SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of ~~November~~March ~~2011~~2012

Commission File Number 001-33535

China Kanghui Holdings

(Translation of Registrant’s Name Into English)

No.1-8 Tianshan Road, Xinbei District

Changzhou, Jiangsu Province 213022, People’s Republic of China

(86-519) 8519-5556

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes ¨ No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


China Kanghui Holdings

By:		/S/ JUNWEN WANG
Name:		Junwen Wang
Title:		Chief Financial Officer

Date: ~~November~~March 919, ~~2011~~2012

China Kanghui Holdings Reports ~~Third~~Fourth Quarter and Full Year 2011 Financial Results

4Q11 Net Revenue Increased 2633.96% Year-Over-Year

~~Gross~~4Q11 ~~Profit~~Net Income Increased 2853.08% Year-Over-Year

~~CHANGZHOU,~~Full ~~November 9,~~Year 2011 –Net ~~China Kanghui~~Revenue ~~Holdings~~Increased (NYSE: KH) (“Kanghui” or the “Company”), a leading domestic developer, manufacturer and marketer of orthopedic implants in China, today announced financial results for the third quarter of 201134.7% Year-Over-Year

~~Third~~Full ~~Quarter~~ Year 2011 ~~Highlights~~Net Income Increased 21.5% Year-Over-Tear

•CHANGZHOU, ~~Total~~March 19, ~~net~~2012 ~~revenue~~– ~~for~~China ~~the~~Kanghui ~~third~~Holdings ~~quarter~~(NYSE: ofKH) (“Kanghui” ~~2011~~or ~~increased~~the by“Company”), ~~26.9%~~a ~~year-over-year~~leading todomestic ~~RMB80.7~~developer, ~~million~~manufacturer ~~from~~and ~~RMB63.6~~marketer ~~million~~of orthopedic implants in ~~the~~China, ~~corresponding~~today ~~period~~announced ofits unaudited financial results for the ~~prior~~fourth quarter and full year 2011.

•Fourth ~~Gross~~Quarter ~~profit for the third quarter of~~ 2011 ~~increased~~Highlights ~~by 28.0% year-over-year to RMB58.5 million from RMB45.7 million in the corresponding period of the prior year~~

• ~~Operating~~Total ~~income~~net revenue for the ~~third~~fourth quarter of 2011 increased by 1233.36% year-over-year to ~~RMB36~~RMB96.46 million from 32RMB72.43 million in the corresponding period of the prior year.

• ~~Net~~Gross ~~income~~profit for the ~~third~~fourth quarter of 2011 increased by 832.63% year-over-year to ~~RMB28~~RMB69.92 million from ~~RMB26~~RMB52.63 million in the corresponding period of the prior year.

• ~~Non-GAAP1~~Operating ~~net~~ income for the ~~third~~fourth quarter of 2011 increased by 1117.0% year-over-year to ~~RMB31~~RMB35.38 million from ~~RMB28~~RMB30.26 million in the corresponding period of the prior year.

1• ~~All~~Net ~~non-GAAP~~income ~~measures~~for ~~exclude~~the ~~share-based~~fourth ~~compensation~~quarter ~~expenses.~~of ~~For~~2011 ~~further~~increased ~~details~~by on53.8% ~~non~~year-~~GAAP~~over-year ~~measures, please refer~~ to ~~the~~RMB42.3million ~~reconciliation~~from ~~tables~~RMB27.5 ~~and~~million ain ~~detailed discussion of~~ the ~~Company’s~~corresponding ~~use~~period of ~~non-GAAP~~the ~~information~~prior ~~set forth elsewhere in this press release~~year.

•

Non-GAAP¹ net income for the fourth quarter of 2011 increased by 57.4% year-over-year to RMB44.4 million from RMB28.2 million in the corresponding period of the prior year.

¹	All non-GAAP measures exclude share-based compensation expenses. For further details on non-GAAP measures, please refer to the reconciliation tables and a detailed discussion of the Company's use of non-GAAP information set forth elsewhere in this press release.

²	Each of the Company’s American Depositary Shares (“ADS”), which are traded on New York Stock Exchange, represents six of the Company’s ordinary shares.

3 This announcement contains translations of certain Renminbi (“RMB”) amounts into US dollars (“$”) at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to US dollars as of and for the quarter ended ~~September~~December 3031, 2011 were made at the noon buying rate of RMB6.~~3780~~2939 to ~~USD1~~$1.00 on ~~September~~December 30, 2011 in the City of New York for cable transfers in Renminbi per US dollar as certified for customs purposes by the Federal Reserve Bank of New York. The Company makes no representation that the Renminbi or US dollar amounts referred to in this press release could have been or could be converted into US dollars or Renminbi, at any particular rate or at all.

~~Mr. Libo~~Full ~~Yang,~~Year Chief Executive Officer of the Company, stated, “We are very pleased that Kanghui once again exceeded expectations and delivered another strong quarterly financial performance in the third quarter of 2011. WeHighlights continued to benefit from strong growth in our domestic sales, as we further enhanced our brand recognition and market share in China. We believe our new manufacturing facilities, new product introductions and the smooth integration of our recent acquisitions have laid a strong foundation for our future growth. In short, the third quarter of 2011 was another successful milestone that supported our growth strategy.

