Euro Tech Holdings Company Limited (CLWT): Business Model Canvas [Dec-2025 Updated]

You're digging into Euro Tech Holdings Company Limited (CLWT) right after their April 2025 fiscal update, and the Business Model Canvas tells a clear story: this company thrives by threading the needle between specialized engineering and high-volume trading. See how their Fiscal 2024 results, which included US$15,383,000 in instrument sales revenue, were significantly propped up by high-margin Ballast Water Treatment Systems (BWTS), boosting gross profit by 15.4%-a crucial buffer against the roughly US$4,067,000 in Selling and administrative expenses. We've mapped out the nine essential components, from their key partnerships with shipyards to the specialized expertise driving their Nov 2025 water treatment project, so you can see exactly where the value is created and where the near-term risks lie in their Hong Kong and China operations. Keep reading to break down the engine room of Euro Tech Holdings Company Limited.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that keep Euro Tech Holdings Company Limited (CLWT) moving, especially the ones that bring in the big contracts and ensure compliance. These aren't just names on a list; they represent tangible revenue streams and operational necessities for the business as of late 2025.

Yixing PACT Environmental Technology Co. Ltd. (PACT), the majority-owned subsidiary, is central to the Engineering segment. PACT is recognized as the first wholly foreign-owned engineering company in mainland China specializing in the design, manufacturing, and operation of industrial water and wastewater treatment plants. Its PACT MARINE™ Ballast Water Management System (BWMS) is developed in-house, using a 40 μm self-cleaning filter combined with Medium Pressure Ultraviolet (MPUV) disinfection technology. PACT has completed dozens of projects across major Chinese hubs like Shanghai, Beijing, and Hong Kong.

The most recent, high-profile collaboration is with the French-Mongolian joint venture energy firm. On November 21, 2025, PACT secured a contract valued at approximately US$2.1 million. This project involves providing sewage treatment solutions with a capacity of 300 tons per day and potable water treatment solutions with a capacity of 360 tons per day at a uranium mining site in Mongolia, with an expected completion date of August 2026. This is a clear example of how PACT's specialized engineering translates directly into significant revenue.

The BWTS business relies heavily on partnerships with shipyards and vessel owners, though specific shipyard names aren't public. PACT's Marine & Offshore Division has secured orders for its port reception systems; a September 2025 contract involved a system with a treatment capacity of 800 cubic meters per hour. For shipboard retrofits, Euro Tech Holdings obtained type approval certificates from China's Classification Society for its BWTS units ranging from 200 m3/h up to 1250 m3/h back in 2016. Furthermore, a strategic 'White Label' partnership was signed with ERMA FIRST in Greece, focusing on sales distribution across 20 countries in Europe.

The Trading and Manufacturing segment is built on relationships with technology suppliers for process control and analytical instruments. Euro Tech Holdings acts as a distributor for manufacturers of these items, primarily serving commercial customers and governmental agencies in Hong Kong and the People's Republic of China. The instruments distributed include a range of analytical equipment such as:

• Spectrophotometers.
• Chromatographs and mass spectrometers.
• Atomic spectrometers.
• Process control sensors and transmitters.
• Flow meters and power quality analyzers.

Compliance and market access are managed through relationships with government regulatory bodies. A key ongoing relationship is with the U.S. Securities and Exchange Commission (SEC) regarding the Holding Foreign Companies Accountable Act (HFCAA). The SEC provisionally identified Euro Tech Holdings as a Commission-Identified Issuer on May 20, 2022, based on audit papers for the fiscal year ended December 31, 2021. On the operational side, the company's BWTS technology received type approval from China's Classification Society in 2016. The current Board of Directors and Board of Statutory Auditors are set to remain in office until the approval of financial statements for the year ending December 31, 2025.

