1Q20 Added 20,815 New
Subscribers
Revenues Up 16.9% YoY to RMB273.4 Million ($39.8
Million)
Gross Profit Up 19.4% YoY to RMB227.6
million ($33.2
million)
Operating Income Up
17.8% YoY to RMB112.4 Million
($16.4 Million)
Non-GAAP Operating Income Up 15.0% YoY to RMB124.8 Million ($18.2
Million)
Conference Call to be Held on
August 28, 2019, at 8:00 a.m. ET
HONG KONG, Aug. 27, 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 its unaudited
financial results for the first quarter of fiscal 2020 ended
June 30, 2019.
First Quarter of Fiscal 2020 Highlights
- Revenues increased by 16.9% year-over-year ("YoY") to
RMB273.4 million ($39.8 million).
- New subscribers and accumulated subscriber base were 20,815 and
770,699[1],
respectively.
- Gross profit increased by 19.4% YoY to RMB227.6 million ($33.2
million). Gross margin improved to 83.3% from 81.5% in the
prior year period.
- Operating income increased by 17.8% YoY to RMB112.4 million ($16.4
million).
- Operating income before depreciation and
amortization[2]
("non-GAAP operating income") increased by 15.0% YoY to
RMB124.8 million ($18.2 million).
- Net income attributable to the Company's shareholders increased
significantly by 47.3% YoY to RMB108.3
million ($15.8 million) as a
result of improved operating income and an increase in fair value
of equity securities ("mark-to-market gains") of RMB10.0 million ($1.5
million) in the first quarter.
"During the first quarter of fiscal 2020, even though
macro-economic uncertainty continued to pressure consumer spending
on preventive healthcare services, we managed to record 20,815 new
subscribers, in line with our expectations," said Ms. Ting Zheng, Chairperson and
Chief Executive Officer of GCBC. "As we step into a more
economically volatile fiscal year, we will remain alert to the
market changes as well as any potential developments in the
regulatory regime governing the cord blood banking industry in
China. We will strive to expand
service offerings and may mitigate business concentration risk
through acquisitions in addition to increasing our penetration and
business expansion."
Summary – First
Quarter Ended June 30, 2018 and 2019
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
|
2018
|
|
2019
|
(in
thousands)
|
|
RMB
|
|
RMB
|
|
|
US$
|
Revenues
|
|
233,821
|
|
273,375
|
|
|
39,822
|
Gross
Profit
|
|
190,663
|
|
227,626
|
|
|
33,158
|
Operating
Income[3]
|
|
95,442
|
|
112,386
|
|
|
16,371
|
Change in Fair Value
of Equity Securities
|
|
(9,321)
|
|
9,979
|
|
|
1,454
|
Net Income
Attributable to the Company's
Shareholders
|
|
73,542
|
|
108,344
|
|
|
15,783
|
Earnings per Ordinary
Share (RMB/US$)
– Basic
|
|
0.61
|
|
0.89
|
|
|
0.13
|
–
Diluted
|
|
0.61
|
|
0.89
|
|
|
0.13
|
|
|
|
|
|
|
|
|
Revenue Breakdown
(%)
|
|
|
|
|
|
|
|
Processing Fees and
Other Services
|
|
61.3%
|
|
61.3%
|
|
|
|
Storage
Fees
|
|
38.7%
|
|
38.7%
|
|
|
|
|
|
|
|
|
|
|
|
New Subscribers
(persons)
|
|
20,601
|
|
20,815
|
|
|
|
Total Accumulated
Subscribers (persons)
|
|
682,081
|
|
770,699[1]
|
|
|
|
|
|
|
|
|
|
|
|
Summary – Selected
Cash Flow Statement Items
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
|
2018
|
|
2019
|
(in
thousands)
|
|
RMB
|
|
RMB
|
|
US$
|
Net cash provided by
operating activities
|
|
175,317
|
|
169,756
|
|
24,728
|
Net cash used in
investing activities
|
|
(7,126)
|
|
(6,625)
|
|
(965)
|
Net cash provided by
financing activities
|
|
-
|
|
-
|
|
-
|
First Quarter of Fiscal 2020 Financial Results
REVENUES. Revenues increased by 16.9% to
RMB273.4 million ($39.8 million) in the first quarter of fiscal
2020. The increase was driven by the implementation of new
processing fee since April 2019 and
the enlarged client base.
