Basic and Diluted Earnings Per Share Reached $0.32, Increasing 52.4% Year-over-Year
CHENGDU, CN / ACCESS Newswire / May 18, 2026 / WeTouch Technology Inc. (NASDAQ:WETH) ("WeTouch" or the "Company"), a company focused on the research, development, manufacturing, sales and servicing of medium- to large-sized projected capacitive touchscreens and related touch display products, today announced its unaudited financial results for the first quarter ended March 31, 2026.
First Quarter Fiscal Year 2026 Highlights
Revenue: $16.3 million, up 6.5% from $15.3 million in Q1 2025. Growth driven by higher average selling prices, slight increase in unit volume, and favorable RMB/USD exchange rate effects.
Gross Profit: $5.8 million, compared with $5.6 million in Q1 2025. Gross margin was 35.7%, slightly down from 36.9% in the same period last year, primarily due to higher labor and material costs.
Net Income: $3.9 million, an increase of 50% from $2.6 million in Q1 2025.
Earnings Per Share: Basic and diluted earnings per share were $0.32, compared with $0.21 in Q1 2025, representing an increase of 52.4% year-over-year.
Units Shipped: 763,325 units, essentially flat compared to 762,545 units in Q1 2025.
Cash and Cash Equivalents: $120.5 million, up from $118.4 million as of December 31, 2025.
Shareholders' Equity: $143.2 million, up from $137.4 million as of December 31, 2025.
Management Commentary
"We achieved solid revenue growth and a significant increase in net income in the first quarter of 2026," said Zongyi Lian, Chief Executive Officer of WeTouch Technology Inc. "Basic and diluted earnings per share increased 52.4% year-over-year to $0.32, reflecting improved profitability on a per-share basis. Our efforts to optimize the product mix have proven effective, with high-end touchscreens widely deployed across financial terminals, smart cockpit and in-vehicle HMI applications, self-service and POS terminals, gaming and lottery machines, medical devices, industrial automation and human-machine interface systems, robotics and intelligent equipment interfaces, and other specialized applications, significantly contributing to the Company's profitability. We continue to see strong demand in both domestic and select international markets."
Mr. Lian continued, "Construction of our new Chengdu production facility remains underway, with completion expected by the first half of 2027 and production to commence by the end of 2027. The significant increase in earnings per share reflects improved profitability on a per-share basis, while our strong cash position and disciplined operations provide the Company with the flexibility to execute on growth initiatives, invest in product and capacity expansion, and support the creation of long-term shareholder value over time."
Market and Business Overview
China Market: Revenue from the PRC reached $11.0 million, representing 67.5% of total revenue, driven by strong demand for high-end touchscreens in automotive and industrial segments.
Overseas Market: Revenue from international markets totaled $5.3 million, or 32.5% of total revenue, reflecting modest growth led by automotive, gaming, and industrial control touchscreen segments, with Taiwan and South Korea as key contributors.
Product Mix: The Company continued to shift production toward higher-margin, high-end touchscreens, including automotive, industrial control, POS, medical, and multifunctional printer applications.
Outlook
Looking ahead, WeTouch expects continued demand in its established markets, including industrial automation, automotive and smart cockpit displays, self-service terminals, and other specialized touchscreen applications. At the same time, the Company is actively exploring the broader intelligent technology market, such as smart interactive terminals, AI-driven human-machine collaboration interfaces, and intelligent device control systems, representing significant long-term growth potential at the intersection of technology and human-machine interaction. WeTouch will continue to focus on customer expansion, operational efficiency, and technology development, while optimizing its product portfolio to support sustainable long-term growth and capture opportunities in emerging smart applications.
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.
For additional information, please visit the Company's website at: http://en.usa-Wetouch.com/
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 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.
Investor and Media Contact:
Email: Michaelw@wetouch.com.cn
SOURCE: Wetouch Technology Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/wetouch-technology-inc.-reports-first-quarter-fiscal-year-2026-r-1167691