~~Ms. Sarah~~• ~~Wang,~~Total ~~Chief~~net ~~Financial Officer of Kanghui, commented, “Our strong third quarter performance demonstrates the resiliency of Kanghui’s balanced and diversified~~ revenue ~~model,~~for ~~pursuant to which~~ the ~~decrease~~full inyear ~~our~~2011 ~~international~~increased ~~sales were fully covered~~ by ~~our strong growth in domestic and OEM sales~~34.7% Weyear-over-year ~~continued~~ to ~~benefit~~RMB327.0 million from ~~firm pricing in our proprietary products and achieved strong gross profits~~RMB242.8 ~~Considering~~million ~~the strong demand~~ for ~~our products and our increasing market share, we feel confident about our future prospects for~~ the ~~remainder~~full ofyear ~~2011 and beyond~~2010.”

~~Third~~• ~~Quarter~~Gross profit for the full year 2011 ~~Financial~~increased ~~and~~by ~~Operating~~36.8% ~~Results~~year-over-year to RMB234.5 million from RMB171.4 million for the full year 2010.

~~Net~~• ~~revenue~~Operating ~~increased~~income byfor ~~26.9% year-over-year to RMB80.7 million ($12.7 million) in~~ the ~~third~~full ~~quarter~~year of 2011 ~~from RMB63.6 million in the corresponding period of the prior year. Net revenue from trauma products~~ increased by 22.~~8% year-over-year to RMB48.~~5 ~~million ($7.6 million) in the third quarter of 2011 from RMB39.5 million in the corresponding period of the prior year. Net revenue from spine products increased by 34.4~~% year-over-year to ~~RMB25.4~~ ~~million ($4~~RMB132.03 million) ~~in the third quarter of 2011~~ from ~~RMB18~~RMB108.9 million in the corresponding period of the prior year. Net revenue from OEM products increased by 30.8% year-over-year to RMB6.8 million ($1.1 million) in the third quarter of 2011 from RMB5.2 million in the corresponding period of the prior year. Domestic sales of proprietary products increased by 36.5% year-over-year to RMB64.0 million ~~($10.0~~for ~~million) in~~ the ~~third~~full ~~quarter of 2011 from RMB46.9 million in the corresponding period of the prior~~ year, ~~while international sales of proprietary products decreased by 13~~2010.~~9% year-over-year to RMB9.9 million ($1.6 million) in the third quarter of 2011 from RMB11.5 million in the corresponding period of the prior year.~~

In• ~~the~~Net ~~third~~income ~~quarter~~for ~~of 2011, cost of revenue increased by 23.5% to RMB22.1 million ($3.5 million) from RMB17.9 million in~~ the ~~corresponding~~ ~~period~~full ~~of the prior~~ year. ~~Gross~~2011 ~~profit~~ increased by 2821.~~0% to RMB58.~~5 ~~million ($9.2 million) in the third quarter of 2011 from RMB45.7 million in the corresponding period of the prior year. Gross margin for the third quarter of 2011 was 72.5~~%, ~~compared to 71.9% in the corresponding period of the prior~~ year~~. Selling expenses increased by 50.9% to RMB8.3 million ($1.3 million) in the third quarter of 2011 from RMB5.5 million in the corresponding period of the prior~~ -over-year. ~~General and administrative expenses increased by 72.6%~~ to ~~RMB10~~RMB121.~~7 million ($~~1.7 million) ~~in the third quarter of 2011~~ from ~~RMB6~~RMB99.~~2 million in the corresponding period of the prior year. Research and development expenses increased by 88.2% to RMB3.2 million ($502, 000) in the third quarter of 2011 from RMB1.~~7 million infor the ~~corresponding~~full ~~period of the prior~~ year. 2010.

~~Provision~~• ~~for~~Non-GAAP1 net income ~~taxes~~for in the ~~third~~ ~~quarter~~full ofyear 2011 ~~was~~increased ~~RMB11.1~~by ~~million ($1~~19.~~7 million), representing an effective tax rate of 27.9~~3%, ~~compared~~year-over-year to anRMB128.5 ~~income~~million ~~tax~~from ~~expense of RMB4~~RMB107.37 million infor the ~~corresponding~~full ~~period of the prior~~ year. 2010.

~~Operating~~Mr. Libo ~~income~~Yang, ~~increased~~Chief byExecutive ~~12.3%~~Officer toof ~~RMB36.4~~the ~~million~~Company, ~~($5.7~~stated, ~~million)~~“We inare ~~the~~very ~~third~~pleased ~~quarter~~that ofKanghui ~~2011~~once ~~from~~again exceeded expectations and delivered ~~RMB32.4~~another ~~million~~strong quarterly financial performance in the ~~corresponding~~fourth ~~period~~quarter of ~~the~~2011. ~~prior~~We ~~year.~~continued ~~Operating~~to ~~margin~~expand ~~decreased~~our tomarket ~~45.1%~~share in China, while further penetrated our existing international sales channels at the ~~third~~same time. Our fourth quarter ofsuccess concluded a very successful 2011 ~~from~~for 50Kanghui.9% inWith ~~the~~our ~~corresponding~~sustainable ~~period~~advantages, ofa ~~the~~proven ~~prior~~product line, and an exciting new product pipeline, we believe we are well positioned to deliver another successful year in 2012.”

