Euro Tech Holdings Company Limited (CLWT) reports developments tied to its technology-instrument distribution, manufacturing, and environmental engineering businesses. The company markets and trades water and wastewater process-control, analytical and testing instruments, disinfection equipment, related automation systems, laboratory supplies, power generation equipment, and Ballast Water Treatment Systems.
Recurring news centers on annual and interim operating results, revenue trends in trading activities, engineering activity in water and wastewater treatment, gross margin changes, expense controls, and share repurchase programs. Updates also discuss business conditions affecting sales of U.S. products to China, demand for analytical instruments, and the performance of wastewater treatment and air-pollution-control related engineering work, with Hong Kong identified as a major revenue geography.
Euro Tech Holdings Company Limited (Nasdaq: CLWT) reported its 1H 2020 financial results, revealing a net income of approximately US$869,000 compared to a net loss of US$280,000 in 1H 2019. The profit was boosted by a non-recurrent net gain on property disposal of US$1,429,000. However, revenues declined by 35.1% to US$5,718,000 due to COVID-19 and regional tensions. Operating loss rose by 52.5% to approximately US$726,000, driven by reduced revenues. The company remains optimistic about its Ballast Water Treatment Systems business amidst ongoing challenges.
Euro Tech Holdings Company Limited (Nasdaq: CLWT) has secured a US$440,000 contract for a ballast water port solution system, set for completion by year-end. This project, addressing IMO compliance, marks the company's pioneering role in commercial ballast water treatment in the Asia Pacific. The system, capable of treating 1,000 cubic meters per hour, is expected to enhance business positioning in China and attract further opportunities. The company is also on track to receive revised G8 type approval certification in October 2020.