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 ~~March~~May 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: ~~March~~May 1924, 2012

China Kanghui Holdings Reports ~~Fourth~~First Quarter ~~and~~2012 ~~Full Year 2011~~ Financial Results

~~4Q11~~1Q12 Net Revenue Increased 3321.6% Year-Over-Year

~~4Q11~~1Q12 Net Income Increased 5335.80% Year-Over-Year

~~Full~~CHANGZHOU, ~~Year~~May 24, ~~2011~~2012 ~~Net~~– ~~Revenue~~China Kanghui ~~Increased~~Holdings ~~34.7%~~(NYSE: ~~Year-Over-Year~~KH) (“Kanghui” or the “Company”), a leading domestic developer, manufacturer and marketer of orthopedic implants in China, today announced its unaudited financial results for the first quarter of 2012.

~~Full~~First ~~Year 2011~~Quarter ~~Net~~2012 ~~Income~~Highlights ~~Increased 21.5% Year-Over-Tear~~

~~CHANGZHOU,~~• ~~March 19,~~Total ~~2012~~net –revenue ~~China~~for ~~Kanghui~~the ~~Holdings~~first ~~(NYSE:~~quarter ~~KH) (“Kanghui”~~of or2012 ~~the~~increased ~~“Company”),~~by a21.6% ~~leading~~year-over-year ~~domestic~~to ~~developer,~~RMB82.7 ~~manufacturer~~million ~~and~~from ~~marketer~~RMB68.0 ofmillion ~~orthopedic implants~~ in ~~China,~~the ~~today~~corresponding ~~announced~~period ~~its~~of ~~unaudited financial results for~~ the ~~fourth~~prior ~~quarter and full~~ year ~~2011~~.

~~Fourth~~• ~~Quarter~~Gross ~~2011~~profit ~~Highlights~~for the first quarter of 2012 increased by 20.3% year-over-year to RMB58.6 million from RMB48.7 million in the corresponding period of the prior year.

• ~~Total~~Operating ~~net~~income ~~revenue~~ for the ~~fourth~~first quarter of ~~2011~~2012 increased by 335.67% year-over-year to ~~RMB96~~RMB31.65 million from ~~RMB72~~RMB29.38 million in the corresponding period of the prior year.

• ~~Gross~~Net ~~profit~~income for the ~~fourth~~first quarter of ~~2011~~2012 increased by 3235.30% year-over-year to ~~RMB69~~RMB29.27 million from ~~RMB52~~RMB22.30 million in the corresponding period of the prior year.

• ~~Operating~~Non-GAAP1 net income for the ~~fourth~~first quarter of ~~2011~~2012 increased by 1739.07% year-over-year to ~~RMB35~~RMB32.87 million from ~~RMB30~~RMB23.64 million in the corresponding period of the prior year.

•1 ~~Net~~All ~~income~~non-GAAP ~~for~~measures ~~the~~exclude ~~fourth~~share-based ~~quarter~~compensation ofexpenses. ~~2011~~For ~~increased~~further bydetails ~~53.8%~~on ~~year~~non-~~over-year~~GAAP measures, please refer to ~~RMB42.3million~~the ~~from~~reconciliation ~~RMB27.5~~tables ~~million~~and ina detailed discussion of the ~~corresponding~~Company’s ~~period~~use of ~~the~~non-GAAP ~~prior~~information ~~year~~set forth elsewhere in this press release.

•2 ~~Non-GAAP1~~This ~~net~~announcement ~~income~~contains translations of certain Renminbi (“RMB”) amounts into US dollars (“$”) at specified rates solely for the ~~fourth~~convenience ~~quarter~~of readers. Unless otherwise noted, all translations from Renminbi to US dollars as of ~~2011~~and ~~increased~~for bythe ~~57.4%~~quarter ~~year-over-year~~ended March 31, 2012 were made at the noon buying rate of RMB6.2975 to ~~RMB44~~$1.400 ~~million~~on ~~from~~March ~~RMB28.2~~30, ~~million~~2012 in the ~~corresponding~~City ~~period~~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 ~~prior~~Renminbi ~~year~~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.

