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China Cord Blood Corporation to Hold Annual General Meeting in Hong Kong on December 19, 2011
Oct 14, 2011 07:00:00 (ET)
HONG KONG, Oct. 14, 2011 /PRNewswire via COMTEX/ -- China Cord Blood Corporation (CO, Trade ) ("CCBC" or "the Company"), the first and largest cord blood banking operator in China, today announced that the Company will hold its annual general meeting of shareholders at its Hong Kong office at 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong, at 9:00 p.m. Hong Kong Time on December 19, 2011 (8:00 a.m. U.S. Eastern Time on December 19)(8:2011).
Shareholders of record as of November 9, 2011 will be entitled to receive notice of and vote at the annual general meeting. China Cord Blood Corporation filed its annual report on Form 20-F, including its audited financial statements for the fiscal year ended March 31, 2011, with the U.S. Securities and Exchange Commission (the "SEC") on September 28, 2011. CCBC's annual report on Form 20-F can be accessed at the Investor Center section of the Company's website at http://www.chinacordbloodcorp.com , as well as on the SEC's website at http://www.sec.gov . Shareholders may request a meeting notice, proxy statement and hard copy of the annual report on Form 20-F free of charge by contacting ir@chinacordbloodcorp.com.
China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced that the Company has filed with the U.S. Securities and Exchange Commission its Annual Report on Form 20-F, which included audited financial statements for the fiscal year ended March 31, 2011. The Form 20-F can be accessed by visiting the U.S. Securities and Exchange Commission's website at www.sec.gov and can also be found at the Investor Relations Section of CCBC's website at http://ir.chinacordbloodcorp.com. CCBC will provide a hard copy of the Annual Report, including a complete set of audited financial statements, free of charge to its shareholders upon request.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the U.S. Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
In New York: Ashley Ammon De Simone: 1-646-277-1227
I'm convinced the only reason this isn't higher is due to being China related. So many investors fear anything China or Asian related after being burned by all the scams out there.
You're in good company. They have quite the group of institutional holders. But, the Golden Meditech Holdings haven't been reflected yet on Yahoo.
Golden Meditech Increase Stake in NYSE-listed Affiliate - China Cord Blood Corporation to 40.9%
Sep 28, 2011 09:10:00 (ET)
HONG KONG, Sept. 28, 2011 /PRNewswire via COMTEX/ -- Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," - 801.HK; 910801.TW), China's leading integrated healthcare enterprise, today announced that the Group has continued to increase its ownership in its NYSE-listed affiliate, China Cord Blood Corporation ("CCBC," - CO.US) from the open market. As a result of which the Group now owns 40.9% of the issued share capital of CCBC from the previous 39.5%.
CCBC is the largest cord blood banking operator in China and is the only one with multiple exclusive licenses including Beijing Municipal, Guangdong Province and Zhejiang Province, with approximately 20% stake in the exclusive operator in Shandong Province.
Mr. Kam YUEN, Chairman and Chief Executive Officer of the Group, said, "We are proud to see that CCBC has sustained strong steady growth and profitability in its initial markets in Beijing and Guangdong while continuously deliver positive news on new market expansions since its initial public offering. As the founding and largest shareholder of CCBC, we remain optimistic of CCBC's prospects in both China and Asia Pacific and are duly confident in the capability of its management team. We see considerable room for CCBC to further enhance market penetration with steady growth and market development."
Under the "one-license-per-region" regulatory framework, the government has issued seven exclusive operating licenses thus far. The strategic coverage of CCBC's current operation in Beijing, Zhejiang and Guangdong has enabled it to capture key strategic economic strongholds in the affluent eastern coastline of China.
About Golden Meditech Holdings Limited
Golden Meditech Holdings Limited is China's leading integrated-healthcare devices and service operator, and the first medical device enterprise that was publicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited (HKEx) and the Taiwan Stock Exchange (TSE). Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets over the years, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.
Investor Relations Department Golden Meditech Holdings Limited Address: 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong Tel: +852 3605 8180 Fax: +852 3605 8181 Email: ir@goldenmeditech.com
China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced that the Company will participate in the following investor conferences:
•The Morgan Stanley Global Healthcare Conference, to be held September 13-14, 2011 at the Grand Hyatt New York, and the Morgan Stanley China Healthcare Day, to be held September 15, 2011 at the Four Seasons Hotel in Boston. Management is scheduled to present and to meet with institutional investors throughout both days of both conferences. •The UBS Global Life Sciences Conference, to be held September 19-21, 2011 at the Grand Hyatt New York. Management is scheduled to present and to meet with institutional investors throughout the first two days of the conference. For further details, please contact your respective institutional sales representatives.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law
Tel: +852-3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
In New York: Ashley Ammon De Simone: +1-646-277-1227
China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced its preliminary unaudited financial results for the first quarter of fiscal year 2012, which ended June 30, 2011.
