Report of Foreign Issuer (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 2018

Commission File Number: 001-34541

CHINA CORD BLOOD CORPORATION

(Translation of registrant’s name into English)

48 th 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

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o

No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .

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 China 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: 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 (including the relaxation of China’s one child policy) 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 industry developments affecting issuers that have pursued a “reverse merger” with an operating company based in the PRC, the presence of a new majority shareholder, 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, 2017 of the Company.

CHINA CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31 and December 31, 2017

	March 31,		December 31,
	2017		2017
	RMB		RMB		US$
	(in thousands except per share data)

ASSETS
Current assets
Cash and cash equivalents	3,510,264		4,078,303		626,823
Accounts receivable, less allowance for doubtful accounts (March 31, 2017: RMB46,858; December 31, 2017: RMB52,036 (US$7,998))	112,533		108,908		16,739
Inventories	30,987		35,270		5,420
Prepayments and other receivables - Third parties	17,524		23,262		3,576
Prepayments and other receivables - Related parties	—		2,284		351
Total current assets	3,671,308		4,248,027		652,909
Property, plant and equipment, net	551,434		556,757		85,572
Non-current deposits - Third parties	237,487		222,633		34,218
Non-current deposits - Related party	—		8,500		1,306
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2017: RMB70,744; December 31, 2017: RMB65,922 (US$10,132))	135,148		111,053		17,069
Inventories	68,775		70,854		10,890
Intangible assets, net	106,686		103,221		15,865
Available-for-sale equity securities	200,790		162,628		24,995
Other investment	189,129		189,129		29,069
Deferred tax assets	22,155		23,701		3,643
Total assets	5,182,912		5,696,503		875,536

LIABILITIES
Current liabilities
Convertible notes, net	1,031,154		—		—
Accounts payable	11,060		13,535		2,080
Accrued expenses and other payables	65,162		76,630		11,778
Deferred revenue	323,690		359,545		55,261
Amount due to a related party	4,679		—		—
Income tax payable	11,383		8,309		1,277
Total current liabilities	1,447,128		458,019		70,396
Non-current deferred revenue	1,569,579		1,809,408		278,101
Other non-current liabilities	302,233		346,738		53,292
Deferred tax liabilities	21,423		20,864		3,207
Total liabilities	3,340,363		2,635,029		404,996

EQUITY
Shareholders’ equity of China Cord Blood Corporation
Ordinary shares
- US$0.0001 par value, 250,000,000 shares authorized, 73,140,147 shares issued and 73,003,248 shares outstanding as of March 31, 2017 and 113,661,641 shares issued and 113,524,742 shares outstanding as of December 31, 2017	50		78		12
Additional paid-in capital	936,417		2,006,694		308,424
Treasury stock, at cost (March 31 and December 31, 2017: 136,899 shares, respectively)	(2,815	)	(2,815	)	(433	)
Accumulated other comprehensive income/(loss)	24,428		(35,744	)	(5,494	)
Retained earnings	879,775		1,086,359		166,970
Total equity attributable to China Cord Blood Corporation	1,837,855		3,054,572		469,479
Non-controlling interests	4,694		6,902		1,061
Total equity	1,842,549		3,061,474		470,540
Total liabilities and equity	5,182,912		5,696,503		875,536

CHINA CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months and Nine Months Ended December 31, 2016 and 2017

	Three months ended December 31,						Nine months ended December 31,
	2016		2017				2016		2017
	RMB		RMB		US$		RMB		RMB		US$
	(in thousands except per share data)

Revenues	200,888		244,993		37,654		557,980		703,787		108,170
Direct costs	(25,100	)	(46,826	)	(7,197	)	(101,621	)	(137,252	)	(21,095	)
Gross profit	175,788		198,167		30,457		456,359		566,535		87,075
Operating (expenses)/income, net
Research and development	(2,890	)	(2,930	)	(450	)	(7,216	)	(9,273	)	(1,425	)
Sales and marketing	(46,965	)	(59,947	)	(9,214	)	(124,799	)	(159,549	)	(24,522	)
General and administrative	(50,579	)	(56,910	)	(8,747	)	(142,111	)	(160,044	)	(24,598	)
Other operating income	26,316		—		—		26,316		—		—
Total operating expenses, net	(74,118	)	(119,787	)	(18,411	)	(247,810	)	(328,866	)	(50,545	)
Operating income	101,670		78,380		12,046		208,549		237,669		36,530
Other (expenses)/income, net
Interest income	4,307		5,416		832		13,022		16,033		2,464
Interest expense	(30,594	)	—		—		(89,228	)	(3,257	)	(501	)
Foreign currency exchange gains	—		7		1		120		118		18
Dividend income	45		634		97		45		634		97
Impairment loss on available-for-sale equity securities	(2,533	)	—		—		(2,533	)	—		—
Others	371		1,405		216		1,099		3,547		545
Total other (expenses)/income, net	(28,404	)	7,462		1,146		(77,475	)	17,075		2,623
Income before income tax	73,266		85,842		13,192		131,074		254,744		39,153
Income tax expense	(17,192	)	(15,639	)	(2,404	)	(41,507	)	(45,885	)	(7,052	)
Net income	56,074		70,203		10,788		89,567		208,859		32,101
Net income attributable to non-controlling interests	(187	)	(349	)	(54	)	(1,317	)	(2,275	)	(350	)
Net income attributable to China Cord Blood Corporation’s shareholders	55,887		69,854		10,734		88,250		206,584		31,751

Earnings per share:
Attributable to ordinary shares
- Basic	0.70		0.61		0.09		1.14		1.83		0.28
- Diluted	0.70		0.61		0.09		1.14		1.83		0.28

Other comprehensive losses, net of nil income taxes
- Foreign currency translation adjustments	(19,514	)	(12,961	)	(1,992	)	(27,874	)	(33,068	)	(5,082	)
- Unrealized holding (losses)/gains in available-for-sale equity securities
- Unrealized holding (losses)/gains arising during the period	(38,117	)	3,383		520		(55,094	)	(27,104	)	(4,166	)
- Reclassification adjustment for losses included in net income	2,533		—		—		2,533		—		—
Total other comprehensive losses	(55,098	)	(9,578	)	(1,472	)	(80,435	)	(60,172	)	(9,248	)
Comprehensive income	976		60,625		9,316		9,132		148,687		22,853

Comprehensive income attributable to non-controlling interests	(187	)	(349	)	(54	)	(1,317	)	(2,275	)	(350	)
Comprehensive income attributable to China Cord Blood Corporation’s shareholders	789		60,276		9,262		7,815		146,412		22,503

Other Events

On February 26, 2018, the Company issued a press release announcing unaudited condensed consolidated financial results for the three months and nine months ended December 31, 2017. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.		Description

99.1		Press Release dated February 26, 2018

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.