Company remains profitable and well-funded with approximately $105 million in cash as of last reported quarter
Management believes stock is undervalued and is evaluating share repurchase activity under existing buyback plan
CHENGDU, CHINA / ACCESS Newswire / June 27, 2025 / WeTouch Technology Inc. (Nasdaq:WETH) ("WeTouch" or the "Company") a leading provider of medium to large sized projected capacitive touchscreens, today announced an update on its Nasdaq listing compliance and corporate governance.
On June 26, 2025, the Company received written notice from The Nasdaq Stock Market LLC ("Nasdaq") that Nasdaq had reviewed and accepted the Company's compliance plan regarding the delayed filing of its Form 10-K for the year ended December 31, 2024 and Form 10-Q for the quarter ended March 31, 2025. Nasdaq has granted WeTouch an exception through October 13, 2025 to regain compliance with Nasdaq Listing Rule 5250(c)(1), provided the Company files all outstanding reports by that date. The Company is confident that it will meet this deadline.
"Our operations remain strong and stable, and we continue to generate profits while maintaining a healthy financial position," said Mr. Zongyi Lian, Chief Executive Officer of WeTouch. "As of the quarter ended September 30, 2024, we held approximately $105 million in cash, or around $8.90 per share. We believe our stock is undervalued relative to our financial position and business prospects and are actively evaluating activity under our existing stock buyback plan. We remain fully committed to enhancing shareholder value and upholding our Nasdaq listing."
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.
For more information, please contact:
Horizon IR
Michael Wei,
Email: hwey@horizonconsultancy.co
SOURCE: Wetouch Technology Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/wetouch-technologies-inc.-receives-nasdaq-extension-to-file-fina-1043681
