HONG KONG, Nov. 14, 2013 /PRNewswire-FirstCall/
-- 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
second quarter and first half of fiscal year 2014, which ended
September 30, 2013.
Second Quarter of Fiscal 2014 Highlights
- Revenues for the second quarter of fiscal 2014 increased
by 10.3% to RMB141.6 million
($23.1 million) from RMB128.5 million in the prior year
period.
- New subscriber sign-ups and accumulated subscriber base
were 15,928 and 343,170, respectively.
- Gross profit increased by 12.7% to RMB114.3 million ($18.7
million) from RMB101.4 million
in the prior year period.
- Gross margin was 80.7%, compared to 78.9% in the prior
year period.
- Operating income increased by 19.7% to RMB56.3 million ($9.2
million) from RMB47.0 million
in the prior year period.
- Interest expense amounted to RMB16.5 million ($2.7
million), which was largely attributable to the convertible
notes issued to KKR China Healthcare Investment Limited ("KKR") and
Golden Meditech Holdings Limited ("Golden Meditech").
- Net income attributable to the Company's shareholders
increased by 0.8% to RMB24.9 million
($4.1 million) from RMB24.7 million in the prior year period, after
taking into account higher income tax expense in the second
quarter.
- Operating cash flow for the quarter amounted to
RMB121.0 million ($19.8 million), after taking into account the
coupon payment made to the Company's convertible note
holder.
First Half of Fiscal 2014 Highlights
- Revenues for the first half of fiscal 2014 increased by
10.9% to RMB270.4 million
($44.2 million) from RMB243.8 million in the prior year
period.
- New subscriber sign-up reached 31,188 and accumulated
subscriber base expanded to 343,170.
- Gross profit increased by 13.6% to RMB218.5 million ($35.7
million) from RMB192.3 million
in the prior year period.
- Operating income increased by 11.7% to RMB102.2 million ($16.7
million) from RMB91.4 million
in the prior year period.
- Interest expense amounted to RMB31.2 million ($5.1
million), compared to RMB24.3
million in the prior year period.
- Net income attributable to the Company's shareholders
amounted to RMB57.8 million
($9.4 million), compared to
RMB55.8 million in the prior year
period.
- Operating cash flow for the first half of fiscal 2014 was
RMB229.6 million ($37.5 million), after taking into account the
coupon payment made to the Company's convertible note
holders.
"We are glad that our second quarter performance continued to
track management's expectations with moderate sequential growth in
new subscriber numbers, as the overall markets began to transition
away from the Dragon year after-effect. During the second quarter,
we continued to build brand awareness and emphasize service quality
in our business. This aligns with our premium pricing initiative,
backed by our AABB accreditation, that began in April this year,"
stated Ms. Ting Zheng, Chief Executive Officer of China Cord Blood
Corporation.
Summary - The Second Quarter and First Half Ended
September 30, 2012 and 2013
|
Three Months Ended September 30,
|
Six Months Ended September 30,
|
|
|
2012
|
|
2013
|
|
2012
|
|
2013
|
(in thousands)
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues
|
|
128,462
|
|
141,635
|
|
23,143
|
|
243,792
|
|
270,356
|
|
44,176
|
Gross Profit
|
|
101,405
|
|
114,275
|
|
18,672
|
|
192,346
|
|
218,504
|
|
35,703
|
Operating Income
|
|
47,044
|
|
56,290
|
|
9,198
|
|
91,442
|
|
102,170
|
|
16,694
|
Net Income Attributable to
the Company's
Shareholders
|
|
24,695
|
|
24,904
|
|
4,069
|
|
55,788
|
|
57,810
|
|
9,446
|
Earnings per Ordinary Shares
- Basic1 and Diluted (RMB/US$)
|
|
0.34
|
|
0.33
|
|
0.05
|
|
0.75
|
|
0.73
|
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue Breakdown (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
Processing Fees
|
|
76.4%
|
|
71.6%
|
|
|
|
75.9%
|
|
70.6%
|
|
|
Storage Fees
|
|
23.6%
|
|
28.4%
|
|
|
|
24.1%
|
|
29.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Subscribers (persons)
|
|
18,491
|
|
15,928
|
|
|
|
34,951
|
|
31,188
|
|
|
Total Accumulated
Subscribers (persons)
|
|
274,705
|
|
343,170
|
|
|
|
274,705
|
|
343,170
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[1] The terms of the convertible notes issued to KKR
and Golden Meditech provide each party with the ability to
participate in any excess cash dividend. Therefore, the calculation
of basic EPS has taken into consideration the effect of such
participating rights of RMB0.01($0.002) and RMB0.06($0.01) for the
three months and six months ended September 30, 2013,
respectively.
