CDTG · CDT Environmental Technology Investment Holdings Limited ordinary shares

Summary

CDT Environmental Technology Investment Holdings Limited, a Cayman Islands holding company, operates through PRC subsidiaries providing sewage treatment systems and services in urban and rural areas using proprietary quick separation technology. The company designs, manufactures, sells, installs, operates, and maintains decentralized rural sewage treatment systems with capacities of 5-500 tons per day, and offers septic tank treatment via mobile and fixed systems. For the six months ended June 30, 2025, revenues were $7.3 million (down 42.3% YoY), with gross profit of $2.9 million (39.9% margin) and a net loss of $1.3 million. Full-year 2024 revenues were $29.8 million (down 13.0% YoY), with net income of $1.4 million. As of June 30, 2025, the company had $175,877 cash, $51.6 million net accounts receivable, and $6.8 million short-term debt. Shares trade on Nasdaq Capital Market under 'CDTG' at $0.2314 (March 2, 2026 close). The company is offering up to 62,000,000 Class A ordinary shares at $0.105 per share in a best-efforts direct offering with no minimum, expecting ~$6.3 million net proceeds (75% for new energy projects, 15% working capital, 10% contingencies). This capital raises aims to fund green hydrogen transformation from organic waste gasification, leveraging collaborations like Guangzhou Institute of Energy Conversion, amid rural wastewater market growth to RMB 200 billion by 2030.

Key takeaways

• Offering up to 62,000,000 Class A ordinary shares at $0.105/share, best-efforts with no minimum, expecting $6.3M net proceeds.
• H1 2025 revenues $7.3M (down 42.3% YoY from $12.7M), net loss $1.3M; FY2024 revenues $29.8M (down 13% YoY), net income $1.4M.
• 75% of proceeds for new energy project development (organic waste-to-hydrogen gasification), 15% working capital, 10% contingencies.
• Proprietary quick separation technology for rural sewage treatment; completed 60+ plants with 3,400 tons/day capacity in Fujian, Jiangxi, Liaoning.
• As of June 30, 2025: $175K cash, $51.6M net AR (1,206 DSO), $6.8M short-term debt; 76 employees, all in China.
• Strategic shift to green hydrogen in 2025 via GIEC collaboration; septic services winding down.
• Key risks: PRC operations (VIE-free direct holding), customer concentration (top 3 H1 2025: 92.4% revenue), high DSO (1,206 days), Nasdaq bid price non-compliance.