Company: RETO
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041195
Chunk: 47

Company: ReTo Eco-Solutions, Inc.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 47
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 42,367                -             
  Addition to intangible assets through long term account payable                                $                                         389,121      $                    -      $         -             
  Common shares issued for conversion of debt                                                    $                                               -      $            4,111,080      $         1,799,314     

The accompanying notes are an integral part of
these consolidated financial statements.

F-7

RETO ECO-SOLUTIONS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

ReTo Eco-Solutions, Inc. (“ ReTo”)
is a business company established under the laws of the British Virgin Islands on August 7, 2015 as a holding company to develop business
opportunities in the People’s Republic of China (the “ PRC” or “ China”). ReTo and its subsidiaries are collectively
referred to as the Company. ReTo, through its subsidiaries, is engaged in manufacture and distribution of ecological environment protection
equipment, intelligent mining equipment and related consultation and technological services for the years ended December 31, 2024,2023
and 2022.

As of December 31, 2024, the consolidated financial
statements of the Company reflected the principal activities of the entities listed below. All inter-company balances and transactions
have been eliminated upon consolidation.

  Name of the Entity                                                   Place of                            
                                                                       Incorporation                       
  ReTo Eco-Solutions, Inc.                                             British Virgin Islands      Parent  
  New REIT International Co., Limited (“ New REIT”)**                  Hong Kong, China               100  
  Sunoro Holdings Limited (“ Sunoro Holdings”)                         Hong Kong, China               100  
  Beijing ReTo Hengda Technology Co., Ltd. (“ Reto Hengda”)*           Beijing, China                 100  
  Beijing REIT Equipment Technology Co., Ltd. (“ REIT Equipment”)      Beijing, China                 100  
  Honghe ReTo Ecological Technology Co., Ltd. (“ Honghe ReTo”)         Yunnan, China                  100  
  Beijing ReTo Hengye Technology Co., Ltd., (“ ReTo Hengye”)*          Beijing, China                 100  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────

  * On April 8, 2025, Sunoro Hengda (Beijing) Technology Co., Ltd. was