- Amended Statement of Changes in Beneficial Ownership (4/A)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Value Holdings Capital S.A.	2. Issuer Name and Ticker or Trading Symbol CHINA-BIOTICS, INC [ CHBT ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      __ X __ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) C/O HARNEY'S CORPORATE SERVICES LTD., CRAIGMUIR CHAMBERS, P.O. BOX 71	3. Date of Earliest Transaction (MM/DD/YYYY) 5/12/2011
(Street) ROAD TOWN, TORTOLA, D8 VG1110 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY) 5/16/2011	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								1536336	D   (1)
Common Stock	5/12/2011		P		2800	A	$11.33	2257513	I	See Footnote   (2)
Common Stock	5/12/2011		P		2800	A	$11.34	2260313	I	See Footnote   (2)
Common Stock	5/12/2011		P		3000	A	$11.35	2263313	I	See Footnote   (2)
Common Stock	5/12/2011		P		300	A	$11.36	2263613	I	See Footnote   (2)
Common Stock	5/12/2011		P		306	A	$11.37	2263919	I	See Footnote   (2)
Common Stock	5/12/2011		P		100	A	$11.375	2264019	I	See Footnote   (2)
Common Stock	5/12/2011		P		1200	A	$11.38	2265219	I	See Footnote   (2)
Common Stock	5/12/2011		P		2398	A	$11.39	2267617	I	See Footnote   (2)
Common Stock	5/12/2011		P		100	A	$11.395	2267717	I	See Footnote   (2)
Common Stock	5/12/2011		P		3500	A	$11.4	2271217	I	See Footnote   (2)
Common Stock	5/12/2011		P		302	A	$11.405	2271519	I	See Footnote   (2)
Common Stock	5/12/2011		P		1544	A	$11.41	2273063	I	See Footnote   (2)
Common Stock	5/12/2011		P		2556	A	$11.42	2275619	I	See Footnote   (2)
Common Stock	5/12/2011		P		5394	A	$11.43	2281013	I	See Footnote   (2)
Common Stock	5/12/2011		P		5102	A	$11.44	2286115	I	See Footnote   (2)
Common Stock	5/12/2011		P		100	A	$11.445	2286215	I	See Footnote   (2)
Common Stock	5/12/2011		P		2220	A	$11.45	2288435	I	See Footnote   (2)
Common Stock	5/12/2011		P		1104	A	$11.46	2289539	I	See Footnote   (2)
Common Stock	5/12/2011		P		1106	A	$11.47	2290645	I	See Footnote   (2)
Common Stock	5/12/2011		P		2339	A	$11.48	2292984	I	See Footnote   (2)
Common Stock	5/12/2011		P		1950	A	$11.49	2294934	I	See Footnote   (2)
Common Stock	5/12/2011		P		1300	A	$11.5	2296234	I	See Footnote   (2)
Common Stock	5/12/2011		P		3862	A	$11.51	2300096	I	See Footnote   (2)
Common Stock	5/12/2011		P		2700	A	$11.52	2302796	I	See Footnote   (2)
Common Stock	5/12/2011		P		3963	A	$11.53	2306759	I	See Footnote   (2)
Common Stock	5/12/2011		P		3974	A	$11.54	2310733	I	See Footnote   (2)
Common Stock	5/12/2011		P		100	A	$11.545	2310833	I	See Footnote   (2)
Common Stock	5/12/2011		P		8138	A	$11.55	2318971	I	See Footnote   (2)
Common Stock	5/12/2011		P		3412	A	$11.56	2322383	I	See Footnote   (2)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
( 1)	VALUE HOLDINGS CAPITAL, S.A. AND VALUE ASSETS INTERNATIONAL, S.A. ARE WHOLLY OWNED AND CONTROLLED BY RICHARD E. AZAR AS SUCH, HE MAY BE DEEMED THE INDIRECT BENEFICIAL OWNER OF THE COMMON SHARES OWNED DIRECTLY BY VALUE HOLDINGS CAPITAL, S.A. AND VALUE ASSET INTERNATIONAL, S.A.
( 2)	DIRECT OWNERSHIP BY VALUE ASSET INTERNATIONAL, S.A. BOTH VALUE ASSET INTERNATIONAL AND VALUE HOLDINGS OWNED BY RICHARD AZAR.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Value Holdings Capital S.A. C/O HARNEY'S CORPORATE SERVICES LTD. CRAIGMUIR CHAMBERS, P.O. BOX 71 ROAD TOWN, TORTOLA, D8 VG1110		X
Azar Richard Essa 7-9 ST. CLAIR PLACE, 2ND FLOOR ST. CLAIRE AVENUE PORT OF SPAIN, W5		X
Value Assets International, S.A. C/O HARNEY'S CORPORATE SERVICES LTD. CRAIGMUIR CHAMBERS, P.O. BOX 71 ROAD TOWN, TORTOLA, D8		X

Signatures
/s/ Allan Lerner Attorney-in-fact		5/17/2011
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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