than 20%. Kiwa's fertilizer was used by the farms supplying the Olympic
-- Also in May, Kiwa announced discussions with Beijing Hai Xin Science
and Technology Co., Ltd. regarding joint product development and
marketing efforts. Hai Xin is a high technology enterprise that
specializes in mineral resource development of nonmetallic clays and
earths in order to enhance the natural functions of the materials. By
combining these earths with organic materials, improved bio-feeds and
bio-fertilizers can be manufactured for farming operations.
-- In June, Kiwa and Jiangsu Zhongdong Fertilizer Group agreed to develop
new compound bio-fertilizers to address the growing Chinese market for
compound bio-fertilizers as an alternative to chemical fertilizers.
Sales volume is expected to be $10,000,000 in next six months.
-- Also in June Kiwa received approval documents from the Ministry of
Commerce of the People's Republic of China, ratifying Kiwa Shandong to
wholesale other companies' fertilizer products, including chemical
fertilizers, complex fertilizers and compound fertilizers. Based on
applicable tax laws in China, Kiwa Shandong's new business items will
be exempt from value-added tax.
-- Kiwa Shandong has recently adjusted its product mix in cooperation
with Jiangsu Zhongdong Fertilizer Group with a focus on developing new
compound bio-fertilizers. Kiwa Shandong is also continuing to develop
new organic fertilizers to meet customer demand and is expected to
introduce new bio-fertilizer products for sale in the Chinese
fertilizer markets by the end of 2008.
-- In July Kiwa signed fertilizer sales contracts totaling RMB 150
million (over US$21 million) with Jilin Tianma Science & Te
|SOURCE Kiwa Bio-Tech Products Group Corporation|
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