2013 Q1 Form 10-K Financial Statement

#000114420413055291 Filed on October 15, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2013 2012 Q4
Revenue $2.725M $8.996M $2.431M
YoY Change -75.78% -84.74% -89.86%
Cost Of Revenue $2.515M $7.732M $1.915M
YoY Change -60.75% -77.86% -86.7%
Gross Profit $210.6K $1.263M $516.1K
YoY Change -95.65% -94.74% -94.61%
Gross Profit Margin 7.73% 14.04% 21.23%
Selling, General & Admin $354.0K $1.888M $641.2K
YoY Change -37.55% -59.41% -71.96%
% of Gross Profit 168.11% 149.4% 124.24%
Research & Development $120.5K $444.9K $120.1K
YoY Change 0.28% 42.99% 0.05%
% of Gross Profit 57.22% 35.22% 23.27%
Depreciation & Amortization $48.91K $412.0K $161.8K
YoY Change 63.05% 273.67% 709.09%
% of Gross Profit 23.23% 32.61% 31.36%
Operating Expenses $523.4K $2.612M $923.1K
YoY Change -29.12% -48.03% -61.89%
Operating Profit -$312.8K -$1.348M -$407.0K
YoY Change -107.62% -107.1% -105.69%
Interest Expense $22.16K $121.7K $32.52K
YoY Change 220.89% 393.06%
% of Operating Profit
Other Income/Expense, Net $44.74K $125.7K $29.44K
YoY Change -41.1% -58.75% -58.05%
Pretax Income -$268.1K -$1.223M -$377.6K
YoY Change -106.41% -106.34% -105.23%
Income Tax $93.00 $23.93K $15.98K
% Of Pretax Income
Net Earnings -$268.1K -$1.247M -$393.5K
YoY Change -107.38% -108.61% -107.6%
Net Earnings / Revenue -9.84% -13.86% -16.19%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$4.338K -$0.02 -$6.266K
COMMON SHARES
Basic Shares Outstanding 62.24M shares
Diluted Shares Outstanding 62.24M shares

Balance Sheet

Concept 2013 Q1 2013 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.94M $28.84M $49.87M
YoY Change 21.73% -35.19% 80.62%
Cash & Equivalents $29.86M $28.84M $33.83M
Short-Term Investments
Other Short-Term Assets $550.0K $230.0K $460.0K
YoY Change -20.29% -67.61% -41.03%
Inventory $196.6K $160.0K $217.1K
Prepaid Expenses $545.1K $461.4K
Receivables $4.631K $0.00 $1.074M
Other Receivables $24.44K $16.31M $24.05K
Total Short-Term Assets $46.71M $45.55M $51.64M
YoY Change -3.43% -4.49% 3.08%
LONG-TERM ASSETS
Property, Plant & Equipment $2.561M $3.260M $1.135M
YoY Change 53.36% 100.0% -32.81%
Goodwill
YoY Change
Intangibles $5.687M $859.3K
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Long-Term Assets -$5.135M $8.890M -$9.964M
YoY Change -187.48% 53.54% -268.87%
TOTAL ASSETS
Total Short-Term Assets $46.71M $45.55M $51.64M
Total Long-Term Assets -$5.135M $8.890M -$9.964M
Total Assets $41.58M $54.44M $41.68M
YoY Change -23.34% 1.8% -25.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $300.0K $120.0K $300.0K
YoY Change 1400.0% -60.0% -86.73%
Accrued Expenses $240.0K $220.0K $220.0K
YoY Change -54.72% 37.5% -81.36%
Deferred Revenue
YoY Change
Short-Term Debt $430.0K $430.0K $430.0K
YoY Change 0.0% -2.27% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.260M $990.0K $1.270M
YoY Change -33.71% -25.0% -82.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.260M $990.0K $1.270M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.260M $990.0K $1.270M
YoY Change -33.68% -25.0% -82.58%
SHAREHOLDERS EQUITY
Retained Earnings $47.54M $47.81M
YoY Change
Common Stock $1.468M $1.468M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.91M $53.45M $53.02M
YoY Change
Total Liabilities & Shareholders Equity $54.17M $54.44M $54.29M
YoY Change -0.14% 1.8% -3.06%

Cashflow Statement

Concept 2013 Q1 2013 2012 Q4
OPERATING ACTIVITIES
Net Income -$268.1K -$1.247M -$393.5K
YoY Change -107.38% -108.61% -107.6%
Depreciation, Depletion And Amortization $48.91K $412.0K $161.8K
YoY Change 63.05% 273.67% 709.09%
Cash From Operating Activities $1.060M $5.177M $3.450M
YoY Change -89.55% -75.22% 167.44%
INVESTING ACTIVITIES
Capital Expenditures $766.00 $55.12K $42.26K
YoY Change -27.74% -135.21%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$4.790M -$6.495M -$210.0K
YoY Change 1078.63% 75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.00K $421.8K 160.0K
YoY Change 27005.33% -142.11%
NET CHANGE
Cash From Operating Activities 1.060M $5.177M 3.450M
Cash From Investing Activities -4.790M -$6.495M -210.0K
Cash From Financing Activities 50.00K $421.8K 160.0K
Net Change In Cash -3.680M -$896.7K 3.400M
YoY Change -136.29% -104.41% 330.38%
FREE CASH FLOW
Cash From Operating Activities $1.060M $5.177M $3.450M
Capital Expenditures $766.00 $55.12K $42.26K
Free Cash Flow $1.059M $5.122M $3.408M
YoY Change -89.55% -75.4% 141.68%

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CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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CY2013 us-gaap Proceeds From Related Party Debt
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0 USD
CY2012 us-gaap Proceeds From Related Party Debt
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1556 USD
CY2011 us-gaap Proceeds From Related Party Debt
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110504 USD
CY2010Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2013 us-gaap Income Taxes Paid
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CY2012 us-gaap Income Taxes Paid
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CY2011 us-gaap Income Taxes Paid
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CY2013 us-gaap Interest Paid
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CY2012 us-gaap Interest Paid
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CY2011 us-gaap Interest Paid
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0 USD
CY2013 us-gaap Payments To Acquire Intangible Assets
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4805401 USD
CY2012 us-gaap Payments To Acquire Intangible Assets
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0 USD
CY2011 us-gaap Payments To Acquire Intangible Assets
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0 USD
CY2013 us-gaap Repayments Of Related Party Debt
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4326 USD
CY2013 us-gaap Concentration Risk Credit Risk
