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Weikang Bio-Technology Group Co., Inc. Announces Fiscal Year 2011 Financial Results
Date:4/2/2012

iabilities of $7.56 million. In addition, at December 31, 2011, working capital was $40.50 million and the ratio of current assets to current liabilities was 19.79-to-1.

Net cash provided by operating activities was $30.45 million for the year ended December 31, 2011, compared to $34.19 million for the same period of 2010. The decrease in net cash inflow from operating activities was mainly due to a significant increase in accounts receivable outstanding as a result of the increase in sales, prepayment to suppliers and inventory, despite of the increase in net income.

Net cash used in investing activities was $15.03 million for the year ended December 31, 2011, compared to cash used in investing activities of $0.73 million for the year ended December 31, 2010.  The cash outflow during the year ended December 31, 2011 was mainly due to purchase of a new workshop building and acquisition of manufacturing equipment.

Net cash provided by financing activities was $2.02 million for the year ended December 31, 2011 compared to $4.35 million cash inflow for the comparable period of 2010. The cash inflow in financing activities during the year of 2011 mainly consisted of proceeds of $2.02 million from common stock and warrants issued in a series of private placements. The net cash inflow in financing activities during the year of 2010 mainly consisted of proceeds of $4.32 million from common stock and warrants issued in another private placement.

About Weikang Bio-Technology Group Co., Inc.

Weikang Bio-Technology Group Co., Inc. is principally engaged in developing, manufacturing and distributing Traditional Chinese Medicine (TCM), and health and nutritional supplements in China, in compliance with requisite Chinese licenses and approvals. The Company is also expanding its business scope to develop, manufacture and distribute Chinese herbal extract products and GMP certified western prescription and OTC pharmaceuticals th
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SOURCE Weikang Bio-Technology Group Co., Inc.
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