China Cord Blood Corp

CIK:0001467808|SEC Filings

Consolidated Statements of Comprehensive Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022 CNY (¥) ¥ / shares	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2021 CNY (¥) ¥ / shares	Mar. 31, 2020 CNY (¥) ¥ / shares
Consolidated Statements of Comprehensive Income
Revenues	¥ 1,243,255	$ 196,119	¥ 1,159,639	¥ 1,221,460
Cost of revenues	(183,307)	(28,916)	(178,947)	(189,128)
Gross profit	1,059,948	167,203	980,692	1,032,332
Operating expenses
Research and development	(22,296)	(3,517)	(23,769)	(21,109)
Sales and marketing	(241,725)	(38,132)	(237,691)	(261,958)
General and administrative	(187,062)	(29,509)	(174,362)	(190,232)
Total operating expenses	(451,083)	(71,158)	(435,822)	(473,299)
Operating income	608,865	96,045	544,870	559,033
Other income, net
Interest income	32,609	5,144	30,899	25,359
Foreign currency exchange (losses)/gains	(642)	(101)	155	(303)
Change in fair value of equity securities	(20,391)	(3,217)	25,385	(13,172)
Dividend income	1,120	177	1,281	507
Others	6,274	990	8,161	7,388
Total other income, net	18,970	2,993	65,881	19,779
Income before income tax	627,835	99,038	610,751	578,812
Income tax expense	(118,352)	(18,669)	(94,546)	(101,084)
Net income	509,483	80,369	516,205	477,728
Net income attributable to non-controlling interests	(8,418)	(1,328)	(7,958)	(7,011)
Net income attributable to Global Cord Blood Corporation's shareholders	¥ 501,065	$ 79,041	¥ 508,247	¥ 470,717
Earnings per share:
Basic \| (per share)	¥ 4.12	$ 0.65	¥ 4.18	¥ 3.87
Diluted \| (per share)	¥ 4.12	$ 0.65	¥ 4.18	¥ 3.87
Other comprehensive losses, net of nil income taxes
Foreign currency translation adjustments	¥ (3,607)	$ (569)	¥ (8,516)	¥ (5,925)
Comprehensive income	505,876	79,800	507,689	471,803
Comprehensive income attributable to non-controlling interests	(8,418)	(1,328)	(7,958)	(7,011)
Comprehensive income attributable to Global Cord Blood Corporation's shareholders	¥ 497,458	$ 78,472	¥ 499,731	¥ 464,792

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022 CNY (¥)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 CNY (¥)	Mar. 31, 2020 CNY (¥)
Operating activities:
Net income	¥ 509,483	$ 80,369	¥ 516,205	¥ 477,728
Adjustments to reconcile net income to net cash provided by operating activities:
Loss/(gain) on disposal of property, plant and equipment	(152)	(24)	(139)	51
Depreciation of property, plant and equipment	43,301	6,831	44,469	44,828
Reduction in the carrying amount of right-of-use assets	2,159	341	2,551	2,335
Amortization of intangible assets	4,621	729	4,621	4,621
Deferred income taxes	3,235	510	(7,152)	(7,206)
Allowance for credit losses	34,339	5,417	37,212	24,395
Change in fair value of equity securities	20,391	3,217	(25,385)	13,172
Changes in operating assets and liabilities:
Accounts receivable	(102,933)	(16,238)	(120,436)	(86,897)
Inventories	(5,339)	(842)	(6,836)	(24,061)
Prepaid expenses and other receivables	29,546	4,660	(3,722)	(19,935)
Amounts due from related parties	(49,148)	(7,753)
Accounts payable	(1,149)	(181)	(10,513)	(13,574)
Accrued expenses and other payables	12,789	2,017	26,261	29,953
Operating lease right-of-use assets			(3,042)
Operating lease liabilities	(1,636)	(258)	(1,716)	(2,259)
Deferred revenue	89,546	14,126	149,752	122,085
Income tax payable	1,613	254	(2,782)	12,216
Other non-current liabilities	22,942	3,619	31,362	46,552
Net cash provided by operating activities	613,608	96,794	630,710	624,004
Investing activities:
Purchase of property, plant and equipment	(19,789)	(3,122)	(20,892)	(24,240)
Proceeds from disposal of property, plant and equipment	154	24	785	1,195
Refund of deposits for purchase of property, plant and equipment				6,984
Refund of non-current deposits				210,000
Payment of non-current deposits				(340,000)
Net cash used in investing activities	(19,635)	(3,098)	(20,107)	(146,061)
Financing activities:
Payment for dividends to holder of non-controlling interests	(7,729)	(1,219)	(6,074)	(4,039)
Net cash used in financing activities	(7,729)	(1,219)	(6,074)	(4,039)
Effect of foreign currency exchange rate change on cash and cash equivalents	(1,058)	(167)	(2,104)	1,608
Net increase in cash and cash equivalents	585,186	92,310	602,425	475,512
Cash and cash equivalents at beginning of year	6,075,798	958,434	5,473,373	4,997,861
Cash and cash equivalents at end of year	6,660,984	1,050,744	6,075,798	5,473,373
Non-cash investing activities:
Property, plant and equipment acquired by non-current deposits			2,608	4,884
Non-cash financing activity:
Payable for dividends to holder of non-controlling interests	9,355	1,476	7,729	6,074
Supplemental disclosures of cash flow information:
Cash paid for income taxes	¥ 113,504	$ 17,905	¥ 104,480	¥ 96,074

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Mar. 31, 2022 CNY (¥)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 CNY (¥)
Current assets
Cash and cash equivalents	¥ 6,660,984	$ 1,050,744	¥ 6,075,798
Accounts receivable, less allowance for credit losses (March 31, 2021: RMB137,961; March 31, 2022: RMB160,445 (US$25,309))	161,302	25,445	130,298
Inventories	45,879	7,237	44,257
Prepaid expenses and other receivables	17,690	2,793	47,788
Amounts due from related parties	49,148	7,752
Total current assets	6,935,003	1,093,971	6,298,141
Property, plant and equipment, net	473,811	74,742	498,656
Operating lease right-of-use assets	2,880	454	5,039
Non-current deposits	346,228	54,616	344,752
Non-current accounts receivable, less allowance for credit losses (March 31, 2021: RMB67,095; March 31, 2022: RMB59,037 (US$9,313))	254,798	40,193	217,208
Inventories	95,163	15,012	91,446
Intangible assets, net	83,581	13,184	88,202
Investment in equity securities at fair value	93,174	14,698	117,911
Other equity investment	189,129	29,834	189,129
Deferred tax assets	60,758	9,584	55,845
Total assets	8,534,525	1,346,288	7,906,329
Current liabilities
Accounts payable	8,330	1,314	9,479
Accrued expenses and other payables	148,659	23,451	136,448
Operating lease liabilities	147	23	1,636
Deferred revenue	458,262	72,289	449,359
Income tax payable	31,160	4,915	29,547
Total current liabilities	646,558	101,992	626,469
Non-current deferred revenue	2,473,549	390,193	2,392,906
Non-current operating lease liabilities	0	0	147
Other non-current liabilities	505,166	79,688	482,224
Deferred tax liabilities	24,280	3,830	16,132
Total liabilities	3,649,553	575,703	3,517,878
Shareholders' equity of Global Cord Blood Corporation
Ordinary shares - US$0.0001 par value, 250,000,000 shares authorized, 121,687,974 shares issued and 121,551,075 shares outstanding as of March 31, 2021 and 2022, respectively	83	13	83
Additional paid-in capital	2,101,582	331,516	2,101,582
Treasury stock, at cost (March 31, 2021 and 2022: 136,899 shares, respectively)	(2,815)	(444)	(2,815)
Accumulated other comprehensive losses	(106,786)	(16,845)	(103,179)
Retained earnings	2,887,252	455,453	2,386,187
Total equity attributable to Global Cord Blood Corporation	4,879,316	769,693	4,381,858
Non-controlling interests	5,656	892	6,593
Total equity	4,884,972	770,585	4,388,451
Commitments and contingencies
Total liabilities and equity	¥ 8,534,525	$ 1,346,288	¥ 7,906,329