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Weikang Bio-Technology Reports Second Quarter 2010 Financial Results
Date:8/16/2010

at are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

--FINANCIAL TABLES FOLLOW-- WEIKANG BIO-TECHNOLOGY GROUP CO, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS 30-Jun-10 31-Dec-09 (Unaudited) ASSETS CURRENT ASSETS Cash & cash equivalents $20,485,278 $11,380,019 Advances to suppliers and other receivables 150,537 26,079 Inventory 1,045,905 285,395 Deferred tax asset 132,788 -- Total current assets 21,814,508 11,691,493 NONCURRENT ASSETS Property and equipment, net 9,768,826 10,162,946 Construction in progress 446,823 -- Intangible assets 15,500,960 15,558,731 Total noncurrent assets 25,716,609 25,721,677 TOTAL ASSETS $47,531,117 $37,413,170 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $13,669 $12,668 Unearned revenue -- 11,716 Taxes payable 1,522,402 2,247,410 Due to related party 25,034 -- Total current liabilities 1,561,105 2,271,794 ADVANCE FORM OFFICER 650,000 650,000 OTHER PAYABLES 7,720,321 7,620,321 CONTINGENCIES DEFERRED TAX LIABILITY 3,421,953 3,450,005 STOCKHOLDERS' EQUITY Common stock, $.00001 par value; authorized shares 100,000,000; issued and outstanding shares 28,024,388 and 25,486,800 at June 30, 2010 and December 31, 2009, respectively 280 255 Additional paid in capital 4,967,720 139,245 Deferred compensation (753,306) -- Statutory reserve 1,404,276 1,069,507 Accumulated other comprehensive income 1,067,168 844,526 Retained earnings 27,491,600 21,367,517 Total stockholders' equity 34,177,738 23,421,050 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $47,531,117 $37,413,170 WEIKANG BIO-TECHNOLOGY GROUP CO, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS
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SOURCE Weikang Bio-Technology Group Co., Inc.
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