The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
§1 Important notice
1.1 The Board of Directors (BOD), Board of Supervisors (BOS), directors, supervisors, and senior executives hereby guarantee that the data in the present report contain no false representation, misleading statements and serious omissions, and shall be severally and jointly liable for the authenticity, accuracy and completeness of the content.
1.2 The first quarterly report has not been audited by any accountants firms.
1.3 Mr. Zhu Baoguo, principal of the Company, Mr. An Ning, the principal in charge of accounting, and Ms. Si Yanxia, the principal of the Accounting Department hereby declare: We guarantee the authenticity and completeness of the Financial Report in this quarterly report.
1.4 This First Quarterly is published in Chinese and English versions. In the event of inconsistency, the Chinese version shall prevail
§2 Brief introduction of the Company
2.1 Financial highlights
Unit :( RMB) Yuan
End of this report period
End of previous Year
Increase or decrease (%)
Total assets (RMB Yuan)
3,186,768,447.85
3,124,376,784.70
2.00%
Owners’ equity attributable to the shareholders of listed company (RMB Yuan)
2,274,883,073.89
2,149,084,836.03
5.85%
Share capital (share)
295,721,852.00
295,721,852.00
0.00%
Net assets per share attributable to the shareholders of listed company (RMB Yuan/share)
7.69
7.27
5.78%
End of this report period
Same period in previous year
Increase or decrease (%)
Total operating income (RMB Yuan)
649,272,090.29
540,653,189.01
20.09%
Net profit attributable to the shareholders of listed company (RMB Yuan)
126,624,416.91
116,720,034.31
8.49%
Net cash flows from operating activities (RMB Yuan)
168,502,351.48
168,932,772.38
-0.25%
Net cash flows per share from operating activities (RMB Yuan/share)
0.57
0.56
1.79%
Basic profit per share (RMB Yuan/share)
0.43
0.39
10.26%
Diluted profit per share (RMB Yuan/share)
0.43
0.39
10.26%
Weighed average yield rate of net assets (%)
5.57%
6.29%
-0.72%
Weighed average yield rate of net assets after deduction of non-recurring profit and loss (%)
5.32%
4.57%
0.75%
Items of non-recurring profit and loss
Amount from the year beginning to end of report period
Profit and loss in disposal of non-circulation assets
1,924,887.44
Governmental allowance accrued to the current profit and loss, except those that are closely related to the normal operation businesses of company, comply with the national policies, and are continuously
822,298.15
1The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
granted based on the certain standard quota or certain quantity
Except the effective hedge business related to the normal operation business of the company, the profit and loss in the changes of fair values caused by the holding of tradable financial assets and tradable financial liabilities as well as the investment returns in disposal of tradable financial assets, tradable financial liabilities and saleable financial assets
3,398,436.32
Other net non-operating income and payment except the above items
-19,491.41
Effect of income tax
-437,899.60
Effect of the minority of shareholders’ equities
-61,975.57
Total
5,626,255.33
Explanations about the items of major non-recurring profit and loss
None.
2.2 Table about total quantity of all shareholders and shareholding particulars of top ten shareholders without trading restriction at the end of report period
Unit: share
Total quantity of shareholders at the end of report period
21,815 (including 9,879 B-share holders)
Shares held by top ten tradable shareholders without trading restriction
Shareholder name (full name)
Quantity of tradable shares without trading restriction at the end of report period
Type
Joincare Pharmaceutical Group Industry Co., Ltd
77,510,167
RMB Common share
Tiancheng Industry Co., Ltd
44,537,733
Domestically-listed shares for overseas investors
First Shanghai Securities Co., Ltd
11,117,101
Domestically-listed shares for overseas investors
Bank of Communications - Penghua China 50 Open-end Securities Investment Fund
6,449,893
RMB Common share
Agricultural Bank of China- Greatwall Anxin Return Mixed Securities Investment Fund
6,190,720
RMB Common share
Shenzhen Haibin Pharmaceutical Co., Ltd
5,892,943
RMB Common share
Shenzhen Shengjibaili Advertisement Co., Ltd
5,000,000
RMB Common share
Bank of Communications- Great Wall Jiufu Core Growth Stock-type Securities Investment Fund (LOF)
4,700,000
RMB Common share
Industrial and Commercial Bank of China - Efunds Leading Enterprise Stock Securities Investment Fund
3,815,086
RMB Common share
National Social Securities Fund 104 Portfolio
3,798,647
RMB Common share
§3 Major events
3.1 Great changes and reasons of main financial statement items and financial indexes of the Company
√ Applicable □ Inapplicable
3.1.1 Major changes of items in balance sheet
Item
Amount at the end of period (RMB Yuan)
Amount at the beginning of period (RMB Yuan)
Increase or decrease
Cause
Notes
221,927,044.26
404,747,523.90
-45.17%
Discounting and payment of notes within the report
2The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
receivable
period.
