Welcome to our dedicated page for Euro Tech Holdings Co news (Ticker: CLWT), a resource for investors and traders seeking the latest updates and insights on Euro Tech Holdings Co stock.
Euro Tech Holdings Co Ltd (CLWT) delivers innovative environmental solutions for water treatment and maritime compliance. This news hub provides investors and industry professionals with direct access to official announcements, strategic developments, and regulatory updates from the Nasdaq-listed company.
Track critical updates including ballast water treatment system deployments, engineering project milestones, and international market expansions. Our curated feed covers earnings reports, technology partnerships like the ERMA FIRST collaboration, and compliance achievements related to IMO standards.
Stay informed about CLWT's progress in addressing global water scarcity challenges and maritime environmental regulations. Bookmark this page for real-time updates on the company's engineering services, equipment innovations, and sustainability initiatives across Asia and Europe.
Euro Tech Holdings Company (Nasdaq: CLWT) announced that its majority-owned subsidiary, Yixing PACT Environmental Technology Company ("PACT"), has secured two contracts worth approximately US$2.2 million in total.
One contract involves providing a turnkey industrial water treatment solution for a UK pharmaceutical company's inhalation aerosols manufacturing plant in Qingdao, China. This project is slated for completion by June 2026.
The second contract is for a Ballast Water Treatment port reception system for a Chinese state-owned shipping and logistics company at a harbor port on Hainan Island, expected to be completed by June 2025.
Both contracts include design, supply, fabrication, installation, and commissioning at the respective sites.
The company highlighted potential risks, including uncertainties in business conditions, competition, vendor dependence, and market dynamics. Investors are advised to review the
Euro Tech Holdings (Nasdaq: CLWT) has announced a significant stock repurchase program approved by its Board of Directors. The program authorizes the repurchase of up to 350,000 shares of its issued and outstanding ordinary shares, with an aggregate purchase price cap of $500,000.
The company will have the flexibility to execute these repurchases through open market transactions or negotiated/block trades over the next 12 months. The Board expressed strong confidence in the company's future, stating that the current stock price does not reflect their expectations and trades significantly below the company's net asset value per share.
Euro Tech Holdings (Nasdaq: CLWT) reported its financial results for H1 2024, showing a revenue decrease of 8.8% to US$7,259,000 compared to H1 2023, primarily due to reduced engineering activities. Despite this, gross profit increased by 19.5% to US$1,790,000, and the company turned a net loss of US$255,000 in H1 2023 into a net income of US$44,000.
The company's industrial wastewater treatment business faced challenges due to China's economic slowdown, while its Ballast Water Treatment Systems (BWTS) business showed steady growth in China and overseas, particularly in Turkey. To expand international presence, CLWT established a majority-owned Singapore entity, PACT Environmental Technology PTE , aiming to better support overseas clients and increase international tender opportunities.
Euro Tech Holdings Company (CLWT) has declared a special cash dividend of $0.08 per ordinary share. The dividend will be paid on June 27, 2024, to shareholders of record as of June 13, 2024. Shareholders do not need to take any action to receive this dividend. It will be credited directly to brokerage accounts where the shares are held. Equiniti Trust Company has been appointed as the paying agent for the dividend distribution and can be contacted for any questions.
Euro Tech Holdings Company (CLWT) reported strong financial results for Fiscal 2023, with a significant increase in net income and revenues. The company saw a surge in sales orders for Ballast Water Treatment Systems (BWTS) from the maritime industry, expanding sales networks globally. Despite a decrease in gross profits due to economic slowdown and pandemic impacts, the company remains optimistic about future growth opportunities, especially in Europe and Southeast Asia.
Euro Tech Holdings Company Limited (Nasdaq: CLWT) announced a stock repurchase program approved by its Board of Directors. The program allows for the repurchase of up to 230,000 ordinary shares, with a maximum aggregate purchase price of $300,000. This initiative will take place over the next 12 months and may involve open market purchases or negotiated transactions, depending on market and business conditions. The Company believes the current stock price does not reflect its future potential or its net asset value per share, indicating confidence in the Company's financial outlook. These moves are positioned to enhance shareholder value.
Euro Tech Holdings Company Limited (NASDAQ: CLWT) announced the appointment of J&S Associate as its independent registered public accounting firm to audit the consolidated financial statements for the fiscal year ending December 31, 2022. This strategic move, approved by the Audit Committee and Board of Directors, ensures compliance with the U.S. Holding Foreign Companies Accountable Act (HFCAA). The engagement of J&S is expected to facilitate the removal of Euro Tech from the SEC's HFCAA issuer list, mitigating potential delisting risks. J&S, a Malaysia-based firm, brings 25 years of experience to the audit process.
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