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify"><strong>Concentrations of Credit Risk</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">All of the Company&#8217;s manufacturing is located in the PRC. There can be no assurance that the Company will be able to successfully continue to manufacture its products and failure to do so would have a material adverse effect on the Company&#8217;s financial position, results of operations and cash flows. Also, the success of the Company&#8217;s operations is subject to numerous contingencies, some of which are beyond management&#8217;s control. These contingencies include general economic conditions, prices of raw materials, competition, governmental and political conditions, and changes in regulations.&#160;Since the Company is dependent on trade in the PRC, the Company is subject to various additional political, economic and other uncertainties. Among other risks, the Company&#8217;s operations will be subject to the&#160;risks of restrictions on transfer of funds, domestic and international customs, changing taxation policies, foreign exchange restrictions, and political and governmental regulations.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">The Company operates in China, which may give rise to significant foreign currency risks from fluctuations and the degree of volatility of foreign exchange rates between U.S. dollars and the Chinese currency RMB. The results of operations denominated in foreign currency are translated at the average rate of exchange during the reporting period.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.25 pure
CY2013 us-gaap Use Of Estimates
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify"><strong>Use of Estimates</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px" align="justify">The preparation of financial statements in conformity with US GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. China Health bases its estimates and judgments on historical experience and on various other assumptions and information that are believed to be reasonable under the circumstances. Estimates and assumptions of future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. The more significant estimates and assumptions by management include, among others, useful lives and residual value of long-lived assets, valuation of inventory, accounts receivable and notes receivable, impairment analysis of long-lived assets, intangible assets and deferred taxes. While&#160;the Company&#160;believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from those estimates.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.25 pure
CY2011 chhe Income Tax Reconciliation At Federal Statutory Income Tax Rate Foreign Enterprise
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5899624 USD
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0 USD
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Other
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151 USD
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0.5 pure
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38679 USD
CY2013Q2 chhe Appropriation To Statutory Surplus Reserve
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250000 CNY
CY2013 chhe Value Added Tax Goods Percentage
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13% or 17%
CY2011 us-gaap Income Tax Reconciliation Nondeductible Expense Other
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6898 USD
CY2013Q2 us-gaap Cash Uninsured Amount
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28839609 USD
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44500205 USD
CY2011Q2 us-gaap Cash Uninsured Amount
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23740502 USD
CY2013Q2 us-gaap Cash Fdic Insured Amount
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0 USD
CY2012Q2 us-gaap Cash Fdic Insured Amount
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4326 USD
CY2011Q2 us-gaap Cash Fdic Insured Amount
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4318 USD
CY2013 chhe Total Payment To Contractor
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1466419 USD
CY2013 chhe Total Payment To Contractor
TotalPaymentToContractor
9000000 CNY
CY2012 chhe Total Payment To Contractor
TotalPaymentToContractor
1416654 USD
CY2012 chhe Total Payment To Contractor
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9000000 CNY
CY2011 chhe Total Payment To Contractor
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1392434 USD
CY2011 chhe Total Payment To Contractor
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9000000 CNY
CY2013Q2 chhe Deferred Expenses
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156750 USD
CY2012Q2 chhe Deferred Expenses
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600321 USD
CY2011Q2 chhe Deferred Expenses
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900928 USD
CY2013Q2 us-gaap Supplies
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65126 USD
CY2012Q2 us-gaap Supplies
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99317 USD
CY2011Q2 us-gaap Supplies
Supplies
106702 USD
CY2013Q2 us-gaap Inventory Valuation Reserves
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0 USD
CY2012Q2 us-gaap Inventory Valuation Reserves
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0 USD
CY2011Q2 us-gaap Inventory Valuation Reserves
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0 USD
CY2007Q2 chhe Pharmaceutical Patents
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518135 USD
CY2007Q2 chhe Pharmaceutical Patents
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3180000 CNY
CY2013Q1 chhe Supplemental Product Patents
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4888063 USD
CY2013Q1 chhe Supplemental Product Patents
SupplementalProductPatents
30000000 CNY
CY2013Q2 chhe Supplemental Product Patents
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4765862 USD
CY2004Q2 chhe Land Use Rights Purchase
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855085 USD
CY2004Q2 chhe Land Use Rights Purchase
LandUseRightsPurchase
5248000 CNY
CY2009 chhe Payments To Acquire Land Use Rights
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177597 USD
CY2009 chhe Payments To Acquire Land Use Rights
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1089984 CNY
CY2013Q2 chhe Land Use Rights And Improvements