First Quarter of Fiscal 2012 Highlights
•Revenue for the first quarter of fiscal 2012 increased by 22.0% to RMB87.5 million ($13.5 million) from RMB71.7 million in the prior year period. •New subscriber sign-ups and accumulated subscriber base reached 12,828 and 198,658, respectively. •Gross profit increased by 24.1% to RMB67.6 million ($10.5 million) from RMB54.4 million from the prior year period. •Gross margin was 77.3%, compared to 75.9% for the prior year period. •Operating income increased by 31.7% to RMB30.8 million ($4.8 million) from RMB23.4 million for the prior year period. •Net income attributable to shareholders, inclusive of dividend income of RMB7.2 million ($1.1 million) from Shandong Cord Blood Bank and effect of the preferential tax treatment obtained by the Guangdong subsidiary resulting in a discrete tax benefit of RMB10.2 million ($1.6 million), was RMB40.0 million ($6.2 million), compared to RMB17.6 million in the prior year period. "Our first quarter delivered strong financial performance driven by sustained growth in subscriber demand year-over-year following the upward price adjustment implemented in April 2011," stated Ms. Zheng, Chairperson and Chief Executive Officer of CCBC. "Our strategy to develop a strong sales network while broadening our commercial reach has built a widely-recognized brand and an easily accessible network that will greatly facilitate our efforts to attract new subscribers."
"In addition to solid financial performance, this quarter had several exciting developments," Ms. Zheng further commented. "The Ministry of Health has issued new guidelines extending the 'Ten Licenses Policy', which reiterated that no more than ten licenses will be issued for the provision of cord blood banking services through 2015. We welcome the policy extension as it sets a clear guideline for the industry and the general public. With access to three licenses and our 19.92% investment in Shandong Cord Blood Bank, we are fully committed to the development of the cord blood banking industry in China and will continue to grow by driving subscriber penetration rates. We are also pleased that our Guangdong subsidiary has been approved as a 'High and New Technology Enterprise', with the result that it now enjoys a reduced tax rate of 15% until December 31, 2012."
Summary - The Quarters Ended June 30, 2010 and 2011
Three Months Ended
June 30,
2010 2011
(in thousands) RMB RMB USD
Revenue 71,696 87,458 13,531
Gross Profit 54,444 67,590 10,457
Operating Income 23,355 30,752 4,757
Net Income Attributable to Shareholders 17,586 40,022 6,192
EPS
– Basic (RMB/USD Cents) 0.26 0.53 0.08
Revenue Breakdown (%)
Processing Fee 79.1% 74.2%
Storage Fee 20.9% 25.8%
New Subscribers (persons) 12,180 12,828
Accumulated Total Number of Subscribers (persons) 141,492 198,658
First Quarter Fiscal 2012 Financial Results
REVENUE. Revenue increased by 22.0% to RMB87.5 million ($13.5 million) in the first quarter of fiscal 2012 from RMB71.7 million in the prior year period. The strong revenue growth was driven by continued growth in new subscribers and an increase in the Company's processing fee implemented in April 2011.
Revenue generated from processing fees increased to RMB64.9 million ($10.0 million) from RMB56.7 million in the prior year period, reflecting 12,828 new subscriber sign-ups this quarter, a 5.3% increase in new subscribers from the prior year period, as well as the effect of the processing fee increase.
Revenue generated from storage fees increased to RMB22.6 million ($3.5 million) from RMB15.0 million, which accounted for 25.8% of the total first quarter revenue as compared to 20.9% in the prior year period. The Company's accumulated subscriber base grew 40.4% year-over-year to 198,658, backed by continued strong demand from the Beijing and Guangdong markets.
GROSS PROFIT. Gross profit in the first quarter increased by 24.1% to RMB67.6 million ($10.5 million) from RMB54.4 million in the prior year period. Gross margin reached 77.3%, primarily reflecting greater revenue contribution from higher margin storage fees.
