Global Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2021 – PRNewswire

Added 19,367 New Subscribers in 4Q21Revenues Up 0.8% YoY to RMB302.3 million ($46.1 million)Net Income Attributable Up 31.7% YoY to RMB127.7 million ($19.5 million)Operating Cash Flow Up 134.6% YoY to RMB211.1 million ($32.2 million)Conference Call to be Held on June 29, 2021 at 8:00 a.m. ET

HONG KONG, June 28, 2021 /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 2021, ended March 31, 2021.

Fourth Quarter Fiscal 2021 Highlights

Full Year Fiscal 2021 Highlights

"During the fourth quarter, hospitals in our operating markets continued the fight against the COVID-19 pandemic on the frontline and maintained relatively strict control over access to other services, which had an impact on our business growth. Despite these challenges, we were able to add 19,367 new subscribers in the fourth quarter", said Ms. Ting Zheng, Chief Executive Officer and Chairperson of GCBC. "Looking ahead, challenges remain due to ambiguity surrounding cord blood banking industry regulations and Biosecurity Law in China, as well as difficulties regarding client access and conversion due to ongoing anti-pandemic policies in hospitals. However, we believe in the gradual recovery of consumer sentiment and intend to leverage the solid foundation of our growing client base, pursue organic growth opportunities in our current markets while selectively considering new expansion opportunities to better serve our clients and diversify income sources. Additionally, favorable policy trends on increasing newborn growth rates issued by the Chinese government to encourage childbirth bode well for long term trends in our business but such measures will take time to be accepted and implemented by a new generation of expectant parents."

Summary Fourth Quarter and Full Year Ended March 31, 2020 and 2021

Three Months Ended March 31,

YearEnded March 31,

2020

2021

2020

2021

(In thousands)

RMB

RMB

US$

RMB

RMB

US$

Revenues

299,888

302,321

46,143

1,221,460

1,159,639

176,995

Gross Profit

256,430

256,413

39,136

1,032,332

980,692

149,682

Operating Income[3]

149,339

148,243

22,627

559,033

544,870

83,162

Change in Fair Value

of Equity Securities

(24,155)

(4,722)

(721)

(13,172)

25,385

3,875

Net Income Attributable

to the Company's Shareholders

97,007

127,734

19,497

470,717

508,247

77,573

Earnings per Share

Basic (RMB/US$)

0.80

1.05

0.16

3.87

4.18

0.64

Diluted (RMB/US$)

0.80

1.05

0.16

3.87

4.18

0.64

Revenues

Breakdown (%)

Processing Fees

and Other Services

61.1

%

58.1

%

63.0

%

57.5

%

Storage Fees

38.9

%

41.9

%

37.0

%

42.5

%

New Subscribers

(persons)

18,488

19,367

84,241

72,045

Total Accumulated

Subscribers

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Global Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2021 - PRNewswire