Kiwa Bio-Tech Products Group Corp. Announces Earnings Per Share of $.51
Ontario, CA - (WORLD STOCK WIRE) - April 19, 2018 -- Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) a leading manufacturer of biological fertilizers and developer of eco-friendly smart-soil technology for agriculture has announced the financial and operating results for the fiscal year ended December 31, 2017 that included earnings per share of $0.51.
Revenues of $17,270,069 up 80% compared to 2016 of $9,620,929.
Gross Income of $5,424,195 up 124% compared to 2016 of $2,421,041.
Net Income of $5,309,036 up 496% compared to 2016 of $891,030.
Earnings Per Share $0.51, up 200% compared to 2016 of $0.17.
In 2017, the Chinese Ministry of Agriculture has issued Circular No. 2017-02 to target zero growth in the use of chemical fertilizers.
In February 2017, the Ministry of Agriculture of PRC has carried out measures to replace 20% of chemical fertilizers with organic fertilizers for fruits, teas, and vegetables by 2020, which created a 30-billion-dollar market for eco-friendly fertilizer products.
In 2017, the PRC State Council issued statements to promote agricultural structural reform on accelerating the cultivation in the agricultural development.
The company expanded its business operations to include soil restoration for farmland in China. The Kiwa smart-soil technology is already being supported by the government in China.
About Kiwa Bio-Tech Products Group Corp.
Kiwa Bio-Tech Products Group Corp. (KWBT) is a publicly traded company with corporate headquarters in the United States. The company develops, manufactures, markets and distributes innovative and environmentally safe bio-technological products for agriculture. Kiwas focus is to positively impact the environment by reducing the amount of chemicals 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 Companys 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 Companys reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Companys estimates as of the date of the press release, and subsequent events and developments may cause the Companys 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 Companys estimates of its future financial performance as of any date subsequent to the date of this press release
Kiwa Bio-Tech Products Group Corp.
3200 Guasti Road
Ontario, CA 91761
Note: The following news is from Kiwa Bio-Tech Products Group Corp., and World Stock Wire, Inc. is not liable for the contents of this news.