# EDGAR Filing Document

**Accession Number:** 0001687277
**File Stem:** 0001213900-26-012491
**Filing Date:** 2026-2
**Character Count:** 48193
**Document Hash:** d54f61285ce7f1fd7344b531297e7043
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-012491.hdr.sgml**: 20260205

**ACCESSION NUMBER**: 0001213900-26-012491

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 19

**FILED AS OF DATE**: 20260205

**DATE AS OF CHANGE**: 20260204

**EFFECTIVENESS DATE**: 20260205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ReTo Eco-Solutions, Inc.
- **CENTRAL INDEX KEY:** 0001687277
- **STANDARD INDUSTRIAL CLASSIFICATION:** ABRASIVE ASBESTOS & MISC NONMETALLIC MINERAL PRODUCTS [3290]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293215
- **FILM NUMBER:** 26600173

**BUSINESS ADDRESS:**
- **STREET 1:** X-702, 60 ANLI ROAD, CHAOYANG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100101
- **BUSINESS PHONE:** (86) 10-64827328

**MAIL ADDRESS:**
- **STREET 1:** X-702, 60 ANLI ROAD, CHAOYANG DISTRICT
- **CITY:** BEIJING
- **STATE:** F4
- **ZIP:** 100101

**As filed with the Securities and Exchange Commission on February 4, 2026**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**ReTo Eco-Solutions, Inc.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **British Virgin Islands** | **Not Applicable** |
| (State or Other Jurisdiction of<br> Incorporation or Organization) | (IRS Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **X-702, 60 Anli Road, Chaoyang District Beijing,<br> People's Republic of China** | **100101** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

---

| |
|:---|
| **ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan** |
| &nbsp;&nbsp;(Full Title of the Plan) |

---

**Vcorp Agent Services, Inc.**

**25 Robert Pitt Dr., Suite 204**

**Monsey, New York 10952**

(Name and address of agent for service)

**Tel: (888) 528-2677**

(Telephone number, including area code, of agent for service)

***With copies to:***

**Wei Wang, Esq.**<br> **Ellenoff Grossman & Schole LLP**<br> **1345 Avenue of the Americas, 11th Floor**<br> **New York, NY 10105**<br> **Phone: (212) 370-1300**<br> **Fax: (212) 370-7889**<br>

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Securities Exchange Act of 1934 (the "Exchange Act").

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 (the "Registration Statement") is being filed by ReTo Eco-Solutions, Inc., a British Virgin Islands business company, registered in the British Virgin Islands with company number 1885527 (the "Company", "we", "us", "our" or similar terminology) relating to an aggregate of 454,399 class A shares, no par value (the "Class A Shares"), as a result of the share reserve increase and the automatic semi-annual increase of share reserve under ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan, as amended at the Company's 2025 Annual General Meeting of Shareholders held on December 23, 2025 (the "2022 Plan").

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

**Item 1. Plan Information.\***

**Item 2. Registrant Information and Employee Plan Annual Information.\***

\* The document(s) containing the information specified in this Part I of Registration Statement will be sent or given to participants in the 2022 Plan as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the "Securities Act"). Such documents need not be filed with the SEC either as part of this Registration Statement or as a prospectus or prospectus supplements pursuant to Rule 424. The documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Form S-8, when taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The Company is subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Securities and Exchange Commission (the "SEC") maintains a website (www.sec.gov) that contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC, including the Company. The following documents filed or furnished by the Company with the SEC are incorporated herein by reference:

● our 2024 Annual Report on [Form 20-F](https://www.sec.gov/Archives/edgar/data/1687277/000121390025041195/ea0241187-20f_retoeco.htm) for the fiscal year ended December 31, 2024 filed with the SEC on May 9, 2025;

● our Reports of Foreign Private Issuer on Form 6-K furnished to the SEC on [December 29, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025125835/ea0270837-6k_reto.htm) , [November 21, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025113636/ea0266632-01.htm) , [November 13, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025110111/ea0265462-6k_reto.htm) , [October 30, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025103733/ea0262806-6k_reto.htm) , [October 24, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025101774/ea0262295-6k_reto.htm) , [October 17, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025100041/ea0261596-6k_reto.htm) , [June 23, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025056698/ea0246225-6k_retoeco.htm) , [May 30, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025049536/ea0243930-6k_retoeco.htm) and [May 13, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025042656/ea0241741-6k_retoeco.htm) , and Form 6-K/A furnished to the SEC on [July 31, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025070043/ea0251085-6ka2_retoecosol.htm) and [July 11, 2025](https://www.sec.gov/Archives/edgar/data/1687277/000121390025063325/ea0248507-6ka1_retoeco.htm) , including all the exhibits thereto;

