6-K/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K/A

(Amendment No. 1)

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

For the month of December 2015

Commission File Number: 001-34541

CHINA 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

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 ¨ No ý

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

EXPLANATORY NOTE

This Amendment No. 1 (the “Amendment”) to the Report of Foreign Private Issuer on Form 6-K (the “Original 6-K”), originally furnished by China Cord Blood Corporation (the “Company”) to the Securities and Exchange Commission on November 23, 2015, amends the Original 6-K to include an unaudited condensed consolidated statement of changes in equity, an unaudited condensed consolidated statements of cash flows, and notes to the unaudited condensed consolidated financial statements and the applicable interactive data file as Exhibit 101, which provides the unaudited condensed consolidated financial statements in XBRL (eXtensible business reporting language), and to provide for the incorporation by reference described below. No other changes have been made to the Original 6-K. This Amendment does not reflect events that may have occurred subsequent to the original submission date and does not modify or update in any way the disclosures made in the Original 6-K.

This Amendment and each of the exhibits to this Amendment are hereby incorporated by reference into the registration statements on Form F-3 (No. 333-191121 and No. 333-183143) of the Company.

This Amendment 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 the Company’s 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 Amendment 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 this Amendment is filed, and the Company does not intend to update any of the forward-looking statements after the date this Amendment is filed to conform these statements to actual results, unless required by law.

The forward-looking statements included in this Amendment 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 October 2015 revision to 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 implementing 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, as well as general economic conditions; compliance with restrictive debt covenants under the Company’s senior convertible notes; the non-binding proposal letters from Golden Meditech Holdings Limited and Nanjing Xinjiekou Department Store Co., Ltd.; and other relevant risks detailed in the Company’s filings with the Securities and Exchange Commission in the United States.

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Results of Operations and Financial Condition

Following this cover page are the unaudited condensed consolidated financial results for the three months and six months ended September 30, 2015 of the Company.

3

China Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Balance Sheets

(Amounts expressed in thousands)

		March 31,	September 30,
	Note	2015	2015	2015
		RMB	RMB	US$
ASSETS
Current assets
Cash and cash equivalents		2,436,655	2,671,772	420,382
Trading securities		7,708	7,861	1,237
Accounts receivable, less allowance for doubtful accounts (March 31, 2015: RMB28,624; September 30, 2015: RMB33,073 (US$5,204))		120,762	124,978	19,664
Inventories		23,803	29,126	4,583
Prepaid expenses and other receivables		19,508	17,773	2,797
Debt issuance costs	5	3,592	3,737	588
Deferred tax assets		10,270	11,874	1,868
Total current assets		2,622,298	2,867,121	451,119
Property, plant and equipment, net	3	603,167	590,061	92,841
Non-current deposits		207,258	215,601	33,923
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2015: RMB55,211; September 30, 2015: RMB56,422 (US$8,878))		194,238	182,265	28,677
Inventories		58,224	61,375	9,657
Intangible assets, net		115,928	113,618	17,877
Available-for-sale equity securities		122,416	146,016	22,974
Other investment		189,129	189,129	29,758
Debt issuance costs	5	4,210	2,507	394
Deferred tax assets		2,618	2,212	348
Total assets		4,119,486	4,369,905	687,568
LIABILITIES
Current liabilities
Bank loan	4	60,000	—	—
Accounts payable		12,673	15,987	2,515
Accrued expenses and other payables		87,381	62,447	9,826
Deferred revenue		220,140	247,837	38,995
Amounts due to related parties		20,802	45,428	7,148
Income tax payable		10,081	11,765	1,851
Deferred tax liabilities		9,100	11,700	1,841
Total current liabilities		420,177	395,164	62,176
Convertible notes	5	815,851	873,181	137,388
Non-current deferred revenue		1,099,399	1,223,559	192,517
Other non-current liabilities		215,585	237,905	37,432
Deferred tax liabilities		25,261	24,356	3,832
Total liabilities		2,576,273	2,754,165	433,345

4

China Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Balance Sheets (Continued)

(Amounts expressed in thousands, except share data)

	March 31,		September 30,
	2015		2015		2015
	RMB		RMB		US$
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 and September 30, 2015, respectively	50		50		8
Additional paid-in capital	814,678		843,626		132,737
Treasury stock, at cost (March 31 and September 30, 2015: 136,899 shares, respectively)	(2,815	)	(2,815	)	(443	)
Accumulated other comprehensive income	63,230		74,358		11,700
Retained earnings	662,615		694,889		109,335
Total equity attributable to China Cord Blood Corporation	1,537,758		1,610,108		253,337
Non-controlling interests	5,455		5,632		886
Total equity	1,543,213		1,615,740		254,223
Commitments and contingencies	—		—		—
Total liabilities and equity	4,119,486		4,369,905		687,568

See accompanying notes to the unaudited condensed consolidated financial statements.

5

China Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Statements of Comprehensive Income

(Amounts expressed in thousands, except per share data)

		Three months ended September 30,						Six months ended September 30,
	Note	2014		2015		2015		2014		2015		2015
		RMB		RMB		US$		RMB		RMB		US$
Revenues		152,122		171,484		26,982		305,453		336,847		53,000
Direct costs		(30,348	)	(37,240	)	(5,859	)	(60,124	)	(73,813	)	(11,614	)
Gross profit		121,774		134,244		21,123		245,329		263,034		41,386
Operating expenses
Research and development		(2,330	)	(2,153	)	(339	)	(4,829	)	(4,087	)	(643	)
Sales and marketing		(30,953	)	(36,966	)	(5,816	)	(62,696	)	(74,175	)	(11,671	)
General and administrative		(31,028	)	(42,647	)	(6,710	)	(60,174	)	(83,867	)	(13,196	)
Total operating expenses		(64,311	)	(81,766	)	(12,865	)	(127,699	)	(162,129	)	(25,510	)
Operating income		57,463		52,478		8,258		117,630		100,905		15,876
Other expense, net
Interest income		4,704		4,387		690		8,970		9,097		1,431
Interest expense		(25,209	)	(26,301	)	(4,138	)	(50,104	)	(52,184	)	(8,211	)
Exchange loss		(182	)	(152	)	(24	)	(2	)	(193	)	(30	)
Dividend income		—		10,020		1,577		1,196		11,200		1,762
Impairment loss on available-for-sale equity securities	6	—		(8,361	)	(1,316	)	—		(8,361	)	(1,316	)
Others		680		(328	)	(52	)	1,297		(239	)	(38	)
Total other expense, net		(20,007	)	(20,735	)	(3,263	)	(38,643	)	(40,680	)	(6,402	)
Income before income tax		37,456		31,743		4,995		78,987		60,225		9,474
Income tax expense	7	(10,214	)	(12,785	)	(2,012	)	(22,151	)	(27,774	)	(4,369	)
Net income		27,242		18,958		2,983		56,836		32,451		5,105
Net income attributable to non-controlling interests		7		(235	)	(37	)	149		(177	)	(28	)
Net income attributable to China Cord Blood Corporation’s shareholders		27,249		18,723		2,946		56,985		32,274		5,077
Net income per share:
Attributable to ordinary shares	8
- Basic		0.35		0.25		0.04		0.72		0.44		0.07
- Diluted		0.35		0.25		0.04		0.72		0.44		0.07
Other comprehensive income
- Net effect of foreign currency translation, net of nil tax		913		(15,797	)	(2,486	)	1,442		(15,238	)	(2,398	)
- Net unrealized (loss)/gain in available-for-sale equity securities, net of nil tax
- Unrealized (loss)/gain arising during the period		(8,818	)	7,145		1,124		(4,312	)	18,005		2,832
- Reclassification adjustment for losses included in net income		—		8,361		1,316		—		8,361		1,316
Comprehensive income		19,337		18,667		2,937		53,966		43,579		6,855
Comprehensive income attributable to non-controlling interests		7		(235	)	(37	)	149		(177	)	(28	)
Comprehensive income attributable to China Cord Blood Corporation’s shareholders		19,344		18,432		2,900		54,115		43,402		6,827

See accompanying notes to the unaudited condensed consolidated financial statements.

