HONG KONG, Jan. 5, 2021 /PRNewswire/ -- Global Cord Blood
Corporation (NYSE: CO) (the "Company"), China's leading provider of cord blood
collection, laboratory testing, hematopoietic stem cell processing
and stem cell storage services, today reported that China's National Health Commission ("NHC") has
issued a new policy stating that no applications for cord blood
banking licenses in China will be
accepted in 2021.
On December 30, 2020, the NHC's
General Office announced the Notice Regarding the Matters Related
to Issuance of Cord Blood Banking License* (the "Policy").
According to the Policy, in order to improve public health and
medical safety and for the authorities to refine cord blood banking
related policies, monitoring processes, and enforcement measures,
it is decided that no cord blood banking license applications will
be accepted in 2021.
The Company currently has 3 existing cord blood banking licenses
in China which cover Beijing municipality, Guangdong province and Zhejiang province.
The Company cautions its shareholders and others considering
trading its ordinary shares that the Policy did not provide further
details regarding the regulatory landscape of the cord blood
banking industry in China. The
Company will issue further announcements in case of any new
material developments.
*Direct translation for reference only
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. Global
Cord Blood Corporation provides cord blood collection, laboratory
testing, hematopoietic stem cell processing and stem cell storage
services. For more information, please visit the Company's website
at
http://www.globalcordbloodcorp.com.
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.
For more information, please contact:
Global Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@globalcordbloodcorp.com
ICR, Inc.
William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (+1) 646-405-5185
Email: william.zima@icrinc.com
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SOURCE Global Cord Blood Corporation