Four elderly siblings were shot Tuesday, one fatally, by a relative in a rare instance of gun violence in Hong Kong that was apparently sparked by a family dispute, police said. Reported by Washington Post 5 hours ago.

There’s a rare moment of cheer for floundering electric car maker Faraday Future after it landed a new investor and a fresh commitment of capital. Evergrande Health, a division of Hong Kong-listed Evergrande, has taken a 45 percent stake in Faraday Future in a deal worth a total of $2 billion. Evergrande Health has taken over an […] Reported by TechCrunch 6 hours ago.

Reported by newKerala.com 4 hours ago.

In a round led by Thayer Ventures, Kinetic Ventures and NextGen Ventures Partners, the intelligent housekeeping platform will expand operations in the U.S.

AUSTIN, Texas (PRWEB) June 26, 2018

Optii Solutions, whose innovative housekeeping optimization platform helps hotels achieve efficiencies and cost savings while transforming the role of the housekeeper on property, announced today an approximate $4 million new round of funding led by Thayer Ventures, Kinetic Ventures and NextGen Venture Partners. HOF Capital and Select Venture Partners, which are existing investors, also participated in the round.

Optii Solutions plans to use the new capital to further expand its U.S. operations, expand sales and marketing activities, build out the company’s product portfolio, and expand customer support functions. Optii Solutions has grown rapidly over the past several years, finding success in hotels worldwide with its improved approach to optimizing housekeeping functions. The Optii platform is currently in place at more than 24,000 hotel rooms globally, with significant room for growth in the dense U.S. hotel market.

“We’re thrilled to partner with Optii Solutions at a pivotal time for the hospitality industry, particularly as they enhance their offerings with technology solutions,” said Jeff Jackson, Managing Director of Thayer Ventures. “Nothing is more on the mind of owners and brands than the future of the industry’s labor force, including housekeeping. Optii Solutions is revolutionizing how hotels manage their housekeeping operations, achieving efficiencies in operations and transforming the role of the housekeeper at the same time. We’re looking forward to further enhancing the company’s growth with financial, operational and business development support.”

Integrating seamlessly with hotels’ operational software programs, Optii Solutions enables hotels to optimize their housekeeping management, achieving measurable improvements while significantly reducing operational costs. Using a patented optimization engine, Optii is able to accurately create real-time workforce deployment schedules capable of reducing direct labor costs by eight to 18%.

“Optii Solutions provides intelligent housekeeping management technology that helps hotels around the world increase productivity, decrease labor costs and improve guest experiences,” says Ray Pawlikowski, Chief Executive Officer of Optii Solutions. “We’re eager to begin helping even more hotels across the nation revolutionize their housekeeping operations with this new round of funding and support from our partners.”

About Optii Solutions
Optii Solutions provides cloud-based software for hotels focused exclusively on automating and optimizing hospitality housekeeping and maintenance functions for realized efficiency. Optii Solutions increases staff productivity by 10-20%, reduces staff turnover by 40%, and produces a 80% reduction in queues. Clients include some of the largest hospitality brands, including Las Vegas Sands, Galaxy Entertainment Group, Intercontinental Hotel Group, and Sodexo. Headquartered in Austin, TX, USA, Optii Solutions has offices in Australia, Hong Kong and Europe. Learn more at http://www.optiisolutions.com.

About Thayer Ventures
Based in San Francisco, Thayer Ventures (Thayer) invests in early-stage technology companies that focus on the travel, hospitality and transportation industries. Thayer’s objective is to provide portfolio companies with unequaled counsel, strategic insights and industry connections that drive significant revenue and enable sustainable growth.

About Kinetic Ventures
Kinetic Ventures is a leading venture capital investor in high growth, industry defining companies. For over three decades, they have partnered with outstanding entrepreneurs to build world-class enterprises.

About NextGen Venture Partners
NextGen Venture Partners is an early stage venture capital firm, featuring the most extensive, connected network of venture partners in the industry. NextGen powers founders through a wide network of founders and innovation executives, which brings unprecedented depth and breadth of expertise and connections. Reported by PRWeb 6 hours ago.

Hong Kong leader Carrie Lam Cheng Yuet-ngor on Tuesday had her first formal meeting with Chinese Vice-premier Han Zheng since the state leader was appointed to take charge of the city’s affairs. The event appeared to be hastily arranged as Lam made a surprise detour through Beijing on her way back to Hong Kong from a visit to Europe, with the stop in the capital previously unannounced. It was also Han’s first meeting with Lam since he was promoted to vice-premier in March, a... Reported by S.China Morning Post 6 hours ago.

Hong Kong is the world's most expensive city to live in for expatriate employees, a study has revealed, followed by Tokyo, Zurich, Singapore and Seoul. Reported by MailOnline 5 hours ago.

Reported by newKerala.com 4 hours ago.

Four of the five most expensive cities in the world for expatriates are in Asia, according to a cost of living study. Reported by euronews 3 hours ago.

