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 June 2020

Commission File Number: 001-34541

GLOBAL CORD BLOOD CORPORATION

(Translation of registrant’s name into English)

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

(Address of Principal Executive Offices)

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

Form 20-F x Form 40-F o

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

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

EXPLANATORY NOTE

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

The forward-looking statements included in this Report on Form 6-K are subject to risks, uncertainties and assumptions about the Company’s businesses and business environments. These statements reflect the Company’s current views with respect to future events and are not a guarantee of future performance. Actual results of the Company’s operations may differ materially from information contained in the forward-looking statements as a result of risk factors some of which include, among other things: the effects of the current 2019 novel coronavirus (“COVID-19”) outbreak, including the inability of the Company’s salesforce to return to work due to current lockdowns implemented in various cities in the PRC and the imposition by some hospitals in the PRC of restrictions on entrance to solely to hospital staff and patients; levels of consumer confidence in the healthcare services sector generally in the PRC as a result of the outbreak; the length of the COVID-19 outbreak and severity of such outbreak across the globe; the pace of recovery following the COVID-19 outbreak; continued compliance with government regulations regarding cord blood banking in the People’s Republic of China, or PRC and any other jurisdiction in which the Company conducts its operations; changing legislation or regulatory environments in the PRC and any other jurisdiction in which the Company conducts its operations; the acceptance by subscribers of the Company’s different pricing and payment options and reaction to the introduction of the Company’s premium-quality pricing strategy; demographic trends in the regions of the PRC in which the Company is the exclusive licensed cord blood banking operator; labor and personnel relations; the existence of a significant shareholder able to influence and direct the corporate policies of the Company; credit risks affecting the Company’s revenue and profitability; changes in the healthcare industry, including those which may result in the use of stem cell therapies becoming redundant or obsolete; the Company’s ability to effectively manage its growth, including maintaining effective controls and procedures and attracting and retaining key management and personnel; changing interpretations of generally accepted accounting principles; the availability of capital resources, including in the form of capital markets financing opportunities, in light of legislative developments affecting U.S. listed issuers whose independent registered public accounting firms are based in the PRC and not subject to U.S. Public Company Accounting Oversight Board inspections, international pressure on trade and currency against the PRC and its potential impact on the PRC consumer behavior, as well as general economic conditions; the non-binding proposal letter from Cordlife Group 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 and year ended March 31, 2020 of the Company.

GLOBAL CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31, 2019 and 2020

	March 31,		March 31,
	2019		2020
	RMB		RMB		US$
	(in thousands except share data)

ASSETS
Current assets
Cash and cash equivalents	4,997,861		5,473,373		772,988
Accounts receivable, less allowance for doubtful accounts
(March 31, 2019: RMB89,634; March 31, 2020: RMB111,869
(US$15,799))	96,923		104,251		14,723
Inventories	27,612		43,758		6,180
Prepaid expenses and other receivables	25,532		44,785		6,325
Total current assets	5,147,928		5,666,167		800,216
Property, plant and equipment, net	545,340		522,679		73,817
Operating lease right-of-use assets1	—		4,548		642
Non-current deposits	236,719		347,360		49,057
Non-current accounts receivable, less allowance for doubtful accounts
(March 31, 2019: RMB74,800; March 31, 2020: RMB71,421
(US$10,087))	104,857		160,031		22,600
Inventories	77,194		85,109		12,020
Intangible assets, net	97,444		92,823		13,109
Investment in equity securities at fair value	107,362		101,306		14,307
Other equity investment	189,129		189,129		26,710
Deferred tax assets	44,981		50,701		7,160
Total assets	6,550,954		7,219,853		1,019,638

LIABILITIES
Current liabilities
Accounts payable	33,566		19,992		2,823
Accrued expenses and other payables	79,977		113,989		16,099
Operating lease liabilities1	—		1,717		242
Deferred revenue	461,986		402,751		56,879
Income tax payable	20,113		32,329		4,566
Total current liabilities	595,642		570,778		80,609
Non-current deferred revenue	2,108,442		2,289,762		323,376
Non-current operating lease liabilities1	—		1,782		252
Other non-current liabilities	404,482		450,900		63,679
Deferred tax liabilities	19,626		18,140		2,562
Total liabilities	3,128,192		3,331,362		470,478