13 ~~All~~Each ~~non-GAAP~~of ~~measures~~the ~~exclude~~Company’s ~~share-based~~American ~~compensation~~Depositary ~~expenses.~~Shares ~~For further details on non-GAAP measures~~(“ADS”), ~~please~~which ~~refer~~are totraded ~~the~~on ~~reconciliation~~New ~~tables~~York ~~and~~Stock aExchange, ~~detailed~~represents ~~discussion~~six of the Company'’s ~~use~~ordinary ~~of non-GAAP information set forth elsewhere in this press release~~shares.

24 ~~Each~~Beginning ofin the first quarter 2012, in accordance with Accounting Standards Update 2011-05, the Company is presenting other comprehensive income and its components in the unaudited condensed consolidated Statement of Comprehensive Income. Other comprehensive income mainly consists of currency translation adjustments relating to translating some of our subsidiaries’s ~~American~~financial ~~Depositary~~statements ~~Shares~~from ~~(“ADS”)~~their functional currency to our reporting currency, which ~~are~~is ~~traded~~in onthe ~~New~~United ~~York~~States ~~Stock~~dollar. ~~Exchange,~~The ~~represents~~functional ~~six~~currency of ~~the~~our ~~Company’s~~main ~~ordinary~~subsidiaries ~~shares~~in China is the RMB.

3Mr. Libo ~~This~~Yang, ~~announcement~~Chief ~~contains~~Executive ~~translations~~Officer of ~~certain~~the ~~Renminbi~~Company, ~~(“RMB”)~~stated, ~~amounts into US dollars (~~“~~$”)~~We atare ~~specified~~very ~~rates~~pleased ~~solely~~that ~~for~~Kanghui once ~~the~~again ~~convenience~~delivered ofanother ~~readers.~~strong ~~Unless~~quarterly ~~otherwise~~financial ~~noted,~~performance ~~all~~in ~~translations~~the ~~from~~first ~~Renminbi~~quarter ~~to US dollars as~~ of ~~and~~2012, ~~for~~marking the ~~quarter~~seven ~~ended~~consecutive ~~December~~strong ~~31,~~quarter ~~2011~~since ~~were~~our ~~made at the noon buying rate of RMB6~~IPO.~~2939~~ toWe ~~$1.00~~focused strategically on ~~December~~growing ~~30,~~our ~~2011~~brand in the ~~City~~important ofChina ~~New~~market, ~~York~~and ~~for~~thereby continued ~~cable~~to ~~transfers~~expand inour ~~Renminbi~~market ~~per~~share USalong ~~dollar~~with asour ~~certified~~robust ~~for~~domestic ~~customs~~revenue ~~purposes~~growth byin the ~~Federal~~first ~~Reserve~~quarter ~~Bank~~ of ~~New York~~2012. ~~The~~During ~~Company makes no representation that~~ the ~~Renminbi~~quarter, orwe USsuccessfully ~~dollar~~launched ~~amounts~~a ~~referred~~new tospine inproduct ~~this~~that ~~press~~is ~~release~~seeing ~~could~~very ~~have~~good ~~been~~market oruptake, ~~could~~and bewe ~~converted~~experienced ~~into~~significant growth USin ~~dollars~~both orour ~~Renminbi,~~trauma atand ~~any~~spine ~~particular rate or at all~~segments.”

~~Full~~Ms. Sarah ~~Year~~Wang, ~~2011~~Chief ~~Highlights~~Financial Officer of Kanghui, commented, “Our strong first quarter financial results reflect our ability to consistently execute on our growth strategy. Leveraging our strong cash position and consistently positive cash flows, we further enhanced our competitive advantages by expanding our professional management team, domestic distribution network, and development of a broader product line. We are excited with having a very promising new product pipeline that we intend to launch during the remainder of 2012 and beyond.”

•First ~~Total~~Quarter ~~net~~2012 ~~revenue~~Financial ~~for~~and ~~the~~Operating ~~full~~Results ~~year 2011 increased by 34.7% year-over-year to RMB327.0 million from RMB242.8 million for the full year 2010.~~

