Reto Eco Solutions Inc Stock Price, News & Analysis

ReTo Eco-Solutions (NASDAQ: RETO) reported a steep decline in financial performance for the fiscal year 2021, with total revenue plummeting by 57% to $3.6 million. The decrease is attributed to the ongoing effects of COVID-19, which disrupted supply chains and reduced demand, especially in the construction industry. Gross profit also saw a drastic drop of 81% to $0.4 million. The company's net loss grew significantly, reaching $21.1 million, compared to $11.8 million in the previous year. The CEO indicated plans to pivot the business strategy towards ecological and technological innovations.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced that its subsidiary, ReTo Technology Development Co., Ltd., has joined the Hainan Petroleum, Natural Gas and Chemical Industry Federation. This non-profit organization fosters collaboration among enterprises in these sectors and supports resource integration and operational standardization. Chairman Hengfang Li emphasized that the demand for environmental solutions in Hainan's Free Trade Port provides ReTo with significant business opportunities. The Company aims to leverage its IoT technologies to support the needs of the Federation's members.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the establishment of the "Haikou IoV Digital Applied Engineering Technology R&D Center" by its subsidiary, Hainan Yile IoT Technology Co., Ltd. The center aims to enhance technology innovation in Hainan and is recognized as the first IoV platform in the province. Yile IoT was also honored as a 2021 "Specialized and Innovative" Small and Medium-sized Enterprise in Haikou due to its focus on innovation and business growth. This development is pivotal for ReTo's IoV strategies.

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.