伟大奇科技 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31,2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to __________ Commission file number:001-41957 WETOUCH TECHNOLOGY INC.(Exact name of registrant as specified in its charter) Registrant’s telephone number, including area code:(86)28-37390666 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregistered Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) Yes☐No☒ As ofOctober, 07, 2025, there were11,931,534shares of the registrant’s common stock, par value $0.001 per share, issuedand outstanding. WETOUCH TECHNOLOGY INC.QUARTERLY REPORT ON FORM 10-Q TABLE OF CONTENTS Cautionary Note Regarding Forward Looking StatementsiiPART IFINANCIAL INFORMATIONItem 1.Financial Statements1Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 (Unaudited)F-1Condensed Consolidated Statements of Income and Comprehensive Income (Loss) for the Three MonthsEnded March 31 2025 and 2024 (Unaudited)F-2Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March31, 2025 and 2024 (Unaudited)F-3Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024(Unaudited)F-4Notes to Condensed Consolidated Financial StatementsF-5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations2Item 3.Quantitative and Qualitative Disclosures About Market Risk9Item 4.Controls and Procedures9PART IIOTHER INFORMATION12Item 1.Legal Proceedings12Item 2.Unregistered Sales of Equity Securities and Use of Proceeds12Item 3.Defaults Upon Senior Securities12Item 4.Mine Safety Disclosures12Item 5.Other Information12Item 6.Exhibits13Signatures14 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (the “Quarterly Report”) contains “forward-looking statements” within the meaning of Section27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be preceded by, or contain, words such as “may,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,”“estimate,” “predict,” “potential,” “might,” “could,” “would,” “should” or other words indicating future results, though not allforward-looking statements necessarily contain these identifying words. All statements other than statements of historical fact arestatements that could be deemed forward-looking statements, including, without limitation, statements about our future businessoperations and results, our strategy and competition. These statements represent our current expectations or beliefs concerning variousfuture 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 couldmaterially and adversely impact our business, financial condition, and results of operations.●We hold a substantial amount of accounts receivable, which may become uncollectible.●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 touc