● the description of the Company's shares contained in the [Form 8-A12B](https://www.sec.gov/Archives/edgar/data/1687277/000121390017012677/f8a12b111017_retoecosolution.htm) , filed with the SEC on November 28, 2017, and any further amendment or report filed hereafter for the purpose of updating such description; and

● with respect to each offering of the securities under this prospectus, all our subsequent annual reports on Form 20-F and any report on Form 6-K that indicates that it is being incorporated by reference that we file or furnish with the SEC on or after the date on which the registration statement is first filed with the SEC and until the termination or completion of the offering by means of this prospectus.

Except to the extent such information is deemed furnished and not filed pursuant to securities laws and regulations, all documents that we file with the SEC pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act and, to the extent specifically designated therein, reports on Form 6-K furnished by the Company to the SEC, in each case, subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement (that indicates that all securities offered under this Registration Statement have been sold or that deregisters all securities then remaining unsold) shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing or furnishing of such documents.

Any statement contained herein or in a document all or a portion of which is incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Upon written or oral request, we shall provide without charge to each person, including any beneficial owner, a copy of any or all of the documents that are incorporated by reference to this Registration Statement but not delivered with this Registration Statement. You may request a copy of these filings by contacting us at ReTo Eco-Solutions, Inc., X-702, 60 Anli Road, Chaoyang District, Beijing, People's Republic of China 100101, Attention: Chief Executive Officer, Telephone: (+86) 10-64827328.

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

None.

**Item 6. Indemnification of Directors and Officers.**

The Business Companies Act (Revised Edition) (the "Act") allows a BVI company to indemnify any current or former director against any expense, judgment, fine or amount paid in settlement and reasonably incurred in connection with any legal, administrative or investigative proceedings brought against the director because the director served as a director of the company if: (i) the director acted honestly and in good faith and in what the director believed to be in the best interests of the company; and (iii) (in the case of criminal proceedings) the director had no reasonable cause to believe that the director's conduct was unlawful.. A company will not indemnify a director in breach of its duty to act honestly and in good faith. Any indemnity given in breach of this is void and of no effect.

The Act allows a BVI company to pay any expenses incurred by any current or former director in defending any legal, administrative or investigative proceedings before the proceedings are finally concluded if the company is given an undertaking from, or on behalf of, the director to repay all amounts paid by the company if it is ultimately determined that the director is not entitled to be indemnified by the company.

Under the memorandum and articles of association of the Company (the "M&A"), any director of the Company who is interested in a transaction into which the Company has entered or will enter, must disclose the interest to all other directors of the Company and (i) may vote on a matter relating to that transaction; (ii) attend a meeting of directors at which a matter relating to the transaction arises and be included among the directors present at a meeting for the purposes of a quorum; and (iii) sign a document on behalf of the Company, or do any other thing in their capacity as a director that relates to the transaction.

We are permitted under the M&A to purchase directors and officers insurance for each of the directors and officers of the Company whether or not the Company has the power to indemnify that person under the M&A.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company pursuant to the foregoing provisions, the Company has been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.**

The following exhibits are filed with this Registration Statement.

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| 4.1 | [ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan (incorporated herein by reference to Exhibit 4.1 to our Registration Statement on Form S-8 (File No. 333-270355) filed on March 8, 2023).](http://www.sec.gov/Archives/edgar/data/1687277/000121390023018546/ea174767ex4-1_retoeco.htm) |
| 4.2 | [Amendment No. 1 to ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan (incorporated herein by reference to Exhibit 99.1 to our Report on Form 6-K (File No. 001-38307) filed on December 29, 2025).](https://www.sec.gov/Archives/edgar/data/1687277/000121390025125835/ea027083701ex99-1_reto.htm) |
| 4.3\* | [Specimen Class A Share Certificate.](ea027532301ex4-3_reto.htm) |
| 5.1\* | [Opinion of Mourant Ozannes regarding the legality of the securities being registered.](ea027532301ex5-1_reto.htm) |
| 23.1\* | [Consent of YCM CPA INC.](ea027532301ex23-1_reto.htm) |
| 23.2\* | [Consent of Mourant Ozannes (included in Exhibit 5.1).](ea027532301ex5-1_reto.htm) |
| 23.3\* | [Consent of Yuan Tai Law Offices](ea027532301ex23-3_reto.htm) |
| 24.1\* | [Power of Attorney (included on the signature page).](#poa_001) |
| 107\* | [Filing Fee Table.](ea027532301ex-fee_reto.htm) |

---

\* Filed herewith.

