Document and Entity Information	12 Months Ended
Document and Entity Information	Mar. 31, 2017 shares
Document and Entity Information
Document Type	20-F
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Entity Registrant Name	China Cord Blood Corp
Entity Central Index Key	0001467808
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	80,083,248
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Current assets
Cash and cash equivalents	$ 509,976	¥ 3,510,264	¥ 3,008,422
Accounts receivable, less allowance for doubtful accounts (March 31, 2016: RMB38,261; March 31, 2017: RMB46,858 (US$6,808))	16,349	112,533	124,645
Inventories	4,502	30,987	28,326
Prepaid expenses and other receivables	2,546	17,524	24,412
Total current assets	533,373	3,671,308	3,185,805
Property, plant and equipment, net	80,113	551,434	574,567
Non-current deposits	34,502	237,487	218,379
Non-current accounts receivable, less allowance for doubtful accounts (March 31, 2016: RMB62,633; March 31, 2017: RMB70,744 (US$10,278))	19,634	135,148	165,011
Inventories	9,992	68,775	64,322
Intangible assets, net	15,499	106,686	111,307
Available-for-sale equity securities	29,171	200,790	162,734
Other investment	27,477	189,129	189,129
Deferred tax assets	3,219	22,155	16,673
Total assets	752,980	5,182,912	4,687,927
Current liabilities
Bank loan			60,000
Convertible note, net	149,807	1,031,154
Accounts payable	1,607	11,060	13,248
Accrued expenses and other payables	9,467	65,162	61,304
Deferred revenue	47,026	323,690	257,692
Amounts due to related parties	680	4,679	53,255
Income tax payable	1,654	11,383	8,524
Total current liabilities	210,241	1,447,128	454,023
Convertible notes, net			906,222
Non-current deferred revenue	228,030	1,569,579	1,321,239
Other non-current liabilities	43,909	302,233	255,932
Deferred tax liabilities	3,112	21,423	37,086
Total liabilities	485,292	3,340,363	2,974,502
Shareholders' equity of China Cord Blood Corporation
Ordinary shares - US$0.0001 par value, 250,000,000 shares authorized, 73,140,147 shares issued and 73,003,248 shares outstanding as of March 31, 2016 and 2017, respectively	7	50	50
Additional paid-in capital	136,044	936,417	873,654
Treasury stock, at cost (March 31, 2016 and 2017: 136,899 shares, respectively)	(409)	(2,815)	(2,815)
Accumulated other comprehensive income	3,549	24,428	84,779
Retained earnings	127,815	879,775	753,585
Total equity attributable to China Cord Blood Corporation	267,006	1,837,855	1,709,253
Non-controlling interests	682	4,694	4,172
Total equity	267,688	1,842,549	1,713,425
Commitments and contingencies
Total liabilities and equity	$ 752,980	¥ 5,182,912	¥ 4,687,927

Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($) $ / shares shares	Mar. 31, 2017 CNY (¥) shares	Mar. 31, 2016 $ / shares	Mar. 31, 2016 CNY (¥) shares
Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts	$ 6,808	¥ 46,858		¥ 38,261
Non-current accounts receivable, allowance for doubtful accounts	$ 10,278	¥ 70,744		¥ 62,633
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	73,140,147	73,140,147		73,140,147
Ordinary shares, shares outstanding	73,003,248	73,003,248		73,003,248
Treasury stock, shares	136,899	136,899		136,899

Consolidated Statements of Comprehensive Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($) $ / shares	Mar. 31, 2017 CNY (¥) ¥ / shares	Mar. 31, 2016 CNY (¥) ¥ / shares	Mar. 31, 2015 CNY (¥) ¥ / shares
Consolidated Statements of Comprehensive Income
Revenues	$ 110,411	¥ 759,978	¥ 662,999	¥ 635,122
Direct costs	(20,723)	(142,640)	(144,598)	(130,611)
Gross profit	89,688	617,338	518,401	504,511
Operating (expenses)/income
Research and development	(1,506)	(10,367)	(8,964)	(9,907)
Sales and marketing	(25,930)	(178,482)	(148,155)	(127,927)
General and administrative	(27,595)	(189,940)	(169,952)	(131,681)
Other operating income from a related party	3,823	26,316
Total operating expenses, net	(51,208)	(352,473)	(327,071)	(269,515)
Operating income	38,480	264,865	191,330	234,996
Other expense, net
Interest income	2,530	17,416	18,218	18,252
Interest expense	(17,349)	(119,418)	(107,967)	(101,102)
Foreign currency exchange losses	(6)	(38)	(972)	(231)
Dividend income	7	45	49,198	2,344
Impairment loss on available-for-sale equity securities	(368)	(2,533)	(8,361)
Others	868	5,974	(113)	861
Total other expense, net	(14,318)	(98,554)	(49,997)	(79,876)
Income before income tax	24,162	166,311	141,333	155,120
Income tax expense	(5,466)	(37,622)	(50,000)	(47,327)
Net income	18,696	128,689	91,333	107,793
Net income attributable to non-controlling interests	(363)	(2,499)	(363)	(501)
Net income attributable to China Cord Blood Corporation's shareholders	$ 18,333	¥ 126,190	¥ 90,970	¥ 107,292
Earnings per share:
Basic \| (per share)	$ 0.23	¥ 1.59	¥ 1.25	¥ 1.36
Diluted \| (per share)	$ 0.23	¥ 1.59	¥ 1.25	¥ 1.36
Other comprehensive (losses)/income, net of nil income taxes
Foreign currency translation adjustments	$ (3,241)	¥ (22,309)	¥ (19,124)	¥ 4,642
Unrealized holding (loss)/gain arising during the year	(5,895)	(40,575)	32,312	(25,675)
Reclassification adjustment for loss included in net income	368	2,533	8,361
Total other comprehensive (losses)/income	(8,768)	(60,351)	21,549	(21,033)
Comprehensive income	9,928	68,338	112,882	86,760
Comprehensive income attributable to non-controlling interests	(363)	(2,499)	(363)	(501)
Comprehensive income attributable to China Cord Blood Corporation's shareholders	$ 9,565	¥ 65,839	¥ 112,519	¥ 86,259

Consolidated Statement of Changes in Equity ¥ in Thousands, $ in Thousands	Share capital USD ($) shares	Share capital CNY (¥) shares	Additional paid-in capital USD ($)	Additional paid-in capital CNY (¥)	Treasury stock USD ($) shares	Treasury stock CNY (¥) shares	Accumulated other comprehensive income USD ($)	Accumulated other comprehensive income CNY (¥)	Retained earnings USD ($)	Retained earnings CNY (¥)	Non-controlling interests USD ($)	Non-controlling interests CNY (¥)	USD ($) shares	CNY (¥) shares
Balance at Mar. 31, 2014		¥ 50		¥ 798,221		¥ (2,815)		¥ 84,263		¥ 555,323		¥ 4,954		¥ 1,439,996
Balance, shares at Mar. 31, 2014 \| shares	73,140,147	73,140,147			(136,899)	(136,899)
Net income										107,292		501		107,793
Other comprehensive income/losses								(21,033)						(21,033)
Share-based compensation				16,457										16,457
Balance at Mar. 31, 2015		¥ 50		814,678		¥ (2,815)		63,230		662,615		5,455		¥ 1,543,213
Balance, shares at Mar. 31, 2015 \| shares	73,140,147	73,140,147			(136,899)	(136,899)							73,003,248	73,003,248
Net income										90,970		363		¥ 91,333
Other comprehensive income/losses								21,549						21,549
Share-based compensation				58,976										58,976
Dividend declared to holder of non-controlling interests												(1,646)		(1,646)
Balance at Mar. 31, 2016		¥ 50		873,654		¥ (2,815)		84,779		753,585		4,172		¥ 1,713,425
Balance, shares at Mar. 31, 2016 \| shares	73,140,147	73,140,147			(136,899)	(136,899)							73,003,248	73,003,248
Net income										126,190		2,499	$ 18,696	¥ 128,689
Other comprehensive income/losses								(60,351)					(8,768)	(60,351)
Share-based compensation				62,763										62,763
Dividend declared to holder of non-controlling interests												(1,977)		(1,977)
Balance at Mar. 31, 2017	$ 7	¥ 50	$ 136,044	¥ 936,417	$ (409)	¥ (2,815)	$ 3,549	¥ 24,428	$ 127,815	¥ 879,775	$ 682	¥ 4,694	$ 267,688	¥ 1,842,549
Balance, shares at Mar. 31, 2017 \| shares	73,140,147	73,140,147			(136,899)	(136,899)							73,003,248	73,003,248

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Operating activities:
Net income	$ 18,696	¥ 128,689	¥ 91,333	¥ 107,793
Adjustments to reconcile net income to net cash provided by operating activities:
Loss/(gain) on disposal of property, plant and equipment	(32)	(223)	(87)	23
Depreciation of property, plant and equipment	6,662	45,860	45,545	45,988
Amortization of intangible assets	672	4,621	4,621	4,621
Deferred income taxes	(3,071)	(21,145)	(1,060)	(912)
Provision for doubtful accounts	4,297	29,574	20,251	25,042
Interest on convertible notes	8,648	59,528	49,995	43,412
Amortization of debt issuance costs	573	3,947	3,712	3,610
Share-based compensation	9,042	62,241	58,684	16,535
(Gain)/loss on trading securities			515	(201)
Impairment loss on available-for-sale equity securities	368	2,533	8,361
Changes in operating assets and liabilities:
Trading securities			7,450	(7,531)
Accounts receivable	1,802	12,401	5,093	(19,273)
Inventories	(1,034)	(7,114)	(10,621)	(2,059)
Prepaid expenses and other receivables	1,020	7,023	(4,789)	17,410
Non-current deposits	2	12	11	12
Accounts payable	(144)	(991)	575	2,251
Accrued expenses and other payables	(369)	(2,541)	(28,866)	276
Deferred revenue	45,667	314,338	259,392	299,186
Amounts due to related parties	(7,246)	(49,879)	31,882	(545)
Income tax payable	415	2,859	(1,557)	7,510
Other non-current liabilities	6,668	45,899	40,557	51,718
Net cash provided by operating activities	92,636	637,632	580,997	594,866
Investing activities:
Purchase of property, plant and equipment	(3,587)	(24,693)	(16,630)	(37,797)
Proceeds from disposal of property, plant and equipment	40	272	150	13
Acquisition of available-for-sale equity securities	(9,611)	(66,154)		(4,647)
Net cash used in investing activities	(13,158)	(90,575)	(16,480)	(42,431)
Financing activities:
Repayment of bank loan	(8,717)	(60,000)	(60,000)	(60,000)
Proceeds from bank loan			60,000	60,000
Payment for dividends to holder of non-controlling interests			(1,646)
Net cash used in financing activities	(8,717)	(60,000)	(1,646)
Effect of foreign currency exchange rate change on cash and cash equivalents	2,148	14,785	8,896	1,319
Net increase in cash and cash equivalents	72,909	501,842	571,767	553,754
Cash and cash equivalents at beginning of year	437,067	3,008,422	2,436,655	1,882,901
Cash and cash equivalents at end of year	509,976	3,510,264	3,008,422	2,436,655
Non-cash investing activity:
Payable for property, plant and equipment	83	572	235
Supplemental disclosures of cash flow information:
Cash paid during the year for income taxes	8,355	57,506	52,967	47,234
Cash refund during the year for income taxes	232	1,598	350	18,404
Cash paid for interest, net of capitalized interest	$ 13,665	¥ 94,057	¥ 49,572	¥ 49,892

