Cordlife Group faces operational limits until January 2025

It expects a continued negative financial impact for 2024.

The Ministry of Health has given Cordlife Group Limited a directive which alters its cord-blood banking service license, as it resumes operations with restrictions following its suspension on 15 June. 

Starting 15 September until 13 January 2025, Cordlife shall not collect, test, process, and store a maximum of 30 new cord blood units per month from infant donors, unless earlier approval is granted by the Director-General of Health, the company said in a bourse filing.

Due to the operational limits, the group expects a continued negative financial impact for the fiscal year ending 2024.

In August this year, Cordlife’s substantial shareholder, Nanjing Xinjiekou, withdrew its bid to acquire the group’s remaining shares.