Despite the impact from the processing fee price hike, the new
subscriber number still reached the Company's target level. As a
result, revenues generated from processing fees and other services
in the reporting quarter increased by 16.8 %YoY to RMB167.5 million ($24.4
million).
As the accumulated subscriber base grew to 770,699[1] by the end of June 2019, revenues generated from storage fees
increased by 17.1% YoY to RMB105.9
million ($15.4
million) in the reporting quarter. Storage fee revenues
accounted for 38.7% of total revenues, which was the same as in the
previous year period.
GROSS PROFIT. Gross profit for the reporting
quarter increased by 19.4% YoY to RMB227.6
million ($33.2 million). Gross
margin improved to 83.3% from 81.5% in the prior year period. Such
margin improvement was mainly due to the increase in processing fee
which exceeded the increase in direct costs such as raw materials
and collection costs.
OPERATING INCOME. As the increase in gross profit
was partially offset by the increase in operating expenses,
operating income for the reporting quarter increased by 17.8% YoY
to RMB112.4 million ($16.4 million). Operating margin increased to
41.1% in the reporting quarter from 40.8% in the prior year period.
Depreciation and amortization expenses related to properties, plant
and equipment and intangible assets for the first quarter were
RMB12.4 million ($1.8 million), compared to RMB13.1 million in the prior year period.
Non-GAAP operating income[2] improved by 15.0% YoY to
RMB124.8 million ($18.2 million).
Sales and Marketing
Expenses. Sales and marketing expenses for the reporting
quarter amounted to RMB60.6 million
($8.8 million) compared to
RMB51.4 million in the prior year
period. Processing fee upward adjustment combined with lackluster
consumer spending required more intense sales and marketing efforts
to achieve the Company's conversion targets. The Company also
stepped up its sales force recruitment effort with more hiring.
Sales and marketing expenses as a percentage of revenues were
22.2%, compared to 22.0% in the prior year period.
General and Administrative
Expenses. General and administrative expenses for the
reporting quarter amounted to RMB49.9
million ($7.3 million),
compared to RMB41.0 million in the
prior year period. Higher administrative expenses, staff costs, and
legal and professional fees all contributed to the increase in
general and administrative expenses. General and administrative
expenses as a percentage of revenues was 18.3%, compared to 17.5%
of the prior year period.
OTHER INCOME AND EXPENSES.
Change in Fair Value of
Equity Securities. In the first quarter, the Company
recognized an increase in fair value of equity securities, or
"mark-to-market gains", of RMB10.0
million ($1.5 million) while a
decrease in fair value of equity securities of RMB9.3 million was recorded in the prior year
period. Such changes were mainly attributable to the investments in
Cordlife Group Limited ("Cordlife").
NET INCOME ATTRIBUTABLE TO THE COMPANY'S
SHAREHOLDERS. As a result of the increase in operating
income and the increase in fair value of equity securities, income
before income tax for the first quarter increased by 42.1% YoY to
RMB129.4 million ($18.9 million). Income tax expense for the
reporting quarter was RMB19.5 million
($2.8 million). Net income
attributable to the Company's shareholders for the reporting
quarter increased by 47.3% YoY to RMB108.3
million ($15.8 million). Net
margin for the first quarter improved by 8 percentage points to
39.6%.
EARNINGS PER SHARE. Basic and diluted earnings per
ordinary share for the first quarter fiscal 2020 was RMB0.89 ($0.13).
