Schedule 13G
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
China Biologic Products, Inc.
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(Name of Issuer)
Common Stock, par value $0.0001 per share
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(Title of Class of Securities)
16938C106
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(CUSIP Number)
September 27, 2006
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act, but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 16938C106 -
----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Jayhawk Private Equity Fund, L.P. (20-5004931)
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ X ]
(See Instructions)
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------- ----- ----------------------------------------------
- 5 SOLE VOTING POWER
- 0
NUMBER OF - ----- ----------------------------------------------
SHARES - 6 SHARED VOTING POWER
BENEFICIALLY - 1,861,208
OWNED BY EACH - ----- ----------------------------------------------
REPORTING - 7 SOLE DISPOSITIVE POWER
PERSON - 0
WITH: - ----- ----------------------------------------------
- 8 SHARED DISPOSITIVE POWER
- 1,861,208
--------------------------- ----- ----------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,861,208 * (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES (See Instructions)
Not Applicable
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.2%**
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
---------- ---------------------------------------------------------------------
* Includes 1,488,872 shares of common stock, par value $0.0001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.
** Based on 22,718,942 outstanding shares of common stock, par value $0.0001 per
share, as reported by China Biologic Products, Inc. on its Form SB-2/A filed
with the Securities and Exchange Commission on December 28, 2007.
1
----------------------------
CUSIP No. 16938C106 -
----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Jayhawk Private Equity Co-Invest Fund, L.P. (20-5249125)
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ X ]
(See Instructions)
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------- ----- ----------------------------------------------
- 5 SOLE VOTING POWER
- 0
NUMBER OF - ----- ----------------------------------------------
SHARES - 6 SHARED VOTING POWER
BENEFICIALLY - 117,185
OWNED BY EACH - ----- ----------------------------------------------
REPORTING - 7 SOLE DISPOSITIVE POWER
PERSON - 0
WITH: - ----- ----------------------------------------------
- 8 SHARED DISPOSITIVE POWER
- 117,185
--------------------------- ----- ----------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
117,185* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES (See Instructions)
Not Applicable
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.5%**
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
---------- ---------------------------------------------------------------------
* Includes 93,742 shares of common stock, par value $0.0001 per share, and
23,443 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.
** Based on 22,718,942 outstanding shares of common stock, par value $0.0001 per
share, as reported by China Biologic Products, Inc. on its Form SB-2/A filed
with the Securities and Exchange Commission on December 28, 2007.
2
----------------------------
CUSIP No. 16938C106 -
----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Jayhawk Private Equity GP, L.P. (20-5005219)
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ X ]
(See Instructions)
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------- ----- ----------------------------------------------
- 5 SOLE VOTING POWER
- 0
NUMBER OF - ----- ----------------------------------------------
SHARES - 6 SHARED VOTING POWER
BENEFICIALLY - 1,978,393
OWNED BY EACH - ----- ----------------------------------------------
REPORTING - 7 SOLE DISPOSITIVE POWER
PERSON - 0
WITH: - ----- ----------------------------------------------
- 8 SHARED DISPOSITIVE POWER
- 1,978,393
--------------------------- ----- ----------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,978,393* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES (See Instructions)
Not Applicable
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%**
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
---------- ---------------------------------------------------------------------
* Includes 1,488,872 shares of common stock, par value $0.0001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report held by the Jayhawk Private Equity Fund, L.P. and
93,742 shares of common stock, par value $0.0001 per share, and 23,443 warrants
to purchase common stock that are exercisable within 60 days of the filing of
this report held by the Jayhawk Private Equity Co-Invest Fund, L.P.
** Based on 22,718,942 outstanding shares of common stock, par value $0.0001 per
share, as reported by China Biologic Products, Inc. on its Form SB-2/A filed
with the Securities and Exchange Commission on December 28, 2007.
3
----------------------------
CUSIP No. 16938C106 -
----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Jayhawk Capital Management, L.L.C. (48-1172612)
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ X ]
(See Instructions)
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------- ----- ----------------------------------------------
- 5 SOLE VOTING POWER
- 0
NUMBER OF - ----- ----------------------------------------------
SHARES - 6 SHARED VOTING POWER
BENEFICIALLY - 1,978,393
OWNED BY EACH - ----- ----------------------------------------------
REPORTING - 7 SOLE DISPOSITIVE POWER
PERSON - 0
WITH: - ----- ----------------------------------------------
- 8 SHARED DISPOSITIVE POWER
- 1,978,393
--------------------------- ----- ----------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,978,393* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES (See Instructions)
Not Applicable
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%**
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
---------- ---------------------------------------------------------------------
* Includes 1,488,872 shares of common stock, par value $0.0001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report held by the Jayhawk Private Equity Fund, L.P. and
93,742 shares of common stock, par value $0.0001 per share, and 23,443 warrants
to purchase common stock that are exercisable within 60 days of the filing of
this report held by the Jayhawk Private Equity Co-Invest Fund, L.P.
