Golden Meditech Announces Financial Year 2008/09 Annu...( HONG KONG June 30 Asia-FirstCall/...),Health

HONG KONG, June 30 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Company Limited ("Golden Meditech" or the "Group"; Stock Code: 801.HK), a leading hi-tech medical device and healthcare service corporation in China, today announced its annual results for the year ended 31 March 2009. During the year, the Group not only maintained stable growth in revenue of the core businesses, but also successfully listed its cord blood bank division in the U.S. Another U.S. listing of its fast-moving consumer electronics distributor and retailer, Pypo Digital Company Limited will also be completed soon. Meanwhile, Golden Meditech also made a strategic entry into China's hospital management industry so as to lay firm foundations for robust, sustainable future growth.

Being the largest blood related medical device manufacturer and the largest cord blood bank service provider in China, Golden Meditech recorded turnover in the core businesses of HK$497,756,000 representing an increase of 18% from last year. The Medical Device Segment and the Healthcare Service Segment contributed 56% and 44% to the Group's total revenue respectively. The Group's gross profit margin was maintained at 71%, which is higher than that of many industry peers.

Due to the global financial crisis, the Group recorded about HK$82,894,000 in other net losses. Excluding such one-time losses and the associate's non-cash impairment charge on certain intangibles, the Group's adjusted net profit was up 28% from the previous year. Basic earnings per share was HK3.7cents.

Mr. Kam Yuen, Chairman of Golden Meditech said, "The Medical Devices Segment broadened its products range and launched two new products namely the Plasma Exchange System and the Accelerated Thermostatic Infusion Pump. We expect the new products will become additional growth drivers for the Medical Devices Segment."

With an optimized service mix, the Healthcare S
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