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 2021

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 ☒                                  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 Amendment No. 1 (the “Amendment”) to the Report of Foreign Private Issuer on Form 6-K (the “Original 6-K”), originally furnished by Global Cord Blood Corporation (the “Company”) to the Securities and Exchange Commission on November 24, 2021 containing the financial results for the three months and six months ended September 30, 2021 of the Company, 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. 333-233880 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: 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; the non-binding proposal letter from Alternate Ocean Investment Company 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.

2

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, 2021 of the Company.

3

Global Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Balance Sheets

(Amounts expressed in thousands, except share data)

		March 31,	September 30,
	Note	2021	2021	2021
		RMB	RMB	US$
ASSETS
Current assets
Cash and cash equivalents		6,075,798	6,390,632	991,812
Accounts receivable, less allowance for doubtful accounts (March 31, 2021: RMB137,961; September 30, 2021: RMB150,060 (US$23,289))		130,298	144,667	22,452
Inventories		44,257	33,821	5,250
Prepaid expenses and other receivables		47,788	79,343	12,313
Total current assets		6,298,141	6,648,463	1,031,827
Property, plant and equipment, net	3	498,656	484,434	75,183
Operating lease right-of-use assets		5,039	3,969	616
Non-current deposits		344,752	343,529	53,315
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2021: RMB67,095; September 30, 2021: RMB62,544 (US$9,707))		217,208	241,377	37,461
Inventories		91,446	93,261	14,474
Intangible assets, net		88,202	85,892	13,330
Investment in equity securities at fair value		117,911	108,974	16,912
Other equity investment		189,129	189,129	29,352
Deferred tax assets		55,845	59,230	9,192
Total assets		7,906,329	8,258,258	1,281,662
LIABILITIES
Current liabilities
Accounts payable		9,479	13,442	2,086
Accrued expenses and other payables		136,448	153,872	23,880
Operating lease liabilities		1,636	1,675	260
Deferred revenue		449,359	451,022	69,998
Income tax payable		29,547	30,767	4,775
Total current liabilities		626,469	650,778	100,999
Non-current deferred revenue		2,392,906	2,441,499	378,915
Non-current operating lease liabilities		147	50	8
Other non-current liabilities		482,224	495,826	76,951
Deferred tax liabilities		16,132	16,701	2,592
Total liabilities		3,517,878	3,604,854	559,465
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 September 30, 2021, respectively		83	83	13
Additional paid-in capital		2,101,582	2,101,582	326,161
Treasury stock, at cost (March 31 and September 30, 2021: 136,899 shares, respectively)		(2,815)	(2,815)	(437)
Accumulated other comprehensive losses		(103,179)	(105,354)	(16,351)
Retained earnings		2,386,187	2,648,344	411,016
Total equity attributable to Global Cord Blood Corporation		4,381,858	4,641,840	720,402
Non-controlling interests		6,593	11,564	1,795
Total equity		4,388,451	4,653,404	722,197
Total liabilities and equity		7,906,329	8,258,258	1,281,662

See accompanying notes to the unaudited condensed consolidated financial statements.

4

Global 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	2020	2021	2021	2020	2021	2021
		RMB	RMB	US$	RMB	RMB	US$
Revenues		285,607	313,670	48,681	566,520	628,844	97,595
Cost of revenues		(44,698)	(46,209)	(7,172)	(88,161)	(94,050)	(14,596)
Gross profit		240,909	267,461	41,509	478,359	534,794	82,999
Operating expenses
Research and development		(4,953)	(5,573)	(865)	(9,298)	(10,671)	(1,656)
Sales and marketing		(54,124)	(56,924)	(8,834)	(109,184)	(116,327)	(18,054)
General and administrative		(42,671)	(44,512)	(6,908)	(87,207)	(90,788)	(14,090)
Total operating expenses		(101,748)	(107,009)	(16,607)	(205,689)	(217,786)	(33,800)
Operating income		139,161	160,452	24,902	272,670	317,008	49,199
Other income/(expenses), net
Interest income		8,810	7,989	1,240	15,577	16,179	2,511
Foreign currency exchange gains/(losses)		66	(15)	(2)	108	131	20
Change in fair value of equity securities		5,699	(12,616)	(1,958)	24,104	(7,015)	(1,089)
Dividend income		1,281	—	—	1,281	1,120	174
Others		1,195	583	90	2,918	1,222	190
Total other income/(expenses), net		17,051	(4,059)	(630)	43,988	11,637	1,806
Income before income tax		156,212	156,393	24,272	316,658	328,645	51,005
Income tax expense	4	(22,890)	(28,251)	(4,384)	(48,911)	(61,517)	(9,547)
Net income		133,322	128,142	19,888	267,747	267,128	41,458
Net income attributable to non-controlling interests		(1,888)	(2,406)	(373)	(3,804)	(4,971)	(772)
Net income attributable to Global Cord Blood Corporation’s shareholders		131,434	125,736	19,515	263,943	262,157	40,686
Earnings per share:	5
-   Basic		1.08	1.03	0.16	2.17	2.15	0.33
-   Diluted		1.08	1.03	0.16	2.17	2.15	0.33
Other comprehensive losses, net of nil income taxes
-   Foreign currency translation adjustments		(4,202)	(229)	(36)	(4,641)	(2,175)	(338)
Comprehensive income		129,120	127,913	19,852	263,106	264,953	41,120
Comprehensive income attributable to non-controlling interests		(1,888)	(2,406)	(373)	(3,804)	(4,971)	(772)
Comprehensive income attributable to Global Cord Blood Corporation’s shareholders		127,232	125,507	19,479	259,302	259,982	40,348

