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Shengtai Pharmaceutical, Inc. Reports Third Quarter Results of Fiscal Year 2008
Date:5/16/2008

362,035 105,702

Other payable - equipment purchase (1,241,003) --

Other payable - discount on

equipment purchase 626,370 --

Other payable - Intercompany -- --

Customer deposit 297,543 1,128,506

Taxes payable 2,261,984 316,605

Net cash provided by

operating activities 12,700,902 5,939,428

CASH FLOWS FROM INVESTING ACTIVITIES:

Acquisition of equity investment -- (904,043)

Purchases of plant and equipment (154,262) (497,603)

Proceeds from equipment disposal 35,266 --

Additions to construction in

progress (7,725,153) (11,697,698)

Acquisition of land use right (324,031) (10,747)

Purchase of software program (5,426) --

Advances on plant and equipment purchase (9,876,385) (1,069,809)

Loan repayment from related party 678,200 --

Proceed from land use right disposal 30,826 --

Net cash used in

investing activities (17,340,965) (14,179,900)

CASH FLOWS FROM FINANCING

ACTIVITIES:

Decrease (increase) in restricted cash 3,407,360 (1,518,640)

Borrowings on notes payable - banks 5,425,600 12,959,405

Payments on notes payable - banks (10,579,920) (11,431,445)

Borrowings on short term loans 12,750,160 17,100,419

Payments on short term loans (11,380,196) (7,550,669)

Borrowings on employee loans
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SOURCE Shengtai Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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