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Shengtai Pharmaceutical, Inc. Reports Strong Second Quarter Results of Fiscal Year 2008
Date:2/14/2008

(313,162) 299,581

Customer deposit 417,062 398,934

Payable - officer 31,145

Taxes payable 1,671,334 33,746

Net cash provided by

operating activities 9,628,193 2,447,863

CASH FLOWS FROM INVESTING ACTIVITIES:

Acquisition of equity

investment -- (898,150)

Purchase plant and

equipment (28,455) (415,524)

Proceeds from equipment

disposal 34,733

Additions to construction

in progress (5,865,225) (7,553,156)

Acquisition of land use

right (317,183) (10,677)

Purchase of software

program (5,343) --

Advances on plant and

equipment purchase (5,226,396) --

Loan repayment from

related party 667,950

Loan to related party -

non-current -- (723,205)

Net cash used in

investing activities (10,739,919) (9,600,712)

CASH FLOWS FROM FINANCING ACTIVITIES:

Decrease in restricted

cash 3,842,060 28,071

Borrowings on notes

payable - banks 1,335,900 7,055,930

Payments on notes payable

- banks (9,084,120) (7,084,000)

Borrowings on short term

loans 3,566,853 13,168,650

Payments on short term'/>"/>

SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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