**Item 9. Undertakings.**

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus required by Section 10(a)(3) of
the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the prospectus any facts or events arising after
the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in this Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material information with respect to the plan
of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration
Statement.

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under
the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a)
or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under
the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Beijing, China, on the 4th day of February, 2026.

---

| | |
|:---|:---|
| **ReTo Eco-Solutions, Inc.** | **ReTo Eco-Solutions, Inc.** |
| By: | */s/ Xinyang Li* |
|  | Xinyang Li |
|  | Chief Executive Officer<br> (Principal Executive Officer) |

---

---

| | |
|:---|:---|
| By: | */s/ Yue Hu* |
|  | Yue Hu |
|  | Chief Financial Officer<br> (Principal Financial and Accounting Officer) |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Xinyang Li as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments and registration statements filed pursuant to Rule 462(b) under the Securities Act of 1933) to this Registration Statement and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that each of said attorney-in-fact and agent or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Form S-8 has been signed by the following persons in the capacities indicated on February 4, 2026.

---

| | |
|:---|:---|
| **Name** | **Title** |
| */s/ Guangfeng Dai* | Chairman of the Board, President, and Chief Operating Officer |
| Guangfeng Dai |  |
| */s/ Xinyang Li* | Chief Executive Officer and Director |
| Xinyang Li | (Principal Executive Officer) |
| */s/ Yue Hu* | Chief Financial Officer |
| Yue Hu | (Principal Financial Officer and Principal Accounting Officer) |
| */s/ Zhizhong Hu* | Chief Technology Officer and Director |
| Zhizhong Hu |  |
| */s/ Tonglong Liu* | Director |
| Tonglong Liu |  |
| */s/ Baoqing Sun* | Director |
| Baoqing Sun |  |
| */s/ Lidong Liu* | Director |
| Lidong Liu |  |
| */s/ Austin Huang* | Director |
| Austin Huang |  |

---

**AUTHORIZED U.S. REPRESENTATIVE**

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of ReTo Eco-Solutions, Inc., has signed this Registration Statement in New York, NY on February 4, 2026.

---

| | | |
|:---|:---|:---|
| **Authorized U.S. Representative** | **Authorized U.S. Representative** | **Authorized U.S. Representative** |
| By: | */s/ Xinran Li* | */s/ Xinran Li* |
|  | Name: | Xinran Li |

---

## Exhibit 4.3

**Exhibit 4.3**

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| | | |
|:---|:---|:---|
|  | **ReTo Eco-Solutions, Inc.** |  |
| CERT <br> NUMBER<br> CERT._______ | INCORPORATED UNDER THE LAWS OF THE BRITISH VIRGIN ISLANDS<br> NO PAR VALUE CLASS A SHARES | SHARES<br> \*\*\*\*\*\*__________\*\*\*\*\*\*<br> CUSIP G75271133<br> CLASS A SHARES |

---

THIS CERTIFIES THAT \* SPECIMEN \*

Is The Owner of \* ___________ AND _____/100 \*

FULLY PAID AND NON-ASSESSABLE SHARES OF CLASS A SHARES OF

ReTo Eco-Solutions, Inc.

Transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

Dated: _____________

COUNTERSIGNED AND REGISTERED:<br> VSTOCK TRANSFER, LLC<br> Transfer Agent and Registrar

By: <br> AUTHORIZED SIGNATURE Chief Executive Officer

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| ![](ex5-1_001.jpg) | Mourant Ozannes <br> 5th Floor <br> Waters Edge Building<br> Meridian Plaza <br> Road Town<br> Tortola, British Virgin Islands <br>T +1 284 852 1700 <br> F +1 284 852 1799 |

---

ReTo Eco-Solutions, Inc. (**NASDAQ: RETO**)

Vistra Corporate Services Centre

Wickhams Cay II

Road Town, Tortola

VG1110

British Virgin Islands

4 February 2026

Our ref: 8076959/256207606/2

Dear Sirs

**ReTo Eco-Solutions, Inc.** (the **Company**)

We have acted as the Company's British Virgin Islands legal advisers in connection with its Form S-8 registration statement (the **Registration Statement**) which has been filed with the U.S. Securities and Exchange Commission (the **SEC**) on 4 February 2026 under the U.S. Securities Act of 1933 (as amended) (the **Securities Act**) in connection with proposed issuance of the Class A Shares (defined below) pursuant to the 2022 Share Plan (defined below).

