-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JBax5WZm1QK8dv5rdWxSt7of581rSgdGEZD0IjmkT9q14Y/0yIFMK5LhaG2dxLDn JHO9yHKqAsFBTGpQwnaLyQ== 0000922907-08-000094.txt : 20080214 0000922907-08-000094.hdr.sgml : 20080214 20080214170803 ACCESSION NUMBER: 0000922907-08-000094 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080214 DATE AS OF CHANGE: 20080214 GROUP MEMBERS: JAWHAWK PRIVATE EQUITY FUND, L.P. (20-5004931) GROUP MEMBERS: JAYHAWK CAPITAL MANAGEMENT, L.L.C. (48-1172612) GROUP MEMBERS: JAYHAWK PRIVATE EQUITY CO-INVEST FUND, L.P. (20-5249125) GROUP MEMBERS: JAYHAWK PRIVATE EQUITY GP, L.P. (20-5005219) GROUP MEMBERS: KENT C. MCCARTHY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Shengtai Pharmaceutical, Inc. CENTRAL INDEX KEY: 0001295079 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-82846 FILM NUMBER: 08618624 BUSINESS ADDRESS: STREET 1: CHANGDA ROAD EAST, STREET 2: DEVELOPMENT DISTRICT, CHANGLE COUNTY, CITY: SHANDONG, STATE: F4 ZIP: 262400 BUSINESS PHONE: 011-86-536-2182777 MAIL ADDRESS: STREET 1: CHANGDA ROAD EAST, STREET 2: DEVELOPMENT DISTRICT, CHANGLE COUNTY, CITY: SHANDONG, STATE: F4 ZIP: 262400 FORMER COMPANY: FORMER CONFORMED NAME: West Coast Car CO DATE OF NAME CHANGE: 20040623 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JAYHAWK CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001002078 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 8201 MISSION RD STREET 2: SUITE 110 CITY: PRAIRIE VILLAGE STATE: KS ZIP: 66208 BUSINESS PHONE: 9136422611 MAIL ADDRESS: STREET 1: 8201 MISSION RD STREET 2: SUITE 110 CITY: PRAIRIE VILLAGE STATE: KS ZIP: 66208 SC 13G 1 sch13g_021408.htm Schedule 13G - Shengtai Pharmaceutical, Inc. 

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934*

                          Shengtai Pharmaceutical, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                    Common Stock, par value $0.001 per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    823214101
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

                                  May 15, 2007
- --------------------------------------------------------------------------------
             (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).



- ----------------------------
CUSIP No.  823214101      -
- ----------------------------

- ---------- ---------------------------------------------------------------------
    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          -        Common Stock equal to less than 5%
    OWNED BY EACH         - ----- ----------------------------------------------
      REPORTING           -   7    SOLE DISPOSITIVE POWER
       PERSON             -        0
        WITH:             - ----- ----------------------------------------------
                          -   8    SHARED DISPOSITIVE POWER
                          -        Common Stock equal to less than 5%
- --------------------------- ----- ----------------------------------------------
   9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           Common Stock equal to less than 5% (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
           Less than 5%
- ---------- ---------------------------------------------------------------------
   12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           PN
- ---------- ---------------------------------------------------------------------

                                       1



- ----------------------------
CUSIP No.  823214101      -
- ----------------------------

- ---------- ---------------------------------------------------------------------
    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          -        Common Stock equal to less than 5%
    OWNED BY EACH         - ----- ----------------------------------------------
      REPORTING           -   7    SOLE DISPOSITIVE POWER
       PERSON             -        0
        WITH:             - ----- ----------------------------------------------
                          -   8    SHARED DISPOSITIVE POWER
                          -        Common Stock equal to less than 5%
- --------------------------- ----- ----------------------------------------------
   9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           Common Stock equal to less than 5% (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
           Less than 5%
- ---------- ---------------------------------------------------------------------
   12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           PN
- ---------- ---------------------------------------------------------------------

                                       2



- ----------------------------
CUSIP No.  823214101      -
- ----------------------------

- ---------- ---------------------------------------------------------------------
    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          -        Common Stock equal to less than 5%
    OWNED BY EACH         - ----- ----------------------------------------------
      REPORTING           -   7    SOLE DISPOSITIVE POWER
       PERSON             -        0
        WITH:             - ----- ----------------------------------------------
                          -   8    SHARED DISPOSITIVE POWER
                          -        Common Stock equal to less than 5%
- --------------------------- ----- ----------------------------------------------
   9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           Common Stock equal to less than 5% (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
           Less than 5%
- ---------- ---------------------------------------------------------------------
   12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           PN
- ---------- ---------------------------------------------------------------------

