ReTo Eco-Solutions, Inc. - RETO STOCK NEWS

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced results from its 2021 Annual General Meeting of Shareholders held on November 23, 2021. Key outcomes included the election of seven directors, ratification of YCM CPA, Inc. as the independent accounting firm for the fiscal year ending December 31, 2021, and approval of the 2021 Equity Incentive Plan. Founded in 1999, ReTo focuses on technologies for ecological improvements, offering products and services for environmental construction and restoration.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) has regained compliance with the Nasdaq minimum bid price requirement, achieving a closing bid price of $1.00 per share or greater for 10 consecutive business days from October 28 to November 10, 2021. This compliance restores its listing status on Nasdaq, which is essential for maintaining investor confidence. ReTo specializes in technology solutions for ecological improvements, including environmentally-friendly construction materials and soil restoration.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) has filed a proxy statement for its 2021 annual stockholder meeting, scheduled for November 23, 2021, at 9:00 a.m. Beijing Time. Stockholders will vote on several proposals, including the election of seven directors, ratification of YCM CPA, Inc. as the independent auditor, and approval of the 2021 Equity Incentive Plan. The Company encourages all stockholders to vote, regardless of attendance. The proxy statement is available on the SEC website for interested parties.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) reported a 27% decline in revenue for H1 2021, totaling $2.28 million, largely attributed to the COVID-19 pandemic impacting demand. Machinery sales fell 13% while construction materials dropped 33%, with municipal projects decreasing to zero. The company faced a net loss of $8.87 million or $0.34 per share. Despite these challenges, ReTo is refocusing on ecological technology and has initiated a solid waste recycling project in Hainan with an expected annual revenue of approximately $43.7 million when completed.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced it received a Notification Letter from Nasdaq on September 7, 2021, indicating non-compliance with the minimum bid price requirement. The company's stock price fell below $1.00 for 30 consecutive days from July 26 to September 3, 2021. ReTo has until March 7, 2022, to rectify this issue, potentially through a reverse share split. Importantly, the Notification does not currently affect its Nasdaq listing, and business operations remain unaffected.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the progression of its iron tailings project in Hainan Province, which aims for a treatment capacity of three million tons. The project is projected to generate annual sales of approximately RMB 280 million (US$43.7 million) upon completion. As of June 2021, significant construction milestones have been achieved, and completion is expected by early October 2021. The project emphasizes ReTo's commitment to ecological management and innovative waste recycling solutions, projecting a gross profit of RMB 131 million (US$20.4 million).

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the launch of its iron tailings project in Hainan Province, marking a significant step in its eco-friendly initiatives. Through its subsidiary, the project will treat three million tons of solid waste, generating expected annual sales of approximately RMB 280 million (US$43.7 million) upon completion. The construction, including a completed factory foundation, is set to finish by early October 2021. The initiative underscores ReTo's commitment to improving ecological environments and aims to produce an estimated gross profit of RMB 131 million (US$20.4 million).

ReTo Eco-Solutions (NASDAQ: RETO) announced a new iron tailings project in Hainan Province with a treatment capacity of three million tons. This initiative is expected to yield approximately RMB 280 million (around US$43.7 million) in annual sales and generate RMB 131 million (about US$20.4 million) in gross profit. The project aims to address significant environmental challenges associated with iron ore waste while utilizing advanced technologies for production. ReTo, a leader in ecological restoration, emphasizes its commitment to sustainable practices in the region.

ReTo Eco-Solutions (NASDAQ: RETO) has partnered with the Guangling County government in Shanxi Province for the Cultural Tourism and Ecological Restoration of Shuishentang. The project, initiated in May 2021, has a budget of RMB 600 million and aims to restore wetlands in the Huliu River Basin over four years. A key component includes upgrading cultural relics to a 4A-level scenic spot with an additional budget of RMB 80 million. This partnership is expected to enhance local society and economy while generating profits for ReTo.