CORDLIFE GROUP

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10 years 7 months ago #16876 by Rock
Replied by Rock on topic CORDLIFE GROUP
The following announcements by Cordlife Group Limited today:

Cordlife Partners With Golden Meditech To Expand Product Presence In China.
Golden Meditech listed on the Main Board of the Hong Kong Stock Exchange.

* Proposed strategic alliance with Golden Meditech a leading integrated healthcare enterprise in China
* Further capitalise on fast-rising chinese middle class, whose population is estimated to grow from 290 million in 2011 to projected 590 million by 2025.
* In line with Cordlife's growth plans to improve economies of scope via offering complementary products & services that cater to the mother & child segment, through partnerships & collaborations.

cordlife.listedcompany.com/newsroom/2013...257C0700307D80.1.pdf

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10 years 7 months ago #16903 by pine
Replied by pine on topic CORDLIFE GROUP
Rock, were you at the AGM? What did they say?

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10 years 7 months ago #16912 by Rock
Replied by Rock on topic CORDLIFE GROUP
Abb, I will post my observation & view when I am free.
Thanks for your interest too.

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10 years 6 months ago #16925 by Mel
Replied by Mel on topic CORDLIFE GROUP
Rock,
the businesses in India, the Philippines & Indonesia were acquired just before FY 13 ended. Do you think the contribution will be significant in the current FY? The consideration for the acquisition was only S$6.4 m, so it doesn't seem to be a big profit generator when the assets were owned by Life Corp of Australia. Wht do you think?

Secondly, can Cordlife Group ramp up the business in those 3 countries? That's something tht investors will look out for. At the mo, the valuation of Cordlife (($1.20) has priced in a lot of high expectations, hasn't it?

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10 years 6 months ago #16928 by Mel
Replied by Mel on topic CORDLIFE GROUP
adding on to above post, I see that the annual report says the trade receivables of Indon, India and Phil operations amounted to S$6.27 m. This is = the amount of instalments the clients are due to pay.

As for deferred revenue, it is $2.297 m = the payments received already for future service to be rendered by Cordlife (ie, continued storage of the clients' cord blood).

Both amounts are not really huge.

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10 years 6 months ago #16930 by Rock
Replied by Rock on topic CORDLIFE GROUP
FY2013 FINANCIAL HIGHLIGHTS
Revenue increased 14.6% year on year, driven by rise in
number of client deliveries
* Net profit after tax surged 94.7% to S$13.5 million
* Excluding one off items, net profit grow 33.6% to S$11.8
million
* Gross profit margin increased slightly from 71% in
FY2012 to 73% in FY2013
* Strong balance sheet with cash and cash equivalents of
S$23.3 million and low gearing of 0.08x
* Recommend final dividend of 1.0 cent in addition to
interim dividend of 1.0 cent; total dividend of 2.0 cents

CORDLIFE - FROM 1 PRODUCT TO 3 PRODUCTS BUSINESSES
1. Cord Bank Banking - Main product
2. Umbilical Cord. Tissue Banking - Main product (Boost recurring income)
3. Metabolic Testing - Recently launched

POINTS TO NOTE FOR CORDLIFE:
1) Cordlife had grows from one product business to three products businesses.
2) The recently acquired oversea businesses are all already in operation for a number of years so there is no start-up cost to worry about.
3) Cordlife recently acquired oversea businesses had not contribute to FY 2013. The oversea businesses will contrbute for the coming financial years. (Oversea companies are in Hong Kong, India, Indonesia, Malaysia & Philippines)
4) Hong Kong growth may be affected by the recent policy of lost in business coming from mainly China but the company is using Hong Kong as a launching pad for mainland China business as in the recent partnership with Golden Meditech.
5) Cordlife able to generate positive cash-flow yearly and low gearing - ratio of 0.08x (See report)
6) It's 10% shares in China Cord Blood Corp. are investment portfolio. (Listed in NASDAQ)
7) FY 2013 financial hightlights, Cordlife revenue growth by 14.6% but net profit growth by 33.6% (Profit margin double it's revenue)

My personal believe is CORDLIFE is a promising growth stock. It maybe trading above PE 20x but the growth will very soon catch up with the share price. Profit growth of FY13 on one product at 33.6%. At this rate profit growth profit will double in 3 years. With the addition of umbilical cord tissue bank and add on to the recent metabolic testing and in addition to the oversea businesses I believe Cordlife future is very promising.

The recent shares placement at $1.25 and the buying interest by COOP International Lte & FIL Ltd give me the confidence to accumulate more Cordlife shares on price weakness.

(For more details see reports attached)
infopub.sgx.com/Apps?A=COW_CorporateAnno...M_2013_PPT_Final.pdf

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