- Attributes majority of increase to consumer product sales through wholly owned subsidiaries
- Hemp oil and liquor product sales increased by 28,859 percent
- Cryptocurrency revenue increase of 1,062 percent
- Plans to expand CBD products beyond China and Los Angeles and throughout the U.S., Canada and Asia
In a recent press release (http://nnw.fm/7eHVM), ChineseInvestors.com, Inc. (OTCQB: CIIX), the premier financial information website for Chinese-speaking investors, reported a 41 percent year-over-year increase in revenues for the 2018 fiscal year. The company attributes the majority of this increase to consumer product sales through its wholly owned subsidiaries, ChineseHempOil.com Inc. and CBD Biotechnology Co., Ltd.
According to Warren Wang, CEO of ChineseInvestors.com, the significant growth in revenue is largely attributed to CIIX’s consumer product line and strategic focus on CBD hemp sales in China. Hemp oil and liquor products have increased the company’s consumer product sales by 28,859 percent. At the close of the 2017 fiscal year, consumer product sales were at $1,308. At the close of the 2018 fiscal year, sales were at $377,719.
While strategically focusing on CBD hemp sales, CIIX also expanded subscription services and educational offerings to cover the cryptocurrency market. The company has plans to establish a cryptocurrency ATM network and a domestic online coin-to-coin exchange for Chinese cryptocurrency investors. In a news release, Wang stated, “While our subscription revenues decreased slightly in FY 2018, we have been developing opportunities around new services and educational products which we have seen gain tremendous traction.” In fact, the company’s cryptocurrency lines have seen a revenue increase of 1,062 percent in the last year. At the close of the 2017 fiscal year, cryptocurrency revenue was at $19,453 compared to the current 2018 fiscal year total of $206,648.
Wang continues, “Looking forward, with our consumer products segment posting strong revenues and the regulatory climate appearing to lean in favor of legalizing hemp as an agricultural commodity, we intend to continue to expand our consumer division by dedicating more resources to marketing hemp-based CBD products both domestically and in China. At the same time, we will continue to offer our core financial subscription services with a focus on increasing subscription revenues through targeted marketing of the Company’s new cryptocurrency subscription services and educational products.” CIIX’s operations for its fiscal year ended May 31, 2018, can be found in the annual report on Form 10-K, as filed with the SEC on August 29, 2018 (http://nnw.fm/Xl0T8).
As the company looks to the future, Wang projects a long term $10-$20 million future market cap for ChineseHempOil.com, Inc. There are plans to expand CBD products beyond China and Los Angeles and throughout the U.S., Canada and Asia (http://nnw.fm/6tUVf). Wang is hopeful that the spinoff of CIIX’s CBD subsidiary, ChineseHempOil.com, Inc., will be completed by the end of the year. Following the spinoff, CIIX plans to refocus on its original mission of providing financial information and services to the global Chinese-speaking community.
For more information, visit the company’s website at www.ChineseInvestors.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com