Cordlife, which has fully resumed operations, appointed executive director Chen Xiaoling as the group's CEO. She also serves as CEO of Singapore. The group also released its latest business report on Thursday, saying that the group obtained the...
Cordlife, which has fully resumed operations, appointed executive director Chen Xiaoling as the group's CEO. She also serves as CEO of Singapore.
The group also released its latest business report on Thursday, saying that the group obtained the umbilical cord blood storage service and human tissue storage service license issued by the Ministry of Health in January this year, and was approved to resume operations in full. However, the umbilical cord blood received by the group was still lower than the average before the event.
For claims from customers affected by the incident, as of the end of May, 56% of customers accepted annual fee refunds from the group and exempted other related fees. In addition, the group has increased its marketing efforts to increase the public's importance to umbilical cord blood storage and its role in ensuring future health issues.
Kangsheng Life Group issued a statement on the Singapore Exchange website at midnight on Thursday (June 5) saying that Chen Xiaoling, 34, was nominated for the major shareholder, Nanjing Xinjiekou Department Store (Nanjing Xinjiekou Department Store, referred to as Nanjing Xinjiekou Department Store), and replaced Yao Penghui, who resigned in February this year as the group's CEO.
She served as senior vice president and deputy general manager of Nanjing Xinbai Immunotherapy and Stem Cell Department from 2017 to 2024. She then served as directors at CS Technologies and Cordlife Technologies, owned by Kangsheng.
Kangsheng Life Group was exposed in 2023 that the temperature of the umbilical cord blood storage tank was too high, and was investigated by the relevant authorities. Several senior executives of the group were also investigated. Chen Xiaoling was arrested by the Bureau of Commercial Affairs (CAD) in May last year and was allowed to be released on bail, but she has not been charged so far.
Group's share price closed at 0.275 yuan on Thursday, up 1.85%.
Group said that Chen Xiaoling showed her ability to manage effectively during her tenure as the group's executive director, and she was also familiar with the group's operations and the challenges she faced. The Group believes that her performance and expertise qualifies as the Group CEO.
