Euro Tech Holdings Co Ltd Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Euro Tech Holdings Co Ltd filed its 20-F for the fiscal year ending December 31, 2023, detailing its operations in environmental protection equipment and services.</b>

AI Summary

EURO TECH HOLDINGS CO LTD (CLWT) filed a Foreign Annual Report (20-F) with the SEC on April 30, 2024. Euro Tech Holdings Co Ltd operates in the marketing and trading of water and waste water related process control instruments, disinfection equipment, and automation systems. The company's business activities also include design, general contract, installation, and operating management of environmental protection projects. Manufacturing of analytical and testing equipment, environmental protection equipment, and related installation services are key operational areas. The company is involved in the sale of environmental protection equipment and provides technology advice, training, and services. Euro Tech Holdings Co Ltd is incorporated in the British Virgin Islands and its fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking EURO TECH HOLDINGS CO LTD, this filing contains several important signals. The filing provides a comprehensive overview of Euro Tech's business segments, including manufacturing, trading, and project management in the environmental sector, which is crucial for understanding its revenue streams and market position. As a company operating in the environmental protection industry, the 20-F filing is essential for investors to assess its compliance, growth potential, and risks associated with environmental regulations and market demand.

Risk Assessment

Risk Level: medium — EURO TECH HOLDINGS CO LTD shows moderate risk based on this filing. The company's operations are heavily reliant on the environmental protection sector, which is subject to evolving regulations and market demand, posing a medium-term risk to its business stability and growth prospects.

Analyst Insight

Investors should review the detailed breakdown of revenue segments and geographical operations within the filing to assess the company's performance and future outlook.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-30 — Filing Date (Filed as of date)
• 0001026662 — Central Index Key (Company identifier)
• 5040 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• EURO TECH HOLDINGS CO LTD (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240430 (date) — Filed as of date
• 0001026662 (company) — Central Index Key
• HONG KONG (location) — Business address city
• BRITISH VIRGIN ISLANDS (location) — Mail address state
• PRC (location) — Country of operations
• CLWT (ticker) — Ticker symbol

FAQ

Risk Factors

• Market Demand and Competition [medium — market]: The company's success depends on the demand for environmental protection equipment and services, facing competition from domestic and international players.
• Environmental Regulations [medium — regulatory]: Changes in environmental laws and regulations in the PRC and other operating regions could impact the company's business and profitability.
• Supply Chain and Manufacturing [low — operational]: Disruptions in the supply chain or manufacturing processes could affect the company's ability to deliver products and services on time.

Key Financial Figures

• $ — ain their books and records either in US$, Hong Kong dollars ("HK$" or "Hong Kong
• $1 — 684 RMB, 6.9061 RMB and 6.3757 RMB to US$1.00, respectively, and at 7.8000 HKD, 7.

Filing Documents

• clwt_20f.htm (20-F) — 3179KB
• clwt_ex81.htm (EX-8.1) — 2KB
• clwt_ex121.htm (EX-12.1) — 11KB
• clwt_ex122.htm (EX-12.2) — 9KB
• clwt_ex131.htm (EX-13.1) — 4KB
• clwt_ex132.htm (EX-13.2) — 4KB
• clwt_20fimg4.jpg (GRAPHIC) — 23KB
• clwt_20fimg5.jpg (GRAPHIC) — 3KB
• clwt_20fimg3.jpg (GRAPHIC) — 19KB
• 0001654954-24-005302.txt (&nbsp;) — 13387KB
• clwt-20231231.xsd (EX-101.SCH) — 111KB
• clwt-20231231_lab.xml (EX-101.LAB) — 531KB
• clwt-20231231_cal.xml (EX-101.CAL) — 44KB
• clwt-20231231_pre.xml (EX-101.PRE) — 597KB
• clwt-20231231_def.xml (EX-101.DEF) — 517KB
• clwt_20f_htm.xml (XML) — 2685KB

