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Simcere Pharmaceutical Group Reports Unaudited Second Quarter 2008 Results
Date:8/5/2008

nths of 2008 was 24.9% as compared to 23.2% for the first six months of 2007.

Basic earnings per American Depository Share (ADS) for the second quarter of 2008 and the first six months of 2008 were RMB1.52 (US$0.22) and RMB3.32 (US$0.48) respectively, and diluted earnings per ADS for the second quarter of 2008 and the first six months of 2008 were RMB1.48 (US$0.22) and RMB3.23 (US$0.47) respectively. Each ADS represents two ordinary shares.

As of June 30, 2008, the Company had cash and cash equivalents (including pledged bank deposits), and short term investments of RMB949.0 million (US$138.4 million) compared to RMB968.3 million as of December 31, 2007.

Financial Outlook

Based on its first six months performance, the Company has adjusted its targeted total revenue for the full year 2008 to be in the range between RMB1.7 billion and RMB1.8 billion. The Company maintains its targeted net income for the full year 2008 to be in the range between RMB390.0 million and RMB400.0 million.

The above targets are based on the Company's current views on the operating and marketing conditions which are subject to change.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as ''anticipate,'' ''believe,'' ''estimate,'' ''expect,'' ''forecast,'' ''intend,'' ''may,'' ''plan,'' ''project,'' ''predict,'' ''should'' and ''will'' and similar expressions. In particular, the quotations from management in this press release contain forward-looking statements. These forward looking statements are based upon management's current views and expectations with respect to future
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SOURCE Simcere Pharmaceutical Group
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