Navigation Links
Golden Meditech FY2011-12 Interim Results

HONG KONG, Nov. 30, 2011 /PRNewswire-Asia-FirstCall/ -- 6 months endedHK$ '000

Sept 30 2011Sept 30 2010

H-o-H (%)RevenuesHospital Management Service Income


65%Medical Insurance Administration Service Income


NAMedical Devices Sales


2%Medical Accessories Sales


13%Sales Income from Chinese Herbal Medicine Business



30%Share of Profit from Associates China Cord Blood Corporation ("CCBC," CO:US)


37%China National Medical Equipment Industry Corp. (CMIC)


0%FunTalk China Holdings Ltd. (Privatized in August 2011)


5%Profit After Tax84,425,000161,277,000

(48%)Adjusted Profit Attributable to Shareholders* 83,518,00077,854,000

7%Profit Attributable to Shareholders76,645,000165,574,000

(54%)Adjusted Earnings Per Share (Basic)#4.28 HK cents4.62 HK cents

(7%)Earnings Per Share (Basic)3.93 HK cents9.83 HK cents

(60%)*Excluding the non-cash and non-operating loss of HK$41,526,000 due to volatility in the global financial markets which led to decline in the value of securities and previously issued convertible notes and non-operating gain of HK$34,653,000 due to gain on disposal of partial interests in an associate

# Based on Adjusted Profit Attributable to ShareholdersGolden Meditech Holdings Limited ("Golden Meditech," together with its subsidiaries collectively as the "Group," - 801.HK; 910801.TW), a leading integrated healthcare enterprise in China, is pleased to announce the Group's interim results for the six months ended 30 September 2011.  

Reporting satisfactory growth in both Healthcare Services Segment and Medical Devices Segment, the Group's core businesses, total turnover amounted to HK$210,882,000, with 30% growth compared to the previous interim period.  Excluding the non-cash and non-operating loss of HK$41,526,000 due to volatility in global financial markets which led to the decline in value of the Group's securities and previously issued convertible notes, and non-operating gain of HK$34,653,000 due to gain on disposal of partial interest in an associate, the adjusted profit attributable to equity shareholders of the Company should amount to HK$83,518,000, representing 7% increase over the previous corresponding period.  

Healthcare Services SegmentHealthcare Services Segment, which consists of the Group's Hospital Management Business and GM-Medicare, the specialised medical insurance administration business, accounted for 30% of total turnover compared to 23% in the previous reporting period, reflecting the inclusion of revenue contribution from the newly acquired Shanghai East International Medical Centre ("SEIMC").  

Several key events took place during the interim period, including the expansion of Daopei Hospital in Beijing and the acquisition of SEIMC, a joint-venture with the renowned Shanghai East Hospital serving mostly the premium healthcare services market, setting the stage for this segment to become the key growth and revenue driver for the Group going forward.  Hence revenues from the hospital management operations reached HK$62,747,000 during the interim period with 65% increase relative to the previous interim period.  

Contribution from China Cord Blood Corporation (or "CCBC," CO.US), the Group's associate company, continued to report impressive revenue growth of 20% for the first half of the fiscal year relative to the previous year, contributing HK$29,728,000 to the Group during the interim period.  CCBC is already progressing toward establishing its third stem cell cord blood bank facility in Zhejiang Province, after Beijing and Guangdong.  In consideration of its excellent earnings potential and the low market capitalisation, the Group has increased its stake in CCBC to 41% as of this announcement date.

We are delighted to report that GM-Medicare, our medical insurance administration business, commenced operation during the review period with positive feedback from the market, substantiating our initial strategy to serve as the missing-link between multiple stakeholders in the medical insurance market in China.  

Medical Devices SegmentFor the relevant interim period, Medical Devices Segment, which constitutes the Group's own-branded blood-related medical devices manufacturing and distribution business and a stake in China Medical National Equipment Industry Corp. ("CMIC"), remained as the largest source of revenue, contributing HK$131,894,000 that is equivalent to 63% of the Group's total turnover.  The segment has benefited from the increase in medical devices accessories sales which accounted for 38% of the revenues for Medical Devices segment, the segment reported 6% growth.

Strategic Investment ProjectsThe Group also disposed 2% of the shares of the previously NASDAQ-listed FunTalk China Holdings Limited for US$15 million, realizing an unaudited gain of HK$34,653,000 following the privatisation in August 2011, with an implied value of the entire company at US$430 million.  The Group held 19.8% of the company as of 30 September 2011.  FunTalk China contributed HK$40,094,000 to the Group's net profit as an associate company for the interim reporting period, representing 5% increase from the previous year in spite of the decrease in our shareholding during the period.

