Speech by President Barroso: Tackling…

Deputy Minister, President, Professor Phạm Mạnh Hùng,Vice Presidents, Professors Phan Công Nghĩa, Trần Thọ Đạt and Phạm Quang Trung,Distinguished guests,Ladies and gentlemen,Students and friends,Let me start by thanking Deputy Minister of Education and Training of Vietnam and President of the National Economics University, Professor Phạm Mạnh Hùng, and Professors Phan Công Nghĩa, Trần Thọ Đạt and Phạm Quang Trung, Vice Presidents of the National Economics University.I am grateful to receive this honorary doctorate not only from a leading university in Vietnam, but from one of the leading business schools in South East Asia;Because, your university understands the importance of being forward thinking and outward looking, not least by working together with some of the best economic institutes in Europe, and taking advantage of the European Union’s increased opportunities under our Erasmus + and the Marie Skłodowska-Curie programmes for students and researchers.This is what international cooperation is all about.Education, training and research are vital for successful development, but in the globalised world we live in, only by sharing our ideas, exchanging best practices, and engaging in cultural dialogue with our partners, can we hope to move forward, together.So allow me to share with you today my thoughts on how we see the world today, how Europe has moved forward, overcoming the recent economic and financial crisis by remaining united and more open than ever before, and how we can shape together our relations with Vietnam to the mutual benefit of our respective countries and our people.Ladies and gentlemen,The world is going through sweeping changes. Globalisation as a phenomenon is now entrenched globally. There is no hiding away from it; no turning back the clock.And nor should we want to. Globalisation presents some risks but even more opportunities. So what we need to do together is to minimise the risks and embrace the opportunities.One of the key structural changes and opportunities of the last decades is precisely the prospering of Asian economies, the dynamism of your societies and the rise of Asia in global politics, which is truly shaping our world.Vietnam is no exception, and Hanoi is a shining example of the changes the world has undergone over the last decades. Since my last visit in 2007, the city has trebled in size and more than doubled in population.In the 20th Century, there has been a 40-fold increase in economic output. But while it took 155 years for Britain, for example, to double its GDP per capita, it took Vietnam less than 10.So you are proof that rather than us being at the end of history, history and progress are actually accelerating at an unprecedented pace.And one of the key areas where this is felt very clearly is the economy.The recent shock to the global economy has impacted us all over the world, from Europe to Southeast Asia, revealing to which point we are all inextricably interconnected and interdependent today.In the European Union this has led to a leap in our integration.In fact even if this crisis did not affect all European Member States in the same way, the European Union, and politicians across Europe, collectively took the decision to stick together.They did it – and this is important to understand – because the European Union is not just a project of regional integration; it is not just an internal market; the Euro is not just an economic project; because the European Union is all of the above and, more importantly, it is a project of values, of democracy and peace.100 years ago this year, European leaders were sending their troops into battle against one another in what became known as the First World War. Only 70 years ago France was occupied by Germany during the Second World War. But Europe’s founding fathers had a vision of a future void of the pain, anguish and tragedy which contaminated the early 20th Century.And so we came together and emerged as a Union back in the 1950’s.And we have grown from 6 countries in 1957 to 28 in 2014; from 168 million people to 507 million.More than anything, our enlargement shows that the European Union was, and is, a beacon for hope, allowing us to overcome successfully old divisions, consolidate democracy and come together.I have lived this personally. My country, Portugal was a dictatorship for 40 years. I was 18 years of age when the democratic revolution provoked a regime change and democracy prevailed. And I can tell you that the main goal of the democratic politicians, the great hope of all that young generation was to join the European Union, to be able to enjoy the same freedoms, the same prosperity that European Union members had.And 30 years ago when the Berlin Wall fell all those countries in Central and Eastern Europe had as their reference and their main ambition to become members