Yangling, Shaanxi, March 30, 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 the company has signed a cooperation agreement with Huaxialitai Co., Ltd.
On March 25, Kiwa Bio-Tech signed a cooperation agreement with Huaxialitai Co., Ltd., a China state-owned enterprise that has an enormous fertilizer market channel throughout the Country of China. Under terms of the agreement, Huaxialitai will start to sell Kiwa’s fertilizer products in the second quarter of 2020. The sales area includes Gansu, Jilin and other regions. It is anticipated that the first order will be at least $7,500,000 USD.
“As all of us experience the challenges and impacts associated with the efforts to mitigate the COVID-19 outbreak, Kiwa eliminated the adverse factors brought by the epidemic and completed 80% of the quarterly sales plan.” Stated Mr. Wade Li, Kiwa’s CEO.
Currently, the customers in Xinjiang, Hainan, Shandong and Shaanxi have started to use Kiwa fertilizer for spring farming season. After the resumption of our production, Kiwa fertilizer has delivered 24,000 tons of Kiwa bio-organic fertilizer, 8,800 tons of Kiwa compound microbial fertilizer and 800 tons of Kiwa water soluble fertilizer for the first quarter of 2020.
“Kiwa plans to achieve fertilizer sales of no less than 200,000 tons in 2020, which will increase by nearly 20% compared with our total sales in 2019.” Added Li.
“Kiwa Bio-Tech expects the value of the company to continue to improve during the next 12 months due to increased sales performance and will not use reverse splitting of shares to improve the share price.” Stated Kiwa Bio-Tech’s CFO Mr. Man Yun.
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.
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:
Everett Jolly
Stock Day Media
evjolly@cox.net