See accompanying notes to the unaudited condensed consolidated financial statements.

5

Global Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Statement of Changes in Equity

(Amounts expressed in thousands, except share data)

	Global 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		losses		earnings		interests		equity
		RMB		RMB			RMB		RMB		RMB		RMB		RMB
Balance as of June 30, 2021	121,687,974		83		2,101,582	(136,899)		(2,815)		(105,125)		2,522,608		9,158		4,525,491
Net income	—		—		—	—		—		—		125,736		2,406		128,142
Other comprehensive losses	—		—		—	—		—		(229)		—		—		(229)
Balance as of September 30, 2021	121,687,974		83		2,101,582	(136,899)		(2,815)		(105,354)		2,648,344		11,564		4,653,404
Balance as of September 30, 2021 - US$		$	13	$	326,161		$	(437)	$	(16,351)	$	411,016	$	1,795	$	722,197
Balance as of June 30, 2020	121,687,974		83		2,101,582	(136,899)		(2,815)		(95,102)		2,010,449		8,280		4,022,477
Net income	—		—		—	—		—		—		131,434		1,888		133,322
Other comprehensive losses	—		—		—	—		—		(4,202)		—		—		(4,202)
Balance as of September 30, 2020	121,687,974		83		2,101,582	(136,899)		(2,815)		(99,304)		2,141,883		10,168		4,151,597
Balance as of March 31, 2021	121,687,974		83		2,101,582	(136,899)		(2,815)		(103,179)		2,386,187		6,593		4,388,451
Net income	—		—		—	—		—		—		262,157		4,971		267,128
Other comprehensive losses	—		—		—	—		—		(2,175)		—		—		(2,175)
Balance as of September 30, 2021	121,687,974		83		2,101,582	(136,899)		(2,815)		(105,354)		2,648,344		11,564		4,653,404
Balance as of September 30, 2021 - US$		$	13	$	326,161		$	(437)	$	(16,351)	$	411,016	$	1,795	$	722,197
Balance as of March 31, 2020	121,687,974		83		2,101,582	(136,899)		(2,815)		(94,663)		1,877,940		6,364		3,888,491
Net income	—		—		—	—		—		—		263,943		3,804		267,747
Other comprehensive losses	—		—		—	—		—		(4,641)		—		—		(4,641)
Balance as of September 30, 2020	121,687,974		83		2,101,582	(136,899)		(2,815)		(99,304)		2,141,883		10,168		4,151,597

See accompanying notes to the unaudited condensed consolidated financial statements.

6

Global Cord Blood Corporation and Subsidiaries

Unaudited Condensed Consolidated Statements of Cash Flows

(Amounts expressed in thousands)

	Six months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Cash flows from operating activities:
Net cash provided by operating activities	274,643	329,799	51,186
Cash flows from investing activities:
Purchase of property, plant and equipment	(11,413)	(6,288)	(976)
Proceeds from disposal of property, plant and equipment	93	55	9
Net cash used in investing activities	(11,320)	(6,233)	(967)
Cash flows from financing activities:
Payment for dividends to holder of non-controlling interests	(6,074)	(7,729)	(1,200)
Net cash used in financing activities	(6,074)	(7,729)	(1,200)
Effect of foreign currency exchange rate change on cash and cash equivalents	(1,119)	(1,003)	(156)
Net increase in cash and cash equivalents	256,130	314,834	48,863
Cash and cash equivalents at beginning of period	5,473,373	6,075,798	942,949
Cash and cash equivalents at end of period	5,729,503	6,390,632	991,812
Non-cash investing activities:
Property, plant and equipment acquired by non-current deposits	4,110	1,223	190
Supplemental disclosures of cash flow information:
Cash paid for income taxes	52,628	63,113	9,794

See accompanying notes to the unaudited condensed consolidated financial statements.

