Welcome to our dedicated page for ReTo Eco-Solutions news (Ticker: RETO), a resource for investors and traders seeking the latest updates and insights on ReTo Eco-Solutions stock.
ReTo Eco-Solutions, Inc. (Nasdaq: RETO) is a prominent manufacturer and distributor of eco-friendly construction materials, primarily based in China. The company specializes in producing fly-ash and other eco-friendly construction materials, alongside machinery and equipment used in their production. ReTo’s expertise extends to providing consultation, design, project implementation, and urban ecological construction services that capture, control, and reuse rainwater.
ReTo operates through four primary segments: Machinery and Equipment Sales, Construction Materials Sales, Municipal Construction Projects, and Technology Consulting and Other Services. A significant portion of the company's revenue comes from its Machinery and Equipment Sales segment, with the majority of its geographical revenue derived from China.
Founded in 1999, ReTo has developed proprietary technologies and systems aimed at ecological restoration and solid waste treatment. The company manufactures eco-friendly construction materials like aggregates, bricks, pavers, and tiles from mining waste, such as iron tailings, and produces soil remediation materials from solid waste. In addition, ReTo provides equipment for producing these environment-friendly materials.
ReTo recently announced several key developments:
- On October 2, 2023, ReTo entered into a securities purchase agreement for a registered direct offering of 15,000,000 common shares at $1.00 per share, raising $15,000,000.
- On October 18, 2023, ReTo received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company has until April 10, 2024, to regain compliance.
- From December 4 to 7, 2023, ReTo participated in the BIG 5 Global exhibition in Dubai, showcasing its innovative products and technologies.
- On December 27, 2023, ReTo reported a significant decrease in revenues and an increase in operating losses for the first half of 2023.
- In January 2024, ReTo faced a compliance issue with Nasdaq regarding stockholder equity but has been given time to submit a plan to regain compliance.
- On February 1, 2024, ReTo's board approved a ten-to-one share combination, effective March 1, 2024, to help maintain its Nasdaq listing.
- On May 15, 2024, ReTo filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC.
Despite facing financial challenges, ReTo continues to innovate and expand its operations in China and globally, contributing to sustainable construction and technological advancements.
For more information, please visit: ReTo Eco-Solutions
ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the acquisition of 100% equity in Hainan REIT Mingde Investment Holding Co., Ltd. for RMB 10 million. The deal, signed on December 27, 2021, grants ReTo access to Yile IoT Technology Co., Ltd., which specializes in IoT technologies for sectors including automobile rental and logistics. The acquisition aims to integrate Yile IoT's solutions to enhance ReTo's service offerings in ecological protection. The agreement is pending due diligence and regulatory approvals, with completion expected within 30 days of signing.
ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the results of its Special Meeting of Shareholders held on December 17, 2021, in Beijing. Shareholders approved the proposal from REIT Mingsheng Environmental Building Materials (Changjiang) Co., Ltd., which was submitted on December 8, 2021. ReTo focuses on technology solutions to improve ecological environments, offering environmentally-friendly construction materials and consulting services. The company aims to enhance clean water and soil availability globally, indicating its commitment to environmental sustainability.
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.
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