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Last $6.69 USD
Change Today +0.09 / 1.36%
Volume 118.5K
CO On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 4:15 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

china cord blood corp (CO) Snapshot

Open
$6.58
Previous Close
$6.60
Day High
$6.69
Day Low
$6.55
52 Week High
08/17/15 - $7.69
52 Week Low
12/15/14 - $4.10
Market Cap
535.8M
Average Volume 10 Days
254.1K
EPS TTM
$0.20
Shares Outstanding
80.1M
EX-Date
--
P/E TM
33.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for CHINA CORD BLOOD CORP (CO)

china cord blood corp (CO) Related Businessweek News

No Related Businessweek News Found

china cord blood corp (CO) Details

China Cord Blood Corporation, together with its subsidiaries, primarily provides umbilical cord blood storage and ancillary services in the People’s Republic of China. The company provides cord blood testing, processing, and storage services under the direction of subscribers; and tests, processes, and stores donated cord blood, as well as offers matching services. As of March 31, 2015, it had three operating cord blood banks in the Beijing municipality, the Guangdong province, and the Zhejiang province. The company has a strategic collaboration with Cord Blood Registry to share data on cord blood collection, processing, and storage. China Cord Blood Corporation is based in Central, Hong Kong.

1,039 Employees
Last Reported Date: 07/31/15

china cord blood corp (CO) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $345.8K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $345.8K
Chief Executive Officer of Guangdong Division...
Total Annual Compensation: $259.6K
Chief Executive Officer of Beijing Division
Total Annual Compensation: $140.6K
Chief Technology Officer
Total Annual Compensation: $135.8K
Compensation as of Fiscal Year 2015.