4
** Based on 22,718,942 outstanding shares of common stock, par value $0.0001 per
share, as reported by China Biologic Products, Inc. on its Form SB-2/A filed
with the Securities and Exchange Commission on December 28, 2007.
----------------------------
CUSIP No. 16938C106 -
----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Kent C. McCarthy
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ X ]
(See Instructions)
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------- ----- ----------------------------------------------
- 5 SOLE VOTING POWER
- 0
NUMBER OF - ----- ----------------------------------------------
SHARES - 6 SHARED VOTING POWER
BENEFICIALLY - 1,978,393
OWNED BY EACH - ----- ----------------------------------------------
REPORTING - 7 SOLE DISPOSITIVE POWER
PERSON - 0
WITH: - ----- ----------------------------------------------
- 8 SHARED DISPOSITIVE POWER
- 1,978,393
--------------------------- ----- ----------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,978,393* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES (See Instructions)
Not Applicable
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.7%**
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
---------- ---------------------------------------------------------------------
* Includes 1,488,872 shares of common stock, par value $0.0001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report held by the Jayhawk Private Equity Fund, L.P. and
93,742 shares of common stock, par value $0.0001 per share, and 23,443 warrants
to purchase common stock that are exercisable within 60 days of the filing of
this report held by the Jayhawk Private Equity Co-Invest Fund, L.P.
5
** Based on 22,718,942 outstanding shares of common stock, par value $0.0001 per
share, as reported by China Biologic Products, Inc. on its Form SB-2/A filed
with the Securities and Exchange Commission on December 28, 2007.
Item 1(a) Name of Issuer:
China Biologic Products, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
No. 14 East Hushan Road
Taian City, Shandong
P.R.C., 271000
Item 2(a) Name of Person Filing:
This Schedule 13G is being jointly filed by Kent C. McCarthy ("Mr.
McCarthy"), Jayhawk Capital Management, L.L.C., a Delaware limited liability
company ("JCM"), Jayhawk Private Equity GP, L.P., a Delaware limited partnership
("JPEGP"), Jayhawk Private Equity Fund, L.P., a Delaware limited partnership
("JPEF"), and Jayhawk Private Equity Co-Invest Fund, L.P., a Delaware limited
partnership ("JPECF")
Mr. McCarthy, JCM, JPEGP, JPEF, and JPECF have entered into an Agreement
Regarding Joint Filing of 13G (the "Agreement") pursuant to which Mr. McCarthy,
JCM, JPEGP, JPEF, and JPECF have agreed to file this 13G jointly and in
accordance with the provisions of Rule 13d-1(k)(1) of the Securities Exchange
Act of 1934, as amended (the "Act"). A copy of the Agreement is attached hereto
as Exhibit A.
Item 2(b) Address of Principal Business Office or, if None, Residence:
The principal business address of Mr. McCarthy, JCM, JPEGP, JPEF, and JPECF
is 5410 West 61st Place, Suite 100, Mission, Kansas 66205.
Item 2(c) Citizenship:
Mr. McCarthy is a citizen of the Unites States of America, JCM is a
Delaware limited liability company, JPEGP is a Delaware limited partnership,
JPEF is a Delaware limited partnership, and JPECF is a Delaware limited
partnership.
Item 2(d) Title of Class of Securities:
Common Stock, par value $0.0001 per share
Item 2(e) CUSIP Number:
16938C106
Item 3 The Reporting Person is:
Not Applicable
6
Item 4 Ownership:
Mr. McCarthy is the manager of and controls JCM. JCM is the general partner
of JPEGP and as a result controls JPEGP. JPEGP is the general partner of JPEF.
and as a result controls JPEF. JPEGP is the general partner of JPECF and as a
result controls JPECF. Therefore, Mr. McCarthy, JCM, and JPEGP are deemed to be
beneficial owners under Rule 13d-3 of the Securities Exchange Act of 1934 of the
securities owned of record by JPEF and JPECF and have reported that they share
voting power and dispositive power over such securities.
