HONG KONG, Jan. 31, 2018 /PRNewswire/ -- China Cord
Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), a leading cord blood bank
operator in China, today announced that Nanjing Ying Peng Hui
Kang Medical Industry Investment Partnership (limited partnership)
("Nanjing Ying Peng"), via its
subsidiary, has become a major shareholder of the
Company.
Following the entry of Nanjing Ying Peng, Mr. Ping Xu was appointed as a director of the Board
of Directors of the Company (the "Board"). Mr. Xu is a senior vice
president of Sanpower Group Co., Ltd and the authorized
representative of the executive partner of Nanjing Ying Peng. Mr.
Xu possesses extensive knowledge and experience in cross-border
M&A and project financing. Mr. Xu also spearheaded multiple
merger and acquisition initiatives both inside and outside of
the People's Republic of
China.
Simultaneously, the Company announced that Mr. Yuen Kam has
resigned from his positions as Chairman and director of the Board
and as Chairman and member of the Nominating and Corporate
Governance Committee (the "Nominating Committee") of the Company.
His resignation was accepted by the Board and is effective as of
January 31, 2018.
Following Mr. Kam's resignation, Ms. Ting Zheng, Chief Executive
Officer of the Company, was appointed as the Chairperson of the
Board and the Chairperson of the Nominating Committee. Mr.
Mark Chen, one of the Company's
existing independent non-executive directors also joined as a new
member to the Nominating Committee.
"We would like to express our most sincere gratitude to Mr. Kam
for his years of excellent leadership and incalculable
contributions. At the same time, we welcome Mr. Xu to the team. We believe Mr. Xu will be an
invaluable addition to our Board leadership and his extensive
experience will provide further insight towards the Company's future developments." said Ms. Ting
Zheng, "We are excited and look forward to working together with
Nanjing Ying Peng to continue to expand our cord blood banking
initiatives."
Nanjing Ying Peng is a limited partnership incorporated
in China and governed by the laws
of China. Nanjing Ying Peng, which owns 65.4% of the total issued
share capital of the Company, will continue to observe and comply
with all relevant reporting and filing requirements.
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 no new licenses will be granted before 2020 in addition to the
seven licenses 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 as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events, performance and
results of operations, and underlying assumptions and other
statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including,
but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulation, and other risks
contained in statements filed from time to time with the U.S.
Securities and Exchange Commission. All such forward-looking
statements, whether written or oral, and whether made by or on
behalf of the Company, are expressly qualified by the cautionary
statements and any other cautionary statements which may accompany
the forward-looking statements. In addition, the Company disclaims
any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
William Zima
Tel: (+86) 10-6583-7511 (China) or
(+1) 646-405-5185 (U.S.)
Email: william.zima@icrinc.com
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SOURCE China Cord Blood Corporation