Recent Developments
- On June 4, 2019, the board of
directors of the Company (the "Board") received a non-binding
proposal letter from Cordlife, a company listed on the Mainboard of
the Singapore Exchange Securities Trading Limited ("SGX"), pursuant
to which Cordlife proposes to combine the businesses of Cordlife
and the Company, by way of a statutory merger. According to the
letter, Cordlife would issue approximately 2,497.9 million ordinary
shares at an issue price of SGD0.5
per ordinary share in exchange for all of the outstanding ordinary
shares of the Company at $7.50 per
ordinary share. Upon completion of the proposed transaction, the
Company's ordinary shares will be delisted from the New York Stock
Exchange and the Cordlife ordinary shares will continue to trade on
SGX. On June 5, 2019, the Board
formed a special committee of independent directors (the "Special
Committee") who are not affiliated with Cordlife to evaluate such
proposal. The Special Committee intends to retain advisors,
including an independent financial advisor and U.S. and
Cayman Islands legal counsels, to
assist it in its work.
- The Company cautions its shareholders and others considering
trading its ordinary shares that no decisions have been made with
respect to the Company's response to the proposed transaction. The
proposed transaction is still subject to various conditions,
including but not limited to, completion of due diligence, parties
entering into definitive agreement, and/or each of Cordlife and the
Company obtaining its relevant regulatory and shareholders
approval. In addition, litigation has been filed in the
Cayman Islands challenging the
proposed transaction. There can be no assurance that any definitive
offer will be made, that any agreement will be executed or that
this or any other transaction will be approved or consummated.
[1] During the
three months ended June 30, 2019, 20,815 new subscribers were
recruited. The Company reclassified 389 private cord blood units as
donated cord blood units during the three months ended June 30,
2019 after the Company determined that the recoverability of these
prior private cord blood banking subscribers was remote. Therefore,
the Company terminated their subscription services according to the
subscription contracts and these units are 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 770,699 as of June 30, 2019.
|
[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 June 30,
2018 and 2019 included depreciation and amortization expenses
related to property, plant and equipment and intangible assets of
RMB13.1 million and RMB12.4 million ($1.8 million),
respectively.
|
Conference Call
The Company will host a conference call at 8:00 a.m. ET on
Wednesday, August 28, 2019 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 1-855-824-5644 or
1-646-722-4977 for US callers, or +852-3027-6500 for Hong Kong callers, access code: 62299537#.
Use of Non-GAAP Financial Measures
GAAP results for the three months ended June 30, 2019 include non-cash items related to
the 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 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 our 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: 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 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 industry developments
affecting issuers that have pursued a "reverse merger" with an
operating company based in China,
the presence of a new majority shareholder, international pressure
on trade and currency against the PRC and its potential impact on
the PRC consumer behavior, as well as general economic conditions;
the non-binding proposal letter from Cordlife 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 ending
June 30, 2019 were made at the noon
buying rate of RMB6.8650 to
$1.00 on June
28, 2019 in the City of New
York for cable transfers in Renminbi per U.S. dollar as
certified for customs purposes by the Federal Reserve Bank of
New York. Global Cord Blood
Corporation makes no representation that the Renminbi or U.S.
dollar amounts referred to in this press release could have been or
could be converted into U.S. dollars or Renminbi, at any particular
rate or at all.
