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Renhuang Pharmaceuticals, Inc. Announces Solid Fourth Quarter and Fiscal Year 2007 Results
Date:5/29/2008

HARBIN, China, May 29 /Xinhua-PRNewswire-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or "the Company"), a leading pharmaceutical company in the People's Republic of China ("PRC"), today reported solid financial results for the fourth quarter and fiscal year ended October 31, 2007.

Fourth Quarter Fiscal 2007 Highlights

-- Total revenues increased to $7.1 million, up 5% from the fourth

quarter of 2006

-- Gross profit reached $3.6 million, up 19% from the fourth quarter of

2006

-- Gross margin was 51%, up from 45% in the fourth quarter of 2006

-- Operating income totaled $1.1 million

-- Net income was $1.1 million, or $0.03 per diluted share

Full Year 2007 Highlights

-- Total revenues in 2007 were $28.0 million

-- Gross profit in 2007 was $14.3 million

-- Gross margin was 51%

-- Operating income was $9.6 million

-- Net income increased to $9.6 million, or $0.27 per fully diluted share

"This was a very key year for Renhuang Pharmaceuticals. We performed well on promotions and advertisements and enhanced our production processes. We also focused on our best selling product, Acanthopanax, and continued to work with scientific institutions to enhance our research and development capabilities," said Mr. Shaoming Li, Chairman and CEO of Renhuang. "We will continue to maintain this strategy in the year ahead and plan to explore new markets and increase sales."

Fourth Quarter 2007 Results

Renhuang's total revenues in the fourth quarter were $7.1 million, a slight increase of 5% over the fourth quarter of 2006. This was attributed to sales of its Acanthopanax products, which accounted for about 51% of the total revenues

Gross profit in the fourth quarter of 2007 was $3.6 million, an increase of 19% over the fourth quarter of 2006. Gross margin for the quarter increased to 51% from 45% in the fourth quar
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SOURCE Renhuang Pharmaceuticals, Inc.
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