of the European Union. The European Union has remained throughout its history a lighthouse for freedom and democracy.This was precisely why the Nobel Peace Committee decided to award the Nobel Peace Prize to the European Union in 2012.Today it is simply inconceivable that our Member States would ever go to war with one another again. Because our objective has always been clear.Without union, peace and shared values, there can be no prosperity.This is what market analysts and commentators have underestimated during the crisis, notably the fact that the European Union and the Euro represent a fundamental political choice of Europeans to stay together and build a common house together.Today I can say we are emerging from that crisis because we have turned the page; indeed I would say we have started a new chapter.Of course there are many ways we did this, but let me highlight three examples:First, we put in place a more extensive system of economic and budgetary governance at a European level. Member States’ national budgets are now sent to Brussels before they are formally approved at a national level; thereby ensuring that we can correct imbalances before they emerge;Secondly, we showed solidarity within the European Union through the creation of a European Stability Mechanism worth 1 trillion USD to help Euro area Member States in need of financial support;And thirdly, we increased transparency and accountability in our banking sector by having common European rules for banks; and by giving the European Central Bank autonomous control over national banks.I know that Vietnam – like other partners – faces similar challenges with bank lending to the state-owned sector and a high level of bad debt. And so your decision to oversee centrally the process of bank restructuring is the right one. Central and independent regulators are essential to create a healthier financial system and attract much-needed private capital.Because only by putting our finances in order and modernising our economies, can we deliver smart, sustainable and inclusive growth and create quality jobs, rather than generate debt-funded artificial growth.But what is perhaps our greatest achievement in the European Union was not just to overcome the crisis and start growing again. This year we expect a growth rate of 1.6% and 2% next year. But it was that we have weathered the storm by remaining open, both internally and internationally by keeping our economies open.Because this is how we adjust for the future.This is why our model in Europe is one of open regionalism. The European Union represents now a €12.6 trillion economy, the largest in the world. Only the United States is in the same league, worth €11.3 trillion, while even China remains considerably smaller, at €4.6 trillion.The European Union remains the largest trading bloc in the world with over 20% of world GDP. We are simultaneously the biggest source, and destination of, foreign direct investment in the world.And today we have a greater number of Free Trade Agreements than ever before, having recently concluded negotiations with Singapore, [and Canada], and as we continue to make progress with the United States, Japan, India, Malaysia, as well as with Vietnam.History shows that people and countries prosper when they open up to the world, when they expand their trade, when they exchange ideas, not when they turn inwards or disconnect from the rest of the world.Ladies and Gentlemen,This is why we want to have a strong partnership with Vietnam;This why I am visiting your country once again.Because we believe that only through cooperation, political dialogue, economic exchanges can we create the bonds that will make peace a common cause, and can we help each other to deliver what our people expect from us, greater freedom and well-being.I am proud to have launched the negotiations for a Partnership and Cooperation Agreement with Vietnam back in 2007 when I visited the country for the first time.These negotiations were concluded, with the agreement signed in 2012. It is now the basis of our cooperation, ranging from political dialogue to education, science and technology, environment and climate change to human rights.The European Union is also the largest export market and the second largest trade partner of Vietnam. But also here in the economic field, I believe we can and must do more.This is why in 2012 we launched negotiations for a Free Trade Agreement (FTA). We need to aim at a comprehensive and ambitious agreement covering tariffs and non-tariff barriers, as well other trade related aspects, notably procurement, regulatory issues, competition, and services.This agreement has an enormous potential, and once concluded will create crucial jobs and opportunities for both of us.But a genuine partnership cannot be forged only at official or diplomatic level. Our civil societies need to be