China Cord Blood Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2017

Added 20,566 New Subscribers in 4Q17

4Q17 Revenue Amounted to RMB202.0 Million ($29.3 Million)

4Q17 Operating Income Amounted to RMB56.3 Million ($8.2 Million)

Conference Call to be Held on June 22, 2017 at 8:00 a.m. ET

HONG KONG, June 21, 2017 /PRNewswire/ -- China Cord Blood Corporation (NYSE: CO) ("CCBC" 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 preliminary unaudited financial results for the fourth quarter and full year of the fiscal year 2017 ended March 31, 2017.

Fourth Quarter of Fiscal 2017 Highlights

  • Revenues for the fourth quarter of fiscal 2017 increased by 28.8% to RMB202.0 million ($29.3 million) from RMB156.8 million in the prior year period, partly attributed to the relatively low comparison base in the prior year period.
  • New subscribers and accumulated subscriber base were 20,566 and 575,0401respectively.
  • Gross profit increased to RMB161.0 million ($23.4 million) from RMB122.2 million in the prior year period. Gross margin increased to 79.7% from 77.9% in the prior year period.
  • Operating income increased by 42.0% to RMB56.3 million ($8.2 million).
  • Operating income before depreciation and amortization and share-based compensation expenses increased by 26.1% to RMB84.7 million ($12.3 million).2
  • Interest expense was RMB30.2 million ($4.4 million), compared to RMB28.0 million in the prior year period.
  • Income tax benefit of RMB3.9 million ($0.6 million) was recorded in the fourth quarter of fiscal 2017 as a result of the reversal of provision for income tax.
  • Net income attributable to the Company's shareholders increased to RMB37.9 million ($5.5 million) from RMB8.2 million in the prior year period.
  • Net cash provided by operating activities for the fourth quarter of fiscal 2017 amounted to RMB200.5 million ($29.1 million).

Full Year of Fiscal 2017 Highlights

  • Revenues for the full year of fiscal 2017 increased by 14.6% to RMB760.0 million ($110.4 million).
  • New subscriber sign-ups reached 74,952 and accumulated subscriber base expanded to 575,0401.
  • Gross profit increased by 19.1% to RMB617.3 million ($89.7 million) from RMB518.4 million in the prior year.
  • Operating income increased by 38.4% to RMB264.9 million ($38.5 million) from RMB191.3 million in the prior year.
  • Operating income before depreciation and amortization and share-based compensation expenses increased to RMB377.6 million ($54.9 million) from RMB300.2 million in the prior year, a year-on-year increase of 25.8%.2
  • Interest expense was RMB119.4 million ($17.3 million), compared to RMB108.0 million in the prior year.
  • Net income attributable to the Company's shareholders increased by 38.7% to RMB126.2 million ($18.3 million) from RMB91.0 million in the prior year.
  • Net cash provided by operating activities for the full year of fiscal 2017 increased by 9.7% to RMB637.6 million ($92.6 million) from RMB581.0 million in the prior year.

"In fiscal 2017, we successfully added 74,952 new subscribers to our accumulated subscriber base with the Guangdong market as the main driver of growth. We added 20,566 new subscribers in the fourth quarter, a year-over-year increase of 42.1%, partially aided by a lower comparison in the prior year period. Our accumulated subscriber base expanded to 575,0401, which underscores our position as a leading provider in China's cord blood banking industry," Ms. Ting Zheng, Chief Executive Officer of CCBC, commented.

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