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China Pharma Holdings, Inc. Reports Full Year 2010 Financial Results
Date:3/3/2011

Trade accounts receivable, less allowance for doubtfulaccounts of $3,317,017 and $2,718,358, respectively61,947,73751,238,339Other receivables, less allowance for doubtfulaccounts of $15,669 and $3,556, respectively65,01978,525Advances to suppliers5,311,8961,798,446Inventory20,388,93514,233,073Deferred tax assets528,684319,820Total Current Assets91,934,35771,302,956Advances for purchases of property and equipment and intangible assets4,395,3313,599,949Property and equipment, net of accumulated depreciation of$2,695,840 and $2,020,462, respectively6,372,4876,705,873Intangible assets, net of accumulated amortization of$2,342,081 and $1,359,048, respectively29,048,76619,332,284TOTAL ASSETS$ 131,750,941$ 100,941,062LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Trade accounts payable$
4,937,781$
3,957,923Accrued expenses98,20647,435Accrued taxes payable2,386,0191,528,691Other payables92,07758,191Advances from customers1,208,9881,037,693Other payables - related parties303,64475,741Short-term notes payable3,781,1193,802,726Total Current Liabilities12,807,83410,508,400Long-term deferred tax liability71,673-Long-term research and development commitments-36,565Derivative warrant liability934,2602,523,148Total Liabilities13,813,76713,068,113Stockholders' Equity:Preferred stock, $0.001 par value; 5,000,000 shares authorized;no shares issued or outstanding--Common stock, $0.001 par value; 95,000,000 shares authorized;43,404,557 shares and 42,308,350 shares outstanding, respectively43,40542,308Additional paid-in capital23,252,47620,325,157Retained earnings85,017,02461,602,677Accumulated other comprehensive income9,624,2695,902,807Total Stockholders' Equity117,937,17487,872,949TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$ 131,750,941$ 100,941,062--CHINA PHARMA HOLDINGS, INC.CONSOLIDATED STATEMENTS OF OPERATIONSAND COMPREHENSIVE INCOMEFor the Years EndedDecember 31,20102009(As Adjusted - Note 1) Revenue$   74,388,180$
,696,620Cost of revenue44,105,4473
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SOURCE China Pharma Holdings, Inc.
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