Ontario, Calif., Oct. 18, 2022 — Kiwa Bio-Tech Products Group Corporation (OTCBB: KWBT). On October 18, the Board of Directors of the Company adopted a resolution to appoint a new management team.
According to the Restructuring Plan between the Company and Xiaoman Company, Xiaoman Company proposed candidates for the new senior management team. The Board of Directors of the Company held a meeting on October 18, 2022 and decided to appoint:
Ms. Ziqi Wang as Chief Executive Officer;
Mr. Sen Yang as Chief Financial Officer;
Mr. Boyu Liu as Chief Operation Officer;
Mr.Chaozhao Zhao as Executive President and General Manager of Mining Business Department;
Mr. Dadong Li as Executive Vice President;
Mr. Mingzheng Bao as Chief Administrative Officer and Chief Growth Officer;
Ms. Mei Dong as Director of International Investment and Finance;
Mr. Xuefeng Guo as Vice President.
The Company’s Chairman Mr. Wade Li states again that “this reorganization with the new senior management team is able to inject substantial support for development of the company, enhance the endogenous power and will bring the company to a new height of development.”
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.
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