China Pharma Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>China Pharma Holdings, Inc. has filed its 2023 annual report on Form 10-K, detailing its financial performance and operational status.</b>

AI Summary

CHINA PHARMA HOLDINGS, INC. (CPHI) filed a Annual Report (10-K) with the SEC on April 1, 2024. China Pharma Holdings, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Nevada and its principal executive offices are located in Haikou, Hainan Province, China. Its common stock is traded on the NYSE American under the ticker symbol CPHI. The company has not been a well-known seasoned issuer and is classified as a non-accelerated filer and a smaller reporting company. CPHI has submitted all required reports for the preceding 12 months and has been subject to such filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking CHINA PHARMA HOLDINGS, INC., this filing contains several important signals. This filing provides stakeholders with a comprehensive overview of the company's financial health, strategic initiatives, and risk factors for the fiscal year 2023. As a non-accelerated filer and smaller reporting company, this 10-K is crucial for investors to assess CPHI's compliance and future prospects on the NYSE American.

Risk Assessment

Risk Level: low — CHINA PHARMA HOLDINGS, INC. shows low risk based on this filing. The filing indicates CPHI is a non-accelerated filer and smaller reporting company, suggesting a lower level of public scrutiny compared to larger, accelerated filers, but also potentially limited resources for extensive disclosures.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand China Pharma Holdings' current operational standing and potential growth areas.

Key Numbers

• 2023 — Fiscal Year End (The period covered by the 10-K filing.)
• 001-34471 — Commission File Number (SEC Commission file number for China Pharma Holdings, Inc.)
• 73-1564807 — IRS Employer Identification No. (IRS EIN for China Pharma Holdings, Inc.)

Key Players & Entities

• CHINA PHARMA HOLDINGS, INC. (company) — Filer name
• CPHI (company) — Trading Symbol
• NYSE American (company) — Exchange where common stock is registered
• 2023 (date) — Fiscal year end
• December 31, 2023 (date) — Fiscal year end
• Nevada (jurisdiction) — State of incorporation
• Haikou, Hainan Province, China (location) — Address of Principal Executive Offices

FAQ

Industry Context

China Pharma Holdings, Inc. operates within the pharmaceutical preparations industry, focusing on the development, manufacturing, and marketing of pharmaceutical products.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including the annual filing of a Form 10-K.

What Investors Should Do

1. Review the full Form 10-K for detailed financial statements and management's discussion and analysis.
2. Analyze the company's business segments and product pipeline for future growth indicators.
3. Assess the identified risk factors and their potential impact on CPHI's operations and stock performance.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for prior periods.

Key Financial Figures

• $1.7055 — 30, 2023, based on the closing price of $1.7055 of the Company's common stock on such d

Filing Documents

• ea0202772-10k_china.htm (10-K) — 1190KB
• ea020277201ex3-2_china.htm (EX-3.2) — 6KB
• ea020277201ex3-3_china.htm (EX-3.3) — 5KB
• ea020277201ex10-13_china.htm (EX-10.13) — 19KB
• ea020277201ex10-14_china.htm (EX-10.14) — 30KB
• ea020277201ex10-15_china.htm (EX-10.15) — 28KB
• ea020277201ex10-16_china.htm (EX-10.16) — 61KB
• ea020277201ex10-17_china.htm (EX-10.17) — 60KB
• ea020277201ex23-1_china.htm (EX-23.1) — 2KB
• ea020277201ex31-1_china.htm (EX-31.1) — 10KB
• ea020277201ex31-2_china.htm (EX-31.2) — 11KB
• ea020277201ex32-1_china.htm (EX-32.1) — 6KB
• ea020277201ex97-1_china.htm (EX-97.1) — 31KB
• image_001.jpg (GRAPHIC) — 14KB
• ex3-2_001.jpg (GRAPHIC) — 146KB
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• ex3-3_001.jpg (GRAPHIC) — 136KB
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• ex3-3_005.jpg (GRAPHIC) — 282KB
• ex3-3_006.jpg (GRAPHIC) — 278KB
• ex3-3_007.jpg (GRAPHIC) — 184KB
• 0001213900-24-028731.txt (&nbsp;) — 10391KB
• cphi-20231231.xsd (EX-101.SCH) — 48KB
• cphi-20231231_cal.xml (EX-101.CAL) — 49KB
• cphi-20231231_def.xml (EX-101.DEF) — 263KB
• cphi-20231231_lab.xml (EX-101.LAB) — 455KB
• cphi-20231231_pre.xml (EX-101.PRE) — 254KB
• ea0202772-10k_china_htm.xml (XML) — 488KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 48 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 55 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 55 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 55 Item 9A.

