惠普森医药 2023年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from _________ to _____________ Commission file number: 001-34471 China Pharma Holdings, Inc.(Exact name of registrant as specified in its charter) Nevada73-1564807(State or other jurisdiction of(IRS Employer Second Floor, No. 17, Jinpan RoadHaikou, Hainan Province, China 570216(Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including the area code:(011) 86 898-6681-1730 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange onwhich registered Securities registered pursuant to Section 12(g) of the Act:None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 ofthe Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 orSection 15(d) of the Exchange Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed bySection 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for suchshorter period that the registrant was required to file such report(s)), and (2) has been subject to such filingrequirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive DataFile required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit and post suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-acceleratedfiler or a smaller reporting company.See definitions of“large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Large acceleratedfiler☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards providedpursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to itsmanagement’s assessment of the effectiveness of its internal control over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whetherthe financial statements of the registrant included in the filing reflect the correction of an error to previouslyissued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required arecovery analysis of incentive-based compensation received by any of the registrant’s executive officersduring the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theExchange Act). Yes☐No☒ The aggregate market value of the voting and non-voting common equity held by non-affiliatescomputed by reference to the price at which the common equity was last sold, or the average bid and askprice of such common equity, as of the last business day of the registrant’s most recently completed secondfiscal quarter: $3,896,941 as of June 30, 2023, based on the closing price of $1.7055 of the Company’scommon stock on such date. The number of outstanding shares of the registrant’s common stock on March 24, 2024, was14,816,865. Documents Incorporated by Reference: None. FORM 10-K ANNUAL REPORTFISCAL YEAR ENDED DECEMBER 31, 2023 TABLE OF CONTENTS PAGE PART I1Item 1.Business.1Item1A.Risk Factors.17Item1B.Unresolved Staff Comments.45Item1C.Cybersecurity45Item 2.Properties.46Item 3.Legal Proceedings.46Item 4.Mine Safety Disclosures.46PARTII47Item 5.Market for the Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities.47Item 6.[Reserved]47Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.48Item7A.Quantitative and Qualitative Disclosures about Market Risk.55Item 8.Financial Statements and Supplementary Data.55Item 9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure.55Item9A.Controls and Procedures.55Item9B.Other Information.56Item9C.Disclosure Regarding Foreign Jurisdiction that Prevent Inspections.56 PARTIII57Item 10.Directors, Executive Officers and Corporate Governance.57Item 11.Executive Compensation.60Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholders Ma