*In accordance with the rules on financial transparency*, Blackrock has notified Ageas on 21 June 2018 that, on 20 June 2018, its shareholding stands at 5.19%.*

Reason for the notification
Acquisition or disposal of voting securities or voting rights

Notification by
A parent undertaking or a controlling person

Persons subject to the notification requirement

BlackRock, Inc.  55 East 52nd Street, New York, NY, 10055, U.S.A.
BlackRock (Netherlands) B.V. Rembrandt Tower, 17th floor, Amstelplein, Amsterdam, Netherlands
BlackRock (Singapore) Limited 20 Anson Road #18-01, Singapore, 79912, Singapore
BlackRock Advisors (UK) Limited 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
BlackRock Advisors, LLC 100 Bellevue Parkway, Wilmington, DE, 19809, U.S.A.
BlackRock Asset Management Canada Limited 161 Bay Street, Suite 2500, Toronto, Ontario, M5J 2S1, Canada
BlackRock Asset Management Deutschland AG Max-Joseph-Straße 6, Munich, 80333, Germany
BlackRock Asset Management North Asia Limited 15/F, 16/F, 17/F Citibank Tower & 17/F ICBC Tower, 3 Garden Road, Central, Hong Kong
BlackRock Financial Management, Inc. 55 East 52nd Street, New York, NY, 10055, U.S.A.
BlackRock Fund Advisors 400 Howard Street, San Francisco, CA, 94105, U.S.A.
BlackRock Institutional Trust Company, National Association 400 Howard Street, San Francisco, CA, 94105, U.S.A.
BlackRock International Limited Exchange Place One, 1 Semple Street, Edinburgh, EH3 8BL, U.K.
BlackRock Investment Management (Australia) Limited Level 37, Chifley Tower, 2 Chifley Square, Sydney NSW 2000 Australia
BlackRock Investment Management (UK) Limited 12 Throgmorton Avenue, London, EC2N 2DL, U.K.
BlackRock Investment Management, LLC 1 University Square Drive, Princeton, NJ, 8540, U.S.A.
BlackRock Japan Co., Ltd. 1-8-3 Marunouchi Chiyoda-ku, Trust Tower Main, Tokyo, 100-8217, Japan

Date on which the threshold is crossed
20 June 2018

Threshold that is crossed (in %)
5 %

Denominator
203,022,199
  
Additional information
The disclosure obligation arose due to voting rights attached to shares for BlackRock, Inc going below 5%.

This press release and the notifications received by Ageas are available on the website.

*Ageas* is a listed international insurance Group with a heritage spanning 190 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Luxembourg, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 50,000 people and reported annual inflows close to EUR 34 billion in 2017 (all figures at 100%).

*Attachment*

· Read the full press release.pdf Reported by GlobeNewswire 5 hours ago.

WITH the race for the Hong Kong jockeys’ title reaching its closing stages, the pendulum has surprisingly swung in favour of Zac Purton.

There are just six race meetings left in the season and Aussie-born Purton leads his great rival and reigning champion Joao Moreira by five.

That means the Brazilian will really need to live up to his reputation as ‘The Magic Man’ if he is to regain his title.

Since Moreira returned from suspension a couple of weeks ago, both jockeys have been going hammer and tongs booting home winners.

It’s an astonishing statistic in the ultra-competitive HK environment that both jockeys combined have ridden 14 winners in the last 28 races at Happy Valley and Sha Tin.

Both Purton and Moreira are in action when racing returns to Happy Valley this afternoon and you can be sure the pair of them will be disappointed if they don’t leave the track with at least a couple of winners each.

It’s worth pointing out that racing takes place on the notoriously difficult ‘C’ track, where the width of the home stretch is just over the size of a cricket pitch.

It’s a course which favours front runners and is difficult for horses weaving a passage from off the pace.

Purton will be hoping top-weight *DOCTOR GEOFF* can get him into the winners’ circle in the feature race, the Class 2 £180,000 1m1f handicap at 2.15pm.

This diminutive gelding weighs just 966lbs and, formerly trained by Ger Lyons in Ireland, has been knocking at the door all season, including a creditable sixth after a tough run in the HK Derby.

Don’t worry about him having never raced around the tight bends of the Valley, he trialled impressively at the track in April and is ideally drawn for a dream journey.

Lurking in the shadows is the Moreira-ridden and once-raced Insayshable, another Lyon’s import, who had his career curtailed after suffering a leg problem when finishing third behind Singapore Sling over the extended mile back in December.

The winner subsequently chased home Ping Hai Star in the HK Derby and has officially risen 18lbs in the ratings since that initial Valley win.

Three progressive trials in the last couple of months suggest Insayshable won’t be far off his peak and he must rate the principle threat.

*POINTERS*

*Doctor Geoff* 2.15pm Happy Valley Reported by City A.M. 4 hours ago.

iMate is a charger, battery backup, and portable docking system in one

HONG KONG (PRWEB) June 26, 2018

Today, Grenoplus launched iMate, a charger, battery backup, and portable docking system in one that charges and syncs up to six Apple devices at a time. It starts at the early bird price of $99 USD on Indiegogo ($199 USD+up retail).

iMate is an all-in-one solution that eliminates the need for a bag full of chargers, adapters, and dongles. It’s designed to be ultra-compact, easy to use and portable, and is compatible with all Mac products, including all series of MacBook, MacBook Pro, iPhone, iPad and even the Apple Watch.

Currently, Macbook Pros do not have USB, SD card, and HDMI ports and there are no docking stations available for Mac products.

“We wanted to solve these annoying issues and create a device to that would allow users to quickly charge and sync all Apple devices simultaneously,” said Chief Executive Officer HS Chan. “iMate is really a Mac user’s best friend. Our docking station is stylish, versatile, and is a much needed tool for thousands of people worldwide.”

iMate comes equipped with two USB-C PD fast charge ports, with 10Gb/s of data speed. It has a USB 3.0 with 5Gb data speed, USB 2.0 with 480Mb/s data speed, and SD card port with 104Mb/s data speed. It transfers data to multiple devices quickly and conveniently.

