Lotus Pharmaceuticals Inc., based in Beijing, China is a dynamic comprehensive enterprise, which is engaged in the production, trade and retailing of pharmaceuticals. Lotus develops high quality, low cost generic medication and other OTC brands.
On April 17, 2007, Lotus released its 2006 Annual Report, audited by a New York-based public accounting firm. The report revealed $36 million in revenues, $4.1 milion in net profits, and $20.6 in assets. The complete Form 10-KSB may be viewed under SEC filings.
Praising the Company's performance, CEO Dr. Liu Zhongyi expressed: "We firmly believe our existing operations can realize organic growth of 20 percent per year for the coming years. In addition, through complementary acquisitions, we expect to achieve aggregate yearly revenues in excess of $140 million. With expected profit margins of 12-15 percent, after planned acquisitions, Lotus would be on the fast track to leverage the synergy inherent in our enhanced operations. Achieving these objectives should place Lotus amongst the top 100 pharmaceutical companies in China."
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