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Global Cord Blood (CO)

Participants
Cathy Bai VP of Corporate Finance
Albert Chen Chief Financial Officer
Call transcript
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Operator

Ladies and gentlemen, welcome everyone to Global Cord Blood Corporation Earnings Conference Call for the Fiscal 2022 First Quarter. [Operator Instructions] Now I would like to introduce Madam Cathy Bai, VP of Corporation Finance to begin the presentation. Madam, please go ahead.

Cathy Bai

Thank you, Greg. Good morning, everyone. XXXX earnings fiscal call. our to first conference quarter Welcome has our published on A discussing results our already website. available press release is financial been copy and company's a

and management session question-and-answer follow. summarize call, quarter. will team the for the our corporate During developments financial highlights A will

filings for risks. that our and time, remarks, of these begin, detailed potential we SEC actual to CFO, be we different from statements Chen. will results statements. that to Kindly certain our will quarter contain followed today's could report Mr. of discussions the interest our Before first of subject discussion In a given risks forward-looking XXXX refer begin CEO's our note forward-looking by Albert please financials with fiscal are and by uncertainties materially

to ask X could her will to various have our answer during and prepared the understand behalf will on everyone we'd questions to remarks. CEO, you a questions, management appreciate We Tina, of be read ask a questions I Q&A investors question session. Our at chance time. shareholders Today, give ask. To available if

Let's begin morning, everyone, quarter fiscal and Good XXXX earnings our call. to our conference welcome presentation. first

our group management's by expectations. recruit in At the result with managed subscriber quarter, new of subscribers, year, had XX,XXX accumulated and XXXX, up base previous the During reporting the relatively the quarter-over-quarter, X.X% XX.X% line in the a as surpassed base year-over-year to of low up XXX,XXX. June by end

measures gradually of among has COVID-XX effective a alleviated. As impact result Chinese the implemented in the control China, of consumers

maintain we cautious developments yet a numbers as access overall about licensing impact policies on to the industry-wide and to biosecurity localized environment resume. business admissions hospital cord China concerned about to have outbreaks Despite has economic pandemic trigger pay the clients laws, compared strict hospitals downward regime newborn policies our management been this the continues potential general close decreased. to our the lockdowns As occasional less team and banking to Certain such continue on blood in childbirth, potential about to activities related new became business subside, prepandemic trend. still and remain remain Overall, concerns gradually progress, as for implications. attention

not on We policy from implementation rule the further possibility that will out time be government announced time. details will to

With company create any high childbearing As competitive notable in of expected in the XX,XXX. of new the children supportive cost determined raising of child. Despite cost is shift numbers to recently has is a to to announcements and vigilant child the range industry XX,XXX the such, prepared team management the July in Meanwhile, reduce to and target respond the subscriber government top newborn X measures raise persistence our the policies the boost XXXX target fertility due that stimulus to will operating be mind, in in and our In XX to The by will worth to published impact on the yet of markets. the light plan decision of XXXX. has to monitor this, remain of and policy landscape. future we follow. increased rate discusses of fiscal lack it our and women to age remain this closely mentioning this,

to communicates market relevant with a actively evaluate As the team scenarios. regulatory agencies result and alternative of management continuing regulation uncertainties, while

expand to business pursue on our and efforts our offshore and on channels carry sales marketing and opportunities. will We development both

first your growth Blood Global our foster you We fiscal This sources new improve to Cord enhance of results. the concludes to ongoing overall and business customer Thank regarding my execute viscosity, our quarter will group's for upon capacity. goals Corporation. risk XXXX income and continue resistance support remarks

first CFO, Mr. quarter Mr. will call I Chen, the go discuss please to our our financial turn Chen, performance. will over Now Albert ahead. who

Albert Chen

everyone. approximately first the revenues. mainly year-over-year XXX quarter, morning, increased revenues driven for million, joining by to Thank XX% fee In in Good RMB processing today. call by our you the increase

over XX% low the comparable representing During to year, year-over-year as new an group the the measures the of increase containment relatively coupled of gradually to XX,XXX improved recruited due base quarter effect. COVID-XX subscribers, first with various take consumer reporting sentiment quarter, last in started