The device also includes HDMI 4K ultra display technology, which means users can connect a MacBook to TV through an HDMI port to view shows and movies in high-quality quality and color.

“iMate is perfect for use at home, at the airport, at the office, or on the go. It’s a fantastic travelling companion, tool for work, or a way to enhance personal use of technology” said Chief Technology Officer Stone Cheng. “Best of all, it’s easy to use. Just plug in, charge, and relax while the device takes care of all your Apple devices.”

iMate is available today on Indiegogo with an estimated delivery date of September 2018. For a full rundown of pledges, visit the Indiegogo page. Media wishing to interview their personnel should contact PR agent, Jackson Wightman at +1 (514) 605-9255. Reported by PRWeb 4 hours ago.

Matthew Polly's biography of the martial-arts expert, whose movies "Fist of Fury,""Way of the Dragon" and "Enter the Dragon" were international hits, is thorough, balanced and myth-busting. Reported by Seattle Times 2 hours ago.

Faraday Future, the Los Angeles electric car company that hopes to rival Tesla Inc., has confirmed a $2 billion round of equity funding. The money will come in three tranches from Evergrande Health, a Hong Kong-listed investment holding company, through its acquisition of Season Smart Limited, which had invested an initial $800 million. Evergrande is taking over that investment for $860 million and has committed two additional installments of $600 million each in 2019 and 2020. With the investment,… Reported by bizjournals 3 hours ago.

The Leisure and Cultural Services Department said it wants children to be able to read the books only under parental supervision. Reported by Washington Post 2 hours ago.

SEATTLE, June 26, 2018 (GLOBE NEWSWIRE) -- Impinj, Inc. (NASDAQ:PI), a leading provider and pioneer of RAIN RFID solutions, today announced that Daniel Gibson, chief investment officer of Sylebra Capital Management, has joined its board of directors.“We are excited to welcome Dan to our board of directors. Impinj is committed to having an independent board with the skills necessary to help us realize our potential,” said Impinj Chair Peter van Oppen. “Dan’s experience investing in disruptive technology companies and his understanding of global markets will be valuable as we seek to connect trillions of everyday items to the internet,” said Impinj CEO Chris Diorio.

Founded by Gibson in 2011, Sylebra is a private investment management firm based in Hong Kong that focuses on technology, media, and telecom companies globally with a specialization in public small- and mid-cap companies. It is a significant stockholder of Impinj.

Prior to founding Sylebra, Gibson was a partner at Coatue Management, an investment management firm in New York. He has also held positions at Calera Capital, a multi-billion-dollar private equity fund, and UBS Investment Bank.  He holds a bachelor’s degree in economics from Amherst College.

**About Impinj
**Impinj (NASDAQ:PI) wirelessly connects billions of everyday items such as apparel, medical supplies, and automobile parts to consumer and business applications such as inventory management, patient safety, and asset tracking. The Impinj platform uses RAIN RFID to deliver timely information about these items to the digital world, thereby enabling the Internet of Things. www.impinj.com  

Impinj is a registered trademark of Impinj, Inc. All other trademarks are the property of their owners.

**For more information, contact:
**Gaylene Meyer
Sr. Director Global Marketing & Communications
Phone: +1 206-812-9816
gmeyer@impinj.com
www.impinj.com Reported by GlobeNewswire 37 minutes ago.

- Added 21,390 New Subscribers in 4Q18
- 4Q18 Revenues Amounted to RMB233.0 Million ($37.1 Million)
- 4Q18 Operating Income Amounted to RMB42.2 Million ($6.7 Million)
- 4Q18 Non-GAAP Operating Income Amounted to RMB102.9 Million ($16.4 Million)
- Board Declared Dividend of $0.08 per ordinary share
- Conference Call to be Held on June 27, 2018 at 8:00 a.m. ET

HONG KONG, June 27, 2018 /PRNewswire/ -- Global Cord Blood Corporation (NYSE: CO) ("GCBC" or the "Company"), a leading cord blood bank operator in China, today announced its unaudited financial results for the fourth quarter and full year of fiscal year 2018 ended March 31, 2018.

*Fourth **Q**uarter of Fiscal 2018 Highlights*

· Fourth quarter revenues increased by 15.3% year over year ("YoY") to RMB233.0 million ($37.1 million).
· New subscribers were 21,390, and the accumulated subscriber base expanded to 661,618^1.
· Gross profit increased by 17.3% YoY to RMB188.8 million ($30.1 million). Gross margin improved to 81.0% from 79.7% in the prior year period.
· Operating income dropped by 25.1% YoY to RMB42.2 million ($6.7 million) because of higher SG&A expenses due to the vesting of all outstanding restricted share units ("RSUs"). As a result, there will be no share-based compensation expense to amortize going forward relating to those RSUs.
· Operating income before depreciation and amortization and share-based compensation expenses^2 ("non-GAAP operating income") increased by 21.5% YoY to RMB102.9 million ($16.4 million).
· Net income attributable to the Company's shareholders was RMB30.5 million ($4.9 million) compared to RMB37.9 million of prior year period.
· Net cash provided by operating activities amounted to RMB194.4 million ($31.0 million).
· The Board of Directors (the "Board") declared a dividend of $0.08 per ordinary share in cash or scrip.

