{"id":2641,"date":"2021-11-12T21:30:00","date_gmt":"2021-11-12T21:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3573984_CN73984_0"},"modified":"2021-11-12T21:30:00","modified_gmt":"2021-11-12T21:30:00","slug":"china-pharma-holdings-inc-reports-third-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=2641","title":{"rendered":"China Pharma Holdings, Inc. Reports Third Quarter 2021 Financial Results"},"content":{"rendered":"
\n

HAIKOU, China<\/span>, Nov. 13, 2021 \/PRNewswire\/ — China Pharma Holdings, Inc. (NYSE American: CPHI)  (“China Pharma,” the “Company” or “We”), an NYSE American-listed corporation with a fully-integrated specialty pharmaceuticals subsidiary based in China<\/span>, today announced the financial results for the quarter ended September 30, 2021<\/span>.<\/p>\n

Revenue decreased by 17.6% to $2.0 million<\/span> for the three months ended September 30, 2021<\/span>, as compared to $2.4 million<\/span> for the three months ended September 30, 2020<\/span>. This decrease was mainly due to the expansion of the scope of national centralized drug purchases and the related price reduction. Net loss for the three months ended September 30, 2021<\/span> was $0.8 million<\/span>, as compared to net loss of $1.0 million<\/span> for the same period a year ago. The reduction in net loss was mainly the result of the decrease in selling expenses in the three months ended September 30, 2021<\/span>. Loss per basic and diluted common share was both $0.02<\/span> for the three months ended September 30, 2021<\/span> and 2020, respectively. <\/p>\n

Revenue was $6.8 million<\/span> and $7.9 million<\/span> for the nine months ended September 30, 2021<\/span> and 2020, respectively.  Net loss for the nine months ended September 30, 2021<\/span> was $2.4 million<\/span>, as compared to net loss of $1.7 million<\/span> for the nine months ended September 30, 2020<\/span>. The increase in net loss is mainly due to the continuous decline in the sales price of our certain main products for the nine months ended September 30, 2021<\/span>, and the continuous rise in the price of some main raw materials in our portfolio; on the other hand, there was a one-time foreign trade of COVID-19 testers with higher gross margin we completed in the corresponding period in 2020. <\/p>\n

Ms. Zhilin Li<\/span>, China Pharma’s Chairman and CEO, commented, “In this quarter, the company continued to focus on the consistency evaluation of existing listed products. Our hypertensive drug Candesartan has passed the key experiment of the consistency evaluation. At present, we have submitted the application materials to the National Medical Products Administration. In addition, we observed an increasing amount of COVID-19 confirmed cases in several cities in China<\/span> recently. Therefore, we have correspondingly strengthened the production and sales of our epidemic prevention materials, such as medical surgical masks.”<\/p>\n

Ms. Li continued, “Overall, we are very optimistic about the company’s future given the strong foundation of our business and market, including the favorable policies in Hainan Free Trade Port that encourage the development, manufacture and commercialization of pharmaceutical and comprehensive healthcare products for the benefit of human health, as well as spcial policies for Boao Lecheng pilot zone of international medical tourism.  In the context of the epidemic, we have experienced great challenges. However, we also see considerable opportunities ahead of us thanks to those favorable policies, and are working to accelerate our growth in specialty pharma and Traditional Chinese Medicine (TCM).”<\/p>\n

About China Pharma Holdings, Inc. <\/b><\/p>\n

China Pharma Holdings, Inc. (NYSE American: CPHI) is a specialty pharmaceutical company that develops, manufactures and markets a diversified portfolio of products, focusing on conditions with high incidence and high mortality rates in China<\/span>, including cardiovascular, CNS, infectious, and digestive diseases. The Company’s cost-effective business model is driven by market demand and supported by new GMP-certified product lines covering the major dosage forms. In addition, the Company has a broad and expanding nationwide distribution network across all major cities and provinces in China<\/span>. The Company’s wholly-owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd., is located in Haikou<\/span> City, Hainan Province<\/span>. For more information about China Pharma Holdings, Inc., please visit www.chinapharmaholdings.com<\/a>. The Company routinely posts important information on its website.<\/p>\n

