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3SBio Inc. Announces Unaudited Fourth Quarter and Full Year 2009 Results
Date:2/11/2010

or 8.5% of net revenue for the same period in 2008. GAAP general and administrative expenses for the fourth quarter of 2009 were RMB12.1 million (US$1.8 million), or 16.2% of net revenue, compared to RMB6.0 million (US$0.9 million), or 9.9% of net revenue for the same period in 2008.

Operating income. Non-GAAP operating income for the fourth quarter of 2009 grew by 122.5% to RMB13.5 million (US$2.0 million), compared to RMB6.1 million (US$0.9 million) in the fourth quarter of 2008. GAAP operating income was RMB9.9 million (US$1.5 million) for the fourth quarter of 2009, an increase of 12.2 million (US$1.8 million) from an operating loss of RMB2.3 million (US$0.3 million) for the same period in 2008. Non-GAAP operating margin was 18.2% for the fourth quarter of 2009, as compared to 10.1% in the same period in 2008. GAAP operating margin for the fourth quarter of 2009 was 13.4% as compared to -3.8% for the same period in 2008.

Interest income. The Company recorded net interest income of RMB2.4 million (US$0.3 million) for the fourth quarter of 2009, compared to RMB5.9 million (US$0.9 million) for the same period in 2008. This was largely due to a declining interest rate environment.

Net income. Non-GAAP net income for the fourth quarter of 2009 was RMB14.5 million (US$2.1 million), 28.0% higher than non-GAAP net income of RMB11.3 million (US$1.7 million) for the same period in 2008.
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