CDTG CDT Environmental Technology Investment Holdings Ltd

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May, 2024

 

Commission File Number 001-42007

 

CDT Environmental Technology Investment Holdings Limited

(Translation of registrant’s name into English)

 

C1, 4th Floor, Building 1, Financial Base, No. 8 Kefa Road

Nanshan District, Shenzhen, China 518057

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

 

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):☐

 

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR

 

 

On April 24, 2024, May 2, 2024, and May 15, 2024, CDT Environmental Technology Investment Holdings Limited issued press releases, copies of which are attached hereto as Exhibits 99.1, 99.2, and 99.3, respectively, and are incorporated herein by reference.

 

Exhibit No.	Description of Exhibit
99.1	Press Release dated April 24, 2024
99.2	Press Released dated May 2, 2024
99.3	Press Release dated May 15, 2024

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: May 20, 2024

 

	CDT Environmental Technology Investment Holdings Limited
	By:	/s/ Yunwu Li
		Name: Yunwu Li Title: Chief Executive Officer and Chairman of the Board of Directors

 

 

 

EXHIBIT 99.1

 

CDT Environmental Technology Investment Holdings Limited Announces New Wastewater Treatment Services Contract Valued at Approximately $11.7 Million

 

Leading Chinese engineering and construction firm selected as implementation partner

 

Shenzhen, China, April 24, 2024 (GLOBE NEWSWIRE) – CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) (“CDT”), a leading provider of waste treatment systems and services throughout China, has been awarded a contract valued at RMB 85 million (approximately $11.7 million). Initial design and engineering work is underway with CDT and its partner, and the project is scheduled to be completed by the end of 2025.

 

Under the terms of the contract, CDT will develop a state-of-the-art water treatment project covering 11 towns in the Jianyang District of Nanping City, China. The project is designed to manage domestic sewage, curb pollution, and support rural environment improvements throughout the province. Main sewage pipelines and connecting infrastructure focused on improving rural wastewater treatment in the Jianyang District of Nanping City, China, will be built and maintained in collaboration with a leading Chinese engineering and construction firm.

 

This collaboration is representative of CDT’s commitment to sustainable development through innovative solutions. CDT considers the contract a significant breakthrough in its wastewater treatment practice and believes it exemplifies the joint commitment of both CDT and its partner to promoting environmental development throughout its markets in China.

 

“We believe this collaboration marks a significant milestone in our journey to further establish ourselves as ideal partners in the buildout of environmentally-responsible and sustainable infrastructure in the markets we operate,” remarked Yunwu Li, Chief Executive Officer of CDT. “We are committed to leveraging innovative solutions to address pressing environmental challenges, and we anticipate this collaboration will unlock new development opportunities and help drive sustainable practices.”

 

About CDT Environmental Technology Investment Holdings Limited

CDT, headquartered in Shenzhen, China, is a leading national player in China's waste treatment sector that designs, develops, manufactures, sells, installs, operates and maintains sewage treatment systems and provides sewage treatment services in China, and is dedicated to promoting sustainable development through innovative solutions. Founded by pioneers in waste treatment, CDT aims to advance next-generation technologies that directly address environmental challenges and promote sustainable solutions. CDT is a recognized brand in China and is committed to innovation and customer satisfaction.

 

CDT’s mission is to help its customers achieve their critical infrastructure objectives while enabling positive change in technological environmental protection. It collaborates with industry leaders, environmental experts, and stakeholders to develop and implement advanced waste treatment solutions. Recently listed on the Nasdaq Capital Market, CDT is a prominent player in the waste treatment market, capable of providing comprehensive solutions to diverse customer needs, and has completed more than 150 plants across China.

 

For more information, visit CDT’s website at https://www.cdthb.cn.

 

 

Forward Looking Statements

This press release contains forward-looking statements that are based on the beliefs and assumptions of the management of CDT and on information currently available to such management. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond CDT’s control. Words such as “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. All statements, other than statements of historical fact, contained in this press release, including statements regarding future events, future financial performance, business strategy and plans, and objectives of CDT for future operations, are forward-looking statements. Although CDT does not make forward-looking statements unless it believes it has a reasonable basis for doing so, CDT cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievements of CDT and its markets to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on any forward-looking statement. CDT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

 

Investor and Media Contact

 

United States

 

Core IR

Peter Seltzberg, SVP Investor Relations and Corporate Advisory

investors@cdthb.cn

212-655-0924

www.CoreIR.com

 

 

 

EXHIBIT 99.2

 

CDT Environmental Technology Investment Holdings Limited Receives Three New Utility Model Patent Allowances from the China National Intellectual Property Administration (CNIPA)

 

Newly granted intellectual property supports the Company’s waste management platform featuring new AI-powered intelligent waste-sorting technologies

 

Shenzhen, China, May 02, 2024 (GLOBE NEWSWIRE) – CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) (“CDT”), a leading provider of waste treatment systems and services throughout China, announces the granting of three patents from the China National Intellectual Property Administration (CNIPA), each in support of the Company’s waste management methodologies and technology offerings.

