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Wetouch Technology Inc. (WETH)

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Last Post: 5/17/2022 11:41:57 AM - Followers: 61 - Board type: Free - Posts Today: 0

                                                                                                                   WETH                                                                                                                                                      

 

On 10/14/20, WeTouch Technology, Inc. reverse merged into the GLFW shell with the filing of a Form 10-12g. The stock symbol was changed to WETH. WeTouch Technology Inc. also goes by the name WeTouch Group, Sichuan VTouch Technology and Sichuan WeTouch. It is a subsidiary of Australia WeTouch, but the main operations are located in China. WeTouch, is involved in the development, manufacturing, sales and servicing of medium to large sized touchcreens. WeTouch touchscreens are used in a large range of industries, including finance, automotive, industrial, retail, gaming, lottery and medical, and the “WeTouch” brand is highly recognised and respected in these industries in China. *WeTouch Technology Inc. is the largest manufacturer of 5 wire / 4 wire resistive touchscreens and surface capacitive / projective capacitive (PCAP) touchscreen / touch monitors in China.




On 10/14/20 WeTouch (WETH) officially merged into the GLFW shell with the filing of the Form 10-12G
-WeTouch had $19 million in cash as of 6/30/20 with Total Assets of $43.2 million and Total Liabilities of $8.7 million
-WeTouch had $40 million in revenues in 2019
-WeTouch had Net Income of $13.7 million in 2019 and $11.8 million in Net Income in 2018
https://www.sec.gov/Archives/edgar/data/1826660/000149315220019460/form10-12g.htm



Wetouch started research and development for projected capacitive touch panel in early 2009, and founded Wetouch Technology Co,,Ltd( The following referred to Wetouch) in Renshou ShiGao Industrial Zone of Tianfu New Distrct with registered capital of 80 million CNY. The factory covers an area of 7,000 square meters, building area of 60, 000 square meters, with total investment of 200 million CNY.

Wetouch focus on designing, manufacturing and sales for projected capacitive touch panel from 7” to 42”,which is widely used for POS ,GPS ,Financial ,Industrial ,Lottery ,Gaming and Medical devices.

The factory was completed and was into production from September 2013, and has got government’s high-tech fund support for nearly more than 20 Million CNY. Wetouch has been qualified as Chinese bank self-service equipment and POS supplier for the size of 15”,17”,19”, while 8 to 10 inches for automotive industry.

As a leading provider of touch panel, Wetouch focuses on research and development, and has set up a professional R&D team with more than 30 engineers, sets up a research and development center for edging touch materials and new technology in Southwest Wels University. Till now, Wetouch has already got more than 10 patents, and got ISO9001, ISO14000, the FCC, CE, ROHS, TS16949 and other domestic and international certifications.

WeTouch Technology Company Website
http://www.de-wetouch.com/




WeTouch on Linkedin:

WeTouch is the largest manufacturer of 5 wire / 4 wire resistive touchscreen and surface capacitive / projective capacitive (PCAP) touchscreen / touch monitors in China
Most of our touchscreens are used in industry control, GPS, POS terminals, Medical Industry, Information Kiosk, Gaming Machine, payment kiosk and others
Company Size: 200 to 500 employees
https://www.linkedin.com/showcase/wetouchscreen



Australia WeTouch Technology LTD. Prospectus from 2017
WeTouch was going to go public on the Australian Stock Exchange (ASX) but never did
Here are some key highlights from their 2017 Prospectus:
 
Page 6 Section 1.2
The main operating entity of the Group, Sichuan VTouch Technology Limited Company (Sichuan WeTouch), is engaged in the development, manufacturing, sales and servicing of medium to large sized touchscreens. Sichuan WeTouch’s products are used in a large range of industries, including finance, automotive, industrial, retail, gaming, lottery and medical, and the “WeTouch” brand is highly recognised and respected in these industries in China
 
Page 8
Sichuan WeTouch’s touchscreen products are sold to a range of institutional customers. Its top key existing customers are: > Hong Kong Caibo Tech Co., Ltd; > Shenzhen City Diret Technology Co., Ltd; > Shenzhen Soling Industrial Co., Ltd; > Canon (Suzhou) Co., Ltd; > Multimedialink; > Mesada Technology Co., Ltd; > Siemens Industrial Automation Products (Chengdu) Co., Ltd; > Shenzhen Tokwa Precision Technology Co., Ltd; > Suzhou Weinview Co., Ltd; > Telerex Nederland B.V.; > Taiwan Yili Electronic Industry Co., Ltd; > Omron (Guangzhou) Car Electric Co., Ltd; > Hong Kong Car Control Technology Co., Ltd; > Thai International Trade (Shenzhen) Limited Division; > Computer Express LLC; > Schneider Electric (China) Co., Ltd; and > AKG Technologies Inc.
 
