Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
August 30 2021 - 4:26PM
Edgar (US Regulatory)
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 August 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 ¨
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): ¨
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): ¨
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 ongoing impact of 2019 novel coronavirus (“COVID-19”),
including the partial 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 (including but not limited to cord blood license related regulations, Biosecurity laws, antitrust laws) 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; the non-binding proposal letter from Alternate Ocean Investment
Company Limited and the potential transaction contemplated by such letter, 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 ended June 30, 2021 of the Company.
GLOBAL CORD BLOOD CORPORATION
UNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
As of March
31 and June 30, 2021
|
|
March 31,
|
|
|
June 30,
|
|
|
|
2021
|
|
|
2021
|
|
|
|
RMB
|
|
|
RMB
|
|
|
US$
|
|
|
|
(in thousands except share data)
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
|
6,075,798
|
|
|
|
6,237,406
|
|
|
|
966,051
|
|
Accounts
receivable, less allowance for credit losses (March 31, 2021: RMB137,961; June 30, 2021: RMB147,293 (US$22,813))
|
|
|
130,298
|
|
|
|
135,415
|
|
|
|
20,973
|
|
Inventories
|
|
|
44,257
|
|
|
|
36,960
|
|
|
|
5,724
|
|
Prepaid
expenses and other receivables
|
|
|
47,788
|
|
|
|
66,912
|
|
|
|
10,363
|
|
Total
current assets
|
|
|
6,298,141
|
|
|
|
6,476,693
|
|
|
|
1,003,111
|
|
Property,
plant and equipment, net
|
|
|
498,656
|
|
|
|
488,803
|
|
|
|
75,706
|
|
Operating
lease right-of-use assets
|
|
|
5,039
|
|
|
|
4,504
|
|
|
|
698
|
|
Non-current
deposits
|
|
|
344,752
|
|
|
|
346,446
|
|
|
|
53,658
|
|
Non-current
accounts receivable, less allowance for credit losses (March 31, 2021: RMB67,095; June 30, 2021: RMB65,799 (US$10,191))
|
|
|
217,208
|
|
|
|
228,986
|
|
|
|
35,465
|
|
Inventories
|
|
|
91,446
|
|
|
|
92,449
|
|
|
|
14,319
|
|
Intangible
assets, net
|
|
|
88,202
|
|
|
|
87,047
|
|
|
|
13,482
|
|
Investment
in equity securities at fair value
|
|
|
117,911
|
|
|
|
121,875
|
|
|
|
18,876
|
|
Other equity
investment
|
|
|
189,129
|
|
|
|
189,129
|
|
|
|
29,292
|
|
Deferred
tax assets
|
|
|
55,845
|
|
|
|
59,024
|
|
|
|
9,142
|
|
Total
assets
|
|
|
7,906,329
|
|
|
|
8,094,956
|
|
|
|
1,253,749
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
9,479
|
|
|
|
13,883
|
|
|
|
2,150
|
|
Accrued expenses
and other payables
|
|
|
136,448
|
|
|
|
144,110
|
|
|
|
22,320
|
|
Operating
lease liabilities
|
|
|
1,636
|
|
|
|
1,655
|
|
|
|
256
|
|
Deferred
revenue
|
|
|
449,359
|
|
|
|
453,659
|
|
|
|
70,263
|
|
Income
tax payable
|
|
|
29,547
|
|
|
|
31,246
|
|
|
|
4,839
|
|
Total
current liabilities
|
|
|
626,469
|
|
|
|
644,553
|
|
|
|
99,828
|
|
Non-current
deferred revenue
|
|
|
2,392,906
|
|
|
|
2,418,456
|
|
|
|
374,571
|
|
Non-current
operating lease liabilities
|
|
|
147
|
|
|
|
99
|
|
|
|
15
|
|
Other non-current
liabilities
|
|
|
482,224
|
|
|
|
489,344
|
|
|
|
75,790
|
|
Deferred
tax liabilities
|
|
|
16,132
|
|
|
|
17,013
|
|
|
|
2,635
|
|
Total
liabilities
|
|
|
3,517,878
|
|
|
|
3,569,465
|
|
|
|
552,839
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders’
equity of Global Cord Blood Corporation
|
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares
|
|
|
|
|
|
|
|
|
|
|
|
|
-
US$0.0001 par value, 250,000,000 shares authorized, 121,687,974 and
121,551,075 shares issued and outstanding as of March 31 and June 30, 2021, respectively
|
|
|
83
|
|
|
|
83
|
|
|
|
13
|
|
Additional
paid-in capital
|
|
|
