Note 25: Subsequent event

On February 20, 2025, the Company approved a share repurchase program to repurchase up to 350,000 ordinary shares, for an aggregate purchase price of not more than US$500,000 over a period of one year.

On March 3, 2025, Euro Tech Global Pte. Limited, a Singapore company was incorporated as a wholly-owned subsidiary of the Company.

In accordance with ASC 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before consolidated financial statements are issued, the Company evaluated all events and transactions that occurred after December 31, 2024, up through the date the Company issued the audited consolidated financial statements. Other than the event disclosed above, there was no other subsequent events occurred that would require recognition or disclosure in the Company’s audited consolidated financial statements.