Principal activities, reorganization and reverse recapitalization, and basis of presentation	12 Months Ended
	Mar. 31, 2017
Principal activities, reorganization and reverse recapitalization, and basis of presentation
Principal activities, reorganization and reverse recapitalization, and basis of presentation	1 Principal activities, reorganization and reverse recapitalization, and basis of presentation (a)Principal activities China 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”). As of March 31, 2017, the Group has three operating cord blood banks in the Beijing municipality, the Guangdong province and the Zhejiang province, the PRC. The Company’s shares are listed on the New York Stock Exchange. The Group provides cord blood testing, processing 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. The operation of cord blood banks in the PRC is regulated by certain laws and regulations. Due to the lack of a consistent and well-developed regulatory framework, operation in the cord blood banking industry in the PRC involves significant ambiguities, uncertainties and risks. The industry is highly regulated and any unilateral changes in regulations by the authorities may have a significant adverse impact on the Group’s results of operations. (b)Reorganization and reverse recapitalization The Company was formerly known as Pantheon China Acquisition Corp. (“Pantheon”), a blank check company whose objective was to acquire, through a stock exchange, asset acquisition or other similar business combination, an operating business that has its principal operations located in the PRC, or control such operating business through contractual arrangements. On November 3, 2008, China Cord Blood Services Corporation (“CCBS”) and its shareholders executed a Share Exchange Agreement with the Company. Pursuant to the Share Exchange Agreement, shareholders of CCBS were entitled to exchange their shares in CCBS for up to 57,851,240 shares of common stock of the Company. Shareholders holding 100% and 76% of CCBS’s ordinary shares and redeemable ordinary shares (collectively the “Participating Shareholders”), respectively, executed the Share Exchange Agreement and agreed to sell their 93.94% equity interests in CCBS to the Company for a consideration of US$328,790 in exchange for 54,345,104 shares of common stock of the Company (valued at US$6.05 per share of common stock) (the “Share Exchange”). The Share Exchange was approved at the Company’s special meeting of shareholders held on June 29, 2009 and was completed on June 30, 2009. Upon completion of the Share Exchange, the Company was renamed China Cord Blood Corporation and the Company was redomiciled to the Cayman Islands. The 54,345,104 shares of common stock of the Company held by the Participating Shareholders represent 91.7% of the then outstanding shares of the Company upon completion of the Share Exchange. Further, management of CCBS continued as the majority of the senior management of the Company upon completion of the Share Exchange. CCBS was therefore treated as the accounting acquirer in the Share Exchange. Prior to the Share Exchange, the Company did not operate a business. The Share Exchange was thus accounted for as the issuance of securities by CCBS in exchange for the assets and liabilities of Pantheon, accompanied by a recapitalization to utilize the share structure of Pantheon as the legal acquirer. In August 2009, the Company entered into agreements to exchange 3,506,136 of its newly issued ordinary shares for the remaining 24% of redeemable shares of CCBS held by shareholders who previously elected not to participate in the Share Exchange, on terms substantially similar to those of the Share Exchange. Upon the completion of such exchange, all the remaining redeemable ordinary shares of CCBS converted into ordinary shares of the Company, which carry no redemption rights, and CCBS became a wholly owned subsidiary of the Company. CCBS was incorporated in the Cayman Islands in January 2008 under the Cayman Islands Companies Law as an exempted company with limited liability. CCBS was incorporated as part of the reorganization of China Stem Cells Holdings Limited (“CSC Holdings”), which had two main operating subsidiaries in the PRC, Beijing Jiachenhong Biological Technologies Co., Ltd. (“Beijing Jiachenhong”) and Guangzhou Municipality Tianhe Nuoya Bio-engineering Co., Ltd. (“Guangzhou Nuoya”) at the time of the reorganization. Beijing Jiachenhong was established under the laws of the PRC in June 2001 as a domestic limited liability company. It became a Sino-Foreign Investment Enterprise in September 2003 and became a Wholly Foreign Owned Enterprise (“WFOE”) in March 2005. Beijing Jiachenhong is engaged in the provision of umbilical cord blood storage and ancillary services in the Beijing municipality, the PRC. In May 2007, China Stem Cells (South) Company Limited (“CSC South”), a then 90% subsidiary of the Company, acquired the entire equity interest of Guangzhou Nuoya for consideration of RMB30,949. Guangzhou Nuoya was established under the laws of the PRC in June 1997 as a domestic limited liability company. It became a WFOE in May 2007. Guangzhou Nuoya has been granted the right to operate cord blood banks in the Guangdong province, the PRC. In November 2012, CSC South repurchased 10% of its shares from Cordlife (Hong Kong) Limited, a subsidiary of Cordlife Group Limited (“CGL”), at a consideration of US$16,800. The shares repurchased were subsequently cancelled. The difference between the consideration paid and the carrying amount of non-controlling interest equal to RMB70,774 at the repurchase date was charged to additional paid-in capital. Concurrently, CGL acquired 7,314,015 shares, which were held by the Company as treasury stock (representing 10% of the Company’s ordinary shares at the time of the transaction) at a consideration of US$20,800. The difference between the consideration received from sale of the shares over the cost of the treasury shares equal to RMB3,341 was credited to additional paid-in capital. As a result, the Company received a net proceed of US$4,000 (RMB25,320) from the above two transactions and CSC South and its subsidiary became wholly owned subsidiaries of the Company. In December 2010, a non-wholly owned subsidiary, Zhejiang Lukou Biotechnology Co., Ltd. (“Zhejiang Lukou”), was established. The Group holds a 90% equity interest in Zhejiang Lukou through capital injection of RMB45,000, while the non-controlling shareholders contributed plant and equipment with fair value of RMB5,000 in return for the remaining 10% equity interests. In February 2011, the Group acquired the right to operate the cord blood bank in the Zhejiang province, the PRC, from a third party at a consideration of US$12,500 (equivalent to RMB82,124 (Note 8)). (c)Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). This basis of accounting differs in certain material respects from that used for the preparation of the statutory books of the Company’s consolidated subsidiaries, which are prepared in accordance with the accounting principles and the relevant financial regulations applicable in the place of domicile of the respective entities in the Group. The accompanying consolidated financial statements reflect necessary adjustments not recorded in the statutory books of account of the Company’s consolidated subsidiaries to present them in conformity with U.S. GAAP.

Summary of significant accounting policies

12 Months Ended

Mar. 31, 2017

Summary of significant accounting policies

Summary of significant accounting policies

2 Summary of significant accounting policies

(a)Principles of consolidation

The accompanying consolidated financial statements include the financial statements of the Company, its majority-owned subsidiaries and a variable interest entity in which the Company is the primary beneficiary. 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 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 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 selling price for individual deliverables in multiple-element revenue arrangements, 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, the realizability of inventories and deferred tax assets and the fair values of share-based compensation.

(c)Foreign currency transactions and translation

The reporting currency of the Company is Renminbi (“RMB”).

The functional currency of Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou is RMB and the functional currency of the Company is United States dollars (“US$”). The functional currencies of subsidiaries of the Company outside the PRC are either US$ or Hong Kong dollars.

Transactions of Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou denominated in currencies other than RMB are translated into RMB at the exchange rates quoted by the People’s Bank of China (the “PBOC”) prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates quoted by the PBOC at the balance sheet date. The resulting exchange differences are recorded in foreign currency exchange gains/(losses) in the consolidated statements of comprehensive income.

Transactions of the Company and subsidiaries outside the PRC denominated in currencies other than their functional currencies are translated into their functional currencies at the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into their functional currencies using the applicable exchange rates at the balance sheet date. The resulting exchange differences are recorded in foreign currency exchange gains/(losses) in the consolidated statements of comprehensive income.

Assets and liabilities of the Company and subsidiaries outside the PRC are translated into RMB using the exchange rate at the balance sheet date. Revenues and expenses are translated at the average exchange rates prevailing during the year. The adjustments resulting from translation of financial statements of the Company and subsidiaries outside the PRC are recorded as a separate component of accumulated other comprehensive income within shareholders’ equity.

RMB is not a fully convertible currency. All foreign exchange transactions involving RMB must take place either through the PBOC or other institutions authorized to buy and sell foreign exchange. The exchange rates adopted for the foreign exchange transactions are the rates of exchange quoted by the PBOC.

For the convenience of the readers, certain amounts as of and for the year ended March 31, 2017 included in the accompanying consolidated financial statements have been translated into U.S. dollars at the rate of US$1.00 = RMB6.8832, being the spot exchange rate of U.S. dollars in effect on March 31, 2017 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 March 31, 2017 or at any other date. The U.S. dollars convenience translation is not required under U.S. GAAP and all U.S. dollars convenience translation amounts in the accompanying consolidated financial statements are unaudited.

(d)Cash and cash equivalents

Cash and cash equivalents include short-term, highly liquid investments with original maturities of three months or less. Cash and cash equivalents of the Group are mainly maintained in the PRC and are denominated in several currencies. As of March 31, 2016 and 2017, cash and cash equivalents maintained in the PRC amounted to RMB2,820,472 and RMB3,432,022 (US$498,608), respectively. The Group’s cash and cash equivalents denominated in U.S. dollars, Australian dollars, Renminbi, Hong Kong dollars and Singapore dollars are as follows:

	March 31,
	2016		2017
	Original currency	RMB	Original currency	RMB

U.S. dollars	3,702	24,017	5,707	39,476
Australian dollars	1	5	1	6
Renminbi	2,820,503	2,820,503	3,432,042	3,432,042
Hong Kong dollars	197,049	163,885	43,679	38,735
Singapore dollars	2	12	1	5

Cash and cash equivalents held at financial institutions located in the PRC and Hong Kong are insured up to certain amount. Management believes that these major financial institutions have high credit ratings.

(e)Investment securities

Management determines the appropriate classification of its investment securities at the time of purchase and reevaluates such designations at each reporting date.

Trading securities are recorded at fair value. Realized and unrealized holding gains and losses, net of the related tax effect, on trading securities are included in earnings.

Available-for-sale equity securities are recorded at fair value. Unrealized holding gains and losses, net of the related tax effect, on available-for-sale equity securities are excluded from earnings and are reported as a separate component of accumulated other comprehensive income until realized. Realized gains and losses from the sale of available-for-sale equity securities are determined on a specific-identification basis. Where the fair value of an investment in equity securities is not readily determinable, the investment is stated at cost.

