Cordlife Group

[GenS70]

I did some search online and realise that the potential offerer for ChinaCord (CO), Nanjing XinJiekou happens to be part of the Sanpower group who has some recent dealings with Golden Meditech, who owns significant stake in CO and has a pending non binding offer for CO, the dealings relate to a 28% stake in Fortress Group that Golden Meditech sold to Sanpower but subsequently has to make huge provision as the deal cannot be consummated yet, feel free to add if you guys found anything to add

[Aldar]

http://www.bloomberg.com/news/articles/2...ood-assets

- $966m non-binding bid on 06 Aug 2015 from Nanjing Xinjiekou Department Store, a Chinese departmental store whose book equity is $219m (tangible book equity is a negative $593m)

- Stock price of Nanjing Xinjiekou Department Store was affected by recently reported interim losses while carrying over $950m in interest-bearing debt (excluding undisclosed off-balance sheet debt and a sudden suspicious jump in other current liabilities from $40m in FY04 to $207.5m in 1Q15)

- The market value of the NYSE:CO was around $460m before the bid. Much of its cash & cash equivalents were raised from $243m in external funds; its cash outflow on “investing activities”, including related-party transactions, amount to $130m, corresponding to the increase in “unearned revenue”

- The sum of NYSE:CO's external funds raised and the cash outflow in investments approximates the total cash and cash equivalents

[GenS70]

http://www.bloomberg.com/news/articles/2...ood-assets

Separately, Zhongyuan Union Cell & Gene Engineering Corp Ltd., which is also suspended, said in a Shanghai stock exchange statement late Thursday that it had made an offer to buy the convertible bonds of China Cord Blood held by Cordlife Group Ltd. Zhongyuan didn’t immediately comment further.

Guess when is Zhongyuan Union Cell last traded in Chinese exchange? 24th April

Coincidentally Nanjing Xinjiekou also suspended in Chinese exchange, last traded on 30th June

simply hilarious to me

[opmi]

Showtime. EGM lai liao.

Tai Tak's Ho. Got $$$ one. One of the big shareholders of UOB.

http://www.singaporelawwatch.sg/slw/head...Ey5t8.dpbs

Two Cordlife shareholders seeking board seats
Source
Business Times
Date
20 Apr 2016
AuthorAnita Gabriel

Long-time stakeholders Bonvests and Tai Tak Estates plan to call for shareholder meeting following the sudden resignation of CEO Jeremy Yee

- See more at: http://www.singaporelawwatch.sg/slw/head...Ey5t8.dpuf

http://infopub.sgx.com/FileOpen/Notice%2...eID=400065

http://infopub.sgx.com/FileOpen/CGL%20-%...eID=400253

[new-comer1]

http://infopub.sgx.com/FileOpen/Cordlife...eID=424587

http://infopub.sgx.com/FileOpen/Cordlife...eID=424588

[enigmack]

Hi all,

Been observing the price have been dropping a lot recently till less than a S$1 today. I was not able to find any details on the price drop anywhere. Would any VB buddies able to shed some light? With a PE of about 20, it seems fairly priced imho.

[level13]

Hi all,

Been observing the price have been dropping a lot recently till less than a S$1 today. I was not able to find any details on the price drop anywhere. Would any VB buddies able to shed some light? With a PE of about 20, it seems fairly priced imho.

Enigmack,

All things happen for a reason and if you analyse further instead of just relying only on the PE number, you will find:

- they overpaid for the stemlife acquisition. may need to write off the goodwill some time down the road
- revenue has been stagnant in their core business
- profits are dropping, they made a loss in 1Q2017
- they have 68 million of notes due in Oct 2017

The cash required for the acquisition and notes redemption will wipe out 80% of their current cash level. 
The drop in share price is justified and IMO we have not seen the bottom yet.

[enigmack]

Hi all,

Been observing the price have been dropping a lot recently till less than a S$1 today. I was not able to find any details on the price drop anywhere. Would any VB buddies able to shed some light? With a PE of about 20, it seems fairly priced imho.

Enigmack,

All things happen for a reason and if you analyse further instead of just relying only on the PE number, you will find:

- they overpaid for the stemlife acquisition. may need to write off the goodwill some time down the road
- revenue has been stagnant in their core business
- profits are dropping, they made a loss in 1Q2017
- they have 68 million of notes due in Oct 2017

The cash required for the acquisition and notes redemption will wipe out 80% of their current cash level. 
The drop in share price is justified and IMO we have not seen the bottom yet.

Thank you for your insights, level13. I have noted points 2 and 3 but 1 and 4 was not immediately obvious to me.

[cyclone]

CORDLIFE: 9M profit +45%, generates $8.2 m net cash

Written by Leong Chan Teik
Published: 22 November 2019

Cordlife Group's business of cord blood, cord lining and cord tissue banking services is very cash-generative.

Clients either pay entire lump sums upfront or instalment payments over several years.

They piled S$8.2 million to Cordlife's net cash position in the first 9 months of this year.

The cashpile, including short-term investments, stood at S$46.9 million as at end-Sept 2019.

That's 40% of its current market cap of S$117 million.

With the cashpile, Cordlife said it is looking for M&A opportunities in Asia that are synergistic with its current business and, of course, earnings-accretive.

Meanwhile, it awaits developments in connection with its proposal, announced in June 2019, to merge with Global Cord Blood Corp (GCBC).

GCBC, listed in New York, is China's largest operator of cord blood banking services.

While there are major hurdles to overcome first, the impact of a successful merger cannot be over-emphasised for Cordlife.

It would result in a very profitable, very cash-rich, very diversified Cordlife. In fact, Cordlife would become the biggest cord blood bank player in the world

More details in https://nextinsight.net/story-archive-ma...s-briefing

[SLC81]

https://www.marketscreener.com/quote/sto...-30592355/

Profit margin improving and with Netcash postion, this is the company we shall invest in.
Vested.