Beijing, China – August 9, 2022 – ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (the “Company”) today announced that the consortium led by the Company’s subsidiary REIT Ecological Technology Co.,Ltd. (“REIT Eco”) has won the bid for the Longxi County Comprehensive Land Management and Logistics Zone (Yangjia River Band) EOD Project, an ecological oriented development project in Longxi County, Gansu Province, China(the “EOD Project”).

Pursuant to the bidding documents, the EOD Project involves a total investment of RMB1.318 billion (approximately $195.02 million). REIT Eco and Hainan Shiyuan Tongda Private Equity Fund Management Co., Ltd. will jointly establish a project company in Longxi County, which will be responsible for the investment and financing, project management and operation, and other work required to complete the EOD Project. ReTo and the other shareholder of the project company are expected to receive an annualized return of 12% on their total investment at the end of the three year term of the EOD project. 

The EOD Project mainly consists of three parts. First part includes land reclamation and supporting rural road construction, which involves a total of ten sub-projects that span 60,000 mu (approximately 9,884 acres) of land across the Longxi County. The second part involves land acquisition for the Logistics Zone (Yangjia River Band). The third part includes work on land development and municipal infrastructure construction that ensure water and electricity supply, road and communication establishment as well as drainage and other needed land leveling works.

Mr. Hengfang Li, Chairman and CEO of the Company commented, “The Company has been working for many years in the fields of comprehensive land management, soil remediation, mine ecological restoration, solid waste utilization, sewage treatment and domestic waste treatment. With our business growth, the Company strives to become a provider of leading intelligent environmental and ecological solutions and operation services in China.”