Other accounts receivable
29,741,233.94
20,939,387.04
42.03%
Increase of advance payments within the report period.
Engineering under construction
135,493,279.84
103,839,745.36
30.48%
Relocation project of new factory of Livzon Pharmaceutical Factory and the construction of Solasulfone expansion project of Fuxing Pharmaceutical Co., Ltd
Taxes payable
35,556,761.98
77,569,713.49
-54.16%
1. Guangda Pharmaceutical Co., Ltd paid the deferred taxes and the income taxes for the third to fourth quarters of 2009;
2. Increase of income taxes of the controlled subcompanies of company - Guangda Pharmaceutical Co., Ltd, Livzon Syntpharm Co., Ltd and Zhuhai Livzon Medicine Trade Co., Ltd, and decrease of payable value-added taxes at the end of report period
3.1.2 Major change of items in Profit Statement
Item
Amount in this period (RMB Yuan)
Amount in previous period (RMB Yuan)
Change rate
Cause
Financial expense
1,272,933.71
7,579,333.59
-83.21%
Decrease of loan interests paid to banks.
Returns from the changes of fair values
3,398,436.32
109,911,654.77
-96.91%
Great decrease of tradable financial assets of Company.
Investment returns
155,236.22
-75,805,840.59
100.20%
No disposal of any tradable financial assets by the company in the report period.
3.1.3 Major change of items in cash flow Statement
Item
Amount in this period (RMB Yuan)
Amount in previous period (RMB Yuan)
Change rate
Cause
Cash paid for purchase of goods or receiving of services
214,073,059.42
148,560,350.32
44.10%
Increase of payments for the purchase of raw materials by the subsidiary production enterprises of Company.
Other cashes paid to operating activities
154,895,040.76
102,347,591.28
51.34%
The increase of sales income causes the increase of sales expenses.
Cash received from disposal of investments
-
119,019,666.02
-
The company received the securities investment capitals in the same period of previous year.
Cash paid to acquire and construct fixed assets, intangible assets and other long-term assets
59,630,111.51
19,600,881.94
204.22%
Increase of investments in the relocation project of new factory of Livzon Pharmaceutical Factory and the construction of Solasulfone expansion project of Fuxing Pharmaceutical Co., Ltd
Cash from loans
109,851,250.00
49,730,000.00
120.90%
Increase of bank loans within the report period.
Repayments of loans
109,836,600.00
260,000,000.00
-57.76%
Decrease of repayments to bank loans within the report period.
3.2 Analysis and particulars of major events, their effects and resolutions
□ Applicable √ Inapplicable
3.3 Performance of commitments by the Company, shareholders and actual controllers
□ Applicable √ Inapplicable 3The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
3.4 Warning and relevant reasons for the forecast that the accumulative net profit from the beginning of 2010 to the end of next report period may suffer from any loss or have any great changes over the same period of previous year
□ Applicable √ Inapplicable
3.5 Particulars about Other Major events
3.5.1 Particulars about Securities investment
√ Applicable □ Inapplicable
Unit :( RMB) Yuan
No.
