Added 18,985 New Subscribers in
3Q22
Revenues Up 9.1% YoY to RMB317.2 Million ($49.8
Million)
Gross Profit Up 9.8% YoY to RMB269.9
Million ($42.4
Million)
Operating Income Up 20.8% YoY to
RMB149.7 Million ($23.5 Million)
Non-GAAP Operating
Income Up 18.6% YoY to RMB161.6
Million ($25.4
Million)
Conference Call to be Held on
March 1, 2022, at 8:00 a.m. ET
HONG KONG, Feb. 28, 2022 /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 its
unaudited financial results for the third quarter and first nine
months of fiscal 2022, ended December 31,
2021.
Third Quarter Fiscal 2022 Highlights
- Revenues increased by 9.1% year-over-year ("YoY") to
RMB317.2 million ($49.8 million).
- New subscribers and accumulated subscriber base were 18,985 and
955,864[1], respectively.
- Gross profit increased by 9.8% YoY to RMB269.9 million ($42.4
million). Gross margin increased to 85.1% from 84.6% in the
prior year period.
- Operating income increased by 20.8% YoY to RMB149.7 million ($23.5
million). Operating margin increased to 47.2% from 42.6% in
the prior year period.
- Operating income before depreciation and amortization
("non-GAAP operating income"[2]) increased by 18.6% YoY
to RMB161.6 million ($25.4 million).
- Net income attributable to the Company's shareholders increased
by 15.1% to RMB134.2 million
($21.1 million).
- Net cash provided by operating activities was RMB121.8 million ($19.1
million).
First Nine Months Fiscal 2022 Highlights
- Revenues increased by 10.3% YoY to RMB946.0 million ($148.5
million).
- New subscribers and accumulated subscriber base were 57,724 and
955,864[1], respectively.
- Gross profit increased by 11.1% YoY to RMB804.7 million ($126.3
million).
- Operating income increased by 17.7% YoY to RMB466.7 million ($73.2
million).
- Non-GAAP operating income[2] increased by 16.0% YoY
to RMB502.9 million ($78.9 million).
- Net income attributable to the Company's shareholders increased
by 4.2% to RMB396.3 million
($62.2 million), as growth in
operating income was partially offset by a decrease in fair value
of equity securities, or "mark-to-market loss."
- Net cash provided by operating activities increased by 7.6% YoY
to RMB451.6 million ($70.9 million).
"Despite ongoing challenges from a resurgence of COVID-19 and
the general trend of fewer newborns in China, we managed to recruit 18,985 new
subscribers in the third quarter," said Ms. Ting Zheng, Chief
Executive Officer and Chairperson of GCBC. "As regulatory
uncertainties affecting China's
cord blood banking industry remain as we head to the Year of Tiger,
management will continue to monitor any potential regulatory
changes, while carrying on with our operating efforts and
thoroughly examining business development opportunities related to
cord blood stem cells, as we aim to generate growth in new
areas."
Summary – Third Quarter and Nine Months Ended December 31, 2020 and 2021
|
|
Three Months Ended
December 31,
|
|
Nine Months Ended
December 31,
|
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
(in
thousands)
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
290,798
|
|
317,202
|
49,776
|
|
857,318
|
|
946,046
|
148,455
|
Gross
Profit
|
|
245,920
|
|
269,921
|
42,357
|
|
724,279
|
|
804,715
|
126,277
|
Operating
Income[3]
|
|
123,957
|
|
149,719
|
23,494
|
|
396,627
|
|
466,727
|
73,239
|
Change in Fair Value
of
|
|
|
|
|
|
|
|
|
|
|
Equity
Securities
|
|
6,003
|
|
599
|
94
|
|
30,107
|
|
(6,416)
|
(1,007)
|
Net Income
Attributable to
the Company's
Shareholders
|
|
116,570
|
|
134,192
|
21,058
|
|
380,513
|
|
396,349
|
62,195
|
Earnings per
Ordinary
|
|
|
|
|
|
|
|
|
|
|
Share
(RMB/US$)
|
|
|
|
|
|
|
|
|
|
|
–
Basic
|
|
0.96
|
|
1.11
|
0.17
|
|
3.13
|
|
3.26
|
0.51
|
–
Diluted
|
|
0.96
|
|
1.11
|
0.17
|
|
3.13
|
|
3.26
|
0.51
|
|
|
|
|
|
|
|
|
|
|
|
Revenues Breakdown
(%)
|
|
|
|
|
|
|
|
|
|
|
Processing Fees and
Other
|
|
|
|
|
|
|
|
|
|
|
Services
|
|
56.8%
|
|
57.1%
|
|
|
57.3%
|
|
57.7%
|
|
Storage
Fees
|
|
43.2%
|
|
42.9%
|
|
|
42.7%
