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The Company previously announced that its preliminary unaudited 2009financial results were subject to the completion of the impairment review ofgoodwill and intangible assets and the purchase price allocation with respectto the Company's acquisition of Jiangsu Yanshen Biological Technology StockCo., Ltd. ("Jiangsu Yanshen"). Management has completed the goodwillimpairment analysis and the purchase price allocation and as a result hasrevised the Company's previously reported preliminary unaudited 2009 financialresults. The revision has resulted in a decrease in net income from RMB155.9million to RMB28.9 million (US$4.2 million), a decrease in net incomeattributable to the non-controlling interest from RMB36.4 million to RMB2.4million (US$0.4 million), and a decrease in net income attributable to Simcerefrom RM119.5 million to RMB26.4 million (US$3.9 million). After the revision,the Company's basic and diluted earnings per American Depository Share (ADS)for the year ended December 31, 2009 were RMB0.46 (US$0.07) and RMB0.45 (US$0.07), respectively. One ADS represents two ordinary shares of the Company.
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About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leadingpharmaceutical company specializing in the development, manufacturing, andmarketing of branded generic and proprietary pharmaceuticals in China. Inrecent years, Simcere has been focusing its strategy on the development ofinnovative pharmaceuticals and first-to-market generics, and has introduced aninnovative anti-cancer medication Endu, a first-to-market medication Sinofuan,and first-to-market generics such as Bicun and Anxin. Simcere manufactures andsells antibiotics, anti-cancer medication, stroke management medication andbiopharmaceutical drugs such as vaccines. Simcere concentrates its researchand development efforts on the treatment of diseases with high incidenceand/or mortality rates and for which there is a clear demand for moreeffective pharmacotherapy such as cancer, strokes, orthopaedics and infectiousdiseases. For more information about Simcere Pharmaceutical Group, pleasevisit http://www.simcere.com .Investor and Media Contacts: Email: [email protected] In Nanjing: Frank Zhao Chief Financial Officer Simcere Pharmaceutical Group Tel: +86-25-8556-6666 ext 8818 In the United States: Kate Tellier Brunswick Group Tel: +1-212-333-3810 In Beijing: Ruirui Jiang Brunswick Group Tel: +86-10-6566-2256 In Hong Kong: Joseph Lo Chi-Lun Brunswick Group Tel: +852-3512-5000
SOURCE Simcere Pharmaceutical Group