7

Notes to the unaudited condensed consolidated financial statements
(Amounts expressed in thousands, except share data)

1            Principal activities and basis of presentation

(a)         Principal activities

Global 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”). The Group provides cord blood testing and processing services 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. As of September 30, 2021, the Group has three operating cord blood banks, one in the Beijing municipality, one in the Guangdong province and one in the Zhejiang province, the PRC. The Company’s shares are listed on the New York Stock Exchange.

(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, 2021 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, 2021 audited consolidated financial statements of the Company included in the Company’s annual report on Form 20-F for the year ended March 31, 2021.

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, 2021, the results of operations for the three months and six months ended September 30, 2020 and 2021, and cash flows for the six months ended September 30, 2020 and 2021 have been made.

For the convenience of the readers, certain amounts as of and for the three months and six months ended September 30, 2021 included in the accompanying unaudited condensed consolidated financial statements have been translated into U.S. dollars at the rate of US$1.00 = RMB6.4434, being the spot exchange rate of U.S. dollars in effect on September 30, 2021 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, 2021 or at any other date.

2            Summary of significant accounting policies

(a)          Principles of consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company and its subsidiaries in which the Company, directly or indirectly, has a controlling financial interest. For consolidated subsidiaries where the Company’s ownership is less than 100%, the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company, are presented as non-controlling interests. All significant intercompany balances and transactions have been eliminated on consolidation.

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(b)          Use of estimates

The preparation of the unaudited condensed 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 unaudited condensed 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 estimate of stand-alone selling price for each performance obligation in contracts with customers that contain more than one performance obligation, the estimated number of successful match units over the estimated weighted average remaining useful life of donated cord blood units, the useful lives of property, plant and equipment and intangible assets, the recoverability of property, plant and equipment and intangible assets, the collectibility of accounts receivables, and the realizability of inventories and deferred tax assets.

3            Property, plant and equipment, net

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

	March 31,	September 30,
	2021	2021	2021
	RMB	RMB	US$
Buildings	603,910	607,070	94,216
Leasehold improvements	14,864	14,864	2,307
Machineries	219,626	221,193	34,328
Motor vehicles	18,598	18,839	2,924
Furniture, fixtures and equipment	56,029	56,231	8,727
Construction-in-progress	3,619	2,342	363
	916,646	920,539	142,865
Less: Accumulated depreciation	(417,990)	(436,105)	(67,682)
Total property, plant and equipment, net	498,656	484,434	75,183

Depreciation expense related to property, plant and equipment for the three months ended September 30, 2020 and 2021 was RMB11,111 and RMB11,215 (US$1,741), respectively. Depreciation expense related to property, plant and equipment for the six months ended September 30, 2020 and 2021 was RMB22,312 and RMB21,955 (US$3,407), respectively.

4            Income tax

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

In February 2021, Beijing Jiachenhong Biological Technologies Co., Ltd. (“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, 2020 and will expire on December 31, 2022.

In February 2020, Guangzhou Municipality Tianhe Nuoya Bio-engineering Co., Ltd. (“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, 2019 to December 31, 2021.

In March 2019, Zhejiang Lukou Biotechnology Co., Ltd. (“Zhejiang Lukou”) 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, 2018 to December 31, 2020. Zhejiang Lukou is in the process of reapplication for its HNTE certificate which, upon approval, will entitle it to the preferential income tax rate of 15% from January 1, 2021 to December 31, 2023.

The Enterprise Income Tax Law and its implementation rules also 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 September 30, 2021, such undistributed earnings that may be subject to the withholding tax amounted to RMB3,613,270 (US$560,771) and the related unrecognized deferred tax liability was RMB361,327 (US$56,077).

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The Company’s effective income tax rates for the three months ended September 30, 2020 and 2021 were 14.7% and 18.1%, and were 15.4% and 18.7% for the six months ended September 30, 2020 and 2021, respectively. The effective income tax rates for the three months and six months ended September 30, 2020 and 2021 differ from the PRC statutory income tax rate of 25% primarily due to the effect of non-PRC entities not being subject to income tax, which is offset by the effect of Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou’s preferential tax treatments.

As of and for the three months and six months ended September 30, 2021, the Group did not have any material unrecognized tax benefits and thus no interest and penalties related to unrecognized tax benefits were recorded. In addition, the Group does not expect that the amount of unrecognized tax benefits will change significantly within the next twelve months.