I. The information below is as of the date of this filing.
(a) Amount beneficially owned:
1. Jayhawk Private Equity Fund, L.P.: 1,861,208 *
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 117,185 **
3. Jayhawk Private Equity GP, L.P.: 1,978,393 ***
4. Jayhawk Capital Management, L.L.C.: 1,978,393 ***
5. Kent C. McCarthy: 1,978,393 ***
(b) Percent of class:
1. Jayhawk Private Equity Fund, L.P.: 8.2%
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0.5%
3. Jayhawk Private Equity GP, L.P.: 8.7%
4. Jayhawk Capital Management, L.L.C.: 8.7%
5. Kent C. McCarthy: 8.7%
Percent of class is based on 22,718,942 outstanding shares of common stock, par
value $0.0001 per share, as reported by China Biologic Products, Inc. on its
Form SB-2/A filed with the Securities and Exchange Commission on December 28,
2007.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1. Jayhawk Private Equity Fund, L.P.: 0
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0
3. Jayhawk Private Equity GP, L.P.: 0
4. Jayhawk Capital Management, L.L.C.: 0
5. Kent C. McCarthy: 0
(ii) Shared power to vote or direct the vote:
1. Jayhawk Private Equity Fund, L.P.: 1,861,208 *
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 117,185 **
3. Jayhawk Private Equity GP, L.P.: 1,978,393 ***
4. Jayhawk Capital Management, L.L.C.: 1,978,393 ***
5. Kent C. McCarthy: 1,978,393 ***
(iii) Sole power to dispose or to direct the disposition of:
1. Jayhawk Private Equity Fund, L.P.: 0
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0
3. Jayhawk Private Equity GP, L.P.: 0
4. Jayhawk Capital Management, L.L.C.: 0
5. Kent C. McCarthy: 0
7
(iv) Shared power to dispose or to direct the disposition of:
1. Jayhawk Private Equity Fund, L.P.: 1,861,208 *
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 117,185 **
3. Jayhawk Private Equity GP, L.P.: 1,978,393 ***
4. Jayhawk Capital Management, L.L.C.: 1,978,393 ***
5. Kent C. McCarthy: 1,978,393 ***
* Includes 1,488,872 shares of common stock, par value $0.001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.
** Includes 93,742 shares of common stock, par value $0.001 per share, and
23,443 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.
*** Includes 1,488,872 shares of common stock, par value $0.001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report held by the Jayhawk Private Equity Fund, L.P. and
93,742 shares of common stock, par value $0.001 per share, and 23,443 warrants
to purchase common stock that are exercisable within 60 days of the filing of
this report held by the Jayhawk Private Equity Co-Invest Fund, L.P.
II. The information below is as of December 31, 2007 and as of September 27,
2006, the date of the event which requires filing this statement.
(a) Amount beneficially owned:
1. Jayhawk Private Equity Fund, L.P.: 1,861,678 *
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 117,175 **
3. Jayhawk Private Equity GP, L.P.: 1,978,893 ***
4. Jayhawk Capital Management, L.L.C.: 1,978,893 ***
5. Kent C. McCarthy: 1,978,893 ***
(b) Percent of class:
1. Jayhawk Private Equity Fund, L.P.: 8.2%
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0.5%
3. Jayhawk Private Equity GP, L.P.: 8.7%
4. Jayhawk Capital Management, L.L.C.: 8.7%
5. Kent C. McCarthy: 8.7%
Percent of class is based on 22,718,942 outstanding shares of common stock, par
value $0.0001 per share, as reported by China Biologic Products, Inc. on its
Form SB-2/A filed with the Securities and Exchange Commission on December 28,
2007.
