Yangling, Shaanxi, Feb. 18, 2020 (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 on February 14, 2020, the Company held its 2020 annual meeting and the first working session meeting. Due to the severity in China of COVID-19, the annual meeting was held by video conference and was attended by the representatives of the company in Beijing, Shandong, Shaanxi China and the United State of America.
Kiwa Bio-Tech Products Group Corp. CEO Ms. Yvonne Wang summarized the company's milestones to date and provided insight regarding Kiwa plans for growth in the year ahead. “A total team effort allowed Kiwa to achieve all of our 2019 goals regarding R&D, manufacturing, sales and marketing.” The total 2019 sales and shipments of Kiwa’s various fertilizer products was over 164,000 tons.
Kiwa and the China Post Savings Bank have reached a mutual understanding to support commercial loans for Kiwa’s fertilizer clients. The loans from the Postal Savings Bank to Kiwa’s customers will help the Company in a variety of ways. The company expects sales to increase and also expects to collect payment from sales within a much quicker time frame in 2020.
The company also engaged Xibaokun, an agricultural company as a strategic partner. This relationship will help facilitate key agricultural projects in Shaanxi, Zhejiang and help to start our soil remediation business in 2020. We plan to utilize the company’s core technology products in future soil remediation projects throughout China.”
The company’s 2020 forecast includes an expected increase in revenues compared to 2019 from its base of clients in the Shaanxi province. In addition, Kiwa plans to launch two new products for fruit planting and soil remediation in 2020.
“We remain committed to growing our business throughout the Country of China and we are also focused on delivering increased shareholder value in 2020,” added Wang.
About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry Chain
Kiwa 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.
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.
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