The China Cord Blood Corporation (CCBC) is the first and the only cord blood banking operator in China. The bank is responsible for cord blood collection, hematopoietic processing of stem cell, laboratory testing and stem cell storage services.
CCBC releases its preliminary results for the fiscal year of 2012. These financial data remains unaudited and it ended on June 30, 2011. Its first quarter revenue is increased by 22% ($13. 5 Million). The bank’s Chairperson & Chief Executive Officer releases am official statement and she said,
“Our first quarter delivered strong financial performance driven by sustained growth in subscriber demand year-over-year following the upward price adjustment implemented in April 2011. Our strategy to develop a strong sales network while broadening our commercial reach has built a widely-recognized brand and an easily accessible network that will greatly facilitate our efforts to attract new subscribers.”
“In addition to solid financial performance, this quarter had several exciting developments. The Ministry of Health has issued new guidelines extending the ‘Ten Licenses Policy’, which reiterated that no more than ten licenses will be issued for the provision of cord blood banking services through 2015.”
“We welcome the policy extension as it sets a clear guideline for the industry and the general public. With access to three licenses and our 19.92% investment in Shandong Cord Blood Bank, we are fully committed to the development of the cord blood banking industry in China and will continue to grow by driving subscriber penetration rates…”
CCBC’s subscribers (more than 198,000) and new registrations (more than 12,000) have also moved up. The gross profit is increased by 24.1% or $10.5 Million and there’s also two percent increased in the gross margin (from 75.9% to 77.3%) from the prior year. Most importantly, its operating income goes up and it now clocks at 31.7%.