ONTARIO, CA, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or the “Company”), a leading agricultural biotechnology company that develops and manufactures microbial fertilizers for use in the multi-billion food industry has announced the Company’s financial results for the three months ended June 30, 2018.
Financial Results Highlights
- Record Quarterly revenue of Q2 2018 is $5,334,830.
- Record Quarterly gross profit of Q2 2018 is $1,461,328.
Kiwa Bio-Tech’s revenue increase was primarily due to increased sales that were recorded in various regions of the People’s Republic of China.
“Kiwa Bio-Tech delivered strong growth in sales for the second quarter of 2018. To date, we continue to successfully execute our planned strategy of consistently increasing our sales distribution channels and further penetrating the agricultural planting markets including traditional Chinese medicine, fruits, vegetables and the like. The Company’s operating performance is driven by the strength of our market-leading diversified fertilizer products line. Kiwa Bio-Tech has laid the groundwork for further expansion as the Chinese government continues promoting eco-friendly fertilizers and we continue to achieve a very high reputation for our products with our client base,” stated Ms. Wang, CEO of Kiwa Bio-Tech. “During the Second Quarter, the Company launched its new product Biological Water-Soluble Fertilizer to meet the need of a broader market,” added Ms. Wang.
Kiwa Bio-Tech’s operational headquarters in Yangling Hi-Tech Agricultural Free Trade Zone has been established and the Company’s Kiwa-Yangling Ecological Agriculture and Environment Research Center (“Kiwa R& D Center”) was also opened during the Second Quarter.
Cutting edge research is at the heart of Kiwa Bio-Tech Products Group Corp. The Kiwa R & D Center is involved in the development of new fertilizers and the promotion of soil restoration technologies. The Company is continually striving to establish a standardized eco-friendly agricultural industry chain in China.
Further information concerning the Company's financial position and results of operations are included in the Company's Quarterly Report on Form 10-Q at www.sec.gov, which the Company filed on August 14, 2018.
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 United States. 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 chemicals 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