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China Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2011
Date:6/10/2011

osen to shift our operational focus towards implementing a more favorable payment structure and providing higher quality services, which should also further enhance our cashflow generating capabilities. The management team believes that this is an appropriate time to readjust our processing fee from RMB5,000 to RMB5,800 effective for new transactions in fiscal 2012 to fit the booming economy and rising affordability in China. This marks the first upward pricing adjustment for our processing fee since 2003. We believe that this new structure is not only better aligned with our new, premium-quality strategy, but also will significantly enhance our return per subscriber. This will enable us to optimize our cash and liquidity positions while further enhancing our long-term profitability and ability to generate sustainable returns. We are also extremely excited about the prospects of our recently established Zhejiang subsidiary, which we expect to become another driving force behind our future growth."

Ms. Zheng concluded, "Moving forward, we will continue to deepen our market penetration in existing markets and actively pursue emerging opportunities to expand to new and untapped regions, while formulating the best strategies to execute our corporate development goals. We are confident that our efforts will continue to drive strong growth momentum and higher return for our shareholders."

Fiscal Year 2011 Financial ResultsFor the full year of fiscal 2011, total revenue increased by 29.8% to RMB339.5 million ($51.9 million), from RMB261.5 million in the prior year. The increase was largely attributable to the 24.9% increase in new subscribers to 56,518 and the expansion in the accumulated subscriber base to 185,830. Processing fees and storage fees grew 26.0% and 46.7%, respectively. Gross profit increased 33.9% to RMB262.2 million ($40.0 million) from RMB195.8 million in the prior year. Operating income increased 27.4% to RMB123.8 million ($18.9 million)
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SOURCE China Cord Blood Corporation
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