                                       3



- ----------------------------
CUSIP No.  823214101      -
- ----------------------------

- ---------- ---------------------------------------------------------------------
    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          -        Common Stock equal to less than 5%
    OWNED BY EACH         - ----- ----------------------------------------------
      REPORTING           -   7    SOLE DISPOSITIVE POWER
       PERSON             -        0
        WITH:             - ----- ----------------------------------------------
                          -   8    SHARED DISPOSITIVE POWER
                          -        Common Stock equal to less than 5%
- --------------------------- ----- ----------------------------------------------
   9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           Common Stock equal to less than 5% (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
           Less than 5%
- ---------- ---------------------------------------------------------------------
   12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           OO
- ---------- ---------------------------------------------------------------------

                                       4



- ----------------------------
CUSIP No.  823214101      -
- ----------------------------

- ---------- ---------------------------------------------------------------------
    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
           Delaware
- --------------------------- ----- ----------------------------------------------
                          -   5    SOLE VOTING POWER
                          -        0
      NUMBER OF           - ----- ----------------------------------------------
       SHARES             -   6    SHARED VOTING POWER
    BENEFICIALLY          -        Common Stock equal to less than 5%
    OWNED BY EACH         - ----- ----------------------------------------------
      REPORTING           -   7    SOLE DISPOSITIVE POWER
       PERSON             -        0
        WITH:             - ----- ----------------------------------------------
                          -   8    SHARED DISPOSITIVE POWER
                          -        Common Stock equal to less than 5%
- --------------------------- ----- ----------------------------------------------
   9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           Common Stock equal to less than 5% (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
           Less than 5%
- ---------- ---------------------------------------------------------------------
   12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           IN
- ---------- ---------------------------------------------------------------------

                                       5



Item 1(a)  Name of Issuer:

     Shengtai Pharmaceutical, Inc.

Item 1(b)  Address of Issuer's Principal Executive Offices:

     Changda Road East, Development District, Changle County
     Shandong, P.R.C. 262400

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 $0.001 per share

Item 2(e)  CUSIP Number:

     823214101

Item 3  The Reporting Person is:

     Not Applicable

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.

                                       6



I. The information below is as of the date of this filing.

(a) Amount beneficially owned:
         1. Jayhawk Private Equity Fund, L.P.: Common Stock equal to less than 5%
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: Common Stock equal to
            less than 5%
         3. Jayhawk Private Equity GP, L.P.: Common Stock equal to less than 5%
         4. Jayhawk Capital Management, L.L.C.: Common Stock equal to less than 5%
         5. Kent C. McCarthy: Common Stock equal to less than 5%

(b) Percent of class:
         1. Jayhawk Private Equity Fund, L.P.: Less than 5%
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: Less than 5%
         3. Jayhawk Private Equity GP, L.P.: Less than 5%
         4. Jayhawk Capital Management, L.L.C.: Less than 5%
         5. Kent C. McCarthy: Less than 5%

Percent of class is based on 19,096,805  outstanding shares of common stock, par
value $0.001 per share, as reported by Shengtai Pharmaceutical, Inc. on its Form
S-8, as filed with the Securities and Exchange Commission on January 30, 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.: Common Stock equal to less than 5%
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: Common Stock equal to
            less than 5%
         3. Jayhawk Private Equity GP, L.P.: Common Stock equal to less than 5%
         4. Jayhawk Capital Management, L.L.C.: Common Stock equal to less than 5%
         5. Kent C. McCarthy: Common Stock equal to less than 5%

     (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.: Less than 5%
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: Less than 5%
         3. Jayhawk Private Equity GP, L.P.: Less than 5%
         4. Jayhawk Capital Management, L.L.C.: Less than 5%
         5. Kent C. McCarthy: Less than 5%

                                       7



II. The information below is as of December 31, 2007.

(a) Amount beneficially owned:
         1. Jayhawk Private Equity Fund, L.P.: 903,283 *
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 56,872 **
         3. Jayhawk Private Equity GP, L.P.: 960,155 ***
         4. Jayhawk Capital Management, L.L.C.: 960,155 ***
         5. Kent C. McCarthy: 960,155 ***

