China Pharma Holdings, Inc. (CPHI) stock soared 0.019% in the after-hours trading session at the price of $0.53 despite no fundamental reason. The last reported news on the company’s website was its second quarter of 2021 financial results. CPHI is a leading pharmaceutical company that produces and commercializes a broad range of products to treat cardiovascular, CNS, infectious, and digestive diseases. 

CPHI Second Quarter 2021 Financial Results 

On 13th August 2021, CPHI published the financial results for the second quarter ended on 30th June 2021. CEO of CPHI, Ms. Zhilin Li, remarked that they continued to concentrate on the evaluation of their currently listed products. Their hypertensive drug Candesartan has passed the bioequivalence assessment. They have already submitted the application and documents to the National Medical Products Administration (NMPA), he added.  

As the number of COVID-19 cases rising, they have strengthened the manufacturing and sale of the pandemic prevention goods, such as medical-surgical masks. They are optimistic about the CPHI’s growth, given the robust foundation of their business and market. There are considerable opportunities in front of them. They are working to expedite the potential in specialty pharma and Traditional Chinese Medicine (TCM), he concluded. 

Second Quarter 2021 Financial Highlights 

For the three months ended 30th June 2021, CPHI reported a revenue drop of 35.9% to $2.4 million. The revenue was $3.8 million for the three months ended on 30th June 2020. Net loss was $0.8 million, or $0.02 per basic and diluted share, for the second quarter ended 30th June 2021.  The net income was $0.01 million, or $0.00 per basic and diluted per share, in the same period of 2020. This drop in revenue and net income resulted from a foreign trade of COVID-19 testers that contributed $1.7 million during the second quarter of 2020. 

First-Half 2021 Earnings Report 

For the six months ended 30th June 2021, revenue was $4.8 million. CPHI reported revenue of $5.5 million for the six months ended 30th June 2020. Net loss was $1.6 million for the six months ended on 30th June 2021. The net loss of $0.6 million, reported for the six months of the previous year. In the first half of 2021, the lower financial performance resulted from the one-time trade of COVID-19 testers. As of 10th July 2021, the company had fully repaid the eight-year construction loan facility of RMB 80 million (approximately $12.4 million).