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China Pharma Holdings, Inc. Announces First Quarter 2008 Financial Results
Date:5/2/2008

as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

For more information, please contact:

China Pharma Holdings, Inc.

Sophia Yu

Tel: +86-898-6681-1730

Email: hps@chinapharmaholdings.com

HC International, Inc.

Alan Sheinwald

Tel: +1-914-669-0222

Email: Alan.sheinwald@hcinternational.net -- FINANCIAL TABLES FOLLOW --

CHINA PHARMA HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

March 31, December 31,

2008 2007

(Restated)

ASSETS

Current Assets:

Cash and cash equivalents $682,017 $1,830,335

Trade accounts receivable, less

allowance for doubtful accounts

of $3,019,930 and $2,440,852,

respectively 24,804,992 18,572,976

Other receivables, less allowance

for doubtful accounts of $64,230

and $43,908, respectively 476,749 413,596

Advances to suppliers 1,568,111 2,757,320

Inventory 14,810,192 14,448,771

Total Current Assets 42,342,061 38,022,998

Non-current Assets:

Property and equipment, net of

accumulated depreciation of

$1,150,987 and $1,003,802,

respectively 2,636,030
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SOURCE China Pharma Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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