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China Medicine Announces First Quarter 2009 Results
Date:5/13/2009

91) Accounts receivable, trade 4,279,540 959,968 Inventories (3,160,625) (793,559) Advances to suppliers (3,302,140) (662,079) Other current assets (38,849) (79,904) Accounts payable, trade (3,402) (30,774) Other payables and accrued liabilities (17,056) (49,957) Customer deposits (62,312) (54,499) Taxes payable (201,065) (142,540) Net cash used in operating activities (1,451,035) (1,142,167) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of equipment (25,478) (4,490) Long term prepayment 469,949 -- Net cash provided by (used in) investing activities 444,471 (4,490) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of options and warrants -- 362,500 Net cash provided by financing activities -- 362,500 EFFECT OF EXCHANGE RATE ON CASH (14,295) 193,444 DECREASE IN CASH (1,020,859) (590,713) CASH, beginning of period 2,791,814 5,767,774 CASH, end of period $1,770,955 $5,177,061 For more information, please contact: Company Contact: Ms. Huizhen Yu Chief Financial Officer China Medicine Corp Tel: +86-20-8739-1718 Email: konzern08@163.com Investor Relations Contact:
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SOURCE China Medicine Corporation
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