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China Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Statement of Changes in Equity

(Amounts expressed in thousands, except share data)

	China Cord Blood Corporation shareholders
											Accumulated
	Share capital			Additional		Treasury stock					other				Non-
	No. of			paid-in		No. of					comprehensive		Retained		controlling		Total
	shares	Amount		capital		shares		Amount			income		earnings		interests		equity
		RMB		RMB				RMB			RMB		RMB		RMB		RMB
Balance as of April 1, 2015	73,140,147	50		814,678		(136,899	)	(2,815		)	63,230		662,615		5,455		1,543,213
Net income	—	—		—		—		—			—		32,274		177		32,451
Other comprehensive income	—	—		—		—		—			11,128		—		—		11,128
Share-based compensation	—	—		28,948		—		—			—		—		—		28,948
Balance as of September 30, 2015	73,140,147	50		843,626		(136,899	)	(2,815		)	74,358		694,889		5,632		1,615,740
Balance as of September 30, 2015 - US$		$	8	$	132,737			$	(443	)	$	11,700	$	109,335	$	886	$	254,223

See accompanying notes to the unaudited condensed consolidated financial statements.

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China Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Statements of Cash Flows

(Amounts expressed in thousands)

	Six months ended September 30,
	2014		2015		2015
	RMB		RMB		US$
Cash flows from operating activities:
Net cash provided by operating activities	295,691		298,632		46,987
Cash flows from investing activities:
Purchase of property, plant and equipment	(22,407	)	(9,643	)	(1,517	)
Proceeds from disposal of property, plant and equipment	12		113		18
Net cash used in investing activities	(22,395	)	(9,530	)	(1,499	)
Cash flows from financing activities:
Repayments of bank loan	(60,000	)	(60,000	)	(9,440	)
Proceeds from bank loan	60,000		—		—
Net cash used in financing activities	—		(60,000	)	(9,440	)
Effect of foreign currency exchange rate change on cash and cash equivalents	330		6,015		947
Net increase in cash and cash equivalents	273,626		235,117		36,995
Cash and cash equivalents at beginning of period	1,882,901		2,436,655		383,387
Cash and cash equivalents at end of period	2,156,527		2,671,772		420,382
Supplemental disclosures of cash flow information:
Cash paid for income taxes	23,680		25,593		4,027
Cash refund for income taxes	18,279		—		—
Cash paid for interest, net of capitalized interest	28,268		27,948		4,397

See accompanying notes to the unaudited condensed consolidated financial statements.

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Notes to the unaudited condensed consolidated financial statements

(Amounts expressed in thousands, except share data)

1Principal activities and basis of presentation

(a)Principal activities

China Cord Blood Corporation (the “Company”) and its subsidiaries (collectively the “Group”) are principally engaged in the provision of umbilical cord blood storage and ancillary services in the People’s Republic of China (the “PRC”). As of September 30, 2015, the Group has three operating cord blood banks in the Beijing municipality, the Guangdong province and the Zhejiang province, the PRC. The Company’s shares are listed on the New York Stock Exchange.

The Group provides cord blood testing, processing and storage services under the direction of subscribers for a cord blood processing fee and a storage fee. The Group also tests, processes and stores donated cord blood, and provides matching services to the public for a fee.

(b)Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The condensed consolidated balance sheet as of March 31, 2015 was derived from the audited consolidated financial statements of the Company. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the March 31, 2015 audited consolidated financial statements of the Company included in the Company’s annual report on Form 20-F for the year ended March 31, 2015.

In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the financial position as of September 30, 2015, the results of operations for the three and six months ended September 30, 2014 and 2015, and cash flows for the six months ended September 30, 2014 and 2015 have been made.

For the convenience of the readers, certain amounts as of and for the three and six months ended September 30, 2015 included in the accompanying unaudited condensed consolidated financial statements have been translated into U.S. dollars at the rate of US$1.00 = RMB6.3556, being the spot exchange rate of U.S. dollars in effect on September 30, 2015 for cable transfers in RMB per U.S. dollar as certified for customs purposes by the Federal Reserve, the central bank of the United States of America. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at that rate or at any other rate on September 30, 2015 or at any other date.

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2Summary of significant accounting policies

(a)Principles of consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company and its majority-owned subsidiaries. For consolidated subsidiaries where the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as non-controlling interests. All significant intercompany balances and transactions have been eliminated in consolidation. The Company has no involvement with variable interest entities.

(b)Use of estimates

The preparation of the consolidated financial statements, in accordance with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the establishment of the selling prices of multiple deliverables in revenue arrangements, the estimation of direct costs for the provision of donated cord blood for transplantation and research, the useful lives of property, plant and equipment and intangible assets, the valuation allowances for receivables and deferred tax assets, the realizability of inventories and the fair values of share-based compensation.

3Property, plant and equipment, net

Property, plant and equipment, net consist of the following:

	March 31,		September 30,
	2015		2015		2015
	RMB		RMB		US$
Buildings	581,252		581,508		91,495
Leasehold improvements	14,864		14,864		2,339
Machineries	137,811		146,636		23,072
Motor vehicles	15,209		15,505		2,440
Furniture, fixtures and equipment	40,132		40,205		6,326
Construction-in-progress	4,283		1,706		268
	793,551		800,424		125,940
Less: Accumulated depreciation	(190,384	)	(210,363	)	(33,099	)
Total property, plant and equipment, net	603,167		590,061		92,841

Depreciation expense related to property, plant and equipment for the three months ended September 30, 2014 and 2015 was RMB12,146 and RMB11,420 (US$1,797), respectively. Depreciation expense related to property, plant and equipment for the six months ended September 30, 2014 and 2015 was RMB22,398 and RMB22,593 (US$3,554), respectively.

As of March 31, 2015, buildings with carrying value of RMB107,509 were collateralized for a short-term bank loan of RMB60,000 (Note 4).

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4Bank loan

On August 25, 2014, the Group borrowed RMB60,000 from Hangzhou Bank for one year. The loan bears a monthly fixed interest rate at 0.6%. The Group repaid the bank loan in full on August 24, 2015.

5Convertible notes

On April 27 and October 3, 2012, the Company completed the sale of US$65,000 and US$50,000 in aggregate principal amount of 7% senior unsecured convertible notes to Brilliant China Healthcare Investment Limited (formerly known as KKR China Healthcare Investment Limited) (“BCHIL”) (the “KKR Notes”) and Golden Meditech Holdings Limited (“GMHL”) (the “GM Notes,” and collectively the “Notes”), respectively.

In November 2014, GMHL completed the sale of US$50,000 in aggregate principal amount of GM Notes to Magnum Opus International Holdings Limited (“Magnum”), a private vehicle that is controlled by the Company’s chairman, and Cordlife Group Limited (“CGL”), for a total consideration of US$88,090. As a result, the holders of the GM Notes became Magnum and CGL and each of them holds US$25,000 of the GM Notes. All terms and conditions of the GM Notes remained the same after the transfer from GMHL to Magnum and CGL, except for the change of the holder’s name on the GM Notes and the denomination of the GM Notes from US$50,000 to US$25,000.

In August 2015, BCHIL transferred the KKR Notes to Excellent China Healthcare Investment Limited (“ECHIL”). On the same day, Magnum Opus 2 International Holdings Limited (“MO2”), an entity wholly owned by the Company’s chairman, acquired all the issued and outstanding shares of ECHIL. The total purchase price of ECHIL’s issued and outstanding shares was US$161,784. As a result, MO2 indirectly holds the KKR Notes through its wholly owned subsidiary, ECHIL.

The carrying amounts of the Notes are summarized in the following table:

	March 31,	September 30,
	2015	2015	2015
	RMB	RMB	US$
Principal amount of the KKR Notes	400,175	416,298	65,502
Principal amount of the GM Notes	307,828	320,229	50,385
Cumulative interest payable	107,848	136,654	21,501
Carrying amount	815,851	873,181	137,388

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The Company accrued interest on the Notes based on the guaranteed 12% internal rate of return per annum. The difference between the accrued interest rate of 12% and the coupon rate of 7% of the Notes is recorded in convertible notes in the unaudited condensed consolidated balance sheets. Debt issuance costs capitalized in connection with the issuance of the Notes are amortized from the date the Notes were issued to the earliest date the holders of the Notes can demand payment, which is five years.

Interest expense relating to the Notes is as follows:

	Three months ended September 30,			Six months ended September 30,
	2014	2015	2015	2014	2015	2015
	RMB	RMB	US$	RMB	RMB	US$
KKR Notes interest incurred	13,488	14,481	2,279	26,638	28,217	4,440
GM Notes interest incurred	9,843	10,540	1,658	19,587	20,696	3,256
Amortization of debt issuance costs	912	927	146	1,814	1,821	287
Total interest expense	24,243	25,948	4,083	48,039	50,734	7,983

6Impairment loss on available-for-sale equity securities

The Group recorded an impairment loss on available-for-sale equity securities of RMB8,361 (US$1,316) in the three and six months ended September 30, 2015, which related to the Group’s investment in Life Corporation Limited (“LFC”). Having considered the extent of the decline in the fair value of the ordinary shares of LFC, the length of time to which the market value of the shares had been below cost, and the financial condition and near-term prospects of LFC, the management considered that the decline in value on the investment in LFC up to September 30, 2015 was other-than-temporary. As a result, an impairment loss of RMB8,361 (US$1,316) was recognized in earnings during the three months ended September 30, 2015.