•Net ~~Gross~~revenue ~~profit~~increased ~~for~~by 21.6% year-over-year to RMB82.7 million ($13.1 million)2 in the ~~full~~first quarter of 2012 from RMB68.0 million in the corresponding period of the prior year. ~~2011~~Net revenue from trauma products increased by 3622.9% year-over-year to RMB51.6 million ($8.2 million) in the first quarter of 2012 from RMB42.0 million in the corresponding period of the prior year. Net revenue from spine products increased by 34.9% year-over-year to ~~RMB234~~RMB25.9 million ($4.1 million) in the first quarter of 2012 from RMB19.2 million in the corresponding period of the prior year. Net revenue from OEM products decreased by 23.5% year-over-year to RMB5.2 million ($0.8 million) in the first quarter of 2012 from ~~RMB171~~RMB6.8 million in the corresponding period of the prior year. Domestic sales of proprietary products increased by 28.5% year-over-year to RMB64.4 million ~~for~~($10.2 million) in the ~~full~~first quarter of 2012 from RMB50.1 million in the corresponding period of the prior year, ~~2010~~while international sales of proprietary products increased by 18.0% year-over-year to RMB13.1 million ($2.1 million) in the first quarter of 2012 from RMB11.1 million in the corresponding period of the prior year.

•In ~~Operating~~the ~~income~~first ~~for~~quarter of 2012, cost of revenue increased by 24.9% year-over-year to RMB24.1 million ($3.8 million) from RMB19.3 million in the ~~full~~corresponding period of the prior year. ~~2011~~Gross profit increased by 2220.53% year-over-year to ~~RMB132~~RMB58.6 million ($9.3 million) in the first quarter of 2012 from ~~RMB108~~RMB48.07 million in ~~for~~the corresponding period of the ~~full~~prior year. ~~2010~~Gross margin for the first quarter of 2012 was 70.9%, compared to 71.6% in the corresponding period of the prior year.

•Selling ~~Net~~expenses ~~income~~increased ~~for~~by 40.0% year-over-year to RMB9.8 million ($1.6 million) in the ~~full~~first quarter of 2012 from RMB7.0 million in the corresponding period of the prior year. ~~2011~~General and administrative expenses increased by 2136.5% year-over-year to ~~RMB121~~RMB14.12 million ($2.3 million) in the first quarter of 2012 from ~~RMB99~~RMB10.74 million ~~for~~in the ~~full~~corresponding period of the prior year. ~~2010~~Research and development expenses increased by 106.7% year-over-year to RMB3.1 million ($0.5 million) in the first quarter of 2012 from RMB1.5 million in the corresponding period of the prior year.

•Operating ~~Non-GAAP1 net~~ income ~~for the full year 2011~~ increased by 195.37% year-over-year to ~~RMB128~~RMB31.5 million ($5.0 million) in the first quarter of 2012 from ~~RMB107~~RMB29.78 million ~~for~~in the corresponding ~~full~~period of the prior year. ~~2010~~Operating margin decreased to 38.1% in the first quarter of 2012 from 43.8% in the corresponding period of the prior year.

~~Mr. Libo~~Income ~~Yang,~~tax ~~Chief~~expense ~~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 ~~fourth~~first quarter of ~~2011.~~2012 Wewas ~~continued~~RMB6.3 tomillion ~~expand~~($1.0 ~~our market share in China~~million), ~~while~~representing ~~further~~an ~~penetrated~~effective ~~our~~tax ~~existing~~rate ~~international~~of ~~sales channels at the same time~~17. ~~Our fourth quarter success concluded a very successful 2011 for Kanghui. With our sustainable advantages~~7%, acompared ~~proven~~to ~~product line, and~~ an ~~exciting~~income ~~new~~tax ~~product~~expense ~~pipeline,~~of weRMB9.0 ~~believe~~million wein ~~are~~the ~~well~~corresponding period ~~positioned~~of tothe ~~deliver~~prior ~~another successful~~ year ~~in 2012~~.”

~~Ms. Sarah~~Net ~~Wang,~~income ~~Chief~~was ~~Financial~~RMB29.7 ~~Officer~~million of($4.7 ~~Kanghui,~~million) ~~commented,~~in ~~“Our~~the ~~strong~~first ~~fourth~~ quarter ~~financial~~of ~~results~~2012, ~~reflect~~representing ~~our ability to consistently~~a ~~execute~~year-over-year onincrease ~~our~~of ~~growth strategy~~35.0% ~~During~~from ~~the~~RMB22.0 ~~fourth~~million ~~quarter,~~in wethe ~~experienced~~corresponding ~~strong~~period ~~sales~~of ~~growth across all product segments and markets, driven by~~ the ~~strong~~prior ~~demand~~year. ~~for~~On ~~our~~a ~~existing~~diluted ~~product~~per ADS3 ~~lines. For 2012~~basis, wethe ~~intend~~Company toreported ~~continue~~net ~~with~~income ~~the~~per ~~solid~~diluted ~~momentum~~ADS ~~and~~of ~~foundation~~RMB1.15 ~~that~~($0.18) ~~we had built~~ in ~~2011~~the ~~and~~first toquarter ~~launch~~of ~~additional~~2012, ~~new~~compared ~~products~~to ~~throughout~~a ~~the~~net ~~year~~income toper ~~further~~diluted ~~establish~~ADS ~~Kanghui~~of asRMB0.87 ain ~~leading~~the ~~international~~corresponding ~~provider~~period of ~~innovative~~the ~~and~~prior ~~diversified orthopedic products~~year.”