|
|
42.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
New Subscribers
(persons)
|
|
17,802
|
|
18,985
|
|
|
52,678
|
|
57,724
|
|
Total Accumulated
Subscribers (persons)
|
|
882,982
|
|
955,864[1]
|
|
|
882,982
|
|
955,864[1]
|
|
Summary – Selected Cash Flow Statement Items
|
|
Three Months Ended
December 31,
|
|
Nine Months Ended
December 31,
|
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
(in
thousands)
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
Net cash provided
by
|
|
|
|
|
|
|
|
|
|
|
operating
activities
|
|
144,988
|
|
121,779
|
19,110
|
|
419,631
|
|
451,578
|
70,862
|
Net cash used
in
|
|
|
|
|
|
|
|
|
|
|
investing
activities
|
|
(5,996)
|
|
(7,145)
|
(1,122)
|
|
(17,316)
|
|
(13,378)
|
(2,098)
|
Net cash used
in
|
|
|
|
|
|
|
|
|
|
|
financing
activities
|
|
-
|
|
-
|
-
|
|
(6,074)
|
|
(7,729)
|
(1,212)
|
Third Quarter Fiscal 2022 Financial Results
REVENUES. Revenues increased by 9.1% YoY to
RMB317.2 million ($49.8 million) in the third quarter of fiscal
2022 as a result of the increase in new subscribers and a larger
subscriber base.
During the reporting quarter, the Group recorded a 6.6% YoY
increase in new subscribers to 18,985 despite challenges from the
COVID-19 pandemic and the general downward trend of newborns in the
Company's operating markets. Revenues generated from processing
fees and other services increased by 9.7% YoY to RMB181.2 million ($28.5
million) in the reporting quarter, representing 57.1% of
total revenues compared to 56.8% in the prior year period.
As of December 31, 2021, the
accumulated subscriber base expanded to 955,864[1].
Revenues generated from storage fees increased by 8.3% YoY to
RMB136.0 million ($21.3 million) in the reporting quarter.
GROSS PROFIT. Gross profit for the third quarter
increased by 9.8% YoY to RMB269.9
million ($42.4 million). Due
to the effect of economy of scale, which was partially offset by
higher labor costs, gross margin improved to 85.1% from 84.6% in
the prior year period.
OPERATING INCOME. As a result of topline growth
and tighter cost control measures, operating income for the
reporting quarter increased by 20.8% YoY to RMB149.7 million ($23.5
million). Operating margin improved to 47.2% from 42.6% in
the prior year period. Depreciation and amortization expenses for
the third quarter were RMB11.9
million ($1.9 million),
compared to RMB12.3 million in the
prior year period. Non-GAAP operating income[2]
increased by 18.6% YoY to RMB161.6
million ($25.4 million) in the
reporting quarter.
Research and Development
Expenses. Research and development expenses in the third
quarter decreased to RMB6.8 million
($1.1 million) from RMB9.0 million in the prior year period.
Sales and Marketing
Expenses. During the reporting quarter, the Company
continued to closely monitor its sales and promotional activities
as obstacles for frontline client access resulting from COVID 19
protocols remained. In light of labor cost
saving, sales and marketing expenses decreased by 4.5% YoY
to RMB65.9 million ($10.3 million). Sales and marketing expenses as a
percentage of revenues was 20.8%, compared to 23.7% in the prior
year period.
General and Administrative
Expenses. General and administrative expenses increased by
7.9% YoY to RMB47.4 million
($7.4 million) due to higher
professional fees, partially offset by lower staff costs and
provisions. General and administrative expenses as a percentage of
revenues edged down to 15.0% from 15.1% in the prior year
period.
OTHER INCOME.
Change in fair value of
equity securities. In the reporting period, the Company
recognized a mark-to-market gain of RMB0.6
million ($0.09 million),
compared to a mark-to-market gain of RMB6.0
million in the prior year period. The changes were mainly
attributable to the Company's investments in equity securities.
NET INCOME ATTRIBUTABLE TO THE COMPANY'S
SHAREHOLDERS. Income before income tax for the third
quarter increased by 14.2% YoY to RMB159.1
million ($25.0 million).
