Navigation Links
Weikang Bio-technology Group, Inc. Completes HQ Relocation After Purchasing Building for $14 Million and Answers Questions About its Third Quarter Financials
Date:12/28/2011

p>Question:

Advances to Suppliers and Other Receivable increased more than 20 times from $241,000 to $5.2 million. Please explain.

Answer:

"The raw material price has been increased significantly during the last few months affected by the inflation of the whole economy in China. We believed the prices of raw materials would continue to increase. Therefore, we entered a large contract with a large supplier to lock down the price of raw material, for which we paid about $5 million as a down payment.  We believe this is necessary to control the cost," Mr Wang said.

Question:

Income before tax was $8.4 million last year, but only $3.5 million this year. Yet, the income tax expense increased despite an almost 60% decline in taxable income. Please explain.

Answer:

"This is because there was about $4.3 million in one-time, non-cash expenses in the G&A Expenses in the last quarter, which resulted from stock issuance to some consultants and a consulting firm, which we believe are necessary and critical for our long term business development. So the income before tax was $3.5 million down from $8.4 million but since the non-cash expenses was not deductible from the taxable income for tax purposes, the income tax expense still increased along with our revenue increase," clarified Mr. Wang.

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 through its acquisition of Tianfang Pharmaceutical Co., Ltd. For more information, please visit

SOURCE Weikang Bio-Technology Group Co., Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine technology :