~~Fourth~~Non-GAAP ~~Quarter~~net ~~2011~~income, ~~Financial~~which ~~and~~excludes ~~Operating~~share ~~Results~~based compensation expenses, increased by 39.7% to RMB32.7 million ($5.2 million) from RMB23.4 million in the corresponding period of the prior year. The Company reported non-GAAP net income per diluted ADS of RMB1.26 ($0.20) in the first quarter of 2012, compared to a non-GAAP net income per diluted ADS of RMB0.93 in the corresponding period of the prior year.

~~Net~~During ~~revenue increased by 33.6% year-over-year to RMB96.6 million ($15.3 million) in~~ the ~~fourth~~first quarter of ~~2011~~2012, ~~from RMB72.3 million in~~ the ~~corresponding~~Company ~~period~~had ofa ~~the~~weighted ~~prior~~average ~~year.~~diluted ~~Net~~share ~~revenue~~count ~~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~~155.8 0 million inshares ~~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~~equivalent ~~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~~25.4 8 million ~~($0.7 million~~ ADSs), incompared ~~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~~150.0 9 million shares (~~$11.1~~equivalent ~~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~~25.2 million ~~($3.5 million~~ADSs) 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 ~~December~~ March 31, ~~2011~~2012, the Company had cash and cash equivalents of ~~RMB380~~RMB324.~~1million~~2 million ($6051.45 million), compared to ~~RMB262~~RMB380.51 million as of December 31, ~~2010~~2011. As of ~~December~~March 31, ~~2011~~2012, the Company held short-term investments of ~~RMB77~~RMB111.09 million ($1217.28 million), compared to ~~RMB266~~RMB77.70 million as of December 31, ~~2010~~2011.

Business Outlook

Mr. Yang added, “~~Our~~The ~~progress~~strong infirst ~~2011~~quarter ~~has~~provides ~~laid~~us awith ~~solid foundation~~good momentum for ~~our~~the ~~continued~~remainder ~~growth~~of in 2012,. asFollowing weour ~~are~~successful ~~focused~~launch onof ~~further~~a ~~penetrating~~new spine ~~both~~product ~~our~~in ~~existing~~the ~~domestic~~first ~~and~~quarter, ~~international~~we ~~markets~~are ~~while~~launching ~~expanding~~one ~~into~~additional ~~new~~spine ~~growth~~product ~~opportunities.~~in Asthe wesecond ~~successfully~~quarter, ~~obtained~~and ~~FDA~~two ~~approvals~~new ~~for~~trauma ~~TGM’s Helicon™~~products ~~Hip~~and ~~System~~three ~~(“HHS”),~~new ~~Milestone~~joint ~~Knee~~products ~~System~~in ~~(“MKS”)~~the ~~and~~second ~~related~~half ~~surgical~~of ~~instruments,~~2012. weWith ~~intend~~our tonew ~~launch~~joint ~~these~~ products ~~this~~in ~~year~~place, we expect to kick start our reconstructive joint segment. Wein ~~have~~the asecond ~~good~~half ~~start~~of in 2012, ~~and~~which ~~will continue~~we tobelieve ~~position~~can ~~Kanghui~~become as a ~~leader~~major inrevenue ~~product~~driver ~~quality~~of in the ~~fast-growing~~Company ~~and~~going ~~relatively underserved joint reconstruction market in China~~forward.”

The Company reiterates that it anticipates revenue for full year 2012 will be in the range of RMB392 million to RMB403 million, which represents year-over-year growth of 20% to 23%. The Company also estimates its full year 2012 non-GAAP net income to be in the range of RMB146 million to RMB153 million.