2,101,582
|
|
|
|
2,101,582
|
|
|
|
325,494
|
|
Treasury stock,
at cost (March 31 and June 30, 2021: 136,899 shares, respectively)
|
|
|
(2,815
|
)
|
|
|
(2,815
|
)
|
|
|
(436
|
)
|
Accumulated
other comprehensive losses
|
|
|
(103,179
|
)
|
|
|
(105,125
|
)
|
|
|
(16,282
|
)
|
Retained
earnings
|
|
|
2,386,187
|
|
|
|
2,522,608
|
|
|
|
390,703
|
|
Total
equity attributable to Global Cord Blood Corporation
|
|
|
4,381,858
|
|
|
|
4,516,333
|
|
|
|
699,492
|
|
Non-controlling
interests
|
|
|
6,593
|
|
|
|
9,158
|
|
|
|
1,418
|
|
Total
equity
|
|
|
4,388,451
|
|
|
|
4,525,491
|
|
|
|
700,910
|
|
Total
liabilities and equity
|
|
|
7,906,329
|
|
|
|
8,094,956
|
|
|
|
1,253,749
|
|
GLOBAL CORD BLOOD CORPORATION
UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
For the Three
Months Ended June 30, 2020 and 2021
|
|
|
|
|
|
Three
months ended June 30,
|
|
|
|
2020
|
|
|
2021
|
|
|
|
RMB
|
|
|
RMB
|
|
|
US$
|
|
|
|
(in thousands except per share data)
|
|
Revenues
|
|
|
280,913
|
|
|
|
315,174
|
|
|
|
48,814
|
|
Cost
of revenues
|
|
|
(43,463
|
)
|
|
|
(47,841
|
)
|
|
|
(7,409
|
)
|
Gross
profit
|
|
|
237,450
|
|
|
|
267,333
|
|
|
|
41,405
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
Research
and development
|
|
|
(4,345
|
)
|
|
|
(5,098
|
)
|
|
|
(790
|
)
|
Sales and
marketing
|
|
|
(55,060
|
)
|
|
|
(59,403
|
)
|
|
|
(9,199
|
)
|
General
and administrative
|
|
|
(44,536
|
)
|
|
|
(46,276
|
)
|
|
|
(7,167
|
)
|
Total
operating expenses
|
|
|
(103,941
|
)
|
|
|
(110,777
|
)
|
|
|
(17,156
|
)
|
Operating
income
|
|
|
133,509
|
|
|
|
156,556
|
|
|
|
24,249
|
|
Other
income
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
6,767
|
|
|
|
8,190
|
|
|
|
1,268
|
|
Foreign currency
exchange gains
|
|
|
42
|
|
|
|
146
|
|
|
|
23
|
|
Change in
fair value of equity securities
|
|
|
18,405
|
|
|
|
5,601
|
|
|
|
867
|
|
Dividend
income
|
|
|
—
|
|
|
|
1,120
|
|
|
|
173
|
|
Others
|
|
|
1,723
|
|
|
|
639
|
|
|
|
99
|
|
Total
other income
|
|
|
26,937
|
|
|
|
15,696
|
|
|
|
2,430
|
|
Income
before income tax
|
|
|
160,446
|
|
|
|
172,252
|
|
|
|
26,679
|
|
Income
tax expense
|
|
|
(26,021
|
)
|
|
|
(33,266
|
)
|
|
|
(5,152
|
)
|
Net
income
|
|
|
134,425
|
|
|
|
138,986
|
|
|
|
21,527
|
|
Net
income attributable to non-controlling interests
|
|
|
(1,916
|
)
|
|
|
(2,565
|
)
|
|
|
(397
|
)
|
Net
income attributable to Global Cord Blood Corporation’s shareholders
|
|
|
132,509
|
|
|
|
136,421
|
|
|
|
21,130
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable
to ordinary shares
|
|
|
|
|
|
|
|
|
|
|
|
|
-
Basic
|
|
|
1.09
|
|
|
|
1.12
|
|
|
|
0.17
|
|
-
Diluted
|
|
|
1.09
|
|
|
|
1.12
|
|
|
|
0.17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive losses, net of nil income taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
-
Foreign
currency translation adjustments
|
|
|
(439
|
)
|
|
|
(1,946
|
)
|
|
|
(301
|
)
|
Comprehensive
income
|
|
|
133,986
|
|
|
|
137,040
|
|
|
|
21,226
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
income attributable to non-controlling interests
|
|
|
(1,916
|
)
|
|
|
(2,565
|
)
|
|
|
(397
|
)
|
Comprehensive
income attributable to Global Cord Blood Corporation’s shareholders
|
|
|
132,070
|
|
|
|
134,475
|
|
|
|
20,829
|
|
Other Events
On
August 30, 2021, the Company issued a press release announcing unaudited condensed consolidated financial results for the three months
ended June 30, 2021. A copy of the press release is attached as Exhibit 99.1.
Exhibits
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.
|
GLOBAL
CORD BLOOD CORPORATION
|
|
|
|
|
By:
|
/s/
Albert Chen
|
|
Name:
|
Albert
Chen
|
|
Title:
|
Chief
Financial Officer
|
|
|
|
Dated: August 30, 2021
|
|
|
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