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Golden Meditech Holdings Ltd Comments On H1 2014 Earnings Guidance


Monday, 18 Nov 2013 04:00am EST 

Golden Meditech Holdings Ltd announced that for first half of 2014, it expects to record a loss as compared to a profit recorded for the first half of 2013. The Board considers that such substantial increase in loss is mainly attributable to the non-cash loss in a subsidiary as a result of the fair value accounting basis of the convertible notes issued by one of the subsidiaries of the Group, China Cord Blood Corporation (CCBC). As of September 30, 2013, the share price of CCBC rose to USD3.80 per share, which was approximately 33.90% above the conversion price of the convertible notes of CCBC, resulting in an increase in the fair value of the convertible notes; and unrealised loss as a result of the decline in market values of certain security investments held by the Group, as opposed to a gain recorded in the corresponding period last year. The losses as stated above were recognised in compliance with the currently applicable accounting standards of the Group. They are non-cash in nature and have no effect on the Group’s business operations for the current reporting period. 

Company Quote

1.1
-0.01 -0.90%
2:59am EST