*Full Year of Fiscal 2018 Highlights*

· Revenues increased by 23.3% YoY to RMB936.8 million ($149.3 million).
· New subscriber sign-ups reached a record high of 91,789.
· Gross profit increased by 22.3% YoY to RMB755.3 million ($120.4 million).
· Operating income and non-GAAP operating income^2 grew at a slower pace to RMB279.9 million ($44.6 million) and RMB414.7 million ($66.1 million), respectively, resulting from two one-time items recorded in fiscal 2017 (other operating income of RMB26.3 million and cost reduction of RMB16.8 million).
· Due to the decline in interest expense in fiscal 2018, net income attributable to the Company's shareholders increased to RMB237.1 million ($37.8 million) from RMB126.2 million in the prior year.
· Net cash provided by operating activities increased by 28.4% YoY to RMB818.8 million ($130.5 million).

"We broke new ground again in fiscal 2018 by recruiting more than ninety-one thousand new subscribers, which pushed our aggregate subscriber base to exceed 661,000. This would not have been possible without our team's tireless efforts and devotion," said Ms. Ting Zheng, Chairperson and CEO of GCBC. "We expect our volume contribution from Guangdong and Zhejiang to continue to grow while the Beijing market remains soft, and we plan to further propel growth by adopting different marketing strategies tailored to the needs of each individual market. With our established marketing network and experienced consultants, we are well positioned to capitalize on our dominant market position in order to obtain deeper penetration."

"As always, the Board is of the view that a sustainable and predictable capital deployment policy will best serve our company and shareholders. After giving thoughtful consideration and taking into account our near-term and long-term strategic goals, the Board is delighted to have declared a dividend of US$0.08 per share, payable in cash or ordinary shares, at the election of our stockholders."

*Summary – Fourth **Q**uarter and Full **Y**ear Ended March 31, 2017 and 2018*


*Three Months Ended March 31,*


*Year** Ended March 31,*


*2017*


*2018*


*2017*


*2018*



*(In thousands)*


*RMB*


*RMB*


*US$*


*RMB*


*RMB*


*US$*



Revenues


201,998


232,981


37,142


759,978


936,768


149,343



Gross Profit


160,979


188,750


30,091


617,338


755,285


120,410



Other Operating Income


-


-


-


26,316


-


-



Operating Income^3


56,316


42,194


6,727


264,865


279,863


44,618



Interest Expense


(30,190)


-


-


(119,418)


(3,257)


(519)



Net Income Attributable to















the Company's















Shareholders


37,940


30,514


4,864


126,190


237,098


37,799



Earnings per Ordinary Share















– Basic (RMB/US$)


0.45


0.27


0.04


1.59


2.10


0.33



– Diluted (RMB/US$)


0.45


0.25


0.04


1.59


1.99


0.32















Revenues Breakdown (%)















Processing Fees and















  Other Services


64.4%


63.2%




63.4%


65.3%





Storage Fees


35.6%


36.8%




36.6%


34.7%

















New Subscribers (persons)


20,566


21,390




74,952


91,789





Total Accumulated Subscribers















  (persons)


575,040


661,618^1




575,040


661,618^1



 

 

*Summary – Selected Cash Flow Statement Items*


*Three Months Ended March 31,*


*Year** Ended March 31,*


*2017*


*2018*


*2017*


*2018*



*(In thousands)*


*RMB*


*RMB*


*US$*


*RMB*


*RMB*


*US$*



Net cash provided by
   operating activities


200,537


194,350


30,983


637,632


818,762


130,528



Net cash used in
  investing activities


(5,979)


(19,118)


(3,048)


(90,575)


(66,477)


(10,598)



Net cash used in
  financing activities


-


-


-


(60,000)


(2,015)


(321)

 

*Fourth Quarter of Fiscal 2018 Financial Results*

*REVENUES.* Revenues in the fourth quarter of fiscal 2018 increased to RMB233.0 million ($37.1 million), up 15.3% YoY. The growth was mainly driven by the expansion of the subscriber base.

The Company's accumulated subscriber base reached 661,618^1 by the end of March 2018, and revenues generated from storage fees increased by 19.5% YoY to RMB85.8 million ($13.7 million). Storage fees accounted for 36.8% of the total revenues, up from 35.6% in the prior year period.

During the reporting quarter, we recorded 21,390 new subscriber sign-ups. Revenues generated from processing fees and other services in the fourth quarter increased to RMB147.2 million ($23.4 million) from RMB130.2 million in the prior year period. As a percentage of revenues, revenues generated from processing fees accounted for 63.2% compared to 64.4% in the prior year period.

*GROSS PROFIT.* Gross profit for the fourth quarter of fiscal 2018 increased by 17.3% YoY to RMB188.8 million ($30.1 million). The increase in storage fees as a percentage of revenue, together with economies of scale, increased gross margin from 79.7% in the prior year period to 81.0% in the reporting quarter.