~~Net income was RMB28~~Ms.9 Sarah ~~million~~Wang, ~~($4.5~~Chief ~~million)~~Financial inOfficer ~~the third quarter~~ of ~~2011~~Kanghui, ~~representing~~commented, a“Our ~~year-over-year~~strong ~~increase~~fourth ofquarter ~~8.6%~~financial ~~from RMB26.6~~results ~~million~~reflect inour ~~the~~ability ~~corresponding~~to ~~period~~consistently execute ofon ~~the~~our ~~prior~~growth ~~year~~strategy. OnDuring ~~a diluted per ADS2 basis,~~ the ~~Company~~fourth ~~reported net income per diluted ADS of RMB1.12 ($0.18) in the third~~ quarter ~~of 2011~~, ~~compared~~we toexperienced astrong ~~net~~sales ~~income~~growth ~~per~~across ~~diluted~~all ~~ADS~~product ofsegments ~~RMB0.73~~and inmarkets, ~~the~~driven ~~corresponding~~by ~~period of~~ the ~~prior~~strong ~~year. Non-GAAP~~demand ~~net~~for ~~income,~~our ~~which~~existing ~~excludes~~product ~~share~~lines. ~~based~~For ~~compensation expenses~~2012, ~~increased~~we byintend ~~11.0%~~ to ~~RMB31.3~~continue ~~million~~with ~~($4.9 million) from RMB28.2 million in~~ the ~~corresponding~~solid momentum ~~period~~and offoundation ~~the~~that ~~prior~~we ~~year.~~had ~~The~~built ~~Company~~in ~~reported~~2011 ~~non-GAAP~~and ~~net~~to ~~income~~launch ~~per~~additional ~~diluted~~new ~~ADS of~~products ~~RMB1.21~~throughout ~~($0.19) in~~ the ~~third~~year ~~quarter~~to offurther ~~2011,~~establish ~~compared~~Kanghui toas a ~~non-GAAP~~leading ~~net~~international ~~income~~provider ~~per diluted ADS~~ of ~~RMB0.81~~innovative inand ~~the~~diversified ~~corresponding~~orthopedic ~~period of the prior year~~products.”

~~During~~Fourth ~~the~~Quarter ~~third quarter of~~ 2011, ~~the~~Financial ~~Company~~and ~~had~~Operating aResults weighted average diluted share count of approximately 155.2 million shares (equivalent to 25.9 million ADSs), compared to 112.3 million shares (equivalent to 18.7 million ADSs) in the corresponding period of the prior year.

Net revenue increased by 33.6% year-over-year to RMB96.6 million ($15.3 million) in the fourth quarter of 2011 from RMB72.3 million in the corresponding period of the prior year. Net revenue from trauma products increased by 45.4% year-over-year to RMB63.7 million ($10.1 million) in the fourth quarter of 2011 from RMB43.8 million in the corresponding period of the prior year. Net revenue from spine products increased by 28.4% year-over-year to RMB28.5 million ($4.5 million) in the fourth quarter of 2011 from RMB22.2 million in the corresponding period of the prior year. Net revenue from OEM products decreased by 30.2% year-over-year to RMB4.4 million ($0.7 million) in the fourth quarter of 2011 from RMB6.3 million in the corresponding period of the prior year. Domestic sales of proprietary products increased by 26.8% year-over-year to RMB70.0 million ($11.1 million) in the fourth quarter of 2011 from RMB55.2 million in the corresponding period of the prior year, while international sales of proprietary products increased by 105.6% year-over-year to RMB22.2 million ($3.5 million) in the fourth quarter of 2011 from RMB10.8 million in the corresponding period of the prior year.

In the fourth quarter of 2011, cost of revenue increased by 36.5% year-over-year to RMB27.3 million ($4.3 million) from RMB20.0 million in the corresponding period of the prior year. Gross profit increased by 32.3% year-over-year to RMB69.2 million ($11.0 million) in the fourth quarter of 2011 from RMB52.3 million in the corresponding period of the prior year. Gross margin for the fourth quarter of 2011 was 71.6%, compared to 72.3% in the corresponding period of the prior year.

Selling expenses increased by 29.2% year-over-year to RMB14.6 million ($2.3 million) in the fourth quarter of 2011 from RMB11.3 million in the corresponding period of the prior year. General and administrative expenses increased by 50.0% year-over-year to RMB13.2 million ($2.1 million) in the fourth quarter of 2011 from RMB8.8 million in the corresponding period of the prior year. Research and development expenses increased by 229.4% year-over-year to RMB5.6 million ($0.9 million) in the fourth quarter of 2011 from RMB1.7 million in the corresponding period of the prior year.

Operating income increased by 17.0% to year-over-year RMB35.8 million ($5.7 million) in the fourth quarter of 2011 from RMB30.6 million in the corresponding period of the prior year. Operating margin decreased to 37.1% in the fourth quarter of 2011 from 42.3% in the corresponding period of the prior year.

Income tax benefit in the fourth quarter of 2011 was RMB0.3 million ($54,000), compared to an income tax expense of RMB2.6 million in the corresponding period of the prior year.

Net income was RMB42.3 million ($6.7 million) in the fourth quarter of 2011, representing a year-over-year increase of 53.8% from RMB27.5 million in the corresponding period of the prior year. On a diluted per ADS² basis, the Company reported net income per diluted ADS of RMB1.65 ($0.26) in the fourth quarter of 2011, compared to a net income per diluted ADS of RMB1.10 in the corresponding period of the prior year.

Non-GAAP net income, which excludes share based compensation expenses, increased by 57.4% to RMB44.4 million ($7.1 million) from RMB28.2 million in the corresponding period of the prior year. The Company reported non-GAAP net income per diluted ADS of RMB1.72 ($0.27) in the fourth quarter of 2011, compared to a non-GAAP net income per diluted ADS of RMB1.12 in the corresponding period of the prior year.