Non-Cash Share-Based Compensation ~~Expense~~Expenses Discussion

The Company recognized non-cash share-based compensation expenses of ~~RMB2~~RMB3.0 million ($0.35 million) in the ~~fourth~~first quarter of ~~2011 and RMB7~~2012.4 ~~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 Monday, March 19, 2012~~ (8:00 p.m. Beijing ~~time~~Time) on ~~Monday~~Friday, ~~March~~May 1925, 2012) to discuss ~~fourth~~first quarter ~~and~~2012 ~~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 Free (Mobile):		400-620-8038
Conference ID:		~~51428308~~76263126

A replay of the webcast will be accessible through ~~March~~June 261, 2012 on http://ir.kanghui.com or by dialing:

US Toll Free:		+1-866-214-5335
United States toll free:		+1-866-214-5335
US Toll/International:		+1-718-354-1232
Passcode:		~~51428308~~76263126

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, and has an extensive nationwide network of distributors for its products in China, as well as in 2829 other countries. Kanghui has strong research and development capabilities, focused on developing new proprietary products and product lines, and enhancing existing products and product 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 ~~2011 and anticipated operating results for~~ 2012, new product introductions and the respective timetable, the demand for joint reconstruction products in China, future prospects of the Company and the ability for the Company to realize its business plans for 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 ~~fourth~~first quarter ~~2011~~ of 2012 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 20-F for the fiscal year ~~2010~~2011, as filed with the Securities and Exchange Commission on ~~June~~April 330, ~~2011~~2012, 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 56 of the Company’s annual report for fiscal year ~~2010~~2011 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 - ~~Fourth~~First Quarter ~~and~~2012 ~~Full Year 2011~~

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

Three Months EndedDecember 31,

Year EndedDecember 31,

Three Months EndedMarch 31,

2010

2011

2010

2011

2012

Unaudited

~~Unaudited~~

Net revenue

7267,~~285~~975

9682,~~562~~713

~~242,754~~

~~326,954~~

Gross profit

5248,~~304~~716

6958,~~221~~572

~~171,447~~

~~234,500~~

Non-GAAP gross profit

5248,~~352~~766

6958,~~269~~605

~~171,638~~

~~234,696~~

Operating income

3029,~~550~~804

3531,~~797~~486

~~107,969~~

~~132,346~~

Non-GAAP operating income

31,~~211~~221

3734,~~813~~447

~~115,964~~

~~139,719~~

Net income

27,529

42,344

99,707

121,077

Net income attributable to China Kanghui Holdings

21,969

29,709

Non-GAAP net income

2823,~~190~~386

4432,~~360~~670

~~107,702~~

~~128,450~~

Earnings per share -basic

0.2016

0.3021

~~0.30~~

~~0.87~~

Earnings per share -diluted

0.1815

0.2719

~~0.27~~

~~0.79~~

Earnings per ADS -basic

10.2196

1.8127

~~1.81~~

~~5.22~~

Earnings per ADS -diluted

10.1087

1.6515

~~1.60~~

~~4.72~~

Non-GAAP earnings per share -basic

0.2117

0.3223

~~0.39~~

~~0.92~~

Non-GAAP earnings per share -diluted

0.1916

0.2921

~~0.35~~

~~0.83~~

Non-GAAP earnings per ADS -basic

1.2403

1.9040

~~2.36~~

~~5.54~~

Non-GAAP earnings per ADS -diluted

10.1293

1.7226

~~2.08~~

~~5.01~~

- Revenue By Product Category

Trauma

4342,~~747~~030

6351,~~602~~572

~~154,220~~

~~201,528~~

Spine

2219,~~236~~194

2825,~~523~~893

~~68,210~~

~~99,349~~

OEM

6,~~302~~751

45,~~437~~248

~~20,324~~

~~26,077~~

- Revenue by Business Sector

Domestic

5550,~~168~~109

6964,~~950~~316

~~182,528~~

~~241,601~~

International

1011,~~815~~115

2213,~~175~~149

~~39,902~~

~~59,276~~

OEM

6,~~302~~751

45,~~437~~248

~~20,324~~

~~26,077~~

China Kanghui Holdings

Consolidated Balance Sheets

(Expressed in thousands)