(c) Number of shares as to which the person has:
(ii) Sole power to vote or to direct the vote:
1. Jayhawk Private Equity Fund, L.P.: 0
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0
3. Jayhawk Private Equity GP, L.P.: 0
4. Jayhawk Capital Management, L.L.C.: 0
5. Kent C. McCarthy: 0
8
(ii) Shared power to vote or direct the vote:
1. Jayhawk Private Equity Fund, L.P.: 1,861,678 *
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 117,175 **
3. Jayhawk Private Equity GP, L.P.: 1,978,893 ***
4. Jayhawk Capital Management, L.L.C.: 1,978,893 ***
5. Kent C. McCarthy: 1,978,893 ***
(iii) Sole power to dispose or to direct the disposition of:
1. Jayhawk Private Equity Fund, L.P.: 0
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0
3. Jayhawk Private Equity GP, L.P.: 0
4. Jayhawk Capital Management, L.L.C.: 0
5. Kent C. McCarthy: 0
(iv) Shared power to dispose or to direct the disposition of:
1. Jayhawk Private Equity Fund, L.P.: 1,861,678 *
2. Jayhawk Private Equity Co-Invest Fund, L.P.: 117,275 **
3. Jayhawk Private Equity GP, L.P.: 1,978,893 ***
4. Jayhawk Capital Management, L.L.C.: 1,978,893 ***
5. Kent C. McCarthy: 1,978,893 ***
* Includes 1,489,342 shares of common stock, par value $0.001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.
** Includes 93,772 shares of common stock, par value $0.001 per share, and
23,443 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.
*** Includes 1,489,342 shares of common stock, par value $0.001 per share, and
372,336 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report held by the Jayhawk Private Equity Fund, L.P. and
93,772 shares of common stock, par value $0.001 per share, and 23,443 warrants
to purchase common stock that are exercisable within 60 days of the filing of
this report held by the Jayhawk Private Equity Co-Invest Fund, L.P.
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
See response to Item 4 above.
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 Certification:
By signing below each party certifies that, to the best of its knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
9
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the
parties below certify that the information set forth in this statement is true,
complete and correct.
Dated: February 14, 2008
/s/ Kent C. McCarthy
----------------------------------------
Kent C. McCarthy
Jayhawk Capital Management, L.L.C.
By: /s/ Kent C. McCarthy
----------------------------------------
Name: Kent C. McCarthy
--------------------------------------
Title: Managing Member
-------------------------------------
Jayhawk Private Equity GP, L.P.
By: Jayhawk Capital Management, L.L.C.,
Its general partner
By: /s/ Kent C. McCarthy
-------------------------------
Name: Kent C. McCarthy
-----------------------------
Title: Managing Member
----------------------------
Jayhawk Private Equity Fund, L.P.
By: Jayhawk Private Equity GP, L.P.
Its general partner
By: /s/ Kent C. McCarthy
-------------------------------
Name: Kent C. McCarthy
-----------------------------
Title: Managing Member of Jayhawk
Capital Management, LLC, the
General Partner of Jayhawk
Private Equity GP, L.P.
-----------------------------
Jayhawk Private Equity Co-Invest Fund, L.P.
By: Jayhawk Private Equity GP, L.P.
Its general partner
By: /s/ Kent C. McCarthy
-------------------------------
Name: Kent C. McCarthy
-----------------------------
Title: Managing Member of Jayhawk
Capital Management, LLC, the
General Partner of Jayhawk
Private Equity GP, L.P.
----------------------------
10
Exhibit A
AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
as amended, the undersigned agree to the joint filing on behalf of each of them
of a statement on Schedule 13G (including amendments thereto) with respect to
the Common Stock, par value $0.001 per share, of China Biologic Products, Inc.,
and further agree that this Agreement be included as an exhibit to such filings.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 14th day of February, 2008.
/s/ Kent C. McCarthy
----------------------------------------
Kent C. McCarthy
Jayhawk Capital Management, L.L.C.
By: /s/ Kent C. McCarthy
----------------------------------------
Name: Kent C. McCarthy
--------------------------------------
Title: Managing Member
-------------------------------------
Jayhawk Private Equity GP, L.P.
By: Jayhawk Capital Management, L.L.C.,
Its general partner
By: /s/ Kent C. McCarthy
-------------------------------
Name: Kent C. McCarthy
-----------------------------
Title: Managing Member
----------------------------
Jayhawk Private Equity Fund, L.P.
By: Jayhawk Private Equity GP, L.P.
Its general partner
By: /s/ Kent C. McCarthy
-------------------------------
Name: Kent C. McCarthy
-----------------------------
Title: Managing Member of Jayhawk
Capital Management, LLC, the
General Partner of Jayhawk
Private Equity GP, L.P.
-----------------------------
Jayhawk Private Equity Co-Invest Fund, L.P.
By: Jayhawk Private Equity GP, L.P.
Its general partner
By: /s/ Kent C. McCarthy
-------------------------------
Name: Kent C. McCarthy
-----------------------------
Title: Managing Member of Jayhawk
Capital Management, LLC, the
General Partner of Jayhawk
Private Equity GP, L.P.
----------------------------