Income tax expense for the third quarter was RMB23.6 million ($3.7
million). Net income attributable to the Company's
shareholders for the reporting quarter increased by 15.1% YoY to
RMB134.2 million ($21.1 million). Net margin for the reporting
quarter increased to 42.3% from 40.1% of the prior year period.
EARNINGS PER SHARE. Basic and diluted earnings per
ordinary share for the third quarter of fiscal 2022 was
RMB1.11 ($0.17).
Nine Month Fiscal 2022 Financial Results
Total revenues for the first nine months of fiscal 2022
increased by 10.3% YoY to RMB946.0
million ($148.5 million) due
to the increase in new subscribers and an enlarged subscriber base.
Revenues from processing fees and other services increased by 11.2%
YoY to RMB546.1 million ($85.7 million), and revenues from storage fees
increased by 9.2% YoY to RMB399.9
million ($62.8 million). Gross
profit increased by 11.1% YoY to RMB804.7
million ($126.3 million).
Operating income increased by 17.7% YoY to RMB466.7 million ($73.2
million). Non-GAAP operating income[2] increased
by 16.0% YoY to RMB502.9 million
($78.9 million). As growth in
operating income was partially offset by a mark-to-market loss, net
income attributable to the Company's shareholders improved by 4.2%
to RMB396.3 million ($62.2 million). Basic and diluted earnings per
ordinary share increased to RMB3.26
($0.51). Net cash provided by
operating activities in the first nine months of fiscal 2022
improved by 7.6% YoY to RMB451.6
million ($70.9 million).
Conference Call
The Company will host a conference call at 8:00 a.m. ET on Tuesday, March 1, 2022, to
discuss its financial performance and give a brief overview of the
Company's recent developments, followed by a question-and-answer
session. Interested parties can access the audio webcast through
the Company's IR website at
http://ir.globalcordbloodcorp.com. A replay of the webcast
will be accessible two hours after the conference call and
available for seven days at the same URL above. Listeners can also
access the call by dialing 1-646-722-4977 or 1-855-824-5644 for US
callers, or +852-3027-6500 for Hong
Kong callers, access code: 61137296#.
[1] During the three months and nine
months ended December 31, 2021, 18,985 and 57,724 new subscribers
were recruited. During the three months and nine months ended
December 31, 2021, the Company determined that the recoverability
of 1,213 and 3,297 private cord blood units was remote and
therefore, the Company terminated their subscription services
according to the subscription contracts. Out of these prior private
cord blood units, 999 and 2,683 prior private cord blood units were
being treated as if they were donated cord blood units and will be
part of the Company's non-current inventories. Hence, the net
accumulated subscriber base was 955,864 as of December 31,
2021.
[2] See exhibit 3 to this press
release for a reconciliation of non-GAAP operating income to
exclude the non-cash items related to the depreciation and
amortization expenses to the comparable financial measure prepared
in accordance with U.S. generally accepted accounting principles
("U.S. GAAP").
[3] The reported operating income for
the three months ended December 31, 2020 and 2021 included
depreciation and amortization expenses related to property, plant
and equipment and intangible assets of RMB12.3 million and RMB11.9
million ($1.9 million), respectively. The reported operating income
for the nine months ended December 31, 2020 and 2021 included
depreciation and amortization expenses related to property, plant
and equipment and intangible assets of RMB36.9 million and RMB36.2
million ($5.7 million), respectively.
|
Use of Non-GAAP Financial Measures
GAAP results for the three months and nine months ended
December 31, 2021, include non-cash
items related to depreciation and amortization expenses. To
supplement the Company's unaudited condensed consolidated financial
statements presented on a U.S. GAAP basis, the Company has provided
adjusted financial information excluding the impact of these items
in this press release. The non-GAAP financial measure represents
non-GAAP operating income. Such adjustment is a departure of U.S.
GAAP; however, the Company's management believes that these
adjusted measures provide investors with a better understanding of
how the results relate to the Company's historical performance.
Also, management uses non-GAAP operating income as a measurement
tool for evaluating actual operating performance compared to budget
and prior periods. These adjusted measures should not be considered
an alternative to operating income, or any other measure of
financial performance or liquidity presented in accordance with
U.S. GAAP. These measures are not necessarily comparable to a
similarly titled measure of another company. A reconciliation of
the adjustments to U.S. GAAP results appears in exhibit 3
accompanying this press release. This additional adjusted
information is not meant to be considered in isolation or as a
substitute for U.S. GAAP financials. The adjusted financial
information that the Company provides also may differ from the
adjusted information provided by other companies.