7Income tax

The Company’s PRC subsidiaries are subject to PRC statutory income tax rate of 25% unless otherwise specified.

In February 2012, Beijing Jiachenhong Biological Technologies Co., Ltd. (“Beijing Jiachenhong”) received approval from the tax authority on the renewal of its High and New Technology Enterprise (“HNTE”) status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2011 to December 31, 2013. In January 2015, Beijing Jiachenhong received approval from the tax authority on the renewal of its HNTE status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2014 to December 31, 2016.

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In June 2011, Guangzhou Municipality Tianhe Nuoya Bio-engineering Co., Ltd. (“Guangzhou Nuoya”) received approval from the tax authority that it qualified as a HNTE which entitled it to the preferential income tax rate of 15% effective retrospectively from January 1, 2010 to December 31, 2012. In April 2014, Guangzhou Nuoya received approval from the tax authority on the renewal of its HNTE status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2013 to December 31, 2015.

The Enterprise Income Tax law and its implementation rules impose a withholding tax at 10%, unless reduced by a tax treaty or agreement, for dividends receivable by non-PRC-resident enterprises from PRC-resident enterprises in respect of earnings accumulated beginning on January 1, 2008. As of March 31 and September 30, 2015, the Company has provided RMB9,100 and RMB11,700 (US$1,841), respectively, for withholding income tax on a portion of the undistributed earnings of its PRC subsidiaries that are expected to be distributed. No income taxes were provided for the remaining undistributed earnings which are intended to be invested indefinitely in the PRC. As of September 30, 2015, such unremitted earnings that may be subject to the withholding tax amounted to RMB1,058,252 (US$166,507) and the related unrecognized deferred tax liability was RMB105,825 (US$16,651).

The Company’s effective income tax rates for the three months ended September 30, 2014 and 2015 were 27.3% and 40.3%, and were 28.0% and 46.1% for the six months ended September 30, 2014 and 2015, respectively. The effective income tax rates for the three and six months ended September 30, 2014 and 2015 differ from the PRC statutory income tax rate of 25% primarily due to the effect of withholding tax and the effect of non-PRC entities not being subject to income tax, which is offset by the effect of Beijing Jiachenhong and Guangzhou Nuoya’s preferential tax treatments.

As of and for the six months ended September 30, 2015, the Company did not have any material unrecognized tax benefits and thus no interest and penalties related to unrecognized tax benefits were recorded. In addition, the Company does not expect that the amount of unrecognized tax benefits will change significantly within the next twelve months.

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8Net income per share

The following table sets forth the computation of basic net income per share and diluted net income per share for the three and six months ended September 30, 2014 and 2015 respectively:

		Three months ended September 30,
	Note	2014		2015	2015
		RMB		RMB	US$
Numerator:
Net income attributable to the Company’s shareholders		27,249		18,723	2,946
Earnings allocated to participating convertible notes	(i)	(1,638	)	—	—
Net income for basic and diluted net income per share		25,611		18,723	2,946
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248
Net income per share attributable to ordinary shares:
- Basic		0.35		0.25	0.04
- Diluted	(ii)	0.35		0.25	0.04

		Six months ended September 30,
	Note	2014		2015	2015
		RMB		RMB	US$
Numerator:
Net income attributable to the Company’s shareholders		56,985		32,274	5,077
Earnings allocated to participating convertible notes	(i)	(4,246	)	—	—
Net income for basic and diluted net income per share		52,739		32,274	5,077
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248
Net income per share attributable to ordinary shares:
- Basic		0.72		0.44	0.07
- Diluted	(ii)	0.72		0.44	0.07

Notes:

(i)

The Notes provide each holder with the ability to participate in any excess cash dividend. Excess cash dividend means any cash dividend to holders of shares that, together with all other cash dividends previously paid to holders of shares in the same financial year, exceeds, on a per share basis, an amount equal to the interest that has accrued and shall accrue at 7% coupon interest rate in such financial year divided by the number of shares into which the Notes are convertible at the conversion price then in effect on the relevant record date. Therefore, net income attributable to the Company’s shareholders is reduced by such allocated earnings to participating convertible notes for each reporting period in both basic and diluted net income per share computation.

(ii)

During the three and six months ended September 30, 2014 and 2015, the Company had potentially dilutive ordinary shares of 40,521,495 respectively, representing shares issuable upon conversion of the Notes (Note 5). Such potentially dilutive ordinary shares were excluded from diluted net income per share computation because their effects would have been anti-dilutive.

14

9Subsequent events

In October 2015, GMHL completed an open offer of the sale of its shares (the “Open Offer”) for the purpose of acquiring US$50,000 in principal amount of the Notes and 7,314,015 ordinary shares of the Company held by CGL (the “CGL Sale Shares”). The total proceeds from the Open Offer amounted to approximately HK$985,696 (before expenses in relation to the Open Offer). In October and November 2015, GMHL applied a portion of the net proceeds from the Open Offer for the purchase of US$25,000 in principal amount of the Notes and the CGL Sale Shares and the Company has been informed that GMHL currently intends to apply the remaining net proceeds to acquire the other US$25,000 in aggregate principal amount of the Notes.

In November 2015, GMHL and Nanjing Xinjiekou Department Store Co., Ltd. (“Nanjing Xinjiekou”) entered into a non-binding framework purchase agreement (the “MOU”). Pursuant to the MOU, Nanjing Xinjiekou proposed to (i) acquire from GMHL an aggregate of 47,835,509 ordinary shares of the Company (comprising ordinary shares to be issued upon conversion of all outstanding Notes and the CGL Sale Shares) and 30,681,266 ordinary shares of the Company currently held by GMHL, which in the aggregate would represent approximately 65.1% of the enlarged issued share capital of the Company (the “Minimum Company Shares”); and (ii) provide assistance, including possible financing, to GMHL in its proposed “going private” transaction involving the Company. The total consideration for the possible disposal of the Minimum Company Shares to Nanjing Xinjiekou by GMHL (the “Total Consideration”) is subject to further negotiation between GMHL and Nanjing Xinjiekou with reference to the valuation of the Minimum Company Shares, which is preliminarily expected to be not less than RMB7,255,000 (the “Expected Valuation”).

The Total Consideration is proposed to be settled by Nanjing Xinjiekou issuing its new shares (the “Settlement Shares”) representing an amount of not less than RMB4,000,000 and the remaining RMB3,255,000 of the Total Consideration being settled in cash, resulting in cash consideration of approximately RMB41.4 per Minimum Company Share (approximately US$6.5 per Minimum Company Share).

The proposed disposal of the Minimum Company Shares to Nanjing Xinjiekou and the agreement on the Expected Valuation by Nanjing Xinjiekou are conditional upon (i) Nanjing Xinjiekou acquiring the Minimum Sale Shares upon completion of the proposed “going private” transaction of the Company by GMHL; (ii) GMHL undertaking not to transfer the Settlement Shares for a period of 36 months; (iii) GMHL taking effective steps to ensure that the Company’s management does not resign in a 36 months’ period; and (iv) GMHL providing a conditional undertaking to Nanjing Xinjiekou with respect to the Company achieving certain profit targets in calendar years 2015, 2016 and 2017, including providing compensation to Nanjing Xinjiekou with respect to any profit shortfall.

15

The proposed disposal of the Minimum Company Shares to Nanjing Xinjiekou by GMHL and the agreement on the Expected Valuation by GMHL are conditional upon (i) Nanjing Xinjiekou providing financing to GMHL in respect of GMHL’s proposed “going private” transaction of the Company, if requested by GMHL and subject to agreement between the parties; (ii) neither the appraised value of the Minimum Company Shares nor the Total Consideration would be less than RMB7,255,000; (iii) the market value of the Settlement Shares at the relevant price determination date will not be less than RMB4,000,000 and RMB3,255,000 of the Total Consideration will be settled in cash; (iv) Nanjing Xinjiekou maintains its listing status on the Shanghai Stock Exchange; and (v) Nanjing Xinjiekou will not change the strategy or business model of the Company for a period of 36 months from the date of completion of the proposed disposal.

