Nov. 12 at 3:09 PM
$WETH Wetouch Technology Net Income Rises 23.7% in First Nine Months of Fiscal 2025
Wetouch Technology Inc. reported total revenue of
$39.9 million for the first nine months of fiscal year 2025, a 3.4% increase from
$38.6 million in the same period of 2024. Gross profit rose 8.7% to
$13.7 million, while net income increased 23.7% year-over-year to
$7.3 million. Operating cash flow was positive at
$8.5 million, compared to negative
$0.7 million a year ago. Cash reserves reached
$113.2 million, or approximately
$9.5 per share. Shareholders' equity rose 4.8% to
$135.2 million. Revenue in China grew 9.7% year-over-year, driven by the automotive and industrial touchscreen sectors, while overseas revenue declined 7.9% due to weaker demand in medical and gaming segments. The company reported progress on its Chengdu facility, scheduled for completion by the end of 2025, with mass production expected in the second quarter of 2026.
