Kiwa Bio-Tech Products Group Corp. is pleased to provide this corporate update for all shareholders and potential shareholders. Kiwa Bio-Tech is a fully reporting publicly traded company currently listed on the Over-The-Counter Market in the United States. The company has the majority of its fertilizer business operations and its corporate headquarters located in Yangling, Shaanxi, China.
Kiwa certainly values of all of our employees, clients, consultants, and shareholders. Currently, the Country of China has been dramatically impacted by the outbreak of the coronavirus. At the moment, our top priority is the safety and well-being of our entire staff working throughout the Country of China.
Last week, the World Health Organization (WHO) has declared a public health emergency of international concern amid the coronavirus outbreak in China. Chinese regime officials have ordered the lockdown a number of cities in an attempt to quarantine the area, affecting tens of millions of people. Most forms of transportation have been banned. In addition, Chinese officials have extended the New Year holiday to February 10, 2020, and will make further notices in the country, to keep people at home in an effort to contain the spread of the deadly coronavirus.
While the timing of business and banking is traditionally slower during before and after Chinese New Year. Kiwa Bio-Tech remains confident in the long-term outlook in China and we expect our 2020 revenues to surpass our 2019 record-breaking year.
Our ongoing strategy remains committed to utilizing corporate sales and bank loan as a methods to reduce and pay-off any current debt. Presently, our cash is being used as a reserve for purchasing raw materials that are required for future 2020 production. Some of our year-end account receivables have been delayed, which has prolonged the company’s ability to pay off its existing convertible notes. However, management believes that once these notes are paid off, then the market price of our stock and valuation of our company will be better reflected.
We’re unable to answer any of your questions until most of our employees and clients return to work. As part of our corporate investor relations policy, we suggest that you visit our website for future updates and press releases throughout the year.
Thank you and Happy New Year!
Kiwa Bio-Tech Products Group Corporation
Forward-Looking Statements
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 U.S. 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’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 Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
