CLAREMONT, CA–（January 29, 2016）– Kiwa Bio-Tech Products Group Corporation (OTC: KWBT) reported today that it has signed a strategic cooperation agreement with Zhongnan Commodity E-Commerce Co., Ltd. Hunan, China. Specifically, the parties have agreed that Kiwa’s fertilizer products and agricultural products will be sold on the e-platform of Zhongnan Commodity E-Commerce Company to Zhongnan’s customers. In addition, both companies intend to cooperate in the development of agricultural sales through e-business applications. Although no commitments were issued, the parties also discussed a potential equity participation in Kiwa.
“The development of an e-business platform for the sales of Kiwa’s fertilizer and agricultural products is an important element of Kiwa’s business strategy”, said Kiwa’s CEO, Jimmy Zhou. “The agreement with Zhongnan gives Kiwa a close working relationship with an important e-commerce business enterprise run by China’s largest state-owned agricultural enterprise, China CO-OP Group. This will provide the Company with a solid opportunity to enlarge its share of the fertilizer and agricultural market in China”.