Here is a quick look at the scale of some of these key operational relationships:

Partner Type/Entity	Metric/Value	Context/Date
French-Mongolian JV Energy Firm Contract	US$2.1 million	Awarded November 21, 2025
French-Mongolian JV Sewage Capacity	300 tons per day	Part of the $2.1M contract
French-Mongolian JV Potable Water Capacity	360 tons per day	Part of the $2.1M contract
PACT BWTS Filter Size	40 μm	Self-cleaning filter technology
BWTS Type Approval Range (China)	200 to 1250 m3/h	Type approval received in 2016
ERMA FIRST Partnership Focus	20 countries	Sales distribution territory in Europe
SEC HFCAA Identification Date	May 20, 2022	Provisional identification based on FYE 2021 audit

Finance: draft 13-week cash view by Friday.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Key Activities

You're looking at what Euro Tech Holdings Company Limited (CLWT) actually does day-to-day to generate revenue, based on their latest reported figures and recent contract wins as of late 2025. Honestly, the key activities show a split focus between high-margin systems and lower-margin trading, which you see reflected in the gross profit percentages.

The core operational activities revolve around environmental engineering services, equipment supply, and instrument trading. For instance, the Engineering segment secured a notable contract in November 2025, which gives us a concrete example of their project work.

Here are the specific Key Activities Euro Tech Holdings Company Limited focuses on:

• Environmental engineering and project commissioning, exemplified by the recent November 2025 contract award worth approximately $2.1 million for water treatment solutions at a uranium mining site in Mongolia.
• Distribution and trading of high-value analytical and testing instruments, though this segment saw a substantial drop in sales to the Hong Kong Government in Fiscal 2024.
• Manufacturing and supply of water and wastewater treatment equipment, which supports the Engineering segment's project delivery.
• R&D and system integration for Ballast Water Treatment Systems (BWTS), which delivered a higher gross profit margin in Fiscal 2024 compared to the instrument trading segment. A specific port BWT system contract was valued around $1.2 million, capable of treating 800 cubic meters per hour.
• Maintaining regulatory compliance across Hong Kong and mainland China, a necessary overhead given their operational footprint in both jurisdictions.

To give you a clearer picture of how the segments contributed to the top line, here's a quick look at the financial context around these activities, using the latest full-year data available (Fiscal 2024 ending December 31, 2024) and the latest LTM revenue figure:

Activity Area	Metric	Value (Latest Reported)
Overall Business Performance	Latest Twelve Months Revenue	$15.383 million
Overall Business Performance	Fiscal 2024 Revenue	$15,383,000
Overall Business Performance	Fiscal 2024 Gross Profit	$4,454,000
Overall Business Performance	Fiscal 2024 Gross Margin	28.95%
Environmental Engineering (WWT Projects)	Mongolia Project Value (Nov 2025)	$2.1 million
Environmental Engineering (WWT Projects)	Mongolia Sewage Capacity	300 tons per day
BWTS Integration	Port BWT System Contract Value	Approximately $1.2 million
BWTS Integration	Port BWT System Capacity	800 cubic meters per hour
Instrument Trading	Revenue Change Driver (FY2024)	Substantial drop in sales to HK Government

The company's financial health indicators suggest stability in liquidity, with a current ratio of 2.3 and a quick ratio of 2.18 as of late 2024, supported by minimal leverage-the debt-to-equity ratio was just 0.01. Still, the CEO noted in April 2025 that the Wastewater Treatment (WWT) business struggled due to foreign investment declines.

The shift in profitability drivers is clear; the higher gross profit margin from BWTS revenue helped boost overall gross profits by 15.4% in Fiscal 2024, even as total revenue fell by 14.3%. That's a key action point: prioritize the higher-margin BWTS work over the lower-margin trading when allocating resources.

The company's market valuation reflects these operational realities, with a market capitalization around $8.45 million as of November 2025.

Finance: draft 13-week cash view by Friday.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Key Resources

You're looking at the core assets Euro Tech Holdings Company Limited (CLWT) relies on to deliver its value proposition in the environmental technology and instrumentation space. These aren't just things they own; they are the capabilities that drive revenue, especially as they pivot toward higher-margin systems.

The financial foundation supporting these resources is critical. For Fiscal 2024, Euro Tech Holdings Company Limited generated a US$4,454,000 Gross Profit. This is up from approximately US$3,861,000 in Fiscal 2023, representing a 15.4% increase, largely due to a strategic shift in sales mix. For context, the total revenue for Fiscal 2024 was US$15,383,000, with selling and administrative expenses coming in at approximately US$4,067,000.

