Biostar Pharmaceuticals, Inc. Announces Its Quarterly Results for Three Months Ended September 30, 2016

Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The company uses words and phrases such as "guidance," "forecasted," "projects," "is expected," "remain confident," "will" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements. Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Biostar and described in the forward-looking information contained in this news release. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company's ability to complete the certification renewal process in the time frame currently anticipated, its ability to sustain its sales effort going forward, its ability promptly and effectively to return to the normal production levels, its ability to retain existing and retain new customers for its products, its ability to achieve the projected sales through the efforts of the call center, to complete the contemplated clinical trials and capitalize on such opportunities, the Company's ability to recover its sales and revenue following the repair and maintenance for GMP certification renewal, the state of consumer confidence and market demand or the Company's products, success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our most recent Annual Report on Form 10-K for the year ended December 31, 2015, and other subsequent filings. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.

Investor Relations Contact
Please send questions or comments to:
Biostar Pharmaceuticals, Inc.
Investor Relations Coordinator
+86-29-3368-6638
office@aoxing-group.com
http://www.biostarpharmaceuticals.com

BIOSTAR PHARMACEUTICALS, INC
CONDENSED CONSOLIDATED BALANCE SHEETS
	September 30,			December 31,
	2016			2015
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	659,359		$	38,898
Accounts receivable, net		6,094,197			15,814,880
Inventories		439,596			234,660
Deposits and other receivables		2,525			2,591
Income tax recoverable		74,253			76,280
Loan receivables, net		-			-
Value-added tax recoverable		22,559			-
Total Current Assets		7,292,489			16,167,309
Non-current Assets
Deposits		15,672,054			16,099,958
Deferred tax assets, net		5,262,895			5,406,593
Property and equipment, net		6,270,436			6,810,933
Intangible assets, net		6,061,546			6,878,787
Total Non-Current Assets		33,266,931			35,196,271
Total Assets	$	40,559,420		$	51,363,580
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts and other payables	$	4,097,856		$	4,153,411
Short-term bank loans		2,422,213			2,773,199
Value-added tax payable		-			112,629
Warrants liability		12,703			59,202
Total Current Liabilities		6,532,772			7,098,441
Commitment and contingencies
Stockholders' Equity
Common stock, $0.001 par value, 100,000,000 shares authorized, 2,210,913 shares issued and outstanding as of September 30, 2016 and December 31, 2015		2,210			2,210
Additional paid-in capital		30,316,774			30,316,774
Statutory reserve		7,354,413			7,354,413
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