Securities Type
Securities Code
Securities abbreviation
Initial investment amount (RMB Yuan)
Holding quantity (share)
Book Values at the end of period (RMB Yuan)
Percentage of total investment in the securities at the end of period (%)
Profit and loss during the report period (RMB Yuan)
1
Stock
00135
Kunlun Energy
7,065,674.13
1,500,000.00
14,341,334.61
27.47%
765,634.80
2
Stock
00152
Shenzhen International
10,141,379.88
17,000,000.00
8,968,044.02
17.18%
149,606.82
3
Stock
00883
China National Offshore Oil Corporation
2,880,988.53
560,000.00
6,371,531.50
12.20%
285,836.99
4
Stock
02007
Phoenix Island
20,961,345.31
2,450,000.00
6,009,908.31
11.51%
-215,609.80
5
Stock
00438
Rainbow group
6,284,987.36
4,560,000.00
5,532,754.72
10.60%
2,207,140.32
6
Stock
01880
Baili Company
2,356,639.15
428,000.00
3,928,636.31
7.52%
519,786.83
7
Stock
00390
China Railway Engineering Group Co.
1,611,814.72
314,000.00
1,546,020.45
2.96%
-121,586.33
8
Stock
01688
Alibaba
935,160.17
78,000.00
1,071,206.48
2.05%
-163,370.63
9
Stock
01186
China Railway Construction Corporation
1,083,293.80
114,000.00
959,211.44
1.84%
-38,123.33
10
Stock
00368
Sinotrans Shipping
1,892,424.93
260,500.00
849,726.57
1.63%
25,217.55
Other securities investment at the end of this period
1,484,181.27
-
2,636,370.94
5.05%
-16,096.90
Profit and loss of sold Securities investment during the report period
-
-
-
-
0.00
Total
56,697,889.25
-
52,214,745.35
100%
3,398,436.32
Explanation about securities investment: The above securities investments are the investments in the H-share market. The amounts of H-share investment have been converted to RMB at the exchange rate at the end of report period.
3.5.2 List of Activities that the Company receives the investigation, communication and interview, etc during the report period
Reception date
Reception place
Reception mode
Objects
Discussion topics and provided materials
January 13, 2010
Office buildings of Livzon Group
Local investigation
Greatwall Securities Co., Ltd
Production and operation status of the Company
January 14, 2010
Office buildings of Livzon Group
Local investigation
ABN AMRO TEDA Fund Management Co., Ltd.
Production and operation status of the Company
March 2, 2010
Office buildings of Livzon Group
Local investigation
Guodu Securities Co., Ltd
Production and operation status of the Company 4The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
March 2, 2010
Office buildings of Livzon Group
Local investigation
Shenzhen Wintech Investment Management Co., Ltd
Production and operation status of the Company
March 11, 2010
Office buildings of Livzon Group
Local investigation
Minsheng Royal Fund Management Co., Ltd
Production and operation status of the Company
March 11, 2010
Office buildings of Livzon Group
Local investigation
China Merchants Fund
Production and operation status of the Company
March 11, 2010
Office buildings of Livzon Group
Local investigation
Pingan Dahua Fund Management Co., Ltd
Production and operation status of the Company
March 11, 2010
Office buildings of Livzon Group
Local investigation
Baoying Fund Management Co., Ltd
Production and operation status of the Company
March 11, 2010
Office buildings of Livzon Group
Local investigation
Citic Securities Co., Ltd
Production and operation status of the Company
March 11, 2010
Office buildings of Livzon Group
Local investigation
Invesco Great Wall Fund Management Company Limited
Production and operation status of the Company
March 18, 2010
Office buildings of Livzon Group
Local investigation
Northeast Securities Co., Ltd
Production and operation status of the Company
March 18, 2010
Office buildings of Livzon Group
Local investigation
China Galaxy Securities Co., Ltd
Production and operation status of the Company
March 18, 2010
Office buildings of Livzon Group
Local investigation
AIG-Huatai Fund Management Co., Ltd
Production and operation status of the Company
March 18, 2010
Office buildings of Livzon Group
Local investigation
Hamon asset management Co., Ltd
Production and operation status of the Company
