Wetouch Technology Inc (WETH)

[molee]

INTL no longer at $2.70 . Good sign I hope ...

Stay safe >> M

[rcaselli]

……………and HoverTouch.

Yep, Google it.
Cuz people don’t wanna touch nothing.


WETH

[rcaselli]

Sales, revenues, factories, products, EPS, audits, millions in the bank.…..this takes pages.

#hahahaha(x)151


WETH

[Welcome2Pinkyland]

Only 151 pages, I thought it would be more. $$$ $WETH $$$

[rcaselli]

NASDAQ here we come…..

From seeds, big trees grow.


WETH

[rcaselli]

https://www.otcmarkets.com/filing/conv_pdf?id=15222841&guid=2nb9k6-X1NiBtth

[rcaselli]

It’s likely not tomfoolery but super thinly traded foreign stock with no eyeballs.

Market Maker was likely at lunch or called in sick. Usually it’s something just basic or dumb.


WETH

[molee]

That's right . "Z" code for "out of sequence" ...

I don't get this kind of tom foolery ..

Date/Time Price Shares
08/24/2021 11:27:21 EDT I 2.70 11
08/24/2021 11:27:19 EDT Z 2.70 100
08/24/2021 11:27:19 EDT Z 2.70 100
08/24/2021 11:12:55 EDT Z 2.70 200
08/24/2021 11:12:55 EDT Z 2.70 200
08/23/2021 9:56:06 EDT Z 2.70 451
08/23/2021 9:56:06 EDT Z 2.70 451
08/23/2021 9:47:24 EDT Z 2.70 751
08/23/2021 9:47:24 EDT Z 2.70 751

[rcaselli]

I also bought 200 shares today and no prints exist. Lol. WTF. Maybe it’ll report late? Hmm.

WETH

[rcaselli]

I see it differently, molee.

$2.70 is extremely undervalued.
When the Naz listing just happens, peeps will be scrambling.

Then they will talk about Hover Touch.
$$$$WETH$$$$

[molee]

Continued buys @ $2.70 will not budge the ask price ...

A little discouraging to those buying I would think .

Wonder what the "deal" is ...

Stay safe >> M

[Welcome2Pinkyland]

Boomity boom. $WETH super undervalued $$

[rcaselli]

#addingcheapieshere
#offallgrids
#untilsuddenlyoneday
#boom


WETH

[Welcome2Pinkyland]

it is only $52m. Chump change. $24 pps based only on eps and a factor of 30- for growth. $WETH Could go to $50 or only $15- time tells all $$

[rcaselli]

What about all the cash in the bank, too.
OMG. LOL.
HOVER TOUCH THE NAZ BELL.


WETH

[Welcome2Pinkyland]

.20 EPS extrapolated out 4 quarters .80 x 30 = $24 pps potential for $WETH and its hover technology and potential move to NASDAQ $$

[Welcome2Pinkyland]

Sounds awesome $$

[rcaselli]

Just wait until they tell this story to the
crowd of NASDAQ investors.

And if you peruse their website and LinkedIn stuff you’ll see snippets of the “Hover Touch” technology which is sexyAF in this day and of germs and viruses transmitted by touch.

IMHO, this “Hover Touch” technology seems to solve this.


WETH

[Welcome2Pinkyland]

$WETH Second Quarter 2021 Financial Highlights

Revenues were US$15.2 million, an increase of 186.8% from $5.3 million in the second quarter of 2020

Gross profit was $7.9 million, an increase of 192.6% from $2.7 million in the second quarter of 2020.

Gross margin was 51.9%, compared with 50.7% in the second quarter of 2020.

Net income was $5.1 million, compared to $2.0 million in the second quarter of 2020.

Total volume shipped was 711,548 units, an increase of 145.6% from 289,668 units in the second quarter of 2020.

Cash flow from operations was $11.1 million, compared to $5.6 million in the six months ended June 30, 2020.

Cash as of the end of the second quarter of 2021 was $52.6 million, compared to $23.0 million as of December 31, 2020.

Basic and diluted EPS were $0.2, compared with $0.1 in the same period of 2020.

[rcaselli]

Numbers released just today.
Lol.
Take off your shoes.
Pour a glass of bourbon.
Let them keep making electronics.
Cha-Ching Cha-Ching


WETH

[molee]

Just a "head scratcher" for me ....