Here's a breakdown of the tangible and intangible assets:

• Specialized engineering expertise in water and wastewater treatment (WWT) and Ballast Water Treatment Systems (BWTS).
• Established sales network in Hong Kong and the People's Republic of China.
• Exclusive distribution agreements for certain analytical instruments.
• Intellectual property and patents related to environmental technology.

The depth of their technical capability is supported by significant prior investment. For instance, in Fiscal 2023, Euro Tech Holdings Company Limited allocated $2.1 million towards research and development expenses, which was 12.4% of the total company revenue for that year. That kind of spend builds a durable resource base.

The network of relationships and distribution channels acts as a force multiplier for their engineering services and product sales. This is evident in their established partnerships:

Resource Category	Specific Example/Metric	Value/Count
Long-Term Enterprise Clients	Enterprise-level clients across industrial automation and technology sectors	64
Technology Supplier Partnerships	Partnerships with major industrial instrumentation technology suppliers	Emerson Electric Co., Siemens AG, ABB Ltd.
Engineering & Automation Alliances (FY2023 Value)	Annual Collaboration Value with Honeywell International Inc.	$2.3 million
Engineering & Automation Alliances (FY2023 Value)	Annual Collaboration Value with Rockwell Automation Inc.	$1.7 million
Research Collaborations	Institutions for Technological Innovation	MIT, Stanford University Engineering Department, Technical University of Munich

The sales network is anchored in the region, with a focus on the China market for environmental protection equipment, including monitoring and analytical instruments. The company also notes growth in the BWTS business overseas, specifically mentioning Turkey, indicating an expanding international reach beyond the core Hong Kong and PRC base.

The core of their product offering centers on:

• Water and waste water related process control, analytical and testing instruments.
• Disinfection equipment, supplies, and related automation systems.
• Ballast Water Treatment Systems (BWTS), which command a higher gross profit margin.

Finance: draft 13-week cash view by Friday.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Euro Tech Holdings Company Limited (CLWT) brings to its customers, which are clearly driving financial results, especially in the maritime compliance sector.

High-margin BWTS sales are a major value driver. This focus directly impacted the bottom line in Fiscal 2024. Gross profits for the full year ended December 31, 2024, reached US$4,454,000, marking an increase of 15.4% compared to the US$3,861,000 recorded in Fiscal 2023. This improvement happened even as total revenues for Fiscal 2024 decreased to US$15,383,000 from US$17,940,000 in Fiscal 2023, showing the higher margin of the Ballast Water Treatment Systems (BWTS) revenue stream. The BWTS business has seen steady growth in China and overseas, like Turkey.

The company provides comprehensive, integrated environmental engineering solutions. This isn't just selling a box; it's end-to-end project delivery. A concrete example is the contract secured in November 2025 by the majority-owned subsidiary, Yixing PACT Environmental Technology Company Ltd., valued at approximately USD 2.1 million. This project scope covers the full lifecycle of the solution.

Service Component	Project Example (Nov 2025 Contract)	Capacity Metric
Design & Supply	Advanced sewage and potable water treatment systems	Sewage: 300 tons per day
Fabrication & Commissioning	For a uranium mining operation	Potable Water: 360 tons per day

Euro Tech Holdings Company Limited offers access to a diverse portfolio of high-precision, imported analytical instruments. While sales of these high value instruments with lower gross profit percentages contributed to a revenue decrease in Fiscal 2024, the company maintains its role as a premium distributor. They focus on supplying monitoring instruments, analytical instruments, and testing equipment specifically for environmental protection across air, water, and energy sectors in the China market.

You get regulatory compliance assurance baked into the offering for industrial and government water projects. This is critical because the global BWTS market is heavily driven by regulation. As of 2024, over 65,000 vessels worldwide are mandated to comply with the IMO Ballast Water Management Convention. Furthermore, in North America, over 5,000 vessels in U.S. waters were equipped with compliant systems as of 2024, driven by USCG approval. Non-compliance can lead to daily penalties up to USD 35,000, so assurance is a high-value proposition.