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861746 USD
CY2012Q2 chhe Land Use Rights And Improvements
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852834 USD
CY2011Q2 chhe Land Use Rights And Improvements
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860163 USD
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
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0.25 pure
CY2013 chhe Value Added Tax Services Percentage
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0.17 pure
CY2013 chhe Sales Tax Description
SalesTaxDescription
Pursuant to the tax law and regulations of PRC, China Health is obligated to pay 7% and 5% of the annual VAT paid as tax on maintaining and building cities and education additional fee, both of which belong to sales-related taxes.
CY2013 chhe Sales Taxes And Sales Related Taxes
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141714 USD
CY2012 chhe Sales Taxes And Sales Related Taxes
SalesTaxesAndSalesRelatedTaxes
992789 USD
CY2011 chhe Sales Taxes And Sales Related Taxes
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1062267 USD
CY2013Q2 us-gaap Accrued Employee Benefits Current
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36468 USD
CY2012Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
25127 USD
CY2011Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
24272 USD
CY2013Q2 chhe Appropriation To Statutory Surplus Reserve Percentage
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0.1 pure
CY2013 chhe Income Tax Reconciliation Nondeductible Expense Temporary Differences
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23932 USD
CY2012 chhe Income Tax Reconciliation Nondeductible Expense Temporary Differences
IncomeTaxReconciliationNondeductibleExpenseTemporaryDifferences
3610 USD
CY2011 chhe Income Tax Reconciliation Nondeductible Expense Temporary Differences
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215314 USD
CY2013 chhe Income Tax Reconciliation Nondeductible Expense Permanent Differences
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0 USD
CY2012 chhe Income Tax Reconciliation Nondeductible Expense Permanent Differences
IncomeTaxReconciliationNondeductibleExpensePermanentDifferences
-15961 USD
CY2011 chhe Income Tax Reconciliation Nondeductible Expense Permanent Differences
IncomeTaxReconciliationNondeductibleExpensePermanentDifferences
-206914 USD
CY2013Q2 chhe Provisions For Sale Returns
ProvisionsForSaleReturns
39299 USD
CY2012Q2 chhe Provisions For Sale Returns
ProvisionsForSaleReturns
294737 USD
CY2011Q2 chhe Provisions For Sale Returns
ProvisionsForSaleReturns
904227 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2009Q3 chhe Payments For Retainer Fees
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814677 USD
CY2009Q3 chhe Payments For Retainer Fees
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5000000 CNY
CY2013Q2 us-gaap Due From Employees Current
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12334 USD
CY2012Q2 us-gaap Due From Employees Current
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11915 USD
CY2011Q2 us-gaap Due From Employees Current
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2955 USD
CY2013Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
0 USD
CY2012Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
0 USD
CY2011Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
25992 USD
CY2013Q2 us-gaap Other Receivables Gross Current
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12653 USD
CY2012Q2 us-gaap Other Receivables Gross Current
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11315 USD
CY2011Q2 us-gaap Other Receivables Gross Current
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3094 USD
CY2013Q2 chhe Inventory Supplies And Packing Materials
InventorySuppliesAndPackingMaterials
17417 USD
CY2012Q2 chhe Inventory Supplies And Packing Materials
InventorySuppliesAndPackingMaterials
18131 USD
CY2011Q2 chhe Inventory Supplies And Packing Materials
InventorySuppliesAndPackingMaterials
63804 USD
CY2013Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
41209 USD
CY2012Q2 us-gaap Inventory Finished Goods
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61624 USD
CY2011Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
154770 USD
CY2013Q2 us-gaap Inventory Work In Process
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43050 USD
CY2012Q2 us-gaap Inventory Work In Process
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56572 USD
CY2011Q2 us-gaap Inventory Work In Process
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191506 USD
CY2013Q2 us-gaap Inventory Raw Materials And Supplies
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59960 USD
CY2012Q2 us-gaap Inventory Raw Materials And Supplies
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137163 USD
CY2011Q2 us-gaap Inventory Raw Materials And Supplies
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328127 USD
CY2013 us-gaap Depreciation
Depreciation
89563 USD
CY2012 us-gaap Depreciation
Depreciation
87974 USD
CY2013 chhe Depreciation Expense Charged To Operations
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41860 USD
CY2012 chhe Depreciation Expense Charged To Operations
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41177 USD
CY2011 chhe Depreciation Expense Charged To Operations
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39493 USD
CY2013 us-gaap Cost Of Goods Sold Depreciation
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47703 USD
CY2012 us-gaap Cost Of Goods Sold Depreciation
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46797 USD
CY2011 us-gaap Cost Of Goods Sold Depreciation
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24955 USD
CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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9579 USD
CY2011Q2 chhe Income Taxes Payable Current
IncomeTaxesPayableCurrent
1539224 USD
CY2013Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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463156 USD
CY2012Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
359426 USD
CY2011Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