|
Summary - Selected Cash Flow Statement Items
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
September 30, 2013
|
|
September 30, 2013
|
(in thousands)
|
|
RMB
|
|
US$
|
|
RMB
|
|
US$
|
Net cash provided by operating
activities
|
|
120,969
|
|
19,766
|
|
229,623
|
|
37,521
|
Net cash used in investing
activities
|
|
(17,531)
|
|
(2,865)
|
|
(56,891)
|
|
(9,296)
|
Net cash provided by financing
activities
|
|
5,578
|
|
911
|
|
2,336
|
|
381
|
Second Quarter of Fiscal 2014 Financial Results
REVENUES. Revenues increased by 10.3% to
RMB141.6 million ($23.1 million) in the second quarter of fiscal
2014 from RMB128.5 million in the
prior year period, driven mainly by higher pricing implemented
since the previous quarter and the expansion in the Company's
accumulated subscriber base, overcoming the year-over-year declines
in new subscriber numbers due to the Dragon year after-effect.
Revenues generated from storage fees increased to RMB40.2 million ($6.6
million), up 32.7% from RMB30.3
million in the prior year period. Because of the increased
accumulated subscriber base, revenue from storage fees accounted
for 28.4% of total revenues, compared to 23.6% in the prior year
period.
Revenues generated from processing fees in this quarter were
RMB101.4 million ($16.5 million), up modestly from RMB98.2 million in the prior year period as
pricing increases countered the impact of year-over-year declines
in new subscriber numbers. 15,928 new subscriber sign-ups were
recorded during the second quarter of fiscal 2014, representing a
13.9% year-over-year decrease but a 4.4% sequential increase.
Revenues generated from processing fees accounted for 71.6% of
total revenues, compared to 76.4% in the prior year period.
GROSS PROFIT. Gross profit for the second quarter
of fiscal 2014 increased by 12.7% to RMB114.3 million ($18.7
million) from RMB101.4 million
in the prior year period, as the benefits of economies of scale and
higher price levels outweighed higher raw material costs. Gross
margin was 80.7%, compared to 78.9% in the prior year period.
OPERATING INCOME. Operating income for the second
quarter increased 19.7% to RMB56.3
million ($9.2 million)
compared to RMB47.0 million in the
prior year period. Operating margin improved to 39.7% from 36.6% in
the prior year period as a result of higher gross margin and
effective cost controls. Depreciation and amortization expenses for
the second quarter were RMB8.7
million ($1.4 million),
compared to RMB8.3 million in the
prior year period.
Research and Development Expenses. Research and
development expenses, which have been stable in the last few
quarters, were RMB2.3 million
($0.4 million).
Sales and Marketing Expenses. Sales and marketing
expenses for the second quarter amounted to RMB27.6 million ($4.5
million), compared to RMB23.5
million in the prior year period. The increase in sales and
marketing expenses continued to correlate with the increase in
revenue. Aside from higher staff costs, additional expenses were
incurred for the marketing effort in preparation for the large
scale Zhejiang market launch.
However, management continued to monitor sales and marketing
expenses and maintained consistent level of cost efficiency through
cost cutting and prudent spending. As a result, sales and marketing
expenses as a percentage of revenue decreased to 19.5% of revenues
from 22.1% in the first quarter of the current fiscal year.
General and Administrative Expenses. General and
administrative expenses were stable at RMB28.0 million ($4.6
million), compared to RMB29.0
million in the prior year period and RMB27.4 million in the first quarter of fiscal
2014. As a percentage of revenue, general and administrative
expenses decreased to 19.8% compared to 22.6% in the prior year
period and 21.3% in the first quarter of fiscal 2014.
