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CHENGDU, CHINA - Wetouch Technology Inc. (NASDAQ:WETH), a touchscreen manufacturer with $41.02 million in trailing twelve-month revenue, has received a notice from Nasdaq indicating non-compliance with listing requirements due to its failure to file its quarterly report for the period ended June 30, 2025.
The notice, received on August 21, cited the company’s violation of Nasdaq Listing Rule 5250(c)(1). This latest delinquency adds to Wetouch’s previously disclosed delays in filing its 2024 annual report and Q1 2025 quarterly report.
Nasdaq had already granted Wetouch an exception until October 13, 2025, to file these delinquent reports. Under Nasdaq rules, the maximum extension period is limited to 180 calendar days from the due date of the initial delinquent filing, which coincides with the October 13 deadline.
The touchscreen manufacturer must submit an updated compliance plan to Nasdaq by September 5, outlining its strategy for filing the Q2 report and providing progress updates on completing the other overdue filings.
According to the company’s statement, the notification does not immediately affect the listing or trading of Wetouch’s common stock on the Nasdaq Capital Market. InvestingPro data shows the stock trading at significant discounts with a P/E ratio of 4.82 and a price-to-book ratio of 0.08, suggesting potential undervaluation despite recent challenges.
Wetouch stated it is "working diligently" with its auditors and advisors to complete and file the delinquent reports "as soon as practicable" to regain compliance with Nasdaq’s continued listing requirements.
The company manufactures and supplies large-format touchscreens, according to the press release statement.
In other recent news, Wetouch Technology Inc. has appointed ST & Partners PLT as its new independent registered public accounting firm. This decision was made by the company’s Audit Committee and became effective immediately. The company clarified that during the fiscal years 2023 and 2024, and through June 2025, there were no consultations with ST & Partners PLT regarding accounting principles or audit opinions. Additionally, Wetouch Technology has received a compliance extension from Nasdaq until October 13, 2025. This extension pertains to the filing of overdue annual and quarterly reports. Nasdaq accepted Wetouch’s compliance plan concerning the delayed filing of its Form 10-K for the year ended December 31, 2024, and Form 10-Q for the quarter ended March 31, 2025. These developments are part of the company’s ongoing efforts to maintain regulatory compliance.
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