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RETO ECO-SOLUTIONS RESUMES FULL PRODUCTION AND BUSINESS OPERATIONS; COMPANY DONATES MEDICAL SUPPLIES TO DALII, YUNNAN PROVINCE
Beijing, China – March 16, 2020 – ReTo Eco-Solutions, Inc. (the “Company,” “we” or “Reto”) (NASDAQ: RETO), a full spectrum provider of products and services, ranging from the production of environmentally-friendly construction materials and manufacturing equipment used to produce construction materials, to project consulting, design and installation, today announced it has resumed full production and business operations now that the spread of the Coronavirus (“COVID-19”) has been contained in areas where its manufacturing facilities are located, including in the Jiangsu and Hainan Provinces. Reflecting the Company’s commitment to social responsibility, it has now donated much needed medical supplies, including 10,000 medical masks to the Dali City of Yunnan Province to help the local government’s ongoing COVID-19 mitigation efforts.
Mr. Li Hengfang, ReTo Eco-Solution’s Chairman and Chief Executive Officer, commented, “We put the health and safety of our employees and customers at the forefront, as we implemented measures in full compliance with the Chinese government’s public health regulations and policies. This includes frequent and stringent cleaning of all facilities and work spaces, employee health monitoring, staggered work shifts, social distancing and telecommuting. We are fortunate to have had no confirmed instances of employee infections. Importantly, while we have received rigid government inspection and permission to resume full production and business operations, we continue to closely monitor the fluid situation. We stand fully ready to take additional actions as the situation warrants.”
Mr. Li Hengfang, continued, “As we move forward with an abundance of caution, we are working to adjust production and delivery schedules to meet the needs of our customers, with added flexibility for customers that have been directly impacted by the COVID-19 virus or by supply chain and logistic delays. We expect the prolonged post-Chinese New Year delay impact on our business will be mitigated with a shift – rather than a loss of – demand as we move through 2020. Along with the recent improvement of the environment in China and move to institute aggressive control and virus mitigation measures worldwide, we have started to see a resumption of both customer orders and prepayments. Adding to our confidence is the government’s efforts to further speed clean environment investments and program initiatives, which we are positioned to both help and mutually benefit from over the long-term.”
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, Mongolia, Middle East, India, South Asia, North Africa, Maldives and Brazil.
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. 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 the construction industry in China; 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 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.
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