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China Pharma Holdings, Inc. Reports Third Quarter 2008 Financial Results and Corporate Updates
Date:11/7/2008

maholdings.com .

About China Pharma Holdings, Inc.

China Pharma Holdings, Inc. is a specialty pharmaceutical company with rapidly growing profit that develops, manufactures, and markets treatments for a wide range of high incidence and high mortality conditions in China, including cardiovascular, CNS, infectious, and digestive diseases. The Company's cost-effective, high margin business model is driven by market demand and supported by eight scalable GMP-certified product lines covering the major dosage forms. In addition, the Company has a broad and expanding distribution network across 30 provinces, municipalities and autonomous regions. The Company is registered in Delaware, USA. Hainan Helpson Bio- pharmaceutical Co., Ltd (Helpson), located in Haikou City, Hainan Province, China, is a wholly owned subsidiary of China Pharma Holdings, Inc. For more information about China Pharma Holdings, Inc., please visit http://www.chinapharmaholdings.com .
CHINA PHARMA HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

September 30, December 31,

2008 2007

(Restated)

ASSETS

Current Assets:

Cash and cash equivalents $5,838,678 $1,830,335

Trade accounts receivable, less

allowance for doubtful accounts

of $4,124,577 and

$2,440,852, respectively 31,670,231 18,572,976

Other receivables, less allowance for

Doubtful accounts of $98,151

and $43,908,respectively 189,794 413,596

Advances to suppliers 2,276,440 2,757,320

Inventory 14,542,799 14,448,771


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SOURCE China Pharma Holdings, Inc.
Copyright©2008 PR Newswire.
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