Finally, the company delivers reliable, long-term maintenance and calibration services for complex equipment. This service component ensures the longevity and continued compliance of the installed systems. The overall strategy is to provide high-quality yet competitively priced instruments and engineering services.

• Fiscal 2024 Gross Profit: US$4,454,000
• Fiscal 2023 Gross Profit: US$3,861,000
• Fiscal 2024 Revenue: US$15,383,000
• New PACT Contract Value (Nov 2025): Approx. USD 2.1 million
• Vessels Required to Comply (Global, as of 2024): Over 65,000

Finance: draft 13-week cash view by Friday.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Customer Relationships

You're looking at how Euro Tech Holdings Company Limited (CLWT) manages its connections with clients, which clearly splits between big, custom engineering work and smaller, off-the-shelf gear sales. It's a dual approach, and the numbers from Fiscal 2024 definitely show where the pressure points are.

Dedicated personal assistance for large-scale engineering projects via PACT.

For your major environmental engineering needs, the relationship is managed through the subsidiary Yixing PACT Environmental Technology Company Ltd. (PACT). This is high-touch, project-specific engagement covering design, supply, fabrication, and commissioning. We see this commitment in the recent contract awards:

Date Announced	Project Type	Approximate Value (US$)	Key Client/Location
November 21, 2025	Sewage & Potable Water Treatment	US$2.1 million	French-Mongolian joint venture in Mongolia
September 3, 2025	Ballast Water Treatment Port Reception System	US$1.2 million	Chinese state-owned petrochemical company in Guangdong
February 25, 2025	Industrial Wastewater Treatment & BWTS Port System	US$2.2 million (Total for two contracts)	UK pharmaceutical company & Chinese state-owned shipping company

These contracts show a deep level of involvement, which is what you expect when a client needs complex water treatment solutions. Honestly, these deals are the core of the dedicated assistance model.

Transactional sales model for smaller, standardized analytical instruments.

The other side of the coin involves selling monitoring instruments, analytical instruments, and testing equipment, often on a more transactional basis, especially for smaller or standardized units. This segment clearly faced headwinds in the last reported period.

Long-term, high-touch relationships with key government clients, though sales dropped in 2024.

Euro Tech Holdings Company Limited has historically relied on key government relationships, particularly in Hong Kong, for sales of these analytical instruments. However, the Fiscal 2024 results reflect a significant strain on this relationship. Total revenues for Fiscal 2024 were US$15,383,000, which was a 14.3% decrease from the US$17,940,000 recorded in Fiscal 2023. The company explicitly stated this revenue drop was mainly a result of a substantial drop in sales of high value analytical instruments to the Hong Kong Government. Still, gross profits managed to increase by 15.4% to US$4,454,000, thanks to higher-margin Ballast Water Treatment Systems (BWTS) sales offsetting this government segment weakness.

Service contracts for maintenance and calibration, ensuring recurring engagement.

While the search results don't give a specific dollar amount for pure service contracts, the nature of the PACT projects (design, supply, fabrication, installation, and commissioning) strongly implies follow-on service and maintenance agreements. This recurring engagement is crucial for stabilizing revenue, especially when large equipment sales fluctuate. The focus on BWTS and WWT suggests long-term service needs for operational environmental systems.

Expert consultation for complex water and air pollution control needs.

Euro Tech Holdings Company Limited positions itself as an environmental engineering services provider focusing on air, water, and energy protection for the China market. This expert consultation is embedded within the PACT service delivery, as seen in the scope of work for the recent contracts, such as providing both sewage and potable water treatment solutions. The company's overall strategy is to supply these high-value instruments alongside the necessary engineering expertise.

• The company's net income for Fiscal 2024 was US$734,000, down from US$1,828,000 in Fiscal 2023.
• Selling and administrative expenses slightly decreased by 0.9% to approximately US$4,067,000 in Fiscal 2024.
• The company's cash and cash equivalents stood at €6.2 million as of December 31, 2024.