Last quarter was disappointing because of that charge = share price dropped ... I get it ...

This quarter #s look real good , no share price reaction .. ???

Maybe I just need to be more patient before I turn into a patient ...

[Welcome2Pinkyland]

Awesome #’s. I will hold for gold. $WETH $$

[rcaselli]

Don’t disagree there. And duh, we’re all in it for the eventual payoff.

Perhaps they’re telling certain people or groups of people. Perhaps not. Perhaps they personally don’t care right now as they’re too busy making and selling their technologies. And since they’re not diluting, no need to be worried about saying anything right now, either.

I can wait for the oven to beep when it’s ready.

BTW, here’s your IR peep:

Investor Relation Contact
Sophie Zhang
[e-mail]

She’s never once replied to an email.


WETH

[molee]

That would be nice ... Why not state that is the plan going forward ?

( FD ) I am here to make $$$$ so share price is important to me .

Stay safe >> M

[rcaselli]

They do have a PR firm. But IMHO, news when you’re on the QB is wasted breath.

IMHO, the next shoe to drop is an uplist to bigger exchange. Then the news flow will start in earnest.

Walk softly, but carry a big stick.


WETH

[molee]

Thinkin' the same thing ... Do they have a PR firm ?

Should be north of $4 I would think ...

Stay safe >> M

[Prinz18]

PE of 3,3
$ 1.65 cash/share and....

...trading at $ 2.65!!!

Unbelieveable!!!!

[Prinz18]

This POS is so undervalued.... how come nobody is buying?

[molee]

Wetouch Technology Inc. (WETH) Reports Second Quarter 2021 Unaudited Financial Results :

https://www.otcmarkets.com/filing/html?id=15149095&guid=UrN1k6-asmnFrth

-Revenues increased by 186.8% to $15.2 million-

-Net income increased by 155.0% to $5.1 million-

Chengdu, China, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Wetouch Technology Inc. (OTCQB: WETH) ("Wetouch" or "the Company"), a specialty manufacturer of medium to large sized projected capacitive touchscreens, today announced its unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Financial Highlights

Revenues were US$15.2 million, an increase of 186.8% from $5.3 million in the second quarter of 2020

Gross profit was $7.9 million, an increase of 192.6% from $2.7 million in the second quarter of 2020.

Gross margin was 51.9%, compared with 50.7% in the second quarter of 2020.

Net income was $5.1 million, compared to $2.0 million in the second quarter of 2020.

Total volume shipped was 711,548 units, an increase of 145.6% from 289,668 units in the second quarter of 2020.

Cash flow from operations was $11.1 million, compared to $5.6 million in the six months ended June 30, 2020.

Cash as of the end of the second quarter of 2021 was $52.6 million, compared to $23.0 million as of December 31, 2020.

Basic and diluted EPS were $0.2, compared with $0.1 in the same period of 2020.

“Our second quarter results continued to be strong leading off our fiscal year 2021 on a positive note, and we are pleased with our progress and remain on track to deliver full-year robust top and bottom-line growth. Business conditions remained exceptionally strong through the second quarter with record bookings and backlog for product to be shipped over multiple quarters. The commitment of each one of our employees is paying off and once again we are generating record growth in new customer business. At the same time, existing customers are increasingly purchasing our products both in China and abroad.” Mr. Guangde Cai, Chairman of WETH, commented, “Geographically, sales from PRC increased by 206.3%, complemented by a 157.1% increase from overseas. Units sold increased by 145.6% to 711,548 touchscreens in the second quarter of 2021 from 289,668 units in the same period last year. Average selling price of our products also increased by 18.0% thanks to the increased sales of new models of higher-end products of such as touch screens used in gaming machine with higher selling price in domestic market during the three-month period ended June 30, 2021. As one of the leading manufacturers of medium to large sized projected capacitive touchscreens in China, we are confident that our exceptional products and services, as well as our constantly improved and expanded product offering, would enable us to gain market share and deliver long-term value for our shareholders."

Second Quarter 2021 Financial Results

Total Revenues. We generated revenue of $15.2 million and $5.3 million for the three months ended June 30, 2021 and 2020, respectively, an increase of $9.9 million, or 186.8%, compared to $5.3 million in the same period of last year. This was due to an increase of 145.6% in sales volume and of 18.0% in the average selling price of our products, and 9.7% positive impact from exchange rate due to appreciation of RMB against US dollars, compared with those of the same period of last year.

