Summary by Moomoo AI
ReTo Eco-Solutions reported total revenue of $1.8M for H1 2024, up 49% YoY, with machinery sales contributing 61%, construction materials 8%, and technological services 31%. Gross profit increased significantly to $0.6M from $0.1M, with margin expanding to 31% from 8% YoY.Operating expenses decreased 77% to $1.6M, primarily due to reduced share-based compensation and lower payroll costs. Net loss narrowed to $0.7M from $11.6M in H1 2023. The company recorded other income of $0.6M from software copyright sale, compared to $4.4M expense last year.As of June 30, 2024, ReTo had cash of $1.6M and working capital of $0.3M. The company faces liquidity challenges with $5.3M in bank loans and $3.1M in third-party loans outstanding. Management is working to improve liquidity through operations, bank loan renewals and potential equity financing.