As of December 31,2010

As of December 31,2011

Unaudited

As ofDecember 31,2011

As ofMarch 31,2012

RMB Audited

RMBUnaudited

US$Unaudited

Assets

Current assets:

Cash and cash equivalents

~~262~~380,~~476~~092

~~380~~324,~~092~~202

6051,~~391~~481

Bills receivable

85,~~163~~873

53,~~873~~052

~~933~~485

Short-term investments

~~266~~76,~~673~~998

76111,~~998~~862

1217,~~234~~763

Accounts receivable, net

5587,~~131~~578

87110,~~578~~445

1317,~~915~~538

Inventories, net

86110,~~266~~907

~~110~~126,~~907~~007

1720,~~621~~009

Prepayments and other current assets

1113,~~693~~428

13,~~428~~763

2,~~135~~185

Deferred tax assets

129,~~134~~090

910,~~090~~583

1,~~444~~681

Amount due from related parties

~~644~~5,672

56,~~672~~803

~~901~~1,080

Total current assets

~~703~~689,~~180~~638

~~689~~706,~~638~~717

~~109~~112,~~574~~222

Non-current assets:

Property, plant and equipment, net

~~107~~259,~~237~~825

~~259~~319,~~825~~232

4150,~~282~~692

Intangible assets, net

4662,~~995~~026

6260,~~026~~889

9,~~855~~669

Prepaid land lease payments

2322,~~298~~812

22,~~812~~690

3,~~624~~603

Goodwill

~~131~~155,~~527~~341

155,341

24,~~681~~667

Long-term investments

—

25,204

4,004

Long-term investment

25,204

25,190

4,000

Deposits for non-current assets

374,~~507~~731

46,~~731~~331

~~752~~1,005

Deferred tax assets

2,~~436~~444

2,~~444~~465

~~388~~391

Other long-term assets

—

257

Other assets, non-current

257

135

Total non-current assets

~~349~~532,~~000~~640

~~532~~592,~~640~~273

8494,~~627~~048

Total assets

1,~~052~~222,~~180~~278

1,~~222~~298,~~278~~990

~~194~~206,~~201~~270

Liabilities and equity

Current liabilities:

Accounts payable

1519,~~086~~278

1921,~~278~~220

3,~~063~~370

Accrued expenses and other liabilities

4765,~~433~~388

65105,~~388~~321

1016,~~389~~724

Income tax payable

25,~~830~~800

58,~~800~~378

~~922~~1,330

Deferred revenue

289

—

Uncertain tax positions

4,197

4,152

659

Uncertain tax positions

8,004

4,197

667

Amount due to related parties

1,137

1,312

208

Amount due to related parties

4,040

1,137

181

Total current liabilities

95,800

140,383

22,291

Total current liabilities

77,682

95,800

15,222

Non-current liabilities:

Deferred government grants

56,~~511~~409

6,~~409~~290

~~1,018~~999

Deferred tax liabilities

1114,~~700~~857

14,~~857~~666

2,~~361~~329

Total non-current liabilities

1721,~~211~~266

2120,~~266~~956

3,~~379~~328

Total liabilities

94117,~~893~~066

~~117~~161,~~066~~339

1825,~~601~~619

Equity:

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

Ordinary shares (par value of US$0.001 per share; 1,000,000,000 shares authorized as of December 31, 2011 and March 31, 2012 (unaudited); 140,401,842 shares issued and outstanding as of December 31, 2011 and 140,569,926 shares issued and outstanding as of March 31, 2012 (unaudited))

1,022

1,023

162

Additional paid-in capital

~~892~~912,~~298~~972

~~912~~916,~~972~~316

145,~~057~~505

Accumulated other comprehensive loss

(1619,~~737~~604

)

(19,~~604~~646

)

(3,~~115~~120

)

