Wetouch Technology Inc 8-K, filed Apr 24, 2025
Wetouch Technology Inc. (WETH)
About this 8-K
Wetouch Technology Inc filed this 8-K on April 24, 2025, reporting on events of April 21, 2025.
Items reported
- Item 3.01: Delisting notice or listing transfer
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On April 21, 2025, Wetouch Technology Inc., a Nevada corporation (the “Company” or "Wetouch"), received a notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that because the Company had not yet filed its Form 10-K for the year ended December 31, 2024 (the “Form 10-K”), the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) requiring Nasdaq-listed companies to timely file all periodic financial reports with the Securities and Exchange Commission (the “SEC”). The Form 10-K was due on March 31, 2025. The Company filed a Notification of Late Filing on Form 12b-25 with the SEC on April 1, 2025, which extended the due date of the Form 10-K to April 15, 2025.
The Notice states that the Company has 60 calendar days, or until June 20, 2025 to submit a plan to regain compliance (the “Plan”). If Nasdaq accepts the Company’s Plan, then Nasdaq may grant the Company up to 180 calendar days from the Form 10-K filing due date, or until October 13, 2025, to file its Form 10-K to regain compliance. Any subsequent periodic filing that is due within the 180-day exception period must be filed no later than the end of the period.
If Nasdaq does not accept the Company’s Plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The Notice has no immediate effect on the listing or trading of the Company’s common stock on Nasdaq.
The Company is working diligently to complete its Form 10-K and plans to file its Form 10-K as promptly as practicable to regain compliance with the Listing Rule.
Item 7.01 Regulation FD Disclosure.
The information contained in Item 3.01 of this Current Report on Form 8-K is incorporated herein by reference.
On April 24, 2025, the Company issued a press release in accordance with Nasdaq Listing Rule 5810(b) announcing that the Company had received the Notice. A copy of the press release is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, which is incorporated into this Item 7.01, is being furnished pursuant to Item 7.01 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act, as amended, or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
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Forward-Looking Statements
This filing contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook," "objective" and similar terms. These forward-looking statements include, but are not limited to, the expected filing of its Form 10-K and ability to regain compliance under the Nasdaq listing rule. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond Wetouch's control, which may cause Wetouch's actual results, performance or achievements (including the RMB/USD value of its anticipated benefit to Wetouch as described herein) to differ materially and in an adverse manner from anticipated results contained or implied in the forward-looking statements. For example, there can be no assurance that the Company will regain compliance with the Listing Rule during any compliance period or in the future, or otherwise meet Nasdaq compliance standards. Further information regarding these and other risks, uncertainties or factors is included in Wetouch's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. Wetouch does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |
| 99.1 | Press Release dated April 24, 2025 entitled, “Wetouch Announces Receipt of Nasdaq Notification of Non-Compliance Regarding Delayed 2024 Form 10-K Filing” | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WETOUCH TECHNOLOGY INC. | ||
| Date: April 24, 2025 | By: | /s/ Zongyi Lian |
| Name: | Zongyi Lian | |
| Title: | President and Chief Executive officer | |
| (Principal Executive Officer) | ||
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Exhibit 99.1
Wetouch Announces Receipt of Nasdaq Notification of Non-Compliance Regarding Delayed 2024 Form 10-K Filing
Chengdu, China, April 24, 2025 – Wetouch Technology Inc. (Nasdaq: WETH) (“Wetouch” or the “Company”) today announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), dated April 21, 2025, indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1). This rule requires timely filing of periodic reports with the U.S. Securities and Exchange Commission (the “SEC”).
The notification was issued because the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “Form 10-K”). This delay triggered the non-compliance notice under the continued listing requirements.
In accordance with Nasdaq's procedures, the Company has 60 calendar days from the date of the letter, or until June 20, 2025, to submit to Nasdaq a plan to regain compliance. If Nasdaq accepts the plan, Wetouch may be granted up to 180 calendar days from the original due date of the Form 10-K, or until October 13, 2025, to file the Form 10-K and thereby regain compliance.
The Company intends to file the Form 10-K as soon as practicable thereafter, and expects to regain compliance within the allowed timeframe.
There is no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market as a result of this notification.
About WeTouch Technology Inc.:
Wetouch Technology Inc. is a leading provider of high-quality touch display solutions, committed to revolutionizing human-machine interaction across various industries. With a focus on innovation and customer satisfaction, Wetouch delivers cutting-edge technology and unmatched performance in touch display solutions worldwide.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook," "objective" and similar terms. These forward-looking statements include, but are not limited to, the expected filing of its Form 10-K and ability to regain compliance under the Nasdaq listing rule. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond Wetouch's control, which may cause Wetouch's actual results, performance or achievements (including the RMB/USD value of its anticipated benefit to Wetouch as described herein) to differ materially and in an adverse manner from anticipated results contained or implied in the forward-looking statements. For example, there can be no assurance that the Company will regain compliance with the Nasdaq listing rule during any compliance period or in the future, or otherwise meet Nasdaq compliance standards. Further information regarding these and other risks, uncertainties or factors is included in Wetouch's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. Wetouch does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
For more information, please contact:
Horizon ResearchManagement Consultancy
Michael Wei,
Email: hwey@horizonconsultancy.co