266795 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1108027 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1155544 USD
CY2011Q2 us-gaap Property Plant And Equipment Net
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1147281 USD
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
140827 USD
CY2012 us-gaap Amortization Of Intangible Assets
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22286 USD
CY2011 us-gaap Amortization Of Intangible Assets
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19132 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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293138 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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144802 USD
CY2011Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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120418 USD
CY2013Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5627608 USD
CY2012Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
852834 USD
CY2011Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
860163 USD
CY2012 chhe Income Tax Reconciliation At Federal Statutory Income Tax Rate Foreign Enterprise
IncomeTaxReconciliationAtFederalStatutoryIncomeTaxRateForeignEnterprise
4821069 USD
CY2012Q2 chhe Income Taxes Payable Current
IncomeTaxesPayableCurrent
214414 USD
CY2013Q2 chhe Income Taxes Payable Current
IncomeTaxesPayableCurrent
0 USD
CY2013Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
213317 USD
CY2012Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
208269 USD
CY2011Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
998420 USD
CY2013Q2 chhe City And Supplement Taxes Current
CityAndSupplementTaxesCurrent
25605 USD
CY2012Q2 chhe City And Supplement Taxes Current
CityAndSupplementTaxesCurrent
24996 USD
CY2011Q2 chhe City And Supplement Taxes Current
CityAndSupplementTaxesCurrent
69892 USD
CY2013Q2 us-gaap Accrued Payroll Taxes Current
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6559 USD
CY2012Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
15781 USD
CY2011Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
50046 USD
CY2013 us-gaap Current Income Tax Expense Benefit
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23932 USD
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
4808869 USD
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5924501 USD
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2013 us-gaap Income Tax Reconciliation Tax Exempt Income
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-528991 USD
CY2012 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
19284275 USD
CY2011 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
23598496 USD
CY2013 chhe Income Tax Reconciliation At Federal Statutory Income Tax Rate Foreign Enterprise
IncomeTaxReconciliationAtFederalStatutoryIncomeTaxRateForeignEnterprise
0 USD
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
25763 USD
CY2013Q2 chhe Appropriation To Statutory Public Welfare Fund Percentage
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0.1 pure
CY2013Q2 us-gaap Retained Earnings Appropriated
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38679 USD
CY2012Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
38679 USD
CY2013Q1 us-gaap Operating Expenses
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513543 USD
CY2012Q1 us-gaap Operating Expenses
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738415 USD
CY2012Q1 us-gaap Depreciation And Amortization
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51414 USD
us-gaap Depreciation And Amortization
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47093 USD
CY2011Q2 us-gaap Retained Earnings Appropriated
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38679 USD
CY2013Q2 chhe Reserve Commitment Outstanding
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0 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
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-552923 USD
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14475406 USD
CY2011 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17673995 USD
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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62239737 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62239737 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62239737 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62239737 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62239737 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62239737 shares
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.0089
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.2326
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.2840
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.0089
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.2326
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.2840
CY2013 us-gaap Dilutive Securities
DilutiveSecurities
USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
15337 USD
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
25809 USD
CY2013Q1 us-gaap Construction In Progress Gross
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649626 USD
CY2013Q1 us-gaap Deposits Assets Noncurrent
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0 USD
CY2013Q1 us-gaap Assets
Assets
54166650 USD
CY2013Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
304192 USD
CY2013Q1 us-gaap Due To Related Parties Current
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431405 USD
CY2013Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
240430 USD
CY2013Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
283541 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3442839 USD
CY2012Q2 chhe Reserve Commitment Outstanding
ReserveCommitmentOutstanding
0 USD
CY2011Q2 chhe Reserve Commitment Outstanding
ReserveCommitmentOutstanding
0 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
81975 USD
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
120491 USD
CY2012Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
120152 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
