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Golden Meditech Announces Financial Year 2008/09 Annual Results

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 Service Segment made significant progress in terms of market share and overall profitability. The segment reported strong revenue growth of the Cord Blood Bank Division during the year, with the division's total turnover increasing by 61% to HK$221,221,000. The Guangdong Cord Blood Bank reported a 221% growth in sales compared with the previous year.

Mr. Kam added, "Our cord blood bank business has stepped up the pace of its expansion plan outside China. We, through a strategic ownership of Cordlife Ltd., the largest cord blood bank operator in Southeast Asia, have become one of the world's largest cord blood bank operators in terms of population coverage. The listing in the U.S. will help the division speed up the pace of geographical expansion in China and overseas. Up to the date, it is the first Chinese healthcare enterprise listed in the U.S. this year."

He concluded, "To capture the unique opportunities brought by new medical reforms in China, the Group strategically extended its footholds in the hospital management and services industry. Synergistic effects with the existing businesses resulted and the move helped us to provide all round healthcare products and services to the Chinese public through our integrated operations. This also enhanced the Group's competitiveness in China."

Among the Group's strategic investments, Pypo Digital Company Limited, a fast-moving consumer electronics distributor and retailer, will be listed in the U.S. soon.

Golden Meditech Company Limited (the "Company" or "Golden Meditech"; stock code: 801), together with its subsidiaries (collectively referred to as the "Group"), is a leading healthcare corporation in China. Golden Meditech operates an integrated portfolio of healthcare businesses including the manufacturing of medical devices, the provision of healthcare services and the production of natural herbal medicines. It has gained dominant market positions in all business segments. The first healthcare company listed outside Mainland China, the Group debuted on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong in December 2001 and migrated its listing to the Main Board in June 2009. The Group's mission is to contribute to people's health and welfare through the development and generalization of advanced medical technology, and to create value for its shareholders.

    For enquiries, please contact:

     Investor relations department
     Golden Meditech Company Limited
     Address: 48/F., Bank of China Building,
              1 Garden Road, Central, Hong Kong
     Tel:     +852-3605-8138
     Fax:     +852-3605-8181

SOURCE Golden Meditech Company Limited
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