NET	192,533	−628,559	−303,347	668,579	9
INCOME BEFORE INCOME TAX EXPENSES	10	9	12	12	22
INCOME TAX EXPENSES	−3	−3	−4	−3	−4
NET INCOME	7	6	8	9	17
Foreign currency translation adjustment	6	−3	−4	−5	1
COMPREHENSIVE INCOME	13	3	4	3	—
Basic (in Dollars per share)	0.6	0.52	0.89	5.38	0.55
Diluted (in Dollars per share)	0.6	0.52	0.89	4.73	0.55
Basic (in Shares)	12	12	9	2	32
Diluted (in Shares)	12	12	9	2	33

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	118	104	98	51	46
Accounts receivable, net	7	8	7	9	8
Inventories	45,202	112,327	222,102	423,276	244,381
Prepaid expenses and other current assets	1	3	1	1	2
TOTAL CURRENT ASSETS	126	114	107	62	57
Property, plant and equipment, net	9	13	13	11	12
Land use right, net	544,118	—	—	—	—
Operating right-of-use assets	521,454	1	—	—	—
Deferred tax assets	71,223	41,397	—	—	—
Long-term prepayment	5	—	—	—	—
TOTAL ASSETS	141	128	120	73	69
Accounts payable	1	1	640,795	1	800,586
Accrued expenses and other current liabilities	1	966,461	4	944,624	310,407
Operating lease liabilities- current	521,454	571,539	—	—	—
TOTAL CURRENT LIABILITIES	3	3	6	4	3
Operating lease liabilities- non current	—	482,606	—	—	—
TOTAL LIABILITIES	3	3	7	4	4
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Common stock, $0.001 par value, 15,000,000 shares authorized, 11,931,534 and 11,931,534 issued and outstanding as of December 31, 2025 and 2024, respectively	11,932	11,932	9,733	1,680	31,812
Additional paid in capital	53	53	44	3	2
Statutory reserve	8	8	7	6	5
Retained earnings	82	75	69	62	55
Accumulated other comprehensive loss	−5	−11	−7	−3	2
TOTAL STOCKHOLDERS EQUITY	137	125	113	69	64
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	141	128	120	73	69

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
(Reversal of) allowance for credit losses	−30,516	44,862	—	—	—
(Reversal of) provision for obsolete inventory	−36,971	54,873	—	—	—
Depreciation and amortization	22,374	9,805	9,403	9,891	381,167
Impairment loss on construction in progress	175,426	—	—	—	—
Amortization of discounts and issuance cost of the notes	—	5,715	33,655	148,368	8,550
(Gain) on changes in fair value of common stock purchase warrants liability	—	−378,371	—	—	—
Amortization of operating Right-of-use assets	601,157	98,387	—	—	—
Accounts receivable	1	−256,681	1	−1	5
Inventories	107,066	50,328	187,532	−197,453	190,490
Prepaid expenses and other current assets	2	−2	333,415	853,426	−2
Deferred tax assets	−27,256	−41,993	—	—	—
Long-term investment	−4	—	—	—	—
Accounts payable	−248,654	649,915	−21,578	−41,068	−50,424
Loans from a third party	—	−135,000	—	—	—
Due to related parties	137,100	149,211	−1,665	—	−575,329
Accrued expenses and other current liabilities	393,236	−3	3	—	—
Operating lease liabilities	612,684	−98,387	—	—	—
Net cash provided by operating activities	7	1	13	9	14
Purchase of property, plant and equipment	−322,304	−271,830	−2	—	—
Net cash used in investing activities	−322,304	−271,830	−2	—	6
Proceeds from issuance of public offerings, net of expenses	—	9	—	—	—
Repayments of convertible promissory notes payable	—	−1	−55,000	−1	—
Net cash provided by financing activities	—	8	40	−652,635	2
Effect of changes of foreign exchange rates on cash	8	−3	−4	—	—
Net increase in cash	15	6	47	5	22
Interest paid	—	1	—	10,000	—
Income taxes paid	3	3	4	3	4
Issue costs charged to additional paid-in capital	—	2	—	—	—
Exercise of warrant shares	—	38,586	—	—	—
Lease liabilities arising from obtaining right-of-use assets	11,526	1,992	—	—	—

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