of occasional by XXX income RMB million. XX receivable due in marketing XX% prior By while but RMB Operating improved from slightly. million, clusters. by as increased other Sales last only carefully a decrease of approximately increased by which SG&A point to increase General over or percentage XX%. XX XX% As quarter. by XX%. because operating In the were XX% as And of approximately equity XXX spending. of decreased accounted X% administrative to million, a mark-to-market COVID-XX localized XX million. overhead and year the fair year-over-year General compared recovery RMB sales to expenses amortization to by securities to XXX period. the for total the quarter XXX we in to approximately margin reporting account XX% quarter, by processing first to marketing expenses RMB various gains XXX million RMB year-over-year XX% we marketing expenses and Gross dividend also an storage Depreciation quarter increased for gross services of sales million, no and XX% million administrative X% the X.X million. RMB the result, revenue in profit increases expenses to due offset in provisions expenses to generated XXXX, year. for an increased year-over-year for in professional incentives Sales approximately In quarter quarter, million. first fee recorded from approximately XX in partially year and year-over-year value by income revenues base and in to the to decreased from expanded June in fees XX% as first from year was quarter increased our the increased million last recognized compared to XX gains RMB and redeploy increased the operating year-over-year XXX,XXX. approximately reporting RMB by in X% expenses last year-over-year margin from to million. such margin accumulated points and by to first Non-GAAP year approximately improved And the approximately mainly income in non-GAAP basis the revenues. RMB we to a period. And percentage equity phase over to prior approximately increased operating mark-to-market income in to RMB mainly year-over-year X percentage during resources revenues lockdowns RMB and quarter by sentiment the period XX% end investments revenues due first of increase to XX% subscriber fees XX% facing Accordingly, reporting improved X in consumer

to per first reporting Basic to quarter in in result X% RMB dividend increased by RMB approximately mark-to-market the year-over-year RMB Income of are increased results. the our income, X% gains. and first shareholders XXX X.XX. a to tax earnings As quarter operating before by for quarter increased of the income increases Net diluted and million. by highlights share the income These the ordinary decrease income financial partially company's attributable year-over-year for offset XXX by the X% million. to

the turn to happy are for floor any questions. We

Operator

[Bill from have one And Instructions] question [Operator we Mr. Jones].

Unidentified Analyst

a subscribers? of was of Can what services? Also, you provide breakdown breakdown the your your new payment respective

Albert Chen

questions. the for you Thank

the Approximately In province. are terms of of XX% new derived Guangdong subscribers from came like rest approximately Beijing new subscriber geographical new our the X/X, from regions, the derived municipality the province, subscribers breakdown from and by XX% Zhejiang of area. our

XX of upfront approximately new balance payment payment option the are options, terms elected the electing from years. years installment approximately X option XX% new of elected which In and the subscribers payment breakdown, people subscribers the normal option, varies payment XX% our remaining to

Operator

from Instructions] Capital]. [Sam We new question from have Mars [Operator John a

Unidentified Analyst

What would about how acquisitions do to think your excess you cash returning for options? cash shareholders? or that you X have those balance And you either is available say

Albert Chen

now or on revenue. half in to company of withstand pay in which is which well projects. hand, changes results as to to billion half electing to aware, option, The people on the you capital -- as and cord deferred RMB payment the ability the as any result take of of blood additional diversification are of in a relatively the excess is the right potentially potential banking are strong Fair which our China close potential as in financial position to regulatory that say X in or acquisitions upfront industry

taking environment. how the that the probably best on are you lately, put is reducing which a reliance are heard there many approach more in prudent various aware, trust changes company are out into behave, is this in consumers of that way the PRC, as I regulations consideration that of children mobile I it. from from the regulatory authorities But you relatively and birth aware So taking many also maybe especially new games. the coming encouraging to on governs

as banking So as lately, the introduction of well well. our is the XX-F which law well highlighted we blood biosecurity in of as cord the one as the policy licensing latest policy

in now. So interesting as time we CEO are living mentioned very a right remarks, our in

blood from it is whole respect So industry time regulations that banking time. as more health to or to cord out may possible with come care a

it we all now speak. the regulations also prudent are right options into we play, take when So new of is better our options. to our as evaluating coming carefully more a approach evaluating I because guess

Operator

this It seems back to turn further is the Bai. that Madam At no point, Cathy there question. call [Operator will Instructions] I

Cathy Bai

first you you support. all great concludes This day. XXXX for a Thank now conference disconnect. may and you, the Greg. Thank participation call fiscal Greg, very quarter. Have for our much earnings ongoing your

Operator

this and you. Thank concludes Ladies gentlemen, today.

disconnect. now can You