part of it too.The greatest asset that any country has, and Vietnam is not exception is its people, in particular its youth. You have a very young and dynamic population, with a median age of 28 year (one just has to look into this audience to realise that). And it is you, the younger generation that will determine the future of the country. It is therefore important that the State and societal structures are shaped in a way where the aspirations and hopes of the young can be best fulfilled.Human Rights and the respect for the rule of law are also fundamental and need to be secured through open dialogue, political pluralism and a vibrant civil society. This is an important dimension of our partnership and is very important for the deepening of our bilateral ties.Ladies and Gentlemen,The world is changing. And with such great change come great challenges, global challenges that require global responsibility too:Climate change, energy security, scarcity of natural resources, poverty, education, universal health care – all these issues require regional and global, as well as local and national, action;This is why we must remain steadfast in our commitment to international agreements;It is why we must make every effort to reach an agreement at the United National Climate Change Conference in Paris next year;It is why we must support green growth as you are doing yourselves, leading the way in South East Asia with your own “National Green Growth Strategy”;And why we are focusing on ‘sustainable energy’ in our development cooperation with Vietnam from 2014 – 2020, as part of our increased financial support which will reach 400 million euros over the next years;It is why meeting the Millennium Development Goals is essential – and I want to congratulate Vietnam on the remarkable progress you have made in fulfilling some of the MDGs way ahead of the 2015 deadline. It demonstrates an absolute understanding of what we are all required to do;And it is why we have stepped up our cooperation efforts with ASEAN countries on security, including on non-traditional security – a priority for both our regions.This brings me to my next point. We cannot hope to achieve sustainable growth and tackle global problems without peace and security. They are the foundations for human and social development, and a fundamental precursor for realising the values of democracy, rule of law, and respect for human rights.Recent events on our continent, such as Ukraine, as well as elsewhere, in Gaza or Syria, demonstrate that peace is far from guaranteed. It must be cherished and protected. It cannot be taken for granted.And where there are current tensions, they need to be de-escalated and resolved peacefully. I know that here, too, tensions have emerged due to maritime disputes with neighbouring countries. I want to say clearly that the European Union supports a political-diplomatic process and a peaceful resolution of the dispute in accordance with international law. We also support the ongoing efforts to reach a legally binding Code of Conduct that would guide and frame the claimants’ actions.Respect for international law and regional cooperative approaches are the best ways to de-escalate tensions and seek negotiated outcomes.Ladies and gentlemen,This reality is why the now 37-year old partnership between the European Union and ASEAN is especially important to us, not least that together we are the two most successful regional integration projects in the world;But because regional integration brought peace to Europe, and through peaceful means, at a moment where all could have been lost.ASEAN community building is what unites a diverse South East Asia;It is why the European Union remains committed to our partnership with ASEAN. I want to thank Vietnam especially for its role as ASEAN’s coordinator for EU-ASEAN relations;It is why we have, in line with the 2012 Brunei Plan of Action, turned our relationship into a more strategic and more substantial partnership;Why we have more than doubled our financial assistance to ASEAN integration, from 70 million euros to 170 million;And why I believe that with our record of strong and tangible support for ASEAN, the European Union can make a substantial contribution to the East Asia Summit.Ladies and gentlemen,We have big challenges ahead of us. As I can never say too often when I talk about our recovery in Europe, now is not the time for complacency.We must look ahead, but act now.Thich Nhat Hanh said that “We have to continue to learn. We have to be open. And we have to be ready to release our knowledge in order to come to a higher understanding of reality.”The European Union has this principle at its core through our relationship with our Member States and our international partners – if we are to continue to learn we must do so by learning from one another.Thank you very much for your attention. 25 Aug2014

