Wetouch Technology Inc. Files Q2 2024 10-Q

TL;DR

**Wetouch Tech (WTT) filed its Q2 10-Q on 8/19. Details on financials inside.**

AI Summary

Wetouch Technology Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, incorporated in Nevada, is based in Meishan City, Sichuan, China, with a principal executive office at No. 29, Third Main Avenue, Shigao Town, Renshou County. The filing was made on August 19, 2024, under SEC file number 001-41957.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Wetouch Technology Inc. during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing (10-Q) and does not inherently indicate new risks.

Key Numbers

• 001-41957 — SEC File Number (Identifies the company's filings with the SEC.)
• June 30, 2024 — Quarterly Period End (Marks the end of the reporting period for this 10-Q.)
• August 19, 2024 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Wetouch Technology Inc. (company) — Registrant
• June 30, 2024 (date) — Quarterly Period End Date
• August 19, 2024 (date) — Filing Date
• 001-41957 (company) — SEC File Number
• Nevada (jurisdiction) — State of Incorporation
• Meishan City, Sichuan, China (location) — Principal Executive Office Location

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share WETH Nasdaq Stock M

Filing Documents

• ea0211701-10q_wetouch.htm (10-Q) — 929KB
• ea021170101ex31-1_wetouch.htm (EX-31.1) — 11KB
• ea021170101ex31-2_wetouch.htm (EX-31.2) — 12KB
• ea021170101ex32-1_wetouch.htm (EX-32.1) — 5KB
• ea021170101ex32-2_wetouch.htm (EX-32.2) — 6KB
• image_001.jpg (GRAPHIC) — 46KB
• 0001213900-24-070737.txt ( ) — 5774KB
• weth-20240630.xsd (EX-101.SCH) — 53KB
• weth-20240630_cal.xml (EX-101.CAL) — 37KB
• weth-20240630_def.xml (EX-101.DEF) — 272KB
• weth-20240630_lab.xml (EX-101.LAB) — 459KB
• weth-20240630_pre.xml (EX-101.PRE) — 263KB
• ea0211701-10q_wetouch_htm.xml (XML) — 575KB

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 F-1 Condensed Consolidated Statements of Income and Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) F-2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) F-3 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) F-4 Notes to Condensed Consolidated Financial Statements F-5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 2 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 11 Item 4.

Controls and Procedures

Controls and Procedures 11 PART II OTHER INFORMATION 13 Item 1.

Legal Proceedings

Legal Proceedings 13 Item 1A.

Risk Factors

Risk Factors 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 14 Item 4. Mine Safety Disclosures 14 Item 5. Other Information 14 Item 6. Exhibits 15

Signatures

Signatures 16 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (the "Quarterly Report") contains "forward-looking statements" within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995. Forward-looking "intend," "plan," "believe," "estimate," "predict," "potential," "might," "could," "would," "should" or other words indicating future results, though not all forward-looking statements necessarily contain these identifying words. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements about our future business operations and results, our strategy and competition. These statements represent our current expectations or beliefs concerning various future events and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations, including, but not limited to: Our reliance on our top customers is significant. Failure to attract new customers or retain existing ones cost-effectively could materially and adversely impact our business, financial condition, and results of operations. We hold a substantial amount of accounts receivable, which may become uncollectible. Dismissing BF Borgers may cause significant expenses or delays in financings or SEC filings, affecting our stock price and market access. You are unlikely to collect judgments or exercise remedies against BF Borgers for their work as our auditor. We face fines and penalties from the Chinese government for not completing required filings . Our capacity to uphold the quality and safety standards of our products. Our ability to compete effectively within the touchscreen display industry. Without substantial additional fina

View Full Filing

View this 10-Q filing on SEC EDGAR