Outlook and StrategiesMr. KAM Yuen, Chairman and Chief Executive Officer of the Group, commenting on the interim results of the Group, said, "As our current strategies denotes, the management envisages the healthcare services segment will increasingly become a key business focus for the Group, taking both its brand presence and resources to the next level.  The Healthcare Services Segment such as our hospital and related services as well as medical insurance administrative business, GM-Medicare, will directly benefit from China's growing and increasingly affluent middleclass, which has been a strong driving force behind the impressive growth in the industry, demanding for better care as well as newer products and services.   As we are confident that the ongoing medical reform in China will continuously create more business opportunities that are complementary to our unique strategic position, we are equally confident in our ability to capture these emerging opportunities on an integrated business platform with distinctive synergies between each operation, offering promising returns for our shareholders in the long run."  

About Golden Meditech Holdings LimitedGolden Meditech Holdings Limited is China's leading integrated-healthcare enterprise.  Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets, 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 inquiries, please contact the Investor Relations Department:Golden Meditech Holdings LimitedAddress:

48/F, Bank of China Tower, 1 Garden Road, Central, Hong KongTel:



SOURCE Golden Meditech Holdings Limited
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Golden Meditech Chairman Increases Stake in Company
2. Golden Meditech Increase Stake in NYSE-listed Affiliate - China Cord Blood Corporation to 40.9%
3. Golden Meditech Disposes of 2.0% Stake in FunTalk China for US$15 Million
4. Golden Meditech Celebrates Grand Opening of Taiwan Representative Office
5. Golden Meditech FY2010-11 Annual Results
6. Golden Meditech Acquires Shanghai East International Medical Centre
7. Golden Meditech to Increase Stake in NYSE-listed Affiliate -- China Cord Blood Corporation to 39.5%
8. Golden Meditech Chairman Increases Stake in Company
9. Fenwal, Golden Meditech Complete Definitive Agreement to Form Joint Venture in China
10. Golden Meditech Acquires Remaining Stake in Chinese Herbal Medicine Business
11. Golden Meditech to Form Strategic Alliance with Long Bon International
Post Your Comments:
(Date:10/11/2017)... -- Caris Life Sciences ® , a leading innovator in ... medicine, today announced that St. Jude Medical Center,s Crosson ... as its 17 th member. Through participation with ... Institute will help develop standards of care and best ... cancer treatment more precise and effective. ...
(Date:10/7/2017)... , Oct. 6, 2017   Provista, ... more than $100 billion in purchasing power, today announced ... and information. The Newsroom is the online ... industry trends, infographics, expert bios, news releases, slideshows and ... access to a wealth of resources at their fingertips, ...
(Date:10/2/2017)... Diplomat Pharmacy, Inc. (NYSE: DPLO ... LLC , and named its founder as Diplomat,s chief ... Tennessee , will operate under Diplomat subsidiary ... offerings for health care partners to include IT outsourcing, ... "In an interoperable world, technology delivers comprehensive insight ...
Breaking Medicine Technology:
(Date:10/13/2017)... Little Rock, AR (PRWEB) , ... October 13, ... ... owned firm with locations throughout Arkansas that offers insurance and financial preparation services, ... to benefit the Rock City Rescue organization. , Rock City Rescue is a ...
(Date:10/13/2017)... ... October 13, 2017 , ... The American Board of Family Medicine's (ABFM) Board ... Chief Executive Officer, succeeding Dr. James C. Puffer upon his retirement. Dr. Newton will ... Dr. Puffer’s retirement at the end of 2018. Upon assuming the role of President ...
(Date:10/13/2017)... (PRWEB) , ... October 13, ... ... School of Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, ... professionals on guideline updates for the primary prevention of cardiovascular diseases during ...
(Date:10/13/2017)... OBISPO, Calif. (PRWEB) , ... October 13, 2017 , ... ... or dementia. However, many long-term care insurance companies have a waiver for care if ... the 90-day elimination period, when the family pays for care, is often waived, so ...
(Date:10/13/2017)... ... ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out many kids this ... by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting kids excited about ... ages; it is a non-competitive, non-timed event, which is all about having fun and ...
Breaking Medicine News(10 mins):