During the fourth quarter of 2011, the Company had a weighted average diluted share count of 154.3 million shares (equivalent to 25.7 million ADSs), compared to 150.6 million shares (equivalent to 25.1 million ADSs) in the corresponding period of the prior year.

Full Year 2011 Financial and Operating Results

For the full year ended December 31, 2011, net revenue increased 34.7% year-over-year to RMB327.0 million ($52.0 million) from RMB242.8 million for the prior year. Net revenue from trauma products increased 30.7% year-over-year to RMB201.6 million ($32.0 million) from RMB154.3 million for the prior year. Net revenue from spine products increased 45.6% year-over-year to RMB99.3 million ($15.8 million) from RMB68.2 million for the prior year. Net revenue from OEM products increased 28.6% year-over-year to RMB26.1 million ($4.1 million) from RMB20.3 million for the prior year. The increase in revenue for full year 2011 also reflects international revenue growth of 48.6% and domestic revenue growth of 32.4%, on a year-over-year basis.

Gross profit for the full year 2011 increased 36.8% year-over-year to RMB234.5 million ($37.3 million) from RMB171.4 million in the prior year. Operating income for full year 2011 increased 22.5% year-over-year to RMB132.3 million ($21.0 million) from RMB108.0 million for the prior year.

Net income for the full year 2011 increased by 21.5% year-over-year to RMB121.1 million ($19.2 million) from RMB99.7 million for the prior year. This is equivalent to RMB4.72 ($0.75) per diluted ADS in the full year 2011. Non-GAAP net income for the full year 2011, which excludes share-based compensation expenses, increased by 19.3% year-over-year to RMB128.5 million ($20.4 million) from RMB107.7 million for the prior year. This is equivalent to RMB5.01 ($0.80) per diluted ADS in the full year 2011.

The weighted average number of diluted shares outstanding was 154.0 million, equivalent to 25.7 million ADSs, for the year ended December 31, 2011, compared to a weighted average of 100.3 million diluted shares outstanding, equivalent to 16.7 million ADSs, for the year ended December 31, 2010.

Balance Sheet

As of ~~September~~December 3031, 2011, the Company had cash and cash equivalents of ~~RMB340~~RMB380.41million ~~million~~ ($5360.4 million), compared to RMB262.5 million as of December 31, 2010. As of ~~September~~December 3031, 2011, the Company held short-term investments of ~~RMB93~~RMB77.20 million ($1412.62 million), compared to RMB266.7 million as of December 31, 2010.

Business Outlook

Mr. Yang added, “~~Taken~~Our ~~into~~progress ~~account~~in ~~our~~2011 ~~strong~~has ~~third~~laid a solid ~~quarter~~foundation ~~performance~~for our continued growth in 2012, as we are focused on further penetrating both our existing domestic and ~~the~~international ~~continued~~markets ~~demand~~while expanding into new growth opportunities. As we successfully obtained FDA approvals for ~~all~~TGM’s Helicon™ ofHip ~~our~~System ~~product~~(“HHS”), ~~lines~~Milestone Knee System (“MKS”) and related surgical instruments, we ~~are~~intend ~~once~~to ~~again~~launch ~~increasing~~these products this year to kick start our ~~revenue~~reconstructive joint segment. We have a good start in 2012 and ~~net~~will continue ~~income~~to ~~guidance~~position ~~for~~Kanghui ~~full~~as ~~year~~a ~~2011~~leader in product quality in the fast-growing and relatively underserved joint reconstruction market in China.”

The Company anticipates revenue for full year ~~2011~~2012 towill ~~increase~~be toin the range of ~~RMB313~~RMB392 million to ~~RMB318~~RMB403 million, which represents a year-over-year growth of 2920% to 3123%. ~~This~~The ~~compares to the~~ Company~~’s previous~~ ~~2011~~also ~~revenue~~estimates ~~guidance~~its offull ~~RMB303~~year 2012 ~~million to RMB313 million. The Company estimates~~ non-GAAP net income ~~for~~to ~~full~~be ~~year~~in ~~2011 will increase to~~ the range of ~~RMB124~~RMB146 million to ~~RMB128~~RMB153 million~~, compared to its previous estimate of RMB122 million to RMB127 million~~.

Non-Cash Share-Based Compensation Expense Discussion

The Company recognized non-cash share-based compensation expenses of ~~approximately~~ RMB2.40 million ($~~376,~~0.3 ~~000~~million) in the ~~third~~fourth quarter of 2011 and RMB7.4 million ($1.2 million) for full year 2011.

The Company classified these non-cash share-based compensation expenses in its costs of revenue, selling expenses, general and administrative expenses as well as in research and development expenses. The break out of these expenses per line item is provided in the financial tables attached to this press release.

The Company has provided a non-GAAP presentation of results which excludes the non-cash share-based compensation expenses. Please refer to the non-GAAP presentation provided in the appendix for a year -over -year comparison of non-cash share-based compensation expenses. The Company believes that this non-GAAP presentation is a helpful tool for the Company to plan and forecast future periods and both management and investors benefit from referring to such non-GAAP presentation in assessing the performance of the Company.

