Ontario, Calif., Nov. 5, 2022 (Globe Newswire) — Kiwa Bio-Tech Products Group Corporation (OTCBB: KWBT). On November 2, 2022, XIAOMAN completed the acquisition of an asset of more than RMB 500 million (approximately 68 million USD), and plans to merge this part of the asset into KIWA after the Company’s Board re-election and audit work are completed. This is part of the reorganization operation plan started by the new team according to the cooperation agreement after XIAOMAN and KIWA signed the cooperation agreement and replaced the management team.
Kiwa’s new. CEO, Ms. Ziqi Wang Ziqi, states that the new management team has completed the formulation of KIWA’s new business development plan. After completing the overall reorganization of KIWA, XIAOMAN will start the cultural industry and digital collection business sectors, and use new business to enhance KIWA’s value and performance.
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.
For investor and media inquiries, please contact: