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Wetouch Technology Inc. (WETH) Announces FY2022 Financial Guidance

Number of visits: Date:September 07, 2022 08:30

Expects stable revenue from core products business in 2022, guiding to total revenue in the range of $36.0 million to $44.0 million.

Net income in the range of $9.0 million to $11.0 million.

Chengdu, China, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Wetouch Technology Inc. (OTC: WETH) ("Wetouch" or "the Company"), a specialty manufacturer of medium to large sized projected capacitive touchscreens, today announced its financial guidance for fiscal year 2022.

“We are very pleased by the strong demand trends we have seen in our business. Despite COVID-19 pandemic as well as continued global supply chain constraints, we expect stable revenue in fiscal year 2022, guiding to sales in the range of $36.0 million to $44.0 million.” commented Guangde Cai, the Chairman of Wetouch. “As a prominent player in the medium and wide-format touchscreen sector for applications such as GPS/car entertainment panels in mid-size and luxury cars, industrial HMI, financial and banking terminals, POS and lottery machines, Wetouch has been supplying to customers, including certain Fortune 500 companies. In 2022, Wetouch has received several purchase orders from our customers in Germany and Japan. We are excited to service and maintain good relationship with them. Although the challenges from the macro environment remains in the short term, we are very confident with business prospects and believe our seasoned management team, technology and quality products and services and years of experience servicing multinational corporate clients will create lasting shareholder value.”

Caution Concerning Forward Looking Statements

The SEC encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. The information on this website contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance. The financial guidance reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

The Company's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company's actual results may vary materially from those expressed or implied in its forward-looking statements. Important factors that could cause the Company's actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the risk factors set forth in the Company’s Annual Report for the year ended December 31, 2021 filed with the SEC on April 15, 2022.

About Wetouch Technology Inc

Wetouch, through its indirect wholly-owned subsidiary Sichuan Vtouch Technology Co., Ltd, is engaged in the manufacturing and sales of medium to large sized projected capacitive touchscreens, ranging from 7.0 inch to 42 inch screens. The Company offers touchscreens for a variety of applications, including GPS/car entertainment panels for automotive industry, industrial human-machine interface (“HMI”), financial and banking terminals, point of sale, lottery and gaming machines, smart home, robots and charging stations. Wetouch sells its products both domestically in China and internationally, covering major areas in China, including but not limited to the eastern, southern, northern and southwest regions of China. Touchscreens produced by the Company not only have long life span and are low maintenance, but also have strong anti-interference, anti-corrosion, multi-touch capability and high light-transmittance ratio and stability. Wetouch has shipped products to South Korea and several European countries such as Spain and Germany and has established a strong and diversified client base. As of September 7, 2022, Wetouch holds 10 patents and has passed a number of industry certifications, including ISO9001, ISO14001, TS16949, FCC, CE, ROHS, CCC, ROHS.

Investor Relation Contact:

Guangde Cai

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