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS 3 GLOSSARY 4 PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE ITEM 3. KEY INFORMATION 5 ITEM 4. INFORMATION ON THE COMPANY 34 ITEM 4A. UNRESOLVED STAFF COMMENTS 54 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 54 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 63 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 71 ITEM 8. FINANCIAL INFORMATION 71 ITEM 9. THE OFFER AND LISTING 72 ITEM 10. ADDITIONAL INFORMATION 73 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 80 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 80 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 81 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITYHOLDERS AND USE OF PROCEEDS 81 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 81 ITEM 16. [RESERVED] 82 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 82 ITEM 16B. CODE OF ETHICS 82 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 83 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEE 83 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY ISSUER AND AFFILIATED PURCHASERS 83 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 84 ITEM 16G. CORPORATE GOVERNANCE 84 ITEM 16H. MINE SAFETY DISCLOSURE 84 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 88 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 88 ITEM 19. EXHIBITS 89 2 Table of Contents INTRODUCTION In this Form 20-F, references to "us", "we", the "Company" and "Euro Tech" are to Euro Tech Holdings Company Limited and its subsidiaries unless otherwise expressly stated or the context otherwise requires.

Forward Looking Statements

Forward Looking Statements This annual report contains forward looking statements. Additional written or oral forward looking statements may be made by the Company from time to time in filings with the Commission or otherwise. Such forward looking statements are within the meaning of that term in Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). Such statements may include, but not be limited to, projections of revenues, income, or loss, capital expenditures, plans for future operations, financing needs or plans, and plans relating to products or services of the Company, as well as assumptions relating to the foregoing. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward looking statements, which speak only as of the date the statement was made. Forward looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward looking statements. These forward-looking statements include, but are not limited to, statements about: our goals, business plans and growth strategies; our expectations regarding demand for and market acceptance of the products we distribute; competition in our industries; our future business development, results of operations and financial condition; expected changes in our revenues and certain cost and expense items and our margins; government policies and regulations relating to our corporate structure, business and industry; the regulatory environment in which we operate in China and globally; our ability to comply with the continued listing standards on the exchange or trading market on which our ordinary shares is listed for trading; the impact of the COVID-19 pandemic; general economic and business condition in China and elsewhere; the impact of the Russian-Ukraine conflicts;

KEY INFORMATION

ITEM 3. KEY INFORMATION China Section Our Corporate Structure As an investor, you hold an interest in Euro Tech Holdings Company Limited (the "Company" or "Euro Tech"). Euro Tech is a British Virgin Islands holding company and not an operating company. As a holding company with no material operations of its own, Euro Tech conducts its operations through its subsidiaries incorporated in Hong Kong, mainland China and the British Virgin Islands. As an investor, you directly hold an interest in Euro Tech, but you do not directly hold equity interest in Euro Tech's subsidiaries, i.e., the operating companies of the Company's business, and this structure involves risks to you. The Company has one 100% owned subsidiary in Hong Kong, namely, Euro Tech (Far East) Limited (referred to hereinafter as " Far East "). Far East engages in the marketing and trading of water and waste water treatment related process control, analytical and testing instruments, disinfection equipment, supplies and related automation systems. Far East has two 100% owned subsidiaries in mainland China, both of which are no longer in active business operations. One of such subsidiaries is Euro Tech Trading (Shanghai) Limited (referred to hereinafter as " ETTS "), which ceased its active business operations in 2021. The other one of such subsidiaries is Shanghai Euro Tech Limited (referred to hereinafter as " SET "), which ceased its active business operations in September, 2022. Other than these two companies, Far East does not have any other 100% subsidiaries. Far East holds 58% of the total equity of Yixing Pact Environmental Technology Co., Ltd., a company incorporated in mainland China (referred to hereinafter as " Yixing "), and Pact Asia Pacific Limited, a company incorporated in the British Virgin Islands (referred to hereinafter as " Pact "), respectively. Yixing focuses on the design, manufacturing and operation of water and waste water treatment machinery and equipment, and Pact fo

View Full Filing

View this 20-F filing on SEC EDGAR