*OPERATING INCOME and NON-GAAP OPEARTING INCOME^2.* Fourth quarter operating income declined by 25.1% YoY to RMB42.2 million ($6.7 million), since all the outstanding RSUs were vested in the fourth quarter of fiscal 2018. Share-based compensation expense for the period amounted to RMB47.9 million ($7.6 million) compared to RMB15.7 million same quarter last year. Because all previously outstanding RSUs have been vested, there will be no amortization of share-based compensation going forward from these RSUs. Top line growth and margin expansion fueled fourth quarter non-GAAP operating income^2, which increased by 21.5% YoY to RMB102.9 million ($16.4 million). Non-GAAP operating margin expanded from 41.9% in the same period last year to 44.2% in the reporting quarter.

*Sales and Marketing Expenses.* Sales and marketing expenses for the fourth quarter was up 11.1% YoY to RMB59.7 million ($9.5 million) with the increase largely attributable to the increase in share-based compensation expense. In the absence of such expense, sales and marketing expenses increased modestly. As a percentage of revenues, sales and marketing expenses decreased to 25.6% from 26.6% in the prior year period.

*General and Administrative Expenses. *General and administrative expenses for the fourth quarter increased to RMB83.5 million ($13.3 million) from RMB47.8 million in the prior year period mainly due to the significant increase in share-based compensation expense as a result of the vesting of the Company's RSUs.

*NET INCOME ATTRIBUTABLE TO THE COMPANY'S SHAREHOLDERS.* The net effects from the absence of interest expense and increase in income tax expense^4 in the fourth quarter of fiscal 2018 partially mitigated the decrease in operating income. Therefore, net income attributable to the Company's shareholders for the reporting period was RMB30.5 million ($4.9 million) compared to RMB37.9 million in the prior year period. Net margin for the fourth quarter of fiscal 2018 was 13.1% compared to 18.8% in the prior year period.

*EARNINGS PER SHARE.* Basic earnings per ordinary share for the fourth quarter of fiscal 2018 were RMB0.27 ($0.04), the computation of which has taken into account the shares issued upon vesting of the RSUs and shares converted from convertible notes, compared to RMB0.45 in the prior year period. Diluted earnings per ordinary share for the fourth quarter of fiscal 2018 were RMB0.25 ($0.04) compared to RMB0.45 in the prior year period.

*DIVIDEND. *On June 26, 2018, the Board declared a dividend of $0.08 per ordinary share of the Company to be paid in cash or in scrip at the election of the shareholder. The dividend will be payable on August 20, 2018 (but no later than August 24, 2018), to shareholders of record as of July 30, 2018.

*LIQUIDITY. *As of March 31, 2018, the Company had cash and cash equivalents of RMB4,250.6 million ($677.6 million), up from RMB3,510.3 million as of March 31, 2017. Total current and non-current deferred revenues amounted to RMB2,240.4 million ($357.2 million) as of March 31, 2018. Net cash provided by operating activities for the fourth quarter of fiscal 2018 amounted to RMB194.4 million ($31.0 million).

*Full Year of Fiscal 2018 Financial Results*

For the full year of fiscal 2018, total revenues increased by 23.3% YoY to RMB936.8 million ($149.3 million). The increase was mainly attributable to the growth in processing fees and storage fees revenues contributed by the increase in new subscriber numbers of 91,789 for the reporting fiscal year and the enlarged subscriber base of 661,618^1 as of March 31, 2018. Revenues from processing fees and storage fees grew by 27.0% and 16.9%, respectively.

Gross profit increased by 22.3% YoY to RMB755.3 million ($120.4 million), in line with the growth in revenues.

Operating income and non-GAAP operating income^2 increased at a slower pace by 5.7% YoY to RMB279.9 million ($44.6 million) and 9.8% YoY to RMB414.7 million ($66.1 million), respectively, resulting from two one-time items recorded in fiscal 2017 (other operating income of RMB26.3 million and reduction of direct costs of RMB16.8 million), whereas no such items were recorded in fiscal 2018.

With a significant drop in interest expense, partially offset by increased income tax expense^4, net income attributable to the Company's shareholders increased to RMB237.1 million ($37.8 million) from RMB126.2 million in the prior year.

Basic and diluted earnings per share attributable to ordinary shares were RMB2.10 ($0.33) and RMB1.99 ($0.32), respectively, compared to RMB1.59 in the prior year.

Net cash provided by operating activities in the full year of fiscal 2018 increased by 28.4% YoY to RMB818.8 million ($130.5 million).

^1 During the three months and year ended March 31, 2018, 21,390 and 91,789 new subscribers were recruited, respectively. The Company reclassified 83 and 5,211 private cord blood units as donated cord blood units during the three months and year ended March 31, 2018 after the Company determined that the recoverability of these prior private cord blood banking subscribers was low. 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 661,618 as of March 31, 2018.
^2 See exhibit 3 of this press release for a reconciliation of operating income to exclude the non-cash items related to the depreciation and amortization and share-based compensation 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 and year ended March 31, 2017 and 2018 included the following:

(i)  Depreciation and amortization expenses for the three months ended March 31, 2017 and 2018 were RMB12.6 million and RMB12.8 million ($2.0 million). Depreciation and amortization expenses for the years ended March 31, 2017 and 2018 were RMB50.5 million and RMB50.6 million ($8.1 million); and

(ii)  As of March 31, 2017, a total of 7,300,000 RSUs were issued and outstanding under the company's RSU scheme. During the three months ended March 31, 2018, all of the 7,300,000 RSUs were fully vested, upon which no RSUs are still outstanding. All of the unrecognized share-based compensation expense was then recognized in the three months and year ended March 31, 2018. Share-based compensation expense related to this RSU scheme were RMB15.7 million and RMB47.9 million ($7.6 million) for the three months ended March 31, 2017 and 2018. Share-based compensation expense for the years ended March 31, 2017 and 2018 were RMB62.2 million and RMB84.3 million ($13.4 million).
^4 As disclosed in the earnings release of the fourth quarter of fiscal 2017, the Company recorded income tax benefit of RMB3.9 million in the fourth quarter of fiscal 2017 as a result of the reversal of provision for income tax of RMB18.2 million. Excluding the effect of such reversal, income tax expense was RMB14.3 million in the prior year period compared to RMB16.8 million ($2.7 million) in the reporting quarter.