Page 72 Section 6 -  Financial Information
Revenue has increased from A$3.2 million in 2014 to A$4.2 million in 2015 (a 34% increase), and to A$21.3 million in 2016 (a 397% increase) - A = Australian Dollars
In the first quarter of 2017, there is an order intake amounting to 130 million RMB ($18.5 million in US dollars)
The gross margin is 30.7% in 2014, 83.5% in 2015, and 53% in 2016. 
From the second half in 2016, the company went into mass production mode resulting in lower unit production cost, and coupled with the substantial growth in overseas sales which are more profitable, saw an improvement in its gross margin compared to 2014.
https://www.upcomingfloats.com.au/Prospectus/AUSTRALIA%20WETOUCH%20TECHNOLOGY%20LTD.PDF


WeTouch 2016 Slide Presentation:
https://pdfslide.net/documents/wetouch-company-profile-201611.html


Two 2017 Articles on WeTouch:

WeTouch, which is based in Sichuan Province, has grown rapidly since it was founded in 2011 by Guangde Cai
It now employes more than 300 people in China producing medium to large size touchscreens for a variety of industries including retail, finance, gaming, health and the automotive industry.
WeTouch's customers include Siemens, Schneider Electric and Canon
https://www.manmonthly.com.au/unsw-touch-screens-wetouch

The business was founded in 2011 by Guangde Cai who is the major shareholder of the company and he had personally funded it to date, in addition to a $20 million research grant from the Chinese government.
In the past 18 months the company moved from small production runs to large scale production and this resulted in its revenue growing from $4 million to $21 million in 2016 and it's profit jumping from only $145,000 to $7 million in 2016. (Probably in Australian dollars)
https://www.afr.com/technology/chinese-touchscreen-manufacturer-wetouch-the-latest-foreign-firm-to-hit-the-asx-20170517-gw720g




WETH Insider Ownership (According to the 10Q ending 6/30/20)
*Guangde Cai - Is the majority owner of WETH  with 50.48% of Common Stock
*Guangde Cai also owns 100% of Qihong Technology LTD. (Qihong Techonology Ltd. is 100% held by WeTouch Technology)
*Guangde Cai is the majority owner and founder of WeTouch Technology 
*Jiaying Cai owns 100% of Qixun Technology Limited


WETH Share Structure (Post Reverse Merger and symbol change)
Outstanding Shares - 31,397,083 - 12/22/2020
Restricted Shares - 30,694,862 -12/22/2020
Unrestricted - 702,221 - 12/22/2020



On 9/30/20 the name was officially changed from Gulf West Investment Properties Inc. to WeTouch Technology Inc. on the NVSOS site 
*Guangde Cai, the new majority owner of WETH, is the founder and owner of WeTouch. A company that was trying to go public on the ASX stock exchange in 2017 but never did

On 10/14/20, WeTouch Technology, Inc. (WETH) officially merged into the shell with the filing of the Form 10-12g
*WeTouch has $19 million in cash as of 6/30/20 with Total Assets of $43.2 million and Total Liabilities of $8.7 million
*WeTouch had $40 million in revenues in 2019
*WeTouch had Net Income of $13.7 million in 2019 and $11.8 million in Net Income in 2018
https://www.sec.gov/Archives/edgar/data/1826660/000149315220019460/form10-12g.htm


