CHENGDU, China, July 8, 2024 /PRNewswire/ — Wetouch Applied sciences Inc. (NASDAQ: WETH) (“Wetouch” or the “Company”), a chief innovator within the world contact show trade, lately introduced a keep buyback program to repurchase as much as $15 million of the Corporate’s ordinary keep.
Beneath this system, the Corporate is permitted to repurchase its stocks from era to era within the unmistakable marketplace or in privately negotiated transactions. The timing and quantity of any repurchases relies on a lot of components, together with value, buying and selling quantity, normal marketplace statuses, and alternative company issues. The repurchase program does now not obligate the Corporate to repurchase any particular collection of stocks and could also be suspended, changed, or discontinued at any era with out prior understand.
“We are pleased to announce this stock buyback program, which reflects our confidence in the strong and growing business of Wetouch,” mentioned Zongyi Lian, CEO of Wetouch Applied sciences Inc. “With over $90 million in cash and nearly $8 per share in cash, however the market capitalization is less than $30 million, we believe our stock is significantly undervalued. This buyback program represents an attractive opportunity to return value to our shareholders.”
About WeTouch Generation Inc.
Wetouch Generation Inc. is at the vanguard of offering top rate contact show answers, devoted to reshaping human-machine interplay throughout various industries. With a constant focal point on innovation and buyer delight, Wetouch persistently delivers state-of-the-art generation and remarkable efficiency in contact show answers globally.
For alternative knowledge, please talk over with: WeTouch Generation Inc.at http://en.usa-wetouch.com/
Cautionary Observe Relating to Ahead-Having a look Statements
This press reduce incorporates forward-looking statements inside the which means of Division 21E of the Securities Alternate Occupation of 1934 and as outlined within the U.S. Personal Securities Litigation Reform Occupation of 1995. Those forward-looking statements may also be known by means of terminology equivalent to “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, “target”, “going forward”, “outlook,” “objective” and related phrases. Such statements are based totally upon control’s wave expectancies and wave marketplace and running statuses, and relate to occasions that contain identified or unknown dangers, uncertainties and alternative components, all of that are tough to are expecting and that are past Wetouch’s regulate, which would possibly motive Wetouch’s original effects, efficiency or achievements (together with the RMB/USD worth of its expected receive advantages to Wetouch as described herein) to range materially and in an adversarial approach from expected effects contained or implied within the forward-looking statements. Additional knowledge relating to those and alternative dangers, uncertainties or components is incorporated in Wetouch’s filings with the U.S. Securities and Alternate Fee, that are to be had at www.sec.gov. Wetouch does now not adopt any legal responsibility to replace any forward-looking commentary on account of fresh knowledge, life occasions or in a different way, with the exception of as required underneath regulation.
For more info, please touch:
Horizon Analysis Control Consultancy
Michael Wei,
Electronic mail: [email protected]
SOURCE Wetouch Generation Inc.
