Wetouch Technology Inc.

Overview

Through its wholly owned subsidiaries, Wetouch Technology Inc. designs, develops, manufactures, sells and services medium- to large-sized projected capacitive touchscreens. Target markets include automotive, financial terminals, point of sale (POS), gaming, lottery, medical, industrial HMI, car navigation/entertainment, and other specialized applications.

Product offering

• Size range: 7 inches to 42 inches.
• Key panel structures:
  • GG (Glass-Glass): GPS/car entertainment, industrial HMI, financial/banking terminals, POS, lottery machines.
  • GFF (Glass-Film-Film): high-end GPS/entertainment, industrial HMI, financial/banking terminals, lottery, gaming.
  • PG (Plastic-Glass): GPS/entertainment, vehicle GPS, smart home, robotics, charging stations.
  • GF (Glass-Film): industrial HMI.
• Certifications: ISO 9001 (QMS), ISO 14001 (EMS), RoHS.
• Production approach: made-to-order with emphasis on long life, anti-interference, anti-corrosion, multi-touch capability, high light transmittance and stability.

Revenue and geography

• Revenue (year ended December 31):
  • 2025: approximately $45.1 million
  • 2024: approximately $42.3 million
• Domestic vs. international mix:
  • 2025: Domestic ~68.5%; International ~31.5%
  • 2024: Domestic ~64.7%; International ~35.3%
• Product mix (as of December 31, 2025):
  • GG: ~52.0%
  • GFF: ~42.0%
  • GF: ~2.0%
  • PG: ~4.0%
• Product mix (as of December 31, 2024):
  • GG: ~52.9%
  • GFF: ~40.7%
  • GF: ~1.9%
  • PG: ~4.4%

Customer concentration

• Top customers: five customers each accounted for more than 10% of revenues in both 2025 and 2024.
• 2025 top five revenue shares: 24.3%, 17.3%, 15.6%, 13.3%, 11.1% (total ~81.7%).
• 2024 top five revenue shares: 22.0%, 19.1%, 15.3%, 14.5%, 11.5% (total ~82.4%).

Markets and sales

• Primary markets: Mainland China and overseas markets in Europe and East Asia (including Germany, South Korea, Taiwan).
• Sales channels: direct sales by the company’s own sales personnel; no reliance on distributors.
• Marketing and expansion: participation in international touchscreen exhibitions; use of SEO, referrals, company websites, and direct outreach.

Corporate history and structure

• Incorporated in Nevada (originally Gulf West Investment Properties, Inc., 1992).
• Name change to Wetouch Technology Inc. effective September 30, 2020; trading symbol changed to WETH effective November 3, 2020.
• Reverse merger on October 9, 2020, with BVI Wetouch, resulting in current structure and ownership of Hong Kong Wetouch and Sichuan Wetouch/Sichuan Vtouch through a sequence of entities.
• Private placement on January 19, 2023: 160,000,000 shares sold for $40,000,000 (exempt from registration; transfer restrictions apply).
• 2024 uplisting: underwritten public offering of 2,160,000 shares at $5.00 per share; gross proceeds $10.8 million; net proceeds about $9.2 million; Nasdaq trading under WETH began February 21, 2024.
• Warrants issued in the 2024 uplisting: representatives’ warrants to purchase 43,200 shares at 125% of the offering price.
• Stock actions: 2020 1-for-70 reverse split; 2023 1-for-20 reverse split.

People, research and intellectual property

• Employees: 152 total.
• Research and development: 9 R&D employees; all hold at least a bachelor’s degree; average R&D experience of at least three years.
• CFO appointment: Xing Tang, July 2024.
• Intellectual property:
  • Five patent applications pending.
  • One registered trademark in Mainland China.

Facilities and capital programs

• Headquarters and operations: nine leased buildings in Shigao Town, Renshou County, Meishan City, Sichuan, China, totaling about 40,126.9 sq ft (office, R&D, manufacturing, warehouse).
• Current leases: office, manufacturing, and testing facilities with lease expirations around October 2026 (renewals anticipated).
• New facilities and land:
  • 131,010 sq ft land parcel in Tianfu Avenue, Youjiadu Community, Chengdu, Sichuan; land use rights purchased for RMB 3,925,234 (~$561,301) in 2021; certificate of land use rights expected in H1 2027.
  • Construction contract and schedule for a capacitive touchscreen and R&D base; extensions due to COVID-19; additional construction work completed in 2025.
  • Estimated capital expenditure for new facilities: RMB 253 million (~$36.2 million) with completion and production intended by late 2027 (subject to land use rights and financing).
  • Leaseback arrangement: compensation received (RMB 115.2 million, ~$16.5 million) and a leaseback with RMB 400,000 monthly rent to support interim operations.

Core business summary

Wetouch develops and delivers large-format projected capacitive touchscreens for specialized industries. The company operates a vertically integrated model with direct sales, focuses on long product life and environmental durability, maintains relevant quality certifications, and serves a concentrated customer base.