We are providing this opinion as Exhibits 5.1 and 23.2 to the Registration Statement.

1. Documents, searches and definitions

1.1 We have reviewed a copy of each of the following documents for the purposes of this opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Registration Statement (Form S-8);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the 2022 equity incentive plan of the Company (as approved and adopted by the 2022 Director Resolutions,
ratified by the 2022 Shareholder Resolutions and subsequently amended by the 2025 Shareholder Resolutions, the **2022 Share Plan**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company's certificate of incorporation (the **Certificate of Incorporation**) and memorandum and
articles of association (the **M&A**) obtained from the Company Search (defined below);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) a copy of the Company's register of directors (the **Register of Directors**) which was affixed to
the Registered Agent's Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a copy of the Company's shareholder list (the **Register of Members**) that was provided to us on 3
February 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the resolutions in writing of the directors of the Company passed on 2 November 2022 (the **2022 Director Resolutions**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the minutes of the Company's annual general shareholder meeting held on 7 December 2022 (the **2022 Shareholder Resolutions**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the minutes of the Company's annual general shareholder meeting held on 23 December 2025 (the **2025 Shareholder Resolutions**);

Mourant Ozannes is a British Virgin Islands partnership <br>     <br> mourant.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the resolutions in writing of the directors of the Company passed on 4 February 2026 (the **Director Resolutions**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) a certificate of the Company's registered agent dated 4 February 2026 (the **Registered Agent's Certificate**);
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) a certificate of good standing for the Company dated 4 February 2026 (the **Certificate of Good Standing**)
issued by the Registrar (defined below).

1.2 We have carried out the following searches (together, the **Searches**) in relation to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a search of the records maintained by the Registrar that were on file and available for public inspection
at 9am on 4 February 2026 (the **Company Search**); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a search of the records of proceedings in the BVI Courts (defined below) available for public inspection
contained in the judicial enforcement management system (the electronic register of proceedings) maintained at the registry of the High
Court of Justice of the Virgin Islands (the **High Court**) at 9am on 4 February 2026 (the **High Court Search**).

1.3 In this opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **agreement** includes an agreement, deed or other instrument;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **BVI** means the territory of the British Virgin Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **BVI Courts** means the Eastern Caribbean Supreme Court, Court of Appeal (Virgin Islands) and the
High Court (Civil and Commercial Divisions), and BVI Court means any of them;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Class A Shares** means up to 454,399 Class A Shares with no par value each in the Company and **Class A Shares** means any of them;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Companies Act** means the BVI Business Companies Act, Revised Edition 2020 (as amended);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Company Records** means the M&A, the Certificate of Incorporation, the Register of Directors,
the Register of Members, the Certificate of Good Standing and the Registered Agent's Certificate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Documents** means the Registration Statement and the 2022 Share Plan, and **Document** means either
of them;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **execute** and its other grammatical forms mean (unless the context requires otherwise) that a document
has been signed, dated and unconditionally delivered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Insolvency Act** means the Insolvency Act, Revised Edition 2020 (as amended);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) **non-assessable** means, in relation to a Class A Share, that the purchase price for which the Company
agreed to issue that Class A Share has been paid in full to the Company and that no further sum is payable to the Company in respect of
that Class A Share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) **Prospectus** means the prospectus that forms part of the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) **Registrar** means the Registrar of Corporate Affairs appointed under the Companies Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) **signed** means that a document has been duly signed or sealed.