*Conference Call*

The Company will host a conference call at 8:00 a.m. ET on Wednesday, June 27, 2018, 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.chinacordbloodcorp.com. A replay of the webcast will be accessible two hours after the conference call and available for three weeks at the same URL link 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: 54051699#.

*Use of Non-GAAP Financial Measures*

GAAP results for the three months and year ended March 31, 2018 include non-cash items related to the depreciation and amortization and share-based compensation 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.

*More Information Regarding Scrip Dividend*

We have established a Scrip Dividend Scheme which includes a description of the qualifications required to elect to receive our dividend in the form of ordinary shares, a discussion of relevant tax considerations, frequently asked questions (FAQs) and illustrative calculations regarding the scrip dividend. Stockholders should obtain a copy by visiting http://ir.globalcordbloodcorp.com/phoenix.zhtml?c=206671&p=irol-dividends.

*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 implementing 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; 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 periods ending March 31, 2018 were made at the noon buying rate of RMB6.2726 to $1.00 on March 30, 2018 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.

*For more information, please contact:*

Global Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@globalcordbloodcorp.com

ICR, Inc.
Mr. William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: William.zima@icrinc.com

*EXHIBIT 1*

*GLOBAL CORD BLOOD CORPORATION*

*UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS*

As of March 31, 2017 and 2018






*March 31,*


*March 31,*
*2017*


*2018*
*RMB*


*RMB*


*US$*
*(in thousands except share data)*







*ASSETS*









*Current assets*









Cash and cash equivalents



3,510,264


4,250,610


677,646

Accounts receivable, less allowance for
doubtful accounts (March 31, 2017:









  RMB46,858; March 31, 2018: RMB58,227









  (US$9,283))



112,533


107,818


17,188

Inventories



30,987


27,718


4,419

Prepaid expenses and other receivables



17,524


22,276


3,551

*Total current assets*



*3,671,308*


*4,408,422*


*702,804*

Property, plant and equipment, net



551,434


552,960


88,155

Non-current deposits



237,487


233,115


37,164

Non-current accounts receivable, less
  allowance for doubtful accounts









  (March 31, 2017: RMB70,744; 









  March 31, 2018: RMB69,713 (US$11,114))



135,148


101,809


16,231

Inventories



68,775


71,758


11,440

Intangible assets, net



106,686


102,065


16,272

Available-for-sale equity securities



200,790


153,882


24,532

Other investment



189,129


189,129


30,152

Deferred tax assets



22,155


31,295


4,989

*Total assets*



*5,182,912*


*5,844,435*


*931,739*







*LIABILITIES*









*Current liabilities*









Convertible notes, net



1,031,154


-


-

Accounts payable



11,060


11,372


1,813

Accrued expenses and other payables



65,162


73,023


11,641

Deferred revenue



323,690


366,373


58,408

Amounts due to a related party



4,679


-


-

Income tax payable



11,383


17,407


2,775

*Total current liabilities*



*1,447,128*


*468,175*


*74,637*

Non-current deferred revenue



1,569,579


1,874,014


298,762

Other non-current liabilities



302,233


362,876


57,851

Deferred tax liabilities



21,423


20,628


3,289

*Total liabilities*



*3,340,363*


*2,725,693*


*434,539*







*EQUITY*










*Shareholders' equity of Global Cord Blood Corporation*










Ordinary shares










-   US$0.0001 par value, 250,000,000 shares authorized,
    73,140,147 shares issued and 73,003,248 shares outstanding










    as of March 31, 2017 and 120,961,641 shares issued and
    120,824,742 shares outstanding as of March 31, 2018



50


83


13



Additional paid-in capital



936,417


2,053,866


327,434



Treasury stock, at cost










(March 31, 2017 and 2018: 136,899 shares,
  respectively)



(2,815)


(2,815)


(449)



Accumulated other comprehensive income/(loss)



24,428


(54,654)


(8,713)



Retained earnings



879,775


1,116,873


178,056



*Total equity attributable to Global Cord Blood Corporation*



*1,837,855*


*3,113,353*


*496,341*



Non-controlling interests



4,694


5,389


859



*Total equity*



*1,842,549*


*3,118,742*


*497,200*



*Total liabilities and equity*



*5,182,912*


*5,844,435*


*931,739*

*EXHIBIT 2*

*GLOBAL CORD BLOOD CORPORATION*

*UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME*

For the Three Months and Year ended March 31, 2017 and 2018


*Three months ended March 31,*


*Year** ended March 31,*


*2017*


*2018*


*2017*


*2018*


*RMB*


*RMB*


*US$*


*RMB*


*RMB*


*US$*


*(in thousands except per share data)*















Revenues


201,998


232,981


37,142


759,978


936,768


149,343



Direct costs


(41,019)


