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Kiwa Bio-Tech announces agreement with China State-Owned enterprises to develop new fertilizer market areasqrcode

Mar. 31, 2020

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Mar. 31, 2020
Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or “the Company”), an emerging agricultural company that develops, manufactures and markets bio-fertilizers for use in the multi-billion China agriculture and aquaculture markets and the developer of smart soil remediation technology for use in agriculture markets worldwide announces that the company has signed a cooperation agreement with Huaxialitai Co., Ltd.

On March 25, Kiwa Bio-Tech signed a cooperation agreement with Huaxialitai Co., Ltd., a China state-owned enterprise that has an enormous fertilizer market channel throughout the Country of China. Under terms of the agreement, Huaxialitai will start to sell Kiwa’s fertilizer products in the second quarter of 2020. The sales area includes Gansu, Jilin and other regions. It is anticipated that the first order will be at least $7,500,000 USD.

“As all of us experience the challenges and impacts associated with the efforts to mitigate the COVID-19 outbreak, Kiwa eliminated the adverse factors brought by the epidemic and completed 80% of the quarterly sales plan.” Stated Mr. Wade Li, Kiwa’s CEO.

Currently, the customers in Xinjiang, Hainan, Shandong and Shaanxi have started to use Kiwa fertilizer for spring farming season. After the resumption of our production, Kiwa fertilizer has delivered 24,000 tons of Kiwa bio-organic fertilizer, 8,800 tons of Kiwa compound microbial fertilizer and 800 tons of Kiwa water soluble fertilizer for the first quarter of 2020.

“Kiwa plans to achieve fertilizer sales of no less than 200,000 tons in 2020, which will increase by nearly 20% compared with our total sales in 2019.” Added Li.

“Kiwa Bio-Tech expects the value of the company to continue to improve during the next 12 months due to increased sales performance and will not use reverse splitting of shares to improve the share price.” Stated Kiwa Bio-Tech’s CFO Mr. Man Yun.

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