OTHER INCOME AND EXPENSES
Interest Expense. Interest expense increased to
RMB16.5 million ($2.7 million) from RMB14.1
million in the prior year period. The increase was largely
attributable to the convertible note issued to Golden Meditech in
the third quarter of fiscal 2013, offset in part by the
capitalization of interest expense for the Company's in-progress
construction of new facilities. Interest expense capitalized in the
second quarter of fiscal 2014 amounted to RMB6.8 million ($1.1
million). No interest expense was capitalized in the prior
year period.
NET INCOME ATTRIBUTABLE TO THE COMPANY'S
SHAREHOLDERS. As the increase in income before tax was
partially eroded by the increase in income tax expense, net income
attributable to the Company's shareholders for the second quarter
of fiscal 2014 increased by 0.8% to RMB24.9
million ($4.1 million) from
RMB24.7 million in the prior year
period. Net margin for the second quarter of fiscal 2014 was
17.6%.
EARNINGS PER SHARE. The terms of the convertible
notes issued to KKR and Golden Meditech provide each party with the
ability to participate in any Excess Cash Dividend2.
Therefore, the calculation of basic and diluted EPS has taken into
consideration the effect of such participating rights of
RMB0.01 ($0.002). Basic and diluted earnings per ordinary
share for the second quarter of fiscal 2014 were RMB0.33 ($0.05).
LIQUIDITY. As of September
30, 2013, the Company had cash and cash equivalents of
RMB1,669.4 million ($272.8 million) compared to RMB1,494.1 million as of March 31, 2013. The Company had total debt of
RMB814.8 million ($133.1 million) as of September 30, 2013. Operating cash flow for the
quarter amounted to RMB121.0 million
($19.8 million), after taking into
account the coupon payment made to the Company's convertible note
holder.
Ms. Zheng concluded, "The management continued to closely
monitor the market impact of our upward pricing adjustment, and we
are encouraged by the improvement in the number of new subscriber
sign-ups which suggests the market has slowly adapted to the new
pricing levels. At the same time, our capacity expansion in
Guangdong and new facility
development in Zhejiang are both
well under way. With the new facilities coming on-line by the
end of the current fiscal year, we will be able to truly flex our
marketing muscle and further penetrate the Guangdong market and the largely untapped
Zhejiang market."
[2] "Excess Cash Dividend" means any cash dividend to
holders of shares that, together with all other cash dividends
previously paid to holders of shares in the same financial year,
exceeds, on a per share basis, an amount equal to the interest that
has accrued and shall accrue at 7% in such financial year divided
by the number of shares into which the note is convertible at the
conversion price then in effect on the relevant record
date.
|
First Half of Fiscal 2014 Financial Results
For the first half of fiscal year 2014, total revenues increased
by 10.9% to RMB270.4 million
($44.2 million) from RMB243.8 million in the prior year period. The
increase was largely attributable to the implementation of the
Company's new service pricing and the expansion of the Company's
accumulated subscriber base to 343,170 subscribers, which partially
offset the decrease in new subscriber numbers. Revenues from
processing fees and storage fees grew by 3.1% and 35.4%,
respectively. Gross profit increased by 13.6% to RMB218.5 million ($35.7
million) from RMB192.3 million
in the prior year period. Operating income increased by 11.7% to
RMB102.2 million ($16.7 million) from RMB91.4 million in the prior year period. Net
income attributable to the Company's shareholders amounted to
RMB57.8 million ($9.4 million). Basic and diluted earnings per
share attributable to ordinary shares were RMB0.73 ($0.12).
Net cash provided by operating activities in the first half of
fiscal 2014 was RMB229.6 million
($37.5 million).
Conference Call
The Company will host a conference call at 8:00 a.m. ET on Friday,
November 15, 2013 to discuss its financial performance and
give a brief overview of the Company's recent developments,
followed by a question and answer session. Interested parties may
access the audio webcast through the Company's IR website at
http://ir.chinacordbloodcorp.com. A replay of the webcast will be
accessible two hours after the conference call and available for
three weeks at the same URL link above. Listeners may also access
the call by dialing 1-631-514-2526 or 1-855-298-3404 for US callers
or +852-5808-3202 for Hong Kong
callers, access code: 5266601.
About China Cord Blood Corporation
China 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 PRC government regulations, only one licensed cord blood
banking operator is permitted to operate in each licensed region
and only seven licenses have been authorized as of today. China
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.chinacordbloodcorp.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 confirm these statements to actual results, unless
required by law.