A decline in the market value of available-for-sale securities that is deemed to be other-than-temporary results in an impairment to reduce the carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. In determining whether an impairment is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until a market price recovery and considers whether evidence indicating the cost of the investment is recoverable outweighs evidence to the contrary. Evidence considered in this assessment includes the reasons for the impairment, the severity and duration of the impairment, forecasted performance of the investee, and the general market condition in the geographic area or industry the investee operates in.

Dividend income is recognized in other income when earned.

(f)Accounts receivable

Accounts receivable represent amounts due from subscribers for cord blood processing and storage services, which are recognized in accordance with the Company’s revenue recognition policies (Note 2(k)). Installments receivable from subscribers which are due for repayment in over one year under the deferred payment option are classified as non-current accounts receivable. Accounts receivable are stated net of allowance for doubtful accounts.

The allowance for doubtful accounts is the Group’s best estimate of losses in the Group’s accounts receivable, which is determined based on historical write-off experience, customer specific facts and economic conditions.

The Group reviews its allowances for doubtful accounts quarterly. Outstanding account balances are reviewed on a pooled basis by ageing of such balances. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Group’s PRC subsidiaries are required to comply with local tax requirements on the write-offs of doubtful accounts, which allow for such write-offs only when the related account balances are aged over three years and sufficient evidence is available to prove the debtor’s inability to make payments. For financial reporting purposes, the Company’s PRC subsidiaries generally record write-offs of doubtful accounts at the same time the local tax requirements for the write-offs are met. As a result, there are generally time lags between the time when a provision for doubtful accounts is recorded and the time the doubtful accounts are written off against the related allowance. The Group does not have any off-balance-sheet credit exposure related to its customers.

(g)Inventories

The Group collects, tests, freezes and stores donated umbilical cord blood for future transplantation or research purposes in return for a fee. Collection, testing and processing costs attributable to the processing of donated umbilical cord blood are capitalized as inventories, stated at the lower of cost or market on a weighted-average basis, and recognized as direct costs when revenue is recognized when the cord blood unit is delivered and the risk of loss is transferred to the recipient. Cost comprises direct materials, direct labor and an allocation of production overheads. Inventories that are not expected to be realized within 12 months from the balance sheet date are classified as non-current assets. Consumables and supplies are classified as current assets.

(h)Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation.

Depreciation on property, plant and equipment is calculated based on the straight-line method (after taking into account their respective estimated residual values) over the estimated useful lives of the assets as follows:

Buildings		37.5 - 50 years
Leasehold improvements		Shorter of the lease term or estimated useful lives of 10 years
Machineries		5 - 10 years
Motor vehicles		5 years
Furniture, fixtures and office equipment		3 - 5 years

No depreciation expense is provided in respect of construction-in-progress.

Interest expense incurred related to the construction of property, plant and equipment is capitalized. The capitalization of interest expense as part of the cost of a qualifying asset commences when expenditures for the asset have been made, activities that are necessary to get the asset ready for its intended use are in progress and interest cost is being incurred. The capitalization period ends when the asset is substantially complete and ready for its intended use.

Depreciation of property, plant and equipment attributable to the processing of donated umbilical cord blood for future transplantation is capitalized as part of inventories, and is expensed to direct costs when the cord blood unit is delivered and the risk of loss is transferred to the recipient.

(i)Intangible assets

Intangible assets represent the operating rights to operate cord blood bank and are stated at the fair value on the date of acquisition less accumulated amortization. Where payment for an operating right is non-deductible for tax purpose, the simultaneous equations method is used to record the assigned value of the asset and the related deferred tax liability, such that the carrying amount of the asset upon initial recognition less deferred tax liability recognized equals the amount paid for the asset. Amortization expenses are recognized on a straight-line basis over the estimated useful life of the operating rights of 30 years.

(j)Impairment of long-lived assets

Long-lived assets, including property, plant and equipment and intangible assets with finite useful lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset or asset group to the estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flows models, quoted market values and third-party independent appraisals, as considered necessary. No impairment of long-lived assets was recognized for the years ended March 31, 2015, 2016 and 2017.

(k)Revenue recognition

The Group receives fees for collecting, testing, freezing and storing of cord blood units. Once the cord blood units are collected, tested, screened and successfully meet all of the required attributes, the Group freezes the units and stores them in a cryogenic freezer. Under the cord blood processing and storage agreement (“Agreement”) signed with the customer, the Group charges separate processing fee and storage fees to the customer and such Agreement typically provides for a storage period of eighteen years with successive one-year renewal periods after eighteen years.

The Agreement is a multiple-element arrangement, which includes (i) the processing of cord blood unit and (ii) the storage of cord blood unit. The Group accounts for the arrangement under the ASC 605-25, Revenue Recognition — Multiple-Element Arrangements. In accordance with ASC 605-25, revenue arrangements that include multiple elements are analyzed to determine whether the deliverables can be divided into separate units of accounting or treated as a single unit of accounting. The consideration received is allocated among the separate units of accounting based on their relative selling prices determined based on prices of these elements as sold on a stand-alone basis, and the applicable revenue recognition criteria are applied to each of the separate units. In an arrangement with multiple deliverables, the delivered product or service shall be considered a separate unit of accounting when the following criteria are met: (1) the delivered item or items have value to the customer on a standalone basis; and (2) if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item or items is considered probable and substantially in the control of the Group. Based on evaluation of the criteria, the Group has determined that the cord blood processing services and cord blood storage services are separate units.

Pursuant to the Agreement, no penalty is charged to customers for early termination of the cord blood storage service.

The Group considers all reasonably available information to allocate the overall arrangement fee to cord blood processing and cord blood storage services based on their relative selling prices.

The Group recognizes processing fee revenue upon successful completion of processing services and when the cord blood unit meets all the required attributes for storage, and recognizes the storage fee revenues ratably over the annual storage period.

During the years ended March 31, 2015, 2016 and 2017, the Group offered its customers three payment options:

(i)

Payment of the processing fee upon delivery of the cord blood unit to the Group’s premises for processing and the annual storage fee in advance at the beginning of each one-year renewal period;

(ii)

Payment of the processing fee upon delivery of the cord blood unit to the Group’s premises for processing and an upfront payment of storage fees for a period of eighteen years; and

(iii)

Payment of the processing fee by installment over multiple periods and the annual storage fee in advance at the beginning of each one-year renewal period or an upfront payment of storage fees for a period of eighteen years paid by four installments. Certain installment option includes an initial processing fee payment upon delivery of the cord blood unit to the Group’s premises for processing and an incremental annual payment for the consecutive periods, representing a surcharge to the total amount of processing fees payable under payment options (i) and (ii).

Under payment option (iii), installments due for payment beyond one year are classified as non-current accounts receivable, and the revenue is recorded at the present value of the payments. The difference between the present value of the receivable and the nominal or principal value of the processing fee is recognized as interest income over the contractual repayment period using the effective interest rate method. The interest rate used to determine the present value of total amount receivable is the rate at which the subscribers can obtain financing of a similar nature from other sources at the date of the transaction.

The recognition of storage revenue is ceased when the collectability of the storage fees from the customers is not reasonably assured due to delinquency of payment by the customers. During the years ended March 31, 2015, 2016 and 2017, the Group ceased recognizing storage revenue from subscribers who were delinquent for more than 24 months.

Fees derived from the provision of donated cord blood for transplantation and research are recognized when the cord blood unit is delivered and the risk of loss is transferred to the recipient.

The Group’s revenues are net of value-added tax collected on behalf of tax authorities at 6% on the invoiced amount in respect of the services rendered.

(l)Research and development costs

Research and development costs are incurred for research activities conducted to enhance collection and storage technologies, and measures to improve the results in umbilical cord blood stem cells extraction and separation. They also include research expenses on the use of cord blood stem cells in different medical treatments. Research and development costs are expensed as incurred.

(m)Advertising costs

Advertising costs are expensed as incurred and included in sales and marketing expenses in the consolidated statements of comprehensive income in the amount of RMB30,899, RMB35,477 and RMB32,331 (US$4,697) for the years ended March 31, 2015, 2016 and 2017, respectively.

(n)Employee benefits

Contributions to employee benefits (which are defined contribution plans) are charged to the consolidated statements of comprehensive income when the related employee service is provided. The Group does not have any defined benefit plans.

(o)Debt issuance costs

Costs incurred by the Company that are directly attributable to the issuance of the convertible notes are deferred and charged to the consolidated statements of comprehensive income using an effective interest rate method from the date the convertible notes were issued to the earliest date the holders of the convertible notes can demand payment, which is five years.

(p)Income taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases, tax loss carry forwards and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated statements of comprehensive income in the period that includes the enactment date.

The Group recognizes in the consolidated financial statements the impact of a tax position if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the consolidated statements of comprehensive income.

A deferred tax liability is not recognized for the excess of the Company’s financial statements carrying amount over the tax base of its investment in a foreign subsidiary, if the subsidiary has invested or will invest the undistributed earnings indefinitely.

(q)Commitments and contingencies

In the normal course of business, the Group is subject to contingencies, including legal proceedings and claims that relate to a wide range of matters, including, among others, product liability. An accrual for a loss contingency is recognized when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed.

(r)Earnings per share

Basic earnings per ordinary share is computed by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year using the two-class method. Under the two-class method, net income attributable to ordinary shareholders is allocated between ordinary shares and participating securities based on contractual participating rights of security to share in undistributed earnings as if all of the earnings had been distributed.

Diluted earnings per share is computed by dividing net income attributable to ordinary shareholders, as adjusted to exclude any income or expenses related to dilutive ordinary equivalents shares by the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the period. Dilutive potential ordinary shares consist of the ordinary shares issuable upon the conversion of the convertible notes applying the if-converted method. Dilutive potential ordinary shares in the diluted earnings per share computation are excluded to the extent that their effect is anti-dilutive.

(s)Share-based compensation

The Group recognizes share-based payments as compensation cost and measures such cost based on the grant date fair value of the equity instrument issued. Compensation expense is recognized on a straight-line basis over the requisite service period, which is generally the vesting period.

(t)Segment reporting

The Group has one operating segment, as defined by ASC 280, Segment Reporting, which is processing and storage of cord blood units. All of the Group’s operations and customers are located in the PRC. Consequently, no geographic information is presented.

(u)Fair value measurement

The Group utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Group determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

See Note 22 to the consolidated financial statements.

(v)Recently issued accounting standards

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), to supersede nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing U.S. GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. This guidance was effective for annual reporting and interim periods beginning after December 15, 2016 and allows for either full retrospective or modified retrospective application, with early adoption not permitted. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”), which amends ASU 2014-09 and defers its effective date to fiscal years and interim reporting periods beginning after December 15, 2017. ASU 2015-14 permits earlier application only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently in the process of analyzing each of the Company’s revenue streams in accordance with the new revenue standard to determine the impact on the Company’s consolidated financial statements. The Company plans to continue the evaluation, analysis, and documentation of its adoption of ASU 2014-09 (including those subsequently issued updates that clarify its provisions) in 2017 as the Company works towards the implementation and finalizes its determination of the impact that the adoption will have on its consolidated financial statements.

