Business
ReTo Eco-Solutions, Inc. Subsidiary Receives Approval to Build Internet of Vehicle R&D Center and Recognition as a "Specialized and Innovative" Small and Medium-Sized Enterprise of Haikou City
BEIJING, Feb. 17, 2022 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (NASDAQ: RETO) ("ReTo" or the "Company"), a provider of technology solutions and operation
About this update from Reto Eco-solutions, Inc.
[{"type":"text","content":"BEIJING, Feb. 17, 2022 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (NASDAQ: RETO) (\"ReTo\" or the \"Company\"), a provider of technology solutions and operation services for intelligent ecological environments, announced today that ReTo's subsidiary, Hainan Yile IoT Technology Co., Ltd. (\"Yile IoT\") and its subsidiary Hainan Yile IoV Technology Research Institute Co., have been approved by the Haikou Science and Industry Information Bureau to establish the \"Haikou IoV Digital Applied Engineering Technology Research and Development Center\" (\"IoV Technology R&D Center\"). Yile IoT was also recognized as a 2021 \"Specialized and Innovative\" Small and Medium-sized Enterprise in Haikou.\nIn response to Hainan Province's science and technology innovation action plan, the IoV Technology R&D Center aims to further the future development of science and technology innovation in Hainan. As the first IoV science and technology innovation platform in the province, this center will be instrumental in consolidating the national resources of the IoV industry, continuing the research and development of key industrial technologies, accelerating the commercialization of technological achievements and developing technical services, business incubation, and innovative entrepreneurship. \nThe designation of a \"Specialized and Innovative\" Small and Medium-Sized Enterprise is awarded by Haikou City to enterprises operating in Haikou that are \"professional, refined, specialized, and innovative.\" Following the issuance of the Implementation Plan for Promoting the Development of \"Specialized and Innovative\" Small and Medium-Sized Enterprises in Hainan Province by Hainan Provincial Industry and Information Technology Department in June 2021, the municipality of Haikou recognized Yile IoT in the first batch of \"Specialized and Innovative\" Small and Medium-sized Enterprises for its focus on market segments, emphasis on its core business, its strength in innovation, and its positive growth record. \nMr. Hengfang Li, Chairman and CEO of ReTo, commented: \"Congratulations to Yile IoT for being recognized as a 'Specialized and Innovative' enterprise. This acknowledgement reflects recognition of Yile IoT's business model and achievements in its field. Receiving the approval and beginning preparation work for the IoV Technology R&D Center mark an impor...