Euro Tech Holdings Company Ltd
What Do They Do?
Distributes water-treatment equipment, laboratory instruments and analyzers to commercial and government customers, and provides industrial water and wastewater engineering solutions to manufacturers.
20-F for FY2025, filed Apr 30, 2026
How Do They Make Money?
The company sells trading and manufactured products under short-term contracts; engineering customers are billed as agreed milestones or customer-certified stages of work are completed.
20-F for FY2025, filed Apr 30, 2026Our revenue is derived from both short and long-term contracts for customers in our engineering segment, as well as short-term contracts…View ↗
If the Group expects the reference to progress certificates issued by the customers, with additional adjustments where necessary, depicts…View ↗
Year ended December 31, 2025 2024 2023 US$’000 US$’000 US$’000 Revenue Trading and manufacturing (revenue recognized at point in time)…View ↗
-
20-F for FY2025, filed Apr 30, 2026
FY2025 revenue by product or service ↗
$13.3M
-
20-F for FY2025, filed Apr 30, 2026
$13.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Trading and Manufacturing
Sold outright
20-F for FY2025, filed Apr 30, 2026 |
56%
FY2022: 62%
|
Trading and Manufacturing, FY2025
$7.4M Sources
|
Sold outright |
|
[Engineering 2]
Recurring
20-F for FY2025, filed Apr 30, 2026 |
44%
FY2022: 38%
|
[Engineering 2], FY2025
$5.9M Sources
|
Recurring |
Who Are Their Customers?
Its product sales team works directly with commercial buyers and government and institutional customers; Pact-Yixing provides industrial water and wastewater projects to large multinational manufacturers in mainland China.
20-F for FY2025, filed Apr 30, 2026The Company distributes products primarily through Far East, its wholly-owned subsidiary in Hong Kong, utilizing a direct marketing and…View ↗
During Fiscal 2025, the Company distributed products to approximately 300 customers located in Hong Kong, mainland China, and Macau…View ↗
Pact-Yixing, in which Far East holds a 58% equity interest, provides customers with engineering solutions for industrial water and…View ↗
20-F for FY2025, filed Apr 30, 2026
The Group is subject to a concentration of risk because it derives a significant portion of its revenues from a few customers. The Group’s…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$1.4M.
20-F for FY2025, filed Apr 30, 2026
−$236KView ↗
20-F for FY2025, filed Apr 30, 2026
$167KView ↗
20-F for FY2025, filed Apr 30, 2026
−$1.4MView ↗
How Are They Changing?
Shrinking. Revenue fell 38% in 4 years, from $21.4M in FY2021 to $13.3M in FY2025, about 11% a year.
From distribution toward engineering
The earlier report described the company primarily as a distributor; the latest says it is shifting emphasis from equipment distribution toward engineering, manufacturing and technology activities as suppliers sell directly in China.
20-F for FY2022, filed May 12, 2023 20-F for FY2025, filed Apr 30, 2026The Company has primarily been a distributor of a wide range of advanced water treatment equipment, laboratory instruments, analyzers, test…View ↗
Revenues from the Company’s trading activities have decreased in recent years, as a substantial number of the Company’s suppliers have been…View ↗
Loading...