In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”), to simplify the presentation of deferred income taxes by eliminating the requirement to separate deferred tax assets and liabilities into current and non-current amounts. ASU 2015-17 requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as non-current and was adopted by the Company in the current fiscal year ended March 31, 2017. Upon the adoption of this ASU 2015-17, current deferred tax assets of RMB14,056 and current deferred tax liabilities of RMB14,300 as of March 31, 2016 were reclassified as non-current deferred tax assets and liabilities respectively.

In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 requires all equity investments to be measured at fair value, with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). ASU 2016-01 will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 specifies the accounting for leases. For operating leases, ASU 2016-02 requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. ASU 2016-02 also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. ASU 2016-02 is effective for publicly-traded companies for annual reporting periods, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which relates to accounting for employee share-based payments. ASU 2016-09 addresses several aspects of the accounting for share-based payment award transactions, including (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification in the statement of cash flows; and (d) accounting for forfeitures of share-based payments. ASU 2016-09 will be effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company adopted ASU 2016-09 in the current fiscal year ended March 31, 2017 and there is no material impact on the consolidated financial statements upon adopting this standard.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application will be permitted for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact that the standard will have on its consolidated financial statements and related disclosures.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows — Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which clarifies the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. ASU 2016-15 is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that the standard will have on its consolidated financial statements and related disclosures.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown in the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and interim period within those fiscal years. Early adoption is permitted, including adoption in an interim period. The standard should be applied using a retrospective transition method to each period presented. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”), which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. ASU 2017-01 should be applied prospectively on or after the effective date. The Company will evaluate the impact of adopting this standard prospectively upon any transactions of acquisitions or disposals of assets or businesses.

In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory, which modifies existing requirements regarding measuring inventory at the lower of cost or market. Under existing standards, the market amount requires consideration of replacement cost, net realizable value (“NRV”), and NRV less an approximately normal profit margin. The new ASU replaces market with NRV, defined as estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This eliminates the need to determine and consider replacement cost or NRV less an approximately normal profit margin when measuring inventory. The amendments are effective for the fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early application is permitted. The Company has assessed this ASU’s impacts on the Company’s consolidated results of operations and financial condition and there is no material impact upon adopting this standard.

Accounts receivable, net

12 Months Ended

Mar. 31, 2017

Accounts receivable, net

Accounts receivable, net

3 Accounts receivable, net

(a) Accounts receivable consist of the following:

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Accounts receivable	390,550		365,283		53,069
Less: Allowance for doubtful accounts	(100,894	)	(117,602	)	(17,086	)

Total accounts receivable, net	289,656		247,681		35,983


Representing:

Current portion:
- Processing fees	78,649		71,343		10,365
- Storage fees	43,618		39,904		5,797
- Others	2,378		1,286		187

	124,645		112,533		16,349
Non-current portion:
- Processing fees	165,011		135,148		19,634

Total accounts receivable, net	289,656		247,681		35,983

Non-current gross accounts receivable as of March 31, 2017 are due for payment as follows:

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2019	33,012	4,796
2020	29,612	4,302
2021	26,450	3,843
2022	24,663	3,583
2023 and thereafter	129,691	18,842

	243,428	35,366

(b) An aging analysis of gross accounts receivable based on due date is as follows:

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Not past due	276,405	248,865	36,156
Within one year past due	48,266	38,431	5,583
Between one to two years past due	33,170	35,556	5,166
Over two years past due	32,709	42,431	6,164

Total gross accounts receivable	390,550	365,283	53,069

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Balance at beginning of year	63,025		83,835		100,894		14,658
Charged to allowance for doubtful accounts	25,042		20,251		29,574		4,297
Write-off charged against the allowance for the year	(4,232	)	(3,192	)	(12,866	)	(1,869	)

Balance at end of year	83,835		100,894		117,602		17,086

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Inventories

12 Months Ended

Mar. 31, 2017

Inventories

Inventories

4 Inventories

Inventories consist of the following:

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Current portion:
- Consumables and supplies	28,326	30,987	4,502

Non-current portion:
- Processing costs capitalized in donated umbilical cord blood	64,322	68,775	9,992

Total current and non-current inventories	92,648	99,762	14,494

Collection, testing and processing costs attributable to the processing of donated umbilical cord blood are capitalized as inventories. Management assesses the recoverability of such inventories with reference to future projections of matching fees, number of donated cord blood units of the Group, demand for cord blood units for transplantation and research purposes, and the probability of finding a match in light of the number of units held. Based on such assessments, the management considers that the cord blood processing costs capitalized are recoverable and no provision for inventories was made during the years ended March 31, 2015, 2016 and 2017.

The Group recognizes the revenue for one matched donated umbilical cord blood unit upon shipment or delivery of the unit and recognizes the cost of the cord blood unit equal to the carrying amount of the total inventory (donated umbilical cord blood units) divided by the estimated future number of successful matches which would become realized through sales during the estimated weighted average remaining useful life of the donated umbilical cord blood unit. As of March 31, 2017, the weighted average remaining useful life of the donated umbilical cord blood units was estimated to be approximately 19 years. Based on the historical increase in the number of donated umbilical cord blood matching inquiries and the number of successful matches of donated umbilical cord blood units, the Group estimated the number of successful matches of donated umbilical cord blood units will increase by 7% per annum. There were no material changes to the estimates and assumptions underlying the methodology for the years ended March 31, 2015, 2016 and 2017.

Prepaid expenses and other receivables

12 Months Ended

Mar. 31, 2017

Prepaid expenses and other receivables

Prepaid expenses and other receivables

5 Prepaid expenses and other receivables

Prepaid expenses and other receivables consist of the following:

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Prepaid expenses	17,294	12,257	1,781
VAT tax receivables	798	1,036	151
Other receivables	6,320	4,231	614

Total prepaid expenses and other receivables	24,412	17,524	2,546

Other receivables mainly include advance payments to employees and rental deposits.

Property, plant and equipment, net

12 Months Ended

Mar. 31, 2017

Property, plant and equipment, net

Property, plant and equipment, net

6 Property, plant and equipment, net

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

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Buildings	584,661		593,369		86,205
Leasehold improvements	14,864		14,864		2,159
Machineries	149,213		154,359		22,425
Motor vehicles	15,808		17,152		2,492
Furniture, fixtures and equipment	41,099		44,266		6,431
Construction-in-progress	1,102		2,806		408

	806,747		826,816		120,120
Less: Accumulated depreciation	(232,180	)	(275,382	)	(40,007	)

Total property, plant and equipment, net	574,567		551,434		80,113

Depreciation expense of property, plant and equipment is allocated to the following expense items:

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

Direct costs	28,819	29,812	29,883	4,341
Research and development	2,231	1,118	1,372	199
Sales and marketing	2,530	3,070	3,051	443
General and administrative	12,408	11,545	11,554	1,679

Total depreciation expense	45,988	45,545	45,860	6,662

As of March 31, 2016, buildings with carrying amount of RMB100,479 were collateralized for short-term bank loans of RMB60,000 (Note 11).

Non-current deposits

12 Months Ended

Mar. 31, 2017

Non-current deposits

Non-current deposits

7 Non-current deposits

Non-current deposits consist of the following:

		March 31,
	Note	2016	2017	2017
		RMB	RMB	US$

Investment deposit	(i)	218,358	232,824	33,825
Deposit for purchase of machineries		21	4,663	677

Total non-current deposits		218,379	237,487	34,502

Note:

(i)

The Group previously entered into a Letter of Intent with a third party (the “Potential Seller”) for a potential acquisition of the equity interests in a company in the healthcare industry with a refundable earnest money deposit of US$33,660 (RMB232,824). Due to the change in circumstances, the parties entered into a subsequent agreement in May 2017 regarding the return of the earnest money deposit, with the Potential Seller providing a performance guarantee to the Company.

Intangible assets, net

12 Months Ended

Mar. 31, 2017

Intangible assets, net

Intangible assets, net

8 Intangible assets, net

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Cord blood bank operating rights	138,628		138,628		20,140
Less: Accumulated depreciation	(27,321	)	(31,942	)	(4,641	)

Total intangible assets, net	111,307		106,686		15,499

Intangible assets represent the cord blood bank operating rights in the Guangdong province and the Zhejiang province, the PRC.

The cord blood bank operating right in the Guangdong province was acquired through the acquisition of Guangzhou Nuoya in May 2007. The estimated useful life of the operating right is thirty years. Amortization expenses of the operating right in the Guangdong province were RMB971, RMB971 and RMB971 (US$141) for the years ended March 31, 2015, 2016 and 2017, respectively. The operating right is subject to renewal and the next renewal is due in May 2018.

In February 2011, the Group acquired the right to operate the cord blood bank in the Zhejiang province from a third party for cash consideration of US$12,500 (equivalent to RMB82,124). Payment for the operating right is non-deductible for tax purpose. The simultaneous equations method is used to record the assigned value of the asset of RMB109,499 and a related deferred tax liability of RMB27,375 (Note 17(c)), in accordance with the guidance in ASC 740-10-25-51, such that the carrying amount of the asset upon initial recognition less the related deferred tax liability equals the cash consideration paid. The estimated useful life of the Zhejiang operating right is thirty years. Amortization expenses were RMB3,650, RMB3,650 and RMB3,650 (US$531) for the years ended March 31, 2015, 2016 and 2017, respectively. The operating right is subject to renewal and the next renewal is due in September 2019.

The Group determined that a thirty-year period as useful life of the cord blood bank operating rights to be appropriate, following the pattern in which the expected benefits of the asset will be consumed or otherwise used up. The Group’s renewal period with the provincial governmental authorities generally is every three (for cord blood banks in Guangdong and Zhejiang) or nine (for cord blood bank in Beijing) years. The Group has historically renewed cord blood bank operating rights without incurring any significant costs. There are no other legal or regulatory provisions that limit the useful life of the cord blood bank operating rights or that cause the cash flows and useful life of such cord blood bank operating rights to be constrained. In addition, the Group expects the effect of obsolescence, demand, competition, and other economic factors to be minimal.

The Group engaged independent third party valuation firms in determining the fair values of the cord blood bank operating rights during the acquisitions. The fair values of the cord blood bank operating rights were determined using an income approach and considered assumptions (including turnover rate) that a market participant would make consistent with the highest and best use of the asset by market participants. The periods of expected cash flows used to measure the fair values of the cord blood bank operating rights were thirty years. Without evidence to the contrary, the Group expects that the cord blood bank operating rights will be renewed at the same rate as a market participant would expect, and no other factors would indicate a different useful life is more appropriate. Accordingly, in the absence of other entity-specific factors, the useful life of the cord blood bank operating rights was determined to be thirty years.