1. Weikang Bio-Technology to Present at Rodman & Renshaw Annual China Investment Conference
2. Weikang Bio-Technology Announces Inclusion of Ranitidine Hydrochloride Capsule on National Drug Reimbursement List
3. Weikang Bio-Technology Expects to Report Fiscal 2010 Revenue of $77.8 Million and Net Income of $31.2 Million or $1.04 Earnings per Share
4. Weikang Bio-Technology Plans to Launch New Therapeutics in First Quarter 2011
5. Weikang Bio-Technology to Present at Global Hunter 2010 China Conference on July 13, 2010
6. Weikang Bio-Technology Announces Filing for NASDAQ Listing
7. Weikang Bio-Technology Reports First Quarter 2010 Financial Results
8. Unity Management Group, Inc. Announces Its Initial Sale of the PZ UNO Tablet Press to a Major Pharmaceutical Company for $500,000
9. Unity Management Group, Inc. Receives Contract From Sun Pharmaceutical Indias Largest Pharmaceutical Companies for $105,000
10. Global Pharm Holdings Group, Inc. Announces Third Quarter 2011 Financial Results
11. Global Pharm Holdings Group, Inc. Completes Acquisition of Qingdao Likang Pharmaceutical Co., Ltd.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/22/2014)... , July 22, 2014  Halozyme Therapeutics, Inc. (NASDAQ: ... resumed enrollment and dosing of patients in its ongoing ... with pancreatic cancer under the revised clinical protocol agreed ... investigational PEGylated form of Halozyme,s proprietary recombinant human hyaluronidase ... accumulate hyaluronan. "Our diligent effort to ...
(Date:7/22/2014)... 2014  ConvaTec, a privately-held medical products and technologies ... been appointed chief financial officer of the company, effective ... executive vice president and chief financial officer of Elan ... Mr. Clerkin was part of a senior team that ... its sale to Perrigo, a pharmaceutical manufacturer, in December ...
(Date:7/22/2014)... 22, 2014  UL (Underwriters Laboratories), a global ... Food and Drug Administration (FDA) has recognized two ... medical devices incorporating lithium or nickel-based batteries. The ... Household and Commercial Batteries, and UL 1642 - ... Consensus standards are standards recognized by the FDA ...
Breaking Medicine Technology:Halozyme Resumes Patient Enrollment And Dosing In PEGPH20 Clinical Program In Pancreatic Cancer 2Halozyme Resumes Patient Enrollment And Dosing In PEGPH20 Clinical Program In Pancreatic Cancer 3ConvaTec Names Nigel Clerkin Chief Financial Officer 2Two UL Battery Safety Standards Are now FDA Recognized Consensus Standards for Medical Devices 2
... 27 The Web Marketing Association announces the ... Competition for Web site development at ... sets benchmarks for 96 industries, including healthcare, healthcare provider, ... the seven criteria of a successful web site. The ...
... NEW YORK , April 27 ... "Company"), an international,biopharmaceutical company with operations in the U.S. and ... Cell Collection,Center and Research & Development ("R&D") laboratory at the Company,s ... . , , , ...
Cached Medicine Technology:Best Health Care Website of 2010 to be Named by Web Marketing Association in 14th Annual WebAward Competition 2Best Health Care Website of 2010 to be Named by Web Marketing Association in 14th Annual WebAward Competition 3Best Health Care Website of 2010 to be Named by Web Marketing Association in 14th Annual WebAward Competition 4Best Health Care Website of 2010 to be Named by Web Marketing Association in 14th Annual WebAward Competition 5Best Health Care Website of 2010 to be Named by Web Marketing Association in 14th Annual WebAward Competition 6NeoStem, Inc. Officially Launches Adult Stem Cell Collection Center and R&D Laboratory in Cambridge, Massachusetts 2NeoStem, Inc. Officially Launches Adult Stem Cell Collection Center and R&D Laboratory in Cambridge, Massachusetts 3NeoStem, Inc. Officially Launches Adult Stem Cell Collection Center and R&D Laboratory in Cambridge, Massachusetts 4NeoStem, Inc. Officially Launches Adult Stem Cell Collection Center and R&D Laboratory in Cambridge, Massachusetts 5
(Date:7/22/2014)... New guidelines on cholesterol treatment and cardiovascular risk assessment ... of dying from atherosclerotic cardiovascular disease or of having ... a similar risk profile (based on age, smoking history, ... this finding for when and how aggressively to treat ... Journal of Men,s Health , a peer-reviewed publication from ...
(Date:7/22/2014)... Ticket Down is a reliable source for ... Field in Landover, MD. There has never been a better ... soccer. After the success of the American national soccer team at ... well. One way that fans of the world’s sport will be ... 2014 Guinness International Champions Cup. The tournament will kick off on ...
(Date:7/22/2014)... park is the heart of a community. That’s ... made a recent investment in outdoor recreation and fun ... equipment from American Parks Company™. , The community of ... a 475-unit community that was established in the 1970s. ... tropical paradise with lush shade trees, green-edged walking and ...
(Date:7/22/2014)... Kathleen Doheny HealthDay Reporter ... with a minimally invasive procedure known as morcellation carries a ... pinpoints the likelihood more clearly. Twenty-seven of every 10,000 ... the time of the procedure, researchers found, with the odds ... Surgeons performing a hysterectomy with morcellation use a power cutter ...
(Date:7/22/2014)... CarePoint Health is pleased to announce that Dr. Howard Levine ... staff at Bayonne Medical Center. The election marks the 5th ... by the physicians on staff. The office of President represents ... administration at Bayonne Medical Center. Dr. Levine is responsible to ... the Medical Center the best it can be to serve ...
Breaking Medicine News(10 mins):Health News:Manchester United vs. Inter Milan Tickets Fedex Field Landover: Ticket Down Slashes Ticket Prices for Inter Milan ManU International Champions Cup Match in Washington, DC 2Health News:Manchester United vs. Inter Milan Tickets Fedex Field Landover: Ticket Down Slashes Ticket Prices for Inter Milan ManU International Champions Cup Match in Washington, DC 3Health News:Fun in the Florida Sun: Kendalltown Homeowners Association Inc. Expands Outdoor Recreation with American Parks Company™ 2Health News:Fun in the Florida Sun: Kendalltown Homeowners Association Inc. Expands Outdoor Recreation with American Parks Company™ 3Health News:Technique Used in Some Hysterectomies May Help Spread Cancer: Study 2Health News:Technique Used in Some Hysterectomies May Help Spread Cancer: Study 3Health News:Dr. Howard Levine Elected President of the Medical Staff at Bayonne Medical Center 2
... 6 TrailBlazer Health,Enterprises, LLC, one of the ... that Gil R. Glover has been promoted to,president ... Based in Dallas, Texas, TrailBlazer Health Enterprises is ... other government,programs. In 2007, TrailBlazer processed nearly 120 ...
... Nov. 6 "Support our troops" is no longer ... launch of http://www.ReMIND.org and a,new marketing campaign ... pro bono support of JWT Atlanta., By focusing ... is spreading awareness and raising money to provide,resources ...
... New menu alternative is approved by dietitians at ... In recognition of National,Diabetes Month, Salad Creations, ... teamed up to create a diabetes-friendly,create-your-own-salad meal that ... While Salad Creations is already a fresh alternative ...
... of Texas learned her three-year-old son, Julian, had a brain tumor the ... son Coleman, just 2 , was diagnosed with the same rare form ... her six-year-old son, Bailey, had stage III Rhabdomyosarcoma, a very aggressive soft ... ...
... -- Tianyin,Pharmaceutical, Co., Inc., (Amex: TPI ), ... ("TCM") based in Chengdu, China,today announced that management ... fiscal first quarter at 8:30 a.m. EST on ... that day before the market opens., Interested ...
... At RSNA 2008 (Nov.,30-Dec. 4 in ... is introducing a,powerful integration between SpeechQ for ... and RadWorkFlow(R), a,robust workflow solution from Inland ... simplified, and consolidated view into,multi-site, multi-system reading ...
Cached Medicine News:Health News:TrailBlazer Health Enterprises Names New President, Chief Operating Officer 2Health News:Bob Woodruff Foundation and JWT Introduce Marketing Campaign and Unveil www.ReMIND.org 2Health News:Bob Woodruff Foundation and JWT Introduce Marketing Campaign and Unveil www.ReMIND.org 3Health News:Diabetes-Friendly Meal Debuts at Salad Creations with Sugar Free VitaZest Water During National Diabetes Month 2Health News:Diabetes-Friendly Meal Debuts at Salad Creations with Sugar Free VitaZest Water During National Diabetes Month 3Health News: Three Women in Health Crises Go Online to Form Lifelong Friendships : Mothers of Boys with Cancer Find Support, Encouragement and Each Other at CarePages.com 2Health News: Three Women in Health Crises Go Online to Form Lifelong Friendships : Mothers of Boys with Cancer Find Support, Encouragement and Each Other at CarePages.com 3Health News:Tianyin Pharmaceutical Co., Inc. to Host Fiscal Year 2009 First Quarter Earnings Conference Call on Tuesday, November 11, 2008 at 8:30 a.m. EST 2Health News:MedQuist Introduces SpeechQ for Radiology Integrated with RadWorkFlow 2Health News:MedQuist Introduces SpeechQ for Radiology Integrated with RadWorkFlow 3
... stools come with five legs for extra ... 25" (total vertical travel 6"). 2" ball ... and fire retardant upholstery, available in black ... special order. Features a contoured, padded, upholstered ...
Lacrimal Cannulas, 19 g. shaft tapering to 23 g. cannula, straight. Overall length 37.5 mm. 5/box....
Anterior Chamber Needle, 21 g., 8 mm from bend to tip. Overall length 25 mm. 5/box....
Nucleus Hydrodissection Cannula, 25 g. Angled with flattened tip. 7 mm angled shaft with flattened tip for insertion under the capsular flap. Overall length 19 mm. 5/box....
Medicine Products: