Unassociated Document

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 November 2010

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 o No x

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

EXPLANATORY NOTE

This Report of Foreign Private Issuer on Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or 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 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 expectations are as of the date this Report on Form 6-K is filed, and the Company does not intend to update any of the forward-looking statements after the date this Report on Form 6-K is filed to confirm 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 our businesses and business environments. These statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results of our 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; changing legislation or regulatory environments; requirements or changes affecting the businesses in which the Company is engaged; industry trends, including factors affecting supply and demand; labor and personnel relations; credit risks affecting the Company's revenue and profitability; changes in the healthcare industry; 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; general economic conditions; and other relevant risks detailed in the Company’s filings with the Securities and Exchange Commission.

Results of Operations and Financial Condition

Following this cover page are the unaudited consolidated financial results for the three months and six months ended September 30, 2010 of China Cord Blood Corporation (the “Company”).

CHINA CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of March 31 and September 30, 2010

	March 31,		September 30,
	2010		2010
	RMB		RMB		US$
	(in thousands except share data)
ASSETS
Current assets
Cash and cash equivalents		280,835		338,641		50,615
Accounts receivable, less allowance for doubtful accounts
(March 31, 2010: RMB8,016; September 30, 2010: RMB10,073)		61,349		56,609		8,461
Inventories		5,070		6,491		970
Prepaid expenses and other receivables		13,137		10,848		1,621
Deferred tax assets		3,443		4,441		664
Total current assets		363,834		417,030		62,331
Property, plant and equipment, net		250,491		246,756		36,882
Non-current prepayments		151,138		7,260		1,085
Non-current accounts receivable, less allowance for doubtful accounts
(March 31, 2010: RMB9,181; September 30, 2010: RMB15,976)		176,874		211,360		31,591
Inventories		29,637		31,527		4,712
Intangible asset, net		26,297		25,812		3,858
Available-for-sale equity securities		48,475		51,462		7,692
Other investment		-		137,729		20,586
Deferred tax assets		288		506		76
Total assets		1,047,034		1,129,442		168,813

LIABILITIES
Current liabilities
Bank loan		45,000		45,000		6,726
Accounts payable		5,410		6,657		994
Accrued expenses and other payables		22,475		20,643		3,086
Deferred revenue		36,074		53,370		7,977
Amounts due to related parties		2,977		720		107
Income tax payable		4,098		6,920		1,034
Total current liabilities		116,034		133,310		19,924
Deferred revenue		93,155		118,601		17,727
Other non-current liabilities		15,978		20,859		3,118
Deferred tax liabilities		2,259		836		125
Total liabilities		227,426		273,606		40,894

EQUITY
Shareholders’ equity
Ordinary shares
- US$0.0001 par value, 250,000,000 shares authorized, 66,743,693 shares
and 66,997,200 shares issued and outstanding as of March 31 and
September 30, 2010, respectively	46	46		7
Additional paid-in capital	719,329	727,911		108,797
Accumulated other comprehensive income/(loss)	2,221	(12,853	)	(1,921	)
Retained earnings	87,290	126,859		18,962
Total shareholders’ equity	808,886	841,963		125,845
Noncontrolling interests	10,722	13,873		2,074
Total equity	819,608	855,836		127,919
Total liabilities and equity	1,047,034	1,129,442		168,813

CHINA CORD BLOOD CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three Months and Six Months Ended September 30, 2009 and 2010

	Three months ended September 30,									Six months ended September 30,
	2009			2010						2009			2010
	RMB			RMB			US$			RMB			RMB			US$
	(in thousands except per share data)

Revenues		63,897			82,682			12,358			121,826			154,378			23,074
Direct costs		(17,632	)		(19,154	)		(2,863	)		(33,888	)		(36,406	)		(5,441	)
Gross profit		46,265			63,528			9,495			87,938			117,972			17,633
Operating expenses
Research and development		-			(1,794	)		(268	)		-			(3,337	)		(499	)
Sales and marketing		(9,470	)		(11,684	)		(1,746	)		(16,512	)		(21,774	)		(3,254	)
General and administrative		(12,651	)		(20,856	)		(3,117	)		(24,227	)		(40,312	)		(6,024	)
Total operating expenses		(22,121	)		(34,334	)		(5,131	)		(40,739	)		(65,423	)		(9,777	)
Operating income		24,144			29,194			4,364			47,199			52,549			7,856
Other income/(expense), net
Interest income		1,723			1,587			237			2,755			4,038			604
Interest expense		(657	)		(672	)		(100	)		(1,117	)		(1,278	)		(191	)
Exchange gain		451			827			124			563			590			88
Impairment loss on available-
for-sale equity securities		-			-			-			(21,566	)		-			-
Others		83			774			116			377			890			132
Total other income/(expense), net		1,600			2,516			377			(18,988	)		4,240			633
Income before income tax		25,744			31,710			4,741			28,211			56,789			8,489
Income tax expense		(6,367	)		(8,112	)		(1,213	)		(12,141	)		(14,222	)		(2,126	)
Net income		19,377			23,598			3,528			16,070			42,567			6,363
Income attributable to noncontrolling
interests		(1,391	)		(1,616	)		(242	)		(2,676	)		(2,998	)		(448	)
Income attributable to redeemable
noncontrolling interests		(347	)		-			-			(347	)		-			-
Net income attributable to
shareholders		17,639			21,982			3,286			13,047			39,569			5,915

Net income per share:
Attributable to ordinary shares
-Basic		0.29			0.33			0.05			0.12			0.59			0.09
-Diluted		0.27			0.33			0.05			0.11			0.58			0.09



Attributable to redeemable
ordinary shares
-Basic		N/A			N/A			N/A			0.92			N/A			N/A
-Diluted		N/A			N/A			N/A			0.92			N/A			N/A

Other Events

On November 24, 2010, the Company issued a press release announcing unaudited consolidated financial results for the three months and six months ended September 30, 2010. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.

Description

99.1

Press Release, dated November 24, 2010

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: November 24, 2010