Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2021

Commission File Number: 001-34541

GLOBAL CORD BLOOD CORPORATION

(Translation of registrant’s name into English)

48th Floor, Bank of China Tower
1 Garden Road
Central
Hong Kong S.A.R.

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

EXPLANATORY NOTE

This Report of Foreign Private Issuer on Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or Global Cord Blood Corporation’s (the “Company”) future financial performance. The Company has attempted to identify forward-looking statements by terminology including “anticipates”, “believes”, “expects”, “can”, “continue”, “could”, “estimates”, “intends”, “may”, “plans”, “potential”, “predict”, “should” or “will” or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this Report on Form 6-K is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company does not guarantee future results, levels of activity, performance or achievements. The Company’s expectations are as of the date of this Report on Form 6-K, and the Company does not intend to update any of the forward-looking statements after the date of this Report on Form 6-K to conform these statements to actual results, unless required by law.

The forward-looking statements included in this Report on Form 6-K are subject to risks, uncertainties and assumptions about the Company’s businesses and business environments. These statements reflect the Company’s current views with respect to future events and are not a guarantee of future performance. Actual results of the Company’s operations may differ materially from information contained in the forward-looking statements as a result of risk factors some of which include, among other things: the effects of the current 2019 novel coronavirus (“COVID-19”) outbreak, including the inability of the Company’s salesforce to return to work due to current lockdowns implemented in various cities in the PRC and the imposition by some hospitals in the PRC of restrictions on entrance to solely to hospital staff and patients; levels of consumer confidence in the healthcare services sector generally in the PRC as a result of the outbreak; the length of the COVID-19 outbreak and severity of such outbreak across the globe; the pace of recovery following the COVID-19 outbreak; continued compliance with government regulations regarding cord blood banking in the People’s Republic of China, or PRC and any other jurisdiction in which the Company conducts its operations; changing legislation or regulatory environments in the PRC and any other jurisdiction in which the Company conducts its operations; the acceptance by subscribers of the Company’s different pricing and payment options and reaction to the introduction of the Company’s premium-quality pricing strategy; demographic trends in the regions of the PRC in which the Company is the exclusive licensed cord blood banking operator; labor and personnel relations; the existence of a significant shareholder able to influence and direct the corporate policies of the Company; credit risks affecting the Company’s revenue and profitability; changes in the healthcare industry, including those which may result in the use of stem cell therapies becoming redundant or obsolete; the Company’s ability to effectively manage its growth, including maintaining effective controls and procedures and attracting and retaining key management and personnel; changing interpretations of generally accepted accounting principles; the availability of capital resources, including in the form of capital markets financing opportunities, in light of legislative developments affecting U.S. listed issuers whose independent registered public accounting firms are based in the PRC and not subject to U.S. Public Company Accounting Oversight Board inspections, international pressure on trade and currency against the PRC and its potential impact on the PRC consumer behavior, as well as general economic conditions, and other relevant risks detailed in the Company’s filings with the Securities and Exchange Commission in the United States.

Results of Operations and Financial Condition

Following this cover page are the unaudited condensed consolidated financial results for the three months and nine months ended December 31, 2020 of the Company.

GLOBAL CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31 and December 31, 2020

	March 31,		December 31,
	2020		2020
	RMB		RMB		US$
	(in thousands except share data)
ASSETS
Current assets
Cash and cash equivalents	5,473,373		5,867,754		899,274
Accounts receivable, less allowance for doubtful accounts (March 31, 2020: RMB111,869; December 31, 2020: RMB124,205 (US$19,035))	104,251		128,962		19,765
Inventories	43,758		57,095		8,750
Prepaid expenses and other receivables	44,785		57,231		8,771
Total current assets	5,666,167		6,111,042		936,560
Property, plant and equipment, net	522,679		508,924		77,996
Operating lease right-of-use assets	4,548		5,573		854
Non-current deposits	347,360		343,006		52,568
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2020: RMB71,421; December 31, 2020: RMB70,125 (US$10,747))	160,031		202,658		31,059
Inventories	85,109		90,132		13,813
Intangible assets, net	92,823		89,357		13,695
Investment in equity securities at fair value	101,306		121,951		18,690
Other equity investment	189,129		189,129		28,985
Deferred tax assets	50,701		53,794		8,244
Total assets	7,219,853		7,715,566		1,182,464