Finance: draft 13-week cash view by Friday.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Channels

You're looking at how Euro Tech Holdings Company Limited (CLWT) gets its environmental engineering solutions and technology instruments to the customer base, which is heavily concentrated in Hong Kong and the People's Republic of China (PRC). The channel strategy clearly splits between high-value, complex engineering contracts and the distribution of specialized equipment.

Direct sales force for major government and industrial engineering contracts.

The direct sales effort targets large-scale engineering work, which includes wastewater treatment (WWT) and Ballast Water Treatment Systems (BWTS). The reliance on this channel is highlighted by the Fiscal 2024 revenue figures, where a substantial drop in sales of high-value analytical instruments to the Hong Kong Government contributed to the overall revenue decrease. For the 12-month period ended December 31, 2024, total revenues were US$15,383,000, down approximately 14.3% from US$17,940,000 in Fiscal 2023. This suggests direct government contract volatility is a key channel risk you need to watch.

The company is also actively planning to capture the small and medium-sized ships market for BWTS retrofit by engaging in direct marketing with shipowners, including co-organizing technical seminars with distributors in high-growth shipping regions outside China. This is a clear action to diversify the direct sales focus beyond just government entities.

Subsidiary Yixing PACT Environmental Technology Co. Ltd. for mainland China projects.

The majority-owned subsidiary, Yixing PACT Environmental Technology Company Ltd. (PACT), is the primary engine for securing and executing engineering projects within the PRC and increasingly, internationally. PACT's recent contract wins show the direct impact of this channel.

Date of Announcement	Project Location	Approximate Contract Value (USD)	Project Type
February 25, 2025	Qingdao, China	~US$2.2 million (Total for two contracts)	Turnkey industrial water treatment solution
November 21, 2025	Mongolia	~US$2.1 million	Sewage and potable water treatment solutions for a uranium mining site

These contracts, totaling approximately US$4.3 million from just two announcements in 2025, demonstrate the high-value nature of the engineering channel managed through PACT. The company's primary goal for the China market is supplying high-quality, competitively priced instruments and engineering services.

Physical distribution centers for instruments and equipment in Hong Kong/China.

Euro Tech Holdings Company Limited acts as a distributor for various technology instruments, including analytical instruments, environmental quality monitoring instruments, and process analyzers, primarily to commercial customers and governmental agencies in Hong Kong and the PRC. While the company maintains its principal executive offices in Hong Kong at 18/F Gee Chang Hong Centre, 65 Wong Chuk Hong Road, specific operational data or inventory levels for dedicated physical distribution centers aren't public. The structure relies on distribution networks to move manufactured and procured equipment.

The trading and manufacturing segment, which includes distribution, saw its revenue composition shift in Fiscal 2024. Gross profits increased by 15.4% to US$4,454,000, partly due to an increase in revenue from Ballast Water Treatment Systems (BWTS) which carry a higher gross profit margin compared to the lower-margin analytical instruments that saw reduced sales.

Direct-to-customer service teams for installation and maintenance.

For the engineering contracts secured by PACT, the scope of work explicitly covers design, supply, fabrication, installation, and commissioning. This means dedicated, direct-to-customer service teams are integral to project completion, especially for complex WWT and BWTS solutions. For instance, the Mongolian project announced in November 2025 covers design, supply, fabrication, and commissioning, all delivered directly to the French-Mongolian joint venture energy company.

The overall Selling and administrative expenses were US$4,067,000 for Fiscal 2024, a slight decrease of 0.9% from the prior year, which reflects the cost structure supporting these direct service delivery teams.

Online/digital presence for product specifications and defintely initial inquiries.

The company maintains a digital footprint, including a corporate website and investor relations portal where you can find press releases and SEC filings, such as the 2024 Annual Report (Form 20-F) filed on April 30, 2025. The website lists product categories like Scientific Equipment and Power Solutions, suggesting a digital catalog for product specifications. Initial inquiries are likely routed through contact forms or direct email channels, such as the contact person listed for shareholder information, jerrywong.hk@euro-tech.com. The stock trades on NASDAQ-CM under the ticker CLWT, with a share price as of November 25, 2025, at $1.05 per share, indicating a digital market presence for capital access.