Natural Beauty Announces 2014 Interim Results

Turnover Rose 22.1% to HK$248.5 Million

Contribution from Higher-margin Products Drove

Gross Margin Improvement

HONG KONG, Aug. 26, 2014 /PRNewswire/ — Natural Beauty Bio-Technology Limited (“Natural Beauty” or the “Group”; Stock Code: 00157), the leading professional skin-care, spa services and beauty training provider in China, announced today its interim results for the six months ended 30 June 2014.

For the six months ended 30 June 2014, turnover of the Group grew 22.1% to HK$248.5 million year-on-year (1H2013: HK$203.6 million), driven by an increase in product sales as a result of higher store productivity in Mainland China and Taiwan. Overall gross profit margin improved to 76.7%, as contribution from higher-margin products increased within the Group’s sales mix during the period (1H2013: 75.9%). Profit for the period amounted to HK$29.7 million for the six months ended 30 June 2014 (1H2013: HK$36.2 million). Earnings per share were 1.48 HK cents (1H2013: 1.81 HK cents). The Board recommended to distribute an interim dividend of 2.1 HK cents per share, equivalent to a dividend payout ratio of 141.5%.

Despite the economic growth slowdown in the Mainland China, turnover in the Mainland China market rose by 25.3% to HK$201.8 million for the six months ended 30 June 2014. The growth was driven by increase in sales of products, mainly due to the pilot-testing of “direct-own retail” management system to exercise better control over franchisees in order to drive higher store productivity. During the first half of 2014, gross margin on product sales was up 2.4 percentage points to 81.2%. Turnover for the Taiwan market also registered growth of 11.7% to HK$44.4 million, as the Group adopted door-by-door management via franchisee differentiation to utilize company resources efficiently. Gross margin on product sales expanded 3.5 percentage points to 82.4%. The gross margin improvement in both Mainland China and Taiwan was a result of higher sales contribution from higher-margin products such as NB-1, and lower promotion discounts during the period under review. On the other hand, sales in other regions, including Hong Kong, Macau and Malaysia, decreased 17.9% to HK$2.3 million for the six months ended 30 June 2014, accounting for an insignificant 0.9% of the Group’s turnover.  

The Group derives its income principally from its network of distribution channels, including spas and concessionary counters in department stores. As at 30 June 2014, there were 1,358 spas and 14 concessionary counters. A total of 11 new stores were opened and 72 stores were closed during the six months ended 30 June 2014.

During the period, average sales per store of the Group amounted to HK$179,000 (1H2013: HK$138,000), of which average sales per store in the Mainland China grew 32.6% to HK$183,000, while average sales per store in Taiwan increased by 20.6% to HK$164,000.

The Group puts significant emphasis on research and development which allows it to maintain its competitive edge by continuously improving the quality of its existing products and developing new products. The Group has been collaborating with overseas skin-care companies on technological development, drawing on the experience of its team of experts to continually create high-quality beauty and skin care products. During the six months ended 30 June 2014, nearly 191,395 sets/bottles of the Group’s flagship NB-1 family products were sold with turnover amounting to HK$101.3 million, accounting for more than one-third of the Group’s total product sales during the period. The Group has also collaborated with a leading researcher in the field of human genome and stem cell technology. The stem cell technology is patented in the United States to protect the uniqueness of the NB-1 products.

Ms. Karen Chang, Chief Executive Officer of the Group said, “In 2014, the beauty and personal care sector maintained better than GDP growth and we are pleased to have achieved a much higher growth than the industry. Our growth is mainly attributed to the improved channel quality by implementing ‘direct-own retail’ management methodology to drive much higher door productivity. In order to maintain the encouraging growth momentum, we will strengthen trainings provided to our franchisees to ensure their operational quality. We also rationalize our products lines by relaunching NB-1 Revital products to increase the penetration of home care. We will press on with our prudent growth strategy, and strive to strengthen our position as a leading skin care brand and spa operator in the Greater China Region, so as to generate better returns for our shareholders.”

– End –

About Natural Beauty Bio-Technology Limited

Natural Beauty is a leading beauty and spa services and products provider in Greater China. The Group principally offers tailor-made beauty and skin care solutions through its trained professional beauticians. The Group is engaged in research and development, manufacture and sale of skin care, aroma-therapeutic and beauty products, marketed under the brandname “NB®”. The products are distributed through a distribution network of over 1,300 NB’s SPAs and dedicated counters in Greater China.

The “Winner” is Back!

KUALA LUMPUR, Malaysia, Aug. 25, 2014 /PRNewswire/ — With a well-earned reputation as Asia’s leading event for the feed, livestock and meat industries since its inception in 2001, LIVESTOCK ASIA 2015 EXPO & FORUM is set to return once again at the Kuala Lumpur Convention Centre from 21- 23 September, 2015. The 2015 show is expected to attract over 7,000 industry professionals and top decision makers to get updates on the latest innovations, which includes a programme of informative seminars providing invaluable information covering the latest developments in the feed, livestock and meat industries.

From Left: Prof. Dr. Zulkifli, Dato’ Dr. Vincent, Dr. Raghavan, Tan Sri Dr Ahmad Mustaffa, Prof. Datin Paduka Dr. Aini, Jeffrey Ng and Rose Chitanuwat.