The forward-looking statements included in this press release
are subject to risks, uncertainties and assumptions about the
Company's businesses and business environments. These statements
reflect the Company's current views with respect to future events
and are not a guarantee of future performance. Actual results of
the Company's operations may differ materially from information
contained in the forward-looking statements as a result of risk
factors some of which include, among other things: continued
compliance with government regulations regarding cord blood banking
in the People's Republic of China,
or PRC and any other jurisdiction in which the Company conducts its
operations; changing legislation or regulatory environments in the
PRC and any other jurisdiction in which the Company conducts its
operations; the acceptance by subscribers of the Company's
different pricing and payment options and reaction to the
introduction of the Company's premium-quality pricing strategy;
demographic trends in the regions of the PRC in which the Company
is the exclusive licensed cord blood banking operator; labor and
personnel relations; the existence of a significant shareholder
able to influence and direct the corporate policies of the Company;
credit risks affecting the Company's revenue and profitability;
changes in the healthcare industry, including those which may
result in the use of stem cell therapies becoming redundant or
obsolete; the Company's ability to effectively manage its growth,
including implementing effective controls and procedures and
attracting and retaining key management and personnel; changing
interpretations of generally accepted accounting principles; the
availability of capital resources, including in the form of capital
markets financing opportunities, in light of industry developments
affecting issuers that have pursued a "reverse merger" with an
operating company based in China,
as well as general economic conditions; compliance with restrictive
debt covenants under our senior convertible notes; and other
relevant risks detailed in the Company's filings with the
Securities and Exchange Commission in the
United States.
This announcement contains translations of certain Renminbi
amounts into U.S. dollars at specified rates solely for the
convenience of readers. Unless otherwise noted, all translations
from Renminbi to U.S. dollars as of and for the periods ending
September 30, 2013 were made at the
noon buying rate of RMB6.1200 to
$1.00 on September 30, 2013 in the City of New York for cable transfers in
Renminbi per U.S. dollar as certified for customs purposes by the
Federal Reserve Bank of New York.
China Cord Blood Corporation makes no representation that the
Renminbi or U.S. dollar amounts referred to in this press release
could have been or could be converted into U.S. dollars or
Renminbi, at any particular rate or at all.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
Mr. William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: William.zima@icrinc.com
CHINA CORD BLOOD CORPORATION
|
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
|
As of March 31 and September 30,
2013
|
|
|
|
March 31,
|
|
September 30,
|
|
|
2013
|
|
2013
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(in thousands except share data)