March 18, 2010
Office buildings of Livzon Group
Local investigation
BNP Paribas Asset Management (Asia) Limited
Production and operation status of the Company
March 18, 2010
Office buildings of Livzon Group
Local investigation
GE Asset Management Incorporated
Production and operation status of the Company
3.5.3 Particulars about other major events
□ Applicable √ Inapplicable
3.6 Particulars about derivative investments
□ Applicable √ Inapplicable
3.6.1 Holding particulars about derivative investments at the end of report period
□ Applicable √ Inapplicable
§4 Appendix
4.1 Balance sheet
Prepared by: Livzon Pharmaceutical Group Inc. March 31, 2010 Unit :( RMB) Yuan
Balance at the end of this period
Balance at the beginning of this period
Item
Consolidation
Parent company
Consolidation
Parent company
Current assets:
Currency capital
697,634,104.90
565,865,732.31
588,531,959.19
449,132,586.01
Tradable financial assets
52,214,745.33
48,888,580.51
Notes receivable
221,927,044.26
35,953,551.38
404,747,523.90
61,779,674.18
Accounts receivable
418,574,026.70
162,956,274.14
372,643,326.56
168,883,426.67
Advance money
49,496,582.92
3,907,945.66
66,488,125.52
6,569,662.89
5The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
Interests receivable
Dividend receivable
Other receivables
29,741,233.94
425,078,679.01
20,939,387.04
441,262,083.31
Purchase of resold financial assets
Inventory
421,351,600.67
54,967,777.04
339,323,059.73
60,082,198.13
Non-current assets due within one year
Other current assets
Total of current assets
1,890,939,338.72
1,248,729,959.54
1,841,561,962.45
1,187,709,631.19
Non-current assets:
Release of loans and advance money
Saleable financial assets
12,016,546.42
12,016,546.42
12,906,087.63
12,906,087.63
Investment held to the maturity date
Long-term accounts receivable
Long-term equity investment
47,638,303.92
1,068,845,914.82
48,416,987.20
1,069,461,516.10
Real estate for Investment
Fixed assets
801,147,750.95
92,550,543.38
820,918,264.05
96,595,498.73
Engineering under construction
135,493,279.84
103,839,745.36
Engineering goods
7,052,552.30
3,360,288.46
Liquidation of fixed assets
Production biology assets
Oil and gas assets
Intangible assets
148,136,787.52
36,982,109.17
146,258,546.38
33,783,407.53
Development expenses
7,865,360.13
6,143,375.83
7,369,974.29
5,647,989.99
Goodwill
103,040,497.85
103,040,497.85
Long-term deferred and prepaid expenses
5,989,824.40
5,461,213.29
Assets with deferred income taxes
27,448,205.80
14,659,890.03
31,243,217.74
17,880,772.42
Other non-current assets
Subtotal of non-current assets
1,295,829,109.13
1,231,198,379.65
1,282,814,822.25
1,236,275,272.40
Total of assets
3,186,768,447.85
2,479,928,339.19
3,124,376,784.70
2,423,984,903.59
Current liabilities:
Short-term loans
221,173,271.27
96,545,400.00
218,612,242.03
96,633,600.00
Tradable financial liability
Notes payable
Accounts payable
171,943,235.47
120,859,658.04
182,395,197.95
133,489,640.22
Deposit receivable
12,104,882.71
2,987,392.05
16,482,054.51
3,460,327.41
Payroll payable
32,531,413.80
16,818,173.91
46,213,344.69
19,934,903.75
Tax payable
35,556,761.98
10,222,121.85
77,569,713.49
13,162,107.64
Interests payable
Dividend payable
2,531,984.01
20,174.01
2,531,984.01
20,174.01
Other accounts payable
228,995,261.81
748,747,104.47
233,002,793.34
691,985,512.47
Non-current liabilities due within one year
400,000.00
400,000.00
Other current liabilities
Total of current liabilities
705,236,811.05
996,200,024.33
777,207,330.02
958,686,265.50
6The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
Non-current liabilities
Long-term loan
90,700,000.00
90,000,000.00
90,700,000.00
90,000,000.00
Securities payable
Long-term accounts payable
Deferred profit
28,998,350.10
10,686,802.35
27,658,099.70
9,094,359.50
Special accounts payable
Anticipation liability
Liabilities with the deferred income taxes
3,219,380.76
1,550,485.65
3,352,811.95
1,683,916.84
Other non-current liabilities
Subtotal of non-current liabilities
122,917,730.86
102,237,288.00