OPERATING INCOME. Operating income for the first quarter increased 31.7% to RMB30.8 million ($4.8 million) from RMB23.4 million in the prior year period, driven by economies of scale, successful cost control measures, and the sustained subscriber base growth. Operating margin rose 260 basis points to 35.2% from 32.6% in the prior year period. Depreciation and amortization expenses for the first quarter were RMB7.1 million ($1.1 million).
Research and Development Expenses. Research and development expenses were RMB1.8 million ($0.3 million), compared to RMB1.5 million in the prior year period.
Sales and Marketing Expenses. Sales and marketing expenses increased by 24.9% to RMB12.6 million ($2.0 million) from RMB10.1 million from the prior year period as the Company continued to roll-out marketing and promotional activities in the Beijing Municipality and Guangdong Province to further drive greater market penetration. Sales and marketing expenses accounted for 14.4% of revenue.
General and Administrative Expenses. General and administrative expenses were RMB22.5 million ($3.5 million), compared to RMB19.5 million in the prior year period. General and administrative expenses as a percentage of revenue dropped to 25.7% as compared to 27.1% during the prior year period, as a result of effective cost control measures and strong revenue performance which led revenue growth to outpace general and administrative expenses growth.
OTHER INCOME. The Company received dividend income of RMB7.2 million ($1.1 million) in the first quarter of fiscal 2012 from the investment in Shandong Cord Blood Bank, in which the Company has accounted for the investment under cost method.
NET INCOME ATTRIBUTABLE TO SHAREHOLDERS. Aside from the solid growth in operating income and the first-time dividend income from Shandong Cord Blood Bank, the Company also recorded a discrete tax benefit of RMB10.2 million ($1.6 million) pursuant to the award of preferential tax treatment for the Company's Guangdong subsidiary in June 2011, which is effective retroactively from January 1, 2010. As a result, net income attributable to shareholders for the first quarter of fiscal 2012 rose 127.6% to RMB40.0 million ($6.2 million) from RMB17.6 million for the prior year period. Net margin for the first quarter of fiscal 2012 was 45.8%. Basic earnings per share for the first quarter of fiscal 2012 were RMB0.53 ($0.08).
LIQUIDITY. As of June 30, 2011, the Company had cash and cash equivalents of RMB643.1 million ($99.5 million) as compared to RMB611.4 million as of March 31, 2011. The Company had bank loan borrowing of RMB45.0 million ($7.0 million) as of June 30, 2011.
"We are pleased with our financial performance as we rebranded ourselves as a "Premium Healthcare Service Provider" with a more favorable payment method and higher price points," Ms. Zheng stated. "We believe this new payment structure will improve our operating cash flow and further strengthen our liquidity position. While we continue to monitor market reactions, the initial market response has been encouraging. We believe strong demand for our services, coupled with our recurring revenue structure, will enable us to continue to expand margins and deliver higher profits for our shareholders."
Ms. Zheng concluded, "We have consistently demonstrated our abilities to develop and penetrate the Beijing and Guangdong regions since entering into these key markets in China. We have a highly-scalable business model with recurring revenues that will continue to grow in proportion to our expanding subscriber base. In addition to enabling consistent growth, our unique model has also created escalating margins and attractive returns. Beijing and Guangdong will provide a stable and profitable foundation that is enhanced by additional future growth potential as we expand into other regions in China. Our exclusive access to multiple regions in China not only differentiates us from our peers but also grants us access to an addressable market of 1.8 million newborns per annum. Going forward, we will continue to strive to enhance our operational efficiency, expand our profit margins, deepen market penetration, enhance brand recognition, optimize cost structure, and expand our subscriber base in our existing markets. As a premium healthcare services provider, our management team is confident that we will continue to deliver long-term growth and consistent returns for our shareholders."
Conference Call
The Company will hold a conference call at 8:00 a.m. ET on Tuesday, August 30, 2011 to discuss its financial performance and give a brief overview of the Company's recent developments, followed by a question and answer session. Interested parties may access the audio webcast through the Company's IR website at ir.chinacordbloodcorp.com. A replay of the webcast will be accessible two hours after the presentation and available for three weeks at the same URL link above. Listeners may also access the call by dialing 1-718-354-1231 or 1-866-519-4004 for US callers or +852-2475-0994 for Hong Kong callers, access code: 88154912.
China Cord Blood Corporation (NYSE: CO) ("the Company") today announced its plan to release financial results for the first quarter of fiscal year 2012 on Monday, August 29, 2011, after market close in the US.
