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Sinobiopharma Presents Highlights from Unaudited First Quarter Financial Results for the 3 Month Period Ended August 31, 2009
Date:10/20/2009

NANTONG CITY, China, Oct. 21 /PRNewswire-Asia-FirstCall/ -- Sinobiopharma, Inc. (OCT Bulletin Board: SNBP) ("Sinobiopharma" or, the "Company") is pleased to present the following highlights from the unaudited financial results for the first quarter ended August 31, 2009.

The highlights feature record revenues and increases in both gross margin and net profit, and a Company milestone of posting its first overall net profitable quarter since the second quarter 2008, according to Dr. Lequn Lee Huang, Sinobiopharma President and CEO.

    -- Revenue increased to US $1,293,764 for the three months ended August 31,
       2009 from US $931,203 in the corresponding period ended August 31, 2008,
       an increase of 39%.

    -- Gross profit increased 57% to US $962,923, reflecting a 74% gross
       margin for the three months ended August 31, 2009.  This compares to US
       $612,428, and a 66% gross margin, reported for the corresponding period
       ended August 31, 2008.

    -- Net profit of the Company's wholly owned operating subsidiary, Dong
       Ying (Jiangsu) Pharmaceutical Co., Ltd., increased to US $561,292,
       representing 43% of sales revenue, for the three months ended August 31,
       2009 from US $218,031 in the corresponding period ended August 31, 2008,
       a year-over-year increase of more than 154%.

    -- With a net profit overall of US $237,167 for the three months ended
       August 31, 2009, the quarter marks the first time Sinobiopharma has
       moved from loss to net profitability.  During the quarter, the main
       expense affecting the net result was a stock-based compensation charge
       of US $324,125. The charge has been fully amortized in this quarter,
       reflecting the vesting of stock options granted by the Company.

    -- Growth in sales and the improvement in gross margin were both due to
       continued strong demand for of Cisatracurium Besylate, which
       contribute
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SOURCE Sinobiopharma, Inc.
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