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 2022

Commission File Number: 001-34541

GLOBAL 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 ¨

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

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

EXPLANATORY NOTE 

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

The forward-looking statements included in this Report on Form 6-K are subject to risks, uncertainties and assumptions about the Company’s businesses and business environments. These statements reflect the Company’s current views with respect to future events and are not a guarantee of future performance. Actual results of the Company’s operations may differ materially from information contained in the forward-looking statements as a result of risk factors some of which include, among other things: the ongoing impact of 2019 novel coronavirus (“COVID-19”), including the partial lockdowns implemented in various cities in the PRC and the imposition by some hospitals in the PRC of restrictions on entrance to solely to hospital staff and patients; levels of consumer confidence in the healthcare services sector generally in the PRC as a result of the outbreak; the length of the COVID-19 outbreak and severity of such outbreak across the globe; the pace of recovery following the COVID-19 outbreak; continued compliance with government regulations regarding cord blood banking in the People’s Republic of China, or PRC and any other jurisdiction in which the Company conducts its operations; changing legislation or regulatory environments in the PRC (including but not limited to cord blood license related regulations, Biosecurity laws, antitrust laws) and any other jurisdiction in which the Company conducts its operations; the acceptance by subscribers of the Company’s different pricing and payment options and reaction to the introduction of the Company’s premium-quality pricing strategy; demographic trends in the regions of the PRC in which the Company is the exclusive licensed cord blood banking operator; labor and personnel relations; the existence of a significant shareholder able to influence and direct the corporate policies of the Company; credit risks affecting the Company’s revenue and profitability; changes in the healthcare industry, including those which may result in the use of stem cell therapies becoming redundant or obsolete; the Company’s ability to effectively manage its growth, including maintaining effective controls and procedures and attracting and retaining key management and personnel; changing interpretations of generally accepted accounting principles; the availability of capital resources, including in the form of capital markets financing opportunities, in light of legislative developments affecting U.S. listed issuers whose independent registered public accounting firms are based in the PRC and not subject to U.S. Public Company Accounting Oversight Board inspections, international pressure on trade and currency against the PRC and its potential impact on the PRC consumer behavior, as well as general economic conditions; 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, 2021 of the Company.

GLOBAL CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31 and December 31, 2021

	March 31,			December 31,
	2021			2021
	RMB			RMB			US$
	(in thousands except share data)
ASSETS
Current assets
Cash and cash equivalents		6,075,798			6,505,014			1,020,780
Accounts receivable, less allowance for credit losses (March 31, 2021: RMB137,961; December 31, 2021: RMB152,100 (US$23,868))		130,298			154,074			24,177
Inventories		44,257			47,390			7,437
Prepaid expenses and other receivables		47,788			75,721			11,882
Total current assets		6,298,141			6,782,199			1,064,276
Property, plant and equipment, net		498,656			480,229			75,359
Operating lease right-of-use assets		5,039			3,434			539
Non-current deposits		344,752			343,541			53,909
Non-current accounts receivable, less allowance for credit losses (March 31, 2021: RMB67,095; December 31, 2021: RMB59,173 (US$9,286))		217,208			253,539			39,785
Inventories		91,446			94,555			14,838
Intangible assets, net		88,202			84,737			13,297
Investment in equity securities at fair value		117,911			107,726			16,905
Other equity investment		189,129			189,129			29,678
Deferred tax assets		55,845			58,637			9,201
Total assets		7,906,329			8,397,726			1,317,787
LIABILITIES
Current liabilities
Accounts payable		9,479			11,674			1,832
Accrued expenses and other payables		136,448			144,668			22,702
Operating lease liabilities		1,636			1,695			266
Deferred revenue		449,359			451,974			70,925
Income tax payable		29,547			26,483			4,156
Total current liabilities		626,469			636,494			99,881
Non-current deferred revenue		2,392,906			2,457,490			385,634
Non-current operating lease liabilities		147			—			—
Other non-current liabilities		482,224			499,900			78,445
Deferred tax liabilities		16,132			16,245			2,549
Total liabilities		3,517,878			3,610,129			566,509
EQUITY
Shareholders’ equity of Global Cord Blood Corporation
Ordinary shares
- US$0.0001 par value, 250,000,000 shares authorized, 121,687,974 and 121,551,075 shares issued and outstanding as of March 31 and December 31, 2021, respectively		83			83			13
Additional paid-in capital		2,101,582			2,101,582			329,784
Treasury stock, at cost (March 31 and December 31, 2021: 136,899 shares, respectively)		(2,815	)		(2,815	)		(442	)
Accumulated other comprehensive losses		(103,179	)		(106,718	)		(16,746	)
Retained earnings		2,386,187			2,782,536			436,640
Total equity attributable to Global Cord Blood Corporation		4,381,858			4,774,668			749,249
Non-controlling interests		6,593			12,929			2,029
Total equity		4,388,451			4,787,597			751,278
Total liabilities and equity		7,906,329			8,397,726			1,317,787

