Navigation Links
Kiwa Bio-Tech 1st Quarter Revenues Increase 57.8% - $2.18 Million
Date:5/9/2008

Anticipates Significant Improvement During Spring Planting Season

BEIJING and CLAREMONT, Calif., May 9 /Xinhua-PRNewswire-FirstCall/ -- Kiwa Bio-Tech Products Group Corporation (OTC Bulletin Board: KWBT) announced revenues for the first quarter of 2008 ended March 31 were $2,184,271, an increase of 57.8% above revenues of $1,384,093 for the first quarter of 2007.

The significant revenue improvement is due to the expansion in Kiwa's bio-fertilizer and bio-enhanced feed businesses. During the first quarter of 2008, revenue generated from the bio-fertilizer business increased 1136.7% to $148,104 from $11,976. Net sales contributed by the bio-enhanced feed business increased 48.4%, to $2,036,167 from $1,372,117 in the first quarter of the previous year.

The net loss increased to $686,195 for the three-month period ended March 31, 2008 compared to $639,259 for the three months ended March 31, 2007. This net loss increase was partially the result of a decrease in gross profit in the bio-feed business due to a sharp increase in prices of raw materials and an increase in interest expenses partly offset by a decrease in operating expenses. Please refer to documents filed today with the Securities and Exchange Commission for additional information on the results for the first quarter of 2008.

Mr. Wei Li, Chairman and CEO of Kiwa, stated, "Poor winter weather in some planting areas of China and world wide increases in food prices suggest that orders for the bio-fertilizer business will be strong during the Spring planting season. We are pleased that our products are receiving recognition by farmers and governmental agencies. For instance, in March, the Ministry of Agriculture of the PRC granted an initial fertilizer registration certificate to our wholly owned subsidiary, Kiwa Bio-Tech Products (Shandong) Co., Ltd. for a newly developed bio-fertilizer product, "Fudikang". Fudikang is an inoculant that speeds decomposition of organic matter. It was developed by Kiwa-CAU R&D Centre which was established by Kiwa and China Agricultural University, one of the most respected Chinese universities in the field of agriculture. Kiwa is partaking in a 2008 initiative organized by the Chinese government: 'The National Soil Organic Matter Advancement Pilot Subsidy Project'."

Mr. Wei Li also noted progress is being made related to the joint venture with Shijiazhuang Huaxing Animal Medicine Co., Ltd. ("Huaxing") and the acquisition of the factory that produces veterinary pharmaceuticals and is capable of manufacturing AF-01 antiviral for avian flu. A press release related to the joint venture and capital raised specifically for the joint venture is expected shortly.

ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION

The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources 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. For more information about the Company, please review documents filed with the SEC (http://www.sec.gov) or visit the Company's website at http://www.kiwabiotech.com .

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 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.

For more information, please contact:

Kiwa Bio-Tech Products Group Corporation

Yvonne Wang

Tel: +1-626-715-5855

Email: kiwabiotech@gmail.com

Robert Schechter

Equity Communications

Tel: +1-212-499-6809

Email: ir4kiwa@hotmail.com


'/>"/>
SOURCE Kiwa Bio-Tech Products Group Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Kiwa Bio-Tech Revenues for 1st Half Exceed $3.25 Million
2. Kiwa Bio-Tech Named Recommended Brand by the China Green Food Association
3. Kiwa Bio-Tech Completes 1st Stage of Shandong Factory Upgrading
4. Advanced Bio-Technologies Inc Announces Acquisition by HealthEdge Investment Partners, Tampa FL
5. Kiwa Bio-Tech Ships 2,700 Tons of Bio-feed in One Month
6. Align Technology, Inc. Ranked 23rd in Deloittes Technology Fast 50 Program for Silicon Valley Scientific & Medical Equipment, and Bio-Technology Companies
7. Kiwa Bio-Tech Third Quarter Revenues Increase 226% - Nine-Month Revenues $6.2 Million
8. Kiwa Bio-Tech Products Group Holds a Fertilizer Products Exhibition in Hebei
9. Kiwa Bio-Tech Products Group Holds Meetings to Build Distribution Network
10. Kiwa Bio-Tech Animal Feed Volume Increased 25% in Fourth Quarter of 2007
11. Kiwa Bio-Tech Ships 114 Tons of Bio-Fertilizer in Fourth Quarter of 2007
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/3/2016)... , ... February 03, 2016 , ... ... Linux and Unix visualization solutions today announced the addition of a powerful “Session ... users to see the current state of the remote Linux desktop or other ...
(Date:2/3/2016)... Calif. , Feb. 3, 2016  Today, Symphony ... of AlphaImpactRx , a leading provider of primary ... companies to IMS Health , a global information ... complementary offerings, capabilities and technologies will be integrated into ... growing global primary market research capabilities. ...
(Date:2/3/2016)... NEW YORK. (PRWEB) , ... February 03, 2016 ... ... manufacturer of silicon (Si) and InGaAs chips and wafers, and InP epi wafers ... ranging from silicon detectors–including photodiodes, photo transistors, and Avalanche photodiodes–to Si and ...
(Date:2/2/2016)... YORK , Feb. 2, 2016 ... clusters of commensal, symbiotic and pathogenic microorganisms that ... human body. The human microbiome is involved in ... healthy life. Majority of the microorganisms benefit humans ... otherwise not possess. These include metabolism of complex ...
Breaking Biology Technology:
(Date:1/8/2016)... MANCHESTER, United Kingdom , Jan. 8, 2016 ... innovative sensor-based diagnostic products, today announced the closing of a ... existing investors.  Proceeds from the financing will be used to ... hand-held device for detecting early-stage pressure ulcers. ... after receiving CE Mark approval. The device,s introduction has ...
(Date:1/7/2016)... , Jan. 7, 2016 This BCC Research ... for biometric technologies and devices, identifying newer markets and ... various types of biometric devices. Includes forecast from 2015 ... Identify newer markets and explore the expansion of the ... Examine each type of biometric technology, determine its current ...
(Date:1/7/2016)... -- A United States District Court in Illinois ... to interpret a biometric privacy statute in a decision ... photo website Shutterfly brought by the law firm Carey Rodriguez ... SHUTTERFLY, INC.; and THISLIFE, INC ( N.D. Ill ., ... Illinois Biometric Privacy Act by collecting and scanning face ...
Breaking Biology News(10 mins):