惠普森医药 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31,2024 or ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT 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 ofincorporation or organization)(IRS EmployerIdentification No.) Second Floor, No. 17, Jinpan RoadHaikou,Hainan Province,China570216(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 on whichregistered 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 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the ExchangeAct. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch report(s)), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit and post such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or asmaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by theregistered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during 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 the Exchange Act). Yes☐No ☒ The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to theprice at which the common equity was last sold, or the average bid and ask price of such common equity, as of the last business day ofthe registrant’s most recently completed second fiscal quarter: $4,290,693as of June 30, 2024, based on the closing price of $0.25 ofthe Company’s common stock on such date. The number of outstanding shares of the registrant’s common stock on March 24, 2025, was32,619,109. Documents Incorporated by Reference:None. TABLE OF CONTENTS PART IItem 1.Business.1Item 1A.Risk Factors.21Item 1B.Unresolved Staff Comments.54Item 1C.Cybersecurity54Item 2.Properties.55Item 3.Legal Proceedings.55Item 4.Mine Safety Disclosures.55PART II56Item 5.Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities.56Item 6.[Reserved]56Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.57Item 7A.Quantitative and Qualitative Disclosures about Market Risk.64Item 8.Financial Statements and Supplementary Data.64Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.64Item 9A.Controls and Procedures.65Item 9B.Other Information.66Item 9C.Disclosure Regarding Foreign Jurisdiction that Prevent Inspections.66PART IIIItem 10.Directors, Executive Officers and Corporate Governance.67Item 11.Executive Compensation.69Item 12.Security Ownership of Cert