Ontario, CA, March 22, 2018 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) (“Kiwa Bio-Tech” or the “Company”), a manufacturer of eco-friendly microbial fertilizer products and smart-soil remediation technologies is pleased to announce that the company is expanding their business to the Traditional Chinese Medicine Market (“TCM”). In 2017, the Traditional Chinese Medicine (“TCM”) industry generated approximately 130 billion USD in revenues.
“TCM grew by 20 percent in the past year, according to the State Administration of Traditional Chinese Medicine (SATCM). With a history of more than 2,000 years, TCM has unique theories and practices in herbal medicine, acupuncture, massage and dietetics,” stated Kiwa Bio-Tech’s CEO Ms. Wang.
According to China’s Ministry of Agriculture (the “Ministry”), the total planting area of Traditional Chinese Medicine (“TCM”) doubled to approximately 2.2 million hectares in 2017, in comparison to approximately 1 million hectares in 2016. On March 19, 2018, the company has signed a strategic cooperation agreement with The Traditional Chinese Medicine Market Committee of The Chinese Association of Traditional Chinese Medicine (the “Committee”). Kiwa Bio-Tech will support the establishment of standards for planting the Traditional Chinese Medicine Herbs by integrating the Company’s methods of fertilization into the standards.
Ms. Wang continued, “Our goal is not only to promote our fertilizer products in the main herb planting areas, but we will also contribute to improving the quality and the reputation of Traditional Chinese Medicine nationally and internationally. For our shareholders, we expect that our expansion into the TCM will generate significant revenues while enhancing the growth of planting areas utilizing our fertilization methods area throughout China. We also pleased to announce that The Committee authorized Kiwa Bio-Tech as the deputy director's unit of The Chinese Association of Traditional Chinese Medicine, and Kiwa Bio-Tech's Sales and Marketing Director Mr. Yu will be hired as the deputy director of the Association.”
About The Chinese Association of Traditional Chinese Medicine
The Chinese Association of Traditional Chinese Medicine (previously called the Chinese Society of Management of Traditional Chinese Medicine Enterprise) is the most prestigious entity representing the traditional Chinese medicine sector in China.
The Mission of the Association is to serve the Traditional Chinese Medicine industry, safeguard the legitimate rights of its members, promote the development and standardization of production of herbs, enhance the culture of Chinese medicine and to better satisfy the need of the people. In support of this Mission, the Chinese Association of Traditional Chinese Medicine actively studies the trend of its market development, develops ethical norms and standards for management for in sector, promotes quality service and adherence to its Code of Conduct and seeks to upgrade the morality and ideological posture for the sector.
About Kiwa Bio-Tech Products Group Corporation
Leader in Harmless Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corporation develops, manufactures, markets and distributes innovative, cost-effective and environmentally safe bio-technological products for agricultural and environmental conservation. The Company's products and technologies are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes.
Kiwa Bio-Tech Products Group Corporation is dedicated to eco-agricultural development and environmental control by developing, producing, and selling bio-technological products with high technology, low-cost, and high productivity to satisfy the growing market demand. Kiwa’s development is creating a standardized and ecologically safe agricultural industry chain platform. The Company’s product development, manufacturing, and distribution is based in China.
Kiwa Bio-Tech Products Group Corporation uses new bio-technological skills at its core, with organic, ecologically sound, and “green” practices as its theme. The Company strives for customer satisfaction and continued development. Kiwa is dedicated to making food safer, further developing eco-agriculture and upholding a responsibility of contributing to China’s agricultural safety, food safety, and a healthy lifestyle.
For more information on Kiwa Bio-Tech and its 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 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.