Global Cord Blood Corporation Provides Further Update on COVID-19
Global Cord Blood Corporation (CO)
US:NYSE Investor Relations:
ir.chinacordbloodcorp.com
Company Research
Source: PR Newswire
HONG KONG, April 27, 2020 /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 provided an update on the impact of the 2019 novel coronavirus ("COVID-19") on the Company's expected fiscal 2021 operations. Based on information available to date, management estimates that the Company's new subscriber number in fiscal 2021 will decrease to 60,000-65,000, a 19%-29% decrease from the Company's fiscal 2020 new subscriber target, which is 80,000-85,000.Under the anti-pandemic policies and measures taken by the Chinese government, the risk levels associated with major cities has decreased, and social and economic activities are gradually resuming. However, hospitals, which are the Company's key promotion and marketing channel, remain at the forefront in fighting this pandemic and remain under strict supervision and contr
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