ReTo’s Yangpu Fangyuyuan to form IoT and logistics JV with Hainan Yonghuiju

ReTo Eco-Solutions said that its subsidiary Yangpu Fangyuyuan United Logistics will form a joint venture (JV) with Hainan Yonghuiju Technology, a Chinese agricultural products logistics company, to develop Internet of Things (IoT) and logistics business.

Listed on Nasdaq, ReTo Eco-Solutions via its operating subsidiaries in China, manufactures and distributes eco-friendly construction materials made from mining waste. The company also manufactures equipment used for the production of the eco-friendly construction materials.

In with the JV agreement, Yangpu Fangyuyuan and Hainan Yonghuiju will work together on digitalizing online logistic platform as well as supply chain system that will support the sale and delivery of the latter’s Yonghuiju’s fresh fruit offerings as the initial project.

The two parties will also collaborate on the upgrading and enhancement of the platform to enhance its efficiency and operation of the platform.

With the support of ReTo Eco-Solutions, Yangpu Fangyuyuan will offer platform management, supply chain finance, and digitalization services to the JV. Hainan Yonghuiju will use its industry expertise and resources within the logistics industry.

Yangpu Fangyuyuan and Hainan Yonghuiju are working to create an online platform that will provide customers of logistics companies with new methods of business models and technology to provide better services to their customers of different sizes.

Their joint venture is expected to function as a central hub for coordination of diverse resources and relationships to create a flexible and efficient delivery system for logistics companies.

Hengfang Li — ReTo Eco-Solutions Chairman and CEO said: “The commitment from Hainan Yonghuiju is another example of how we are playing an essential role in helping our clients achieve the goal of digitalization in the logistics and transportation sector.

“We hope to expand our presence in the dynamic and growing logistics industry, better positioning ourselves to take advantage of new opportunities.  At ReTo, we’ll grow our logistics service network in China to meet customers’ demands, as well as building our intermodal shipping capacity.”