EXHIBIT
1
|
GLOBAL CORD BLOOD
CORPORATION
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
As of March 31 and
June 30, 2019
|
|
|
March
31,
|
|
June
30,
|
|
2019
|
|
2019
|
|
RMB
|
|
RMB
|
|
US$
|
|
(in
thousands except
share data)
|
ASSETS
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
4,997,861
|
|
5,162,037
|
|
751,936
|
Accounts receivable,
less allowance for doubtful
|
|
|
|
|
|
accounts
(March 31, 2019:
RMB89,634;
|
|
|
|
|
|
June 30, 2019:
RMB96,587 (US$14,069))
|
96,923
|
|
96,294
|
|
14,027
|
Inventories
|
27,612
|
|
25,352
|
|
3,694
|
Prepaid expenses and
other receivables
|
25,532
|
|
21,615
|
|
3,149
|
Total current
assets
|
5,147,928
|
|
5,305,298
|
|
772,806
|
Property, plant and
equipment, net
|
545,340
|
|
540,986
|
|
78,803
|
Operating lease right-of-use
assets[4]
|
-
|
|
6,365
|
|
927
|
Non-current
deposits
|
236,719
|
|
242,556
|
|
35,332
|
Non-current accounts
receivable, less allowance
|
|
|
|
|
|
for doubtful
accounts (March 31, 2019: RMB74,800;
|
|
|
|
|
|
June 30, 2019:
RMB74,089 (US$10,792))
|
104,857
|
|
111,417
|
|
16,230
|
Inventories
|
77,194
|
|
78,529
|
|
11,439
|
Intangible assets,
net
|
97,444
|
|
96,289
|
|
14,026
|
Investment in equity
securities at fair value
|
107,362
|
|
120,443
|
|
17,545
|
Other equity
investment
|
189,129
|
|
189,129
|
|
27,550
|
Deferred tax
assets
|
44,981
|
|
47,473
|
|
6,915
|
Total
assets
|
6,550,954
|
|
6,738,485
|
|
981,573
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
Accounts
payable
|
33,566
|
|
28,522
|
|
4,155
|
Accrued expenses and
other payables
|
79,977
|
|
95,362
|
|
13,891
|
Operating lease
liabilities[4]
|
-
|
|
2,174
|
|
317
|
Deferred
revenue
|
461,986
|
|
444,402
|
|
64,734
|
Income tax
payable
|
20,113
|
|
23,728
|
|
3,456
|
Total current
liabilities
|
595,642
|
|
594,188
|
|
86,553
|
Non-current deferred
revenue
|
2,108,442
|
|
2,161,478
|
|
314,855
|
Non-current operating
lease liabilities[4]
|
-
|
|
3,491
|
|
509
|
Other non-current
liabilities
|
404,482
|
|
417,107
|
|
60,759
|
Deferred tax
liabilities
|
19,626
|
|
19,178
|
|
2,794
|
Total
liabilities
|
3,128,192
|
|
3,195,442
|
|
465,470
|
|
|
|
|
|
|
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 June 30, 2019, respectively
|
83
|
|
83
|
|
12
|
Additional paid-in
capital
|
2,101,582
|
|
2,101,582
|
|
306,129
|
Treasury stock, at
cost (March 31 and June 30,
|
|
|
|
|
|
2019: 136,899
shares, respectively)
|
(2,815)
|
|
(2,815)
|
|
(410)
|
Accumulated other
comprehensive losses
|
(88,738)
|
|
(78,385)
|
|
(11,418)
|
Retained
earnings
|
1,407,223
|
|
1,515,567
|
|
220,768
|
Total equity
attributable to Global Cord Blood
|
|
|
|
|
|
Corporation
|
3,417,335
|
|
3,536,032
|
|
515,081
|
Non-controlling
interests
|
5,427
|
|
7,011
|
|
1,022
|
Total
equity
|
3,422,762
|
|
3,543,043
|
|
516,103
|
Total liabilities
and equity
|
6,550,954
|
|
6,738,485
|
|
981,573
|
|
|
|
|
|
|
[4] During the
reporting quarter, the Company adopted Accounting Standards Update
Topic 842 using a modified retrospective transition
approach which resulted in the recognition of right-of-use assets
and lease liabilities for operating leases as of April 1, 2019
of
approximately RMB6.9 million ($1.0 million) and RMB5.8 million
($0.8 million), respectively.
