China Pharma Holdings, Inc. Announces Record 2007 Year E...(atements for purposes of the safe harbor...)

Date:3/31/2008

atements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand, increased competition, failure to obtain or maintain intellectual property protection, downturns in the Chinese economy, uncompetitive levels of research and development, failure to obtain regulatory approvals, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only 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.

CHINA PHARMA HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

December 31, December 31,

2007 2006

ASSETS

Current Assets:

Cash and cash equivalents $ 1,830,335 $ 656,441

Trade accounts receivable, less

allowance for doubtful

accounts of $2,440,852 and

$1,562,494, respectively 18,572,976 12,101,979

Other receivables, less allowance

for doubtful accounts of

$43,908 and $27,517,

respectively 496,313 355,554

Deferred offering costs -- 59,390

Advances to suppliers 3,481,948 2,255,877

Inventory
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SOURCE China Pharma Holdings, Inc. Copyright©2008 PR Newswire. All rights reserved

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