ONTARIO, CA, April 02, 2018 (GLOBE NEWSWIRE) --
Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) (“Kiwa Bio-Tech” or the “Company”), a leading manufacturer of biological fertilizers promoting eco-friendly agriculture and smart-soil technology, has released its financial results for the year ended December 31, 2017.
Revenue increased by 80% to $17,270,069 in the year ended December 31, 2017 from $9,620,929 during the same period in 2016. The increase was primarily due to an increase in sales of microbial fertilizers to meet the need of a broader market. Kiwa currently realizes revenue in two major product categories of Biological Organic Fertilizer and Compound Microbial Fertilizer.
Yvonne Wang, the Chief Executive Officer of Kiwa Bio-Tech, commented, “I am pleased to announce that we achieved a year-over-year increase in the revenue of approximately 80% for 2017. This strong result suggests that our focus on developing high-efficient microbial fertilizer products, China’s growing eco-friendly agricultural industry, along with our expanded sales strategies and our new marketing model are proving to be effective.”
Ms. Wang continued, “We have many notable accomplishments throughout 2017. First, we have updated our core technology and product portfolios centered on KETS microbial technology. All of the newly developed products have entered into the market and appear to be well-regarded by the farmers, local retailers and wholesalers throughout the Mainland China. Second, we signed a purchase agreement related to the acquisition of a new factory in Shandong Province which will facilitate an increase in our production. The capacity of the new factory for producing finished microbial products is estimated to reach to 200,000 tons annually. We are also planning to establish a fermentation factory to develop the microbial flora in Yangling, Shaanxi Province. Third, given the new state-level regulations restricting chemical fertilizers usage, Kiwa Bio-Tech enjoys the endorsement of the government to develop eco-friendly agriculture and establish a standardized system for agricultural planting, fertilizing method, agricultural products producing and processing and soil restoration techniques. Finally, we built our first Agricultural Experiment and Demonstration Park to test our products and display the beneficial effects of our biological fertilizers. ”
Ms. Wang concluded, “Operationally, we are now initiating a new ‘Three-Part Marketing Model’ including the establishment of retail outlet stores, promotion of microbial fertilizers and purchase of crop plants that use Kiwa Bio-Tech’s fertilizers. In this way, we are able to better monitor the processes of producing and providing safe agricultural products. In 2018, Kiwa Bio-Tech has entered additional markets in the northern, southern, and eastern China. The Company has also strategically expanded into Yangling Area of China Pilot Free Trade Zone, the only free trade zone with a specific focus on agriculture. We are hopeful that our growth in 2017 will continue as national and local policy support of promoting green agriculture grows and we expand into the Soil Restoration Market and the Planting Market for Traditional Chinese Medicine.”
About Kiwa Bio-Tech Products Group Corporation
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corporation develops, manufactures, distributes, and markets innovative, cost-effective and environmentally safe bio-technological products for agricultural and environmental conservation. The Company's products 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 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 are based in China.
Kiwa 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 safe food, 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 and its fertilizer products and smart soil remediation technology, please refer to the Company’s website atwww.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.