Core Viewpoint - Euro Tech Holdings Company Limited reported a decline in net income and revenues for Fiscal 2024, primarily due to decreased sales of high-value analytical instruments, while gross profits increased due to higher margins from Ballast Water Treatment Systems (BWTS) [2][3][4]. Financial Performance - The company had a net income of US$734,000 in Fiscal 2024, down from US$1,828,000 in Fiscal 2023, largely due to a one-time profit from the disposal of desulfurization treatment plants in the previous year [2]. - Revenues for Fiscal 2024 were US$15,383,000, representing a 14.3% decrease from US$17,940,000 in Fiscal 2023 [3]. - Gross profits increased by 15.4% to US$4,454,000 in Fiscal 2024 compared to approximately US$3,861,000 in Fiscal 2023 [4]. - Selling and administrative expenses slightly decreased by 0.9% to approximately US$4,067,000 in Fiscal 2024 [4]. Business Segments - The BWTS segment showed stable growth, while the Wastewater Treatment (WWT) business faced challenges due to declines in foreign investment in the industrial sector [5]. - The company sees potential in mobile port BWTS systems and shore-based water solutions, driven by increasing maritime traffic and stricter environmental regulations [6]. Market Context - The International Maritime Organization (IMO) mandates BWTS to prevent ecological imbalances caused by ballast water, with compliance requirements affecting vessels built after December 2013 [7]. - The company has obtained type approval for its BWTS in compliance with revised G8 requirements [8]. Selected Financial Data - As of December 31, 2024, cash and cash equivalents were US$5,805,000, total current assets were US$9,229,000, and total assets were US$20,708,000 [12]. - Total liabilities decreased to US$4,014,000 from US$5,640,000 in the previous year, while total shareholders' equity remained relatively stable at US$15,743,000 [12].