A straight-line method of amortization has been adopted as the pattern in which the economic benefits of the operating rights are used up cannot be reliably determined. Estimated amortization expenses for the years ending after March 31, 2017 are:

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2018	4,621	671
2019	4,621	671
2020	4,621	671
2021	4,621	671
2022	4,621	671
2023 and thereafter	83,581	12,144

Total amortization expenses	106,686	15,499

Available-for-sale equity securities

12 Months Ended

Mar. 31, 2017

Available-for-sale equity securities

Available-for-sale equity securities

9 Available-for-sale equity securities

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Listed equity securities
Life Corporation Limited - listed on Australian Securities Exchange	1,607	214	31
Cordlife Group Limited - listed on Singapore Exchange	161,127	131,479	19,101

	162,734	131,693	19,132


Listed fund investments	—	69,097	10,039

	162,734	200,790	29,171

As of March 31, 2016 and 2017, the Group held 8,122,222 ordinary shares in Life Corporation Limited (“LFC”) and 25,516,666 ordinary shares in CGL. LFC is principally engaged in the provision of funeral and related services and is listed on the Australian Securities Exchange. CGL is a provider of cord blood banking services with operations in Singapore, Hong Kong, India, Indonesia and the Philippines, and is listed on the Singapore Exchange. CGL is also a controlling shareholder of a Malaysia-based cord blood banking operator. As of March 31, 2016 and 2017, the Group’s equity interest in LFC and CGL was 11.4% and 9.8%, respectively.

During the year ended March 31, 2017, the Group made an investment in industry specific fund for US$10,000 (RMB66,154). Such fund investments are classified as available-for-sale equity securities since the Group has no immediate intention to sell them and they have readily determinable fair value.

Dividends received from CGL during the years ended March 31, 2015, 2016 and 2017 of RMB2,344, RMB17,007 and nil, respectively, were recorded in dividend income in the consolidated statements of comprehensive income.

During the year ended March 31, 2016 and 2017, the Group recorded impairment loss on available-for-sale equity securities of RMB8,361 and RMB2,533 (US$368), respectively, which were related to the Group’s investment in LFC. Having considered the extent of the decline in the fair value of the ordinary shares of LFC, the length of time to which the market value of the shares had been below cost, and the financial condition and near-term prospects of LFC, management concluded that the decline in value on the investment in LFC was other-than-temporary. As a result, impairment loss of RMB8,361 and RMB2,533 (US$368) was recognized in earnings, which was transferred from other comprehensive income, during the years ended March 31, 2016 and 2017 respectively.

As of March 31, 2016, the cost basis of the available-for-sale equity securities was RMB36,976, total unrealized holding losses of LFC was RMB1,276 and total unrealized holding gains of CGL was RMB130,794. The aggregate fair value was RMB162,734 as of March 31, 2016.

As of March 31, 2017, the cost basis of the available-for-sale equity securities was RMB100,597 (US$14,615), total unrealized holding losses of LFC was RMB185 (US$27), total unrealized holding gains of CGL was RMB92,025 (US$13,370) and total unrealized holding losses of other investment was RMB72 (US$10). The aggregate fair value was RMB200,790 (US$29,171) as of March 31, 2017.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Other investment

12 Months Ended

Mar. 31, 2017

Other investment

Other investment

10 Other investment

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Unlisted equity securities, at cost	189,129	189,129	27,477

As of March 31, 2016 and 2017, the Group owned 24% equity interest of Shandong Province Qilu Stem Cells Engineering Co., Ltd. (“Qilu Stem Cells”), which operates a cord blood bank in the Shandong province, the PRC. Since the Group does not have any representation in the board of directors and does not have significant influence over the financial and operating decisions of Qilu Stem Cells, the investment is stated at cost as the equity interests do not have a readily determinable fair value. The Group performed an impairment assessment based on Qilu Stem Cells’s operational performance, local demographic trend and the economic environment of the Shandong province and no impairment indicator was identified for the years ended March 31, 2016 and 2017, respectively.

Dividends declared and paid by Qilu Stem Cells during the years ended March 31, 2015, 2016 and 2017 of nil, RMB31,800 and nil were recognized in dividend income in the consolidated statements of comprehensive income.

Bank loan	12 Months Ended
Bank loan	Mar. 31, 2017
Bank loan
Bank loan	11 Bank loan On August 25, 2014, the Group borrowed RMB60,000 from Hangzhou Bank for one year. The loan bore a monthly fixed interest rate at 0.6%. The Group repaid the bank loan in full on August 11, 2015. On October 9, 2015, the Group borrowed RMB60,000 from Hangzhou Bank for one year. The loan bore a monthly fixed interest rate at 0.46%. The Group repaid the bank loan in full on September 13, 2016. The loan was secured by the Group’s certain buildings (Note 6).

Accrued expenses and other payables

12 Months Ended

Mar. 31, 2017

Accrued expenses and other payables

Accrued expenses and other payables

12 Accrued expenses and other payables

Accrued expenses and other payables consist of the following:

		March 31,
	Note	2016	2017	2017
		RMB	RMB	US$

Insurance premium received on behalf of insurance company	(i)	23,591	28,348	4,119
Other tax payables		2,489	4,365	634
Accrued salaries, bonus and welfare expenses		17,343	8,770	1,274
Accrued consultancy and professional fees		3,601	4,961	721
Payable for property, plant and equipment		1,119	1,098	160
Other payables	(ii)	13,161	17,620	2,559

Total accrued expenses and other payables		61,304	65,162	9,467

Notes:

(i)

The Group has an agreement with an insurance company under which the Group collects insurance premiums on behalf of the insurance company from customers who store umbilical cord blood in the Group’s cord blood bank and are enrolled in the insurance scheme of the insurance company. Thus, the amount of gross storage fees includes insurance premiums collected on behalf of the insurance company. The amount attributable to the insurance premiums is included in current and non-current (collected and payable over one year) other payables and is not recognized as revenue. The Group has no performance obligation to the customer with respect to the insurance policy.

(ii)

Other payables mainly include fee refundable to customers whose cord blood unit does not qualify for subsequent storage and other procurement payables.

Deferred revenue

12 Months Ended

Mar. 31, 2017

Deferred revenue

Deferred revenue

13 Deferred revenue

(a) Deferred revenue consists of the following:

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Payments by customers prior to completion of cord blood processing services	96,857	129,880	18,869
Unearned storage fees	1,482,074	1,763,389	256,187

Total current and non-current deferred revenue	1,578,931	1,893,269	275,056


Representing:
Current portion	257,692	323,690	47,026
Non-current portion	1,321,239	1,569,579	228,030

Total current and non-current deferred revenue	1,578,931	1,893,269	275,056

(b) An analysis of the unearned storage fees is as follows:

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Balance at beginning of year	926,756		1,232,243		1,482,074		215,318
Deferred revenue arising from new customers	509,334		493,354		559,588		81,297
Credited to income	(203,847	)	(243,523	)	(278,273	)	(40,428	)

Balance at end of year	1,232,243		1,482,074		1,763,389		256,187

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References + Details

Convertible notes, net

12 Months Ended

Mar. 31, 2017

Convertible notes, net

Convertible notes, net

14 Convertible notes, net

On April 27, 2012, the Company completed the sale of US$65,000 in aggregate principal amount of 7% coupon interest rate senior unsecured convertible notes to Brilliant China Healthcare Investment Limited (formerly known as KKR China Healthcare Investment Limited) (“BCHIL”) (the “KKR Notes”). The KKR Notes are convertible into the Company’s ordinary shares at a conversion price of US$2.838 per share. The Company received gross proceeds of US$65,000 and incurred debt issuance costs of RMB14,260 from the issuance of the KKR Notes. The KKR Notes are senior unsecured obligations, maturing on April 27, 2017 and are not redeemable prior to their maturity at the Company’s option. The KKR Notes are convertible at any time in whole or in part, into the Company’s ordinary shares at the conversion price, subject to customary anti-dilution adjustments for significant corporate events. On the maturity date, the Company is obligated to pay a redemption amount on the unconverted portion of the KKR Notes that is calculated to provide a 12% Internal Rate of Return (“IRR”).

On October 3, 2012, the Company completed the sale of aggregate US$50,000 senior unsecured convertible notes to Golden Meditech Holdings Limited (“GMHL”), which is a major shareholder of the Company (the “GM Notes”). The GM Notes carry a 7% coupon interest rate and are convertible into the Company’s ordinary shares at a conversion price of US$2.838 per share. The Company received gross proceeds of US$50,000 and incurred debt issuance costs of RMB4,258 from the issuance of the GM Notes. The GM Notes are senior unsecured obligations, maturing on October 3, 2017 and are not redeemable prior to their maturity at the Company’s option. The GM Notes are convertible at any time in whole or part, into the Company’s ordinary shares at the conversion price, subject to customary anti-dilution adjustments for significant corporate events. On the maturity date, the Company is obligated to pay a redemption amount on the unconverted portion of the GM Notes that is calculated to provide a 12% IRR.

In November 2014, GMHL completed the sale of the GM Notes of US$50,000 in aggregate principal amount to CGL and Magnum Opus International Holdings Limited (“Magnum”), a private vehicle that is controlled by the Company’s chairman, for a total consideration of US$88,090. As a result, CGL and Magnum became the holders of the GM Notes and each of them holds US$25,000 of the GM Notes. All terms and conditions of the GM Notes remain the same after the transfer from GMHL to CGL and Magnum, except for the change of holder name on the convertible notes and the denomination of the fair value of the convertible notes from US$50,000 to US$25,000.

In May 2015, GMHL entered into a purchase agreement with CGL and Magnum to acquire the GM Notes at a consideration of US$61,677 and US$61,896 respectively. The acquisitions of the GM Notes from CGL and Magnum were completed in November and December 2015 respectively and the convertible notes were subsequently transferred to Golden Meditech Stem Cells (BVI) Company Limited (“GMSC”), a wholly owned subsidiary of GMHL.

In August 2015, Magnum Opus 2 International Holdings Limited (“MO2”), an entity wholly owned by the Company’s chairman, acquired from BCHIL the convertible notes through the acquisition of all the issued and outstanding shares of Excellent China Healthcare Investment Limited (“ECHIL”), which is the holder of the convertible notes and a wholly owned subsidiary of BCHIL.

In January 2016, GMHL acquired from ECHIL the convertible notes and subsequently transferred the convertible notes to its wholly owned subsidiary, GMSC.