(44,231)


(7,051)


(142,640)


(181,483)


(28,933)



*Gross profit*


*160,979*


*188,750*


*30,091*


*617,338*


*755,285*


*120,410*



*Operating (expenses)/income, 
  **net*















Research and development


(3,151)


(3,445)


(549)


(10,367)


(12,718)


(2,028)



Sales and marketing


(53,683)


(59,653)


(9,510)


(178,482)


(219,202)


(34,945)



General and administrative


(47,829)


(83,458)


(13,305)


(189,940)


(243,502)


(38,819)



Other operating income


-


-


-


26,316


-


-



*Total operating expenses, net*


*(104,663)*


*(146,556)*


*(23,364)*


*(352,473)*


*(475,422)*


*(75,792)*



*Operating income*


*56,316*


*42,194*


*6,727*


*264,865*


*279,863*


*44,618*



*Other (expenses)/income, net*















Interest income


4,394


5,903


941


17,416


21,936


3,497



Interest expense


(30,190)


-


-


(119,418)


(3,257)


(519)



Foreign currency
  exchange (losses)/gains


(158)


15


2


(38)


133


21



Dividend income


-


-


-


45


634


101



Impairment loss on















available-for-sale equity















securities


-


-


-


(2,533)


-


-



Others


4,875


679


108


5,974


4,226


673



*Total other (expenses)/*















*  income, net *


*(21,079)*


*6,597*


*1,051*


*(98,554)*


*23,672*


*3,773*



*Income before income tax *


*35,237*


*48,791*


*7,778*


*166,311*


*303,535*


*48,391*



Income tax benefit/(expense)


3,885


(16,771)


(2,674)


(37,622)


(62,656)


(9,989)



*Net income*


*39,122*


*32,020*


*5,104*


*128,689*


*240,879*


*38,402*



Net income attributable to















non-controlling interests


(1,182)


(1,506)


(240)


(2,499)


(3,781)


(603)



*Net income attributable to *















*Global Cord Blood *















*Corporation's*















*shareholders*


*37,940*


*30,514*


*4,864*


*126,190*


*237,098*


*37,799*















*Earnings per share:*















Attributable to ordinary shares















-   Basic


0.45


0.27


0.04


1.59


2.10


0.33



-   Diluted


0.45


0.25


0.04


1.59


1.99


0.32















*Other comprehensive
  **income/(losses), net of nil
  **income taxes*















-  Foreign currency translation















 adjustment


5,565


(16,562)


(2,640)


(22,309)


(49,630)


(7,912)



-   Unrealized holding
     gains/(losses)















in available-for-sale equity















securities















  - Unrealized holding
    gains/(losses) arising















   during the period/year


14,519


(2,515)


(401)


(40,575)


(29,619)


(4,722)



  - Reclassification adjustment















    for losses included in















    net income


-


167


27


2,533


167


27



    Total other comprehensive















       income/(losses)


20,084


(18,910)


(3,014)


(60,351)


(79,082)


(12,607)



*Comprehensive income*


*59,206*


*13,110*


*2,090*


*68,338*


*161,797*


*25,795*















Comprehensive income















  attributable to non-controlling















interests


(1,182)


(1,506)


(240)


(2,499)


(3,781)


(603)



*Comprehensive income *















*attributable to Global Cord *















*Blood Corporation's*















*shareholders*


*58,024*


*11,604*


*1,850*


*65,839*


*158,016*


*25,192*

*EXHIBIT 3*

*GLOBAL CORD BLOOD CORPORATION*

*RECONCILIATION OF NON-GAAP OPERATING INCOME*

For the Three Months and Year ended March 31, 2017 and 2018


*Three months ended March 31,*



*Year** ended* *March 31,*


*2017*



*2018*



*2017*



*2018*


*RMB*



*RMB*



*US$*



*RMB*



*RMB*



*US$*


*(in thousands)*





GAAP amount of operating




















  income


56,316



42,194



6,727



264,865



279,863



44,618



Depreciation and amortization




















  expenses^5


12,644



12,824



2,044



50,481



50,590



8,065



Share-based compensation




















  expense^6


15,705



47,889



7,635



62,241



84,268



13,434



Non-GAAP operating income


84,665



102,907



16,406



377,587



414,721



66,117





^5 Depreciation and amortization expenses relate to property, plant and equipment and intangible assets respectively.

^6 As of March 31, 2017, a total of 7,300,000 RSUs were issued and outstanding under the company's RSU scheme. During the three months ended March 31, 2018, all of the 7,300,000 RSUs were fully vested upon which no RSUs are still outstanding. All of the unrecognized share-based compensation expense was then recognized in the three months and year ended March 31, 2018. Reported by PR Newswire Asia 35 minutes ago.

HONG KONG (Reuters) - The rapidly deteriorating trade and investment relationship between Washington and Beijing is sending a further chill through Chinese dealmakers who have already seen the number of Chinese acquisitions of American assets take a big hit. Reported by Reuters 9 hours ago.

A humanised robot named Sophia who was created and programmed locally advised Hong Kong’s leader on Wednesday on how to succeed with plans for a smart city. In a nine-minute dialogue with Chief Executive Carrie Lam Cheng Yuet-ngor at the American Chamber of Commerce’s smart city forum in Wan Chai, Sophia anticipated “even greater things” in Hong Kong’s blueprint for innovation as unveiled by the top official last December. Dressed in a dark blue sleeveless top and... Reported by S.China Morning Post 9 hours ago.