From Left: Prof. Dr. Zulkifli, Dato’ Dr. Vincent, Dr. Raghavan, Tan Sri Dr Ahmad Mustaffa, Prof. Datin Paduka Dr. Aini, Jeffrey Ng and Rose Chitanuwat.

Recognised as the Mother event for the Asian Livestock Series, the Steering Committee team that has been formed to make the event a great success and more prestigious are leaders in livestock industry. Moreover, the World Poultry Science Association (WPSA) and World Poultry Veterinary Association (WPVA) of Malaysia will jointly organize a scientific conference during LIVESTOCK ASIA 2015.

The chairman of UBM Malaysia as well as the founder of the Livestock event, Tan Sri Dr. Ahmad Mustaffa Babjee, chaired the 2nd Livestock Asia Steering Committee Meeting held last week, making LIVESTOCK ASIA 2015 the most successful event to provide ongoing support to grow and develop Malaysia’s livestock industries. The members are:

  • Tan Sri Dr Ahmad Mustaffa Babjee, Chairman, UBM Malaysia
  • Dr. Raghavan, Livestock Consultant
  • Dato’ Dr. Vincent Ng, President, Veterinary Association Malaysia (VAM)
  • Prof. Prof. Dr. Zulkifli Idrus, President, World Poultry Science Association (WPSA) Malaysia
  • Prof. Datin Paduka Dr. Aini Ideris, President, World Poultry Veterinary Association (WPVA) Malaysia
  • Mr.Jeffrey Ng, Secretary General Federation of Livestock Farmers’ Associations of Malaysia (FLFAM)

Livestock Asia Expo & Forum presents the best opportunities for organisations to increase their brand exposure as they capitalize on special networking opportunities at this major event. To learn more about the show, please log on to http://www.livestockasia.com.

Notes to the Editor

About UBM Asia (www.ubmasia.com)

Owned by UBM plc listed on the London Stock Exchange, UBM Asia is Asia’s leading exhibition organiser and the biggest commercial organiser in mainland China, India and Malaysia. Established with its headquarters in Hong Kong and subsidiary companies across Asia and in the US, UBM Asia has a strong global presence in 25 major cities with 30 offices and over 1,400 staff.

With a track record spanning over 30 years, UBM Asia operates in 21 market sectors with 160 dynamic face-to-face exhibitions, 75 high-level professional conferences, 28 targeted trade publications, 18 round-the-clock vertical portals and virtual event services for over 1,000,000 quality exhibitors, visitors, conference delegates, advertisers and subscribers from all over the world. We provide a one-stop diversified global service for high-value business matching, quality market news and online trading networks.

UBM Asia has extensive office networks in China, Southeast Asia and India, three of the world’s fastest growing B2B events markets. UBM China has 11 offices in the major cities in mainland China, including Beijing, Shanghai, Guangzhou, Hangzhou, Guzhen and Shenzhen, where we organise more than 70 exhibitions and conferences. In ASEAN, UBM Asia operates from its offices in Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines with over 60 events in this region. UBM India teams in Mumbai, New Delhi, Bangalore and Chennai organise 20 exhibitions and 60 conferences every year across the country.

About UBM Asia in ASEAN (www.ubmasean.com)

In ASEAN, we serve 13 market sectors with wholly-owned subsidiary companies and JV companies in seven offices in the major cities in ASEAN, including Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Kuala Lumpur, Manila and Singapore. We provide over 60 products in various categories: trade fairs, conferences and publications. As the leading B2B event organiser in the region, we are the largest exhibition organiser in Malaysia.

Our products serve tens of thousands of exhibitors, visitors, conference delegates, advertisers, subscribers and corporations in the region and from all over the world with high value face-to-face business-matching events and quality conference programmes presented by top-notch industry leaders. We have over 130 staff in six countries.