Safe Harbor Statement  <\/b><\/p>\n

Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: the achievability of financial guidance; success of new product development; unanticipated changes in product demand; increased competition; downturns in the Chinese economy; uncompetitive levels of research and development; and other information detailed from time to time in the Company’s filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations, except as required by applicable law or regulation.<\/p>\n

– FINANCIAL TABLES FOLLOW \u2013 <\/b><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CHINA PHARMA HOLDINGS, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

September 30,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

December 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2020<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

ASSETS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Current Assets:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash and cash equivalents<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         458,831<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         957,653<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Banker’s acceptances<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

53,736<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Trade accounts receivable, less allowance for doubtful<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

accounts of $18,253,945 and $18,150,493, respectively<\/span><\/p>\n<\/td>\n

<\/td>\n\n

444,271<\/span><\/p>\n<\/td>\n

<\/td>\n\n

501,892<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other receivables, less allowance for doubtful<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

accounts of $29,968 and $22,320, respectively<\/span><\/p>\n<\/td>\n

<\/td>\n\n

50,013<\/span><\/p>\n<\/td>\n

<\/td>\n\n

27,652<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Advances to suppliers<\/span><\/p>\n<\/td>\n

<\/td>\n\n

41,518<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,238<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Inventory<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,073,834<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,705,119<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Prepaid expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

72,805<\/span><\/p>\n<\/td>\n

<\/td>\n\n

73,668<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total Current Assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

4,141,272<\/span><\/p>\n<\/td>\n

<\/td>\n\n

5,321,958<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Property, plant and equipment, net<\/span><\/p>\n<\/td>\n

<\/td>\n\n

13,740,444<\/span><\/p>\n<\/td>\n

<\/td>\n\n

15,564,200<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating lease right of use asset<\/span><\/p>\n<\/td>\n

<\/td>\n\n

146,759<\/span><\/p>\n<\/td>\n

<\/td>\n\n

49,687<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Intangible assets, net<\/span><\/p>\n<\/td>\n

<\/td>\n\n

154,820<\/span><\/p>\n<\/td>\n

<\/td>\n\n

182,146<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

TOTAL ASSETS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$    18,183,295<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$    21,117,991<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Current Liabilities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Trade accounts payable<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         599,703<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$      1,234,594<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accrued expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

227,416<\/span><\/p>\n<\/td>\n

<\/td>\n\n

177,359<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other payables<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,733,128<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,748,208<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Advances from customers<\/span><\/p>\n<\/td>\n

<\/td>\n\n

420,039<\/span><\/p>\n<\/td>\n

<\/td>\n\n

719,786<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Borrowings from related parties<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,057,272<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,134,428<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating lease liability<\/span><\/p>\n<\/td>\n

<\/td>\n\n

82,851<\/span><\/p>\n<\/td>\n

<\/td>\n\n

52,070<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Construction loan facility<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,298,886<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Current portion of lines of credit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

4,332,809<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,038,345<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total Current Liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

10,453,218<\/span><\/p>\n<\/td>\n

<\/td>\n\n

11,403,676<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Non-current Liabilities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Lines of credit, net of current portion<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

904,228<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Operating lease liability, net of current portion<\/span><\/p>\n<\/td>\n

<\/td>\n\n

64,767<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
\n

Deferred tax liability<\/span><\/p>\n<\/td>\n

<\/td>\n\n

810,462<\/span><\/p>\n<\/td>\n

<\/td>\n\n

805,556<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total Liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

11,328,447<\/span><\/p>\n<\/td>\n

<\/td>\n\n

13,113,460<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Commitments and Contingencies (Note 9)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Stockholders’ Equity:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Preferred stock, $0.001 par value; 5,000,000 shares authorized;<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

no shares issued or outstanding<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Common stock, $0.001 par value; 95,000,000 shares authorized;<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

