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China Shenghuo Pharmaceutical Reports Financial Results for the First Quarter of 2011

Tuesday, May 17, 2011 General News J E 4
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CHINA SHENGHUO PHARMACEUTICAL HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Amounts in USD)

Three months ended March 31,

2011

2010

(Unaudited)

(Unaudited)

Net cash provided by operating activities

$

2,609,836

$

2,022,198

Cash flows from investing activities:

Purchase of long-lived assets

(2,290,979)

(3,205,176)

Proceeds from disposal of property

169

131,913

Net cash used in investing activities

(2,290,810)

(3,073,263)

Cash flows from financing activities:

Proceeds from borrowings

3,292,326

9,563,858

Payments on borrowings

(3,886,067)

(9,636,020)

Net cash used in financing activities

(593,741)

(72,162)

Effect of foreign currency fluctuation on cash and cash equivalents

14,632

492

Net decrease in cash and cash equivalents

(260,083)

(1,122,735)

Cash and cash equivalents at beginning of period

1,669,387

1,986,540

Cash and cash equivalents at end of period

$

1,409,304

$

863,805

Supplemental information

Cash paid for interest

$

332,323

$

261,726

Cash paid for income taxes

$

-

$

-

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