HONG KONG, June 23, 2011 /PRNewswire-Asia/ -- Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," - 801.HK; 910801.TW), China's leading integrated healthcare enterprise, today announced that the Group has accumulated 754,791 ordinary shares in its NYSE-listed affiliate, China Cord Blood Corporation ("CCBC," - CO.US) from the open market between December 2010 and March 2011. As a result of which the Group now owns 39.5% of the issued share capital of CCBC.
CCBC is the largest cord blood banking operator in China and is the only one with multiple exclusive operating licenses including Beijing Municipal, Guangdong Province and Zhejiang Province, with approximately 20% stake in the exclusive operator in Shandong Province. Moreover, CCBC also has a strategic interest and single largest shareholding in "Cordlife," the largest cord blood banking operator in Asia Pacific markets.
Mr. Kam YUEN, Chairman and Chief Executive Officer of the Group, said, "We are proud to see that CCBC has sustained strong steady growth and profitability in its initial markets in Beijing and Guangdong while continuously deliver positive news on new market expansions since its initial public offering. As the founding and largest shareholder of CCBC, we remain optimistic of CCBC's prospects in both China and Asia Pacific and are duly confident in the capability of its management team."
CCBC reported strong revenue growth of 29.8% at RMB340 million for the fiscal year ended March 31, 2011 and a gross margin of 77.2%, while profit attributable to shareholders increased by 86.5% at RMB91.7 million under US GAAP.
Under the "one-license-per-region" regulatory framework, the government has issued seven exclusive operating licenses thus far. The strategic coverage of CCBC's current operation in Beijing, Shangdong, Zhejiang and Guangdong has enabled it to capture four key strategic economic strongholds in the affluent eastern coastline of China, with a combined annual birth rate totaling 29 million.
Mr. Kam highlighted, "We see considerable room for CCBC to further enhance market penetration with steady growth and market development. Its potential and profitability prospects remain impressive."
About Golden Meditech Holdings LimitedGolden Meditech Holdings Limited is China's leading integrated-healthcare device and service operator, and the first medical device enterprise that was publicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited (HKEx). Golden Meditech is a first-mover in China, having established dominant positions in medical devices and healthcare services markets over the years, 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 enquiries, please contact:
Investor Relations DepartmentGolden Meditech Holdings LimitedAddress:
48/F, Bank of China Tower, 1 Garden Road, Central, Hong KongTel:
|SOURCE Golden Meditech Holdings Limited|
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