Global Cord Blood Announces NHC Policy Update

Global Cord Blood Corporation, China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, reported that China's National Health Commission ("NHC") has issued a new policy stating that no applications for cord blood banking licenses in China will be accepted in 2021.

On December 30, 2020, the NHC's General Office announced the Notice Regarding the Matters Related to Issuance of Cord Blood Banking License* (the "Policy"). According to the Policy, in order to improve public health and medical safety and for the authorities to refine cord blood banking related policies, monitoring processes, and enforcement measures, it is decided that no cord blood banking license applications will be accepted in 2021.

The Company currently has 3 existing cord blood banking licenses in China which cover Beijing municipality, Guangdong province and Zhejiang province.

The Company cautions its shareholders and others considering trading its ordinary shares that the Policy did not provide further details regarding the regulatory landscape of the cord blood banking industry in China. The Company will issue further announcements in case of any new material developments.

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. Global Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services.