2. Assumptions

We have assumed (and have not independently verified) that:

2.1 each document examined by us:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) whether it is an original or copy, is (along with any date, signature, initial, stamp or seal on it) genuine
and complete, up-to-date and (where applicable) in full force and effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) was (where it was executed or filed after we reviewed it) executed or filed in materially the same form
as the last draft of that document examined by us;

2.2 where we have only been sent a copy of the signed signature pages of any Document, each party to that
Document has unconditionally delivered the entire document (including its signed signature page) in materially the same form as the last
draft of that Document examined by us;

2.3 in causing the Company to enter into and approve each Document, and to issue the Class A Shares, each
director of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) acted honestly, in good faith and in what the director believed to be the best interests of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) exercised the director's powers as a director for a proper purpose; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) exercised the care, diligence and skill that a reasonable director would exercise in the same circumstances;

2.4 each director of the Company (and any alternate director) has disclosed to each other director any interest
of that director (or alternate director) in the transactions contemplated by each Document in accordance with the M&A and the Companies
Act;

2.5 the Director Resolutions, 2022 Director Resolutions, 2022 Shareholder Resolutions and 2025 Shareholder
Resolutions were duly passed, are in full force and effect and have not been amended, revoked or superseded and any meeting at which such
resolutions were passed were duly convened, held and quorate throughout;

2.6 each document examined by us that has been signed by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) has been signed by the person(s) authorised by the Company to sign it; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) has been dated and unconditionally delivered by the Company;

2.7 there are no documents or arrangements to which the Company is party or resolutions of the Company's directors
or shareholders that conflict with, or would be breached by, or which prohibit the Company's entry into, or performance of its obligations
under, each Document or the issuance of the Class A Shares;

2.8 when Class A Shares are issued, there will be no documents or arrangements to which the Company is party,
or resolutions of the Company's directors or shareholders that conflict with, that issuance of Class A Shares;

2.9 before the issuance of any of the Class A Shares, the issuance of such Class A Shares shall be authorised
pursuant to a resolution of the board of directors of the Company or, where the board of directors has established a committee of the
board of directors of the Company and duly delegated to such committee the power to authorise the issuance of Class A Shares pursuant
to the 2022 Plan, by a resolution of such committee of the board of directors of the Company;

2.10 the Company is not insolvent (as defined in the Insolvency Act) and will not become insolvent as a result
of executing, or performing its obligations under, any Document or in connection with the issuance of Class A Shares and no steps have
been taken (or will have been taken at the time those Class A Shares are issued), or resolutions passed, to appoint a liquidator of the
Company or appoint a receiver in respect of the Company or any of its assets;

2.11 the Company is not carrying on any **financial services business** (as defined in the Financial Services
Commission Act, Revised Edition 2020 (as amended));

2.12 the Company is not, nor is it owned or controlled directly or indirectly by, a state or sovereign entity;

2.13 neither the Company nor any of its subsidiaries has an interest in any land in the BVI or in any shares,
debt obligations or other securities of any body corporate which has an interest in land in the BVI;

2.14 no monies paid to or for the account of any party under the Documents, or property received or disposed
of by any party under the Documents, in each case, in connection with the Documents or the performance of the transactions contemplated
by the Documents, represent or will represent proceeds of criminal conduct (as defined in the Proceeds of Criminal Conduct Act, Revised
Edition 2020 (as amended));

2.15 each party to each Document (other than, as a matter of the laws of the BVI, the Company) has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the capacity and power;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) taken all necessary action; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) obtained or made all necessary agreements, approvals, authorisations, consents, filings, licences, registrations
and qualifications (whether as a matter of any law or regulation applicable to it or as a matter of any agreement binding upon it),

to execute and perform its obligations under that Document;

2.16 each Document has been authorised and executed by each party to it (other than, as a matter of the laws
of the BVI, the Company);

2.17 the obligations of each party under each Document are legal, valid, binding and enforceable under all
applicable laws other than the laws of the BVI;

2.18 none of our opinions will be affected by the laws or public policy of any foreign jurisdiction;

2.19 the choice of the governing law of each Document has been made in good faith;

2.20 no recipient of Class A Shares will carry out any of its obligations under any Document in, or from within,
the BVI;

2.21 in relation to the Searches:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all public records of the Company we have examined are complete and accurate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all filings required to be made in relation to the Company with the Registrar have been made and there
was no information which had been filed that did not appear on the records of the Company at the time of the Company Search; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the information disclosed by the Searches was at the time of each search, and continues to be, accurate
and complete;

2.22 the Company Records were and remain at the date of this opinion accurate and complete;

2.23 no Class A Shares will be issued for a price which is less than its par value;

2.24 the Class A Shares will be unconditionally issued and awarded in accordance with the terms of the 2022
Share Plan;

2.25 each written agreement, contract, other instrument or document evidencing any award granted under the
2022 Plan incorporates or will incorporate the terms of the 2022 Plan and has been or will be authorised and duly executed and unconditionally
delivered by or on behalf of all relevant parties in accordance with all relevant laws (other than, with respect to the Company, the laws
of the BVI); and

2.26 the 2022 Plan is legal, valid, binding and enforceable against all relevant parties in accordance with
its terms under all relevant laws (other than, with respect to the Company, the laws of the BVI).