This press information is issued by;

Marketing Communication Department

United Business Media (M) Sdn Bhd
A-8-1, Level 8, Hampshire Place Office
157, Hamphire 1, Jalan Mayang Sari
50450 Kuala Lumpur, Malaysia
Tel: +603-2176-8788 Fax: +603-2164-8786
E: sufian.zahari@ubm.com W: www.ubmasia.com

For more information on Livestock Asia 2015 Expo & Forum, contact;

Ms. Rita Lau / Ms. Salmiza Salim
E: rita.lau@ubm.com / salmiza.salim@ubm.com / livestockasia@ubm.com

Photo – http://photos.prnasia.com/prnh/20140822/8521404719
Logo – http://www.prnasia.com/sa/2010/04/19/20100419602891.jpg

GRE® Program Unveils Brand New Official Test Preparation Guides

— Never-before-published real test questions provide more in-depth practice to help prospective graduate and business school students

PRINCETON, New Jersey, Aug. 25, 2014  /PRNewswire/ — In response to requests from test takers, educators, and advisors for additional GRE® test preparation materials, the GRE Program has unveiled new practice questions for the GRE ® revised General Test to help students do their best on test day.

Logo – http://photos.prnewswire.com/prnh/20120110/DC33419LOGO

The “Official GRE® Verbal Reasoning Practice Questions, Volume One” and the “Official GRE® Quantitative Reasoning Practice Questions, Volume One” provide more in-depth practice for test takers and perfectly complement “The Official Guide to the GRE® revised General Test, Second Edition.”

Each guide provides 150 never-before-published questions with complete explanations, and valuable hints and tips. The verbal guide also includes brand new sample tasks for the GRE Analytical Writing Measure while the quantitative guide includes a review of the math topics that may appear on the test.

“One out of three test takers use our official study guide, but test takers in a recent survey indicated that they wanted more practice questions,” says Dawn Piacentino, Director of Communication and Services for the GRE Program at ETS. “In response to that feedback, we are introducing these new verbal and quantitative preparation books.”

These new guides, co-published with McGraw-Hill Education, are available in print and eBook formats through the ETS store and through bookstores worldwide.

The expansion of GRE test preparation materials is designed according to ETS officials to help test takers feel more confident on test day. Similarly, the ScoreSelect® option, available only with the GRE tests, was introduced so that students could show their best. With the ScoreSelect option, GRE test takers can decide on test day – or anytime up to 5 years after test day – which of their sets of scores to send to graduate or business schools worldwide. “It’s about success and achieving their dreams”, says Piacentino.

These new GRE test preparation materials join a growing assortment of print, video and online formats including the free POWERPREP ®II software which includes two full-length practice tests. Other official test preparation tools include the GRE® Success Starter video series, The Official Guide to the GRE® revised General Test, Second Edition”, a mobile app, and ScoreItNow! TM Online Writing Practice.

To learn more about all the official GRE test preparation tools, visit www.takethegre.com/prep.

About ETS
At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and postsecondary education, and by conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually — including the TOEFL® and TOEIC ® tests, the GRE ® tests and The Praxis Series® assessments — in more than 180 countries, at over 9,000 locations worldwide. www.ets.org

Yongda Auto Announced the Grand Opening of Yongda Morgan

The First Dealership Company of Morgan Motor in Eastern China

HONG KONG, Aug. 25, 2014 /PRNewswire/ — China Yongda Automobiles Services Holdings Limited (“Yongda Auto” or the “Company” and, together with its subsidiaries, the “Group”, stock code: 03669.HK), a leading passenger vehicle retailer and comprehensive service provider in China, is pleased to announce the grand opening of Yongda Morgan. Yongda is the first automobile dealership store in Shanghai and Eastern China authorized by Morgan, meanwhile, it symbolizes the extension of network of Morgan in Eastern China.

Yongda is China’s leading professional luxury and ultra-luxury automobile dealership group. The Company is the first in the industry to form a complete car sales chain of “driving learning, car buying, car selling, car rental, car repair and car maintenance”. It has become the largest domestic dealership group in the industry with the largest number of agency brands, the most complete services, and the most extensive operating network.

