CLAREMONT, CA--(Marketwired - Apr 18, 2017) - Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT). On April 18, 2017, Kiwa Bio-Tech Products Group Corporation ("Kiwa" or the "Company") reported its operating results for most recent fiscal year ended December 31, 2016. For the fourth quarter, Kiwa reported revenue of $9,617,845 and net income of $963,296.
"2016 was a remarkable year for the Company. We made progress in all aspects of our corporate development, from corporate structuring to fundraising, from new product development to market expansion, and from revenue generation to cost saving," stated Yvonne Wang, CEO of Kiwa. "The Company's profit was recognized through its wholly-owned China subsidiary," Wang commented.
Wang continued, "Looking forward to 2017, we see continued opportunities for growth. On one hand, we are very pleased that we exceeded our business plan in 2016, on the other, we are committed to working more diligently to improve our fundamentals and deliver excellent results to our investors in 2017."
For more information on Kiwa and its products, please refer to the Company's website at www.kiwabiotech.com or the Company filings with the United States Securities and Exchange Commission, available for free at www.sec.gov.
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 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.