The carrying amounts of the KKR Notes and GM Notes (collectively the “Notes”), net as of March 31, 2016 and 2017 are summarized in the following table:

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Principal amount of the KKR Notes	421,672		449,608		65,319
Principal amount of the GM Notes	324,363		345,852		50,246
Cumulative interest payables	164,624		236,389		34,343
Less: Unamortized debt issuance costs	(4,437	)	(695	)	(101	)

Convertible notes, net	906,222		1,031,154		149,807


Representing:
Current portion	—		1,031,154		149,807
Non-current portion	906,222		—		—

Convertible notes, net	906,222		1,031,154		149,807

Holders of the Notes have the right to require the Company to redeem all or any portion of the Notes upon occurrence of events of default. Such events of default under the Notes include suspension from trading or failure of the Company’s ordinary shares to be listed over certain periods (subject to certain exceptions), failure to deliver ordinary shares upon conversion, or failure to pay principal or interest to the holder within certain periods when due and payable (including, without limitation, the Company’s failure to pay any redemption payments), bankruptcy, materially breaches of any covenants or terms in the Notes, the incurrence of any indebtedness of the Group and any final judgment or judgment against the Group exceeding certain amount, and any other event or events that could be expected to have material adverse effects on the Group. From and after the thirtieth day following the occurrence, and during the continuance, of an event of default under the Notes, the interest rate shall be increased to twenty-two and one-half percent (22.5%) per annum.

The Notes are entitled to a special redemption payment in the event the Group breaches certain covenants. The Notes contain customary ongoing covenants, including affirmative covenants and negative covenants. Covenants are set out in the Notes, including but not limited to compliance with Securities and Exchange Commission filings and all applicable laws and rules; maintaining Form F-3 eligibility and maintaining and keeping all the current held cord blood banking licenses effective; the Company shall not, without the prior written consent of the holders of the Notes, change its principal business; dissolve, liquidate, reorganize or restructure; merge with any other entity; commence any case, proceeding or other action under bankruptcy, insolvency or similar law; acquire or dispose of assets other than in the ordinary course of business. Any amendment or waiver thereof requires the affirmative consent of a majority of the holder of all outstanding Notes. Additionally, additional payments on the Notes shall be made in the event the Group pays any excess cash dividend in any financial year (see Note 19). Such term provides the holders of the Notes with the ability to participate in any excess cash dividend.

The Company has determined that the conversion feature embedded in the Notes should not be bifurcated and accounted for as a derivative pursuant to ASC 815, Derivatives and Hedging, since the embedded conversion feature is indexed to the Company’s own stock and would have been classified in shareholders’ equity if it were a free-standing derivative instrument. The Company has determined that the embedded put options that can accelerate the repayment of the Notes and contingent interest feature are clearly and closely related to the debt host contract and are not separately accounted for as a derivative pursuant to the ASC 815. Further, since the conversion price of the Notes exceeded the market price of the Company’s ordinary shares on the date of commitment, there was no beneficial conversion feature.

The Company accrued interest on the Notes based on the guaranteed 12% IRR per annum. The difference between the accrued interest rate of 12% and the coupon rate of 7% of the Notes is recorded in convertible notes in the consolidated balance sheets. Debt issuance costs in connection with the issuance of convertible notes are amortized from the date the Notes were issued to the earliest date the holders of the Notes can demand payment, which is five years.

Interest relating to the Notes was recognized as follows:

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

KKR Notes interest incurred	53,222	57,807	65,130	9,462
GM Notes interest incurred	40,008	43,399	48,863	7,099
Amortization of debt issuance costs	3,610	3,712	3,947	573

Total interest expense	96,840	104,918	117,940	17,134

Shareholders' equity	12 Months Ended
Shareholders' equity	Mar. 31, 2017
Shareholders' equity
Shareholders' equity	15 Shareholders’ equity (a) Share capital As of March 31, 2015, 2016 and 2017, the Company had 73,003,248 shares outstanding and 73,140,147 shares issued. (b) Statutory reserves According to PRC rules and regulations and their Articles of Association, Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou are required to transfer 10% of net income, as determined in accordance with the relevant financial regulations established by the Ministry of Finance of the PRC, to a statutory surplus reserve until the reserve balance reaches 50% of their respective registered capital. The transfer to this reserve must be made before distribution of dividends to equity holders can be made. The statutory surplus reserve is non-distributable but can be used to make good previous years’ losses, if any, and may be converted into issued capital in proportion to the respective equity holding of the equity holders, provided that the balance of the reserve after such conversion is not less than 25% of the registered capital. Aggregate transfers of RMB8,471, RMB16,443 and RMB1,964 (US$285) have been made to the statutory surplus reserves by Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou for the years ended March 31, 2015, 2016 and 2017, respectively. Accumulated statutory surplus reserve as of March 31, 2016 and 2017 amounted to RMB125,851 and RMB127,815 (US$18,569), respectively. (c) Share repurchase program During the year ended March 31, 2013, the Company repurchased 7,450,914 ordinary shares at a total cost of RMB131,302 of which 7,314,015 shares were subsequently sold to CGL (Note 1(b)). As of March 31, 2016 and 2017, the remaining 136,899 repurchased ordinary shares had not been cancelled and therefore were presented as treasury stock in the consolidated balance sheets. On July 28, 2016 and July 25, 2017, the Board of Directors approved a new share repurchase program in the aggregate amount of $20,000 for 12 months until July 28, 2017 and July 25, 2018, respectively. During the years ended March 31, 2016 and 2017, the Company did not repurchase any of its shares under the new share repurchase programs.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e))
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(31))
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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+ Details

Revenues

12 Months Ended

Mar. 31, 2017

Revenues

Revenues

16 Revenues

The Group’s revenues are primarily derived from the provision of umbilical cord blood processing and storage services.

Since the Group operates and manages its business solely in the PRC and services are predominately provided to customers located in the PRC, no geographical segment information is provided.

The Group’s revenues by category are as follows:

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

Cord blood processing fees	428,261	415,000	477,243	69,335
Cord blood storage fees	203,847	243,523	278,273	40,428
Fees derived from the provision of donated cord blood for transplantation and research and others	3,014	4,476	4,462	648

Total revenues	635,122	662,999	759,978	110,411

Income tax

12 Months Ended

Mar. 31, 2017

Income tax

Income tax

17 Income tax

Cayman Islands and British Virgin Islands

Under the current laws of the Cayman Islands and the British Virgin Islands, the Company and its subsidiaries that are incorporated in the Cayman Islands and the British Virgin Islands are not subject to tax on income or capital gains. In addition, upon payments of dividends by these companies, no Cayman Islands or British Virgin Islands withholding tax is imposed.

Hong Kong

The Company’s subsidiaries that are incorporated or operate in Hong Kong are subject to Hong Kong Profits Tax on income arising in or derived from Hong Kong. No provision was made for Hong Kong Profits Tax as the subsidiaries did not earn income subject to Hong Kong Profits Tax for the years ended March 31, 2015, 2016 and 2017. The payments of dividends by Hong Kong tax residents are not subject to any Hong Kong withholding tax.

The PRC

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

In January 2015, Beijing Jiachenhong received approval from the tax authority on the renewal of its High and New Technology Enterprises (“HNTE”) status which entitled it to the preferential income tax rate of 15% effective retroactively from January 1, 2014 to December 31, 2016. Beijing Jiachenhong is in the process of reapplication for its HNTE status which will enable it to the preferential income tax rate of 15% from January 1, 2017 to December 31, 2019.

In April 2014, 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, 2013 to December 31, 2015. In March 2017, 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, 2016 to December 31, 2018.

In January 2016, 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, 2015 to December 31, 2017.

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 March 31, 2016, the Company has provided aggregated amount of RMB14,300 for withholding income tax on a portion of the undistributed earnings of its PRC subsidiaries according to management’s reinvestment plan. No income taxes were provided for the remaining undistributed earnings which are intended to be reinvested indefinitely in the PRC. During the year ended March 31, 2017, a reversal of withholding income tax of RMB14,300 (US$2,078) was made due to the change in management’s future reinvestment plan as all undistributed earnings of the Company’s PRC subsidiaries are intended to be reinvested indefinitely in the PRC in the foreseeable future. As of March 31, 2017, such undistributed earnings that may be subject to the withholding tax amounted to RMB1,609,119 (US$233,774) and the related unrecognized deferred tax liability was RMB160,912 (US$23,377).

Income before income tax expense arose from the following tax jurisdictions:

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

The PRC	284,288		323,510		365,448		53,093
Non-PRC
- Hong Kong	(43	)	405		(36	)	(5	)
- British Virgin Islands	1,916		8,288		(2,985	)	(434	)
- Cayman Islands	(131,041	)	(190,870	)	(196,116	)	(28,492	)

Income before income tax expense	155,120		141,333		166,311		24,162

(a) Income taxes

Income tax expense represents PRC income tax expense as follows:

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Current tax expense	48,239		51,060		58,767		8,537
Deferred tax expense	(912	)	(1,060	)	(21,145	)	(3,071	)

Total income tax expense	47,327		50,000		37,622		5,466

(b) Reconciliation of expected income tax to actual income tax expense

The actual income tax expense reported in the consolidated statements of comprehensive income differs from the amount computed by applying the statutory PRC income tax rate of 25% due to the following:

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Income before income tax expense	155,120		141,333		166,311		24,162


Computed “expected” tax expense	38,780		35,333		41,578		6,041
Non-PRC entities not subject to income tax
- Hong Kong	11		(101	)	9		1
- British Virgin Islands	(479	)	(2,072	)	746		108
- Cayman Islands	32,760		47,717		49,029		7,123
PRC dividend withholding tax	5,200		5,200		(14,300	)	(2,078	)
Non-taxable income	—		(7,950	)	—		—
Preferential tax rates	(29,663	)	(33,049	)	(39,931	)	(5,801	)
Others	718		4,922		491		72

Actual income tax expense	47,327		50,000		37,622		5,466

The tax effects of temporary differences that give rise to deferred tax assets/(liabilities) are presented below:

	March 31,
	2016		2017		2017
	RMB		RMB		US$
Deferred tax assets:
Accounts receivable	13,757		17,850		2,593
Non-current accounts receivable	10,624		12,003		1,744
Inventories	2,273		2,273		330
Others	494		881		128

Net deferred tax assets	27,148		33,007		4,795


Deferred tax liabilities:
Deferred revenue	(76	)	(67	)	(10	)
Property, plant and equipment	(5,358	)	(5,536	)	(804	)
PRC dividend withholding tax	(14,300	)	—		—
Intangible assets	(27,827	)	(26,672	)	(3,874	)

Deferred tax liabilities	(47,561	)	(32,275	)	(4,688	)


Net deferred tax (liabilities)/assets	(20,413	)	732		107


Classification on consolidated balance sheets:
Non-current deferred tax assets	16,673		22,155		3,219
Non-current deferred tax liabilities	(37,086	)	(21,423	)	(3,112	)

Net deferred tax (liabilities)/assets	(20,413	)	732		107

For the years ended March 31, 2015, 2016 and 2017, the Group did not have any unrecognized tax benefits and thus no interest and penalties related to unrecognized tax benefits were recorded. In addition, the Company does not expect that the amount of unrecognized tax benefits will change significantly within the next twelve months.

According to the PRC Tax Administration and Collection Law, the statute of limitation is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitation is extended to five years under special circumstances where the underpayment of taxes is more than RMB100 (US$15). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. The income tax returns of the Group’s PRC subsidiaries for the calendar years from 2012 to 2016 are open to examination by the PRC state and local tax authorities.

