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Simcere Pharmaceutical Group Reports Preliminary Unaudited Third Quarter 2011 Results
Date:11/14/2011

lion) for the third quarter of 2011, which represented a decrease of 37.8% from RMB54.7 million for the same period in 2010. Net margin, representing net income attributable to Simcere divided by total revenue, was 6.8% for the third quarter of 2011, compared to 9.9% for the same period in 2010. For the first nine months of 2011, net income attributable to Simcere was RMB135.6 million (US$21.3 million), which represented an increase of 19.2% from RMB113.7 million for the same period in 2010. Net margin for the first nine months of 2011 was 8.9%, compared to 7.3% for the same period in 2010.

Basic and diluted earnings per American Depository Share ("ADS")for the third quarter of 2011 were RMB0.64 (US$0.10) and RMB0.61 (US$0.10), respectively. Basic and diluted earnings per ADS for the first nine months of 2011 were RMB2.54 (US$0.40) and RMB2.45 (US$0.38) respectively. One ADS represents two ordinary shares of the Company.

As of September 30, 2011, the Company had cash, cash equivalents and restricted cash of RMB208.2 million (US$32.6 million), compared to RMB278.7 million as of December 31, 2010.

Share Repurchase ProgramIn November 2011, the Company's board of directors approved a share repurchase program, under which the Company may purchase up to US$30 million of its issued and outstanding ADSs. The repurchases will be made from time to time on the open market at prevailing market prices or in block trades and subject to restrictions relating to volume, price and timing. The Company may effect repurchase transactions pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The timing and extent of any repurchases will depend upon market conditions, the trading price of its ADSs and other factors. The Company expects to implement this share repurchase program in the next 12 months, in a manner consistent with market condit
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SOURCE Simcere Pharmaceutical Group
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