Here's a quick look at the latest trading context:

• Share Price (Nov 25, 2025): $1.05
• Market Cap (as of latest data): $8,073,855
• 52 Week Range: $0.99 to $1.63

If onboarding takes 14+ days, churn risk rises, and the reliance on direct sales/project execution means digital lead conversion efficiency is a key metric to track for the next reporting cycle.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Customer Segments

You're looking at the core groups Euro Tech Holdings Company Limited (CLWT) serves, based on the latest available figures from the Fiscal 2024 report and contract activity through November 2025. It's clear the business relies heavily on government and industrial clients in its home base, but international engineering projects are a significant value driver.

The company's revenue streams in Fiscal 2024, which ended December 31, 2024, show a split between its two operating segments:

Business Segment	FY2024 Revenue (USD)	Percentage of Total Revenue
Trading and manufacturing	$9,550,000	62.08%
Engineering	$5,830,000	37.92%

Geographically, the customer base for the total revenue of $15,383,000 in Fiscal 2024 was concentrated in two main areas:

• Hong Kong: $6,750,000, representing 43.85% of total revenue.
• The People's Republic of China (PRC): $6,400,000, representing 41.59% of total revenue.
• Others: $2,240,000, representing 14.56% of total revenue.

Here is the breakdown of how the specified customer segments map to the business activities and recent financial indicators:

Government entities in Hong Kong for analytical instruments and environmental monitoring.

• Sales of high-value analytical instruments to the Hong Kong Government were the primary cause of the 14.3% revenue decrease in Fiscal 2024 compared to Fiscal 2023.
• The Hong Kong region accounted for $6,750,000 in revenue in Fiscal 2024.

Industrial sector clients needing Wastewater Treatment (WWT) and air pollution control.

• The Wastewater Treatment ("WWT") business has been struggling due to declines in foreign investment impacting the industrial sector.
• The Engineering segment, which includes WWT, generated $5,830,000 in Fiscal 2024 revenue.

Global shipping companies requiring Ballast Water Treatment Systems (BWTS).

• BWTS revenue maintained stable growth in Fiscal 2024, driven by higher gross profit margins.
• The company is focused on capturing the small and medium-sized ships market for BWTS retrofit outside China.
• In November 2025, a subsidiary secured a $1,200,000 contract for a ballast water treatment port reception system from a Chinese state-owned petrochemical company.

Mining and energy firms needing specialized sewage and potable water treatment.

• This segment saw a significant contract award in late 2025, indicating active business development in this area.
• On November 21, 2025, a contract worth approximately US$2.1 million was awarded for sewage and potable water treatment solutions at a uranium mining site in Mongolia.
• The scope of this project includes treatment capacities of 300 tons per day for sewage and 360 tons per day for potable water.

Educational and research institutions purchasing laboratory instruments.

• Laboratory instruments are part of the Trading and manufacturing segment, which generated $9,550,000 in Fiscal 2024.
• Specific revenue attributed solely to this customer group is not separately itemized from the overall Trading and manufacturing revenue, which also includes water treatment equipment and power generation equipment sales.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive the operational spend for Euro Tech Holdings Company Limited as of late 2025, based on the Fiscal 2024 filings. Honestly, getting a clean, itemized breakdown for every single cost bucket is tough with publicly filed data, but we have the key aggregates that frame the cost structure.

The largest component of direct cost is the Cost of Goods Sold (COGS), which covers the instruments and manufactured equipment sold. For the fiscal year ended December 31, 2024, this figure stood at US$10,929,000.

The overhead and operational costs are largely captured in the Selling and administrative expenses. As you noted, this figure for Fiscal 2024 was approximately US$4,067,000, which was a slight dip of 0.9% compared to the prior year's US$4,103,000.

For the more granular items like specialized labor, international procurement, and facility operating expenses, the specific line-item data isn't broken out in the readily available reports, so we have to infer or use the closest available aggregate. The company definitely has significant costs associated with its Hong Kong and China-based facilities, which are covered within the total Operating Expenses, including the SG&A figure we just mentioned. Management has noted they are actively trimming overhead costs, which suggests these facility and personnel costs are under review.