Conference Call

Kanghui will hold a corresponding conference call and live webcast at 8:00 a.m. ET on ~~Thursday~~Monday, ~~November~~March 1019, ~~2011~~2012 (98:00 p.m. Beijing time on ~~Thursday~~ Monday, ~~November~~March 1019, ~~2011~~2012) to discuss ~~the~~fourth ~~third~~ quarter and full year 2011 results and answer questions from investors. Listeners may access the call by dialing:

US Toll Free:		1-866-519-4004
US Toll/International:		1-718-354-1231
Hong Kong Toll Free:		800-930-346
Hong Kong Toll:		852-2475-0994
China Toll Free:		800-819-0121
China Toll:		400-620-8038
China Toll Free (Mobile):		400-620-8038
Conference ID:		~~20863271~~51428308

A replay of the webcast will be accessible through ~~November~~March 2426, ~~2011~~2012 on http://ir.kanghui.com or by dialing:

United States toll free:		+1-866-214-5335
US Toll Free:		+1-866-214-5335
US Toll/International:		+1-718-354-1232
Passcode:		~~20863271~~51428308

About China Kanghui Holdings

Founded in 1997, Kanghui is a leading domestic developer, manufacturer and marketer of orthopedic implants in China. The Company offers a wide array of proprietary orthopedic implant products in trauma and spine., Itand has an extensive nationwide network of distributors for its products in China~~. In addition~~, ~~Kanghui’s~~as ~~products~~well ~~are~~as ~~distributed~~ in 28 other countries. Kanghui has strong research and development capabilities, focused on developing new proprietary products, ~~including~~and ~~new~~ product lines, ~~extensions~~and ofenhancing existing ~~product~~products ~~lines~~ and ~~enhancements~~product ~~of existing products~~lines. For more information, please visit www.kanghui.com.

Use of Non-GAAP Financial Measures

The Company has included non-GAAP financial measures in this press release. Non-GAAP financial measures are defined as GAAP gross profit excluding non-cash share-based compensation expenses, operating income excluding non-cash share-based compensation expenses, net income excluding non-cash share-based compensation expenses, net margin excluding non-cash share-based compensation expenses, basic earnings per share and per ADS excluding non-cash share-based compensation expenses, and diluted earnings per share and per ADS excluding non-cash share-based compensation expenses. The Company believes that management and investors benefit from referring to the non-GAAP financial measures in assessing the performance of the Company and when planning and forecasting future periods. These non-GAAP operating measures are useful for understanding and assessing underlying business performance and operating trends. The use of non-GAAP financial measures has limitations and readers should not consider non-GAAP financial measures in isolation from or as alternatives to consolidated financial metrics prepared in accordance with U.S. GAAP. Readers are encouraged to refer to the reconciliation of non-GAAP measures to GAAP measures included herein.

Safe-Harbor Statement

This press release contains statements of a forward-looking nature, including, among other things, the Company’s unaudited operating results for ~~2010~~ 2011 and anticipated operating results for ~~2011~~2012, ~~the expected growth driven by the Company’s~~ new ~~manufacturing facilities, new~~ product introductions and the ~~smooth~~respective ~~integration of its recent acquisitions~~timetable, the ~~continued~~ demand for ~~the~~joint ~~Company’s~~reconstruction products, ~~the~~in ~~Company’s ability to increase its market share~~China, future prospects of the Company and the ability for the Company to realize its business plans for ~~the remainder of 2011~~2012. These forward-looking statements are not historical facts but instead represent only the Company’s belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. The actual results and other circumstances of the Company may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the ~~third~~fourth quarter 2011 are preliminary, unaudited and subject to audit adjustment. Adjustments to the financial statements may be identified when audit work is performed for the year -end audit, which could result in significant differences from this preliminary unaudited financial information. These statements are made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. These forward-looking statements may include, but are not limited to, statements containing words such as “may,” “could,” “would,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “expects,” “intends” and “future” or similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to change at any time. These forward-looking statements are based upon management’s current expectations and are subject to a number of risks, uncertainties and contingencies, many of which are beyond the Company’s control that may cause actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company’s actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including the Company’s beliefs regarding its strengths and strategies; the Company’s ability to expand its international business; the Company’s ability to develop and successfully market new products in China and internationally; the Company’s current expansion strategy, including its ability to expand its manufacturing and research and development facilities and capabilities and the Company’s future prospects, business development, results of operations and financial condition. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form ~~20F~~20-F for the fiscal year 2010, as filed with the Securities and Exchange Commission on June 3, 2011, and are available on the Securities and Exchange Commission’s website at www.sec.gov. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see “Risk Factors” that begins on page 5 of the Company’s annual report for fiscal year 2010 and in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission, which can be found on the Company’s website at www.kanghui.com or at www.sec.gov.

