Date:11/11/2010

and $1,359,048, respectively26,342,40619,332,284TOTAL ASSETS$   121,540,904$ 100,941,062LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Trade accounts payable$
4,400,332$
3,957,923Accrued expenses55,04347,435Accrued taxes payable2,180,8511,528,691Other payables75,56058,191Advances from customers1,030,7661,037,693Other payables - related parties303,64475,741Short-term notes payable2,985,9213,802,726Total Current Liabilities11,032,11710,508,400Long-term research and development commitments-36,565Total Liabilities11,032,11710,544,965Stockholders' Equity:Preferred stock, $0.001 par value; 5,000,000 shares authorized;no shares issued or outstanding--Common stock, $0.001 par value; 95,000,000 sharesauthorized; 43,393,642 shares and 42,308,350 sharesoutstanding, respectively43,39342,308Additional paid-in capital24,041,61621,178,114Retained earnings78,328,69863,272,868Accumulated foreign currency translation adjustment8,095,0805,902,807Total Stockholders' Equity110,508,78790,396,097TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$   121,540,904$ 100,941,062CHINA PHARMA HOLDINGS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSAND COMPREHENSIVE INCOME(Unaudited)For the Three Months EndedFor the Nine Months EndedSeptember 30,September 30,2010200920102009Revenue$ 18,680,390$ 15,522,953$ 50,414,254$ 42,116,290Cost of revenue11,055,2548,979,08329,610,97323,724,155Gross profit7,625,1366,543,87020,803,28118,392,135Operating expenses:Selling expenses449,295807,2311,653,7632,013,915General and administrative expenses873,157521,6762,420,4121,563,330Bad debt expense (benefit)107,186(2,836,495)215,707(2,101,710)Total operating expenses1,429,638(1,507,588)4,289,8821,475,535Government subsidy income--465,663-Income from operations6,195,4988,051,45816,979,06216,916,600Other income (expense):Interest income1,1473,95613,30525,265Interest expense(37,667)(24,436)(139,788)(103,143)Net other income (expense)(36,520)(20,480)(126,483)(77,878)Income before income taxes6,158,97
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SOURCE China Pharma Holdings, Inc. Copyright©2010 PR Newswire. All rights reserved

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