Kiwa Bio-Tech Products Group Corp. Reports Positive Financial Results for Q3 2019 With Revenue Increasing 42%
Yangling, Shaanxi, Nov. 15, 2019 (GLOBE NEWSWIRE) — 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 and the developer of smart soil remediation technology for use in agriculture markets worldwide, is pleased to announce that the Company has reported positive financial results for the third quarter ending September 30.
Third Quarter 2019 ResultsRevenue of $10,986,295 increased 42% compared to the same period in 2018.Operating Income of $1,852,756 increased 53% compared to $1,211,107 in the same period in 2018.Strategic developmentsDuring the 26th China Yangling Agricultural Hi-Tech Fair, Kiwa is presenting the theme of how “Trinity” new agricultural industry chain’s influence on “new rural areas, new farmers and new agriculture”. It focuses on the core contents of the “Trinity Model”, which is to realize the new rural construction with scientific planting, training the farmers with standardized management and promoting the development of new agriculture with industrialized operations.Yvonne Wang, Chief Executive Officer (CEO) of Kiwa Bio-Tech, stated, “while the sales performance of the Company continued to improve in the third quarter, it also successfully completed the implementation of market expansion in Shaanxi Province of China by adopting the new “Trinity Model”.By using Kiwa’s biotechnology and fertilizer products in the kiwifruit planting market in Zhouzhi, the fruit farmers reduced the input cost of using fertilizer tremendously, controlled the input and use of chemical products, and cultivated kiwi has raised in current market prices. All of this has created a great foundation for Kiwa Bio-Tech to continue to develop the fertilizer market in Zhouzhi as well as Shaanxi Province in the future.After the 26th China Yangling Agricultural Hi-Tech Fair in October, a new market of nearly 7,000 mu (approximately 1,153 acres) of apple and grape plantations in three counties in Shaanxi Province has begun to work with the Company. It is expected that the newly increased market will increase the fertilizer sales revenue by approximately 3 million US dollars for the region’s sales performance.”Form 10-Q
For further information, please see the Company’s Quarterly Report on Form 10-Q at www.sec.gov, which the Company filed on November 14, 2019.About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry ChainKiwa Bio-Tech Products Group Corp. (KWBT) is an emerging agricultural company that develops, manufactures and distributes innovative and environmentally safe bio-technological products for agriculture and aquaculture markets with corporate headquarters in the Yangling, Shaanxi, China. 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.Forward-Looking StatementsThis 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.Contact:
Kiwa Bio-Tech Products Group Corporation