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Friday, September 4, 2009

SUMMARY CONSOLIDATED FINANCIAL DATA
 
The following summary of our consolidated statement of income data for the two years ended December 31, 2007 and 2008 and consolidated balance sheet data as of December 31, 2008 and 2007 presented below are derived from our audited consolidated financial statements and related notes thereto. The audited consolidated financial statements and the related notes have been prepared in accordance with U.S. GAAP, and have been audited by AGCA, Inc. (f/k/a Yu and Associates), an independent registered public accounting firm.
 
The consolidated financial statements are reported in U.S. dollar amounts are presented in thousands, except share and per share data. This data should be read in conjunction with our Management's discussion and analysis of financial condition and results of operations and our audited consolidated financial statements and the related notes included elsewhere in this prospectus.

Consolidated Statement of Income Data

In thousand
  
For the Year Ended
December 31,
  
  
2008
  
  
2007
  
             
NET REVENUE
  
$
50,006
    
$
32,677
  
                 
Cost of sales
    
(33,202
)
    
(22,911
)
                 
GROSS PROFIT
    
16,804
      
9,766
  
                 
Selling expenses
    
(700
)
    
(417
)
General and administrative expenses
    
(1,907
)
    
(455
)
                 
Income from operations
    
14,197
      
8,894
  
                 
Other income (expenses):
                
                 
Interest income
    
68
      
16
  
Interest expenses
    
(515
)
    
(97
)
Merger cost
    
(259
)
    
-
  
Other income (expenses), net
    
4
      
-
  
                 
Income before income taxes
    
13,495
      
8,813
  
                 
Provision for income taxes
    
(1,793
)
    
(1,089
)
                 
NET INCOME
    
11,702
      
7,724
  
 
  
  
As of December 31,
  
  
  
2008
  
  
2007
  
Balance Sheet Data:
            
Cash and cash equivalents
  
$
26,041,849
    
$
3,213,649
  
Accounts receivable, net
    
5,042,739
      
5,385,078
  
Buildings, machinery and equipment, net
    
7,440,943
      
5,948,274
  
Total assets
    
56,812,888
      
30,074,626
  
Total Current Liabilities
    
9,020,926
      
10,992,142
  
Total Liabilities
    
9,020,926
      
10,992,142
  
Convertible Preferred Stock
    
12,114,513
      
-
  
Total Shareholders Equity
    
35,677,449
      
19,082,484
  
 

Source: 424b3, May 13, 3009
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