Company: RETO
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001213900-25-087644
Chunk: 92

Company: ReTo Eco-Solutions, Inc.
Filing Date: 2025-09-15
Form: F-1
Chunk 92
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| Mr. Hengfang Li                 |     | Chief Executive Officer and Chairman of the Board of Directors, and shareholder of the Company |
| Q Green Techcon Private Limited |     | A non-controlling shareholder of disposal subsidiary                                           |

| (2) | Due from related parties |

As of December 31, 2024 and 2023, the balance due from related parties
was as follows:

|                 |     |   |        As of 
 December 31, 
         2024 |     |   |        As of 
 December 31, 
         2023 |
|:----------------|:----|:--|-------------:|:----|:--|-------------:|
| Mr. Hengfang Li |     | $ |       24,048 |     | $ |      358,659 |

| (3) | Sales to related party |

|                                 |     | For the year 
 ended        
 December 31, 
 2024         |         |     | For the year 
 ended        
 December 31, 
 2023         |   |     | For the year 
 ended        
 December 31, 
 2022         |    |
|:--------------------------------|:----|:-------------|--------:|:----|:-------------|:--|:----|:-------------|:---|
| Q Green Techcon Private Limited |     | $            | 229,600 |     | $            | - |     | $            | -- |

| (4) | Equity grants |

On June 4, 2022, the Company issued an aggregate
of Common shares to directors under the 2018 Share Incentive Plan and the 2021 Share Incentive Plan (Note 16).

On March 12, 2023, the Company issued an aggregate
of Common shares to directors under the 2022 Share Incentive Plan (Note 16).

On August 12, 2024, the Company issued an aggregate
of 1,1000 Common shares to directors under the 2022 Share Incentive Plan (Note 16).

F-25 RETO ECO-SOLUTIONS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 16– SHAREHOLDERS’ EQUITY Statutory Reserve The Company is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net income determined in accordance