About Global Cord Blood Corporation
Global Cord Blood Corporation is an umbilical cord blood banking
operator serving multiple regions in China. 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.
The forward-looking statements included in this press release
are subject to risks, uncertainties and assumptions about the
Company's businesses and business environments. These statements
reflect the Company's current views with respect to future events
and are not a guarantee of future performance. Actual results of
the Company's operations may differ materially from information
contained in the forward-looking statements as a result of risk
factors some of which include, among other things: the ongoing
impact of COVID-19, including the partial lockdowns implemented in
various cities in the PRC and the imposition by some hospitals in
the PRC of restrictions on entrance to solely to hospital staff and
patients; levels of consumer confidence in the healthcare services
sector generally in the PRC as a result of the outbreak; the length
of the COVID-19 outbreak and severity of such outbreak across the
globe; the pace of recovery following the COVID-19 outbreak;
continued compliance with government regulations regarding cord
blood banking in the People's Republic of
China, or PRC and any other jurisdiction in which the
Company conducts its operations; changing legislation or regulatory
environments in the PRC (including but not limited to cord blood
license related regulations, Biosecurity laws, antitrust laws) and
any other jurisdiction in which the Company conducts its
operations; the acceptance by subscribers of the Company's
different pricing and payment options and reaction to the
introduction of the Company's premium-quality pricing strategy;
demographic trends in the regions of the PRC in which the Company
is the exclusive licensed cord blood banking operator; labor and
personnel relations; the existence of a significant shareholder
able to influence and direct the corporate policies of the Company;
credit risks affecting the Company's revenue and profitability;
changes in the healthcare industry, including those which may
result in the use of stem cell therapies becoming redundant or
obsolete; the Company's ability to effectively manage its growth,
including maintaining effective controls and procedures and
attracting and retaining key management and personnel; changing
interpretations of generally accepted accounting principles; the
availability of capital resources, including in the form of capital
markets financing opportunities, in light of legislative
developments in the U.S. affecting listed issuers whose independent
registered public accounting firms are based in China and not subject to U.S. Public Company
Accounting Oversight Board inspections, international pressure on
trade and currency against the PRC and its potential impact on the
PRC consumer behavior, as well as general economic conditions, and
other relevant risks detailed in the Company's filings with the
Securities and Exchange Commission in the
United States.
This announcement contains translations of certain Renminbi
amounts into U.S. dollars at specified rates solely for the
convenience of readers. Unless otherwise noted, all translations
from Renminbi to U.S. dollars as of and for the period ended
December 31, 2021 were made at the
noon buying rate of RMB6.3726 to
$1.00 on December 30, 2021 in the City of New York for cable transfers in
Renminbi per U.S. dollar as certified for customs purposes by the
Federal Reserve Bank of New York.
Global Cord Blood Corporation makes no representation that the
Renminbi or U.S. dollar amounts referred to in this press release
could have been or could be converted into U.S. dollars or
Renminbi, at any particular rate or at all.
EXHIBIT
1
|
|
|
|
GLOBAL CORD BLOOD
CORPORATION
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