In addition to the Minimum Company Shares, Nanjing Xinjiekou has indicated that it also intends to acquire the remaining 34.9% of the Company’s ordinary shares owned by other shareholders of the Company. Nanjing Xinjiekou proposed a preliminary valuation of RMB1,745,000 for such shares, representing a valuation of approximately RMB41.4 per ordinary share (approximately US$6.5 per ordinary share).

The MOU is effective until May 2016 and GMHL has agreed not to enter into any discussions, negotiations or transactions with any party other than Nanjing Xinjiekou in relation to the sale or disposition of the Minimum Company Shares during the term of the MOU.

As of the date of this report, no decisions have been made with respect to the Company’s response to the non-binding proposals received from GMHL and Nanjing Xinjiekou in April 2015 and August 2015, respectively, and there cannot be any assurance as to when, if ever, or on what terms any potential transaction will be consummated.

16

Other Events

On November 23, 2015, the Company issued a press release announcing preliminary unaudited condensed consolidated financial results for the three months and six months ended September 30, 2015. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.	Description
99.1 *	Press Release, dated November 23, 2015
101.INS XBRL	Instance Document
101.SCH XBRL	Taxonomy Extension Schema Document
101.CAL XBRL	Taxonomy Extension Calculation Linkbase Document
101.DEF XBRL	Taxonomy Extension Definition Linkbase Document
101.LAB XBRL	Taxonomy Extension Label Linkbase Document
101.PRE XBRL	Taxonomy Extension Presentation Linkbase Document

* Previously filed

17

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.

	CHINA CORD BLOOD CORPORATION
	By:	/s/ Albert Chen
	Name:	Albert Chen
	Title:	Chief Financial Officer
Dated: December 11, 2015

18

XML

Summary of significant accounting policies

6 Months Ended

Sep. 30, 2015

Summary of significant accounting policies

Summary of significant accounting policies

2Summary of significant accounting policies

(a)Principles of consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company and its majority-owned subsidiaries. For consolidated subsidiaries where the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as non-controlling interests. All significant intercompany balances and transactions have been eliminated in consolidation. The Company has no involvement with variable interest entities.

(b)Use of estimates

The preparation of the consolidated financial statements, in accordance with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the establishment of the selling prices of multiple deliverables in revenue arrangements, the estimation of direct costs for the provision of donated cord blood for transplantation and research, the useful lives of property, plant and equipment and intangible assets, the valuation allowances for receivables and deferred tax assets, the realizability of inventories and the fair values of share-based compensation.

XML

Income tax (Details) ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended		15 Months Ended	57 Months Ended	69 Months Ended
	Dec. 31, 2015	Sep. 30, 2015 USD ($)	Sep. 30, 2014	Sep. 30, 2015 CNY (¥)	Sep. 30, 2014	Dec. 31, 2016	Sep. 30, 2015 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Mar. 31, 2015 CNY (¥)
Income Tax
Effective income tax rate		40.30%	27.30%	46.10%	28.00%
Unremitted earnings that may be subject to the withholding tax		$ 166,507					$ 166,507	$ 166,507	¥ 1,058,252
Unrecognized deferred tax liability from unremitted earnings of PRC subsidiaries		16,651					16,651	16,651	105,825
Interest and penalties related to unrecognized tax benefits				¥ 0
PRC tax laws and rules
Income Tax
Statutory income tax rate				25.00%
Withholding tax rate				10.00%
PRC subsidiary
Income Tax
Provision for withholding tax		$ 1,841					$ 1,841	$ 1,841	¥ 11,700	¥ 9,100
PRC subsidiary | PRC tax laws and rules
Income Tax
Provision for income taxes on undistributed earnings				¥ 0
Beijing Jiachenhong
Income Tax
HNTE preferential tax rate							15.00%
Beijing Jiachenhong | Forecast
Income Tax
HNTE preferential tax rate						15.00%
Guangzhou Nuoya
Income Tax
HNTE preferential tax rate								15.00%
Guangzhou Nuoya | Forecast
Income Tax
HNTE preferential tax rate	15.00%

XML

Impairment loss on available-for-sale equity securities (Details) ¥ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)
Other than Temporary Impairment Losses, Investments [Abstract]
Impairment loss recognized in earnings	$ 1,316	¥ 8,361	$ 1,316	¥ 8,361

XML

Net income per share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015 USD ($) $ / shares shares	Sep. 30, 2015 CNY (¥) ¥ / shares shares	Sep. 30, 2014 CNY (¥) ¥ / shares shares	Sep. 30, 2015 USD ($) $ / shares shares	Sep. 30, 2015 CNY (¥) ¥ / shares shares	Sep. 30, 2014 CNY (¥) ¥ / shares shares
Numerator:
Net income attributable to the Company's shareholders	$ 2,946	¥ 18,723	¥ 27,249	$ 5,077	¥ 32,274	¥ 56,985
Net income for basic and diluted net income per share	$ 2,946	¥ 18,723	¥ 25,611	$ 5,077	¥ 32,274	¥ 52,739
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	73,003,248	73,003,248	73,003,248	73,003,248	73,003,248	73,003,248
Net income per share attributable to ordinary shares:
Basic | (per share)	$ 0.04	¥ 0.25	¥ 0.35	$ 0.07	¥ 0.44	¥ 0.72
Diluted | (per share)	$ 0.04	¥ 0.25	¥ 0.35	$ 0.07	¥ 0.44	¥ 0.72
Convertible Notes
Net income per share
Interest rate	7.00%	7.00%		7.00%	7.00%
Numerator:
Earnings allocated to participating convertible notes | ¥			¥ (1,638)			¥ (4,246)
Net income per share attributable to ordinary shares:
Anti-dilutive ordinary shares	40,521,495	40,521,495	40,521,495	40,521,495	40,521,495	40,521,495

XML

Subsequent events (Details) - Subsequent events ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, HKD in Thousands, $ in Thousands	1 Months Ended
	Nov. 30, 2015 USD ($) $ / shares shares	Nov. 30, 2015 CNY (¥) ¥ / shares shares	Oct. 31, 2015 HKD shares	Nov. 30, 2015 CNY (¥) ¥ / shares shares	Oct. 31, 2015 USD ($)
GMHL | Open Offer
Subsequent events
Acquiring the Notes, principal amount | $					$ 50,000
Total proceeds before expenses in relation to the Open Offer | HKD			HKD 985,696
Principal amount of the convertible Notes to be purchased | $	$ 25,000
GMHL | CGL
Subsequent events
Ordinary shares of the Company acquired, comprising ordinary shares to be issued upon conversion of all outstanding Notes and the CGL Sale Shares (in shares) | shares			7,314,015
GMHL | Forecast | Open Offer
Subsequent events
Principal amount of the convertible Notes to be purchased | $	$ 25,000
Nanjing Xinjiekou | Forecast | Other shareholders of the Company
Subsequent events
Remaining ordinary shares of the Company which Nanjing Xinjiekou intends to acquire (in percent)		34.90%
Preliminary valuation of the acquisition of the remaining 34.9% of the Company's ordinary shares owned by other shareholders of the Company				¥ 1,745,000
Preliminary valuation per ordinary share owned by other shareholders of the Company | (per share)	$ 6.5			¥ 41.4
MOU | Nanjing Xinjiekou | Forecast | GMHL
Subsequent events
Ordinary shares of the Company acquired, comprising ordinary shares to be issued upon conversion of all outstanding Notes and the CGL Sale Shares (in shares) | shares		47,835,509
Ordinary share of the Company currently held by GMHL (in shares) | shares	30,681,266			30,681,266
Percent of the Company's ordinary shares held	65.10%			65.10%
Expected Valuation for possible acquisition of the Minimum Company Shares		¥ 7,255,000
Cash consideration per Minimum Company Share | (per share)	$ 6.5	¥ 41.4
Period GMHL would not transfer the Settlement Shares		36 months
Period the Company's management would not resign		36 months
Period of not changing the strategy or business model of the acquiring company, from the date of completion of the proposed disposal		36 months
MOU | Nanjing Xinjiekou | Forecast | GMHL | Minimum
Subsequent events
Value of new shares issued to settle the Total Consideration		¥ 4,000,000
Cash to settle the Total Consideration		¥ 3,255,000

XML

Principal activities and basis of presentation

6 Months Ended

Sep. 30, 2015

Principal activities and basis of presentation

Principal activities and basis of presentation

1Principal activities and basis of presentation

(a)Principal activities

China Cord Blood Corporation (the “Company”) and its subsidiaries (collectively the “Group”) are principally engaged in the provision of umbilical cord blood storage and ancillary services in the People’s Republic of China (the “PRC”). As of September 30, 2015, the Group has three operating cord blood banks in the Beijing municipality, the Guangdong province and the Zhejiang province, the PRC. The Company’s shares are listed on the New York Stock Exchange.

