OTC Bulletin Board S & P Company Insight for CHINA BIOTICS INC
Profile
	Business Summary: China-Biotics, Inc. engages in the research, development, production, marketing, and distribution of probiotics products in the People's Republic of China. The company's products contain live microbial food supplements, which affect the host by improving its intestinal microbial balance.   Address   No. 999 Ningqiao Rd.   Jinqiao Export Processing Zone   Pudong , Shanghai 201206   Phone: 86-21-5834-9748   Website: http://www.chn-biotics.com Auditor   BDO McCabe Lo Ltd. Transfer Agent   American Stock Transfer & Trust Co. Employees:  307 ShareHolders:  42 Founded:  2003 Domicile:  Delaware
Background
	China-Biotics, Inc. engages in the research, development, production, marketing, and distribution of probiotics products in the People's Republic of China. The company's products contain live microbial food supplements, which affect the host by improving its intestinal microbial balance. Its flagship product is Shining Essence for balancing the microecology of the digestive system, enhancing intestinal health, and protecting and strengthening liver function. The company's products also include Shining Signal that is focused on reducing high blood pressure, high blood sugar level, and hyperlipidemia; Shining Golden Shield for enhancing the body's immune system; and Shining Energy aiming at promoting the development of brain cells and enhancing alertness and energy. In addition, China-Biotics offers Shining Beauty Essence focused on increasing bone mineral density of elderly people and reducing negative health effects associated with the aging process; Shining Companion Bifidus Factor Granule aimed at enhancing the growth of bifidus in the human body and enhancing intestinal health; Shining Stomach Protection Capsules focused on protecting stomach walls and enhancing the digestive system; Shining Sicanel Capsules aimed at reducing hyperlipidemia, or excess levels of fats in the blood; and Shining Golden Shield focused on enhancing the body's immune system. The company distributes its products under the `Shining' brand through networks to supermarkets, hypermarkets, and drug stores. As of March 31, 2008, it had 60 Shining branded stores in Shanghai and other cities in China. The company is based in Pudong, the People's Republic of China. History:  INCORPORATED in Delaware Feb. 20, 2003 as Otish Resources, Inc. Name changed to China-Biotics, Inc. Mar. 21, 2006. March 22, 2006, issued 15,980,000 Common shares to acquire all of the outstanding equity securities of Sinosmart Group Inc. At the close of the transaction, Sinosmart Group Inc. became a wholly owned subsidiary of the company.   Subsidiaries: Growing Bioengineering (Shanghai) Co. Ltd. Growing State Limited Shanghai Shining Biotechnology Co. Ltd. Sinosmart Group Inc.
Management
	Management Officers Position  Song  Jinan Chairman, President, Secretary, Treasurer & Chief Executive Officer  Raymond  Li Chief Financial Officer  Crocker  Coulson Investor Relations Contact Directors  Ji Wei  Chin  Wen Min  Du  Song  Jinan  Simon  Yick
Annual Report
	Annual Report   Income Statement   2008 2007 Net sales 42,321 30,610 Cost of sales 12,310 8,911 Gross profit 30,011 21,699 Selling expenses 6,869 4,503 General and admin. exps. 4,826 2,265 Other income 4,163 224 Other expenses -- 63 Income before taxes 22,479 15,092 Income tax 4,937 4,187 Net income 17,542 10,905 Share earns. basic $1.03 $0.64 Share earns. diluted $0.80 $0.64   Balance Sheet   2008 2007 Assets: Cash & equiv. 64,310 26,992 Deposit paid 239 216 Accts. rec., net 13,215 14,310 Inventories 408 203 Other curr. assets 1,807 176 Tot. curr assets 79,979 41,897 Net property 13,813 2,683 Total assets 93,792 44,580 Liabilities: Accts. pay. 2,786 1,523 Taxes pay. 22,318 18,020 Other curr. liabs. 1,792 1,127 Tot. curr. liabs. 26,896 20,670 Notes pay. 16,446 -- Other liabs. 6,052 -- Stockholders' equity Com. stk. p.$0.0001 2 2 Paid-in cap. 7,863 7,863 Retained earns. 29,827 12,285 Total stockholders' equity 44,395 23,910 Other stockholders' equity 6,704 3,760 Total liabs. 93,792 44,580    * Effective Mar. 22 '06, China-Biotics, Inc. issued 15,980,000 com. shs. for all of the outstanding shs. of Sinosmart Group Inc. (Sinosmart). Transaction was acctd. for as a reverse acquis., with Sinosmart being deemed the acquiring company. Results reflect the opers. of Sinosmart for all periods and incl. opers. of China-Biotics from the effective date of the transaction.
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2008   1 9,520,000   2008   2 8,180,000   2008   3 14,930,000   2008   Full Year 43,320,000   2006   Full Year 30,600,000     Quarterly Net Income, US$ Year Quarter Revenue   2007   1 2,540,000   2007   2 1,970,000   2007   3 4,040,000     Quarterly EPS, US$ Year Quarter Revenue   2008   1 .21   2008   2 .11   2008   3 .23   2008   Full Year .80   2007   Full Year .64
Stock Data
	Capitalization as of 06/30/2008:     Authorized Shares Outstanding Shares Preferred $0.01 par 10,000,000 None Common $0.0001 par 100,000,000 17,080,000so2   LONG TERM DEBT: $24,027,443.   Common $0.0001 par   Stockholders:  03/31/2008, 42. PRINCIPAL STOCKHOLDERS: March 31, 2008, Song Jinan owned or controlled 29.8% of the Common, Yan Li 17.4%, Huang Weida 8.8%, Alexander Tai Kwok Leung 8.6%, Chinamerica Fund, L.P. 6.7%, Bright Treasure Group Limited 6.6% and Pope Investments 5.5%.   Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY   OTC Bulletin Board( Primary): CHBT   Exchange Year High Low OTC Bulletin Board 2007 14.5000 6.5000 OTC Bulletin Board 2006 9.2500 1.4900   DIVIDENDS: Common $0.0001 par: None.       so2Excl. 24,381,004 in treas.