LIABILITIES
Current liabilities
Accounts payable	19,992		9,743		1,493
Accrued expenses and other payables	113,989		128,233		19,653
Operating lease liabilities	1,717		3,116		478
Deferred revenue	402,751		423,350		64,881
Income tax payable	32,329		27,038		4,144
Total current liabilities	570,778		591,480		90,649
Non-current deferred revenue	2,289,762		2,367,446		362,827
Non-current operating lease liabilities	1,782		195		30
Other non-current liabilities	450,900		473,990		72,642
Deferred tax liabilities	18,140		16,990		2,604
Total liabilities	3,331,362		3,450,101		528,752

EQUITY
Shareholders’ equity of Global Cord Blood Corporation
Ordinary shares
- US$0.0001 par value, 250,000,000 shares authorized, 121,687,974 and 121,551,075 shares issued and outstanding as of March 31 and December 31, 2020, respectively	83		83		13
Additional paid-in capital	2,101,582		2,101,582		322,082
Treasury stock, at cost (March 31 and December 31, 2020: 136,899 shares, respectively)	(2,815	)	(2,815	)	(431	)
Accumulated other comprehensive losses	(94,663	)	(103,593	)	(15,876	)
Retained earnings	1,877,940		2,258,453		346,122
Total equity attributable to Global Cord Blood Corporation	3,882,127		4,253,710		651,910
Non-controlling interests	6,364		11,755		1,802
Total equity	3,888,491		4,265,465		653,712
Total liabilities and equity	7,219,853		7,715,566		1,182,464

GLOBAL CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months and Nine Months Ended December 31, 2019 and 2020

	Three months ended December 31,						Nine months ended December 31,
	2019		2020				2019		2020
	RMB		RMB		US$		RMB		RMB		US$
	(in thousands except per share data)

Revenues	334,733		290,798		44,567		921,572		857,318		131,389
Cost of revenues	(51,606	)	(44,878	)	(6,878	)	(145,670	)	(133,039	)	(20,389	)
Gross profit	283,127		245,920		37,689		775,902		724,279		111,000
Operating expenses
Research and development	(6,404	)	(8,985	)	(1,377	)	(17,504	)	(18,283	)	(2,802	)
Sales and marketing	(75,936	)	(68,994	)	(10,574	)	(201,453	)	(178,178	)	(27,307	)
General and administrative	(47,914	)	(43,984	)	(6,741	)	(147,251	)	(131,191	)	(20,106	)
Total operating expenses	(130,254	)	(121,963	)	(18,692	)	(366,208	)	(327,652	)	(50,215	)
Operating income	152,873		123,957		18,997		409,694		396,627		60,785
Other income, net
Interest income	6,350		7,190		1,102		19,072		22,767		3,489
Foreign currency exchange gains/(losses)	26		75		11		(164	)	183		28
Change in fair value of equity securities	8,047		6,003		920		10,983		30,107		4,614
Dividend income	—		—		—		507		1,281		196
Others	4,515		2,152		330		5,277		5,070		777
Total other income, net	18,938		15,420		2,363		35,675		59,408		9,104
Income before income tax	171,811		139,377		21,360		445,369		456,035		69,889
Income tax expense	(25,644	)	(21,220	)	(3,252	)	(67,207	)	(70,131	)	(10,748	)
Net income	146,167		118,157		18,108		378,162		385,904		59,141
Net income attributable to non-controlling interests	(1,154	)	(1,587	)	(243	)	(4,452	)	(5,391	)	(826	)
Net income attributable to Global Cord Blood Corporation’s shareholders	145,013		116,570		17,865		373,710		380,513		58,315

Earnings per share:
Attributable to ordinary shares
- Basic	1.19		0.96		0.15		3.07		3.13		0.48
- Diluted	1.19		0.96		0.15		3.07		3.13		0.48

Other comprehensive losses, net of nil income taxes
- Foreign currency translation adjustments	(30,953	)	(4,289	)	(657	)	(7,800	)	(8,930	)	(1,369	)
Comprehensive income	115,214		113,868		17,451		370,362		376,974		57,772

Comprehensive income attributable to non-controlling interests	(1,154	)	(1,587	)	(243	)	(4,452	)	(5,391	)	(826	)
Comprehensive income attributable to Global Cord Blood Corporation’s shareholders	114,060		112,281		17,208		365,910		371,583		56,946

Other Events

On February 24, 2021, the Company issued a press release announcing unaudited condensed consolidated financial results for the three months and nine months ended December 31, 2020. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.		Description

99.1		Press Release dated February 24, 2021

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.