Shares of Chinese construction materials maker ReTo Eco-Solutions, Inc. (RETO) are up more than 30% Thursday morning after Ruitu Mingsheng Environmental Protection Building Materials (Changjiang) Co., Ltd., a unit of the company, received a sales contract worth RMB 10.71 million from Sanya Guohong Municipal Engineering Construction Co., Ltd.
The companies plan to expand the use ReTo Eco-Solutions’ environmental-friendly materials and equipment, including ReTo’ patented, retaining bricks, in construction projects.
RETO, currently at $2.25, has been trading in the range of $0.30- $3.66 in the last one year.
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