Share-based compensation

12 Months Ended

Mar. 31, 2017

Share-based compensation

Share-based compensation

18 Share-based compensation

At the annual general meeting of the Company on February 18, 2011 (the “Adoption Date”), the shareholders of the Company approved a restricted share unit (the “RSU Scheme”) for the purpose of attracting and retaining skilled and experienced personnel. Certain administrative provisions of the RSU scheme were subsequently amended by the Board of Directors of the Company in August 2014. The RSU Scheme will be valid and effective for a period of ten years commencing from the Adoption Date of the RSU Scheme.

On December 15, 2014 (the “Grant Date”), the Company granted a total of 7,300,000 restricted share units (“RSUs”) to certain executives, directors and key employees (the “RSU Grantees”) under the RSU Scheme. The RSUs will be vested in whole at any time during its valid period, subject to the fulfilment of certain operational and/or financial performance targets as set by relevant committee of the Company’s Board of Directors. Upon vesting, each RSU shall be entitled to the transfer or issue of one ordinary share in the share capital of the Company. The RSUs are exercisable only if the RSU Grantees remained employed by the Company.

The fair value of each RSU is US$4.15, which was based on the market price of the ordinary shares of the Company at Grant Date. During the years ended March 31, 2015, 2016 and 2017, the RSUs granted had not been vested and there were 7,300,000 RSUs outstanding and nil exercisable as of March 31, 2016 and 2017 with a weighted average remaining contract life of 2 years and 1 year, respectively. Management assessed that the satisfaction of the operational and/or financial performance targets of the RSUs granted are probable within its valid period.

Share-based compensation expense recognized for non-vested RSUs is allocated to the following expense items:

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

Direct costs	416	1,475	1,565	227
Sales and marketing	4,624	16,413	17,408	2,529
General and administrative	11,495	40,796	43,268	6,286

Total share-based compensation expense	16,535	58,684	62,241	9,042

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Earnings per share

12 Months Ended

Mar. 31, 2017

Earnings per share

Earnings per share

19 Earnings per share

The following table sets forth the computation of basic and diluted earnings per share for the years ended March 31, 2015, 2016 and 2017:

		Year ended March 31,
	Note	2015		2016	2017		2017
		RMB		RMB	RMB		US$
Numerator:
Net income attributable to the Company’s shareholders		107,292		90,970	126,190		18,333
Earnings allocated to participating convertible notes	(i)	(8,108	)	—	(10,019	)	(1,456	)


Net income for basic and diluted net income per share		99,184		90,970	116,171		16,877


Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248		73,003,248


Earnings per share
- Basic		1.36		1.25	1.59		0.23

- Diluted	(ii)	1.36		1.25	1.59		0.23

Notes:

(i)

The outstanding convertible notes provide the holders with the ability to participate in any excess cash dividend. Excess cash dividend means any cash dividend to holders of shares that, together with all other cash dividends previously paid to holders of shares in the same financial year, exceeds, on a per share basis, an amount equal to the interest that has accrued and shall accrue at 7% coupon interest rate in such financial year divided by the number of shares into which the notes are convertible at the conversion price then in effect on the relevant record date. Therefore, net income attributable to the Company is reduced by such allocated earnings to participating convertible notes for the years ended March 31, 2015 and 2017 in both basic and diluted net income per share computation. For the year ended March 31, 2016, as there was no excess cash dividend, no earnings were allocated to participating convertible notes.

(ii)

During the years ended March 31, 2015, 2016 and 2017, the Company had potentially dilutive ordinary shares of 40,521,494 representing shares issuable upon conversion of the outstanding convertible notes (see Note 14). Such potentially dilutive ordinary shares were excluded from diluted earnings per share computation because their effects would have been anti-dilutive.

Related party transactions

12 Months Ended

Mar. 31, 2017

Related party transactions

Related party transactions

20 Related party transactions

For the years presented, the principal related party transactions and amounts due to related parties are summarized as follows:

		Year ended March 31,
	Note	2015	2016	2017	2017
		RMB	RMB	RMB	US$

Rental of properties	(i)	1,440	1,440	—	—
Raw material purchase	(ii)	15,683	37,556	36,405	5,289
Consultancy expenses	(iii)	1,984	4,078	4,337	630
Interest expenses	14	40,008	78,014	113,993	16,561
License fee	(iv)	321	317	—	—
Consultancy income	(v)	—	—	16,786	2,439
Data access income	(vi)	—	—	26,316	3,823

		March 31,
	Note	2016	2017	2017
		RMB	RMB	US$

Current liability:
Amounts due to related parties	(i), (ii) & 14	53,255	4,679	680

Notes:

(i)

During the years ended March 31, 2015 and 2016, Beijing Jingjing Medical Equipment Co., Ltd. (“Beijing Jingjing”), a subsidiary of GMHL, leased a property to the Group under an operating lease. The monthly rental was RMB120 and does not include contingent rentals. The lease was terminated on April 1, 2016 and therefore, no rental expense was incurred during the year ended March 31, 2017.

(ii)

During the years ended March 31, 2015, 2016 and 2017, the Group purchased raw materials from China Bright Group Co. Limited, a subsidiary of GMHL, for an amount of RMB15,683, RMB37,556 and RMB36,405 (US$5,289), respectively.

(iii)

During the years ended March 31, 2015, 2016 and 2017, consultancy services were provided by Golden Meditech (S) Pte Ltd., a subsidiary of GMHL, to the Group for an amount of RMB1,984, RMB4,078 and RMB4,337 (US$630), respectively.

(iv)

During the year ended March 31, 2015 and the period from April 1, 2015 to October 30, 2015, CGL charged the Group a license fee for an amount of RMB321 and RMB317, respectively. Since October 30, 2015, CGL was no longer a related party of the Group.

(v)

During the year ended March 31, 2017, the Company performed a consultation service related to the usage of cord blood processing devices and consumables and recorded RMB16,786 (US$2,439) as a reduction of direct costs. GMHL is a distributor of such devices and consumables in the PRC and the Company is a customer of GMHL. Since the consideration of the consultation service cannot be sufficiently separated from the Company’s purchases of such devices and consumables and the fair value of the benefit provided for cannot be reasonably estimated either, the consideration received from GMHL was recorded as a reduction of direct costs as associated cord blood processing devices and consumables which the Company purchased from GMHL were consumed and included in direct costs.

(vi)

During the year ended March 31, 2017, the Company entered into a collaboration agreement with GMHL. Utilizing the Company’s existing donated cord blood samples resources, the Company provided GMHL with exclusive access to certain data derived from a small portion of donated cord blood samples and has no further obligation to GMHL, in return for a fee of RMB26,316 (US$3,823).

Employee benefits	12 Months Ended
Employee benefits	Mar. 31, 2017
Employee benefits
Employee benefits	21 Employee benefits Pursuant to the relevant PRC regulations, Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou are required to make various defined contributions organized by municipal and provincial PRC governments. The contributions are made for each PRC employee at a rate of approximately 40% on a standard salary base as determined by the local Social Security Bureau. The amounts of the defined contributions of RMB17,018, RMB20,581 and RMB24,495 (US$3,559) for the years ended March 31, 2015, 2016 and 2017 respectively, were charged to expense in the consolidated statements of comprehensive income. For the years ended March 31, 2015, 2016 and 2017, 51%, 55% and 55% of costs of employee benefits were recorded in sales and marketing expenses, respectively, with the remaining portion of the contributions recorded in general and administrative expenses, direct costs and research and development expenses of each year. The Company has no other obligation for the payment of employee benefits associated with these plans beyond the contributions described above.

Fair value measurements	12 Months Ended
Fair value measurements	Mar. 31, 2017
Fair value measurements
Fair value measurements	22 Fair value measurements The following methods and assumptions were used to estimate the fair value of each class of financial instruments: Available-for-sale equity securities - based on quoted market prices on the last trading value as of March 31, 2017. Such investments are classified as Level 1 in the hierarchy. Short-term financial instruments (including cash and cash equivalents, accounts receivable, prepaid expenses and other receivables, accounts payable, accrued expenses and other payables, amounts due to related parties and short-term bank loan) - cost approximates their respective fair values due to their short-term nature. Convertible notes - the estimated fair value was US$256,166 and US$278,254 (RMB1,915,278) as of March 31, 2016 and 2017 based on the level 3 valuation technique as compared to a carrying amount (before deducting unamortized debt issuance costs) of RMB910,659 and RMB1,031,849 (US$149,908) as of March 31, 2016 and 2017. The estimated fair value of the convertible notes is based on a mark-to-model valuation model. Due to the fact that there is no active market for this instrument, the fair value of the convertible notes was estimated using a discounted cash flow analysis based on current borrowing rates for instruments with similar terms. In addition, the Company utilized other sources of information for the relevant market parameters in order to develop its fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Business and credit concentrations

12 Months Ended

Mar. 31, 2017

Business and credit concentrations

Business and credit concentrations

23 Business and credit concentrations

All of the Group’s customers are located in the PRC. Revenues from and gross accounts receivable due from customers are individually immaterial. The Group derives a substantial portion of net revenues from the entities in the Beijing municipality, Guangdong and Zhejiang provinces. Revenues derived from the subsidiary in the Beijing municipality accounted for 36.1%, 31.6% and 28.8% of net revenues for the years end March 31 2015, 2016 and 2017, respectively. Revenues derived from the subsidiary in the Guangdong province accounted for 55.6%, 58.8% and 58.7% of net revenues for the years end March 31 2015, 2016 and 2017, respectively. Revenues derived from the subsidiary in the Zhejiang province accounted for 8.3%, 9.6% and 12.5% of net revenues for the years end March 31 2015, 2016 and 2017, respectively. As a result of this geographic concentration, the results of operations are significantly affected by economic conditions in the Beijing municipality, Guangdong and Zhejiang provinces. Furthermore, any change in number of newborns in the Beijing municipality, Guangdong and Zhejiang provinces could significantly impact our operations. Deterioration in economic conditions in these markets could decrease the demand for our business, which in turn could negatively impact our operations and business prospects.

The Group purchases raw materials from a few major suppliers. Management believes that other suppliers could provide similar raw materials on comparable terms. A change in suppliers, however, could cause a delay in manufacturing and a possible loss of sales, which would adversely affect the Company’s business, financial position and results of operations. The following are purchases from suppliers that individually comprise 10% or more of gross purchases in the respective years:

	Year ended March 31,
Suppliers	2015		2016		2017
	RMB	%	RMB	%	RMB	US$	%

China Bright Group Co. Limited	15,683	25	37,556	49	36,405	5,289	52
Hangzhou Baitong Biological Technology Co., Ltd.	6,600	10	—	—	—	—	—

Total	22,283	35	37,556	49	36,405	5,289	52

As of March 31, 2016 and 2017, there was no individual accounts payable due to major suppliers that exceeded 10% of outstanding accounts payable balance.

