- CDT Environmental Technology (CDTG, Financial) saw a 13% decrease in FY2024 revenue to $29.8 million amid China's economic slowdown.
- The company's net income sharply fell by 80% to $1.4 million, primarily due to increased credit loss provisions.
- Despite financial challenges, CDT improved its gross profit margin to 37.4% from 33.0% through enhanced operational efficiency.
CDT Environmental Technology (CDTG) has released its financial results for the fiscal year 2024, revealing a decline in revenue and net income primarily due to weakened demand amidst economic challenges in China. The company reported a revenue of $29.8 million, marking a 13% year-over-year decrease, while net income dropped by 80% to $1.4 million. This substantial decline was primarily attributed to increased credit loss provisions, which significantly impacted operating expenses.
Despite these setbacks, CDT managed to improve its gross profit margin to 37.4%, up from 33.0% the previous year, a testament to its operational efficiency and cost-control measures. The company’s working capital also saw a slight increase, rising to $26.0 million from $24.2 million, ensuring adequate liquidity for its operations.
As of March 2025, CDT has two ongoing projects in its backlog—the Xinjiang Project and the Sichuan Anya Project—with a combined contract value of approximately $15.4 million. These projects aim to provide some revenue visibility in the coming months.
In a bid to diversify its revenue streams, CDT is exploring waste-to-energy initiatives. The company is collaborating with academic and industry partners to develop technologies for converting organic solid waste into renewable energy. While these projects remain in the planning stages, they represent a strategic pivot towards sustainable energy solutions, potentially aligning with China's carbon neutrality goals.
