Cordlife warns of H1 2024 loss

The company will disclose more details on or before 14 August.

Cordlife expects to report a net loss for 1H 2024, compared to a net profit for 1H 2023.

More details will be disclosed when the company announces its Unaudited 1H2024 Results, which will be released on or before 14 August.

In April, the company offered to refund annual fees and waive subsequent fees for active clients with cord blood units in high-risk storage tanks and dry shippers, as deemed by the MOH expert panel.

On 30 November 2023, Cordlife received its first notice to suspend for up to six months the collection, testing, processing, and storage of new cord blood and human tissues, as well as providing new types of tests to patients in Singapore. 

On May 28, the company received a notice extending the suspension for an additional three months following further inspections.

Cordlife advises shareholders and potential investors to exercise caution when trading the company's shares and to consult their advisers if they have any doubts about their actions.