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

ncontrolling interest -- 3,652,500 Other payables and accrued liabilities 20,592,061 19,246,814 Other payable - related parties 3,100,153 3,087,527 Accrued interest - holder of noncontrolling interest -- 2,068,526 Customer deposits 4,051,003 3,868,577 Taxes payable 7,509,571 8,774,079 Investment payable 78,800 2,195,365 Current maturities of notes payable, net of discount of $7,112,409 as of June 30, 2010 387,591 -- Total current liabilities 44,953,242 51,118,179 OTHER LIABILITIES: Other payable - land use right 324,265 323,687 Derivative liability - conversion option 13,522,842 19,960,145 Fair value of derivative instruments 8,658,837 12,701,262 Notes payable, net of discount of $8,464,380 as of December 31, 2009 -- 89,760 Total other liabilities 22,505,944 33,074,854 Total liabilities 67,459,186 84,193,033 COMMITMENTS AND CONTINGENCIES EQUITY: Common stock, $0.0001 par value, 100,000,000 shares authorized, 23,513,533 and 23,056,442 shares issued and outstanding at June 30, 2010 and December 31, 2009, respectively 2,351 2,305 Additional paid-in-capital 28,070,754 22,517,077 Statutory reserves 23,233,527 17,414,769 Retained earnings 22,967,030 5,302,605 Accumulated other comprehensive income 4,520,744 4,227,394 Total shareholders' equity 78,794,406 49,464,150 NONCONTROLLING INTEREST 40,242,384 34,179,161 Total equity 119,036,790 83,643,311 Total liabilities and equity $186,495,976 $167,836,344 CHINA BIOLOGIC PRODUCTS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2010 AND 2009 (Unaudited) Three months ended Six months ended June 30, June 30, 2010 2009 2010 2009 REVENUES: Revenues $40,580,807 $33,030,868 $67,442,329 $53,936,737 Revenues - related party 327,509 150,677 564,540 393,406 Total revenues 40,908,316 33,181,545 68,006,869 54,330,143 COST OF REVENUES: Cost of revenues 9,058,906 9,161,765 15,857,760 15,376,695 GROSS PROFIT 31,849,410 24,019,780 52,149,109 38,953,448 OPERATING
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SOURCE China Biologic Products, Inc.
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