Yangling, Shaanxi— (May 15, 2019)––Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or “the Company”), an emerging agricultural company that develops, manufactures and markets bio-fertilizers for use in the multi-billion China agriculture and aquaculture markets is pleased to announce that the Company has reported positive financial results for the first quarter of 2019 ending March 31.
First Quarter 2019 Results
- Revenue of $9,542,998 increased 9% compared to the same period in 2018.
- Operating Income of $1,179,011 increased 79% compared to $657,308 in the same period in 2018.
- The Company was awarded the bid for the project of Zhaoqing Dinghu Modern Agricultural Industrial Park in Guangdong Province. Kiwa’s microbial technology and products will now be entering the aquaculture market. Kiwa’s microbial technology and products will quickly enter the aquaculture market through this successful bid, and expand the new market on the basis of the existing planting agricultural market to enhance financial performance.
- The Company has constructed two kiwifruit Eco-friendly Planting Demonstration Parks covering an area of 3.5 hectares in Zhouzhi County. Kiwa will construct no less than five apple and kiwi Eco-friendly Planting Demonstration Parks, covering no less than 16.66 hectares in shaanxi province before September 30, 2019. The construction of Kiwa’s Eco-friendly Planting Demonstration Parks will play a consolidation role in expanding new sales channels and developing new stable business partners.
- The Company’s Yangling Eco-friendly Agricultural Headquarters Construction Project has been included in the list of key construction projects of Shaanxi Province for 2019. This announcement was made public by the Shaanxi Provincial Development and Reform Commission. The Company’s Yangling Eco-friendly Agricultural Headquarters Construction Project covers an area of 8.77 acres, with an investment of approximately $44.5 million USD, and will include fermentation and production terminals, agricultural produce sorting facilities and storage, a research and development institute and corresponding ancillary facilities.
Yvonne Wang, Chief Executive Officer (CEO) of Kiwa Bio-Tech, stated, “The Chinese Government is continuously promoting a green environment and implementation of quality standards and environmentally sensitive policies in the Agricultural industry. As a result, we expect our revenues from our innovative and highly effective products. We believe that Kiwa’s Compound Microbial Fertilizer, Bio-Water Soluble Fertilizer and Microbial Inoculum Fertilizer will continue to grow in a higher rate than Biological Organic Fertilizer being used in the market. Our Compound Microbial Fertilizer, Bio-Water Soluble Fertilizer, Microbial Inoculum Fertilizer and other new product series generally result in higher crop productivity and promotion of a green environment. We are also very excited that our marketing team is expanding its scope to include the Western areas of China.”
For further information, please see the Company’s Quarterly Report on Form 10-Q at www.sec.gov, which the Company filed on May 15, 2019.
Kiwa Bio-Tech 2019 1Q Financial Report Link:
About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corp. (KWBT) is a publicly traded company with corporate headquarters in the Yangling, Shaanxi, China. The company develops, manufacture, markets and distributes innovative and environmentally safe bio-technological products for agriculture.Kiwa’s focus is to positively impact the environment by reducing the amount of chemical fertilizers that are being used by agricultural growers in China.
Kiwa Bio-Tech Products Group Corp. products are covered by patent protection and are designed to enhance the quality of human life by increasing the value and productivity of agricultural crops.
For more information on Kiwa Bio-Tech Products Group Corp. or its bio-fertilizer products and smart soil remediation technology, please refer to the Company’s website at www.kiwabiotech.com. or the Company filings with the United States Securities and Exchange Commission at www.sec.gov.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. Kiwa Bio-Tech Products Group Corp. specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
Kiwa Bio-Tech Products Group Corporation