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China Bio Energy Reports Fourth Quarter and Record 2008 Financial Results
Date:3/23/2009

December 31, 2008 2007 Sales 59,057,147 22,269,492 Cost of goods sold 51,549,964 19,553,247 Gross Profit 7,507,183 2,716,245 12.7% 12.2% Operating expenses Selling expenses -- -- General and administrative expenses 1,035,373 885,273 Total operating expenses 1,035,373 885,273 Income from operations 6,471,810 1,830,972 11.0% 8.2% Non-operating income (expense) Interest expenses (31,714) (43,594) Subsidy income 116,157 328,697 Other income (expenses) (60,901) (17,427) Stock-based compensation - make good provision (9,838,354) -- Total Non-operating income (expense) (9,814,812) 267,676 Net income (3,343,002) 2,098,648 -5.7% 9.4% Other comprehensive item Foreign currency translation gain (loss) (172,446) 1,189,031 Comprehensive income (3,515,448) 3,287,679 -6.0% 14.8% Net income (3,343,002) 2,098,648 Deemed dividend to preferred stockholders 863,014 3,398,534 Net income available to common stockholders (4,206,016) (1,299,886) Basic
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SOURCE China Bio Energy Holdings Group
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