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China Medicine Announces Record Fourth Quarter and 2008 Results
Date:3/26/2009

(64,938) 176,763 Taxes payable 266,606 145,730 Accrued Expenses 2,608 -- Net cash provided by (used in) operating activities 4,209,084 (2,310,113) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of equipment (2,666,014) (389,588) Long term prepayment (5,197,253) -- Net cash used in investing activities (7,863,267) (389,588) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of warrants and options 362,500 7,829,681 Net cash provided by financing activities 362,500 7,829,681 EFFECT OF EXCHANGE RATE ON CASH 315,723 266,314 (DECREASE) INCREASE IN CASH (2,975,960) 5,396,294 CASH, beginning of year 5,767,774 371,480 CASH, end of year $2,791,814 $5,767,774 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: Mr. Crocker Coulson, President CCG Investor Relations Tel: +1-646-213-1915 (NY Office) Email: crocker.coulson@ccgir.com Web: http://www.ccgirasia.com
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SOURCE China Medicine Corporation
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