Wetouch Technology, trading under the ticker (WETH, Financial), has been notified by the Nasdaq Listing Qualifications Department that it has fallen out of compliance with Listing Rule 5250(c)(1). The issue arises from the company's failure to file its Annual Report on Form 10-K for the fiscal year ending December 31, 2024, with the U.S. Securities and Exchange Commission in a timely manner.
The notification, dated April 21, 2025, outlines that Wetouch must adhere to Nasdaq's procedures to avoid potential delisting. Consequently, Wetouch has until June 20, 2025, to submit a corrective plan to Nasdaq. Should Nasdaq approve this plan, the company could be granted an extension until October 13, 2025, to file the necessary report and regain compliance.
Wetouch has expressed its commitment to rectify the situation and intends to file the overdue Form 10-K as soon as possible. The company is optimistic about meeting the compliance requirements within the stipulated timeframe.