Gross Profit and Gross Profit Margin. Gross profit was $7.9 million in the second quarter ended June 30, 2021, compared to $2.7 million in the same period of 2020. Our gross profit margin increased to 51.9% for the second quarter ended June 30, 2021 as compared to 50.7% for the same period of 2020, primarily due to product mix shift to higher gross profit margin products such as POS touchscreens, gaming touchscreens, industrial control computer touchscreens and medical touchscreens.

Gain on Asset Disposal. Gain on asset disposal was $7.6 million for the six-month period ended June 30, 2021 compared to nil in the same period in 2020. Pursuant to local PRC government guidelines on local environment issues and the national overall plan, Sichuan Wetouch is under the government-directed relocation order to relocate no later than December 31, 2021 and received compensation accordingly. On March 18, 2021, pursuant to the agreement with the local government and an appraisal report issued by a mutual agreed appraiser, Sichuan Wetouch received compensation of RMB115.2 million ($17.8 million) for the withdrawal of the right to use of state-owned land and the demolition of all buildings, facilities, equipment and all other appurtenances on the land. During the six-month period ended June 30, 2021, the Company recorded a gain of $7,625,165 for the asset disposal.

Income Tax Expenses. Income tax expense was $1.9 million for the three-month periods ended June 30, 2021, as compared to $0.3 million in the same period a year ago. The effective income tax rates for the three-month periods ended June 30, 2021 and 2020 were 27.1% and 14.9%, respectively. The increase of the effective income tax rate was partially due to the increase of $0.6 million income tax clearance for Sichuan Wetouch for the year ended 2020.

Net Income. We had a net income of $5.1 million in the second quarter of 2021 compared to a net income of $2.0 million in the same quarter of 2020.

Basic and diluted EPS. Basic and diluted net income per share were $0.2, compared with $0.1 in the same period of 2020.

Cash and cash equivalents. As of June 30, 2021, our cash and cash equivalents were $52.6 million, as compared to $24.0 million at December 31, 2020.

[molee]

Some nice ask smacking coming in .. News ??

Stay safe >> M

[molee]

Redickulous trading .. Constant hits to ask , doesn't even blink ...

Stay safe >> M

[molee]

Hmmmm ... Wassup ?

Stay safe >> M

[rcaselli]

There is a much longer review process, of late. Just being realistic here.

Expecting. Great. Things.


WETH

[molee]

Thanks ,. I didn't look back far enough .

I can't imagine any "quiet period" lasts THIS long .

I just don't think Chinese companies realize communication with the public is important .

Stay safe >> M

[abrooklyn]

https://sec.report/Document/0001493152-20-024656/

[rcaselli]

It’s on Edgar from awhile back,
but don’t see it on OTC Markets.


WETH

[molee]

Where do you see that submitted ?

[rcaselli]

Quiet Period before the effective Reg A?



WETH

[molee]

Well , here we sit on our hands , waiting ....

Stay safe >> M

[molee]

Probably not as I found this :

"The Company sells its products primarily through direct customers in the PRC and to some extent, the overseas customers in European countries and East Asia such as South Korea and Taiwan ."

https://www.otcmarkets.com/filing/html?id=14981294&guid=ce4Ukqe4gPFihth

[Prinz18]

Could WETH be on Biden's China list?

[Welcome2Pinkyland]

Only the annual filing needs to be audited to stay listed on the QB

[rcaselli]

They’ve uplisted to attract a more affluent investor. And they seem to be executing good on strategic business/financial decisions.

BUT

Why is this not an AUDITED financial filing??



WETH

[molee]

Yes , I see that . The company still looks strong to me ...

[Prinz18]

Deduct $ 7.6m from $ 8.4m leaves you with net income of $ .8m (against $ 1.3m last year)!!!

[molee]

See what I'm saying ? All shares today bought at the ask $2.70 and it didn't even blink .

[Welcome2Pinkyland]

Not sure, but they need to come back

[Welcome2Pinkyland]

Basic and diluted EPS. Basic and diluted net income per share were $0.25. If $WETH does this for 4 q’s - estimated pps value would be between $10 and $30

[molee]

Last time financials came out there was a run up to 5 dolla .. remember ?

Where did those people come from and where did they go , I wonder ...

[Welcome2Pinkyland]

Probably no one is seeing the news except penny players