- CIIX CEO speaks to attaining profitability in 2020 as company grows revenue
- Subsidiary CBD Biotech and CBD cosmetics instrumental in driving CIIX’s growth
- CIIX leadership focusing on cost cutting, maintaining profitability, and increased revenue with high margin product sales
ChineseInvestors.com Inc. (OTCQB: CIIX) CEO Warren Wang spoke optimistically about his company’s growth potential in a recent MoneyTV interview with host Donald Baillargeon. Wang said the company would focus in 2020 on building more revenue from high margin products and cutting costs to achieve profitability. He also emphasized the important role subsidiary CBD Biotech and CBD-infused cosmetics products would play in China.
He cited the high gross margins of CBD cosmetics for the company and said the firm would work to bring more of that profitability down to the bottom line through lower costs and restructuring. CIIX offers a variety of products in its line, ranging from hemp wine to CBD-infused cosmetics.
“We can achieve in cosmetic products a 10X to 20X profit margin. That’s quite a big profit,” Wang said in the interview (http://cnw.fm/6imjU). “Our goal is to make the company healthier by stabilizing it and making it not as reliant on the street for financing.”
Facing competition and regulatory challenges, Wang’s strategy is to increase product sales to consumers in 2020 and increase focus by splitting the company into smaller strategic components labeled the B2B and B2C divisions. The B2C division, he said, would focus on marketing and selling to consumers while the B2B division would be responsible for maximizing revenue to wholesalers and through multi-level social media outlets. Together, their aim is to raise sales, cut costs and achieve profitability.
Its subsidiary CBD Biotech in China will then leverage its main asset: its customer base of 40,000 consumer clients. “We are going to use this database of the 40,000 repeat customers and analyze it with CRM software, and then we will try to analyze how to encourage our customers to buy more of our products,” Wang said.
In an earlier letter to CIIX shareholders, Wang noted CIIX’s intent to streamline its operations and maximize current resources across the board to achieve profit. As it refocuses on its core investor relations business and continues to build on to its industrial hemp-infused product line in China and the U.S., Wang is optimistic. “Although we still have work to do in this regard, with these objectives in mind, with a dedicated and experienced management team, and most importantly, the continued support of our loyal shareholders, we look forward to a healthy FY2020,” Wang added in a news release (http://cnw.fm/Fl1wm).
Wang also described the company’s goal to diversify its revenue streams in FY2020. It plans to focus on its core investor relations business as well as continue to expand and market its industrial hemp-infused/CBD products in China and the United States for greater revenues and profits.
CIIX offers its audience of Chinese-speaking investors real-time market commentary, analysis and educational-related services in Chinese character language sets.
For more information, visit the company’s website at www.ChineseInvestors.com
NOTE TO INVESTORS: The latest news and updates relating to CIIX are available in the company’s newsroom at http://cnw.fm/CIIX
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW 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. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.cannabisnewswire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have a questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CannabisNewsWire is part of the InvestorBrandNetwork.
