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China's Leading Healthcare Market Player Records 200% Increase in Profits and Earnings

Golden Meditech Company Limited
2008-06-25 14:27 723

HONG KONG, June 25 /Xinhua-PRNewswire-FirstCall/ -- Golden Meditech Company Limited ("Golden Meditech" or the "Group"; Sock Code: 8180.HK) today is pleased to announce its annual results for the financial year ended 31 March 2008. Driven by remarkable organic growth of core businesses and exceptional gains from strategic investments, the Group reported record profit (after-tax) of HK$713,653,000, a jump of 209% over last year. The Group's basic earnings per share increased by 198% to HK44.1 cents.

Turnover of the core businesses rose to HK$421,147,000, representing a rise of 27%. The realized gains from the strategic investments contributed HK$332,435,000 to the Group's profit, up 355% over last year. The Group's net asset value rose to HK$3,553,964,000 at a compound annual growth rate (CAGR) exceeding 47% over the last five years.

Mr. Kam Yuen, Chairman of Golden Meditech said, "We position ourselves as a high-growth, integrated hi-tech medical device and healthcare services enterprise. Golden Meditech is not only the largest blood related medical device manufacturer in China, but also the first and largest umbilical cord blood bank service provider in China. Golden Meditech has also had significant interest in one of the largest natural herbal healthcare chains in England and Ireland -- China Healthcare Inc. (CHI). We intend to maintain a leading dominant position in each of individual business segments."

Among the Group's three core business segments, the Medical Device Segment remained the principle source of the revenue, accounting for 67% of total revenue last year. However, the revenue contribution from the Cord Blood Bank Segment has been steadily rising after consecutive years of high growth, and its share has now rose from last year's 19% to 33% this year. The Medical Device Segment is expected to bring in stable and substantial revenue to the Group whereas the revenue of the Cord Blood Bank Segment will be rapidly increasing.

Golden Meditech's proactive and prudent strategic investments and acquisitions in the past had paid off. One excellent example about our strategic investments was the acquisition of cord blood bank business in 2003. Since the acquisition, the cord blood bank business's newly subscribers had exceeded 100% (CAGR). The Group, had also during the year, successfully brought in new strategic investor in its personal electronic consumer goods sales channel, raising a total of US$90 million at the valuation at 50% above the Group's initial cost. Golden Meditech now owns 37.8% UCMC, the largest medical equipment distributor in China and 33.5% Pypo Digital, a nationwide consumer electronic products distributor.

About Golden Meditech Company Limited

Golden Meditech: Founded in 2000 and listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited in December 2001, Golden Meditech is the first hi-tech medical device enterprise that went public outside of the PRC. During the past few years, thanks to its great efforts in innovation and market expansion, as well as its first-mover abilities in capturing the emerging market opportunities, Golden Meditech's medical device, healthcare services and natural herbal medicines have all established dominant positions in each of its own sectors. Going forward, Golden Meditech will continue its pursuit of becoming China's leading integrated medical group through organic growth, acquisitions and strategic investments.

For enquiries, please contact the investor relations department of Golden Meditech Company Limited.

Contact:

Dennis Haikuan Lu

Investor Relations Manager

Golden Meditech Company Limited (8180.HK)

Tel: +852-3605-8138

Fax: +852-3605-8181

Email: ir@goldenmeditech.com

Source: Golden Meditech Company Limited
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