Reto announces receipt of nasdaq delisting determination and plan to appeal

Beijing , feb. 4, 2025 /prnewswire/ -- reto eco-solutions, inc. (nasdaq: reto) ("reto" or the "company"), a manufacturer of equipment for production of eco-friendly materials in china, today announced that the company received a delisting determination notice from the nasdaq stock market llc ("nasdaq") on january 29, 2025, notifying the company that given its class a shares, par value us$0.10 per share (the "class a shares"), had a closing bid price at less than $1 over the previous 30 consecutive business days, the company is not in compliance with the minimum bid price requirement as set forth in listing rule 5550(a)(2). further, because the company is not eligible for any compliance period since the company has effected a reverse stock split over the prior one-year period, pursuant to listing rule 5810(c)(3)(a)(iv), the class a shares will be scheduled for delisting from nasdaq at the opening of business on february 7, 2025, unless the company requests an appeal of such determination to a hearings panel (the "panel").
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