Statutory reserves

3145,~~247~~417

45,417

7,~~216~~212

Retained earnings

49156,~~480~~387

~~156~~186,~~387~~096

2429,~~847~~551

Total China Kanghui Holdings shareholders’ equity

~~957~~1,~~287~~096,194

1,~~096~~129,~~194~~206

~~174~~179,~~167~~310

Non-controlling interests

—9,018

98,~~018~~445

1,~~433~~341

Total equity

~~957~~1,~~287~~105,212

1,~~105~~137,~~212~~651

~~175~~180,~~600~~651

Total liabilities and equity

1,~~052~~222,~~180~~278

1,~~222~~298,~~278~~990

~~194~~206,~~201~~270

China Kanghui Holdings

Consolidated Statements of ~~Operations~~Comprehensive Income

Expressed in thousands, except ~~share~~for number of shares and per share data

	Three Months Ended December 31,									Year Ended December 31,
	Three Months Ended March 31,
	2010			2011						2010			2011
	2011			2012
	RMB			RMB			US$			RMB			RMB			US$
	RMBUnaudited			RMBUnaudited			US$ Unaudited
	Unaudited			Unaudited			Unaudited			Audited			Unaudited			Unaudited
Net revenue		67,975			82,713			13,134
Net revenue		72,285			96,562			15,342			242,754			326,954			51,948
Cost of revenue		(19,259	)		(24,141	)		(3,833	)
Cost of revenue		(19,981	)		(27,341	)		(4,344	)		(71,307	)		(92,454	)		(14,689	)
Gross profit		48,716			58,572			9,301
Gross profit		52,304			69,221			10,998			171,447			234,500			37,259
Operating expenses
Operating expenses:
Selling expenses		(6,988	)		(9,760	)		(1,550	)
Selling expenses		(11,273	)		(14,573	)		(2,315	)		(28,230	)		(41,572	)		(6,605	)
General and administrative expenses		(10,422	)		(14,207	)		(2,256	)
General and administrative expenses		(8,756	)		(13,203	)		(2,098	)		(29,765	)		(48,415	)		(7,692	)
Research and development expenses		(1,502	)		(3,119	)		(495	)
Research and development expenses		(1,725	)		(5,648	)		(897	)		(5,483	)		(12,167	)		(1,933	)
Operating income		29,804			31,486			5,000
Operating income		30,550			35,797			5,688			107,969			132,346			21,029
Interest income		1,719			3,867			614
Interest income		1,058			5,384			855			2,915			15,927			2,530
Government grants		2,706			151			24
Government grants		3,130			1,141			181			3,490			4,331			688
Other income		145			485			77
Other income		91			—			—			569			1,860			296
Other expenses		(397	)		(357	)		(57	)
Other expenses		(422	)		(81	)		(13	)		(735	)		(1,885	)		(299	)
Foreign exchange loss		(3,008	)		(171	)		(27	)
Foreign exchange loss		(4,259	)		(440	)		(70	)		(7,340	)		(8,564	)		(1,361	)
Income before income taxes		30,969			35,461			5,631
Income before income taxes		30,148			41,801			6,641			106,868			144,015			22,883
Income taxes		(8,982	)		(6,324	)		(1,004	)
Income tax (expense) benefit		(2,619	)		340			54			(7,161	)		(23,529	)		(3,738	)
Net income		21,987			29,137			4,627
Net income		27,529			42,141			6,695			99,707			120,486			19,145
Net (income) loss attributable to non-controlling interests		(18	)		572			91
Net loss attributable to non-controlling interests		—			203			32			—			591			94
Net income attributable to China Kanghui Holdings		21,969			29,709			4,718
Net income attributable to China Kanghui Holdings		27,529			42,344			6,727			99,707			121,077			19,239
Earnings per share
Accretion of redeemable convertible preferred shares:
Basic		0.16			0.21			0.03
Series A		—			—			—			(7,572	)		—			—
Diluted		0.15			0.19			0.03
Series B		—			—			—			(54,988	)		—			—
Shares used in earnings per share computation
Series B-1		—			—			—			(2,844	)		—			—
Basic		136,828,869			140,440,413			140,440,413
Net income attributable to ordinary shareholders		27,529			42,344			6,727			34,303			121,077			19,239
Diluted		150,864,399			155,007,387			155,007,387
Earnings per share:
Other comprehensive loss, net of tax4
Basic		0.20			0.30			0.05			0.30			0.87			0.14
Foreign currency translation adjustment		(203	)		(42	)		(7	)
