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