5            Earnings per share

The following table sets forth the computation of basic and diluted earnings per share for the three months and six months ended September 30, 2020 and 2021 respectively:

	Three months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Numerator:
Net income for basic and diluted net income per share	131,434	125,736	19,515
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	121,551,075	121,551,075	121,551,075
Earnings per share
- Basic	1.08	1.03	0.16
- Diluted	1.08	1.03	0.16

	Six months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Numerator:
Net income for basic and diluted net income per share	263,943	262,157	40,686
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	121,551,075	121,551,075	121,551,075
Earnings per share
- Basic	2.17	2.15	0.33
- Diluted	2.17	2.15	0.33

10

Other Events

On November 24, 2021, the Company issued a press release announcing preliminary unaudited condensed consolidated financial results for the three months and six months ended September 30, 2021. A copy of the press release is attached as Exhibit 99.1.

Exhibits

Exhibit No.	Description
99.1 *	Press Release, dated November 24, 2021
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

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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: December 3, 2021

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XML

Document and Entity Information	6 Months Ended
	Sep. 30, 2021
Document and Entity Information
Document Type	6-K/A
Amendment Flag	true
Document Period End Date	Sep. 30, 2021
Amendment Description	Amendment No.1
Entity Registrant Name	GLOBAL CORD BLOOD CORP
Entity Central Index Key	0001467808
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

XML

Unaudited Condensed Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Mar. 31, 2021 CNY (¥)
Current assets
Cash and cash equivalents	¥ 6,390,632	$ 991,812	¥ 6,075,798
Accounts receivable, less allowance for doubtful accounts (March 31, 2021: RMB137,961; September 30, 2021: RMB150,060 (US$23,289))	144,667	22,452	130,298
Inventories	33,821	5,250	44,257
Prepaid expenses and other receivables	79,343	12,313	47,788
Total current assets	6,648,463	1,031,827	6,298,141
Property, plant and equipment, net	484,434	75,183	498,656
Operating lease right-of-use assets	3,969	616	5,039
Non-current deposits	343,529	53,315	344,752
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2021: RMB67,095; September 30, 2021: RMB62,544 (US$9,707))	241,377	37,461	217,208
Inventories	93,261	14,474	91,446
Intangible assets, net	85,892	13,330	88,202
Investment in equity securities at fair value	108,974	16,912	117,911
Other equity investment	189,129	29,352	189,129
Deferred tax assets	59,230	9,192	55,845
Total assets	8,258,258	1,281,662	7,906,329
Current liabilities
Accounts payable	13,442	2,086	9,479
Accrued expenses and other payables	153,872	23,880	136,448
Operating lease liabilities	1,675	260	1,636
Deferred revenue	451,022	69,998	449,359
Income tax payable	30,767	4,775	29,547
Total current liabilities	650,778	100,999	626,469
Non-current deferred revenue	2,441,499	378,915	2,392,906
Non-current operating lease liabilities	50	8	147
Other non-current liabilities	495,826	76,951	482,224
Deferred tax liabilities	16,701	2,592	16,132
Total liabilities	3,604,854	559,465	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 and 121,551,075 shares issued and outstanding as of March 31 and September 30, 2021, respectively	83	13	83
Additional paid-in capital	2,101,582	326,161	2,101,582
Treasury stock, at cost (March 31 and September 30, 2021: 136,899 shares, respectively)	(2,815)	(437)	(2,815)
Accumulated other comprehensive losses	(105,354)	(16,351)	(103,179)
Retained earnings	2,648,344	411,016	2,386,187
Total equity attributable to Global Cord Blood Corporation	4,641,840	720,402	4,381,858
Non-controlling interests	11,564	1,795	6,593
Total equity	4,653,404	722,197	4,388,451
Total liabilities and equity	¥ 8,258,258	$ 1,281,662	¥ 7,906,329

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Unaudited Condensed Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Sep. 30, 2021 CNY (¥) shares	Sep. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2021 CNY (¥) shares	Mar. 31, 2021 $ / shares
Unaudited Condensed Consolidated Balance Sheets
Allowance for credit losses current	¥ 150,060	$ 23,289	¥ 137,961
Allowance for credit losses non-current	¥ 62,544	$ 9,707	¥ 67,095
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	121,551,075	121,551,075	121,687,974
Ordinary shares, shares outstanding	121,551,075	121,551,075	121,687,974
Treasury stock, shares	136,899	136,899	136,899

