Letter from WeTouch Technology Inc. CEO Zongyi Lian to shareholders

CHENGDU, China, June 24, 2024 /PRNewswire/ — WeTouch Technology Inc., (NASDAQ: WETH) (“WeTouch” or the “Company”), a leading innovator in the global touch screen industry, today released CEO Zongyi Lian’s Letter to Shareholders Strong Position Financial and Future Prospects of the company.

Dear Fellow Shareholders,

I hope this letter finds you well. I’m writing to share some exciting updates and reaffirm Wetouch Technology’s strong financial health and promising future.

First of all, I am pleased to inform you that our company’s financial situation is very solid. In our latest balance sheet, Wetouch Technology has a substantial cash reserve of

US$94.8 million USD. This strong cash position provides us with significant margin and ample opportunities for strategic investments and growth.

In addition to our solid financial foundation, Wetouch Technology is proud to have established relationships with a list of renowned global clients. Our valued partners include industry leaders such as Siemens in

GermanyDelta and Weinview in Taiwan area, and Canon and Sharp in Japan. These partnerships are proof of the quality and reliability of our products and services.

Additionally, we have made significant advances in product development. Our next generation of products not only demonstrates our innovative capabilities, but also promises impressive financial returns. These new products are expected to produce more than

50% profits compared to the first generation, positioning us well for continued growth and success.

Given these solid foundations, we believe Wetouch Technology is currently undervalued. We are considering several actions to ensure that the true value of our company is recognized and reflected in the market. These actions aim to increase value for our shareholders and investors by ensuring that our market valuation accurately represents our financial strength and growth potential.

We remain committed to generating long-term value and appreciate your continued trust and support. Together, we can look forward to a prosperous future for Wetouch Technology.

Yours sincerely,

Zongyi Lian
CEO
WeTouch Technology Inc.

About WeTouch Technology Inc.

is at the forefront of providing premium touch display solutions, dedicated to reshaping human-machine interaction across diverse industries. With a relentless focus on innovation and customer satisfaction, Wetouch consistently delivers cutting-edge technology and unmatched performance in touchscreen solutions around the world.

For additional information, visit: WeTouch Technology Inc.at

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

US 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,” ” esteem”, “goal”, “hereafter”, “perspectives”, “objective” and similar terms. Such statements are based on management’s current expectations and current market and operating conditions, and relate to events involving known or unknown risks, uncertainties and other factors, all of which are difficult to predict and which are beyond the control of Datasea, which could cause Datasea’s actual results, performance or achievements (including the RMB/USD value of your anticipated benefit to Datasea as described herein) to differ materially and adversely from the anticipated results contained in or implied by the forward-looking statements. Additional information about these and other risks, uncertainties or factors is included in Datasea’s records with the US Securities and Exchange Commission, which are available at www.sec.gov. Datasea undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

Contact with investors and media:

Horizon Research Management Consulting
Michael Wei,
Email: hwey@horizonconsultancy.co

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SOURCE Wetouch Technology Inc.