 

Patent #202322542684.5, titled, “A Sludge Drying Device,” is the Company’s newly-patented, energy-saving, highly efficient, and environmentally friendly apparatus designed to address the shortcomings of existing technologies. The utility model patent is designed to counter high energy consumption, low efficiency, and the presence of secondary pollution during the waste drying process.

 

Patent #202322542851.6, titled, “A Wastewater Treatment Device for Nitrogen and Phosphorus Removal,” covers the Company’s designed to remove nitrogen and phosphorus from wastewater in order to reduce environmental pollution. The device is meant to solve the current problem in which these minerals cannot be fully stirred with the water, resulting in a waste of chemicals. The CDT device is considered more efficient in conserving them.

 

Patent #202322542588.0, titled, “Highly Efficient Waste Anaerobic Fermentation Device,” was developed after the Company’s AI-powered intelligent waste sorting technology. It is designed to obtain organic slurry and high-concentration filter pressed liquid through mechanical liquefaction (high-pressure squeezing), which would then undergo standardized treatment.

 

“These patents underscore our dedication to staying at the forefront of our industry, demonstrating creativity, ingenuity and resolve in order to address common issues associated with wastewater management for our customers,” remarked Yunwu Li, Chief Executive Officer of CDT. “From simple filtration devices to highly refined bolt-ons connected with our AI-powered technology, CDT continues to provide a platform founded in leadership and innovation, continually striving to provide our customers with valuable benefits and features.”

 

About CDT Environmental Technology Investment Holdings Limited

CDT, headquartered in Shenzhen, China, is a leading national player in China's waste treatment sector that designs, develops, manufactures, sells, installs, operates and maintains sewage treatment systems and provides sewage treatment services in China, and is dedicated to promoting sustainable development through innovative solutions. Founded by pioneers in waste treatment, CDT aims to advance next-generation technologies that directly address environmental challenges and promote sustainable solutions. CDT is a recognized brand in China and is committed to innovation and customer satisfaction.

 

 

CDT’s mission is to help its customers achieve their critical infrastructure objectives while enabling positive change in technological environmental protection. It collaborates with industry leaders, environmental experts, and stakeholders to develop and implement advanced waste treatment solutions. Recently listed on the Nasdaq Capital Market, CDT is a prominent player in the waste treatment market, capable of providing comprehensive solutions to diverse customer needs, and has completed more than 150 plants across China.

 

For more information, visit CDT’s website at https://www.cdthb.cn.

 

Forward Looking Statements

This press release contains forward-looking statements that are based on the beliefs and assumptions of the management of CDT and on information currently available to such management. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond CDT’s control. Words such as “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. All statements, other than statements of historical fact, contained in this press release, including statements regarding future events, future financial performance, business strategy and plans, and objectives of CDT for future operations, are forward-looking statements. Although CDT does not make forward-looking statements unless it believes it has a reasonable basis for doing so, CDT cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievements of CDT and its markets to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on any forward-looking statement. CDT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

 

Investor and Media Contact

United States

 

Core IR

Peter Seltzberg, SVP Investor Relations and Corporate Advisory

investors@cdthb.cn

212-655-0924

www.CoreIR.com

 

 

 

EXHIBIT 99.3

 

CDT Environmental Technology Investment Holdings Limited Files Annual Report on Form 20-F

 

Reports Second Consecutive Year of Revenue Growth and Profitability

 

Shenzhen, China, May 15, 2024 (GLOBE NEWSWIRE) – CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) (“CDT”), a leading provider of waste treatment systems and services throughout China, today announces that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2024. The annual report on Form 20-F, which contains CDT’s audited consolidated financial statements, can be accessed through the SEC’s website at www.sec.gov or CDT’s website at https://www.cdthb.cn.

 

CDT will provide a hard copy of its annual report on Form 20-F, containing CDT’s audited consolidated financial statements, free of charge, to its shareholders upon request. To request a hard copy, shareholders should email a written request to investors@cdthb.cn.

 

Full Year 2023 Financial Highlights (comparisons are with the 2022 year, unless otherwise noted):

 

●

Revenues increased to $34.2 million, representing a year-over-year increase of 18.6%

 

●

Gross profit rose to $11.4 million, or 33.3% of sales, representing a year-over-year increase of 11.0%

 

●

Operating expenses were $2.8 million, or 8.2% of sales, representing a year-over-year decrease of $1.1 million, or 28.9%

 

●

Net income of $7.0 million, or $0.81 per share, compared to $5.2 million, or $0.63 per share, representing a year-over-year increase of 34.6%

 

●

Working capital of $24.2 million compared to $12.9 million

 

Subsequent to 2023 year-end:

 

●

Announced three new patents that feature new AI-powered intelligent waste-sorting technologies

 

“Following our IPO just a few weeks ago, we are pleased to report our third consecutive year of growth at both the top- and bottom-lines, with fundamentals continuing to trend well for our shareholders,” remarked Yunwu Li, Chief Executive Officer of CDT. “The market demand continues to support the growth of our business, and indeed, we are proud of the consistent progress we have made since the lifting of COVID-19 related operating restrictions throughout our key markets. Sales, gross profit, and net profit, our key performance indicators all were higher, and reflect excellent execution from our team, as we complete existing projects and add on new projects. Sewage treatment systems revenue was up over 20% for the year, and our two largest projects, in Lianjiang and Wuyishan are progressing through Phase 2, collectively with approximately $23.2 million in contract revenue to be recognized in coming quarters. With new projects coming on-line, including the $11.7 million contract with a partner in the Jianyang District of Nanping City, China, and new technological advancements we’re introducing to the waste treatment market, we are excited about the future for our company,” concluded Mr. Li.