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Unaudited Condensed Consolidated Statements of Comprehensive Income ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021 CNY (¥) ¥ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2020 CNY (¥) ¥ / shares	Sep. 30, 2021 CNY (¥) ¥ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2020 CNY (¥) ¥ / shares
Unaudited Condensed Consolidated Statements of Comprehensive Income
Revenues	¥ 313,670	$ 48,681	¥ 285,607	¥ 628,844	$ 97,595	¥ 566,520
Cost of revenues	(46,209)	(7,172)	(44,698)	(94,050)	(14,596)	(88,161)
Gross profit	267,461	41,509	240,909	534,794	82,999	478,359
Operating expenses
Research and development	(5,573)	(865)	(4,953)	(10,671)	(1,656)	(9,298)
Sales and marketing	(56,924)	(8,834)	(54,124)	(116,327)	(18,054)	(109,184)
General and administrative	(44,512)	(6,908)	(42,671)	(90,788)	(14,090)	(87,207)
Total operating expenses	(107,009)	(16,607)	(101,748)	(217,786)	(33,800)	(205,689)
Operating income	160,452	24,902	139,161	317,008	49,199	272,670
Other income/(expenses), net
Interest income	7,989	1,240	8,810	16,179	2,511	15,577
Foreign currency exchange gains/(losses)	(15)	(2)	66	131	20	108
Change in fair value of equity securities	(12,616)	(1,958)	5,699	(7,015)	(1,089)	24,104
Dividend income			1,281	1,120	174	1,281
Others	583	90	1,195	1,222	190	2,918
Total other income/(expenses), net	(4,059)	(630)	17,051	11,637	1,806	43,988
Income before income tax	156,393	24,272	156,212	328,645	51,005	316,658
Income tax expense	(28,251)	(4,384)	(22,890)	(61,517)	(9,547)	(48,911)
Net income	128,142	19,888	133,322	267,128	41,458	267,747
Net income attributable to non-controlling interests	(2,406)	(373)	(1,888)	(4,971)	(772)	(3,804)
Net income attributable to Global Cord Blood Corporation's shareholders	¥ 125,736	$ 19,515	¥ 131,434	¥ 262,157	$ 40,686	¥ 263,943
Earnings per share:
Basic | (per share)	¥ 1.03	$ 0.16	¥ 1.08	¥ 2.15	$ 0.33	¥ 2.17
Diluted | (per share)	¥ 1.03	$ 0.16	¥ 1.08	¥ 2.15	$ 0.33	¥ 2.17
Other comprehensive losses, net of nil income taxes
Foreign currency translation adjustments	¥ (229)	$ (36)	¥ (4,202)	¥ (2,175)	$ (338)	¥ (4,641)
Comprehensive income	127,913	19,852	129,120	264,953	41,120	263,106
Comprehensive income attributable to non-controlling interests	(2,406)	(373)	(1,888)	(4,971)	(772)	(3,804)
Comprehensive income attributable to Global Cord Blood Corporation's shareholders	¥ 125,507	$ 19,479	¥ 127,232	¥ 259,982	$ 40,348	¥ 259,302

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Unaudited Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - CNY (¥) ¥ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other comprehensive losses
Other comprehensive losses, income taxes	¥ 0	¥ 0	¥ 0	¥ 0

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Unaudited Condensed Consolidated Statement of Changes in Equity ¥ in Thousands, $ in Thousands	Share capital CNY (¥) shares	Share capital USD ($) shares	Additional paid-in capital CNY (¥)	Additional paid-in capital USD ($)	Treasury stock CNY (¥) shares	Treasury stock USD ($) shares	Accumulated other comprehensive losses CNY (¥)	Accumulated other comprehensive losses USD ($)	Retained earnings CNY (¥)	Retained earnings USD ($)	Non-controlling interests CNY (¥)	Non-controlling interests USD ($)	CNY (¥) shares	USD ($) shares
Balance at Mar. 31, 2020	¥ 83		¥ 2,101,582		¥ (2,815)		¥ (94,663)		¥ 1,877,940		¥ 6,364		¥ 3,888,491
Balance, shares at Mar. 31, 2020 | shares	121,687,974	121,687,974			(136,899)	(136,899)
Net income									263,943		3,804		267,747
Other comprehensive losses							(4,641)						(4,641)
Balance at Sep. 30, 2020	¥ 83		2,101,582		¥ (2,815)		(99,304)		2,141,883		10,168		4,151,597
Balance, shares at Sep. 30, 2020 | shares	121,687,974	121,687,974			(136,899)	(136,899)
Balance at Jun. 30, 2020	¥ 83		2,101,582		¥ (2,815)		(95,102)		2,010,449		8,280		4,022,477
Balance, shares at Jun. 30, 2020 | shares	121,687,974	121,687,974			(136,899)	(136,899)
Net income									131,434		1,888		133,322
Other comprehensive losses							(4,202)						(4,202)
Balance at Sep. 30, 2020	¥ 83		2,101,582		¥ (2,815)		(99,304)		2,141,883		10,168		4,151,597
Balance, shares at Sep. 30, 2020 | shares	121,687,974	121,687,974			(136,899)	(136,899)
Balance at Mar. 31, 2021	¥ 83		2,101,582		¥ (2,815)		(103,179)		2,386,187		6,593		¥ 4,388,451
Balance, shares at Mar. 31, 2021 | shares	121,687,974	121,687,974			(136,899)	(136,899)							121,687,974	121,687,974
Net income									262,157		4,971		¥ 267,128	$ 41,458
Other comprehensive losses							(2,175)						(2,175)
Balance at Sep. 30, 2021	¥ 83	$ 13	2,101,582	$ 326,161	¥ (2,815)	$ (437)	(105,354)	$ (16,351)	2,648,344	$ 411,016	11,564	$ 1,795	¥ 4,653,404	$ 722,197
Balance, shares at Sep. 30, 2021 | shares	121,687,974	121,687,974			(136,899)	(136,899)							121,551,075	121,551,075
Balance at Jun. 30, 2021	¥ 83		2,101,582		¥ (2,815)		(105,125)		2,522,608		9,158		¥ 4,525,491
Balance, shares at Jun. 30, 2021 | shares	121,687,974	121,687,974			(136,899)	(136,899)
Net income									125,736		2,406		128,142	$ 19,888
Other comprehensive losses							(229)						(229)
Balance at Sep. 30, 2021	¥ 83	$ 13	¥ 2,101,582	$ 326,161	¥ (2,815)	$ (437)	¥ (105,354)	$ (16,351)	¥ 2,648,344	$ 411,016	¥ 11,564	$ 1,795	¥ 4,653,404	$ 722,197
Balance, shares at Sep. 30, 2021 | shares	121,687,974	121,687,974			(136,899)	(136,899)							121,551,075	121,551,075