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
1,494,099
|
|
|
1,669,380
|
|
|
272,775
|
Accounts receivable, less allowance for doubtful
accounts
|
|
|
|
|
|
|
|
|
|
(March 31, 2013: RMB14,112;
September 30, 2013: RMB16,082)
|
|
|
73,076
|
|
|
80,559
|
|
|
13,163
|
Inventories
|
|
|
10,265
|
|
|
16,832
|
|
|
2,751
|
Prepaid expenses and other
receivables
|
|
|
11,602
|
|
|
14,844
|
|
|
2,425
|
Debt issuance costs
|
|
|
3,678
|
|
|
3,606
|
|
|
589
|
Deferred tax assets
|
|
|
5,454
|
|
|
5,985
|
|
|
978
|
Total current assets
|
|
|
1,598,174
|
|
|
1,791,206
|
|
|
292,681
|
Property, plant and equipment, net
|
|
|
468,272
|
|
|
520,169
|
|
|
84,995
|
Non-current prepayments
|
|
|
212,633
|
|
|
208,188
|
|
|
34,018
|
Non-current accounts receivable, less allowance for
doubtful accounts
|
|
|
|
|
|
|
|
|
|
(March 31, 2013: RMB36,361;
September 30, 2013: RMB38,346)
|
|
|
249,370
|
|
|
236,064
|
|
|
38,572
|
Inventories
|
|
|
39,730
|
|
|
42,933
|
|
|
7,015
|
Intangible assets, net
|
|
|
125,170
|
|
|
122,860
|
|
|
20,075
|
Available-for-sale equity
securities
|
|
|
88,404
|
|
|
169,699
|
|
|
27,729
|
Other investment
|
|
|
189,129
|
|
|
189,129
|
|
|
30,903
|
Debt issuance costs
|
|
|
11,667
|
|
|
9,630
|
|
|
1,574
|
Deferred tax assets
|
|
|
3,727
|
|
|
1,114
|
|
|
182
|
Total assets
|
|
|
2,986,276
|
|
|
3,290,992
|
|
|
537,744
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
|
|
|
Bank loan
|
|
|
50,000
|
|
|
60,000
|
|
|
9,804
|
Accounts payable
|
|
|
9,890
|
|
|
8,779
|
|
|
1,434
|
Accrued expenses and other payables
|
|
|
84,006
|
|
|
64,942
|
|
|
10,611
|
Deferred revenue
|
|
|
172,328
|
|
|
181,428
|
|
|
29,645
|
Amounts due to related parties
|
|
|
11,241
|
|
|
720
|
|
|
118
|
Income tax payable
|
|
|
4,983
|
|
|
2,206
|
|
|
360
|
Deferred tax liabilities
|
|
|
-
|
|
|
1,300
|
|
|
212
|
Total current liabilities
|
|
|
332,448
|
|
|
319,375
|
|
|
52,184
|
Convertible notes
|
|
|
751,781
|
|
|
754,807
|
|
|
123,334
|
Non-current deferred revenue
|
|
|
530,258
|
|
|
665,226
|
|
|
108,697
|
Other non-current liabilities
|
|
|
107,158
|
|
|
133,954
|
|
|
21,888
|
Deferred tax liabilities
|
|
|
23,168
|
|
|
24,938
|
|
|
4,075
|
Total liabilities
|
|
|
1,744,813
|
|
|
1,898,300
|
|
|
310,178
|
|
EQUITY
|
|
|
|
|
|
|
|
|
|
Shareholders' equity of China Cord Blood
Corporation
|
|
|
|
|
|
Ordinary shares
|
|
|
|
|
|
|
|
|
|
- US$0.0001 par value, 250,000,000 shares
authorized,
73,140,147 shares issued, and 73,003,248 shares
outstanding
as of March 31, 2013 and September 30, 2013,
respectively
|
|
|
50
|
|
|
50
|
|
|
8
|
Additional paid-in capital
|
|
|
798,221
|
|
|
798,221
|
|
|
130,429
|
Treasury stock, at cost
|
|
|
|
|
|
|
|
|
|
(March
31, 2013 and September 30, 2013: 136,899 shares,
respectively)
|
|
|
(2,815)
|
|
|
(2,815)
|
|
|
(460)
|
Accumulated other comprehensive
income
|
|
|
18,256
|
|
|
111,408
|
|
|
18,204
|
Retained earnings
|
|
|
423,420
|
|
|
481,230
|
|
|
78,633
|
Total equity attributable to China Cord Blood
Corporation
|
|
|
1,237,132
|
|
|
1,388,094
|
|
|
226,814
|
Non-controlling interests
|
|
|
4,331
|
|
|
4,598
|
|
|
752
|
Total equity
|
|
|
1,241,463
|
|
|
1,392,692
|
|
|
227,566
|
Total liabilities and equity
|
|
|
2,986,276
|
|
|
3,290,992
|
|
|
537,744
|
CHINA CORD BLOOD CORPORATION
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