(b) Percent of class:
         1. Jayhawk Private Equity Fund, L.P.: 4.8%
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0.3%
         3. Jayhawk Private Equity GP, L.P.: 5.1%
         4. Jayhawk Capital Management, L.L.C.: 5.1%
         5. Kent C. McCarthy: 5.1%

Percent of class is based on 18,962,500  outstanding shares of common stock, par
value $0.001 per share, as reported by Shengtai Pharmaceutical, Inc. on its Form
10-Q for the period ended  September 30, 2007, as filed with the  Securities and
Exchange Commission on November 14, 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.: 903,283 *
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 56,872 **
         3. Jayhawk Private Equity GP, L.P.: 960,155 ***
         4. Jayhawk Capital Management, L.L.C.: 960,155 ***
         5. Kent C. McCarthy: 960,155 ***

     (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

                                       8



     (iv) Shared power to dispose or to direct the disposition of:
         1. Jayhawk Private Equity Fund, L.P.: 903,283 *
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 56,872 **
         3. Jayhawk Private Equity GP, L.P.: 960,155 ***
         4. Jayhawk Capital Management, L.L.C.: 960,155 ***
         5. Kent C. McCarthy: 960,155 ***

* Includes  432,899  shares of common  stock,  par value  $0.001 per share,  and
470,384 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.

** Includes  27,256  shares of common  stock,  par value  $0.001 per share,  and
29,616 warrants to purchase common stock that are exercisable  within 60 days of
the filing of this report.

*** Includes  432,899  shares of common stock,  par value $0.001 per share,  and
470,384 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
27,256 shares of common stock,  par value $0.001 per share,  and 29,616 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.

III. The  information  below is as of May 15, 2007,  the date of the event which
requires filing this statement.

(a) Amount beneficially owned:
         1. Jayhawk Private Equity Fund, L.P.: 1,411,151*
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 88,849 **
         3. Jayhawk Private Equity GP, L.P.: 1,500,000 ***
         4. Jayhawk Capital Management, L.L.C.: 1,500,000 ***
         5. Kent C. McCarthy: 1,500,000 ***

(b) Percent of class:
         1. Jayhawk Private Equity Fund, L.P.: 7.5%
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 0.5%
         3. Jayhawk Private Equity GP, L.P.: 7.9%
         4. Jayhawk Capital Management, L.L.C.: 7.9%
         5. Kent C. McCarthy: 7.9%

Percent of class is based on 18,875,500  outstanding shares of common stock, par
value $0.001 per share, as reported by Shengtai Pharmaceutical, Inc. on its Form
8-K, as filed with the Securities and Exchange Commission on May 21, 2007.

(c) Number of shares as to which the person has:

     (iii) 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

                                       9



     (ii) Shared power to vote or direct the vote:
         1. Jayhawk Private Equity Fund, L.P.: 1,411,151*
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 88,849 **
         3. Jayhawk Private Equity GP, L.P.: 1,500,000 ***
         4. Jayhawk Capital Management, L.L.C.: 1,500,000 ***
         5. Kent C. McCarthy: 1,500,000 ***

     (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.: 1,411,151*
         2. Jayhawk Private Equity Co-Invest Fund, L.P.: 88,849 **
         3. Jayhawk Private Equity GP, L.P.: 1,500,000 ***
         4. Jayhawk Capital Management, L.L.C.: 1,500,000 ***
         5. Kent C. McCarthy: 1,500,000 ***

* Includes  940,767  shares of common  stock,  par value  $0.001 per share,  and
470,384 warrants to purchase common stock that are exercisable within 60 days of
the filing of this report.

** Includes  59,233  shares of common  stock,  par value  $0.001 per share,  and
29,616 warrants to purchase common stock that are exercisable  within 60 days of
the filing of this report.

*** Includes  940,767  shares of common stock,  par value $0.001 per share,  and
470,384 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
59,233 shares of common stock,  par value $0.001 per share,  and 29,616 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:

     If this  statement  is being  filed to report  the fact that as of the date
     hereof the reporting  person has ceased to be the beneficial  owner of more
     than 5% of the class of securities, check the following:

     [X]

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

                                       10



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.

                                       11



                                    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.
                                                       ---------------------------------

                                       12



                                                                       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 Shengtai Pharmaceutical,  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.
                                                       ---------------------------------
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