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 $105,000
10. Global Pharm Holdings Group, Inc. Announces Third Quarter 2011 Financial Results
11. Global Pharm Holdings Group, Inc. Completes Acquisition of Qingdao Likang Pharmaceutical Co., Ltd.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/16/2014)... NEW YORK , Sept. 16, 2014 This ... US$ by the following Product Segments: Devices, and Medication. The ... Canada , Japan , ... Latin America , and Rest of World. Annual estimates ... Also, a seven-year historic analysis is provided for these markets. ...
(Date:9/16/2014)... , Sept. 16, 2014 Research and ... Animal Vaccines Market 2014-2018" report to their offering. ... the immunity of animals. Animal vaccines are generally prepared from ... when in their healthy state. Some of the animal vaccines ... such as protein subunits or toxic components. ...
(Date:9/16/2014)... SEATTLE , Sept. 16, 2014 Adaptive ... Generation Sequencing (NGS) to profile the adaptive immune system, ... Hansen as Chief Commercial Officer (CCO). The addition ... follows recent key hires from leading global healthcare companies, ... Determann (General Counsel) from Genomic Health and ...
Breaking Medicine Technology:Global Foot Care Products Industry 2Global Foot Care Products Industry 3Global Foot Care Products Industry 4Global Foot Care Products Industry 5Global Foot Care Products Industry 6Global Foot Care Products Industry 7Global Foot Care Products Industry 8Global Foot Care Products Industry 9Global Foot Care Products Industry 10Global Foot Care Products Industry 11Global Foot Care Products Industry 12Global Foot Care Products Industry 13Global Foot Care Products Industry 14Global Foot Care Products Industry 15Global Foot Care Products Industry 16Global Foot Care Products Industry 17Global Foot Care Products Industry 18Global Foot Care Products Industry 19Global Foot Care Products Industry 20Global Foot Care Products Industry 21Global Foot Care Products Industry 22Global Animal Vaccines Market 2014-2018: Key Vendors are Bayer, Elanco, Merck, Novartis, Sanofi and Zoetis 2Global Animal Vaccines Market 2014-2018: Key Vendors are Bayer, Elanco, Merck, Novartis, Sanofi and Zoetis 3Veteran Genoptix and Gen-Probe Executive, Brian Hansen, joins Adaptive Biotechnologies as Chief Commercial Officer 2Veteran Genoptix and Gen-Probe Executive, Brian Hansen, joins Adaptive Biotechnologies as Chief Commercial Officer 3
... MINNEAPOLIS and HUDIKSVALL, Sweden, Oct. 6 Nonin ... manufacturing center, formerly MedAir AB, has changed its ... operations to better serve Nonin Medical,s European customers ... and service Nonin,s European capnography products, Nonin Medical ...
... Scripts (Nasdaq: ESRX ) has completed the ... a new independent, nonprofit charitable organization with the mission ... Americans and working families. Michael Holmes, ... new national organization, which has its headquarters in St. ...
Cached Medicine Technology:Nonin Medical, Inc. Announces Capnography Division Name Change; Expands Swedish Manufacturing Facility to Become Full-Franchise European Sales, Distribution and Service Center 2Express Scripts Completes Spinoff of Rx Outreach 2
(Date:9/16/2014)... is the principal investigator on a $12.1 million ... prestigious National Cancer Institute collaborative grant that brings ... Pennsylvania to develop new melanoma therapies. The goal ... discoveries into new therapeutics that will benefit patients ... is the deadliest form of skin cancer and ...
(Date:9/16/2014)... Boston University School of Medicine researcher Dr. Jeffrey ... University were recently awarded a five year, $5 ... Abuse for their project titled: Improving Physician Opioid ... Prescription opioids are the second most commonly abused ... deaths related to prescription opioids now exceed deaths ...
(Date:9/16/2014)... HORAN, a leading advisor in employee ... Carl as Vice President – Retirement Services. , Paul ... retirement planning. In addition, he monitors investments, fees and ... Paul has been a retirement services industry professional for ... as a Senior Investigator at the Department of Labor ...