The Britain Morgan Motor Company is a motor brand with more than 100 years of history. Designed with personality and style in mind, the Morgan sports car is made from light-weight materials matched with modern high performance engines for a truly exhilarating driving experience. In the past 100 years, Morgan has been striving to produce the first-class sports cars, in order to provide customers with sheer driving pleasure, as well as high investment value. As the general agent in Eastern region, Yongda Morgan has launched the first showroom and service center in Shanghai, providing the unique classic sports car experience and choice for collection to high-end car owners. The person in charge of Yongda Morgan remarked, “Morgan, a car brand with profound British cultural heritage, will show its charm in this prosperous city — Shanghai, and Morgan’s products will be loved by the consumers in Shanghai and surrounding areas.” The opening of Yongda Morgan this time, not only provides the vast of car consumers with much convenience in choosing the top-class Morgan models, but also offers world-renowned excellent services and meticulous care for customers to the existing car owners.

About China Yongda Automobiles Services Holdings Limited

Yongda Auto is a leading passenger vehicle retailer and comprehensive service provider in China focused on luxury and ultra-luxury brands. Yongda Auto has a strong brand portfolio of luxury and ultra-luxury brands including Bentley, Porsche, BMW, Audi, Jaguar Land Rover, Audi, Volvo, Cadillac, Lincoln, Infiniti and Morgan. As of June 30, 2014, it has obtained manufacturers’ authorizations to open and operate more a total of 152 outlets. Its network has a strong presence in East China, including Shanghai, and has expanded into other regions in China. In addition to new passenger vehicle sales business, Yongda Auto also provides customers with a comprehensive range of automobile-related services through its “one-stop shop” approach. These include after-sales services, automobile rental services, as well as a wide array of services that it offers in connection with pre-owned vehicles, automobile insurance products, credit products and automobile financing and leasing.

For further information, please contact:

Porda Havas International Finance Communications Group

Kelly Fung



Angie An



Kit Ng



Victoria Huang



Fax: +852-3150-6728

China Cord Blood Corporation Receives Notice of Transaction Regarding its 7% Senior Convertible Note Due 2017 Held by Golden Meditech

HONG KONG, Aug. 25, 2014 /PRNewswire/ — China Cord Blood Corporation (NYSE: CO) (“CCBC” or the “Company”), China’s leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced that the Company has been informed that Magnum Opus International Holdings Limited (“Magnum”), a private vehicle that is controlled by CCBC Chairman Mr. Yuen KAM and involves the CCBC management team, together with Cordlife Group Limited (“Cordlife”), a Singapore listed company and substantial shareholder of the Company, have agreed to purchase the Company’s outstanding 7% senior convertible note due 2017 (the “Note”) held by Golden Meditech Holdings Limited (“Golden Meditech”), CCBC’s parent company, for a total consideration of approximately $88.1 million.

The Note was originally issued by the Company to Golden Meditech in 2012 with an aggregate principal amount of $50 million. Magnum and Cordlife are each obligated to purchase 50% of the Note, subject to customary closing conditions and satisfaction of all relevant approvals and consents, including but not limited to the approval of Golden Meditech’s independent shareholders.

About China Cord Blood Corporation

China 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 only seven licenses have been authorized as of today.  China 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.chinacordbloodcorp.com.        

About Magnum Opus International Holdings Limited

Magnum Opus International Holdings Limited is incorporated in the British Virgin Islands. It is controlled by Mr. Yuen KAM, CCBC’s chairman of the Board, and involves the CCBC management team. Mr. Yuen KAM is also the Chairman and Chief Executive Officer of Golden Meditech.

About Cordlife Group Limited (Bloomberg stock code: CLGL SP)

Incorporated in May 2001, Cordlife Group Limited is a multi-product healthcare company catering to the mother and child segment and a leading cord blood and umbilical cord lining banking services provider. Today, Cordlife operates the largest[1] private cord blood banks in each of Singapore, the Philippines and Indonesia, and is amongst the top three market leaders in Hong Kong and India. Cordlife also holds approximately 10.02% and 31.81% stakes in China Cord Blood Corporation and StemLife Berhad respectively, both of which are their countries’ largest cord blood bank operators. For more information, please visit www.cordlife.com.

[1] Source : Deloitte & Touche Financial Advisory Services Limited report, 10 April 2013

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the U.S. Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

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

ICR, Inc.
Mr. Bill Zima
Tel: (+86) 10-6583-7511 (China) or (+1) 646-405-5185 (U.S.)
Email: william.zima@icrinc.com