WeTouch Announces First Quarter Fiscal Year 2024 Financial Results with Cash Reserves of $94.8 Million
First Quarter Fiscal Year 2024 Revenue Reaches $14.9 Million, Marking an 11.2% Increase from 1Q 2023
CHENGDU, China, June 17, 2024 /PRNewswire/ -- WeTouch Technology Inc., (NASDAQ:WETH) ("WeTouch" or the "Company"), a leading innovator in the global touch display industry, today announced its financial results for the first quarter ended March 31, 2024.
"We achieved higher revenue in the first quarter of fiscal 2024 by aggressively promoting our high-end products. Although our cost of goods sold increased due to the export controls imposed by the U.S. Department of Commerce on advanced computing and semiconductor manufacturing to China, we expect the procurement costs of chips and other raw
