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China Pharma Holdings, Inc. Reports Third Quarter 2013 Financial Results
Date:11/15/2013

cal facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as the achievability of financial guidance, success of new product development, unanticipated changes in product demand, increased competition, downturns in the Chinese economy, uncompetitive levels of research and development, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations except as required by applicable law or regulation.

Contact:

China Pharma Holdings, Inc.
Phone: +86-898-6681-1730 (China)
Email: hps@chinapharmaholdings.com

- FINANCIAL TABLES FOLLOW -  CHINA PHARMA HOLDINGS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)September 30,December 31,20132012ASSETSCurrent Assets:Cash and cash equivalents$
4,505,498$
4,029,708Banker's acceptances281,488101,570Trade accounts receivable, less allowance for doubtfulaccounts of $12,531,218 and $4,429,945, respectively52,516,83166,175,570Other receivables, less allowance for doubtfulaccounts of $78,434 and $49,881, respectively541,13180,799Advances to suppliers5,596,5204,816,354Inventory, less allowance for obsolescence of $5,170,866 and $1,769,984, respectively32,637,43436,359,516Deferred tax assets2,195,131967,671Total Current Assets98,274,033112,531,188Advances for purchases of intangible assets41,545,06539,263,977Property and equipment, net of accumulated depreciation of$5,036,637 and $4,273,373, respectively20,594,6789,031,894Intangible a
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SOURCE China Pharma Holdings, Inc.
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