Monitor the company's ability to collect receivables given the extremely high DSO of 1,206 days, which suggests severe collection issues with government clients. Evaluate whether the strategic shift to green hydrogen can generate revenue given the company's declining core business and history of net losses.
Executive Summary
CDT Environmental Technology Investment Holdings Ltd (CDTG) is a Cayman Islands holding company with operations in China focused on rural sewage treatment systems and services. The company is shifting focus to green hydrogen production from organic waste, but faces significant risks including a 42% revenue decline in H1 2025, extremely high days sales outstanding (1,206 days), and a history of net losses. The company is raising capital through a direct offering of up to 62 million shares at $0.105 per share, with 75% of proceeds allocated to new energy projects.
Key Financial Metrics
Key Facts
- Company is shifting focus from sewage treatment to green hydrogen production from organic waste
- Revenue declined 42.3% to $7.3M in H1 2025 from $12.7M in H1 2024
- Days sales outstanding increased dramatically to 1,206 days at June 30, 2025, up from 455 days at year-end 2024
- Company incurred a net loss of $1.3M in H1 2025 compared to net income of $1.4M in H1 2024
- Raising capital through direct offering of up to 62M shares at $0.105/share with no minimum offering amount
- 75% of offering proceeds will fund new energy projects, 15% for working capital, 10% for contingencies
Financial Impact
Revenue declined 42.3% to $7.3M in H1 2025, with net loss of $1.3M
Risk Factors
- Extremely high days sales outstanding (1,206 days) indicates severe collection issues with government clients
- 42% revenue decline in H1 2025 suggests weakening core business
- Company has history of net losses and may not achieve profitability
- Strategic shift to green hydrogen is unproven and may not generate revenue
- No minimum offering amount creates uncertainty about capital raising success
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| F-1 Filing (Primary) | 0001731122-26-000330 |
| Document: e7383_ex10-20.htm | 0001731122-26-000330 |
| Document: e7383_ex5-1.htm | 0001731122-26-000330 |
| Document: e7383_ex107.htm | 0001731122-26-000330 |
| Document: e7383_ex21-1.htm | 0001731122-26-000330 |
| Document: e7383_ex23-1.htm | 0001731122-26-000330 |
| Document: 0001731122-26-000330-index-headers.html | 0001731122-26-000330 |
| Document: 0001731122-26-000330-index.html | 0001731122-26-000330 |
| Document: 0001731122-26-000330.txt | 0001731122-26-000330 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 25, 2026 8w ago | 3 | $0.9800 | awaiting T+60 | — | $1.06 (−7.90%) |
Jul 28, 2026 13w ago | 6-K | $0.9502 $1.14 | ▼ −19.97% | ▼ −15.62% | $1.06 (−11.28%) |
Jul 7, 2026 16w ago | 6-K | $2.02 $1.22 | ▼ −39.60% | ▼ −41.60% | $1.06 (−47.65%) |
Jul 6, 2026 16w ago | 6-K | $2.14 $1.22 | ▲ +42.99% | ▲ +44.90% | $1.06 (+50.59%) |
May 28, 2026 21w ago | 6-K | $7.13 $1.18 | ▼ −83.44% | ▼ −85.17% | $1.06 (−85.16%) |
May 15, 2026 23w ago | 6-K | $8.63 $1.22 | ▲ +85.86% | ▲ +90.71% | $1.06 (+87.74%) |
May 15, 2026 23w ago | Press Release | $8.63 $1.22 | ▲ +85.86% | ▲ +90.71% | $1.06 (+87.74%) |
Apr 3, 2026 29w ago | 3 | $8.03 $2.12 | ▼ −73.58% | ▼ −87.05% | $1.06 (−86.82%) |
Mar 11, 2026 32w ago | EFFECT | $9.50 $6.93 | ▼ −27.05% | ▼ −38.57% | $1.06 (−88.87%) |
Mar 3, 2026 33w ago | F-1 | $0.3170 $0.2850 | ▲ +10.09% | ▲ +20.18% | $1.06 (−233.56%) |
US Market Status
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