China Pharma Holdings, Inc. Files 10-Q for Q1 2024

TL;DR

<b>China Pharma Holdings, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial and operational status.</b>

AI Summary

CHINA PHARMA HOLDINGS, INC. (CPHI) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Filed a 10-Q report for the quarterly period ended March 31, 2024. The company is registered in Nevada with IRS number 75-1564807. Principal executive offices located at Second Floor, No. 17, Jinpan Road, Haikou, Hainan Province, China. Common stock trades under the symbol CPHI on NYSE American. The company has elected not to use the extended transition period for new accounting standards.

Why It Matters

For investors and stakeholders tracking CHINA PHARMA HOLDINGS, INC., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for China Pharma Holdings, Inc. for the first quarter of 2024. As a publicly traded company, CPHI is required to submit regular filings like this 10-Q to ensure transparency and inform stakeholders about its business activities and financial health.

Risk Assessment

Risk Level: low — CHINA PHARMA HOLDINGS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future filings for revenue growth, profitability, and any strategic updates from China Pharma Holdings, Inc.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (Conformed Period of Report)
• 2024-05-15 — Filing Date (Filed as of date)
• 001-34471 — Commission File Number (SEC File Number)
• NYSE American — Exchange (Name of each exchange on which registered)

Key Players & Entities

• CHINA PHARMA HOLDINGS, INC. (company) — Exact name of registrant
• 0001213900-24-043591 (filing_id) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240515 (date) — Filed as of date
• 0001106644 (company_id) — Central Index Key
• 2834 (industry_code) — Standard Industrial Classification
• 75-1564807 (tax_id) — IRS Number
• CPHI (stock_symbol) — Trading Symbol

FAQ

Industry Context

China Pharma Holdings, Inc. operates within the pharmaceutical preparations industry, focusing on the research, 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 filing of quarterly reports (10-Q) to ensure transparency for investors.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track CPHI's stock performance and any subsequent news releases.
3. Analyze industry trends impacting pharmaceutical companies in China.

Year-Over-Year Comparison

This filing is a standard 10-Q for the period ending March 31, 2024, and does not provide comparative data from a previous filing within this extract.

Key Financial Figures

• $0.001 — were 15,870,070 shares of common stock, $0.001 par value per share, issued and outstan

Filing Documents

• ea0205867-10q_chinapharma.htm (10-Q) — 478KB
• ea020586701ex31-1_china.htm (EX-31.1) — 10KB
• ea020586701ex31-2_china.htm (EX-31.2) — 10KB
• ea020586701ex32-1_china.htm (EX-32.1) — 7KB
• 0001213900-24-043591.txt (&nbsp;) — 3939KB
• cphi-20240331.xsd (EX-101.SCH) — 43KB
• cphi-20240331_cal.xml (EX-101.CAL) — 41KB
• cphi-20240331_def.xml (EX-101.DEF) — 228KB
• cphi-20240331_lab.xml (EX-101.LAB) — 390KB
• cphi-20240331_pre.xml (EX-101.PRE) — 234KB
• ea0205867-10q_chinapharma_htm.xml (XML) — 327KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

OTHER INFORMATION

PART II OTHER INFORMATION 24 Item 6. Exhibits 24 i

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CHINA PHARMA HOLDINGS, INC. AND SUBSIDIARIES TABLE OF CONTENTS Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (Unaudited) 2 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 1 CHINA PHARMA HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 838,881 $ 1,423,838 Banker's acceptances - 65,915 Trade accounts receivable, less allowance for doubtful accounts of $ 13,759,993 and $ 13,786,074 , respectively 358,765 504,448 Other receivables, less allowance for doubtful accounts of $ 27,083 and $ 27,017 , respectively 32,220 157,944 Advances to suppliers 11,339 2,013 Inventories 3,679,065 3,732,517 Prepaid expenses 203,999 110,258 Total Current Assets 5,124,269 5,996,933 Property, plant and equipment, net 6,450,692 7,100,425 Right-of-use assets 97,006 116,610 Intangible assets, net 4,518,482 3,255,232 TOTAL ASSETS $ 16,190,449 $ 16,469,200 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Trade accounts payable $ 647,828 $ 966,420 Accrued expenses 114,636 298,829 Other payables 2,117,222 2,282,692 Advances from customers 112,357 90,507 Borrowings from related parties 1,138,795 1,133,809 Lease liabilities 78,284 77,727 Current portion of lines of credit 1,028,894 1,030,680 Convertible, redeemable note payable, net of issue discount 490,000 940,000 Total Current Liabilities 5,728,016 6,820,664 Non-current L

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