|
EXHIBIT
2
|
GLOBAL CORD BLOOD
CORPORATION
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME
|
For the Three Months
ended June 30, 2018 and 2019
|
|
|
|
Three months ended
June 30,
|
|
|
2018
|
|
2019
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
(in thousands except per share data)
|
|
|
|
|
|
|
|
Revenues
|
|
233,821
|
|
273,375
|
|
39,822
|
Direct
costs
|
|
(43,158)
|
|
(45,749)
|
|
(6,664)
|
Gross
profit
|
|
190,663
|
|
227,626
|
|
33,158
|
Operating
expenses
|
|
|
|
|
|
|
Research and
development
|
|
(2,791)
|
|
(4,701)
|
|
(685)
|
Sales and
marketing
|
|
(51,415)
|
|
(60,637)
|
|
(8,833)
|
General and
administrative
|
|
(41,015)
|
|
(49,902)
|
|
(7,269)
|
Total operating
expenses
|
|
(95,221)
|
|
(115,240)
|
|
(16,787)
|
Operating
income
|
|
95,442
|
|
112,386
|
|
16,371
|
Other
(expenses)/income, net
|
|
|
|
|
|
|
Interest
income
|
|
5,698
|
|
6,220
|
|
906
|
Foreign currency
exchange losses
|
|
(26)
|
|
(28)
|
|
(4)
|
Change in fair value
of equity securities
|
|
(9,321)
|
|
9,979
|
|
1,454
|
Dividend
income
|
|
-
|
|
507
|
|
74
|
Others
|
|
(759)
|
|
340
|
|
50
|
Total other
(expenses)/income, net
|
|
(4,408)
|
|
17,018
|
|
2,480
|
Income before
income tax
|
|
91,034
|
|
129,404
|
|
18,851
|
Income tax
expense
|
|
(16,524)
|
|
(19,476)
|
|
(2,837)
|
Net
income
|
|
74,510
|
|
109,928
|
|
16,014
|
Net income
attributable to non-controlling interests
|
|
(968)
|
|
(1,584)
|
|
(231)
|
Net income
attributable to Global Cord
|
|
|
|
|
|
|
Blood
Corporation's shareholders
|
|
73,542
|
|
108,344
|
|
15,783
|
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
|
Attributable to
ordinary shares
|
|
|
|
|
|
|
-
Basic
|
|
0.61
|
|
0.89
|
|
0.13
|
-
Diluted
|
|
0.61
|
|
0.89
|
|
0.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income,
|
|
|
|
|
|
|
net
of nil income taxes
|
|
|
|
|
|
|
- Foreign
currency translation adjustments
|
|
22,880
|
|
10,353
|
|
1,508
|
|
|
|
|
|
|
|
Comprehensive
income
|
|
97,390
|
|
120,281
|
|
17,522
|
|
|
|
|
|
|
|
Comprehensive income
attributable to
|
|
|
|
|
|
|
non-controlling interests
|
|
(968)
|
|
(1,584)
|
|
(231)
|
Comprehensive
income attributable to
|
|
|
|
|
|
|
Global Cord Blood
Corporation's shareholders
|
|
96,422
|
|
118,697
|
|
17,291
|
EXHIBIT
3
|
GLOBAL CORD BLOOD
CORPORATION
|
RECONCILIATION OF
NON-GAAP OPERATING INCOME
|
For the Three Months
Ended June 30, 2018 and 2019
|
|
|
Three months ended
June 30,
|
|
2018
|
|
2019
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
GAAP amount of
operating income
|
95,442
|
|
112,386
|
|
16,371
|
|
|
|
|
|
|
Depreciation and
amortization expenses[5]
|
13,145
|
|
12,445
|
|
1,813
|
|
|
|
|
|
|
Non-GAAP operating
income
|
108,587
|
|
124,831
|
|
18,184
|
|
|
|
|
|
|
[5] Depreciation and amortization
expenses related to property, plant and equipment and intangible
assets respectively.
|
View original
content:http://www.prnewswire.com/news-releases/global-cord-blood-corporation-reports-financial-results-for-the-first-quarter-of-fiscal-2020-300907434.html
SOURCE Global Cord Blood Corporation