Financial Performance - Total revenues for 2020 were $13,357,000, a decrease of 23.5% from $17,399,000 in 2019[15] - Gross profit for 2020 was $3,685,000, down 16.6% from $4,417,000 in 2019[15] - Operating loss for 2020 was $1,701,000, compared to a loss of $440,000 in 2019, indicating a significant decline in operational performance[15] - Net income for 2020 was $402,000, a recovery from a net loss of $210,000 in 2019[15] - The company reported a comprehensive income of $371,000 in 2020, compared to a comprehensive loss of $218,000 in 2019, indicating a positive shift in overall financial health[15] - The company reported a net cash used in operating activities of $2,035,000 in 2020, compared to $266,000 in 2019[182] - The company’s revenue for Fiscal 2020 was approximately $13.36 million, a decrease of 23.3% from $17.40 million in Fiscal 2019[90] - Gross profit for Fiscal 2020 decreased by approximately $732,000 or 16.6% to approximately $3.69 million, with a gross profit margin of 27.6%[91] - The company's net income for Fiscal 2020 was approximately $402,000, compared to a net loss of $210,000 in Fiscal 2019[90] - The company paid dividends totaling $1,299,000 in 2020, down from $1,443,000 in 2019, reflecting a strategy to conserve cash amid losses[183]. Assets and Liabilities - Cash and cash equivalents decreased to $3,519,000 in 2020 from $5,991,000 in 2019, reflecting a liquidity challenge[14] - Total assets decreased to $20,095,000 in 2020 from $22,213,000 in 2019, indicating a reduction in the company's asset base[14] - Total current assets decreased to $10,448,000 in 2020, down 12.9% from $12,010,000 in 2019[179] - Total liabilities decreased to $5,632,000 in 2020, a reduction of 18.1% from $6,876,000 in 2019[179] - Total shareholders' equity attributable to Euro Tech Holdings Company Limited was $13,935,000 as of December 31, 2020, down from $14,459,000 in 2019[179] - As of December 31, 2020, the total shareholders' equity was $14,463,000, a decrease from $15,337,000 in 2019, reflecting a net loss of $146,000 for the year[183]. Market and Economic Conditions - The company anticipates continued challenges in the PRC market due to economic instability and regulatory changes, which may impact future performance[20] - The PRC government's measures to control economic growth have contributed to a slowdown, with China's GDP growth rate at 2.3% in 2020, potentially impacting domestic commerce significantly[23] - Average inflation rates in the PRC increased by 2.0%, 1.6%, 2.1%, 2.9%, and 2.5% from 2016 to 2020, which may adversely affect business revenues and overhead costs[23] - The PRC legal system presents uncertainties that could limit legal protections for foreign investments and expand government power, affecting business operations[24] - The PRC government imposes currency controls, affecting the convertibility of RMB into foreign currencies and potentially restricting access to foreign currencies for capital expenses[28] Operational Challenges - The company has reduced staff and consolidated offices in an effort to stem the decline in revenue, although these efforts have not yet been successful[34] - The company faces risks related to fluctuations in commodity prices, raw materials, and labor costs, which may affect its operating results[35] - The company is subject to various litigations that could adversely affect its financial statements and may incur significant expenses in defending these lawsuits[35] - The company has limited long-term arrangements with major vendors, increasing the risk of operational disruptions if relationships are terminated[42] - The company has been unable to find a suitable market for its energy meters, despite substantial development efforts[71] Shareholder and Governance Issues - The weighted average ordinary shares outstanding increased to 3,092,859 in 2020 from 2,301,993 in 2019, reflecting potential dilution for existing shareholders[15] - Major shareholder T.C. Leung owns 2,659,810 shares, representing 51.6% of the Company's Ordinary Shares[138] - The total number of Ordinary Shares outstanding as of March 31, 2021, was 5,154,759[138] - The Company is classified as a "controlled company," exempting it from certain NASDAQ corporate governance criteria, which may limit shareholder protections[55] - The Company’s Memorandum and Articles of Association can be amended by the Board of Directors without shareholder approval, potentially affecting control changes[142] Research and Development - The Company incurred research and development costs of approximately $493,000 in Fiscal 2020 for BWTS compliance with IMO revised G8 requirements[65] - The Company plans to spend up to an additional $100,000 in research and development costs during Fiscal 2021 for BWTS and related projects[67] - R&D costs for the year ended December 31, 2020, amounted to approximately $497,000, a significant increase from $184,000 in 2018[200] Regulatory and Compliance - The company is subject to various laws regulating advertising, and violations could result in fines and harm to its brand[46] - The Group's financial statements are prepared in accordance with U.S. GAAP, requiring management to make estimates and assumptions affecting reported amounts[108] - The company intends to comply with changes to NASDAQ corporate governance rules as they become effective[164] Currency and Foreign Exchange Risks - The company is exposed to foreign currency risks, with sales primarily in HK dollars and RMB, while expenses are also denominated in multiple currencies including U.S. dollars and Euros[154] - The company does not currently hedge its foreign exchange positions, which could adversely affect its financial condition if foreign currencies appreciate against the U.S. dollar[154]

FORM 20-F Title of each class Trading Symbol Name of each exchange on which registered Ordinary Shares, no par value CLWT NASDAQ Capital Market ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission file number 000-22113 EURO TECH HOLDINGS COMPANY LIMITED (Exact name of Registrant as specified in its charter) (Translation of Registrant's name into English) British Virgin Islands (Jurisdiction of incorporation or organizatio ...

FORM 20-F 1 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 Commission file number 000-22113 EURO TECH HOLDINGS COMPANY LIMITED (Exact name of Registrant as specified in its charter) (Translation of Registrant's name into English) British Virgin Islands (Jurisdiction of incorporation or organization) Unit D, 18/F Gee Chang Hong Centre, 65 Wong Chuk Hang Road, Hong Kong (Address of principal executive offices) T.C. Leung FAX: 85 ...