3. Opinion

Subject to the assumptions, observations, qualifications and limitations set out in this opinion, and to matters not disclosed to us, we are of the following opinion.

3.1 **Status**: the Company is registered under the Companies Act, validly exists under the
laws of the BVI and, on the date of issue of the Certificate of Good Standing, is of good standing with the Registrar.

3.2 **Issuance of Class A Shares**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company has duly authorised the issuance of each Class A Share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) when (i) the terms of the issuance of the Class A Shares has been duly established in conformity with
the M&A, the Companies Act and the 2022 Plan, (ii) those Class A Shares have been issued and delivered as contemplated by the Registration
Statement, the Prospectus (and the relevant prospectus supplement) and the 2022 Plan, (iii) the Company has received the consideration
provided for (and to be credited in respect of) those Class A Shares under the 2022 Plan, and (iv) the name of the relevant shareholder(s)
is entered in the Company's register of members, such Class A Shares will be validly issued, fully paid and non-assessable.

4. Qualifications and observations

This opinion is subject to the following qualifications and observations.

4.1 This opinion is subject to all laws relating to bankruptcy, dissolution, insolvency, re-organisation,
liquidation, moratorium, court schemes and other laws and legal procedures of general application affecting or relating to the rights
of creditors.

4.2 Where a director of a BVI company fails, in accordance with the Companies Act, to disclose an interest
in a transaction entered into by the company, the transaction is voidable.

4.3 The BVI Courts may

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) hold that despite any term of an agreement to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any certificate, calculation, determination or designation of any party to the agreement is not conclusive,
final and/or binding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any person exercising any discretion, judgment or opinion under the agreement must act in good faith and
in a reasonable manner; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any power conferred by the agreement on one party to require another party to execute any documents or
do any things the first party requires must be exercised reasonably; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) imply terms (for example, good faith between parties in relation to the performance of obligations) into
an agreement governed by BVI.

4.4 Where a foreign law is expressly selected to govern an agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) matters of procedure upon enforcement of the agreement and assessment or quantification of damages will
be determined by the BVI Courts in accordance with BVI law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the proprietary effects of the agreement may be determined by the BVI Courts in accordance with the domestic
law of the place where the relevant property is taken to be located;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the mode of performance of the agreement may be determined by the BVI Courts in accordance with the law
of the place of performance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) that law may not be applied by the BVI Courts to non-contractual obligations arising out of the agreement
(even if it is expressly selected to do so).

4.5 The BVI Courts may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) stay or set aside proceedings where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) there is a more appropriate forum than the BVI where the action should be heard;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) earlier or concurrent proceedings have been commenced outside the BVI; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) there has already been a final and conclusive judgment given on the merits by a foreign court of competent
jurisdiction according to BVI conflicts of laws rules; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) grant injunctions restraining the commencement or continuance of proceedings outside the BVI.

4.6 The Company Search will not reveal any document which has not been filed with the Registrar or which was
filed but was not registered or did not appear on the Company's file at the time of the Company Search.

4.7 The High Court Search will not reveal (among other things) if there are any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) proceedings or appointments that have not been filed or that have been filed but have not been recorded
in the High Court's judicial enforcement management system or that have been filed but did not appear on the High Court's judicial enforcement
management system at the time of the High Court Search;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) proceedings commenced prior to 1 January 2000 if no document has been filed since that date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) proceedings against the Company that have been threatened but not filed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) files that have been sealed pursuant to a court order; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arbitration proceedings in which the Company is a defendant or respondent.

4.8 Under the Companies Act, a company is of **good standing** if the Registrar is satisfied that it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is listed on the register of companies maintained by the Registrar;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) has paid to the Registrar all fees, annual fees and penalties due and payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) has, where applicable, filed its annual return (as defined in the Companies Act) in accordance with section
98A of the Companies Act or it is not yet due to file its annual return; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) has filed with the Registrar a copy of its register of directors which is complete (to the satisfaction
of the Registrar as to the requisite information relating to each director and is properly filed) or is not yet due to file its register
of directors with the Registrar.

