Subsidiary of ReTo Eco-Solutions Signs a Joint Venture Agreement To Develop Internet of Things and Logistics Business

BEIJING, Feb. 24, 2023 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) ("ReTo") today announced that its subsidiary, Yangpu Fangyuyuan United Logistics Co. ("Yangpu Fangyuyuan"), has entered into a joint venture agreement (the "Agreement") with Hainan Yonghuiju Technology Co. ("Hainan Yonghuiju"), an agricultural products logistics company in China, to jointly develop internet of things and logistics business.

Pursuant to the Agreement, Yangpu Fangyuyuan and Hainan Yonghuiju will collaborate on the digitalization of online logistics platform and supply chain system to support the sales and delivery of Hainan Yonghuiju's fresh fruit products as the first project. The parties will also work together on the upgrade and advancement of the platform to optimize its operation and efficiency.

Backed by ReTo, Yangpu Fangyuyuan will provide platform management and supply chain financing and digitalization services. Hainan Yonghuiju will utilize industry experience and resources in the logistics sector. Yangpu Fangyuyuan and Hainan Yonghuiju are committed to building a platform that empowers logistics company clients with new technologies and business models to offer better services for their customers of various sizes. The joint venture will serve as a hub that coordinates different resources and relationships to construct a scalable and efficient delivery service network for logistics companies.

Mr. Hengfang Li, Chairman and CEO of ReTo, commented: "The commitment from Hainan Yonghuiju is another example of how we are playing an essential role in helping our clients achieve the goal of digitalization in the logistics and transportation sector. We hope to expand our presence in the dynamic and growing logistics industry, better positioning ourselves to take advantage of new opportunities.  At ReTo, we'll grow our logistics service network in China to meet customers' demands, as well as building our intermodal shipping capacity."

About Hainan Yonghuiju Technology Co.

Hainan Yonghuiju Technology Co. is responsible for the operation of "Sanya Municipal Government Agricultural Products Distribution Office" in Zhengzhou and has a stable sales network of agricultural products in East China, North China and Southwest China. It has been expanding into new areas and markets based on local resources and advantages with strong support from the municipal government and the bureau of agricultural reclamation. At present, Hainan Yonghuiju provide agricultural products LTL transportation services covering Beijing, Zhengzhou, Jinan, Shanghai, Jiaxing, Hangzhou, Chongqing, Chengdu, Guangzhou and other large and medium-sized cities where it has a sales office in each city.

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. ReTo, 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, ReTo 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. ReTo 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 ReTo 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: ReTo's goals and strategies, including those related to ReTo's future business development such as supply chain service offering; product and service demand and acceptance; changes in technology; economic conditions; the growth of the industries in China in which ReTo 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 ReTo 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 ReTo's filings with the SEC, which are available for review at www.sec.gov. ReTo 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.