The Group provides cord blood testing, processing and storage services under the direction of subscribers for a cord blood processing fee and a storage fee. The Group also tests, processes and stores donated cord blood, and provides matching services to the public for a fee.

(b)Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The condensed consolidated balance sheet as of March 31, 2015 was derived from the audited consolidated financial statements of the Company. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the March 31, 2015 audited consolidated financial statements of the Company included in the Company’s annual report on Form 20-F for the year ended March 31, 2015.

In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the financial position as of September 30, 2015, the results of operations for the three and six months ended September 30, 2014 and 2015, and cash flows for the six months ended September 30, 2014 and 2015 have been made.

For the convenience of the readers, certain amounts as of and for the three and six months ended September 30, 2015 included in the accompanying unaudited condensed consolidated financial statements have been translated into U.S. dollars at the rate of US$1.00 = RMB6.3556, being the spot exchange rate of U.S. dollars in effect on September 30, 2015 for cable transfers in RMB per U.S. dollar as certified for customs purposes by the Federal Reserve, the central bank of the United States of America. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at that rate or at any other rate on September 30, 2015 or at any other date.

XML

Unaudited Condensed Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Mar. 31, 2015 CNY (¥)
Current assets
Cash and cash equivalents	$ 420,382	¥ 2,671,772	¥ 2,436,655
Trading securities	1,237	7,861	7,708
Accounts receivable, less allowance for doubtful accounts (March 31, 2015: RMB28,624; September 30, 2015: RMB33,073 (US$5,204))	19,664	124,978	120,762
Inventories	4,583	29,126	23,803
Prepaid expenses and other receivables	2,797	17,773	19,508
Debt issuance costs	588	3,737	3,592
Deferred tax assets	1,868	11,874	10,270
Total current assets	451,119	2,867,121	2,622,298
Property, plant and equipment, net	92,841	590,061	603,167
Non-current deposits	33,923	215,601	207,258
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2015: RMB55,211; September 30, 2015: RMB56,422 (US$8,878))	28,677	182,265	194,238
Inventories	9,657	61,375	58,224
Intangible assets, net	17,877	113,618	115,928
Available-for-sale equity securities	22,974	146,016	122,416
Other investment	29,758	189,129	189,129
Debt issuance costs	394	2,507	4,210
Deferred tax assets	348	2,212	2,618
Total assets	687,568	4,369,905	4,119,486
Current liabilities
Bank loan			60,000
Accounts payable	2,515	15,987	12,673
Accrued expenses and other payables	9,826	62,447	87,381
Deferred revenue	38,995	247,837	220,140
Amounts due to related parties	7,148	45,428	20,802
Income tax payable	1,851	11,765	10,081
Deferred tax liabilities	1,841	11,700	9,100
Total current liabilities	62,176	395,164	420,177
Convertible notes	137,388	873,181	815,851
Non-current deferred revenue	192,517	1,223,559	1,099,399
Other non-current liabilities	37,432	237,905	215,585
Deferred tax liabilities	3,832	24,356	25,261
Total liabilities	433,345	2,754,165	2,576,273
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 and September 30, 2015, respectively	8	50	50
Additional paid-in capital	132,737	843,626	814,678
Treasury stock, at cost (March 31 and September 30, 2015: 136,899 shares, respectively)	(443)	(2,815)	(2,815)
Accumulated other comprehensive income	11,700	74,358	63,230
Retained earnings	109,335	694,889	662,615
Total equity attributable to China Cord Blood Corporation	253,337	1,610,108	1,537,758
Non-controlling interests	886	5,632	5,455
Total equity	$ 254,223	¥ 1,615,740	¥ 1,543,213
Commitments and contingencies
Total liabilities and equity	$ 687,568	¥ 4,369,905	¥ 4,119,486

XML

Unaudited Condensed Consolidated Statement of Changes in Equity - 6 months ended Sep. 30, 2015 ¥ in Thousands, $ in Thousands	Share capital USD ($) shares	Share capital CNY (¥) shares	Additional paid-in Capital USD ($)	Additional paid-in Capital CNY (¥)	Treasury stock USD ($) shares	Treasury stock CNY (¥) shares	Accumulated other comprehensive income USD ($)	Accumulated other comprehensive income CNY (¥)	Retained earnings USD ($)	Retained earnings CNY (¥)	Non-controlling interests USD ($)	Non-controlling interests CNY (¥)	USD ($) shares	CNY (¥) shares
Balance at Mar. 31, 2015		¥ 50		¥ 814,678		¥ (2,815)		¥ 63,230		¥ 662,615		¥ 5,455		¥ 1,543,213
Balance, shares at Mar. 31, 2015 | shares	73,140,147	73,140,147			(136,899)	(136,899)							73,003,248	73,003,248
Net income										32,274		177	$ 5,105	¥ 32,451
Other comprehensive income								11,128						11,128
Share-based compensation				28,948										28,948
Balance at Sep. 30, 2015	$ 8	¥ 50	$ 132,737	¥ 843,626	$ (443)	¥ (2,815)	$ 11,700	¥ 74,358	$ 109,335	¥ 694,889	$ 886	¥ 5,632	$ 254,223	¥ 1,615,740
Balance, shares at Sep. 30, 2015 | shares	73,140,147	73,140,147			(136,899)	(136,899)							73,003,248	73,003,248

XML

Property, plant and equipment, net (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Mar. 31, 2015 CNY (¥)
Property, Plant and Equipment
Property, plant and equipment	$ 125,940	¥ 800,424	¥ 793,551
Less: Accumulated depreciation	(33,099)	(210,363)	(190,384)
Total property, plant and equipment, net	92,841	590,061	603,167
Buildings
Property, Plant and Equipment
Property, plant and equipment	91,495	581,508	581,252
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment	2,339	14,864	14,864
Machineries
Property, Plant and Equipment
Property, plant and equipment	23,072	146,636	137,811
Motor vehicles
Property, Plant and Equipment
Property, plant and equipment	2,440	15,505	15,209
Furniture, fixtures and equipment
Property, Plant and Equipment
Property, plant and equipment	6,326	40,205	40,132
Construction-in-progress
Property, Plant and Equipment
Property, plant and equipment	$ 268	¥ 1,706	¥ 4,283

XML

Bank loan (Details) - Short-term bank loan ¥ in Thousands	Aug. 25, 2014 CNY (¥)
Bank loan
Amount borrowed	¥ 60,000
Term of the loan	1 year
Monthly fixed interest rate (as a percent)	0.60%

XML

Unaudited Condensed Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	6 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Sep. 30, 2014 CNY (¥)
Cash flows from operating activities:
Net cash provided by operating activities	$ 46,987	¥ 298,632	¥ 295,691
Cash flows from investing activities:
Purchase of property, plant and equipment	(1,517)	(9,643)	(22,407)
Proceeds from disposal of property, plant and equipment	18	113	12
Net cash used in investing activities	(1,499)	(9,530)	(22,395)
Cash flows from financing activities:
Repayments of bank loan	(9,440)	(60,000)	(60,000)
Proceeds from bank loan			60,000
Net cash used in financing activities	(9,440)	(60,000)
Effect of foreign currency exchange rate change on cash and cash equivalents	947	6,015	330
Net increase in cash and cash equivalents	36,995	235,117	273,626
Cash and cash equivalents at beginning of period	383,387	2,436,655	1,882,901
Cash and cash equivalents at end of period	420,382	2,671,772	2,156,527
Supplemental disclosures of cash flow information:
Cash paid for income taxes	4,027	25,593	23,680
Cash refund for income taxes			18,279
Cash paid for interest, net of capitalized interest	$ 4,397	¥ 27,948	¥ 28,268

XML

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Sep. 30, 2015 USD ($) $ / shares shares	Sep. 30, 2015 CNY (¥) shares	Mar. 31, 2015 $ / shares	Mar. 31, 2015 CNY (¥) shares
Unaudited Condensed Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts	$ 5,204	¥ 33,073		¥ 28,624
Non-current accounts receivable, allowance for doubtful accounts	$ 8,878	¥ 56,422		¥ 55,211
Ordinary shares, par value per share | $ / shares	$ 0.0001		$ 0.0001
Ordinary shares, shares authorized	250,000,000	250,000,000		250,000,000
Ordinary shares, shares issued	73,140,147	73,140,147		73,140,147
Ordinary shares, shares outstanding	73,003,248	73,003,248		73,003,248
Treasury stock, shares	136,899	136,899		136,899

XML

Summary of significant accounting policies (Policy)

6 Months Ended

Sep. 30, 2015

Summary of significant accounting policies

Principles of consolidation

(a)Principles of consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company and its majority-owned subsidiaries. For consolidated subsidiaries where the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as non-controlling interests. All significant intercompany balances and transactions have been eliminated in consolidation. The Company has no involvement with variable interest entities.