Contact Information

China Kanghui Holdings Investor Relations Department

+1-888-321-2558

Asia Bridge Capital Limited

Carene Toh

+86-186 1835 6339

carene.toh@asiabridgegroup.com

China Kanghui Holdings

Summary - ~~Third~~Fourth Quarter and Full Year 2011

(RMB in thousands, except for ~~share, ADS,~~ per share ~~data~~ data and per ADS data)

Three Months EndedSeptember 30,

Nine Months EndedSeptember 30,

Three Months EndedDecember 31,

Year EndedDecember 31,

2010

2011

2010

2011

Unaudited

Net revenue

6372,~~599~~285

8096,~~659~~562

~~170~~242,~~469~~754

~~230~~326,~~392~~954

Gross profit

4552,~~701~~304

5869,~~514~~221

~~119~~171,~~143~~447

~~165~~234,~~279~~500

Non-GAAP gross profit

4552,~~755~~352

5869,~~563~~269

~~119~~171,~~286~~638

~~165~~234,~~427~~696

Operating income

3230,~~355~~550

3635,~~371~~797

77107,~~419~~969

96132,~~549~~346

Non-GAAP operating income

3331,~~939~~211

3837,~~773~~813

84115,~~753~~964

~~101~~139,~~906~~719

Net income

2627,~~648~~529

2842,~~885~~344

7299,~~178~~707

78121,~~733~~077

Non-GAAP net income

28,~~232~~190

3144,~~287~~360

79107,~~512~~702

84128,~~090~~450

Earnings per share -basic

0.1420

0.2130

0.0930

0.5787

Earnings per share -diluted

0.1218

0.1927

0.0827

0.5179

Earnings per ADS -basic

01.8121

1.2381

01.5681

35.4122

Earnings per ADS -diluted

01.7310

1.1265

01.4960

34.0872

Non-GAAP earnings per share -basic

0.1521

0.2232

0.2039

0.6192

Non-GAAP earnings per share -diluted

0.1419

0.2029

0.1735

0.5583

Non-GAAP earnings per ADS -basic

01.9124

1.3490

12.1736

35.6454

Non-GAAP earnings per ADS -diluted

01.8112

1.2172

12.0208

35.2901

- Revenue By Product Category

Trauma

3943,~~493~~747

4863,~~444~~602

~~110~~154,~~473~~220

~~137~~201,~~926~~528

Spine

1822,~~869~~236

2528,~~372~~523

4568,~~974~~210

7099,~~826~~349

OEM

56,~~237~~302

64,~~843~~437

1420,~~022~~324

2126,~~640~~077

- Revenue by Business Sector

Domestic

4655,~~835~~168

6369,~~909~~950

~~127~~182,~~360~~528

~~171~~241,~~651~~601

International

1110,~~527~~815

922,~~907~~175

2939,~~087~~902

3759,~~101~~276

OEM

56,~~237~~302

64,~~843~~437

1420,~~022~~324

2126,~~640~~077

China Kanghui Holdings

Consolidated Balance Sheets

(Expressed in thousands)

As of December 31,2010

As of ~~September~~December 3031,2011

RMB

RMBUnaudited

US$Unaudited

RMB Audited

RMBUnaudited

US$Unaudited

Assets

Current assets:

Cash and cash equivalents

262,476

~~340~~380,~~418~~092

5360,~~374~~391

Bills receivable

8,163

45,~~927~~873

~~772~~933

Short-term investments

266,673

9376,~~238~~998

1412,~~619~~234

Accounts receivable, net

55,131

8487,~~448~~578

13,~~241~~915

Inventories, net

86,266

~~105~~110,~~238~~907

1617,~~500~~621

Prepayments and other current assets

11,693

1913,~~288~~428

32,~~023~~135

Deferred tax assets

12,134

169,~~214~~090

21,~~542~~444

Amount due from related parties

644

15,~~388~~672

~~218~~901

Total current assets

703,180

~~665~~689,~~159~~638

~~104~~109,~~289~~574

Non-current assets:

Property, plant and equipment, net

107,237

~~246~~259,~~551~~825

3841,~~657~~282

Intangible assets, net

46,995

6362,~~122~~026

9,~~897~~855

Prepaid land lease payments

23,298

22,~~933~~812

3,~~596~~624

Goodwill

131,527

155,341

24,~~356~~681

Long-term investments

—

2625,~~486~~204

4,~~153~~004

Deposits for non-current assets

37,507

64,~~137~~731

~~962~~752

Deferred tax assets

2,436

2,~~805~~444

~~440~~388

Other long-term assets

—

~~352~~257

5541

Total non-current assets

349,000

~~523~~532,~~727~~640

8284,~~116~~627

Total assets

1,052,180

1,~~188~~222,~~886~~278

~~186~~194,~~405~~201

Liabilities and equity

Current liabilities:

Accounts payable

15,086

1819,~~672~~278

23,~~928~~063

Accrued expenses and other liabilities

47,433

6165,~~214~~388

910,~~598~~389

Income tax payable

2,830

65,~~529~~800

~~1,024~~922

Deferred revenue

289

~~119~~—

19—

Uncertain tax positions

8,004

164,~~925~~197

~~2,654~~667

Amount due to related parties

4,040

21,~~266~~137

~~355~~181

Deferred tax liabilities

—

378

Total current liabilities

77,682

95,800

15,222

Total current liabilities

77,682

106,103

16,637

Non-current liabilities:

Deferred government grants

5,511

56,~~210~~409

~~817~~1,018

Deferred tax liabilities

11,700

1514,~~750~~857

2,~~469~~361

Total non-current liabilities

17,211

2021,~~960~~266

3,~~286~~379

Total liabilities

94,893

~~127~~117,~~063~~066

1918,~~923~~601

Commitments and contingencies

Equity:

Ordinary shares (par value of US$0.001 per share; 1,000,000,000 shares authorized as of December 31, 2010 and September 30, 2011 (unaudited); 136,821,600 shares issued and outstanding as of December 31, 2010 and 140,401,842 shares issued and outstanding as of September 30, 2011 (unaudited))

