Biostar Pharmaceuticals, Inc. Reports Record Revenues and Earnings for 2008 Stated income.

Mr. Wang went on to say, "We were also fruitful in initiating a mob of projects which will be in the service of as a endowment for our continued progress in the future. Most recently we received permits to begin construction on a unusual untried materials processing facility.

This is a depreciatory gradation in enabling us to let up our sell for of goods while improving the quality of our products universal forward. We ahead to to reap the benefits from this processing expertness starting by the end of this year, with the future anticipated benefits being very significant." BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2008 2007 Sales, trap $33,910,922 $15,887,486 Cost of sales 14,059,343 5,224,556 Gross earn 19,851,579 10,662,930 Selling, assorted and administrative expenses 12,089,937 5,817,167 Income from operations 7,761,642 4,845,763 Other Income (Expense) Interest gain 2,911 3,492 Interest loss (40,615) (60,292) Other 6 (33) Foreign altercation shrinkage -- (3,970) Total other Income (Expense) (37,698) (60,803) Income before revenue taxes 7,723,944 4,784,960 Provision for return taxes 1,033,402 821,436 Net receipts $6,690,542 $3,963,524 Deemed dividend from supportive conversion perform of Series A preferred goods (1,462,240) -- Net takings relevant to prosaic shareholders $5,228,302 $3,963,524 Net proceeds per prevalent percentage Basic $0.23 $0.20 Diluted $0.22 $0.19 Weighted common average shares payable Basic 22,369,434 20,220,037 Diluted 23,257,470 20,858,278 BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS December 31, December 31, 2008 2007 ASSETS Current Assets Cash and mazuma equivalents $758,316 $2,286,419 Accounts receivable 11,700,841 4,123,135 Inventories 315,745 207,895 Prepaid expenses and other receivables 2,926,505 18,225 Total Current Assets 15,701,407 6,635,674 Property and equipment, take in 5,930,467 6,206,994 Intangible assets, end 7,365,765 7,404,011 Total Assets $28,997,639 $20,246,679 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts receivable and accrued expenses $2,191,976 $537,780 Customer advances 2,592,250 2,412,846 Short-term bank accommodation -- 519,544 Value-added pressurize due 527,103 298,032 Income load owed 413,205 187,089 Total Current Liabilities 5,724,534 3,955,291 Commitment Stockholders' Equity Series A, convertible preferred stock, $0.001 rank value, 5,000,000 shares authorized, 0 and 72,500 shares issued and conspicuous at December 31, 2008 and 2007 -- 725,000 Undesignated preferred stock, $.001 level value, 5,000,000 shares authorized, none issued and memorable -- -- Common stock, $.001 average value, 100,000,000 shares authorized, 23,240,899 shares issued and celebrated at December 31, 2008 and 2007 23,241 22,152 Additional paid-in chief 10,430,168 8,244,017 Statutory reserves 1,585,383 902,113 Retained emolument 10,996,655 6,451,623 Accumulated other exhaustive profit (loss) 237,658 (53,517) Total Stockholders' Equity 23,273,105 16,291,388 Total Liabilities and Stockholders' Equity $28,997,639 $20,246,679 ABOUT BIOSTAR PHARMACEUTICALS, INC.

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