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China Bio Energy Reports Fiscal 2007 Financial Results
Date:4/1/2008

ed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

CHINA BIO ENERGY HOLDING GROUP CO., LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

As of December 31,

2007 2006

ASSETS

CURRENT ASSETS

Cash and cash equivalents $1,382,371 $ 631,443

Restricted cash 200,000 641,433

Accounts receivable, net 288,589 5,745,362

Other receivables 1,548,681 159,857

Prepaid expenses 2,896,493 --

Advance to suppliers 16,546,506 4,276,233

Inventories 12,082,962 7,303,981

Advance to shareholders -- 22,054

Due from related party 593,696 315,497

Total current assets 35,539,298 19,095,860

CONSTRUCTION IN PROGRESS -- 515,742

PROPERTY AND EQUIPMENT, net 8,166,250 704,871

TOTAL ASSETS $43,705,548 $20,316,473

LIABILITIES AND STOCKHOLDERS'

EQUITY

CURRENT LIABILITIES

Accounts payable 179,617 2,267,116

Advance from customers 499,908
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SOURCE China Bio Energy Holding Group Co., Ltd.
Copyright©2008 PR Newswire.
All rights reserved

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