Global Cord Blood Corporation Announces Fourth Quarter and Full Year of Fiscal 2020 Results

Global Cord Blood Corporation has announced the further quarter and full year of Fiscal 2020 fiscal results. The Q4 revenues of the company increased by 19.2% YoY to RMB299.9 million. The new Subscribers of the company were 18.488. The gross profit of the company increased by 25.5% to RMB256.4 million. The gross margin of the company increased to 85.5% from 81.2% in the previous year period since April 2019.

The net income attributable of the company increased by 6.5% YoY to RMB97.0 Million. The net cash of the company provided by the operating activities decreased by 59.4% Year over Year to RMB90.0 Million due to the impact of Covid-19 pandemic and it remains challenged to recruit new subscribers.

The operating income before amortization and depreciation expense increase by 58.7% YoY to RMB161.7 Million in total.

Chief Executive Officer and Chairman of CGBC, Mr. Ting Zhen said, “Despite the difficult market conditions resulting from the unprecedented COVID-19 pandemic and a continued decrease in newborn numbers in the markets in which we operate, we managed to recruit over 84,000 new subscribers during fiscal 2020 and achieved our full-year target.”

“As the impact of COVID-19 lingers, hospitals in China have implemented strict access rules, and consumers remain cautious on interpersonal contact and discretionary spending. In addition, the regulatory uncertainties of the cord blood banking industry in China continue to exist,” Mr. Ting Zheng further added in the statement.

“Therefore, we believe that the business environment for the next fiscal year will remain challenging. However, we will continue to execute on our strategy to overcome the short-term challenges, focus on achieving operational targets, and explore business opportunities to pave a solid path for our long-term development,” Ms. Ting Zheng concluded.

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