In 2009 they earned $ 0,42 and the BV was $ 1,35. If you read the last press release they are promising better IR and corporate governance. If they promise what they are saying the of $ 1,50 is a bargain.

HARBIN, China, Feb. 8 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheet: RHGP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), announced today that it has filed its annual report on Form 10-K for the fiscal year ended October 31, 2009 on time. In addition, the Company has filed all required quarterly and annual reports and is in compliance again with SEC filing requirements. Renhuang is committed to maintaining its current filer status and to providing investor transparency. The Company expects to report financial results for the first quarter ended January 31, 2010 on or before the filing deadline of March 17.

Renhuang filed its annual report on Form 10-K for the fiscal year ended October 31, 2009 on January 29, 2010. For the full fiscal year 2009, net sales were a record $43.4 million, as compared to $34.5 million for fiscal year 2008. Net income for 2009 was a record $14.8 million, or $0.41 per diluted share, as compared to net income of $10.3 million, or $0.29 per diluted share, for the same period in 2008.

"Regaining our ability to fulfill our filing requirements was an important milestone for Renhuang and demonstrated the Company's commitment to improving our corporate governance," said Mr. Shaoming Li, Renhuang's Chairman and CEO. "I am very proud of our record performance in fiscal 2009 while building momentum for fiscal 2010 and beyond. I look forward to updating the investment community on our growth progress, including plans to upgrade to a senior stock exchange."