HONG KONG (Reuters) - The rapidly deteriorating trade and investment relationship between Washington and Beijing is sending a further chill through Chinese dealmakers who have already seen the number of Chinese acquisitions of American assets take a big hit. Reported by Reuters India 9 hours ago.

HONG KONG, June 27, 2018 /PRNewswire/ -- *GTI Summit 2018 Shanghai, *with the theme *"5G+AI, Go Intelligent and Connected", *was successfully held on June 27 during Mobile World Congress Shanghai 2018. Delegates from governments, organizations, operators, vertical and partners attended this summit to explore how 5G and AI will enable the future innovations for an intelligent and connected world.

Mr. Houlin Zhao, Secretary-general of ITU states the significance of deep integration of 5G and AI in promoting the progress of human society and improving the living quality and sustainability on our planet. ITU expects GTI 2.0 to leverage its valuable experience in 1.0 phase and continue to serve as an effective platform that brings together partners from telecom industry and the verticals for joint innovation towards 5G.

*Operators and vendors actively drive 5G development and explore 5G use cases closely with verticals to pave the way for an intelligent and connected world. *

"China Mobile will proactively keep up with the new trend of everything intelligently connected, practice the Big Connectivity strategy and promote integration of 5G+AI, striving to become a leading operator with digital innovation," stated Mr. Shang Bin, Chairman of China Mobile, during the summit. "This will be achieved through building top-notch information communication infrastructure, world-leading 5G network, smart operation and service capability with 5G+AI, and a synergetic win-win digital ecosystem."

Mr. Sunil Mittal Bharti, Chairman of GSMA and Bharti Enterprise stated that the exponential demand on connections, data usage, connected devices and transitions in India market can only be met through 5G which is enabled by network with maximum reuse of legacy assets, devices with fine performance and readiness, Digital India Program and ecosystem with industry verticals.

NTT Docomo shared its goal of realizing brilliant life and industrial revolution with 5G and AI. Through its 5G open partner program and lab, Docomo has been exploring applications in various areas and making significant progress on remote control for construction equipment and remote medical services.

Verizon spoke on 5G's multipurpose capabilities for diverse scenarios and the need for building the next platform of innovation focusing on 5G standard, spectrum, technologies and passive infrastructures, asserting that 5G innovations are only limited by our imagination.

Mr. Borje Ekholm, President and CEO of Ericsson believed that the 5G race is on and when use cases and business potential are defined and technologies for smooth introduction are available, 5G will meet consumer expectation and further enable smart tools and people.

*Verticals expect expedited development of 5G and AI technology to enable opportunities and innovation applications to all aspects of society.*

Mr. Pan Weidong, VP and CFO of SDP Bank, envisioned disruptive financial services and new business models enabled by 5G+AI and cross-industry innovation. Mr. Li Zhengyu, VP of Baidu elaborated on how the Aollo Open platform and 5G accelerate the construction of a new ecosystem of autonomous driving and intelligent transportation. Academician Markku Kulmala, professor of university of Helsinki, shared the need for 5G in global air quality network for continuous and comprehensive observation to fight the global challenge of air pollution. Ms. Caroline Chan, VP of Intel spoke on the pivotal role of 5G in realizing the "always connected PC" for continuously evolving user experience. 

*"5G in China: the enterprise story",* a joint report by GTI and GSMA was released at the summit. Mr. Mats Granryd, General Director of GSMA was interviewed by the moderator and commented that the report reveals the need for a supportive policy environment to incentivize industry collaboration and empower mobile operators to work with other sectors to innovate and launch new 5G services faster.

*"GTI 5G S-Module (Superior Universal Module) Industrial Cooperation Plan" *was jointly released by Mr. Li Zhengmao, EVP of China Mobile and representatives from operators and industrial and vertical vendors, aiming at unifying the demands from verticals for 5G capability, lowering the application barriers and expanding the scale of application.

5G is believed to be a key enabler for innovative services and applications in next few years that should reshape our society and various verticals in a way we have never seen before. When it encounters AI (Artificial Intelligence), another disruptive technology penetrating into all aspects of our society, our world is filled with even more possibilities and inspirations, taking innovation to another level. In the future, GTI will continue to join hands with industrial partners to build an effective international cooperation platform to promote 5G commercialization and joint innovation. 

*What is GTI?*

*Global TD-LTE Initiative (GTI)*, founded in 2011, has been dedicated to constructing a robust ecosystem of TD-LTE, speeding up the commercialization of TD-LTE and promoting the convergence of LTE TDD and FDD. As 4G evolves to 5G, GTI 2.0 was officially launched at the GTI Summit 2016 during the Mobile World Congress 2016 in Barcelona, aiming not only to further promote the evolution of TD-LTE and its global deployment, but also fostering a cross-industry innovative and a synergistic 5G ecosystem.

*GTI Summit *is a premier event that industry professionals should attend. This summit brings together the industry's most influential decision makers, policy makers and partners from around the globe to discuss the latest industry trends, share cutting-edge technologies and release innovative achievements. It is held three times a year in Barcelona, Spain; Shanghai, China and America respectively.

View original content:http://www.prnewswire.com/news-releases/gti-uphold-5gai-for-an-intelligent-and-connected-world-300673147.html Reported by PR Newswire Asia 9 hours ago.