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Tongjitang Chinese Medicines Company Reports Second Quarter 2010 Financial Results
Date:8/18/2010

,025 Short-term bank deposit 50,000 52,500 82,500 12,165 Notes receivable 70,248 60,728 51,556 7,602 Accounts receivable, net of allowance for doubtful accounts 232,038 240,253 233,771 34,472 Inventories 139,100 167,348 164,906 24,317 Trading securities 1,447 1,512 1,193 176 Prepaid advertising expenses 1,204 1,147 3,949 582 Receivable on sales of property, plant and equipment 9,320 9,320 9,320 1,374 Other prepaid expenses and current assets, net of allowance for doubtful accounts 16,139 26,816 28,250 4,168 Deferred tax assets 7,565 6,508 7,031 1,037 Total current assets 764,639 774,277 867,469 127,918 Property, plant and equipment, net (Note 2) 172,097 252,384 248,950 36,710 Land use rights, net 42,515 43,181 42,896 6,325 Deposit for acquisition of a subsidiary 120,599 -- -- -- Deposits for acquisition of property, plant and equipment, and intangible assets 162,440 172,331 177,351 26,152 Deferred tax assets 2,809 2,652 2,660 392 Long-term other assets 1,000 1,752 1,566 231 Acquired intangible assets, net (Note 2) 27,592 27,711 26,277 3,875 Goodwill (Note 2) 2,345 81,868 81,582 12,030 Receivable on sales of property, plant and equipment 9,170 6,840 4,510 665 Total assets 1,305,206 1,362,996 1,453,261 214,298 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term borrowings 101,100 112,522 150,026 22,123 Accounts payable 38,288 41,302 32,944 4,858 Accrued expenses and other current liabilities 161,433 185,973 196,538 28,981 Income taxes payable 3,089 2,589 2,066 305 Unrecognized tax benefit 937 962 976 144 Amounts due to related parties 900 13,948 7,010 1,034 Total current liabilities 305,747 357,296 389,560 57,445 Long-term bank loans 50,000 50,000 112,000 16,516 Deferred tax liabilities 11,868 29,236 30,240 4,459 Total liabilities 367,615 436,532 531,800 78,420 Total shareholders' equity attributable to the Company 937,591 924,759 919,837 135,639 Non-controlling interest -- 1,705 1,624 239 Total equity 937,591 926,464 921,461 135,878 Total liabilities
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SOURCE Tongjitang Chinese Medicines Company
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