FORM 20-F

 

o		REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
x		ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2007
OR
o		TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
o		SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                               to

 

Commission file number 000-22113

 

EURO TECH HOLDINGS COMPANY LIMITED

(Exact name of Registrant as specified in its charter)

 

EURO TECH HOLDINGS COMPANY LIMITED

(Translation of Registrant’s name into English)

 

British Virgin Islands

(Jurisdiction of incorporation or organization)

 

18/F Gee Chang Hong Centre, 65 Wong Chuk Hong Road, Hong Kong

(Address of principal executive offices)

 

Securities registered or to be registered pursuant to Section 12(b) of the Act.

 

Title of each class		Name of each exchange on which registered
Not Applicable

 

Securities registered or to be registered pursuant to Section 12(g) of the Act.

 

Ordinary Shares, $0.01 par value

(Title of Class)

 

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

 

 

(Title of Class)

 

Indicate the number of issued and outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

 

11,684,250 Ordinary Shares

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

Yes   x

No   o

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

 

Yes   o

No   x

 

If this is an annual or transitional report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Yes   o

No   x

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act (check one).

 

Large Accelerated Filer  o

Accelerated Filer  o

Non-Accelerated Filer x

 

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

 

x U.S. GAAP

o International Financial Reporting Standards as issued by the International Accounting Standards Board

o Other

 

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

 

Yes   o

No   x

 

Indicate by check mark which financial statement item the registrant has elected to follow.

 

Item 17 o

Item 18 x

 

 

TABLE OF CONTENTS

 

INTRODUCTION		1
FORWARD LOOKING STATEMENTS		1
GLOSSARY		2
PART I		4
ITEM 3.	KEY INFORMATION	4
Item 3A.	Selected Financial Data	4
Item 3D.	Risk Factors	7
ITEM 4.	INFORMATION ON THE COMPANY	16
Item 4A.	History and Development of the Company	16
Item 4B.	Business Overview	17
Item 4C.	Organizational Structure	27
Item 4D.	Property, Plant and Equipment	28
ITEM 5.	OPERATING AND FINANCIAL REVIEW AND PROSPECTS	29
Item 5A.	Operating Results	30
Item 5B.	Liquidity and Capital Resources	34
Item 5C.	Research and Development, Patents and Licenses	38
Item 5D.	Trend Information	38
Item 5E.	Off Balance Sheet Arrangements	38
Item 5F.	Tabular Disclosure of Contractual Obligations	38
ITEM 6.	DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES	39
Item 6A.	Directors and Senior Management	39
Item 6B.	Compensation	41
Item 6C.	Board Practices	49
Item 6D.	Employees	51
Item 6E.	Share Ownership	51
ITEM 7.	MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	51
Item 7A.	Major Shareholders	51
Item 7B.	Related Party Transactions	52
ITEM 8.	FINANCIAL INFORMATION	53
Item 8A.	Consolidated Statements and Other Financial Information	53
Item 8B.	Significant Changes	53
ITEM 9.	THE OFFERING AND LISTING	54
Item 9A.	Listing Details	54
Item 9C.	Markets	55
ITEM 10.	ADDITIONAL INFORMATION	55
Item 10A.	Share Capital	55
Item 10B.	Memorandum and Articles of Association	57
Item 10C.	Material Contracts	59
Item 10D.	Exchange Controls	59
Item 10E.	Taxation	60
Item 10H.	Documents on Display	61

 

ii

 

ITEM 11.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	62
PART II		62
ITEM 13.	DEFAULTS, DIVIDENDS, ARREARAGES AND DELINQUENCIES	62
ITEM 14.	MATERIAL MODIFICATION TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS	62
ITEM 15.	CONTROLS AND PROCEDURES	62
ITEM 16.	[RESERVED]	63
Item 16A.	Audit Committee Financial Expert	63
Item 16B.	Code Of Ethics	63
Item 16C.	Principal Accountant Fees And Services	64
Item 16D.	Exemptions From Listing Standards