ReTo Eco-Solutions Signs a Joint Venture Agreement To Develop Internet of Things and Logistics Business

ReTo Eco-Solutions, Inc. announced that its subsidiary, Yangpu Fangyuyuan United Logistics Co., has entered into a joint venture agreement with Hainan Yonghuiju Technology Co., an agricultural products logistics company in China, to jointly develop internet of things and logistics business.

Pursuant to the Agreement, Yangpu Fangyuyuan and Hainan Yonghuiju will collaborate on the digitalization of online logistics platform and supply chain system to support the sales and delivery of Hainan Yonghuiju’s fresh fruit products as the first project. The parties will also work together on the upgrade and advancement of the platform to optimize its operation and efficiency.

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Backed by ReTo, Yangpu Fangyuyuan will provide platform management and supply chain financing and digitalization services. Hainan Yonghuiju will utilize industry experience and resources in the logistics sector. Yangpu Fangyuyuan and Hainan Yonghuiju are committed to building a platform that empowers logistics company clients with new technologies and business models to offer better services for their customers of various sizes. The joint venture will serve as a hub that coordinates different resources and relationships to construct a scalable and efficient delivery service network for logistics companies.

Mr. Hengfang Li, Chairman and CEO of ReTo, commented: “The commitment from Hainan Yonghuiju is another example of how we are playing an essential role in helping our clients achieve the goal of digitalization in the logistics and transportation sector. We hope to expand our presence in the dynamic and growing logistics industry, better positioning ourselves to take advantage of new opportunities.  At ReTo, we’ll grow our logistics service network in China to meet customers’ demands, as well as building our intermodal shipping capacity.”

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