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Shengtai Pharmaceutical, Inc. Reports Record 2007 Annual Results
Date:9/28/2007

41,454

Allowance for bad debts 271,602 114,780

Loss on building disposal 186,470 --

Gain on disposal of land use right (1,647,833) --

(Earnings) loss on equity investment (131,420) (41,635)

Change in assets and liabilities:

Accounts receivable (2,288,351) (261,286)

Notes receivable (591,936) (126,992)

Other receivables (1,082,008) 1,567

Other receivables - related party (2,427,043) --

Other receivables - shareholder (366,185) --

Inventories (2,394,250) 173,225

Prepayments 99,957 (28,710)

Prepayments - related party 1,409,944 301,037

Accounts payable 1,773,031 176,458

Accounts payable - related party 390,986 200,660

Accrued liabilities 130,238 (65,014)

Other payable 410,174 166,860

Customer deposit 492,586 201,045

Taxes payable 1,385,613 (14,792)

Net cash provided by operating activities 5,052,502 6,528,302

CASH FLOWS FROM INVESTING ACTIVITIES:

Acquisition of equity investment (909,439) (124,020)

Purchase plant and equipment (731,295) (418,498)

Additions to construction in progress (10,308,985) (5,814,096)

Acquisition of land use right (949,900) --

Purchase of software program (1,281) --

Advance on plant and equipment purchase
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SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2007 PR Newswire.
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