As of March 31 and
December 31, 2021
|
|
|
|
|
|
|
|
March
31,
|
|
December
31,
|
|
|
2021
|
|
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(in thousands
except share data)
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
6,075,798
|
|
6,505,014
|
|
1,020,780
|
|
Accounts receivable,
less allowance for credit losses
|
|
|
|
|
|
|
(March 31,
2021: RMB137,961; December 31, 2021:
|
|
|
|
|
|
|
RMB152,100
(US$23,868))
|
130,298
|
|
154,074
|
|
24,177
|
|
Inventories
|
44,257
|
|
47,390
|
|
7,437
|
|
Prepaid expenses and
other receivables
|
47,788
|
|
75,721
|
|
11,882
|
|
Total current
assets
|
6,298,141
|
|
6,782,199
|
|
1,064,276
|
|
Property, plant and
equipment, net
|
498,656
|
|
480,229
|
|
75,359
|
|
Operating lease
right-of-use assets
|
5,039
|
|
3,434
|
|
539
|
|
Non-current
deposits
|
344,752
|
|
343,541
|
|
53,909
|
|
Non-current accounts
receivable, less allowance for credit
|
|
|
|
|
|
|
losses (March
31, 2021: RMB67,095; December 31,
|
|
|
|
|
|
|
2021:
RMB59,173 (US$9,286))
|
217,208
|
|
253,539
|
|
39,785
|
|
Inventories
|
91,446
|
|
94,555
|
|
14,838
|
|
Intangible assets,
net
|
88,202
|
|
84,737
|
|
13,297
|
|
Investment in equity
securities at fair value
|
117,911
|
|
107,726
|
|
16,905
|
|
Other equity
investment
|
189,129
|
|
189,129
|
|
29,678
|
|
Deferred tax
assets
|
55,845
|
|
58,637
|
|
9,201
|
|
Total
assets
|
7,906,329
|
|
8,397,726
|
|
1,317,787
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts
payable
|
9,479
|
|
11,674
|
|
1,832
|
|
Accrued expenses and
other payables
|
136,448
|
|
144,668
|
|
22,702
|
|
Operating lease
liabilities
|
1,636
|
|
1,695
|
|
266
|
|
Deferred
revenue
|
449,359
|
|
451,974
|
|
70,925
|
|
Income tax
payable
|
29,547
|
|
26,483
|
|
4,156
|
|
Total current
liabilities
|
626,469
|
|
636,494
|
|
99,881
|
|
Non-current deferred
revenue
|
2,392,906
|
|
2,457,490
|
|
385,634
|
|
Non-current operating
lease liabilities
|
147
|
|
-
|
|
-
|
|
Other non-current
liabilities
|
482,224
|
|
499,900
|
|
78,445
|
|
Deferred tax
liabilities
|
16,132
|
|
16,245
|
|
2,549
|
|
Total
liabilities
|
3,517,878
|
|
3,610,129
|
|
566,509
|
|
|
|
EQUITY
|
|
|
|
|
|
|
Shareholders'
equity of Global Cord Blood
|
|
|
|
|
|
|
Corporation
|
|
|
|
|
|
|
Ordinary
shares
|
|
|
|
|
|
|
-
US$0.0001 par value, 250,000,000 shares authorized,
|
|
|
|
|
|
|
121,687,974 and
121,551,075 shares issued and
|
|
|
|
|
|
|
outstanding as of March
31 and December 31, 2021,
|
|
|
|
|
|
|
respectively
|
83
|
|
83
|
|
13
|
|
Additional paid-in
capital
|
2,101,582
|
|
2,101,582
|
|
329,784
|
|
Treasury stock, at
cost (March 31 and December 31,
|
|
|
|
|
|
|
2021: 136,899 shares,
respectively)
|
(2,815)
|
|
(2,815)
|
|
(442)
|
|
Accumulated other
comprehensive losses
|
(103,179)
|
|
(106,718)
|
|
(16,746)
|
|
Retained
earnings
|
2,386,187
|
|
2,782,536
|
|
436,640
|
|
Total equity
attributable to Global Cord Blood
|
|
|
|
|
|
|
Corporation
|
4,381,858
|
|
4,774,668
|
|
749,249
|
|
Non-controlling
interests
|
6,593
|
|
12,929
|
|
2,029
|
|
Total
equity
|
4,388,451
|
|
4,787,597
|
|
751,278
|
|
Total liabilities
and equity
|
7,906,329
|
|
8,397,726
|
|
1,317,787
|
|
EXHIBIT
2
|
|
|
|
GLOBAL CORD BLOOD
CORPORATION
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
For the Three Months
and Nine Months Ended December 31, 2020 and 2021
|
|
|
|
|
|
|
|
|
|
Three months ended
December 31,
|
|
Nine months ended
December 31,
|
|
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
(in thousands
except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
290,798
|
|
317,202
|
|
49,776
|
|
857,318
|
|
946,046
|
|
148,455
|
|
Cost of
revenues
|
|
(44,878)
|
|
(47,281)
|
|
(7,419)
|
|
(133,039)
|
|
(141,331)
|
|
(22,178)
|
|
Gross
profit
|
|
245,920
|
|
269,921
|
|
42,357
|
|
724,279
|
|
804,715
|
|
126,277
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
|
(8,985)
|
|
(6,845)
|
|
(1,074)
|
|
(18,283)
|
|
(17,516)