121,710,911.65
100,778,276.34
Total of liabilities
828,154,541.91
1,098,437,312.33
898,918,241.67
1,059,464,541.84
Owners' equity (or shareholders’ equities):
Paid-up capital (or share capital)
295,721,852.00
295,721,852.00
295,721,852.00
295,721,852.00
Capital reserve
350,190,065.62
341,000,868.94
350,946,175.64
341,756,978.96
Minus: treasury share
Special reserve
Surplus reserve
401,456,345.99
250,810,202.23
401,456,345.99
250,810,202.23
General risk reserve
126,624,416.91
17,726,775.13
Undistributed profit
Conversion margin in foreign currency statement
1,114,710,405.94
476,231,328.56
1,114,710,405.94
476,231,328.56
Subtotal of equities attributable to the owners of parent company
-13,820,012.57
-13,749,943.54
Equities of the minority of shareholders
2,274,883,073.89
1,381,491,026.86
2,149,084,836.03
1,364,520,361.75
Surplus reserve
83,730,832.05
76,373,707.00
Subtotal of owners’ equities
2,358,613,905.94
1,381,491,026.86
2,225,458,543.03
1,364,520,361.75
Total of liabilities and owners’ equities
3,186,768,447.85
2,479,928,339.19
3,124,376,784.70
2,423,984,903.59
4.2 Profit Statement
Prepared by: Livzon Pharmaceutical Group Inc. January to March 2010 Unit :( RMB) Yuan
Amount in this period
Amount in previous period
Item
Consolidation
Parent Company
Consolidation
Parent Company
I. Total operating income
649,272,090.29
221,257,957.86
540,653,189.01
207,378,731.35
Including: operating income
649,272,090.29
221,257,957.86
540,653,189.01
207,378,731.35
II. Total operating cost
503,618,700.14
201,858,106.54
433,445,367.18
202,580,325.50
Including: operating cost
317,293,593.88
105,818,204.79
259,107,179.83
116,572,536.77
Operating tax and surtax
1,061,215.85
30,000.00
1,252,480.87
16,500.000
Sales expense
133,960,772.16
75,098,687.12
112,449,501.89
59,609,035.44
Management expense
45,727,492.18
18,974,397.58
48,218,681.26
17,793,869.67
Financial expense
1,272,933.71
983,691.68
7,579,333.59
6,961,531.14
Loss from asset depreciation
4,302,692.36
953,125.37
4,838,189.74
1,626,852.48
Plus: returns from the changes of fair values (the loss is listed beginning with “-”).
3,398,436.32
109,911,654.77
97,808,992.640
7The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
Investment returns (the loss is listed beginning with “-”).
155,236.22
-615,601.28
-75,805,840.59
-70,928,159.200
Including: the investment returns from the associated enterprises and joint enterprises
-778,683.28
-615,601.28
-1,628,312.32
-1,893,389.350
Profits form currency exchange (the loss is listed beginning with “-”).
III. Operating profit (the loss is listed beginning with “-”)
149,207,062.69
18,784,250.04
141,313,636.01
31,679,239.29
Plus : non-operating income
3,459,766.27
2,468,281.46
757,488.63
80,001.39
Minus: non-operating payments
732,072.09
304,873.98
107,246.14
3,500.00
Including: loss in the disposal of non-current assets
384,512.14
4,434.98
10,115.13
IV. Total profit (the loss is listed beginning with “-”)
151,934,756.87
20,947,657.52
141,963,878.50
31,755,740.68
Minus: income tax expense
17,935,006.63
3,220,882.39
18,520,444.09
4,858,472.79
V. Net profit (the loss is listed beginning with “-”)
133,999,750.24
17,726,775.13
123,443,434.41
26,897,267.89
Net profit attributable to the owners of parent company
126,624,416.91
17,726,775.13
116,720,034.31
26,897,267.89
Profit and loss of the minority of shareholders
7,375,333.33
6,723,400.10
VI. Profit per share:
(I) Basic profit per share
0.43
0.39
(II) Diluted profit per share
0.43
0.39
VII. Other comprehensive profits
-826,179.06
-756,110.03
1,817,120.63
1,801,840.62
VIII. Total of comprehensive profits
133,173,571.18
16,970,665.10
125,260,555.04
28,699,108.51
Total of comprehensive profits attributable to the owners of parent company
125,798,237.85
16,970,665.10
118,537,154.94
28,699,108.51
Total of comprehensive profits attributable to the minority of shareholders
7,375,333.33
-
6,723,400.10
-
4.3 Cash flow statement
Prepared by: Livzon Pharmaceutical Group Inc. January to March 2010 Unit :( RMB) Yuan
Amount in this year
Amount in previous year
