Subsidiary of ReTo Eco-Solutions Wins Bid to Supply Block Machines for Real Estate Construction Project in Beijing

BEIJING, March 10, 2023 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (the "Company") today announced that its subsidiary, Beijing REIT Technology Development Co., Ltd. ("Beijing REIT"), has won the bid to supply professional block making machines for a real estate construction project implemented in Beijing City by Zhongjian Yipin Property Management Co., Ltd ("Zhongjian Yipin"), a subsidiary of Zhongjian Sanju Construction Engineering Company Limited, a state-owned company involved in the utilization of construction waste renewable resources in China.

Pursuant to the contract signed, Beijing REIT will supply mobile model RT6 block machines production line for the recycling of construction waste to Zhongjian Yipin for its Beijing real estate project. The model RT6 is the latest mobile model developed by Beijing REIT relying on its specialized technologies that helps tailor the machineries for different clients while ensure high product quality and cost-efficient services.

Mr. Hengfang Li, Chairman and CEO of the Company, commented: "We are excited to win the bid, which is a further demonstration in terms of our technical strength and high levels of customer acceptance. The machines will adopt convenient, flexible and advanced production technology, integrated and mobile methods, and make high-end building materials through classification and comprehensive treatment of construction waste at the demolition site, which will be used in construction, turning waste into treasure while protecting the environment. It's in line with the company's philosophy of 'using technology to improve ecology'. RETO will continue our efforts in innovation of block forming equipment and technologies and provide more advanced technology and services to the market ."

About ReTo Eco-Solutions, Inc.

Founded in 1999, ReTo, through its proprietary technologies, systems and solutions, is striving to bring clean water and fertile soil to communities worldwide. The Company, through its operating subsidiaries in China, is engaged in the manufacture and distribution of eco-friendly construction materials (aggregates, bricks, pavers and tiles), made from mining waste (iron tailings), as well as equipment used for the production of these eco-friendly construction materials. In addition, the Company provides consultation, design, project implementation and construction of urban ecological protection projects and parts, engineering support, consulting, technical advice and service, and other project-related solutions for its manufacturing equipment and environmental protection projects. The Company also offers roadside assistance services and software development services utilizing Internet of Things technologies. For more information, please visit: http://en.retoeco.com.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies, including those related to the EOD Project,  the Company's future business development such as municipal construction projects; product and service demand and acceptance; changes in technology; economic conditions; the growth of the industries in China in which the Company operates; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other uncertainties and risks contained in reports filed by the Company with the Securities and Exchange Commission (the "SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

ReTo Eco-Solutions, Inc.
Angela Hu
Beijing Phone: +86-010-64827328
[email protected] or [email protected]

SOURCE ReTo Eco-Solutions, Inc.