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ReTo Eco-Solutions, Inc. and JD.com Partner in Sustainable Building Push
BEIJING--(BUSINESS WIRE)-- JD.com, China’s largest retailer, and ReTo Eco-Solutions (NASDAQ:RETO) (“ReTo” or the “Company”), a leading provider of comprehensive eco-solutions and one of China’s largest manufacturer of environmentally friendly construction materials, are paving the way for more sustainable development in the country. The Partnership announced today comes as the sustainability movement has been picking up steam in China in the last few years, and consumers are increasingly looking for ways to reduce their carbon footprints. Through the purchase of products such as ReTo’s signature eco-friendly paving tiles, businesses and individual customers on JD’s e-commerce platform will be able to minimize carbon emissions and ensure that their buildings are energy efficient.
JD and ReTo will collaborate on a range of strategic initiatives, including eco-friendly construction materials, eco-towns, and smart cities, among others. Working with the China Academy of Building Research, the two companies also committed to establishing a joint research program to develop and promote eco-friendly products and technologies in family eco-system.
“We could not have a better partner than JD in our ambition to ensure that the buildings of the future are more sustainable,” said Hengfang Li, Chairman and CEO of ReTo. “Access to JD’s vast user base of over 300 million customers means we can bring our eco-friendly innovations to more people than ever before. Tapping into JD’s advanced capabilities in AI and robotics will help further our development of ecofriendly building innovations.”
“Our research shows that customers are increasingly looking for ways to decrease their carbon footprint and to live more sustainable lives”, said Lijun Xin, President of JD Home and Life. “This new partnership with ReTo, China’s definitive leader in environmentally friendly manufacturing, allows JD to add significantly to our selection of sustainable products and to further our overall sustainability goals.”
JD has been increasing the range sustainable products available on its platform. Last year, the total volume of green products available on JD increased by over 54% and the total volume of green purchases made on JD increased by 71%, contributing to 15% of total sales on the platform during the same period. In addition, JD has been consistently reducing its own operations’ impact on the environment, initiating a companywide switch to electric logistics vehicles earlier in the year, among a host of other initiatives.
About Reto Eco-Solutions, Inc.
Founded in 1999 and headquartered in Beijing, ReTo is a manufacturer and distributor of eco-friendly construction materials (aggregates, bricks, pavers and tiles), made from mining waste (iron tailings) and fly-ash, as well as equipment used for the production of these eco-friendly construction materials. The Company also provides a full range of eco-friendly project solutions, including consultation, design, project implementation and construction, relating to all stages of sponge-city projects for customers. The Company’s clients are located or have been located in mainland China, and internationally, including Canada, the United States, Middle East, India, Maldives North Africa and Brazil. For more information, please visit: http://en.retoeco.com/.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. 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. Specifically, the Company's statements regarding: 1) the Company’s continued growth and business outlook; 2) the Company’s ability to increase market penetration of existing products; 3) the Company’s ability to develop new products; and 4) the Company’s ability to expand its geographical outreach in domestic and international markets are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of construction in China and internationally; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and internationally and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. 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 U.S. Securities and Exchange Commission, 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:
At the Company:
Tony Tian, CFA
Weitian Group LLC