The Company will hold a conference call at 8:00 a.m. ET on Tuesday, August 30, 2011 to discuss its financial performance and give a brief overview of the Company's recent developments, followed by a question and answer session. Interested parties may access the audio webcast through the Company's IR website at http://ir.chinacordbloodcorp.com. A replay of the webcast will be accessible two hours after the presentation and available for three weeks at the same URL link above. Listeners may also access the call by dialing 1-718-354-1231 or 1-866-519-4004 for US callers or +852-2475-0994 for Hong Kong callers, access code: 88154912.
Please dial in ten minutes prior to the conference call to ensure proper connection, and be prepared to provide your name and company to the operator.
Supplemental financial information referenced in the conference call and the first quarter fiscal 2012 earnings press release will be available at http://www.chinacordbloodcorp.com, in the section titled Investor Center/Press Release, after 4:00 p.m. ET on Monday, August 29, 2011.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit the Company's website at http://www.chinacordbloodcorp.com.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law Tel: (+852) 3605-8180 Email: ir@chinacordbloodcorp.com
ICR, Inc. In New York: Ashley De Simone: 1-646-277-1227 In Beijing: Wen Lei Zheng: +86-10-6583-7510
China based equity research firm Byronic Research is initiating coverage on China Cord Blood (NYSE: CO).
We will be publishing one piece of information and related analysis every few days over the next month or so.
Using this approach, we hope to draw attention to important facts about the company without creating unnecessary volatility or hysteria. What regular readers will see over this time is a pattern of irregularities and inconsistencies that cast doubt in our minds about the current market value of the company.
We are not short sellers. We hold no position - long or short - in the company.
If you are interested in obtaining our research before it is published, please contact us or discuss here.
Rodman & Renshaw terminates its China Cord Blood (NYSE: CO) coverage in a research report published today. Rodman & Renshaw's last rating for China Cord Blood was a Market Outperform / Speculative Risk rating and a $6 price target. In the report, Rodman & Renshaw states, "Effective immediately, we are terminating coverage of China Cord Blood Corp (CCBC) to better distribute resources throughout our coverage universe." Shares of China Cord Blood closed today at $3.55, up 1.45% from Thursday's market close.
We are the leading provider of cord blood banking services in China. We provide cord blood storage services for expectant parents interested in capturing the opportunities made available by evolving medical treatments and technologies such as cord blood transplants. We also preserve cord blood units donated by the public, provide matching services on such donated units and deliver matching units to patients in need of transplants. Our Beijing-based subsidiary, Beijing Jiachenhong Biological Technologies Co., Ltd., or Jiachenhong, was the operator of the first licensed cord blood bank in China. As a matter of policy, the PRC government only grants one cord blood banking license per province or municipality. According to a policy paper published by China’s Ministry of Health in December 2005, the PRC government intends to authorize up to ten cord blood banks. To date, it has authorized seven such licenses. Our operations currently benefit from multiple exclusive cord blood banking licenses issued in China, including our licenses for Beijing and Guangdong, and we have entered into a framework agreement to form and obtain 90% ownership in a non-wholly owned subsidiary that will become the operator of the Zhejiang Cord Blood Bank, the sole licensed cord blood bank in Zhejiang province. We also have an investment in a 19.9% equity interest in Qilu Stem Cells Engineering Company Limited, the operator of the exclusive licensed cord blood bank in Shandong province.
Our cord blood banking network is the largest in China. The aggregate number of births in Beijing, Guangdong, Zhejiang and Shandong provinces was estimated to be 2.8 million in 2008, accounting for approximately 73% of the total newborn population in the seven provinces and municipalities that have been authorized or issued cord blood banking licenses to date, according to the National Bureau of Statistics of China. We believe our leading market position and track record of growing our subscriber base position us well to continue to expand our presence in China. With a newborn population of 18.7 million in 2009, China had the second largest newborn population in the world, according to the CIA World Factbook. Cord blood banking as a precautionary healthcare measure is still a relatively new concept in China, with penetration rates that we estimate to be less than 1% of China’s overall newborn population. We expect the demand for cord blood banking services will grow significantly due to factors such as rapidly rising disposable income in the PRC, China’s one-child policy, and increasing public awareness of the benefits of cord blood and haematopoietic stem cell related therapies. Furthermore, our position as the single largest shareholder with 19.1% equity interest in CordLife Limited, or CordLife, the largest cord blood banking operator in Southeast Asia, provides the foundation for further expansion into attractive markets such as India, Indonesia and the other countries in Southeast Asia.
