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BEIJING - ReTo Eco-Solutions, Inc. (NASDAQ:RETO), a company specializing in ecological and IoT technology services, has announced a new contract valued at approximately $2 million, representing over half of the company's trailing twelve-month revenue of $3.84 million. According to InvestingPro data, the company has been facing challenges with a 20% year-over-year revenue decline. The agreement, secured by its subsidiary Beijing REIT Equipment Technology Co., Ltd., is for the sale of the RT18A, a fully automatic concrete block machine, to a client in the United Arab Emirates.
The RT18A represents the latest development in large-scale, fully automatic concrete block production lines from REIT Equipment. It is designed to enhance both performance and user experience, offering a stable and reliable operation. The machine's versatility enables it to produce a wide array of products, aiming to deliver substantial value to customers in the construction sector.
Mr. Hengfang Li, Chairman and CEO of ReTo, expressed confidence in the company's deepening cooperation with Middle Eastern clients, emphasizing a commitment to mutual benefit and the continuous creation of value for their customers through superior products and services. However, InvestingPro analysis reveals the company faces significant financial challenges, with an EBITDA of -$4.34 million and a weak overall financial health score. InvestingPro subscribers have access to 15 additional key insights about RETO's financial position and market performance.
ReTo Eco-Solutions, which was founded in 1999, has been actively engaged in providing ecological restoration and solid waste treatment solutions. With a current market capitalization of $18.38 million and trading at $0.91 per share, the stock has experienced significant volatility, having declined by over 84% in the past year. Discover comprehensive financial analysis and real-time updates with InvestingPro. The company manufactures eco-friendly construction materials from mining waste and offers soil remediation materials, as well as the equipment necessary for producing these materials. Additionally, ReTo provides consultation, design, project implementation, and construction services for urban ecological protection projects, alongside offering roadside assistance and IoT technology development services.
The information in this article is based on a press release statement from ReTo Eco-Solutions, Inc. The company has cautioned that the press release contains forward-looking statements, which are subject to various factors and uncertainties that could cause actual results to differ from those projected. Investors are advised not to place undue reliance on these forward-looking statements, which have not been revised to reflect events or circumstances occurring after the date of the press release.
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