China BCT Pharmacy Group, Inc. (CNBI)

[RedStick]

burp, here's a repost of the DD I did a couple weeks back:

Here's the link to the S-1: http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7097172

CNBI:

China Baicaotang is engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals and medical-related products through its subsidiaries Guangxi Liuzhou Baicaotang Medicine Limited, Hefeng Pharmaceutical Co. Limited, and Guangxi Liuzhou Baicaotang Medicine Retail Limited in Guangxi province, China. It operates the largest regional retail network in Guangxi province, consisting of 66 directly owned retail stores in Guangxi province and currently over 8,000 products are distributed through the Company's wholesale distribution network.

For more information, please contact:

Company Contact:
Ms. Shelly Zhang, Chief Financial Officer
China Baicaotang Medicine Limited
Email: [e-mail]
Tel: [phone]

Investor Relations Contact:
Mr. Shaun Smolarz, Financial Writer
Email: [e-mail]
Tel: [phone]

Mr. Crocker Coulson, President
Email: [e-mail]
Tel: [phone]
CCG Investor Relations
Web: http://www.ccgirasia.com

Just saw they recently filed an S-1. Their financials are impressive:

Sales Revenue:

Year ended:

06 - 32M
07 - 66M
08 - 109M

Nine mos. ended Sep. 30:

08 - 86M
09 - 99M

So I'm guessing year ended 09 revenues will come in at around 120M.

Net Income:

Year ended

06 - 2M
07 - 6M
08 - 17M

Nine mos. ended Sep. 30

08 - 14M
09 - 15M

So I'm guessing year ended 09 net income will come in at around 18M.

Cash:

Year ended

06 - 143k
07 - 520k
08 - 1.3M

As of Sep. 30, 2009:

13M (Yes, you are reading that correctly.)

Total Assets:

Year ended

06 - 32M
07 - 44M
08 - 66M

As of Sep. 30, 2009:

89M

Total Liabilities:

Year ended

06 - 24M
07 - 32M
08 - 37M

As of Sep. 30, 2009:

45M (I'd have liked to see this figure not be this high by only Sep.)

Ratio of Assets/Liabilities:

06 - 1.3
07 - 1.4
08 - 1.8

As of Sep. 30, 2009:

2 (So even though the liabilities were increasing at a greater rate by Sep. 30, 2009 than they were for the years 2006-2008, the assets are still increasing at a proportionately higher rate in relation the the liabilities, which makes up for in the increasing liabilities.)

Outstanding Shares - as of 3/1/10

38,154,340

Outstanding Shares (Fully Diluted - assuming all warrants are exercised):

40,265,575

Authorized Shares:

100,000,000

EPS as of Sep. 30, 2009:

.36 (To make things easy, we'll assume they earned .48 for the entire year).

Today's P/E using assumed TTM EPS of .48:

5.5

Free Level II Quotes:

http://www.otcmarkets.com/pink/quote/quote.jsp?symbol= style='background-color:yellow;'>cnbi

Recent News:

2/23/10 - China Baicaotang Retains CCG Investor Relations

http://finance.yahoo.com/news/China-Baicaotang-Retains-CCG-prnews-3985708260.html?x=0&.v=17

3/3/10 - China Baicaotang to Attend Rodman & Renshaw Annual China Investment Conference

http://finance.yahoo.com/news/China-Baicaotang-to-Attend-prnews-1313888732.html?x=0&.v=77