For the Three Months and Six Months ended September
30, 2012 and 2013
|
|
|
|
Three months ended September 30,
|
|
Six months ended September 30,
|
|
|
2012
|
|
2013
|
|
2012
|
|
2013
|
|
|
RMB
|
|
RMB
|
|
US$
|
RMB
|
|
RMB
|
|
US$
|
|
|
(in thousands except share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
128,462
|
|
|
141,635
|
|
|
23,143
|
|
243,792
|
|
|
270,356
|
|
|
44,176
|
Direct costs
|
|
|
(27,057)
|
|
|
(27,360)
|
|
|
(4,471)
|
|
(51,446)
|
|
|
(51,852)
|
|
|
(8,473)
|
Gross profit
|
|
|
101,405
|
|
|
114,275
|
|
|
18,672
|
|
192,346
|
|
|
218,504
|
|
|
35,703
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
(1,860)
|
|
|
(2,310)
|
|
|
(377)
|
|
(4,123)
|
|
|
(4,833)
|
|
|
(790)
|
Sales and marketing
|
|
|
(23,517)
|
|
|
(27,633)
|
|
|
(4,515)
|
|
(42,737)
|
|
|
(56,057)
|
|
|
(9,160)
|
General and administrative
|
|
|
(28,984)
|
|
|
(28,042)
|
|
|
(4,582)
|
|
(54,044)
|
|
|
(55,444)
|
|
|
(9,059)
|
Total operating expenses
|
|
|
(54,361)
|
|
|
(57,985)
|
|
|
(9,474)
|
|
(100,904)
|
|
|
(116,334)
|
|
|
(19,009)
|
Operating income
|
|
|
47,044
|
|
|
56,290
|
|
|
9,198
|
|
91,442
|
|
|
102,170
|
|
|
16,694
|
Other expense, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
|
3,859
|
|
|
4,312
|
|
|
705
|
|
7,188
|
|
|
8,494
|
|
|
1,388
|
Interest expense
|
|
|
(14,089)
|
|
|
(16,461)
|
|
|
(2,690)
|
|
(24,265)
|
|
|
(31,219)
|
|
|
(5,101)
|
Exchange gain/(loss)
|
|
|
41
|
|
|
69
|
|
|
11
|
|
51
|
|
|
(55)
|
|
|
(9)
|
Dividend income
|
|
|
-
|
|
|
-
|
|
|
-
|
|
2,420
|
|
|
8,722
|
|
|
1,425
|
Others
|
|
|
(1,002)
|
|
|
514
|
|
|
84
|
|
(766)
|
|
|
1,044
|
|
|
171
|
Total other expense, net
|
|
|
(11,191)
|
|
|
(11,566)
|
|
|
(1,890)
|
|
(15,372)
|
|
|
(13,014)
|
|
|
(2,126)
|
Income before income tax
|
|
|
35,853
|
|
|
44,724
|
|
|
7,308
|
|
76,070
|
|
|
89,156
|
|
|
14,568
|
Income tax expense
|
|
|
(8,466)
|
|
|
(19,706)
|
|
|
(3,220)
|
|
(14,801)
|
|
|
(31,079)
|
|
|
(5,078)
|
Net income
|
|
|
27,387
|
|
|
25,018
|
|
|
4,088
|
|
61,269
|
|
|
58,077
|
|
|
9,490
|
Income attributable to non-controlling
interests
|
|
|
(2,692)
|
|
|
(114)
|
|
|
(19)
|
|
(5,481)
|
|
|
(267)
|
|
|
(44)
|
Net income attributable to China Cord
Blood
Corporation's
shareholders
|
|
|
24,695
|
|
|
24,904
|
|
|
4,069
|
|
55,788
|
|
|
57,810
|
|
|
9,446
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to ordinary shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Basic
|
|
|
0.34
|
|
|
0.33
|
|
|
0.05
|
|
0.75
|
|
|
0.73
|
|
|
0.12
|
- Diluted
|
|
|
0.34
|
|
|
0.33
|
|
|
0.05
|
|
0.75
|
|
|
0.73
|
|
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
- Net effect of foreign currency translation,
net
of nil tax
|
|
|
(1,007)
|
|
|
2,789
|
|
|
456
|
|
(2,424)
|
|
|
9,594
|
|
|
1,568
|
- Net unrealized gain/(loss) in
available-for-sale
equity securities, net of nil
tax
|
|
|
2,624
|
|
|
59,220
|
|
|
9,676
|
|
(19,950)
|
|
|
83,558
|
|
|
13,653
|
Comprehensive income
|
|
|
29,004
|
|
|
87,027
|
|
|
14,220
|
|
38,895
|
|
|
151,229
|
|
|
24,711
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to
non-
controlling
interests
|
|
|
(2,672)
|
|
|
(114)
|
|
|
(19)
|
|
(5,459)
|
|
|
(267)
|
|
|
(44)
|
Comprehensive income attributable to China
Cord Blood Corporation's shareholders
|
|
|
26,332
|
|
|
86,913
|
|
|
14,201
|
|
33,436
|
|
|
150,962
|
|
|
24,667
|
SOURCE China Cord Blood Corporation