Use of estimates

(b)Use of estimates

The preparation of the consolidated financial statements, in accordance with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the establishment of the selling prices of multiple deliverables in revenue arrangements, the estimation of direct costs for the provision of donated cord blood for transplantation and research, the useful lives of property, plant and equipment and intangible assets, the valuation allowances for receivables and deferred tax assets, the realizability of inventories and the fair values of share-based compensation.

XML

Document and Entity Information	6 Months Ended
	Sep. 30, 2015
Document and Entity Information
Document Type	6-K/A
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Entity Registrant Name	China Cord Blood Corp
Entity Central Index Key	0001467808
Trading Symbol	CO
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes

XML

Property, plant and equipment, net (Tables)

6 Months Ended

Sep. 30, 2015

Property, plant and equipment, net

Schedule of Property, Plant and Equipment, Net

	March 31,		September 30,
	2015		2015		2015
	RMB		RMB		US$
Buildings	581,252		581,508		91,495
Leasehold improvements	14,864		14,864		2,339
Machineries	137,811		146,636		23,072
Motor vehicles	15,209		15,505		2,440
Furniture, fixtures and equipment	40,132		40,205		6,326
Construction-in-progress	4,283		1,706		268
	793,551		800,424		125,940
Less: Accumulated depreciation	(190,384	)	(210,363	)	(33,099	)
Total property, plant and equipment, net	603,167		590,061		92,841

XML

Unaudited Condensed Consolidated Statements of Comprehensive Income ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015 USD ($) $ / shares	Sep. 30, 2015 CNY (¥) ¥ / shares	Sep. 30, 2014 CNY (¥) ¥ / shares	Sep. 30, 2015 USD ($) $ / shares	Sep. 30, 2015 CNY (¥) ¥ / shares	Sep. 30, 2014 CNY (¥) ¥ / shares
Unaudited Condensed Consolidated Statements of Comprehensive Income
Revenues	$ 26,982	¥ 171,484	¥ 152,122	$ 53,000	¥ 336,847	¥ 305,453
Direct costs	(5,859)	(37,240)	(30,348)	(11,614)	(73,813)	(60,124)
Gross profit	21,123	134,244	121,774	41,386	263,034	245,329
Operating expenses
Research and development	(339)	(2,153)	(2,330)	(643)	(4,087)	(4,829)
Sales and marketing	(5,816)	(36,966)	(30,953)	(11,671)	(74,175)	(62,696)
General and administrative	(6,710)	(42,647)	(31,028)	(13,196)	(83,867)	(60,174)
Total operating expenses	(12,865)	(81,766)	(64,311)	(25,510)	(162,129)	(127,699)
Operating income	8,258	52,478	57,463	15,876	100,905	117,630
Other expense, net
Interest income	690	4,387	4,704	1,431	9,097	8,970
Interest expense	(4,138)	(26,301)	(25,209)	(8,211)	(52,184)	(50,104)
Exchange loss	(24)	(152)	(182)	(30)	(193)	(2)
Dividend income	1,577	10,020		1,762	11,200	1,196
Impairment loss on available-for-sale equity securities	(1,316)	(8,361)		(1,316)	(8,361)
Others	(52)	(328)	680	(38)	(239)	1,297
Total other expense, net	(3,263)	(20,735)	(20,007)	(6,402)	(40,680)	(38,643)
Income before income tax	4,995	31,743	37,456	9,474	60,225	78,987
Income tax expense	(2,012)	(12,785)	(10,214)	(4,369)	(27,774)	(22,151)
Net income	2,983	18,958	27,242	5,105	32,451	56,836
Net income attributable to non-controlling interests	(37)	(235)	7	(28)	(177)	149
Net income attributable to China Cord Blood Corporation's shareholders	$ 2,946	¥ 18,723	¥ 27,249	$ 5,077	¥ 32,274	¥ 56,985
Net income per share: Attributable to ordinary shares
Basic | (per share)	$ 0.04	¥ 0.25	¥ 0.35	$ 0.07	¥ 0.44	¥ 0.72
Diluted | (per share)	$ 0.04	¥ 0.25	¥ 0.35	$ 0.07	¥ 0.44	¥ 0.72
Other comprehensive income
Net effect of foreign currency translation, net of nil tax	$ (2,486)	¥ (15,797)	¥ 913	$ (2,398)	¥ (15,238)	¥ 1,442
Unrealized (loss)/gain arising during the period	1,124	7,145	(8,818)	2,832	18,005	(4,312)
Reclassification adjustment for losses included in net income	1,316	8,361		1,316	8,361
Comprehensive income	2,937	18,667	19,337	6,855	43,579	53,966
Comprehensive income attributable to non-controlling interests	(37)	(235)	7	(28)	(177)	149
Comprehensive income attributable to China Cord Blood Corporation's shareholders	$ 2,900	¥ 18,432	¥ 19,344	$ 6,827	¥ 43,402	¥ 54,115

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Convertible notes

6 Months Ended

Sep. 30, 2015

Convertible notes

Convertible notes

5Convertible notes

On April 27 and October 3, 2012, the Company completed the sale of US$65,000 and US$50,000 in aggregate principal amount of 7% senior unsecured convertible notes to Brilliant China Healthcare Investment Limited (formerly known as KKR China Healthcare Investment Limited) (“BCHIL”) (the “KKR Notes”) and Golden Meditech Holdings Limited (“GMHL”) (the “GM Notes,” and collectively the “Notes”), respectively.

In November 2014, GMHL completed the sale of US$50,000 in aggregate principal amount of GM Notes to Magnum Opus International Holdings Limited (“Magnum”), a private vehicle that is controlled by the Company’s chairman, and Cordlife Group Limited (“CGL”), for a total consideration of US$88,090. As a result, the holders of the GM Notes became Magnum and CGL and each of them holds US$25,000 of the GM Notes. All terms and conditions of the GM Notes remained the same after the transfer from GMHL to Magnum and CGL, except for the change of the holder’s name on the GM Notes and the denomination of the GM Notes from US$50,000 to US$25,000.

In August 2015, BCHIL transferred the KKR Notes to Excellent China Healthcare Investment Limited (“ECHIL”). On the same day, Magnum Opus 2 International Holdings Limited (“MO2”), an entity wholly owned by the Company’s chairman, acquired all the issued and outstanding shares of ECHIL. The total purchase price of ECHIL’s issued and outstanding shares was US$161,784. As a result, MO2 indirectly holds the KKR Notes through its wholly owned subsidiary, ECHIL.

The carrying amounts of the Notes are summarized in the following table:

	March 31,	September 30,
	2015	2015	2015
	RMB	RMB	US$
Principal amount of the KKR Notes	400,175	416,298	65,502
Principal amount of the GM Notes	307,828	320,229	50,385
Cumulative interest payable	107,848	136,654	21,501
Carrying amount	815,851	873,181	137,388

The Company accrued interest on the Notes based on the guaranteed 12% internal rate of return per annum. The difference between the accrued interest rate of 12% and the coupon rate of 7% of the Notes is recorded in convertible notes in the unaudited condensed consolidated balance sheets. Debt issuance costs capitalized in connection with the issuance of the Notes are amortized from the date the Notes were issued to the earliest date the holders of the Notes can demand payment, which is five years.

Interest expense relating to the Notes is as follows:

	Three months ended September 30,			Six months ended September 30,
	2014	2015	2015	2014	2015	2015
	RMB	RMB	US$	RMB	RMB	US$
KKR Notes interest incurred	13,488	14,481	2,279	26,638	28,217	4,440
GM Notes interest incurred	9,843	10,540	1,658	19,587	20,696	3,256
Amortization of debt issuance costs	912	927	146	1,814	1,821	287
Total interest expense	24,243	25,948	4,083	48,039	50,734	7,983

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Bank loan

6 Months Ended

Sep. 30, 2015

Bank loan

Bank loan

4Bank loan

On August 25, 2014, the Group borrowed RMB60,000 from Hangzhou Bank for one year. The loan bears a monthly fixed interest rate at 0.6%. The Group repaid the bank loan in full on August 24, 2015.

