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China Pharma Holdings, Inc. Reports First Quarter 2010 Financial Results
Date:5/11/2010

mpany undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.


                          - FINANCIAL TABLES FOLLOW -



                           CHINA PHARMA HOLDINGS, INC.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                                  March 31,       December 31,
                                                    2010              2009
    ASSETS
    Current Assets:
      Cash and cash equivalents                  $4,784,582        $3,634,753
      Trade accounts receivable, less
       allowance for doubtful accounts
       of $2,783,291 and $2,718,358,
       respectively                              52,470,644        51,238,339
      Other receivables, less allowance
       for doubtful accounts of $9,965
       and $3,556, respectively                      84,747            78,525
      Advances to suppliers                       2,836,250         1,798,446
      Inventory                                  15,839,393        14,233,073
      Deferred tax assets                           392,210           319,820
    Total Current Assets                         76,407,826        71,302,956
    Advances for purchases of property
     and equipment and intangible assets          4,259,792         3,599,949
    Property and equipment, net of
     accumulated depreciation of
     $2,213,723 and $2,020,462, respectively      6,537,960         6,705,873
    Intangible assets, net of accumulated
     amortization of $1,586,229 and
     $1,359,048, respectively                    20,947,900        19,332,284
    TOTAL ASSETS                               $108,153,478      $100,941,062

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Current Liabilities:
      Trade accounts payable                     $4,243,181        $3,957,923
      Accrued expenses                              
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SOURCE  China Pharma Holdings, Inc.
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