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Unaudited Condensed Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	6 Months Ended
	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 CNY (¥)
Cash flows from operating activities:
Net cash provided by operating activities	¥ 329,799	$ 51,186	¥ 274,643
Cash flows from investing activities:
Purchase of property, plant and equipment	(6,288)	(976)	(11,413)
Proceeds from disposal of property, plant and equipment	55	9	93
Net cash used in investing activities	(6,233)	(967)	(11,320)
Cash flows from financing activities:
Payment for dividends to holder of non-controlling interests	(7,729)	(1,200)	(6,074)
Net cash used in financing activities	(7,729)	(1,200)	(6,074)
Effect of foreign currency exchange rate change on cash and cash equivalents	(1,003)	(156)	(1,119)
Net increase in cash and cash equivalents	314,834	48,863	256,130
Cash and cash equivalents at beginning of period	6,075,798	942,949	5,473,373
Cash and cash equivalents at end of period	6,390,632	991,812	5,729,503
Non-cash investing activities:
Property, plant and equipment acquired by non-current deposits	1,223	190	4,110
Supplemental disclosures of cash flow information:
Cash paid for income taxes	¥ 63,113	$ 9,794	¥ 52,628

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Principal activities and basis of presentation

6 Months Ended

Sep. 30, 2021

Principal activities and basis of presentation

Principal activities and basis of presentation

1            Principal activities and basis of presentation

(a)         Principal activities

Global 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”). The Group provides cord blood testing and processing services 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. As of September 30, 2021, the Group has three operating cord blood banks, one in the Beijing municipality, one in the Guangdong province and one in the Zhejiang province, the PRC. The Company’s shares are listed on the New York Stock Exchange.

(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, 2021 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, 2021 audited consolidated financial statements of the Company included in the Company’s annual report on Form 20-F for the year ended March 31, 2021.

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, 2021, the results of operations for the three months and six months ended September 30, 2020 and 2021, and cash flows for the six months ended September 30, 2020 and 2021 have been made.

For the convenience of the readers, certain amounts as of and for the three months and six months ended September 30, 2021 included in the accompanying unaudited condensed consolidated financial statements have been translated into U.S. dollars at the rate of US$1.00 = RMB6.4434, being the spot exchange rate of U.S. dollars in effect on September 30, 2021 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, 2021 or at any other date.

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Summary of significant accounting policies

6 Months Ended

Sep. 30, 2021

Summary of significant accounting policies

Summary of significant accounting policies

2            Summary of significant accounting policies

(a)          Principles of consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of the Company and its subsidiaries in which the Company, directly or indirectly, has a controlling financial interest. For consolidated subsidiaries where the Company’s ownership is less than 100%, the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company, are presented as non-controlling interests. All significant intercompany balances and transactions have been eliminated on consolidation.

(b)          Use of estimates

The preparation of the unaudited condensed 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 unaudited condensed 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 estimate of stand-alone selling price for each performance obligation in contracts with customers that contain more than one performance obligation, the estimated number of successful match units over the estimated weighted average remaining useful life of donated cord blood units, the useful lives of property, plant and equipment and intangible assets, the recoverability of property, plant and equipment and intangible assets, the collectibility of accounts receivables, and the realizability of inventories and deferred tax assets.

