HONG
KONG, May 27, 2022 /PRNewswire/ -- Euro
Tech Holdings Company Limited (Nasdaq: CLWT) ("Euro Tech" or the
"Company") today provides an update on its status under the Holding
Foreign Companies Accountable Act (the "HFCAA").
The Company is aware that it has been provisionally identified
by the United States Securities and Exchange Commission (the "SEC")
under the HFCAA as a Commission-Identified Issuer on May 20, 2022, following the Company's filing of
its annual report on Form 20-F for the fiscal year ended
December 31, 2021 with the SEC on
May 16, 2022.
The Company understands the SEC made such identification
pursuant to the HFCAA and its implementation rules issued
thereunder, and this indicates that the SEC determines that the
Company has retained a registered public accounting firm whose
working paper cannot be inspected or investigated completely by the
Public Company Accounting Oversight Board of the United States (the "PCAOB") to issue the
audit opinion for its financial statements for the fiscal year
ended December 31, 2021.
In accordance with the HFCAA, the securities of a company will
be delisted from a U.S. stock exchange if such company has been
identified by the SEC for three consecutive years due to PCAOB's
inability to inspect or investigate the registered public
accounting firm's working paper completely.
The Company will continue to monitor market developments and
explore possible solutions. The Company will continue to comply
with applicable laws and regulations in both China and the United
States, and strive to maintain its listing status on
Nasdaq.
About Euro Tech Holdings Company Limited
Euro Tech is a premium distributor and manufacturer of
high-quality technology instruments as well as an environmental
engineering services provider. To meet the environmental needs of
the China market, Euro Tech is
focusing on the environmental protection for air, water and energy,
for which the company can supply monitoring instruments, analytical
instruments and testing equipment. Euro Tech's primary goal is to
provide high-quality yet competitively priced instruments and
engineering services to the Chinese marketplace. More information
on the Company can be found at
http://www.euro-tech.com/en/default.asp
Forward Looking Statements
This press release contains forward-looking statements that are
made under the safe harbor provisions within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking
statements are based on management's beliefs and assumptions and on
information currently available to the Company's management.
Forward-looking statements include statements regarding the
Company's ability to file its Annual Report for the year
ended December 31, 2021. The
Company's actual results and the timing of events could materially
differ from those anticipated in such forward-looking statements as
a result of certain risks and uncertainties including those
described in more detail in the Company's most recent Annual Report
on Form 20-F and other documents on file with the
Securities and Exchange Commission, each of which can be found on
the SEC's website, www.sec.gov. Except as required by law, the
Company assumes no obligation to update these forward-looking
statements, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future.
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SOURCE EURO TECH HOLDINGS COMPANY LIMITED