999

1,022

160

Ordinary shares (par value of US$0.001 per share; 1,000,000,000 shares authorized as of December 31, 2010 and December 31, 2011 (unaudited); 136,821,600 shares issued and outstanding as of December 31, 2010 and 140,401,842 shares issued and outstanding as of December 31, 2011 (unaudited))

999

1,022

162

Additional paid-in capital

892,298

~~910~~912,~~954~~972

~~142~~145,~~828~~057

Accumulated other comprehensive loss

(16,737

)

(1719,~~833~~604

)

(23,~~796~~115

)

Statutory reserves

31,247

3145,~~247~~417

47,~~899~~216

Retained earnings

49,480

~~128~~156,~~213~~387

2024,~~102~~847

Total China Kanghui Holdings shareholders’ equity

957,287

1,~~053~~096,~~603~~194

~~165~~174,~~193~~167

Non-controlling interests

—

89,~~220~~018

1,~~289~~433

Total equity

957,287

1,~~061~~105,~~823~~212

~~166~~175,~~482~~600

Total liabilities and equity

1,052,180

1,~~188~~222,~~886~~278

~~186~~194,~~405~~201

China Kanghui Holdings

Consolidated Statements of Operations

Expressed in thousands, except share and per share data

	Three Months Ended September 30,									Nine Months Ended September 30,
	Three Months Ended December 31,									Year Ended December 31,
	2010			2011						2010			2011
	RMBUnaudited			RMBUnaudited			US$ Unaudited			RMBUnaudited			RMBUnaudited			US$ Unaudited
	RMB			RMB			US$			RMB			RMB			US$
Net revenue		63,599			80,659			12,646			170,469			230,392			36,123
	Unaudited			Unaudited			Unaudited			Audited			Unaudited			Unaudited
Cost of revenue		(17,898	)		(22,145	)		(3,472	)		(51,326	)		(65,113	)		(10,209	)
Net revenue		72,285			96,562			15,342			242,754			326,954			51,948
Gross profit		45,701			58,514			9,174			119,143			165,279			25,914
Cost of revenue		(19,981	)		(27,341	)		(4,344	)		(71,307	)		(92,454	)		(14,689	)
Operating expenses
Gross profit		52,304			69,221			10,998			171,447			234,500			37,259
Selling expenses		(5,470	)		(8,261	)		(1,295	)		(16,957	)		(26,999	)		(4,233	)
Operating expenses:
General and administrative expenses		(6,150	)		(10,664	)		(1,672	)		(21,009	)		(35,212	)		(5,521	)
Selling expenses		(11,273	)		(14,573	)		(2,315	)		(28,230	)		(41,572	)		(6,605	)
Research and development costs		(1,726	)		(3,218	)		(505	)		(3,758	)		(6,519	)		(1,022	)
General and administrative expenses		(8,756	)		(13,203	)		(2,098	)		(29,765	)		(48,415	)		(7,692	)
Operating income		32,355			36,371			5,702			77,419			96,549			15,138
Research and development expenses		(1,725	)		(5,648	)		(897	)		(5,483	)		(12,167	)		(1,933	)
Interest income		1,207			6,295			987			1,857			10,543			1,653
Operating income		30,550			35,797			5,688			107,969			132,346			21,029
Government grants		330			—			—			360			3,190			500
Interest income		1,058			5,384			855			2,915			15,927			2,530
Other income		34			941			147			478			1,934			303
Government grants		3,130			1,141			181			3,490			4,331			688
Other expenses		(36	)		(970	)		(152	)		(313	)		(1,878	)		(294	)
Other income		91			—			—			569			1,860			296
Foreign exchange loss		(2,900	)		(2,783	)		(436	)		(3,081	)		(8,124	)		(1,274	)
Other expenses		(422	)		(81	)		(13	)		(735	)		(1,885	)		(299	)
Income before income taxes		30,990			39,854			6,248			76,720			102,214			16,026
Foreign exchange loss		(4,259	)		(440	)		(70	)		(7,340	)		(8,564	)		(1,361	)
Income tax expense		(4,342	)		(11,108	)		(1,742	)		(4,542	)		(23,869	)		(3,742	)
Income before income taxes		30,148			41,801			6,641			106,868			144,015			22,883
Net income		26,648			28,746			4,506			72,178			78,345			12,284
Income tax (expense) benefit		(2,619	)		340			54			(7,161	)		(23,529	)		(3,738	)
Net loss attributable to non-controlling interests		—			139			22			—			388			61
Net income		27,529			42,141			6,695			99,707			120,486			19,145
Net income attributable to China Kanghui Holdings		26,648			28,885			4,528			72,178			78,733			12,345
Net loss attributable to non-controlling interests		—			203			32			—			591			94
Net income attributable to China Kanghui Holdings		27,529			42,344			6,727			99,707			121,077			19,239
Accretion of redeemable convertible preferred shares:
Series A		~~(1,483~~—	)		—			—			(7,572	)		—			—
Series B		~~(10,977~~—	)		—			—			(54,988	)		—			—
Series B-1		~~(567~~—	)		—			—			(2,844	)		—			—
Net income attributable to ordinary shareholders		1327,~~621~~529			2842,~~885~~344			46,~~528~~727			634,~~774~~303			78121,~~733~~077			1219,~~345~~239
Earnings per share
Earnings per share:
Basic		0.1420			0.2130			0.0305			0.0930			0.5787			0.0914
Diluted		0.1218			0.1927			0.0304			0.0827			0.5179			0.0812
Shares used in earnings per share computation
Shares used in earnings per share computation:
Basic		~~100~~136,~~380~~821,~~949~~600			140,~~358~~401,~~000~~842			140,~~358~~401,~~000~~842			7288,~~092~~408,~~871~~057			~~138~~139,~~642~~086,~~708~~102			~~138~~139,~~642~~086,~~708~~102
Diluted		~~112~~150,~~329~~615,~~330~~232			~~155~~154,~~152~~311,~~302~~169			~~155~~154,~~152~~311,~~302~~169			82100,~~816~~346,~~965~~612			153,~~254~~972,~~979~~265			153,~~254~~972,~~979~~265
Share-based compensation charges incurred during the period related to:
Cost of revenue		5448			4948			87			~~143~~191			~~148~~196			2330
Selling expenses		~~120~~107			~~108~~149			1723			~~348~~455			~~329~~478			5274
General and administrative expenses		~~1,356~~457			21,~~195~~770			~~344~~274			67,~~701~~158			46,~~732~~502			~~742~~1,007
Research and development expenses		5449			5049			8			~~142~~191			~~148~~197			2331
Total		~~1,584~~661			2,~~402~~016			~~377~~312			7,~~334~~995			57,~~357~~373			~~840~~1,142

