Global Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2020 – Stockhouse

Added 18,488 New Subscribers in 4Q20 4Q20 Revenues Increased by 19.2% YoY to RMB299.9 Million ($42.4 Million) 4Q20 Operating Income Increased by 68.1% YoY to RMB149.3 Million ($21.1 Million) Non-GAAP Operating Income Up 58.7% YoY to RMB161.7 Million ($22.8 Million) Conference Call to be Held on June 30, 2020 at 8:00 a.m. ET

HONG KONG, June 30, 2020 /PRNewswire/ -- Global Cord Blood Corporation (NYSE: CO) ("GCBC" or the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today announced its unaudited financial results for the fourth quarter and full year of fiscal year 2020 ended March 31, 2020.

Fourth Quarter of Fiscal 2020 Highlights

Full Year Fiscal 2020 Highlights

"Despite the difficult market conditions resulting from the unprecedented COVID-19 pandemic and a continued decrease in newborn numbers in the markets in which we operate, we managed to recruit over 84,000 new subscribers during fiscal 2020 and achieved our full-year target," said Ms. Ting Zheng, Chairperson and Chief Executive Officer of GCBC. "As the impact of COVID-19 lingers, hospitals in China have implemented strict access rules, and consumers remain cautious on inter-personal contact and discretionary spending. In addition, the regulatory uncertainties of the cord blood banking industry in China continue to exist. Therefore, we believe that the business environment for the next fiscal year will remain challenging. However, we will continue to execute on our strategy to overcome the short-term challenges, focus on achieving operational targets, and explore business opportunities to pave a solid path for our long-term development."

Summary Fourth Quarter and Full Year Ended March 31, 2019 and 2020

Three Months Ended March 31,

Year Ended March 31,

2019

2020

2019

2020

(In thousands)

RMB

RMB

US$

RMB

RMB

US$

Revenues

251,651

299,888

42,352

986,754

1,221,460

172,503

Gross Profit

204,276

256,430

36,215

800,727

1,032,332

145,793

Operating Income[3]

88,854

149,339

21,091

381,657

559,033

78,950

Change in Fair Value

of Equity Securities

11,526

(24,155)

(3,411)

(57,125)

(13,172)

(1,860)

Net Income Attributable

to the Company's

Shareholders

91,108

97,007

13,701

291,124

470,717

66,477

Earnings per Share

Basic (RMB/US$)

0.74

0.80

0.11

2.40

3.87

0.55

Diluted (RMB/US$)

0.74

0.80

0.11

2.40

3.87

0.55

Revenues

Breakdown (%)

Processing Fees

and Other Services

59.1%

61.1%

60.9%

63.0%

Storage Fees

40.9%

38.9%

39.1%

37.0%

New Subscribers

(persons)

22,194

18,488

89,366

84,241

Total Accumulated

Subscribers

(persons)

750,273

833,094[1]

750,273

833,094[1]

Summary Selected Cash Flow Statement Items

Three Months Ended March 31,

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Global Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2020 - Stockhouse