Here's a quick look at the known major cost elements from the Fiscal 2024 annual report:

Cost Component	Fiscal 2024 Amount (US$)	Notes
Cost of Goods Sold (COGS)	10,929,000	For instruments and manufactured equipment.
Selling and Administrative Expenses (SG&A)	4,067,000	Includes some labor and general overhead.
Gross Profit	4,454,000	Revenue less COGS.
Total Revenue	15,383,000	The top-line figure for context.

When thinking about the labor costs for specialized engineers and technical service staff, you should know this is embedded within the SG&A, or potentially within COGS if directly tied to manufacturing/installation revenue streams. Given the engineering segment involves complex projects, this personnel cost is a defintely critical, though unquantified, part of the cost base. Similarly, procurement costs for technology from international suppliers-essential for their Ballast Water Treatment Systems (BWTS) and analytical instruments-are factored into COGS.

The operating expenses for the Hong Kong and China-based facilities are a major structural cost. The CEO commentary points to the WWT business struggling due to the China slowdown, which implies that fixed costs related to those facilities are a near-term pressure point. We know the company is subject to PRC Enterprise Income Tax rates of 15% for certain subsidiaries, which impacts the final cost structure, though this is a tax, not an operating expense.

You can see the structure is heavily weighted toward the direct cost of goods sold. Here are the key cost-related financial metrics for Fiscal 2024:

• Cost of Goods Sold: US$10,929,000.
• Selling, General and Admin Expenses: Approximately US$4,067,000.
• Gross Profit Margin: Approximately 28.96% (US$4,454,000 / US$15,383,000).
• Labor/Procurement/Facility costs are included in the above aggregates.

Finance: draft 13-week cash view by Friday.

Euro Tech Holdings Company Limited (CLWT) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Euro Tech Holdings Company Limited (CLWT) as of late 2025, based on the Fiscal 2024 results. Honestly, the revenue picture is a bit mixed, showing strength in some areas but overall contraction compared to the prior year.

The total revenue for the twelve months ended December 31, 2024, was reported at US$15,383,000, which was an approximate 14.3% decrease from the US$17,940,000 recorded in Fiscal 2023. Still, gross profits managed to climb by 15.4% to US$4,454,000 in Fiscal 2024, up from approximately US$3,861,000 in Fiscal 2023.

Here's how the streams break down based on what we know:

• Sales of Ballast Water Treatment Systems (BWTS) with higher gross profit margins.
• Revenue from the Trading and Manufacturing segment, the key revenue driver.
• Engineering service fees from water and wastewater treatment projects.
• Sales of analytical and process control instruments, totaling US$15,383,000 in Fiscal 2024 revenue.
• Maintenance, calibration, and after-sales service contract fees.

The CEO noted that the company maintained stable growth overall for its BWTS business in 2024, which contributed to the higher gross profit margin overall. Conversely, the Wastewater Treatment (WWT) business struggled due to the slowdown in the industrial sector from declining foreign investment. The decrease in total revenue for Fiscal 2024 was mainly attributed to a substantial drop in sales of high value analytical instruments, which carry a lower gross profit percentage.

For the first half of 2024 (1H 2024), the revenue from engineering activities saw a decrease of US$545,000 compared to 1H 2023, though the gross profit margin on those engineering activities actually increased. This suggests that while the volume of engineering work might have dipped, the profitability per project improved.

To give you a clearer snapshot of the known financial performance underpinning these streams for Fiscal 2024:

Financial Metric	Fiscal 2024 Amount (US$)	Fiscal 2023 Amount (US$)
Total Revenue	15,383,000	17,940,000
Gross Profit	4,454,000	3,861,000
Cost of Revenue	10,929,000	14,079,000
Selling, General and Admin Expenses	4,068,000	4,110,000

The prompt specifies that sales of analytical and process control instruments totaled US$15,383,000 in Fiscal 2024 revenue. What this estimate hides is the exact revenue contribution from the Trading and Manufacturing segment, which is cited as the key driver, and the specific revenue from maintenance and after-sales contracts, as the reported total revenue for the year is also US$15,383,000. Finance: draft a sensitivity analysis on the impact of a 10% drop in BWTS revenue by next Tuesday.