 

Based on current visibility, management currently expects revenues for the full year 2024 to be in the range of $42.5 to $47.0 million, with net income in the range of $8.7 to $10.2 million. The midpoint of these ranges would represent growth of 30% for revenue and 35% for net income.

 

 

About CDT Environmental Technology Investment Holdings Limited

 

CDT, headquartered in Shenzhen, China, is a leading national player in China’s waste treatment sector that designs, develops, manufactures, sells, installs, operates and maintains sewage treatment systems and provides sewage treatment services in China, and is dedicated to promoting sustainable development through innovative solutions. Founded by pioneers in waste treatment, CDT aims to advance next-generation technologies that directly address environmental challenges and promote sustainable solutions. CDT is a recognized brand in China and is committed to innovation and customer satisfaction.

 

CDT’s mission is to help its customers achieve their critical infrastructure objectives while enabling positive change in technological environmental protection. It collaborates with industry leaders, environmental experts, and stakeholders to develop and implement advanced waste treatment solutions. Recently listed on the Nasdaq Capital Market, CDT is a prominent player in the waste treatment market, capable of providing comprehensive solutions to diverse customer needs, and has completed more than 150 plants across China.

 

For more information, visit CDT’s website at https://www.cdthb.cn.

 

Forward Looking Statements

 

This press release contains forward-looking statements that are based on the beliefs and assumptions of the management of CDT and on information currently available to such management. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond CDT’s control. Words such as “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. All statements, other than statements of historical fact, contained in this press release, including statements regarding future events, future financial performance, business strategy and plans, and objectives of CDT for future operations, are forward-looking statements. Although CDT does not make forward-looking statements unless it believes it has a reasonable basis for doing so, CDT cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievements of CDT and its markets to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on any forward-looking statement. CDT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

 

Investor and Media Contact

United States

 

Core IR

Peter Seltzberg, SVP Investor Relations and Corporate Advisory

investors@cdthb.cn

212-655-0924

www.CoreIR.com

 

 

 

CDT ENVIRONMENTAL TECHNOLOGY INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

 

		For the Years Ended
		December 31,
		2023				2022				2021
REVENUES
Sewage treatment systems		$	32,267,593			$	26,552,481			$	20,272,996
Sewage treatment services and others			1,942,326				2,296,881				3,283,824
Total revenues			34,209,919				28,849,362				23,556,820
COST OF REVENUES
Sewage treatment systems			21,630,216				17,170,669				12,816,882
Sewage treatment services and others			1,194,817				1,425,538				2,245,608
Total cost of revenues			22,825,033				18,596,207				15,062,490
GROSS PROFIT			11,384,886				10,253,155				8,494,330
OPERATING EXPENSES:
Selling			106,147				164,583				177,147
General and administrative			2,674,519				3,150,512				2,400,318
Research and development			80,948				112,668				136,690
(Recovery from) Provision for credit loss, net			(88,221	)			471,454				(1,865,622	)
Total operating expenses			2,773,393				3,899,217				848,533
INCOME FROM OPERATIONS			8,611,493				6,353,938				7,645,797
OTHER INCOME (EXPENSE)
Interest income			15,510				13,437				89,510
Interest expense			(106,130	)			(64,658	)			(68,656	)
Other (expense) income, net			(92,939	)			93,035				119,419
Total other (expense) income, net			(183,559	)			41,814				140,273
INCOME BEFORE INCOME TAXES			8,427,934				6,395,752				7,786,070
INCOME TAXES EXPENSE			1,403,880				1,152,963				1,207,810
NET INCOME			7,024,054				5,242,789				6,578,260
Less: net loss attributable to noncontrolling interest			(393,652	)			(539,229	)			(197,479	)
NET INCOME ATTRIBUTABLE TO CDT ENVIRONMENTAL TECHNOLOGY INVESTMENT HOLDINGS LIMITED		$	7,417,706			$	5,782,018			$	6,775,739
NET INCOME			7,024,054				5,242,789				6,578,260
FOREIGN CURRENCY TRANSLATION ADJUSTMENT			(497,722	)			(2,110,311	)			428,196
TOTAL COMPREHENSIVE INCOME			6,526,332				3,132,478				7,006,456
Less: Comprehensive loss attributable to noncontrolling interest			(372,574	)			(599,166	)			(116,532	)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CDT ENVIRONMENTAL TECHNOLOGY INVESTMENT HOLDINGS LIMITED		$	6,898,906			$	3,731,644			$	7,122,988
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES
Basic and diluted			9,200,000				9,200,000				9,200,000
EARNINGS PER SHARE
Basic and diluted		$	0.81			$	0.63			$	0.74

 

 

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