|
|
(2,749)
|
|
Sales and
marketing
|
|
(68,994)
|
|
(65,916)
|
|
(10,344)
|
|
(178,178)
|
|
(182,243)
|
|
(28,598)
|
|
General and
administrative
|
|
(43,984)
|
|
(47,441)
|
|
(7,445)
|
|
(131,191)
|
|
(138,229)
|
|
(21,691)
|
|
Total operating
expenses
|
|
(121,963)
|
|
(120,202)
|
|
(18,863)
|
|
(327,652)
|
|
(337,988)
|
|
(53,038)
|
|
Operating
income
|
|
123,957
|
|
149,719
|
|
23,494
|
|
396,627
|
|
466,727
|
|
73,239
|
|
Other income,
net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
7,190
|
|
8,004
|
|
1,256
|
|
22,767
|
|
24,183
|
|
3,795
|
|
Foreign currency
exchange
|
|
|
|
|
|
|
|
|
|
|
|
|
|
gains/(losses)
|
|
75
|
|
(526)
|
|
(83)
|
|
183
|
|
(395)
|
|
(62)
|
|
Change in fair value of
equity
securities
|
|
6,003
|
|
599
|
|
94
|
|
30,107
|
|
(6,416)
|
|
(1,007)
|
|
Dividend
income
|
|
-
|
|
-
|
|
-
|
|
1,281
|
|
1,120
|
|
176
|
|
Others
|
|
2,152
|
|
1,329
|
|
209
|
|
5,070
|
|
2,551
|
|
400
|
|
Total other income,
net
|
|
15,420
|
|
9,406
|
|
1,476
|
|
59,408
|
|
21,043
|
|
3,302
|
|
Income before income
tax
|
|
139,377
|
|
159,125
|
|
24,970
|
|
456,035
|
|
487,770
|
|
76,541
|
|
Income tax
expense
|
|
(21,220)
|
|
(23,568)
|
|
(3,698)
|
|
(70,131)
|
|
(85,085)
|
|
(13,352)
|
|
Net
income
|
|
118,157
|
|
135,557
|
|
21,272
|
|
385,904
|
|
402,685
|
|
63,189
|
|
Net
income attributable to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
non-controlling
interests
|
|
(1,587)
|
|
(1,365)
|
|
(214)
|
|
(5,391)
|
|
(6,336)
|
|
(994)
|
|
Net income
attributable to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global Cord Blood
Corporation's
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders
|
|
116,570
|
|
134,192
|
|
21,058
|
|
380,513
|
|
396,349
|
|
62,195
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to
ordinary shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
Basic
|
|
0.96
|
|
1.11
|
|
0.17
|
|
3.13
|
|
3.26
|
|
0.51
|
|
-
Diluted
|
|
0.96
|
|
1.11
|
|
0.17
|
|
3.13
|
|
3.26
|
|
0.51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive losses,
net of nil income taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Foreign
currency translation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
adjustments
|
|
(4,289)
|
|
(1,364)
|
|
(214)
|
|
(8,930)
|
|
(3,539)
|
|
(555)
|
|
Comprehensive
income
|
|
113,868
|
|
134,193
|
|
21,058
|
|
376,974
|
|
399,146
|
|
62,634
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
attributable to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
non-controlling
interests
|
|
(1,587)
|
|
(1,365)
|
|
(214)
|
|
(5,391)
|
|
(6,336)
|
|
(994)
|
|
Comprehensive
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
attributable to
Global Cord Blood
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporation's
shareholders
|
|
112,281
|
|
132,828
|
|
20,844
|
|
371,583
|
|
392,810
|
|
61,640
|
|
EXHIBIT
3
|
|
GLOBAL CORD BLOOD
CORPORATION
|
RECONCILIATION OF
NON-GAAP OPERATING INCOME
|
For the Three Months
and Nine Months Ended December 31, 2020 and 2021
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2020
|
|
2021
|
|
2020
|
|
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP amount of
operating
|
|
|
|
|
|
|
|
|
|
|
|
|
income
|
|
123,957
|
|
149,719
|
|
23,494
|
|
396,627
|
|
466,727
|
|
73,239
|
Depreciation and
amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
expenses[4]
|
|
12,297
|
|
11,887
|
|
1,865
|
|
36,919
|
|
36,152
|
|
5,673
|
Non-GAAP
operating
|
|
|
|
|
|
|
|
|
|
|
|
|
income
|
|
136,254
|
|
161,606
|
|
25,359
|
|
433,546
|
|
502,879
|
|
78,912
|
|
|
|
|
|
|
[4] Depreciation and amortization
expenses relate to property, plant and equipment and intangible
assets respectively.
|
|
|
View original
content:https://www.prnewswire.com/news-releases/global-cord-blood-corporation-reports-financial-results-for-the-third-quarter-and-first-nine-months-of-fiscal-2022-301491399.html
SOURCE Global Cord Blood Corporation