(Date:9/16/2014)... Newark, NJ (PRWEB) September 16, 2014 ... Shield of New Jersey (Horizon BCBSNJ) as one of ... commitment to family-friendly workplace programs, including child care, flexible ... the fifth consecutive year that Horizon BCBSNJ has been ... , “Horizon believes that cultivating an environment in ...
(Date:9/16/2014)... September 16, 2014 The West ... Hospital has achieved the highest award offered by ... patient treatment. , The ACTION Registry-GWTG Platinum Performance Achievement ... a performance measure score of 90 percent or better ... patients for eight consecutive quarters, ending in the last ...
Breaking Medicine News(10 mins):Health News:Wistar and Penn Medicine collaborate on $12.1 million SPORE grant in melanoma 2Health News:Wistar and Penn Medicine collaborate on $12.1 million SPORE grant in melanoma 3Health News:Paul Carl Joins HORAN's Retirement Plan Consulting Organization 2Health News:Horizon Blue Cross Blue Shield of New Jersey Named as 2014 Working Mother 100 Best Company 2Health News:Horizon Blue Cross Blue Shield of New Jersey Named as 2014 Working Mother 100 Best Company 3Health News:West Tennessee Heart and Vascular Center Earns Highest Award from American College of Cardiology 2Health News:West Tennessee Heart and Vascular Center Earns Highest Award from American College of Cardiology 3Health News:West Tennessee Heart and Vascular Center Earns Highest Award from American College of Cardiology 4
... LA The Department of Psychiatry at LSU Health ... Gold Achievement Award by the American Psychiatric Association for ... School System as key to reopening schools and recovery ... top Psychiatric Services honor bestowed by the world,s largest ...
... CHICAGO (November 1, 2010) According to a report ... of the American College of Surgeons , a grant-funded ... to young, underrepresented minority surgeons, is helping address shortages ... The report states that the Diverse Surgeons Initiative ...
... Arbor, Mich. Helicobacter pylori , a common stomach bacterium, ... Salmonella in mice, according to research from U-M Medical School ... infected with H. pylori , although it is very unusual ... there may be an inflammation control benefit to hosting the ...
... Cancer Surveillance Consortium (BCSC) facilities performing breast magnetic resonance ... College of Radiology Imaging Network (ACRIN) and European Society ... to a study in the November issue of the ... ). The BCSC is a collaborative effort to improve ...
... , SATURDAY, Oct. 30 (HealthDay News) -- ... is an early, but important, advance in the quest ... "We are excited about the possibilities this research represents, ... and many technical hurdles must be overcome before it ...
... SATURDAY, Oct. 30 (HealthDay News) -- Hepatitis C patients who ... aggressive recurrent hepatitis than those who receive a liver from ... true for black patients who receive a liver from a ... Ford Hospital in Detroit looked at 165 hepatitis C patients ...
Cached Medicine News:Health News:APA gives LSUHSC psychiatry gold award for program in St. Bernard schools after Katrina 2Health News:APA gives LSUHSC psychiatry gold award for program in St. Bernard schools after Katrina 3Health News:Diverse surgeons initiative effectively increases underrepresented minorities in academic surgery 2Health News:Common stomach bacteria may fight off inflammatory bowel disease caused by Salmonella 2Health News:Common stomach bacteria may fight off inflammatory bowel disease caused by Salmonella 3Health News:Majority of community facilities performing breast MRI exams meet ACRIN and EUSOBI technical requirements 2Health News:Scientists Report Early Success in Growing Mini Liver in Lab 2
A CDI original design with seams on the outside, away from the skin, adjustable fit and removable/adjustable back strap, provides patient comfort and needed compression....
CDIs Chin Support Bandage is ideal for Submental Liposuction, Chin Implants and all other facial procedures requiring support. Adjustable Velcro® top and posterior band secures placement....
Four way compression with five contact closures...
Applies pressure on scalp to stretch it before surgery...
Medicine Products: