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China Biologic Reports Financial Results for the First Quarter of 2013
Date:5/8/2013

n>Accounts receivable (3,294,140)(7,933,930)Prepayment and other current assets(569,804)(657,056)Inventories (647,310)1,146,821Accounts payable 25,644(881,402)Other payables and accrued expenses (2,068,529)(3,584,253)Advance from customers 1,451,180668,207Due to related parties94,3462,482,577Income tax payable 1,267,826(1,569,925)Net cash provided by operating activities

$

22,030,185$

8,208,202CASH FLOWS FROM INVESTING ACTIVITIES:Payment for property, plant and equipment (4,977,306)(2,325,870)Payment for intangible assets and land use rights (802,136)(318,622)Proceeds from sale of property, plant and equipment2,416-Net cash used in investing activities

$

(5,777,026)$

(2,644,492)CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from stock option exercised

$

1,815,858$

-Repayment of short term bank loans (3,186,400)(6,352,000)Acquisition of noncontrolling interest(1,963,913)-Dividend paid by subsidiaries to noncontrolling interest shareholders (4,397,232)(4,382,880)Net cash used in financing activities

$

(7,731,687)$

(10,734,880)EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH 579,112733,956NET INCREASE (DECREASE) IN CASH

$

9,100,584$

(4,437,214)Cash and cash equivalents at beginning of period129,609,31789,411,835Cash and cash equivalents at end of period

$

138,709,9
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SOURCE China Biologic Products, Inc.
Copyright©2012 PR Newswire.
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