5. Limitations

5.1 This opinion is limited to the matters expressly stated in it and it is given solely in connection with
the Registration Statement and each Document.

5.2 For the purposes of this opinion, we have only examined the documents listed in paragraph 1.1 above
and carried out the Searches. We have not examined any term or document incorporated by reference, or otherwise referred to, whether in
whole or part, in any Document and we offer no opinion on any such term or document.

5.3 We offer no opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) on whether the commercial terms of any Document reflect or achieve the intentions of the parties (unless
otherwise expressly stated in this opinion);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) on any factual statement, representation or warranty made or given in any Document unless otherwise expressly
stated in this opinion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) as to whether the parties to any Document will be able to perform their obligations under it; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) as to the title or interest of any party to or in, or the existence or value of, any property or collateral
the subject of any Document.

5.4 We have made no investigation of, and express no opinion with respect to, the laws of any jurisdiction
other than the BVI or the effect of any Document under those laws. In particular, we express no opinion as to the meaning or effect of
any foreign statutes referred to in any Document.

5.5 We assume no obligation to advise the Company (or any person we give consent to rely on this opinion)
in relation to changes of fact or law that may have a bearing on the continuing accuracy of this opinion.

6. Governing law

This opinion, and any non-contractual obligations arising out of it, are governed by, and to be interpreted in accordance with, laws in force in the BVI on the date of this opinion.

7. Consent

7.1 This opinion is addressed to the Company in connection with each Document.

7.2 We consent to the filing of a copy of this opinion as Exhibits 5.1 and 23.2 to the Registration Statement.

In giving this consent, we do not admit that we are included in the category of persons whose consent is required under section 7 of the Securities Act or the rules and regulations promulgated by the SEC under the Securities Act.

Yours faithfully

<u>/s/ Mourant Ozannes</u>

**Mourant Ozannes (British Virgin Islands)**

## Exhibit 23.1

**Exhibit 23.1**

![](ex23-1_001.jpg)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the inclusion in this Registration Statement on Form S-8 of ReTo Eco-Solutions, Inc. of our report dated May 8, 2025, with respect to the consolidated balance sheets of ReTo Eco-Solutions, Inc. and its subsidiaries as of December 31, 2024 and 2023 and the related consolidated statements of operations and comprehensive loss, changes in shareholders' equity, and cash flows for the three years ended December 31, 2024.

/s/ YCM CPA INC.

PCAOB ID 6781

Irvine, California

February 4, 2026

## Exhibit 23.3

**Exhibit 23.3**

![](ex23-3_001.jpg)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;中国上海浦东新区浦东南路 256 号华夏银行大厦 14 楼 | 14/F, Huaxia Bank Plaza, 256 South Pudong Road <br> Pu Dong New Area |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;邮编: 200120 | Shanghai 200120, P.R.China |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;电话: 86-21-51150298 | Tel: 86-21-51150298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;传真: 86-21-51150398 | Fax: 86-21-51150398 |

---

Date:4 February 2026

Dear Sirs,

We, Yuan Tai Law Offices, consent to the reference to our firm in the Registration Statement of ReTo Eco-Solutions, Inc. (the "Company") on Form S-8, which will be filed with the Securities and Exchange Commission (hereinafter the "SEC") on 4 February 2026 in relation to an aggregate of 454,399 class A shares, no par value, as a result of the share reserve increase and the automative semi-annual increase of share reserve under the 2022 share incentive plan of the Company.

Yours faithfully,

For and on behalf of

**Yuan Tai Law Offices**

---

| |
|:---|
| /s/ Shao Jun |
| Name: Shao Jun |
| Designation: Partner |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**ReTo Eco-Solutions, Inc.**

**Table 1: Newly Registered Securities**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Class A shares, no par value per share | (1) | Other | 454399 | $0.97 | $440767.03 | 0.0001381 | $60.87 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $440767.03 |  | 60.87 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $60.87 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional Class A shares of the Registrant that become issuable under the Registrant's 2022 Share Incentive Plan (the "2022 Plan") by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant's receipt of consideration which results in an increase in the number of the outstanding Class A shares. Includes 454,399 additional Class A shares, as a result of the share reserve increase and the automatic semi-annual increase of share reserve under the 2022 Plan. Estimated in accordance with Rule 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee on the basis of $0.97 per share, which is the average of the high and low prices of the Registrant's Class A shares as reported on the Nasdaq Capital Market on February 2, 2026. The Registrant does not have any fee offsets.