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Property, plant and equipment, net (Details 2) ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Sep. 30, 2014 CNY (¥)	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Sep. 30, 2014 CNY (¥)	Mar. 31, 2015 CNY (¥)
Property, Plant and Equipment
Depreciation expense	$ 1,797	¥ 11,420	¥ 12,146	$ 3,554	¥ 22,593	¥ 22,398
Bank loan							¥ 60,000
Buildings | Short-term bank loan
Property, Plant and Equipment
Carrying value of buildings collateralized for loans							107,509
Bank loan							¥ 60,000

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Convertible notes (Tables)

6 Months Ended

Sep. 30, 2015

Convertible notes

Schedule of Convertible Notes

	March 31,	September 30,
	2015	2015	2015
	RMB	RMB	US$
Principal amount of the KKR Notes	400,175	416,298	65,502
Principal amount of the GM Notes	307,828	320,229	50,385
Cumulative interest payable	107,848	136,654	21,501
Carrying amount	815,851	873,181	137,388

Schedule of Interest Expense Relating to the Notes

	Three months ended September 30,			Six months ended September 30,
	2014	2015	2015	2014	2015	2015
	RMB	RMB	US$	RMB	RMB	US$
KKR Notes interest incurred	13,488	14,481	2,279	26,638	28,217	4,440
GM Notes interest incurred	9,843	10,540	1,658	19,587	20,696	3,256
Amortization of debt issuance costs	912	927	146	1,814	1,821	287
Total interest expense	24,243	25,948	4,083	48,039	50,734	7,983

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Net income per share

6 Months Ended

Sep. 30, 2015

Net income per share

Net income per share

8Net income per share

The following table sets forth the computation of basic net income per share and diluted net income per share for the three and six months ended September 30, 2014 and 2015 respectively:

		Three months ended September 30,
	Note	2014		2015	2015
		RMB		RMB	US$
Numerator:
Net income attributable to the Company’s shareholders		27,249		18,723	2,946
Earnings allocated to participating convertible notes	(i)	(1,638	)	—	—
Net income for basic and diluted net income per share		25,611		18,723	2,946
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248
Net income per share attributable to ordinary shares:
- Basic		0.35		0.25	0.04
- Diluted	(ii)	0.35		0.25	0.04

		Six months ended September 30,
	Note	2014		2015	2015
		RMB		RMB	US$
Numerator:
Net income attributable to the Company’s shareholders		56,985		32,274	5,077
Earnings allocated to participating convertible notes	(i)	(4,246	)	—	—
Net income for basic and diluted net income per share		52,739		32,274	5,077
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248
Net income per share attributable to ordinary shares:
- Basic		0.72		0.44	0.07
- Diluted	(ii)	0.72		0.44	0.07

Notes:

(i)

The Notes provide each holder with the ability to participate in any excess cash dividend. Excess cash dividend means any cash dividend to holders of shares that, together with all other cash dividends previously paid to holders of shares in the same financial year, exceeds, on a per share basis, an amount equal to the interest that has accrued and shall accrue at 7% coupon interest rate in such financial year divided by the number of shares into which the Notes are convertible at the conversion price then in effect on the relevant record date. Therefore, net income attributable to the Company’s shareholders is reduced by such allocated earnings to participating convertible notes for each reporting period in both basic and diluted net income per share computation.

(ii)

During the three and six months ended September 30, 2014 and 2015, the Company had potentially dilutive ordinary shares of 40,521,495 respectively, representing shares issuable upon conversion of the Notes (Note 5). Such potentially dilutive ordinary shares were excluded from diluted net income per share computation because their effects would have been anti-dilutive.

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Impairment loss on available-for-sale equity securities

6 Months Ended

Sep. 30, 2015

Impairment loss on available-for-sale equity securities

Impairment loss on available-for-sale equity securities

6Impairment loss on available-for-sale equity securities

The Group recorded an impairment loss on available-for-sale equity securities of RMB8,361 (US$1,316) in the three and six months ended September 30, 2015, which related to the Group’s investment in Life Corporation Limited (“LFC”). Having considered the extent of the decline in the fair value of the ordinary shares of LFC, the length of time to which the market value of the shares had been below cost, and the financial condition and near-term prospects of LFC, the management considered that the decline in value on the investment in LFC up to September 30, 2015 was other-than-temporary. As a result, an impairment loss of RMB8,361 (US$1,316) was recognized in earnings during the three months ended September 30, 2015.

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Income tax

6 Months Ended

Sep. 30, 2015

Income tax

Income tax

7Income tax

The Company’s PRC subsidiaries are subject to PRC statutory income tax rate of 25% unless otherwise specified.

In February 2012, Beijing Jiachenhong Biological Technologies Co., Ltd. (“Beijing Jiachenhong”) received approval from the tax authority on the renewal of its High and New Technology Enterprise (“HNTE”) status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2011 to December 31, 2013. In January 2015, Beijing Jiachenhong received approval from the tax authority on the renewal of its HNTE status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2014 to December 31, 2016.

In June 2011, Guangzhou Municipality Tianhe Nuoya Bio-engineering Co., Ltd. (“Guangzhou Nuoya”) received approval from the tax authority that it qualified as a HNTE which entitled it to the preferential income tax rate of 15% effective retrospectively from January 1, 2010 to December 31, 2012. In April 2014, Guangzhou Nuoya received approval from the tax authority on the renewal of its HNTE status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2013 to December 31, 2015.

The Enterprise Income Tax law and its implementation rules impose a withholding tax at 10%, unless reduced by a tax treaty or agreement, for dividends receivable by non-PRC-resident enterprises from PRC-resident enterprises in respect of earnings accumulated beginning on January 1, 2008. As of March 31 and September 30, 2015, the Company has provided RMB9,100 and RMB11,700 (US$1,841), respectively, for withholding income tax on a portion of the undistributed earnings of its PRC subsidiaries that are expected to be distributed. No income taxes were provided for the remaining undistributed earnings which are intended to be invested indefinitely in the PRC. As of September 30, 2015, such unremitted earnings that may be subject to the withholding tax amounted to RMB1,058,252 (US$166,507) and the related unrecognized deferred tax liability was RMB105,825 (US$16,651).

The Company’s effective income tax rates for the three months ended September 30, 2014 and 2015 were 27.3% and 40.3%, and were 28.0% and 46.1% for the six months ended September 30, 2014 and 2015, respectively. The effective income tax rates for the three and six months ended September 30, 2014 and 2015 differ from the PRC statutory income tax rate of 25% primarily due to the effect of withholding tax and the effect of non-PRC entities not being subject to income tax, which is offset by the effect of Beijing Jiachenhong and Guangzhou Nuoya’s preferential tax treatments.

As of and for the six months ended September 30, 2015, the Company did not have any material unrecognized tax benefits and thus no interest and penalties related to unrecognized tax benefits were recorded. In addition, the Company does not expect that the amount of unrecognized tax benefits will change significantly within the next twelve months.

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Subsequent events

6 Months Ended

Sep. 30, 2015

Subsequent events

Subsequent events

9Subsequent events

In October 2015, GMHL completed an open offer of the sale of its shares (the “Open Offer”) for the purpose of acquiring US$50,000 in principal amount of the Notes and 7,314,015 ordinary shares of the Company held by CGL (the “CGL Sale Shares”). The total proceeds from the Open Offer amounted to approximately HK$985,696 (before expenses in relation to the Open Offer). In October and November 2015, GMHL applied a portion of the net proceeds from the Open Offer for the purchase of US$25,000 in principal amount of the Notes and the CGL Sale Shares and the Company has been informed that GMHL currently intends to apply the remaining net proceeds to acquire the other US$25,000 in aggregate principal amount of the Notes.