47,339,557 shares and 45,579,557 shares issued and outstanding, respectively<\/span><\/p>\n<\/td>\n

\n

47,340<\/span><\/p>\n<\/td>\n

<\/td>\n\n

45,580<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Additional paid-in capital<\/span><\/p>\n<\/td>\n

<\/td>\n\n

25,645,367<\/span><\/p>\n<\/td>\n

<\/td>\n\n

24,452,684<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Retained deficit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(31,257,936)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(28,839,179)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accumulated other comprehensive income<\/span><\/p>\n<\/td>\n

<\/td>\n\n

12,420,077<\/span><\/p>\n<\/td>\n

<\/td>\n\n

12,345,446<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total Stockholders’ Equity<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

6,854,848<\/span><\/p>\n<\/td>\n

<\/td>\n\n

8,004,531<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$    18,183,295<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$    21,117,991<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CHINA PHARMA HOLDINGS, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

AND COMPREHENSIVE LOSS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

For the Three Months<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

For the Nine Months<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

Ended September 30,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

Ended September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2020<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2020<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         1,978,627<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         2,400,667<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         6,752,557<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$         7,935,345<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cost of revenue<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,275,023<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,353,471<\/span><\/p>\n<\/td>\n

<\/td>\n\n

6,705,223<\/span><\/p>\n<\/td>\n

<\/td>\n\n

6,543,912<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Gross profit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(296,396)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

47,196<\/span><\/p>\n<\/td>\n

<\/td>\n\n

47,334<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,391,433<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Operating expenses:<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Selling expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

134,292<\/span><\/p>\n<\/td>\n

<\/td>\n\n

654,090<\/span><\/p>\n<\/td>\n

<\/td>\n\n

958,105<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,707,827<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

General and administrative expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

301,970<\/span><\/p>\n<\/td>\n

<\/td>\n\n

290,586<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,040,726<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,001,590<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Research and development expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

21,374<\/span><\/p>\n<\/td>\n

<\/td>\n\n

37,628<\/span><\/p>\n<\/td>\n

<\/td>\n\n

264,916<\/span><\/p>\n<\/td>\n

<\/td>\n\n

116,491<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Bad debt (benefit) expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

8,372<\/span><\/p>\n<\/td>\n

<\/td>\n\n

17,386<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(4,593)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

42,314<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total operating expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

466,008<\/span><\/p>\n<\/td>\n

<\/td>\n\n

999,690<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,259,154<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,868,222<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Loss from operations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(762,404)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(952,494)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,211,820)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,476,789)<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Other income (expense):<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Interest income<\/span><\/p>\n<\/td>\n

<\/td>\n\n

638<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,665<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,623<\/span><\/p>\n<\/td>\n

<\/td>\n\n

5,263<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Interest expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(64,903)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(61,067)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(208,560)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(186,214)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net other expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(64,265)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(57,402)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(206,937)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(180,951)<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Loss before income taxes<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(826,669)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,009,896)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,418,757)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,657,740)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Income tax  expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net loss<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

(826,669)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,009,896)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,418,757)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,657,740)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other comprehensive income (loss) – foreign currency<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

translation adjustment<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(37,499)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

470,445<\/span><\/p>\n<\/td>\n

<\/td>\n\n

74,631<\/span><\/p>\n<\/td>\n

<\/td>\n\n

279,209<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Comprehensive loss<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$           (864,168)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$           (539,451)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$        (2,344,126)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$        (1,378,531)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss per share:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Basic and diluted<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$                 (0.02)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$                 (0.02)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$                 (0.05)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$                 (0.04)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Weighted average shares outstanding<\/span><\/p>\n<\/td>\n