Wetouch Technology Prospectus 1/08/21
https://www.otcmarkets.com/filing/html?id=14608590&guid=XleqUq3bRv4Dm3h
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PostSubject
#2140   10Q is out : https://www.otcmarkets.com/stock/WETH/disclosure molee 05/17/22 11:41:57 AM
#2139   i will hold $WETH for $10+ pps, or Welcome2Pinkyland 05/07/22 10:24:27 AM
#2138   8K out : https://www.otcmarkets.com/filing/html?id=15784081&guid=FiqwkFB7mMtadth molee 05/04/22 10:06:04 AM
#2137   Surprise , another S-1/A is out ... molee 04/28/22 12:52:01 PM
#2136   The question remains : Why "borrow" so much molee 04/19/22 02:34:10 PM
#2135   NOTE 11 – CONVERTIBLE PROMISSORY NOTES PAYABLE a) abrooklyn 04/19/22 02:17:29 PM
#2134   Results of Operations Highlights for the year ended abrooklyn 04/19/22 01:17:02 PM
#2133   $WETH 10K is published ... molee 04/18/22 09:18:36 AM
#2132   Form 3’s for BOARD OF DIRECTORS Guangde Cai Chairman Jiaying Cai Jing abrooklyn 03/29/22 05:26:50 PM
#2131   More SEC filings : https://www.otcmarkets.com/stock/WETH/disclosure molee 03/29/22 10:35:41 AM
#2130   Some new SEC filings to peruse ... molee 03/23/22 08:51:41 AM
#2129   4k for sell @ .6 - no takers. Welcome2Pinkyland 02/24/22 02:26:26 PM
#2128   A N O T H E R ... molee 02/15/22 01:23:04 AM
#2127   "As of September 30, 2021, our cash and Prinz18 02/04/22 01:08:41 PM
#2126   Confusing, for sure….. abrooklyn 02/02/22 10:03:32 AM
#2125   Didn't seem like a problem when the stock molee 02/02/22 12:35:32 AM
#2124   SEC Filing Obligations We became subject to the abrooklyn 02/01/22 03:15:06 PM
#2123   Fresh S-1A has been posted : https://www.otcmarkets.com/stock/WETH/disclo molee 02/01/22 10:26:44 AM
#2122   New Year same $WETH .. When will she molee 01/05/22 01:33:05 PM
#2121   $ 54m cash per 09/30 and they sell Prinz18 12/29/21 07:47:38 PM
#2120   Oh great , another S-1/A ... We're going molee 12/24/21 12:33:25 AM
#2119   More docs out : https://www.otcmarkets.com/stock/WETH/disclosure molee 12/20/21 02:24:30 PM
#2118   Opportunity knocks. As seen on tv - Welcome2Pinkyland 12/08/21 04:01:09 PM
#2117   Somebody puts up some nice bid support and molee 12/01/21 03:07:35 PM
#2116   Ok. I’ll look. Great news. IPO$ 11/22/21 05:21:19 PM
#2115   It’s buried in the filings and mentioned in rcaselli 11/22/21 03:44:10 PM
#2114   What month did they announce nasdaq? I’ll look. IPO$ 11/22/21 03:43:01 PM
#2113   Guess you don’t read the filings? rcaselli 11/22/21 03:39:05 PM
#2112   True but I hope they apply for it. IPO$ 11/22/21 03:38:38 PM
#2111   NASDAQ will be their microphone. Stay tuned. HoverTouch rcaselli 11/22/21 03:38:11 PM
#2110   Market cap is cheap IPO$ 11/22/21 03:37:06 PM
#2109   Chinese based in Sichuan. Poor communication. IPO$ 11/22/21 03:36:53 PM
#2108   Keyword: Yet. There has been zero communication. I can rcaselli 11/22/21 03:24:04 PM
#2107   Strong fundamentals but no liquidity in the shares. IPO$ 11/22/21 02:57:55 PM
#2106   Another promissory note : https://www.otcmarkets.com/filing/html?id=15357018&gui molee 11/17/21 08:03:55 AM
#2105   Read the latest filing. Application is in. Kickers rcaselli 11/15/21 11:01:51 AM
#2104   Everybody says they will be trading on NASDAQ IPO$ 11/15/21 10:46:59 AM
#2103   I’m here for when the appointment with NASDAQ concludes. rcaselli 11/15/21 10:22:59 AM
#2102   Stock trades by appointment only. IPO$ 11/15/21 10:13:13 AM
#2101   At a buck thirteen ? What good would molee 11/11/21 09:41:23 PM
#2100   On September 13, 2021, the Company filed a rcaselli 11/11/21 09:36:05 PM
#2099   $WETH 10Q is out : molee 11/10/21 09:16:57 AM
#2098   Cash on hand As of June 30, 2021 abrooklyn 11/08/21 01:08:48 PM
#2097   Links not opening for me Welcome2Pinkyland 11/07/21 01:19:13 AM
#2096   Ah Ha ! Now , an explanation for molee 11/06/21 11:29:53 AM
#2095   Yeah and at $1.13 it’s delicious. I’ll ride rcaselli 11/06/21 01:46:46 AM
#2094   Remember this post ? Ah , the good molee 11/05/21 03:53:11 PM
#2093   $WETH hover touch. Going for a dollar. Welcome2Pinkyland 10/28/21 01:45:30 PM
#2092   Nasdaq bound >> Thanks for the cheapies ... LOL molee 10/28/21 01:20:36 PM
#2091   S-1/A filing out : https://www.otcmarkets.com/filing/html?id=15277834&guid=wsowk molee 10/14/21 02:01:16 PM
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