HONG KONG, April 1, 2019 /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 that
the Company is increasing its processing fee by RMB3,000 to RMB9,800, effective on April 1, 2019. The Company's annual storage fee
is unaffected by this increase.
The Company is committed to delivering high quality and top of
the line services to all clients, and this is evidenced by the
Company's continuous investment in cord blood banking hardware as
well as software. The Company's skillful and experienced workforce
have also contributed remarkably towards the Company's ability to
maintain its technological leadership in China's cord blood banking industry. The
Company strongly believes that the new pricing will not only absorb
some of the rising costs associated with the Company's
technological and service advancements, but also properly position
the Company's services among its peers in China.
"We expect to constantly review our subscription fee in light of
changes in market conditions, the Company's strategy, and costs
related to continual improvement of technologies and services, and
we will revise them when appropriate," said Ms. Ting Zheng,
Chairperson and Chief Executive Officer of GCBC. "The fee
adjustment follows our strategic focus on the mid-to-high end
market. It is intended to empower us to further enhance the
customer experience and improve referral generation."
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These
statements relate to future events or the Company's future
financial performance. The Company has attempted to identify
forward-looking statements by terminology including "anticipates",
"believes", "expects", "can", "continue", "could", "estimates",
"intends", "may", "plans", "potential", "predict", "should" or
"will" or the negative of these terms or other comparable
terminology. These statements are only predictions, uncertainties
and other factors may cause the Company's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. The information in this press release is not intended
to project future performance of the Company. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, the Company does not guarantee future
results, levels of activity, performance or achievements. The
Company expectations are as of the date this press release is
issued, and the Company does not intend to update any of the
forward-looking statements after the date this press release is
issued to conform these statements to actual results, unless
required by law.
About Global Cord Blood Corporation
Global Cord Blood Corporation is the first and largest umbilical
cord blood banking operator in China in terms of geographical coverage and
the only cord blood banking operator with multiple licenses. Under
current People's Republic of China
government regulations, only one licensed cord blood banking
operator is permitted to operate in each licensed region and no new
licenses will be granted before 2020 in addition to the seven
licenses authorized as of today. Global Cord Blood Corporation
provides cord blood collection, laboratory testing, hematopoietic
stem cell processing, and stem cell storage services. For more
information, please visit our website at
http://www.globalcordbloodcorp.com.
For more information, please contact:
Global Cord
Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@globalcordbloodcorp.com
ICR, Inc.
Mr. William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: William.zima@icrinc.com
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SOURCE Global Cord Blood Corporation