<\/td>\n\n

46,000,427<\/span><\/p>\n<\/td>\n

<\/td>\n\n

43,579,557<\/span><\/p>\n<\/td>\n

<\/td>\n\n

45,721,389<\/span><\/p>\n<\/td>\n

<\/td>\n\n

43,579,557<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CHINA PHARMA HOLDINGS, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

For the Nine Months<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

Ended September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2020<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cash Flows from Operating Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net loss<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$     (2,418,757)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$     (1,657,740)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Depreciation and amortization<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,377,104<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,978,363<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Bad debt (benefit) expense<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(4,593)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

42,314<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Stock option compensation<\/span><\/p>\n<\/td>\n

<\/td>\n\n

15,243<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Inventory write off<\/span><\/p>\n<\/td>\n

<\/td>\n\n

148,386<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Changes in assets and liabilities:<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Trade accounts and other receivables<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(151,872)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(366,385)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Advances to suppliers<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(39,352)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(103,701)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Inventory<\/span><\/p>\n<\/td>\n

<\/td>\n\n

756,090<\/span><\/p>\n<\/td>\n

<\/td>\n\n

561,139<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Trade accounts payable<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(643,797)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(399,363)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Other payables and accrued expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

208,210<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(126,930)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Change in bankers’ acceptance notes payable<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(109,663)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Advances from customers<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(304,787)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

119,199<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Prepaid expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

6,399<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(314,361)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net Cash Used in Operating Activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

(51,726)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(377,128)<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash Flows from Investing Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Purchases of property and equipment<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(430,999)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,099,878)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net Cash Used in Investing Activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

(430,999)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1,099,878)<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash Flows from Financing Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Payments of construction term loan<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,317,879)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,145,389)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Payments of line of credit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(2,441,499)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Borrowings and interest from related party<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,172,244<\/span><\/p>\n<\/td>\n

<\/td>\n\n

162,090<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Repayments to related party<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(251,876)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(77,530)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Proceeds from lines of credit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

3,816,774<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2,695,087<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net Cash (Used In) Provided By Financing Activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

(22,236)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

634,258<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Effect of Exchange Rate Changes on Cash<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

6,139<\/span><\/p>\n<\/td>\n

<\/td>\n\n

4,472<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net Increase in Cash, Cash Equivalents and Restricted Cash<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

(498,822)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(838,276)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cash and Cash Equivalents at Beginning of Period<\/span><\/p>\n<\/td>\n

<\/td>\n\n

957,653<\/span><\/p>\n<\/td>\n

<\/td>\n\n

1,184,887<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cash, Cash Equivalents and Restricted Cash at End of Period<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$          458,831<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$          346,611<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Supplemental Cash Flow Information:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash paid for income taxes<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$                    –<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$                    –<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cash paid for interest<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$          173,157<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$          176,055<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Supplemental Noncash Investing and Financing Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Accounts receivable collected with banker’s acceptances<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$          195,032<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$          394,393<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Inventory purchased with banker’s acceptances<\/span><\/p>\n<\/td>\n

<\/td>\n\n

249,212<\/span><\/p>\n<\/td>\n

<\/td>\n\n

402,582<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Right-of-use assets obtained in exchange for operating lease obligations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

168,087<\/span><\/p>\n<\/td>\n

<\/td>\n\n

–<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Contact: Diana

\"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/china-pharma-holdings-inc-reports-third-quarter-2021-financial-results-301422840.html<\/a><\/p>\n<\/p><\/div>\n

Source: China Pharma Holdings, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"

HAIKOU, China, Nov. 13, 2021 \/PRNewswire\/ — China Pharma Holdings, Inc. (NYSE American: CPHI)  (“China Pharma,” the “Company” or “We”), an NYSE American-listed corporation with a fully-integrated specialty pharmaceuticals subsidiary based in China, today announced the financial results for the quarter ended September 30, 2021. Revenue decreased by 17.6% to $2.0 million for the three months […]<\/p>\n","protected":false},"author":8,"featured_media":2642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-2641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\nChina Pharma Holdings, Inc. 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