China Kanghui Holdings

Reconciliations of Non-GAAP Results to GAAP Results of Operations

(RMB in thousands, except for share, ADS, per share data and per ADS data)

	Three Months EndedSeptember 30,						Nine Months EndedSeptember 30,
	Three Months EndedDecember 31,						Year EndedDecember 31,
	2010			2011			2010			2011
	Unaudited			Unaudited			Unaudited			Unaudited
Net revenue		6372,~~599~~285			8096,~~659~~562			~~170~~242,~~469~~754			~~230~~326,~~392~~954
Non-GAAP net income		28,~~232~~190			3144,~~287~~360			79107,~~512~~702			84128,~~090~~450
Non-GAAP net margin		4439.40	%		3845.89	%		4644.64	%		3639.53	%
Share-based compensation		(~~1,584~~661	)		(2,~~402~~016	)		(7,~~334~~995	)		(57,~~357~~373	)
GAAP net income		2627,~~648~~529			2842,~~885~~344			7299,~~178~~707			78121,~~733~~077
GAAP net margin		4138.91	%		3543.89	%		4241.31	%		3437.20	%
Non GAAP earnings per share -basic		0.15			0.22			0.20			0.61
Non-GAAP earnings per share -basic		0.21			0.32			0.39			0.92
Non GAAP earnings per share -diluted		0.14			0.20			0.17			0.55
Non-GAAP earnings per share -diluted		0.19			0.29			0.35			0.83
Non GAAP earnings per ADS -basic		0.91			1.34			1.17			3.64
Non-GAAP earnings per ADS -basic		1.24			1.90			2.36			5.54
Non GAAP earnings per ADS -diluted		0.81			1.21			1.02			3.29
Non-GAAP earnings per ADS -diluted		1.12			1.72			2.08			5.01
GAAP earnings per share -basic		0.1420			0.2130			0.0930			0.5787
GAAP earnings per share -diluted		0.1218			0.1927			0.0827			0.5179
GAAP earnings per ADS -basic		01.8121			1.2381			01.5681			35.4122
GAAP earnings per ADS -diluted		01.7310			1.1265			01.4960			34.0872
Shares used in computation of:
Basic earnings per share		~~100~~136,~~380~~821,~~949~~600			140,~~358~~401,~~000~~842			7288,~~092~~408,~~871~~057			~~138~~139,~~642~~086,~~708~~102
Diluted earnings per share		~~112~~150,~~329~~615,~~330~~232			~~155~~154,~~152~~311,~~302~~169			82100,~~816~~346,~~965~~612			153,~~254~~972,~~979~~265
Basic earnings per ADS		1622,~~730~~803,~~158~~600			23,~~393~~400,~~000~~307			1214,~~015~~734,~~479~~676			23,~~107~~181,~~118~~017
Diluted earnings per ADS		1825,~~721~~102,~~555~~539			25,~~858~~718,~~717~~528			1316,~~802~~724,~~828~~435			25,~~542~~662,~~496~~044
Non-GAAP operating income		3331,~~939~~211			3837,~~773~~813			84115,~~753~~964			~~101~~139,~~906~~719
Non-GAAP operating margin		5343.42	%		4839.12	%		4947.78	%		4442.27	%
Share-based compensation		(~~1,584~~661	)		(2,~~402~~016	)		(7,~~334~~995	)		(57,~~357~~373	)
GAAP operating income		3230,~~355~~550			3635,~~371~~797			77107,~~419~~969			96132,~~549~~346
GAAP operating margin		5042.93	%		4537.1	%		4544.45	%		4140.95	%
Non-GAAP gross profit		4552,~~755~~352			5869,~~563~~269			~~119~~171,~~286~~638			~~165~~234,~~427~~696
Non-GAAP gross margin		7172.94	%		7271.67	%		70.07	%		71.8	%
Share-based compensation		(5448	)		(4948	)		(~~143~~191	)		(~~148~~196	)
GAAP gross profit		4552,~~701~~304			5869,~~514~~221			~~119~~171,~~143~~447			~~165~~234,~~279~~500
GAAP gross margin		7172.94	%		7271.57	%		6970.96	%		71.7	%

Filing Compare · China Kanghui Holdings