GLOBAL CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months and Nine Months Ended December 31, 2020 and 2021

	Three months ended December 31,									Nine months ended December 31,
	2020			2021						2020			2021
	RMB			RMB			US$			RMB			RMB			US$
	(in thousands except per share data)
Revenues		290,798			317,202			49,776			857,318			946,046			148,455
Cost of revenues		(44,878	)		(47,281	)		(7,419	)		(133,039	)		(141,331	)		(22,178	)
Gross profit		245,920			269,921			42,357			724,279			804,715			126,277
Operating expenses
Research and development		(8,985	)		(6,845	)		(1,074	)		(18,283	)		(17,516	)		(2,749	)
Sales and marketing		(68,994	)		(65,916	)		(10,344	)		(178,178	)		(182,243	)		(28,598	)
General and administrative		(43,984	)		(47,441	)		(7,445	)		(131,191	)		(138,229	)		(21,691	)
Total operating expenses		(121,963	)		(120,202	)		(18,863	)		(327,652	)		(337,988	)		(53,038	)
Operating income		123,957			149,719			23,494			396,627			466,727			73,239
Other income, net
Interest income		7,190			8,004			1,256			22,767			24,183			3,795
Foreign currency exchange gains/(losses)		75			(526	)		(83	)		183			(395	)		(62	)
Change in fair value of equity securities		6,003			599			94			30,107			(6,416	)		(1,007	)
Dividend income		—			—			—			1,281			1,120			176
Others		2,152			1,329			209			5,070			2,551			400
Total other income, net		15,420			9,406			1,476			59,408			21,043			3,302
Income before income tax		139,377			159,125			24,970			456,035			487,770			76,541
Income tax expense		(21,220	)		(23,568	)		(3,698	)		(70,131	)		(85,085	)		(13,352	)
Net income		118,157			135,557			21,272			385,904			402,685			63,189
Net income attributable to non-controlling interests		(1,587	)		(1,365	)		(214	)		(5,391	)		(6,336	)		(994	)
Net income attributable to Global Cord Blood Corporation’s shareholders		116,570			134,192			21,058			380,513			396,349			62,195
Earnings per share:
Attributable to ordinary shares
-  Basic		0.96			1.11			0.17			3.13			3.26			0.51
-  Diluted		0.96			1.11			0.17			3.13			3.26			0.51
Other comprehensive losses, net of nil income taxes
-  Foreign currency translation adjustments		(4,289	)		(1,364	)		(214	)		(8,930	)		(3,539	)		(555	)
Comprehensive income		113,868			134,193			21,058			376,974			399,146			62,634
Comprehensive income attributable to non-controlling interests		(1,587	)		(1,365	)		(214	)		(5,391	)		(6,336	)		(994	)
Comprehensive income attributable to Global Cord Blood Corporation’s shareholders		112,281			132,828			20,844			371,583			392,810			61,640

Other Events

On February 28, 2022, the Company issued a press release announcing unaudited condensed consolidated financial results for the three months and nine months ended December 31, 2021. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.	Description
99.1	Press Release dated February 28, 2022

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: February 28, 2022