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 Company Limited (NASDAQ: CLWT) generates a steady flow of company-specific news centered on environmental engineering, water and wastewater treatment, and ballast water treatment systems. Its announcements provide insight into trading and manufacturing activities, engineering contracts, and developments in ballast water solutions for the maritime industry.
News releases frequently cover financial results, including interim and year-end performance, with segment details for trading and manufacturing and engineering operations. These updates highlight trends in revenue, gross profit, and equity in income of affiliates, and discuss how factors such as tariffs, economic conditions in China, and changes in demand for analytical instruments and engineering services affect the business.
Another key category of CLWT news involves engineering and project awards. The company reports contracts won by its majority-owned subsidiary, Yixing PACT Environmental Technology Company Ltd., for projects such as sewage and potable water treatment at a uranium mining site in Mongolia, industrial wastewater treatment for a pharmaceutical plant in Qingdao, and ballast water treatment port reception systems for state-owned enterprises in China. These releases outline project scope, including design, supply, fabrication, installation or commissioning, and expected completion timelines.
Euro Tech also issues news on ballast water treatment systems (BWTS), including regulatory compliance details, growth in BWTS orders, and strategic partnerships. Notably, the company has reported an exclusive sales distribution and OEM partnership between PACT and ERMA FIRST ESK Engineering Solutions S.A. in Greece, focused on BWTS distribution in 20 European countries.
Additional announcements address capital allocation and corporate actions, such as a special cash dividend authorization and a stock repurchase program approved by the board of directors. For investors and observers following CLWT, this news page provides a consolidated view of Euro Tech’s financial disclosures, contract wins, maritime-related initiatives, and shareholder-focused decisions.
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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.
Euro Tech Holdings Company Limited (Nasdaq: CLWT) reported a challenging first half of 2022, with revenues falling by 33.1% to US$6,730,000, compared to US$10,054,000 in the same period last year. This decline was primarily driven by strict COVID-19 lockdown measures in China and Hong Kong. Gross profits also decreased by 37.5%, totaling US$1,888,000. The company incurred a net loss of US$184,000, contrasting with a net income of US$490,000 in the previous year. Despite these challenges, there is optimism for future sales, particularly in Ballast Water Treatment Systems.
Euro Tech Holdings Company Limited (CLWT) announced a special cash dividend of $0.06 per ordinary share, payable on June 23, 2022, to shareholders of record as of June 13, 2022. Shareholders will automatically receive the dividend without needing action, credited through brokerage accounts. American Stock Transfer and Trust LLC is the appointed paying agent for this dividend. The Company issued a caution regarding forward-looking statements, highlighting compliance with NASDAQ requirements, and encourages shareholders to consult risk factors detailed in SEC filings.
Euro Tech Holdings Company Limited (Nasdaq: CLWT) announced on May 27, 2022, an update on its status under the Holding Foreign Companies Accountable Act (HFCAA). The SEC provisionally identified Euro Tech as a Commission-Identified Issuer on May 20, 2022, due to the inability of the PCAOB to fully inspect its registered public accounting firm's working papers for the fiscal year ended December 31, 2021. If this status continues for three consecutive years, the company risks delisting from Nasdaq. Euro Tech emphasizes its commitment to compliance and maintaining its listing status.
Euro Tech Holdings Company Limited (Nasdaq: CLWT) announced its financial results for the year ended December 31, 2021. The company reported a net income of US$989,000, up from US$769,000 in the previous year, driven by a significant revenue increase of 60.1% to US$21,388,000, attributed to Ballast Water Treatment Systems (BWTS) sales. Gross profits rose 54.5% to US$5,695,000, while selling and administrative expenses decreased 8.6%, showcasing operational efficiency. The company aims to expand into Southeast Asia and optimize BWTS applications amid ongoing challenges from COVID-19.
Euro Tech Holdings Company Limited (NASDAQ: CLWT) has announced the appointment of David YL Leung as the new Chief Executive Officer (CEO), effective February 1, 2022. David, currently a Director, brings significant experience in the Ballast Water Treatment sector and has held key roles within the company since 2011. TC Leung will transition to Chairman of the Board, continuing his support in a non-executive capacity. This planned leadership change aims to strengthen the management team as the company embarks on new business growth opportunities.
Euro Tech Holdings Company Limited (NASDAQ: CLWT) announced the issuance of bonus shares, with shareholders receiving one ordinary share for every two shares held. The bonus shares are slated for issuance on January 21, 2022, to shareholders of record as of January 7, 2022. No action is required from shareholders to receive these bonus shares, as they will be credited automatically to brokerage accounts. American Stock Transfer and Trust Company, LLC will administer the issuance of the bonus shares.
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