358658 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
360200 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45942099 USD
CY2013Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4631 USD
CY2013Q1 us-gaap Inventory Net
InventoryNet
196620 USD
CY2013Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
24443 USD
CY2013Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
545098 USD
CY2013Q1 us-gaap Assets Current
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46712891 USD
CY2013Q1 chhe Property And Equipment Net Excluding Construction In Progress
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1117077 USD
CY2013Q1 us-gaap Intangible Assets Net Excluding Goodwill
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5687056 USD
CY2013Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1259568 USD
CY2013Q1 us-gaap Common Stock Value
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6224 USD
CY2013Q1 us-gaap Additional Paid In Capital Common Stock
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1462227 USD
CY2013Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
3863744 USD
CY2013Q1 chhe Statutory Reserve
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38679 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
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47536208 USD
CY2013Q1 us-gaap Stockholders Equity
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52907082 USD
CY2013Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
54166650 USD
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2479660 USD
CY2012Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
11250503 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5938862 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
56164111 USD
CY2013Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2305756 USD
CY2012Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
6406449 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
5059918 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
33777650 USD
CY2013Q1 us-gaap Gross Profit
GrossProfit
173904 USD
CY2012Q1 us-gaap Gross Profit
GrossProfit
4844054 USD
us-gaap Gross Profit
GrossProfit
878944 USD
us-gaap Gross Profit
GrossProfit
22386461 USD
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
377999 USD
CY2012Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
566849 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1093578 USD
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2012Q1 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Operating Expenses
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CY2012Q1 us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
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CY2012Q1 us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Use of Estimates</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The preparation of financial statements in conformity with US GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;The Company&#160;bases its estimates and judgments on historical experience and on various other assumptions and information that are believed to be reasonable under the circumstances. Estimates and assumptions of future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. The more significant estimates and assumptions by management include, among others; useful lives and residual value of long-lived assets, valuation of inventory, accounts receivable and notes receivable, impairment analysis of long-lived assets, intangible assets and deferred taxes. While&#160;the Company&#160;believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from those estimates.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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us-gaap Concentration Risk Credit Risk
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Concentrations of Credit Risk</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> All of the Company&#8217;s manufacturing is located in the PRC. There can be no assurance that the Company will be able to successfully continue to manufacture its products and failure to do so would have a material adverse effect on the Company&#8217;s financial position, results of operations and cash flows. Also, the success of the Company&#8217;s operations is subject to numerous contingencies, some of which are beyond management&#8217;s control. These contingencies include general economic conditions, prices of raw materials, competition, governmental and political conditions, and changes in regulations.&#160;Since the Company is dependent on trade in the PRC, the Company is subject to various additional political, economic and other uncertainties. Among other risks, the Company&#8217;s operations will be subject to the risks of restrictions on transfer of funds, domestic and international customs, changing taxation policies, foreign exchange restrictions, and political and governmental regulations.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The Company operates in China, which may give rise to significant foreign currency risks from fluctuations and the degree of volatility of foreign exchange rates between U.S. dollars and the Chinese currency RMB. The results of operations denominated in foreign currency are translated at the average rate of exchange during the reporting period.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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us-gaap Amortization Of Intangible Assets
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us-gaap Lease And Rental Expense
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CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
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us-gaap Depreciation And Amortization
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2011Q4 us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Income Tax Expense Benefit
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2011Q4 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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CY2011Q4 us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
