Ontario, CA— (August 21, 2017)- Kiwa Bio-Tech Products Group Corp (OTCQB: KWBT) announced this week revenues for the 2017 second quarter totaling $5,682,108.
CEO Yvonne Wang stated, “Kiwa Bio-Tech is having its best year ever. We project our annual sales to exceed $20,000,000 based on sales of at least 100,000 tons of our bio- fertilizers.
Recently, the Chinese Government has taken steps to promote the use of non- chemical fertilizers that the company believes should help the growth in sales of Kiwa’s products throughout the Country of China.
This last July, Kiwa Bio-Tech was selected to be the lead participant by the Chinese Government to promote eco-friendly technologies for the agricultural industry in China. The Chinese Ministry of Agriculture issued a notice “Implementation of the Plan to Use Organic Fertilizer on the Cultivation of Fruit, Vegetables and Tea” in April 2017. The notice created a requirement that farmers use at least 50% organic fertilizer in China’s main planting areas of fruit, vegetables and tea by 2020 as a part of a program to replace chemical fertilizer with biological organic fertilizer.
“We continue to see strong sales growth in our key markets on both a quarter-to- quarter and year-to-year basis. We believe that our growth will continue due to the increasing demand for biological organic fertilizer products in China,” added Wang.
