Yangling, Shaanxi, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) is pleased to issue a progress report regarding product sales for the 3rd quarter of 2019. Traditionally, the company’s third quarter is a key stage in completing its 2019 sales results. According to Xiaoqiang Yu, Director and General Manager of the Company, “As of the end of September 2019, the company's traditional market sales reached nearly 40,000 tons in the third quarter”
“The Zhouzhi Trinity model trial and Demonstration Park completed nearly 50 tons of sales and delivery. Although the third quarter results are still mostly supported by the traditional market, with the launch and implementation of the final link of the Trinity model, we believe that the sales performance of the Zhouzhi market will be greatly improved during the forth quarter this year and the spring of next year.” Added Yu.
The Company's Accounting and Finance Department also introduced that the Company is now in the final stage of restructuring and divestiture, which approved by the Board of Director the end of the last year. In order to take advantage of the valuable incentives agreed by the Yangling Free Trade Zone, Kiwa Bio-Tech has agreed to restructure its operations in China to relocate its activities previously located in Shenzhen, Beijing and Shandong to Yangling and focus its manufacturing activities in the Yangling Free Trade Zone. After the divestiture, the Kiwa Bio-Tech China will use Kiwa Yangling as the main operating platform to realize the overall plan for the development in China.
Furthermore, the Company has been invited by the China Yangling’s 26th Agricultural High-tech Expo’s organizing committee to participate in the Agricultural High-tech Expo. The Company has the plan to participate in the Agricultural High-tech Expo and has completed the exhibition declaration and preparation work.
Since entering Yangling Agriculture Free Zone in 2018, the Company has participated in the 25th Yangling Nonggao Spring Festival Branch Exhibition and the 25th Yangling Nonggao Exhibition. During these two agricultural high-level exhibitions, the Company focused on the development of eco-friendly agriculture in Yangling and the development of eco-friendly agricultural standardization, focusing on the promotion of Kiwa Bio-Tech's nearly 18 years business history, with biotechnology as the base, the eco-friendly agriculture as the theory, to create a modern agricultural management idea dedicating the eco-friendly fertile soil as the banner.
At the 26th Yangling Agricultural High-tech Expo, the Company will use the “the fruitful results of Trinity model of eco-friendly agriculture” as the theme, focusing on showing of the new agricultural industry’s Trinity model of “scientific planting, standardization management, and industrial operation”.
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.
Forward-Looking Statements
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.
Contact:
Kiwa Bio-Tech Products Group Corporation
ir@kiwabiotech.com