We have developed a highly effective sales and marketing platform that has enabled us to consistently grow our cord blood subscriber base in the markets we serve. Our 297-person sales team has direct access to expectant parents through exclusive collaboration with 220 hospitals in Beijing and Guangdong. We also cooperate with local government family planning agencies and utilize a variety of marketing programs, including media advertising, seminars and pre-natal classes, to further educate expectant parents on the benefits of cord blood banking. Our subscriber base has grown from 10,975 in March 2006 to 141,492 in June 2010.
We generate substantially all of our revenues from subscription fees. The standard payment arrangement for our services consists of processing fees payable at the time of subscription and storage fees payable by our subscribers on an annual basis for as long as the contracts remain effective, which typically have a contract period of 18 years. The contracts can be terminated early by the parents at each anniversary of the contract or further extended, at the option of the children, after reaching adulthood. This payment structure provides us with a steady stream of recurring revenue and cash flow. The proportion of our storage fee revenue increased
China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), the first and largest cord blood banking operator in China, today announced that the Company repurchased an aggregate of 2,052,607 ordinary shares. The purchases were made at an average purchase price of $3.49 per share, for a total consideration of approximately $7.2 million between September 2010 and July 2011. The total number of shares repurchased represents approximately 47.7% of the total authorized amount under the current buyback program, which will be effective until September 30, 2011. Approximately $7.8 million still remains available for purchases under the current buyback plan.
Ms. Ting Zheng, Chairperson and CEO of CCBC, stated, "Our operational and financial performance has demonstrated consistently strong growth. As our operations continue to expand across various regions within China, we will continue to capitalize on the growing business opportunities in China to maintain this growth momentum. We strongly believe that our current market valuation has yet to reflect our growth plans and intrinsic value. Thus, the management team considers the buyback program an excellent opportunity and in the best interest of the Company and its shareholders. Moving forward, we will continue to explore various means and initiatives to add value to the Company for our shareholders."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.
For more information, please contact:
China Cord Blood Corporation
Ms. Joeling Law
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
In New York: Ashley Ammon De Simone: 1-646-277-1227
Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," - 801.HK; 910801.TW), China's leading integrated healthcare enterprise, today announced that the Group has accumulated 754,791 ordinary shares in its NYSE-listed affiliate, China Cord Blood Corporation ("CCBC," - CO.US) from the open market between December 2010 and March 2011. As a result of which the Group now owns 39.5% of the issued share capital of CCBC.
CCBC is the largest cord blood banking operator in China and is the only one with multiple exclusive operating licenses including Beijing Municipal, Guangdong Province and Zhejiang Province, with approximately 20% stake in the exclusive operator in Shandong Province. Moreover, CCBC also has a strategic interest and single largest shareholding in "Cordlife," the largest cord blood banking operator in Asia Pacific markets.
Mr. Kam YUEN, Chairman and Chief Executive Officer of the Group, said, "We are proud to see that CCBC has sustained strong steady growth and profitability in its initial markets in Beijing and Guangdong while continuously deliver positive news on new market expansions since its initial public offering. As the founding and largest shareholder of CCBC, we remain optimistic of CCBC's prospects in both China and Asia Pacific and are duly confident in the capability of its management team."
CCBC reported strong revenue growth of 29.8% at RMB340 million for the fiscal year ended March 31, 2011 and a gross margin of 77.2%, while profit attributable to shareholders increased by 86.5% at RMB91.7 million under US GAAP.
Under the "one-license-per-region" regulatory framework, the government has issued seven exclusive operating licenses thus far. The strategic coverage of CCBC's current operation in Beijing, Shangdong, Zhejiang and Guangdong has enabled it to capture four key strategic economic strongholds in the affluent eastern coastline of China, with a combined annual birth rate totaling 29 million.
Mr. Kam highlighted, "We see considerable room for CCBC to further enhance market penetration with steady growth and market development. Its potential and profitability prospects remain impressive."
About Golden Meditech Holdings Limited
Golden Meditech Holdings Limited is China's leading integrated-healthcare device and service operator, and the first medical device enterprise that was publicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited (HKEx). Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets over the years, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.
For enquiries, please contact:
Investor Relations Department
Golden Meditech Holdings Limited Address: 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong Tel: +852-3605-8180 Fax: +852-3605-8181 Email: ir@goldenmeditech.com
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