Reto Eco Solutions Inc - RETO STOCK NEWS

ReTo Eco-Solutions (NASDAQ: RETO) announces a collaboration with Tsinghua University for a research and development project aimed at enhancing ecological environments through a digital paving system for the Shougang area, designated for the 2022 Winter Olympics in Beijing. This project emphasizes sustainable construction materials and aims to create aesthetically pleasing and environmentally friendly roadways, improving design efficiency. The partnership combines ReTo's material expertise with Tsinghua's design innovation, marking a significant step in ReTo's commitment to ecological advancements in construction.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) has announced that it has regained compliance with Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of financial reports with the SEC. This follows the submission of its Annual Report on Form 20-F on October 30, 2020, and a subsequent close-out letter from Nasdaq on November 2, 2020. The Company emphasizes its commitment to ecological innovation and sustainable environmental solutions, aiming to provide products and services that improve ecological health through technology.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) reported financial results for 2019, revealing a revenue increase of 1% to approximately $29.6 million, primarily driven by a 53% surge in machinery and equipment sales. However, the company faced a net loss of $14.8 million, a stark contrast to the prior year's net income of $4.5 million. Significant operating expenses rose 68% to $15.5 million, largely due to bad debt and impairments. Looking ahead, ReTo aims to expand its international presence and product sales despite challenges posed by COVID-19.

ReTo Eco-Solutions (NASDAQ: RETO) announced a partnership with the People's Government of Yangbi County to develop a large-scale project covering 125 hectares, featuring an eco-friendly industrial park and an elderly wellness town. The project will use 58 hectares for industrial purposes and 67 hectares for wellness services. A geological survey is underway, with construction expected to begin in Q1 2021. This initiative aims to promote eco-tourism and enhance local healthcare facilities, leveraging government support and financial incentives.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced its 2020 Annual Meeting of Shareholders to be held on November 19, 2020, at 9:00 a.m. Beijing time. Only stockholders recorded by October 8, 2020, can vote. The meeting location is the company's headquarters in Beijing, and a virtual option will be available if necessary. Founded in 1999, ReTo specializes in ecological innovation and sustainable environmental solutions.

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ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as its shares traded below $1.00 for 30 consecutive business days. The compliance period lasts until March 3, 2021, during which ReTo must raise its bid price above $1.00 for at least 10 consecutive days to regain compliance. If unsuccessful, the company could qualify for an additional 180-day grace period to meet the requirement. The share price's current status could impact investor sentiment and market valuation.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) announced the commencement of construction for a new waste treatment center in Xinyi City, following delays due to COVID-19. The facility aims to process over 600,000 tons of construction waste annually, contributing to sustainability efforts by recycling waste into eco-friendly products. This project, initiated under a 5-year agreement with the Xinyi Municipal Government, aligns with ReTo's mission to enhance ecological environments. The Chairman emphasized the importance of solving ecological issues while ensuring returns for the community and clients.

ReTo Eco-Solutions (NASDAQ: RETO) announced the completion and acceptance of sewage treatment projects in Henan province, China, awarded for their technical excellence. The projects encompass four villages in Bo'ai County and aim to improve wastewater treatment and water quality by addressing untreated wastewater discharge. ReTo's systems have met national emission standards, supporting local government goals. The company aims to expand its ecological restoration projects and ongoing maintenance (O&M) services as part of its growth strategy.

ReTo Eco-Solutions, Inc. (NASDAQ: RETO) has received a Nasdaq extension allowing until October 31, 2020 to file its annual report on Form 20-F for the year ended December 31, 2019. This extension is necessary for compliance with Nasdaq Listing Rule 5250(c)(1), pertaining to timely filing of periodic reports with the SEC. The delay in filing is attributed to COVID-19-related auditing challenges in China. The Company assures that the audit is ongoing and expects to meet the new deadline to file the report.