Kiwa Bio-Tech Products Group Sees First Profitable Year on Surging Revenues
April 18 2017 - 8:06AM
InvestorsHub NewsWire
CLAREMONT, CA--(NewMediaWire - Apr 18, 2017) - Kiwa
Bio-Tech Products Group Corporation (OTCQB: KWBT).
On April 18, 2017, Kiwa Bio-Tech Products Group Corporation ("Kiwa"
or the "Company") reported its operating results for most recent
fiscal year ended December 31, 2016. For the fourth quarter, Kiwa
reported revenue of $9,617,845 and net income of
$963,296.
"2016 was a remarkable year for the Company. We made progress in
all aspects of our corporate development, from corporate
structuring to fundraising, from new product development to market
expansion, and from revenue generation to cost saving," stated
Yvonne Wang, CEO of Kiwa. "The Company's profit was recognized
through its wholly-owned China subsidiary," Wang
commented.
Wang continued, "Looking forward to 2017, we see continued
opportunities for growth. On one hand, we are very pleased that we
exceeded our business plan in 2016, on the other, we are committed
to working more diligently to improve our fundamentals and deliver
excellent results to our investors in 2017."
For more information on Kiwa and its products, please refer to
the Company's website at www.kiwabiotech.com or the Company filings with
the United States Securities and Exchange Commission, available for
free 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 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.
SOURCE: Kiwa Bio-Tech Products Group Corporation