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Property, plant and equipment, net

6 Months Ended

Sep. 30, 2021

Property, plant and equipment, net

Property, plant and equipment, net

3            Property, plant and equipment, net

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

	March 31,	September 30,
	2021	2021	2021
	RMB	RMB	US$
Buildings	603,910	607,070	94,216
Leasehold improvements	14,864	14,864	2,307
Machineries	219,626	221,193	34,328
Motor vehicles	18,598	18,839	2,924
Furniture, fixtures and equipment	56,029	56,231	8,727
Construction-in-progress	3,619	2,342	363
	916,646	920,539	142,865
Less: Accumulated depreciation	(417,990)	(436,105)	(67,682)
Total property, plant and equipment, net	498,656	484,434	75,183

Depreciation expense related to property, plant and equipment for the three months ended September 30, 2020 and 2021 was RMB11,111 and RMB11,215 (US$1,741), respectively. Depreciation expense related to property, plant and equipment for the six months ended September 30, 2020 and 2021 was RMB22,312 and RMB21,955 (US$3,407), respectively.

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Income Tax

6 Months Ended

Sep. 30, 2021

Income tax

Income tax

4            Income tax

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

In February 2021, Beijing Jiachenhong Biological Technologies Co., Ltd. (“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, 2020 and will expire on December 31, 2022.

In February 2020, Guangzhou Municipality Tianhe Nuoya Bio-engineering Co., Ltd. (“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, 2019 to December 31, 2021.

In March 2019, Zhejiang Lukou Biotechnology Co., Ltd. (“Zhejiang Lukou”) 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, 2018 to December 31, 2020. Zhejiang Lukou is in the process of reapplication for its HNTE certificate which, upon approval, will entitle it to the preferential income tax rate of 15% from January 1, 2021 to December 31, 2023.

The Enterprise Income Tax Law and its implementation rules also 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 September 30, 2021, such undistributed earnings that may be subject to the withholding tax amounted to RMB3,613,270 (US$560,771) and the related unrecognized deferred tax liability was RMB361,327 (US$56,077).

The Company’s effective income tax rates for the three months ended September 30, 2020 and 2021 were 14.7% and 18.1%, and were 15.4% and 18.7% for the six months ended September 30, 2020 and 2021, respectively. The effective income tax rates for the three months and six months ended September 30, 2020 and 2021 differ from the PRC statutory income tax rate of 25% primarily due to the effect of non-PRC entities not being subject to income tax, which is offset by the effect of Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou’s preferential tax treatments.

As of and for the three months and six months ended September 30, 2021, the Group did not have any material unrecognized tax benefits and thus no interest and penalties related to unrecognized tax benefits were recorded. In addition, the Group does not expect that the amount of unrecognized tax benefits will change significantly within the next twelve months.

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Earnings per share

6 Months Ended

Sep. 30, 2021

Earnings per share

Earnings per share

5            Earnings per share

The following table sets forth the computation of basic and diluted earnings per share for the three months and six months ended September 30, 2020 and 2021 respectively:

	Three months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Numerator:
Net income for basic and diluted net income per share	131,434	125,736	19,515
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	121,551,075	121,551,075	121,551,075
Earnings per share
- Basic	1.08	1.03	0.16
- Diluted	1.08	1.03	0.16

	Six months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Numerator:
Net income for basic and diluted net income per share	263,943	262,157	40,686
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	121,551,075	121,551,075	121,551,075
Earnings per share
- Basic	2.17	2.15	0.33
- Diluted	2.17	2.15	0.33

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Summary of significant accounting policies (Policies)

6 Months Ended

Sep. 30, 2021

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 subsidiaries in which the Company, directly or indirectly, has a controlling financial interest. For consolidated subsidiaries where the Company’s ownership is less than 100%, the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company, are presented as non-controlling interests. All significant intercompany balances and transactions have been eliminated on consolidation.

Use of estimates

(b)          Use of estimates

The preparation of the unaudited condensed 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 unaudited condensed 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 estimate of stand-alone selling price for each performance obligation in contracts with customers that contain more than one performance obligation, the estimated number of successful match units over the estimated weighted average remaining useful life of donated cord blood units, the useful lives of property, plant and equipment and intangible assets, the recoverability of property, plant and equipment and intangible assets, the collectibility of accounts receivables, and the realizability of inventories and deferred tax assets.