Item
Consolidation
Parent Company
Consolidation
Parent Company
I. Cash flows from operating activities
Cash received from sales of goods or rendering of services
702,004,944.46
228,653,775.65
546,256,035.84
195,928,320.78
Net increase from disposal of tradable financial assets
Tax refunding
1,969,870.42
3,532,720.47
Cash received related to other operating activities
14,990,719.05
58,696,690.61
14,453,498.06
19,381,258.88
Subtotal of cash inflow from the operating activities
718,965,533.93
287,350,466.26
564,242,254.37
215,309,579.66
Cash paid for purchase of goods
214,073,059.42
122,593,011.85
148,560,350.32
120,251,945.23
8The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
or receiving of services
Cash paid to and on behalf of employees
72,620,509.76
21,126,237.40
63,511,730.88
19,039,495.83
Tax payments
108,874,572.51
24,471,787.45
80,889,809.51
20,611,064.86
Cash paid to other operating activities
154,895,040.76
85,337,256.41
102,347,591.28
45,365,913.40
Subtotal of cash outflow from operating activities
550,463,182.45
253,528,293.11
395,309,481.99
205,268,419.32
Net cash flow from operating activities
168,502,351.48
33,822,173.15
168,932,772.38
10,041,160.34
II. Cash flow from investment activities:
Cash received from disposal of investments
119,019,666.02
109,167,422.79
Cash received from investment returns
Net cash received from disposal of fixed assets, intangible assets and other long-term assets
2,735,417.34
-11,645.00
Net cash amount received from the disposal of subcompanies and other business units
Cash received related to other investment activities
14,437.60
Subtotal of cash inflow from the investment activities
2,735,417.34
119,008,021.02
109,181,860.39
Cash paid to acquire and construct fixed assets, intangible assets andother long-term assets
59,630,111.51
1,289,659.84
19,600,881.94
939,105.13
Cash paid to acquire investments
Net cash amount paid to acquire the subcompanies and other operating units
Cash paid related to other investment activities
4,577.16
3,500.00
3,500.00
Subtotal of cash outflow from investment activities
59,630,111.51
1,294,237.00
19,604,381.94
942,605.13
Net amount of cash flow received from the investment activities
-56,894,694.17
-1,294,237.00
99,403,639.08
108,239,255.26
III. Cash flow from financing activities:
Cash received by investors
Including: cash received from the investment of minority of shareholders in the subcompanies
Cash from loans
109,851,250.00
109,851,250.00
49,730,000.00
49,730,000.00
Cash received from the issuing of bonds
Cash received related to other financing activities
Subtotal of cash inflow from the financing activities
109,851,250.00
109,851,250.00
49,730,000.00
49,730,000.00
Repayments of loans
109,836,600.00
109,836,600.00
260,000,000.00
120,211,433.98
Cash paid for distribution of dividends, profits and repayment
2,445,672.69
1,738,712.50
6,822,293.33
6,822,293.33
9The 2010 First Quarterly Report of Livzon Pharmaceutical Group Inc.
of interests
Including: the dividends and profits paid to the minority of shareholders by the subcompanies
Cash payments related to other financing activities
41,343,552.95
41,343,552.95
Loans to subcompanies
-86,010,294.33
Subtotal of cash inflow from the financing activities
112,282,272.69
25,565,018.17
308,165,846.28
168,377,280.26
Net cash flow from financing activities
-2,431,022.69
84,286,231.83
-258,435,846.28
-118,647,280.26
IV. Effect of foreign exchange fluctuation on cash and cash equivalents
-74,488.91
-81,021.68
-30,190.69
-18,419.34
V. Net increase of cash and cash equivalents
109,102,145.71
116,733,146.30
9,870,374.49
-385,284.00
Plus: Balance of cash and cash equivalents at the beginning of the period
558,262,596.74
449,132,586.01
540,183,900.36
465,301,653.09
VI Balance of cash and cash equivalents at the end of the period
667,364,742.45
565,865,732.31
550,054,274.85
464,916,369.09
4.4 Auditing of the report
The auditing opinion: this report has not been audited.
Livzon Pharmaceutical Group Inc.
Chairman:朱保国
April 22, 2010 10
