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Renhuang Pharmaceuticals Announces Continual Improvement in Days Sales Outstanding
Date:4/22/2010

HARBIN, China, April 22 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that the Company has significantly reduced its Days Sales Outstanding ("DSO"), resulting in improved cash flow from operations and healthier working capital.

For fiscal year 2009, Renhuang reported Days Sales Outstanding of 185 days. At the end of first quarter of 2010, through a variety of management initiatives, the Company effectively reduced its DSO to 117 days. Renhuang's management expects to further lower the DSO period to 100 days by the second quarter, an improvement of over 15% compared with the first quarter and over 46% compared with fiscal year 2009. Management anticipates continued improvement in Days Sales Outstanding in the coming quarters.

The Company's growing sales have contributed to the improvement in DSO. In the past, Renhuang extended special credit terms to its sales agents in order to promote sales. These favorable terms often included lengthy payment periods, resulting in longer Days Sales Outstanding. With the Company's improved position within the pharmaceuticals industry, it is no longer necessary for Renhuang to extend such favorable credit terms and current arrangements have significantly compressed payment periods.

"We continue to focus on strengthening our balance sheet and financial condition, more importantly our accounts receivables. The effective reduction in our DSO, reflects Renhuang's ability to manage risk and demonstrates improvement in our sales management," commented Mr. Shaoming Li, the Chai
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SOURCE Renhuang Pharmaceuticals, Inc.
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