ReTo Eco-Solutions, Inc. (RETO) is an innovative company engaged in the manufacture of eco-friendly building material, ecological protection tools, and production of tools for manufacturing eco-friendly building material, consultation, designing, and installation for the restoration of ecological soil using solid waste management treatment.
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The price of RETO stock during the regular trading on January 19, 2022, was $2.16 with a notable surge of 22.03%. At last check in the aftermarket, the stock dropped by 8.33%.
RETO: Events and Happenings
On January 4, 2022, RETO reported about one of its subsidiaries regarding its entry into an Equity Acquisition contract with Hainan REIT Mingde Investment Holding Company Limited and the company’s two sellers for the acquisition of REIT Mingde’s 100% equity interest.
RETO: CEO Comments
Speaking at the occasion, Hengfang Li, CEO of RETO said that the transaction enabled the company the integration of Yile IoT’s tech into the company and speed up the development of the company’s business. He further added that the company strived hard to become a tech-driven provider of platforms for eco-protection businesses.
On December 17, 2021, RETO reported the outcomes of its Special Meeting of Stockholders held on the same day. The stockholders accepted and implemented the suggestion of REIT Mingsheng Environmental Building Materials Company Ltd., (submitted for consent on December 8, 2021).
On November 24, 2021, RETO reported the outcomes of its Annual General Meeting of Stockholders 2021 held on November 23, 2021. The stockholders elected seven directors, approved the appointment of the company’s independent registered public accounting firm, and ratified Equity Incentive Plan 2021.
On November 15, 2021, RETO reported the receipt of notification regarding regaining its compliance with the least bid price condition of $1.00 per share by the NASDAQ.
RETO: Key Financials
On October 27, 2021, RETO reported its financial results for the H1 of the financial year ended June 30, 2021. Some of the key updates are as follows.
Revenue
Revenue for the H1 2021 was reported to be $2.2 million, a decrease of 27% was observed compared to the same period of 2020 when it was $3.1 million.
Net Loss per Share
Basic and diluted net loss for H1 2021 was $8.8 million or $0.34 per share, against $3.9 million or $0.10 per share, for the same period of 2020.
Conclusion
The company outperformed in the last six months period as demonstrated by a 105% surge in its stock due to its strong policies. The company also traded well in regular trading but lost its momentum in the current aftermarket because of the uncertainty in the market environment. The analysts are predicting that the company is in good shape to pull the interest of the investors.
