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China Biologic Products Announces Record Second Quarter 2010 Results
Date:8/16/2010

, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed 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.

-FINANCIAL TABLES FOLLOW - CHINA BIOLOGIC PRODUCTS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2010 and DECEMBER 31, 2009 ASSETS June 30, December 31, 2010 2009 (Unaudited) CURRENT ASSETS: Cash and cash equivalents $56,263,131 $53,843,951 Accounts receivable, net of allowance for doubtful accounts of $1,253,975 and $1,254,955 as of June 30, 2010 and December 31, 2009, respectively 5,658,429 1,767,076 Accounts receivable - related party 229,817 222,617 Other receivables 2,291,010 2,186,441 Inventories, net of allowance for obsolete of $742,269 and $519,333 as of June 30, 2010 and December 31, 2009, respectively 41,434,786 35,132,724 Prepayments and deferred expense 1,848,327 1,299,125 Deferred tax assets 1,119,908 1,053,771 Total current assets 108,845,408 95,505,705 PLANT AND EQUIPMENT, net 35,598,253 28,873,413 OTHER ASSETS: Investment in unconsolidated affiliate 7,001,553 6,627,355 Prepayments - non-current 2,637,092 3,223,960 Intangible assets, net 19,988,081 21,180,322 Goodwill 12,425,589 12,425,589 Total other assets 42,052,315 43,457,226 Total assets $186,495,976 $167,836,344 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable $3,268,413 $3,701,843 Notes payable -- 48,598 Short term loans - bank 5,965,650 4,474,350 Short term loans - holder of no
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SOURCE China Biologic Products, Inc.
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