Yew Bio-Pharm Group, Inc.

CIK:0001548240|SEC Filings

Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
REVENUES:
Revenues		$ 498,346	$ 6,804,702	$ 679,844
Revenues - related parties	110,106	9,856,869	16,886,287	21,266,710
Total Revenues	110,106	10,355,215	23,690,989	21,946,554
COST OF REVENUES:
Cost of revenues	2,814	463,359	6,948,445	845,929
Cost of revenues - related parties	947,360	8,366,498	16,853,667	17,847,629
Total Cost of Revenues	950,174	8,829,857	23,802,112	18,693,558
GROSS (LOSS) PROFIT	(840,068)	1,525,358	(111,123)	3,252,996
OPERATING EXPENSES:
Selling, general and administrative	211,640	203,561	693,698	720,505
Bad debt expense (recovery)	506,560	(172,381)	(1,782,619)	24,425
Total Operating Expenses	718,200	31,180	(1,088,921)	744,930
(LOSS) INCOME FROM OPERATIONS	(1,558,268)	1,494,178	977,798	2,508,066
OTHER INCOME (EXPENSES):
Interest expense	(132,525)	(125,615)	(395,989)	(361,209)
Other income	44,600	27,235	226,204	40,652
Exchange gains	87,499	(372,672)	(479)	(275,404)
Total Other Expenses	(426)	(471,052)	(170,264)	(595,961)
(LOSS) INCOME BEFORE PROVISION FOR INCOME TAXES	(1,558,694)	1,023,126	807,534	1,912,105
PROVISION FOR INCOME TAXES		(27,152)	(1,859)	(27,152)
NET (LOSS) INCOME	(1,558,694)	995,974	805,675	1,884,953
Less: net (loss) attributable to noncontrolling interest	(8,246)		(17,238)
NET (LOSS) INCOME ATTRIBUTABLE TO YEW BIO-PHARM GROUP, INC	(1,550,448)	995,974	822,913	1,884,953
COMPREHENSIVE INCOME (LOSS):
NET (LOSS) INCOME	(1,558,694)	995,974	805,675	1,884,953
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment	39,056	1,671,103	510,185	957,348
COMPREHENSIVE (LOSS) INCOME	(1,519,638)	2,667,077	1,315,860	2,842,301
Less: comprehensive (loss) attributable to non-controlling interest	(323)		(328)
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO YEW BIO-PHARM GROUP, INC	$ (1,519,315)	$ 2,667,077	$ 1,316,188	$ 2,842,301
NET (LOSS) INCOME PER COMMON SHARE:
Basic and diluted	$ (0.03)	$ 0.02	$ 0.02	$ 0.04
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic and diluted	51,700,000	51,700,000	51,700,000	51,700,000

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 805,675	$ 1,884,953
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt (recovery) expense	(1,782,619)	24,425
Depreciation	51,461	40,363
Loss on disposal of property and equipment	18,068
Inventory (recovery) reserve	(97,741)	338,912
Amortization of land use rights and yew forest assets	2,034,989	2,045,199
Sale of yew forest assets as inventory	7,999,712	8,769,387
Changes in operating assets and liabilities:
Accounts receivable	(2,473,767)	5,602,258
Accounts receivable - related parties	64,407	(6,816,982)
Other current assets	(45,269)	(20,159)
Inventories	141,974	94,847
VAT input credit	3,835	(9,332)
Accounts payable	50,090	(55,418)
Accounts payable - related parties		(16,746)
Accrued expenses and other payables	168,787	(41,068)
Advance from customer		129,025
Due to related parties	35,664	21,583
Long-term deferred income	(44,412)	219,371
NET CASH PROVIDED BY OPERATING ACTIVITIES	6,930,855	12,210,618
CASH FLOWS FROM INVESTING ACTIVITIES:
Prepayments made to related parties for purchase of yew forest assets	4,776,110
Purchase of property and equipment	(198,767)	(152,531)
Purchase of yew forest assets	(12,599,300)	(10,934,655)
Government grants compensated for afforestation	665,559
NET CASH USED IN INVESTING ACTIVITIES	(7,356,398)	(11,087,186)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term borrowings	10,505,897	10,420,110
Repayments of short-term borrowings	(10,532,173)	(10,920,492)
Proceeds from government loans		79,920
Proceeds from related parties	105,990	2,457
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	79,714	(418,005)
EFFECT OF EXCHANGE RATE ON CASH	(189,509)	(223,428)
NET (DECREASE) INCREASE IN CASH	(535,339)	481,999
CASH - Beginning of the year	563,792	742,294
CASH - End of the year	28,453	1,224,293
Cash paid for:
Interest	254,504	359,483
Income taxes		27,152
NON-CASH INVESTING AND FINANCING ACTIVITIES
Operating expense paid by related party		$ 434

Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash	$ 28,453	$ 563,792
Accounts receivable	2,704,268	217,689
Accounts receivable - related parties, net	10,893,076	9,045,669
Inventories, net	123,043	14,608
Other receivables	131,245	90,989
VAT input credit	53,556	56,637
Total Current Assets	13,933,641	9,989,384
LONG-TERM ASSETS:
Long-term inventories, net	642,212	784,784
Property and equipment, net	534,205	516,921
Land use rights and yew forest assets, net	45,736,790	41,952,483
Long-term advance for yew forest assets	131,555	15,415
Long-term advance for yew forest assets - related parties	125,834	4,854,273
Operating lease right-of-use assets	292,605	333,402
Total Long-term Assets	47,463,201	48,457,278
Total Assets	61,396,842	58,446,662
CURRENT LIABILITIES:
Accounts payable	791,404	423,881
Accounts payable - related parties	325,824
Tax payable	1,088,287	115,327
Due to related parties	794,471	651,360
Short-term borrowings	9,012,290	8,979,899
Other current liabilities	531,784	354,643
Total Current Liabilities	12,544,060	10,525,110
NONCURRENT LIABILITIES:
Taxes payable		973,647
Deferred income, noncurrent	1,812,341	1,172,928
Operating lease liabilities, noncurrent	242,341	292,409
Total Noncurrent Liabilities	2,054,682	2,438,984
Total Liabilities	14,598,742	12,964,094
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Common Stock: $0.001 par value; 140,000,000 shares authorized; 51,700,000 shares issued and outstanding at September 30, 2021 and December 31, 2020	51,700	51,700
Additional paid-in capital	9,644,731	9,644,731
Retained earnings	32,238,518	31,415,605
Statutory reserves	3,762,288	3,762,288
Accumulated other comprehensive income	1,118,429	608,244
Total Yew Bio-Pharm Group, Inc Shareholders’ Equity	46,815,666	45,482,568
Noncontrolling interest	(17,566)
Total Equity	46,798,100	45,482,568
Total Liabilities and Shareholders’ Equity	$ 61,396,842	$ 58,446,662