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, 2019 and 2020, respectively	83		83		12
Additional paid-in capital	2,101,582		2,101,582		296,801
Treasury stock, at cost
(March 31, 2019 and 2020: 136,899 shares, respectively)	(2,815	)	(2,815	)	(398	)
Accumulated other comprehensive losses	(88,738	)	(94,663	)	(13,369	)
Retained earnings	1,407,223		1,877,940		265,215
Total equity attributable to Global Cord Blood Corporation	3,417,335		3,882,127		548,261
Non-controlling interests	5,427		6,364		899
Total equity	3,422,762		3,888,491		549,160
Total liabilities and equity	6,550,954		7,219,853		1,019,638

1 Since April 1, 2019, the Company adopted Accounting Standards Update Topic 842 using a modified retrospective transition approach which resulted in the recognition of right-of-use assets and lease liabilities for operating leases as of April 1, 2019 of approximately RMB6.9 million and RMB5.8 million, respectively.

GLOBAL CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months and Year Ended March 31, 2019 and 2020

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

Revenues	251,651		299,888		42,352		986,754		1,221,460		172,503
Direct costs	(47,375	)	(43,458	)	(6,137	)	(186,027	)	(189,128	)	(26,710	)
Gross profit	204,276		256,430		36,215		800,727		1,032,332		145,793
Operating expenses
Research and development	(4,635	)	(3,605	)	(509	)	(14,688	)	(21,109	)	(2,981	)
Sales and marketing	(67,301	)	(60,505	)	(8,545	)	(235,062	)	(261,958	)	(36,996	)
General and administrative	(43,486	)	(42,981	)	(6,070	)	(169,320	)	(190,232	)	(26,866	)
Total operating expenses	(115,422	)	(107,091	)	(15,124	)	(419,070	)	(473,299	)	(66,843	)
Operating income	88,854		149,339		21,091		381,657		559,033		78,950
Other income/(expenses), net
Interest income	6,049		6,287		888		25,320		25,359		3,581
Foreign currency exchange gains/(losses)	15		(139	)	(20	)	(62	)	(303	)	(43	)
Change in fair value of equity securities	11,526		(24,155	)	(3,411	)	(57,125	)	(13,172	)	(1,860	)
Dividend income	—		—		—		976		507		72
Others	2,711		2,111		298		5,695		7,388		1,043
Total other income/(expenses), net	20,301		(15,896	)	(2,245	)	(25,196	)	19,779		2,793
Income before income tax	109,155		133,443		18,846		356,461		578,812		81,743
Income tax expense	(16,405	)	(33,877	)	(4,784	)	(61,260	)	(101,084	)	(14,276	)
Net income	92,750		99,566		14,062		295,201		477,728		67,467
Net income attributable to non-controlling interests	(1,642	)	(2,559	)	(361	)	(4,077	)	(7,011	)	(990	)
Net income attributable to Global Cord Blood Corporation’s shareholders	91,108		97,007		13,701		291,124		470,717		66,477

Earnings per share:
Attributable to ordinary shares
- Basic	0.74		0.80		0.11		2.40		3.87		0.55
- Diluted	0.74		0.80		0.11		2.40		3.87		0.55

Other comprehensive (losses)/ income, net of nil income taxes
- Foreign currency translation adjustments	(10,073	)	1,875		265		28,232		(5,925	)	(837	)
Comprehensive income	82,677		101,441		14,327		323,433		471,803		66,630

Comprehensive income attributable to non-controlling interests	(1,642	)	(2,559	)	(361	)	(4,077	)	(7,011	)	(990	)
Comprehensive income attributable to Global Cord Blood Corporation’s shareholders	81,035		98,882		13,966		319,356		464,792		65,640

Other Events

On June 29, 2020, the Company issued a press release announcing unaudited condensed consolidated financial results for the three months and year ended March 31, 2020. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.		Description

99.1		Press Release dated June 29, 2020

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: June 29, 2020