Diluted		0.18			0.27			0.04			0.27			0.79			0.12
Total other comprehensive loss, net of tax		(203	)		(42	)		(7	)
Shares used in earnings per share computation:
Comprehensive income attributable to China Kanghui Holdings		21,766			29,667			4,711
Basic		136,821,600			140,401,842			140,401,842			88,408,057			139,086,102			139,086,102
Share-based compensation charges incurred during the period related to:
Diluted		150,615,232			154,311,169			154,311,169			100,346,612			153,972,265			153,972,265
Cost of revenue		50			33			5
Share-based compensation charges incurred during the period related to:
Selling expenses		112			136			22
Cost of revenue		48			48			7			191			196			30
General and administrative expenses		1,207			2,762			439
Selling expenses		107			149			23			455			478			74
Research and development expenses		48			30			5
General and administrative expenses		457			1,770			274			7,158			6,502			1,007
Total		1,417			2,961			471
Research and development expenses		49			49			8			191			197			31
Total		661			2,016			312			7,995			7,373			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 EndedDecember 31,						Year EndedDecember 31,
	Three Months EndedMarch 31,
	2010			2011			2010			2011
	2011			2012
	Unaudited			Unaudited			~~Unaudited~~			~~Unaudited~~
Net revenue		7267,~~285~~975			9682,~~562~~713			~~242,754~~			~~326,954~~
Non-GAAP net income		2823,~~190~~386			4432,~~360~~670			~~107,702~~			~~128,450~~
Non-GAAP net margin		3934.04	%		4539.95	%		~~44.4~~	%		~~39.3~~	%
Share-based compensation		(~~661~~1,417	)		(2,~~016~~961	)		~~(7,995~~	)		~~(7,373~~	)
GAAP net income		2721,~~529~~969			4229,~~344~~709			~~99,707~~			~~121,077~~
GAAP net margin		3832.13	%		4335.9	%		~~41.1~~	%		~~37.0~~	%
Non-GAAP earnings per share -basic		0.21			0.32			0.39			0.92
Non GAAP earnings per share -basic		0.17			0.23
Non-GAAP earnings per share -diluted		0.19			0.29			0.35			0.83
Non GAAP earnings per share -diluted		0.16			0.21
Non-GAAP earnings per ADS -basic		1.24			1.90			2.36			5.54
Non GAAP earnings per ADS -basic		1.03			1.40
Non-GAAP earnings per ADS -diluted		1.12			1.72			2.08			5.01
Non GAAP earnings per ADS -diluted		0.93			1.26
GAAP earnings per share -basic		0.2016			0.3021			~~0.30~~			~~0.87~~
GAAP earnings per share -diluted		0.1815			0.2719			~~0.27~~			~~0.79~~
GAAP earnings per ADS -basic		10.2196			1.8127			~~1.81~~			~~5.22~~
GAAP earnings per ADS -diluted		10.1087			1.6515			~~1.60~~			~~4.72~~
Shares used in computation of:
Basic earnings per share		136,~~821~~828,~~600~~869			140,~~401~~440,~~842~~413			~~88,408,057~~			~~139,086,102~~
Diluted earnings per share		150,~~615~~864,~~232~~399			~~154~~155,~~311~~007,~~169~~387			~~100,346,612~~			~~153,972,265~~
Basic earnings per ADS		22,~~803~~804,~~600~~812			23,~~400~~406,~~307~~736			~~14,734,676~~			~~23,181,017~~
Diluted earnings per ADS		25,~~102~~144,~~539~~067			25,~~718~~834,~~528~~565			~~16,724,435~~			~~25,662,044~~
Non-GAAP operating income		31,~~211~~221			3734,~~813~~447			~~115,964~~			~~139,719~~
Non-GAAP operating margin		4345.29	%		3941.26	%		~~47.8~~	%		~~42.7~~	%
Share-based compensation		(~~661~~1,417	)		(2,~~016~~961	)		~~(7,995~~	)		~~(7,373~~	)
GAAP operating income		3029,~~550~~804			3531,~~797~~486			~~107,969~~			~~132,346~~
GAAP operating margin		4243.38	%		3738.1	%		~~44.5~~	%		~~40.5~~	%
Non-GAAP gross profit		5248,~~352~~766			6958,~~269~~605			~~171,638~~			~~234,696~~
Non-GAAP gross margin		7271.47	%		7170.79	%		~~70.7~~	%		~~71.8~~	%
Share-based compensation		(4850	)		(4833	)		~~(191~~	)		~~(196~~	)
GAAP gross profit		5248,~~304~~716			6958,~~221~~572			~~171,447~~			~~234,500~~
GAAP gross margin		7271.47	%		7170.78	%		~~70.6~~	%		~~71.7~~	%

Filing Compare · China Kanghui Holdings