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Property, plant and equipment, net (Tables)

6 Months Ended

Sep. 30, 2021

Property, plant and equipment, net

Schedule of property, plant and equipment, net

	March 31,	September 30,
	2021	2021	2021
	RMB	RMB	US$
Buildings	603,910	607,070	94,216
Leasehold improvements	14,864	14,864	2,307
Machineries	219,626	221,193	34,328
Motor vehicles	18,598	18,839	2,924
Furniture, fixtures and equipment	56,029	56,231	8,727
Construction-in-progress	3,619	2,342	363
	916,646	920,539	142,865
Less: Accumulated depreciation	(417,990)	(436,105)	(67,682)
Total property, plant and equipment, net	498,656	484,434	75,183

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Earnings per share (Tables)

6 Months Ended

Sep. 30, 2021

Earnings per share

Schedule of computation of basic and diluted earnings per share

	Three months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Numerator:
Net income for basic and diluted net income per share	131,434	125,736	19,515
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	121,551,075	121,551,075	121,551,075
Earnings per share
- Basic	1.08	1.03	0.16
- Diluted	1.08	1.03	0.16

	Six months ended September 30,
	2020	2021	2021
	RMB	RMB	US$
Numerator:
Net income for basic and diluted net income per share	263,943	262,157	40,686
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	121,551,075	121,551,075	121,551,075
Earnings per share
- Basic	2.17	2.15	0.33
- Diluted	2.17	2.15	0.33

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Principal activities and basis of presentation (Details)	Sep. 30, 2021 item $ / ¥
Principal activities
Number of cord banking licenses issued by authorities that are held by the entity	3
Reorganization and reverse recapitalization
Foreign currency convenience translation rate | $ / ¥	6.4434
Beijing municipality
Principal activities
Number of cord banking licenses issued by authorities that are held by the entity	1
Guangdong province
Principal activities
Number of cord banking licenses issued by authorities that are held by the entity	1
Zhejiang province
Principal activities
Number of cord banking licenses issued by authorities that are held by the entity	1

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Property, plant and equipment, net - Schedule (Details) ¥ in Thousands, $ in Thousands	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Mar. 31, 2021 CNY (¥)
Property, plant and equipment, net
Property, plant and equipment	¥ 920,539	$ 142,865	¥ 916,646
Less: Accumulated depreciation	(436,105)	(67,682)	(417,990)
Total property, plant and equipment, net	484,434	75,183	498,656
Buildings
Property, plant and equipment, net
Property, plant and equipment	607,070	94,216	603,910
Leasehold improvements
Property, plant and equipment, net
Property, plant and equipment	14,864	2,307	14,864
Machineries
Property, plant and equipment, net
Property, plant and equipment	221,193	34,328	219,626
Motor vehicles
Property, plant and equipment, net
Property, plant and equipment	18,839	2,924	18,598
Furniture, fixtures and equipment
Property, plant and equipment, net
Property, plant and equipment	56,231	8,727	56,029
Construction-in-progress
Property, plant and equipment, net
Property, plant and equipment	¥ 2,342	$ 363	¥ 3,619

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Property, plant and equipment, net - Depreciation expense (Details) ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 CNY (¥)	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 CNY (¥)
Property, plant and equipment, net
Depreciation expense	¥ 11,215	$ 1,741	¥ 11,111	¥ 21,955	$ 3,407	¥ 22,312

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Income tax (Details) ¥ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		36 Months Ended
	Sep. 30, 2021 CNY (¥)	Sep. 30, 2020	Sep. 30, 2021 CNY (¥)	Sep. 30, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021 USD ($)
Income tax
Statutory income tax rate (as a percent)			25.00%
Withholding tax rate			10.00%
Undistributed earnings that may be subject to the withholding tax	¥ 3,613,270		¥ 3,613,270						$ 560,771
Unrecognized deferred tax liability from unremitted earnings of PRC subsidiaries	¥ 361,327		¥ 361,327						$ 56,077
Effective income tax rate	18.10%	14.70%	18.70%	15.40%
Interest and penalties related to unrecognized tax benefits	¥ 0		¥ 0
Beijing Jiachenhong
Income tax
HNTE preferential tax rate						15.00%
Zhejiang Lukou
Income tax
HNTE preferential tax rate								15.00%
Forecast | Guangzhou Nuoya
Income tax
HNTE preferential tax rate							15.00%
Forecast | Zhejiang Lukou
Income tax
HNTE preferential tax rate					15.00%

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Earnings per share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021 CNY (¥) ¥ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 CNY (¥) ¥ / shares shares	Sep. 30, 2021 CNY (¥) ¥ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 CNY (¥) ¥ / shares shares
Numerator:
Net income for basic and diluted net income per share	¥ 125,736	$ 19,515	¥ 131,434	¥ 262,157	$ 40,686	¥ 263,943
Denominator:
Weighted Average Number of Shares Outstanding, Basic and Diluted	121,551,075	121,551,075	121,551,075	121,551,075	121,551,075	121,551,075
Earnings per share
Basic | (per share)	¥ 1.03	$ 0.16	¥ 1.08	¥ 2.15	$ 0.33	¥ 2.17
Diluted | (per share)	¥ 1.03	$ 0.16	¥ 1.08	¥ 2.15	$ 0.33	¥ 2.17