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CY2011Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Depreciation Depletion And Amortization
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us-gaap Increase Decrease In Accounts And Notes Receivable
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us-gaap Increase Decrease In Inventories
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199859 USD
us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments For Construction In Process
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us-gaap Payments For Construction In Process
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Concentrations of Credit Risk</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> All of the Company&#8217;s manufacturing is located in the PRC. There can be no assurance that the Company will be able to successfully continue to manufacture its products and failure to do so would have a material adverse effect on the Company&#8217;s financial position, results of operations and cash flows. Also, the success of the Company&#8217;s operations is subject to numerous contingencies, some of which are beyond management&#8217;s control. These contingencies include general economic conditions, prices of raw materials, competition, governmental and political conditions, and changes in regulations. Since the Company is dependent on trade in the PRC, the Company is subject to various additional political, economic and other uncertainties. Among other risks, the Company&#8217;s operations will be subject to the risks of restrictions on transfer of funds, domestic and international customs, changing taxation policies, foreign exchange restrictions, and political and governmental regulations.</div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The Company operates in China, which may give rise to significant foreign currency risks from fluctuations and the degree of volatility of foreign exchange rates between U.S. dollars and the Chinese currency RMB. The results of operations denominated in foreign currency are translated at the average rate of exchange during the reporting period.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2012Q3 us-gaap Interest Paid
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CY2011Q3 us-gaap Repayments Of Related Party Debt
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CY2012Q3 us-gaap Cash Fdic Insured Amount
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CY2012Q3 us-gaap Use Of Estimates
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Use of Estimates</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The preparation of financial statements in conformity with US GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. China Health bases its estimates and judgments on historical experience and on various other assumptions and information that are believed to be reasonable under the circumstances. Estimates and assumptions of future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. The more significant estimates and assumptions by management include, among others; useful lives and residual value of long-lived assets, valuation of inventory, accounts receivable and notes receivable, impairment analysis of long-lived assets, intangible assets and deferred taxes. While the Company believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual results could differ from those estimates.</div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2012Q3 us-gaap Inventory Finished Goods
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CY2012Q3 us-gaap Concentration Risk Credit Risk
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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Concentrations of Credit Risk</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <font style=" FONT-SIZE: 10pt">All of the Company&#8217;s manufacturing is located in the PRC.&#160;There can be no assurance that the Company will be able to successfully continue to manufacture its products and failure to do so would have a material adverse effect on the Company&#8217;s financial position,</font>&#160;<font style=" FONT-SIZE: 10pt">results of operations and cash flows. Also, the success of the Company&#8217;s operations is subject to numerous contingencies, some of which are beyond management&#8217;s control. These contingencies include general economic conditions, prices of raw materials, competition, governmental and political conditions, and changes in regulations. Since the Company is dependent on trade in the PRC, the Company is subject to various additional political, economic and other uncertainties. Among other risks, the Company&#8217;s operations will be subject to the risks of restrictions on transfer of funds, domestic and international customs, changing taxation policies, foreign exchange restrictions, and political and governmental regulations.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"><font size="2">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <font style=" FONT-SIZE: 10pt">The Company operates in China, which may give rise to significant foreign currency risks from fluctuations and the degree of volatility of foreign exchange rates between U.S. dollars and the Chinese currency RMB.&#160;&#160;The results of operations denominated in foreign currency are translated at the average rate of exchange during the reporting period.</font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2012Q3 us-gaap Amortization Of Intangible Assets
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CY2011Q3 us-gaap Amortization Of Intangible Assets
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CY2012Q3 us-gaap Depreciation
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CY2012Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2012Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2012Q3 us-gaap Lease And Rental Expense
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CY2011Q3 us-gaap Lease And Rental Expense
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3763 USD

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v356401_ex31-2.htm Edgar Link pending
v356401_ex32-1.htm Edgar Link pending