Benzinga | Mar 4, 2021 08:06AM EST

ReTo Eco-Solutions Reports Its Ruitu Mingsheng Environmental Protection Building Materials Co. Won RMB10.71M Sales Contract With Sanya Guohong Municipal Engineering Construction Co.

ReTo Eco-Solutions, Inc. (NASDAQ:RETO) ("ReTo" or the "Company"), a provider of technology solutions for the improvement of ecological environments, today announced that its wholly owned operating unit Ruitu Mingsheng Environmental Protection Building Materials (Changjiang) Co., Ltd., won a sales contract worth RMB 10.71 million with Sanya Guohong Municipal Engineering Construction Co., Ltd., an influential State-owned enterprise with extensive sales channels and markets.

The two companies plan to expand the use of ReTo Eco-Solutions' environmentally friendly materials and equipment in construction projects, including ReTo' patented retaining bricks, which are used in a wide range of applications from construction and beatification projects to protection facilities in natural disasters including landslides and other disasters.

Mr. Li Hengfang, ReTo's Chairman and Chief Executive Officer, commented, "We continue to execute on our high-value, multi-stage business model, as we focus on building momentum and driving profitable revenue growth. With inherent sustainability and higher profit margins, our proprietary processing technology and equipment reduce the cost of waste by recapturing otherwise lost value in the recycling system. Importantly, we are right in the middle of the fast growing, global clean energy tech space, where demand far outstrips capacity. We continue to invest in our growth in support of our increased customer demand. At the same time, we are preparing for a future in which full value capture recycling will be the norm for manufacturers and municipalities across the globe."