HONG KONG, Nov. 20, 2019 /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 commented on a new regulation
related to companies in possession of human DNA information
relating to the PRC. The Company is still in the process of
evaluating the implications of the new regulation on the cord blood
banking industry and its business.
The Regulation of the People's
Republic of China on the Administration of Human Genetic
Resources (the "Regulation") has come into effect and the Company
recently received an inquiry concerning its impact on the Company.
The Regulation specifies that "the collection, preservation,
utilization and external provision of China's human genetic resources shall comply
with this regulation." The Regulation also states that foreign
organizations and domestic institutions founded or controlled by
foreign entities will have to work with Chinese partners if they
need human genetic resources in China for scientific research. According to
the Regulation, human genetic resources refer to substances
containing human genes, such as organs and cells, as well as
information about human genes.
The Regulation itself and its preliminary explanations do not
specify whether the services that the Company provides fall into
its targeted regulation category. In light of the Regulation's
ambiguity, the Company will further evaluate the potential effects
of the Regulation on the Company and the cord blood banking
industry in China.
The Company cautions its shareholders and others considering
trading its ordinary shares that further interpretation of the
Regulation has not yet been obtained and that the application of
the Regulation on the Company and the cord blood banking industry
in China is not yet conclusive.
The Company will issue further announcements to keep the market
informed in case of any new material developments.
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 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. 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