china cord blood corp (CO) Key Developments

Nanjing Xinjiekou Likely To Win Bid For China Cord Blood

PR Newswire August 27, 2015 Thursday 8:00 AM EST Nanjing Xinjiekou Sees High Chance of Winning Cord Blood Bidding War in China DATELINE: SHANGHAI, Aug. 27, 2015 The bidding war for China Cord Blood Corporation between two A-share-listed rivals is almost set to come to an end: it seems Nanjing Xinjiekou Department Store Co., Ltd ("Nanjing Xinjiekou", 600682.SH) is having increasing odds to win the bid on China Cord Blood Corporation ("CO", NYSE: CO) among a number of candidates. On August 26, five listed companies involved in the bid filed announcements respectively, together giving a clear picture of the takeover fight which is heading into the homestretch. Before this, two listed-companies, namely Nanjing Xinjiekou (600682.SH) and Zhongyuan Union Cell & Gene Engineering Corp., Ltd ("Zhongyuan", 600645.SH) both announced that they were in negotiations to acquire CO's assets or equity interest. While Nanjing Xinjiekou intended to take over CO's entire assets and all businesses in Mainland China, Zhongyuan only planned to acquire a minority equity interest of CO. CO, a U.S.-listed company that was incorporated in the Cayman Islands, primarily engage in the storage business of umbilical cord blood stem cells. It is the largest umbilical cord blood banking operator in China and the only cord blood banking operator with licenses in various Chinese cities including Beijing, Guangdong and Shandong. Nanjing Xinjiekou's announcement in line with message from CO's major shareholder On August 26, Nanjing Xinjiekou published an announcement which said that it was in talks with CO's major shareholder Golden Meditech (801.HK) about the acquisition of CO's assets and equity interests. On the same day, Golden Meditech published an announcement, saying that it "has the right" to make final decision in the deal. Apparently, this good news has fueled Nanjing Xinjiekou, the direct counterparty with Golden Meditech. According to Golden Meditech's announcement, its actual controller Mr. Kam had completed the purchase of CO's US$65,000,000 senior unsecured convertible notes from a KKR fund. The announcement also stated that Golden Meditech proposed an extraordinary general meeting to vote on Mr. Kam's proposal to transfer these convertible notes to Golden Meditech. On the same day, CO also published a filing to confirm the abovementioned convertible note transaction has been completed. Golden Meditech is the largest shareholder of CO, holding 38.31% of its outstanding shares. Assuming these convertible notes had been fully converted into ordinary shares, Golden Meditech and its actual controller Mr. Kam's position in CO would surge significantly to 51.7%. This number would further increase to 59.5% if shares from parties acting in concert with them, for example the management, were included in the calculation. According to the Cayman Islands' regulations, shareholders with more than 51% holdings in a company are entitled to dispose its assets. In other word, Golden Meditech and its actual controller have in fact already obtained the disposition right on CO's assets. On August 26, an announcement issued by Nanjing Xinjiekou said, "On August 11, the Company received the letter of response from the special committee of CO's board. In response to this, the Company has addressed every question and item it raised and engaged a financial advisor. The Company has communicated with the special committee on the acquisition issues, and has negotiated with CO's major shareholder Golden Meditech on the purchase matter after the special committee's introduction." In other words, Golden Meditech is deemed as the counterparty of Nanjing Xinjiekou. Previously, Nanjing Xinjiekou made an announcement to claim that it planned to take over all CO's assets and equity interests in relations with cord blood banking business in China, including all equity interests in related onshore companies, all assets CO required to operate cord blood banking business in China, and relevant business interests and business resources ("CO PRC Assets") for a consideration of at least RMB6 billion. This announcement indicated that the negotiation between the two parties had achieved genuine progress. Golden Meditech's attitude is particularly vital for Nanjing Xinjiekou to win the deal. As long as it gives the green light, Nanjing Xinjiekou will clear all legal impediments in the process of acquiring CO PRC Assets. An announcement published by Golden Meditech on May 8 said that it has entered into an agreement with Cordlife to acquire CO's US$25 million senior unsecured convertible notes as well as a 9.13% stake in CO. This transaction was subject to the approval from Cordlife's general meeting. If it was rejected, assuming all convertible notes had been converted into ordinary shares, Golden Meditech and its controlling shareholder's diluted interest in CO would remain over 51% and their deposition right on CO's assets would still be valid. The Singaporeans Says No to Zhongyuan Previously, Zhongyuan claimed that it would "combat against" Nanjing Xinjiekou's bid by offering high prices to acquire part of CO's stake from Singapore-listed Cordlife. Zhongyuan announced on August 6 that it intended to take over the equity interest and convertible notes of CO from Cordlife through a limited partnership named Jiaxing Huiling No.3 Investment. Zhongyuan did not given up. According to its announcement on August 25, a general meeting will be held on August 28 to vote on raising an overseas buyout fund. On August 26, a "regular" announcement was released by Zhongyuan, saying generally that all related works were still in progress. Being the key party in the takeover fight, the Singaporean company Cordlife had never confirmed its opinion, which raised a lot of speculations in the capital market. But on August 26, the Singaporean company issued an announcement in English which clearly clarified that the board of Cordlife strongly suggested that the shareholders should vote for the proposed transaction between the company and Golden Meditech other than that with Zhongyuan's. It said that the associated legal, transactional and reputation risks to accept the offer amendment would offset all the economic benefits. This suggests that Zhongyuan was unlikely to win the deal despite a better offer. A source close to the deal told China Business News that if Golden Meditech agrees to sell CO's China assets to Nanjing Xinjiekou, CO, whose major business is in China, will become a "shell company." In this case, there is no point for Zhongyuan or Golden Meditech to chase CO's shares and convertible bonds held by Cordlife. Commenting on Zhongyuan's general meeting on August 28, this person said there could be three possible intentions for Zhongyuan to set up an offshore M&A fund: Possible intention No. 1: Zhongyuan eyes on the cord blood banking business and assets. However, the abovementioned analysis indicated that to win the CO's Chinese business over Nanjing Xinjiekou is unlikely. Possible intention No. 2: Taking CO private through hostile acquisition. However, the circular issued by Cordlife on August 26 made it clear that it would ignore Zhongyuan's offer and urged its own shareholders to support the agreement it made with Golden Meditech previously. From here we could imply that Golden Meditech must be a very strong candidate to acquire CO's share and convertible bonds from C ordlife. Provided that Zhongyuan was able to collect the remaining 30% shares from the market, it would have no chance to privatize CO in which a hostile party owns 70% shares.

China Cord Blood Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2015

China Cord Blood Corporation reported unaudited consolidated earnings results for the first quarter ended June 30, 2015. For the quarter, the company reported revenues of RMB 165.363 million compared to RMB 153.331 million a year ago. Operating income was RMB 48.427 million compared to RMB 60.167 million a year ago. Income before income tax was RMB 28.482 million compared to RMB 41.531 million a year ago. Net income was RMB 13.493 million compared to RMB 29.594 million a year ago. Net income attributable to the company’s shareholders was RMB 13.551 million compared to RMB 29.736 million a year ago. Basic and diluted earnings per share was RMB 0.19 compared to RMB 0.37 a year ago. Non-GAAP operating income was RMB 74.848 million compared to RMB 71.574 million a year ago. Net cash provided by operating activities for the first quarter of fiscal 2016 was RMB 130.1 million compared to RMB 21.0 million a year ago.

China Cord Blood Corporation to Report Q1, 2016 Results on Aug 19, 2015

China Cord Blood Corporation announced that they will report Q1, 2016 results After-Market on Aug 19, 2015

 

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Price/Earnings 35.1x
Price/Sales 4.6x
Price/Book 1.9x
Price/Cash Flow 36.0x
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