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Kiwa Bio-Tech 2nd Quarter Revenues Increase 61.7% to $3 Million, Six Month Revenues Top $5.2 Million
Date:8/11/2008

date 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: 626-715-5855

Email: kiwabiotech@gmail.com

Robert Schechter

Equity Communications

Tel: 212-499-6809

Email: ir4kiwa@hotmail.com CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)

Three Months Ended June 30, Six Months Ended June 30,

2008 2007 2008 2007

Net sales $ 3,027,497 $ 1,872,647 $ 5,211,768 $ 3,256,740

Cost of

sales 2,960,296 1,798,905 5,081,862 3,044,675

Gross profit 67,201 73,742 129,906 212,065

Operating expenses

Consulting

and

professional

fees 70,310 267,678 188,777 457,139

Officers'

compensation 59,431 89,427 118,463 154,469

General

and

administrative 229,147 196,499 474,517 375,523

Selling

expenses 66,127 63,642 114,581 207,267

Research

and

development 55,415 43,495 101,132 92,799

Depreciation

and

amortization 26,641 29,591 52,818 60,864

Allowance

and provision (2,439) 398 (58) 664

Total operating

expenses 504,632
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SOURCE Kiwa Bio-Tech Products Group Corporation
Copyright©2008 PR Newswire.
All rights reserved

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