Controls and Procedures

Controls and Procedures. 55 Item 9B. Other Information. 56 Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections. 56 PART III 57 Item 10. Directors, Executive Officers and Corporate Governance. 57 Item 11.

Executive Compensation

Executive Compensation. 60 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters. 62 Item 13. Certain Relationships and Related Transactions, and Director Independence. 63 Item 14. Principal Accountant Fees and Services. 64 PART IV 65 Item 15. Exhibits, Financial Statement Schedules. 65

SIGNATURES

SIGNATURES 66 EXHIBIT INDEX 67

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS F-1 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS The statements contained in this report with respect to our financial condition, results of operations and business that are not historical facts are "forward-looking "believe", "expect", "plan", "intend", "seek", "estimate", "project", "could", "may" or the negative thereof or other variations thereon, or by discussions of strategy that involve risks and uncertainties. Management wishes to caution the reader of the forward-looking statements that any such statements that are contained in this report reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, economic, competitive, regulatory, technological, key employees, and general business factors affecting our operations, markets, growth, services, products, licenses and other factors, some of which are described in this report including in "Risk Factors" in Item 1A and some of which are discussed in our other filings with the SEC. These forward-looking may differ materially as a result of risks facing our company, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events. These risk factors should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. All written and oral forward looking statements made in connection with this report that are attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given these uncertainties, we caution investors not to unduly rely on our forward-looking statements. We d

BUSINESS

ITEM 1. BUSINESS. Overview China Pharma Holdings Inc. (the "Company", "China Pharma", "we", "us", or "our") is a Nevada holding company. China Pharma is not a Chinese operating company and all the operations are all conducted by our wholly owned subsidiary, Hainan Helpson Medical and Biotechnology Co., Ltd. ("Helpson") and its subsidiaries in China. We, through Helpson, are principally engaged in the development, manufacture and marketing of pharmaceutical products for human use in connection with a variety of high-incidence and high-mortality diseases and medical conditions prevalent in the People's Republic of China (the "PRC"). All of the operations are conducted in the PRC, where the manufacturing facilities are located. Helpson manufactures pharmaceutical products in the form of dry powder injectables, liquid injectables, tablets, capsules, and cephalosporin oral solutions. The majority of Helpson's pharmaceutical products are sold on a prescription basis and all of them have been approved for at least one or more therapeutic indications by the National Medical Products Administration (the "NMPA", formerly China Food and Drug Administration, CFDA) based upon demonstrated safety and efficacy. As of December 31, 2023, China Pharma, through Helpson, manufactured 19 pharmaceutical products for a wide variety of diseases and medical indications, each of which may be classified into one of three general categories: Basic generic drugs, which are common drugs in the PRC for which there is a very large market demand; First-to-market generic drugs, which are generic drugs that are new to the PRC marketplace; or Modern Traditional Chinese Medicines ("TCMs"), which are generally comprised of non-synthetic, plant-based medicinal compounds that have been widely used in the PRC for thousands of years. We apply modern production techniques to produce pharmaceutical products in different formulations, such as tablets, capsules or powders. In selecting generic drugs

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View this 10-K filing on SEC EDGAR