In November 2015, GMHL and Nanjing Xinjiekou Department Store Co., Ltd. (“Nanjing Xinjiekou”) entered into a non-binding framework purchase agreement (the “MOU”). Pursuant to the MOU, Nanjing Xinjiekou proposed to (i) acquire from GMHL an aggregate of 47,835,509 ordinary shares of the Company (comprising ordinary shares to be issued upon conversion of all outstanding Notes and the CGL Sale Shares) and 30,681,266 ordinary shares of the Company currently held by GMHL, which in the aggregate would represent approximately 65.1% of the enlarged issued share capital of the Company (the “Minimum Company Shares”); and (ii) provide assistance, including possible financing, to GMHL in its proposed “going private” transaction involving the Company. The total consideration for the possible disposal of the Minimum Company Shares to Nanjing Xinjiekou by GMHL (the “Total Consideration”) is subject to further negotiation between GMHL and Nanjing Xinjiekou with reference to the valuation of the Minimum Company Shares, which is preliminarily expected to be not less than RMB7,255,000 (the “Expected Valuation”).

The Total Consideration is proposed to be settled by Nanjing Xinjiekou issuing its new shares (the “Settlement Shares”) representing an amount of not less than RMB4,000,000 and the remaining RMB3,255,000 of the Total Consideration being settled in cash, resulting in cash consideration of approximately RMB41.4 per Minimum Company Share (approximately US$6.5 per Minimum Company Share).

The proposed disposal of the Minimum Company Shares to Nanjing Xinjiekou and the agreement on the Expected Valuation by Nanjing Xinjiekou are conditional upon (i) Nanjing Xinjiekou acquiring the Minimum Sale Shares upon completion of the proposed “going private” transaction of the Company by GMHL; (ii) GMHL undertaking not to transfer the Settlement Shares for a period of 36 months; (iii) GMHL taking effective steps to ensure that the Company’s management does not resign in a 36 months’ period; and (iv) GMHL providing a conditional undertaking to Nanjing Xinjiekou with respect to the Company achieving certain profit targets in calendar years 2015, 2016 and 2017, including providing compensation to Nanjing Xinjiekou with respect to any profit shortfall.

The proposed disposal of the Minimum Company Shares to Nanjing Xinjiekou by GMHL and the agreement on the Expected Valuation by GMHL are conditional upon (i) Nanjing Xinjiekou providing financing to GMHL in respect of GMHL’s proposed “going private” transaction of the Company, if requested by GMHL and subject to agreement between the parties; (ii) neither the appraised value of the Minimum Company Shares nor the Total Consideration would be less than RMB7,255,000; (iii) the market value of the Settlement Shares at the relevant price determination date will not be less than RMB4,000,000 and RMB3,255,000 of the Total Consideration will be settled in cash; (iv) Nanjing Xinjiekou maintains its listing status on the Shanghai Stock Exchange; and (v) Nanjing Xinjiekou will not change the strategy or business model of the Company for a period of 36 months from the date of completion of the proposed disposal.

In addition to the Minimum Company Shares, Nanjing Xinjiekou has indicated that it also intends to acquire the remaining 34.9% of the Company’s ordinary shares owned by other shareholders of the Company. Nanjing Xinjiekou proposed a preliminary valuation of RMB1,745,000 for such shares, representing a valuation of approximately RMB41.4 per ordinary share (approximately US$6.5 per ordinary share).

The MOU is effective until May 2016 and GMHL has agreed not to enter into any discussions, negotiations or transactions with any party other than Nanjing Xinjiekou in relation to the sale or disposition of the Minimum Company Shares during the term of the MOU.

As of the date of this report, no decisions have been made with respect to the Company’s response to the non-binding proposals received from GMHL and Nanjing Xinjiekou in April 2015 and August 2015, respectively, and there cannot be any assurance as to when, if ever, or on what terms any potential transaction will be consummated.

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Principal activities and basis of presentation (Details)	Sep. 30, 2015 item ¥ / $
Principal activities and basis of presentation
Number of cord blood banking licenses issued that are held by the Company | item	3
Foreign currency convenience translation rate | ¥ / $	6.3556

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Convertible notes (Details 2) - Convertible Notes ¥ in Thousands, $ in Thousands	6 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Mar. 31, 2015 CNY (¥)
Debt Instrument
Cumulative interest payable	$ 21,501	¥ 136,654	¥ 107,848
Carrying amount	$ 137,388	¥ 873,181	815,851
Guaranteed internal rate of return	12.00%
Interest rate	7.00%	7.00%
Debt issuance costs, amortization period	5 years
KKR Notes
Debt Instrument
Principal amount of Notes			400,175
Principal amount of Notes	$ 65,502	¥ 416,298
GM Notes
Debt Instrument
Principal amount of Notes	$ 50,385	¥ 320,229	¥ 307,828

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Unaudited Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - CNY (¥) ¥ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Net effect of foreign currency translation, tax	¥ 0	¥ 0	¥ 0	¥ 0
Net unrealized gain/(loss) in available-for-sale equity securities, tax	¥ 0	¥ 0	¥ 0	¥ 0

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Property, plant and equipment, net

6 Months Ended

Sep. 30, 2015

Property, plant and equipment, net

Property, plant and equipment, net

3Property, plant and equipment, net

Property, plant and equipment, net consist of the following:

	March 31,		September 30,
	2015		2015		2015
	RMB		RMB		US$
Buildings	581,252		581,508		91,495
Leasehold improvements	14,864		14,864		2,339
Machineries	137,811		146,636		23,072
Motor vehicles	15,209		15,505		2,440
Furniture, fixtures and equipment	40,132		40,205		6,326
Construction-in-progress	4,283		1,706		268
	793,551		800,424		125,940
Less: Accumulated depreciation	(190,384	)	(210,363	)	(33,099	)
Total property, plant and equipment, net	603,167		590,061		92,841

Depreciation expense related to property, plant and equipment for the three months ended September 30, 2014 and 2015 was RMB12,146 and RMB11,420 (US$1,797), respectively. Depreciation expense related to property, plant and equipment for the six months ended September 30, 2014 and 2015 was RMB22,398 and RMB22,593 (US$3,554), respectively.

As of March 31, 2015, buildings with carrying value of RMB107,509 were collateralized for a short-term bank loan of RMB60,000 (Note 4).

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Convertible notes (Details 3) - Convertible Notes ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Sep. 30, 2014 CNY (¥)	Sep. 30, 2015 USD ($)	Sep. 30, 2015 CNY (¥)	Sep. 30, 2014 CNY (¥)
Debt Instrument
Amortization of debt issuance costs	$ 146	¥ 927	¥ 912	$ 287	¥ 1,821	¥ 1,814
Total interest expense	4,083	25,948	24,243	7,983	50,734	48,039
KKR Notes
Debt Instrument
Notes interest incurred			13,488			26,638
Notes interest incurred	2,279	14,481		4,440	28,217
GM Notes
Debt Instrument
Notes interest incurred	$ 1,658	¥ 10,540	¥ 9,843	$ 3,256	¥ 20,696	¥ 19,587

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Net income per share (Tables)

6 Months Ended

Sep. 30, 2015

Net income per share

Schedule of Basic and Diluted Net Income Per Share

		Three months ended September 30,
	Note	2014		2015	2015
		RMB		RMB	US$
Numerator:
Net income attributable to the Company’s shareholders		27,249		18,723	2,946
Earnings allocated to participating convertible notes	(i)	(1,638	)	—	—
Net income for basic and diluted net income per share		25,611		18,723	2,946
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248
Net income per share attributable to ordinary shares:
- Basic		0.35		0.25	0.04
- Diluted	(ii)	0.35		0.25	0.04

		Six months ended September 30,
	Note	2014		2015	2015
		RMB		RMB	US$
Numerator:
Net income attributable to the Company’s shareholders		56,985		32,274	5,077
Earnings allocated to participating convertible notes	(i)	(4,246	)	—	—
Net income for basic and diluted net income per share		52,739		32,274	5,077
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248
Net income per share attributable to ordinary shares:
- Basic		0.72		0.44	0.07
- Diluted	(ii)	0.72		0.44	0.07

Notes:

(i)

The Notes provide each holder with the ability to participate in any excess cash dividend. Excess cash dividend means any cash dividend to holders of shares that, together with all other cash dividends previously paid to holders of shares in the same financial year, exceeds, on a per share basis, an amount equal to the interest that has accrued and shall accrue at 7% coupon interest rate in such financial year divided by the number of shares into which the Notes are convertible at the conversion price then in effect on the relevant record date. Therefore, net income attributable to the Company’s shareholders is reduced by such allocated earnings to participating convertible notes for each reporting period in both basic and diluted net income per share computation.

(ii)

During the three and six months ended September 30, 2014 and 2015, the Company had potentially dilutive ordinary shares of 40,521,495 respectively, representing shares issuable upon conversion of the Notes (Note 5). Such potentially dilutive ordinary shares were excluded from diluted net income per share computation because their effects would have been anti-dilutive.