3SBio Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. Total net revenues in the fourth quarter of 2011 increased by 38.2% to RMB 139.9 million compared to RMB 101.2 million in the fourth quarter of 2010. GAAP operating income in the fourth quarter of 2011 increased by 563.2% to RMB 26.0 million, compared to GAAP operating income of RMB 3.9 million in the fourth quarter of 2010. Non-GAAP operating income increased by 87.5% to RMB 26.0 million compared to non-GAAP operating income of RMB 13.9 million in the fourth quarter of 2010. GAAP net income attributable to 3SBio Inc. in the fourth quarter of 2011 increased by 234.1% to RMB 22.3 million, compared to GAAP net income attributable to 3SBio Inc. of RMB 6.7 million in the fourth quarter of 2010. Non-GAAP net income attributable to 3SBio Inc. in the fourth quarter of 2011 increased by 34.3% to RMB 22.3 million compared to non-GAAP net income of RMB 16.6 million in the fourth quarter of 2010. GAAP net income attributable to 3SBio Inc. per ADS on a fully-diluted basis in the fourth quarter of 2011 was RMB 0.99 compared to a GAAP net income attributable to 3SBio Inc. per ADS on a fully-diluted basis of RMB 0.30 for the fourth quarter of 2010. Non-GAAP net income attributable to 3SBio Inc. per ADS on a fully-diluted basis in the fourth quarter of 2011 was RMB 0.99 compared to non-GAAP net income attributable to 3SBio Inc. per ADS on a fully-diluted basis of RMB 0.74 in the fourth quarter of 2010. Income before income tax expense was RMB 28.396 million against RMB 9.667 million a year ago. For the year, the company reported total net revenues in 2011 increased by 29.4% to RMB 541.6 million compared to RMB 418.6 million in 2010. GAAP operating income in 2011 increased by 38.3% to RMB 120.1 million compared to RMB 86.8 million in 2010. Non-GAAP operating income in 2011 increased by 24.0% to RMB 120.1 million compared to RMB 96.8 million in 2010. GAAP net income attributable to 3SBio Inc. increased by 33.6% to RMB 108.6 million, compared to RMB 81.3 million in 2010. Non-GAAP net income attributable to 3SBio Inc. increased by 19.0% to RMB 108.6 million, compared to RMB 91.2 million in 2010. GAAP net income attributable to 3SBio Inc. per American Depositary Share on a fully-diluted basis was RMB 4.84 compared to RMB 3.69 in 2010. Non-GAAP net income attributable to 3SBio Inc. per ADS on a fully-diluted basis in 2011 was RMB 4.84 compared to RMB 4.14 in 2010. Income before income tax expense was RMB 136.370 million against RMB 103.058 million a year ago. The company expects 2012 net revenue growth in the range of 15%-25%, or between $99 million and $108 million.