Commitments and contingencies

12 Months Ended

Mar. 31, 2017

Commitments and contingencies

Commitments and contingencies

24 Commitments and contingencies

(a) Operating lease commitments

For the years ended March 31, 2015, 2016 and 2017, total rental expenses for operating leases were RMB4,536, RMB4,898 and RMB2,859 (US$415), respectively.

The total future minimum payments under non-cancellable operating leases of rental arrangements as of March 31, 2017 are as follows:

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2018	236	34
2019	182	26
2020	—	—
2021	—	—
2022 and thereafter	—	—

Total payments	418	60

(b) Contractual commitments

The Group entered into an agreement with an institution for the research and development of medicines for treatments which make use of cord blood stem cells. Commitments as of March 31, 2016 and 2017 under this agreement amounted to RMB2,000 (US$291), respectively.

In June 2006, the Group entered into a cooperation agreement with Peking University People’s Hospital (“PUPH”). Pursuant to the agreement, PUPH provides technical consultancy services to the Group in relation to the operation of a cord blood bank. The annual service fee was RMB2,000 and was renewed to RMB2,600 (US$377) effective from October 2013. The renewed agreement has a term of twenty years commencing in October 2013.

In November 2009, Guangzhou Nuoya entered into a cooperation agreement with Guangdong Women and Children’s Hospital and Health Institute (“GWCH”). Pursuant to the agreement, GWCH provides technical consultancy services to the Group. The annual service fee was RMB2,000 and was renewed to RMB3,200 (US$465) effective from October 2013.

As of March 31, 2017, the total future minimum payments under the cooperation agreements are as follows:

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2018	5,800	843
2019	5,800	843
2020	5,800	843
2021	5,800	843
2022	5,800	843
2023 and thereafter	54,167	7,868

Total payments	83,167	12,083

Subsequent events	12 Months Ended
Subsequent events	Mar. 31, 2017
Subsequent events
Subsequent events	25 Subsequent events In April 2017, GMSC exercised the conversion of the Notes of US$115,000 at a conversion price of US$2.838 per share, which resulted in the issuance of 40,521,494 ordinary shares of the Company. Subsequent to such conversion, the Company has no outstanding convertible notes.

Summary of significant accounting policies (Policies)

12 Months Ended

Mar. 31, 2017

Summary of significant accounting policies

Principles of consolidation

(a)Principles of consolidation

Use of estimates

(b)Use of estimates

Foreign currency transactions and translation

(c)Foreign currency transactions and translation

The reporting currency of the Company is Renminbi (“RMB”).

Cash and cash equivalents

(d)Cash and cash equivalents

	March 31,
	2016		2017
	Original currency	RMB	Original currency	RMB

U.S. dollars	3,702	24,017	5,707	39,476
Australian dollars	1	5	1	6
Renminbi	2,820,503	2,820,503	3,432,042	3,432,042
Hong Kong dollars	197,049	163,885	43,679	38,735
Singapore dollars	2	12	1	5

Investment securities

(e)Investment securities

Management determines the appropriate classification of its investment securities at the time of purchase and reevaluates such designations at each reporting date.

Trading securities are recorded at fair value. Realized and unrealized holding gains and losses, net of the related tax effect, on trading securities are included in earnings.

Dividend income is recognized in other income when earned.

Accounts receivable

(f)Accounts receivable

Inventories

(g)Inventories

Property, plant and equipment

(h)Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation.

Buildings		37.5 - 50 years
Leasehold improvements		Shorter of the lease term or estimated useful lives of 10 years
Machineries		5 - 10 years
Motor vehicles		5 years
Furniture, fixtures and office equipment		3 - 5 years

No depreciation expense is provided in respect of construction-in-progress.

Intangible assets

(i)Intangible assets

Impairment of long-lived assets

(j)Impairment of long-lived assets

Revenue recognition

(k)Revenue recognition

Pursuant to the Agreement, no penalty is charged to customers for early termination of the cord blood storage service.

The Group considers all reasonably available information to allocate the overall arrangement fee to cord blood processing and cord blood storage services based on their relative selling prices.

During the years ended March 31, 2015, 2016 and 2017, the Group offered its customers three payment options:

(i)

Payment of the processing fee upon delivery of the cord blood unit to the Group’s premises for processing and the annual storage fee in advance at the beginning of each one-year renewal period;

(ii)

Payment of the processing fee upon delivery of the cord blood unit to the Group’s premises for processing and an upfront payment of storage fees for a period of eighteen years; and

(iii)

Fees derived from the provision of donated cord blood for transplantation and research are recognized when the cord blood unit is delivered and the risk of loss is transferred to the recipient.

The Group’s revenues are net of value-added tax collected on behalf of tax authorities at 6% on the invoiced amount in respect of the services rendered.

Research and development costs

(l)Research and development costs

Advertising costs

(m)Advertising costs

Employee benefits

(n)Employee benefits

Debt issuance costs

(o)Debt issuance costs

Income taxes

(p)Income taxes

Commitments and contingencies

(q)Commitments and contingencies

Earnings per share

(r)Earnings per share

Share-based compensation

(s)Share-based compensation

Segment reporting

(t)Segment reporting

Fair value measurement

(u)Fair value measurement

Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

See Note 22 to the consolidated financial statements.

Recently issued accounting standards

(v)Recently issued accounting standards

Summary of significant accounting policies (Tables)

12 Months Ended

Mar. 31, 2017

Summary of significant accounting policies

Schedule of cash and cash equivalents denominated in several currencies

	March 31,
	2016		2017
	Original currency	RMB	Original currency	RMB

U.S. dollars	3,702	24,017	5,707	39,476
Australian dollars	1	5	1	6
Renminbi	2,820,503	2,820,503	3,432,042	3,432,042
Hong Kong dollars	197,049	163,885	43,679	38,735
Singapore dollars	2	12	1	5

Schedule of estimated useful lives of property, plant and equipment

Buildings		37.5 - 50 years
Leasehold improvements		Shorter of the lease term or estimated useful lives of 10 years
Machineries		5 - 10 years
Motor vehicles		5 years
Furniture, fixtures and office equipment		3 - 5 years

Accounts receivable, net (Tables)

12 Months Ended

Mar. 31, 2017

Accounts receivable, net

Schedule of accounts receivable

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Accounts receivable	390,550		365,283		53,069
Less: Allowance for doubtful accounts	(100,894	)	(117,602	)	(17,086	)

Total accounts receivable, net	289,656		247,681		35,983


Representing:

Current portion:
- Processing fees	78,649		71,343		10,365
- Storage fees	43,618		39,904		5,797
- Others	2,378		1,286		187

	124,645		112,533		16,349
Non-current portion:
- Processing fees	165,011		135,148		19,634

Total accounts receivable, net	289,656		247,681		35,983

Schedule of non-current gross accounts receivable due for payment

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2019	33,012	4,796
2020	29,612	4,302
2021	26,450	3,843
2022	24,663	3,583
2023 and thereafter	129,691	18,842

	243,428	35,366

Schedule of aging analysis of gross accounts receivable

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Not past due	276,405	248,865	36,156
Within one year past due	48,266	38,431	5,583
Between one to two years past due	33,170	35,556	5,166
Over two years past due	32,709	42,431	6,164

Total gross accounts receivable	390,550	365,283	53,069

Schedule of allowance for doubtful accounts

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Balance at beginning of year	63,025		83,835		100,894		14,658
Charged to allowance for doubtful accounts	25,042		20,251		29,574		4,297
Write-off charged against the allowance for the year	(4,232	)	(3,192	)	(12,866	)	(1,869	)

Balance at end of year	83,835		100,894		117,602		17,086

Inventories (Tables)

12 Months Ended

Mar. 31, 2017

Inventories

Schedule of inventories

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Current portion:
- Consumables and supplies	28,326	30,987	4,502

Non-current portion:
- Processing costs capitalized in donated umbilical cord blood	64,322	68,775	9,992

Total current and non-current inventories	92,648	99,762	14,494

Prepaid expenses and other receivables (Tables)

12 Months Ended

Mar. 31, 2017

Prepaid expenses and other receivables

Schedule of prepaid expenses and other receivables

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Prepaid expenses	17,294	12,257	1,781
VAT tax receivables	798	1,036	151
Other receivables	6,320	4,231	614

Total prepaid expenses and other receivables	24,412	17,524	2,546

Property, plant and equipment, net (Tables)

12 Months Ended

Mar. 31, 2017

Property, plant and equipment, net

Schedule of property, plant and equipment, net

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Buildings	584,661		593,369		86,205
Leasehold improvements	14,864		14,864		2,159
Machineries	149,213		154,359		22,425
Motor vehicles	15,808		17,152		2,492
Furniture, fixtures and equipment	41,099		44,266		6,431
Construction-in-progress	1,102		2,806		408

	806,747		826,816		120,120
Less: Accumulated depreciation	(232,180	)	(275,382	)	(40,007	)

Total property, plant and equipment, net	574,567		551,434		80,113

Schedule of depreciation expense of property, plant and equipment

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

Direct costs	28,819	29,812	29,883	4,341
Research and development	2,231	1,118	1,372	199
Sales and marketing	2,530	3,070	3,051	443
General and administrative	12,408	11,545	11,554	1,679

Total depreciation expense	45,988	45,545	45,860	6,662

Non-current deposits (Tables)

12 Months Ended

Mar. 31, 2017

Non-current deposits

Schedule of non-current deposits

		March 31,
	Note	2016	2017	2017
		RMB	RMB	US$

Investment deposit	(i)	218,358	232,824	33,825
Deposit for purchase of machineries		21	4,663	677

Total non-current deposits		218,379	237,487	34,502

Note:

(i)

Intangible assets, net (Tables)

12 Months Ended

Mar. 31, 2017

Intangible assets, net

Schedule of components of intangible assets, net

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Cord blood bank operating rights	138,628		138,628		20,140
Less: Accumulated depreciation	(27,321	)	(31,942	)	(4,641	)

Total intangible assets, net	111,307		106,686		15,499

Schedule of estimated amortization expenses

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2018	4,621	671
2019	4,621	671
2020	4,621	671
2021	4,621	671
2022	4,621	671
2023 and thereafter	83,581	12,144

Total amortization expenses	106,686	15,499

Available-for-sale equity securities (Tables)

12 Months Ended

Mar. 31, 2017

Available-for-sale equity securities

Schedule of available-for-sale equity securities

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Listed equity securities
Life Corporation Limited - listed on Australian Securities Exchange	1,607	214	31
Cordlife Group Limited - listed on Singapore Exchange	161,127	131,479	19,101

	162,734	131,693	19,132


Listed fund investments	—	69,097	10,039

	162,734	200,790	29,171

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Other investment (Tables)

12 Months Ended

Mar. 31, 2017

Other investment

Schedule of other investment

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Unlisted equity securities, at cost	189,129	189,129	27,477

Accrued expenses and other payables (Tables)

12 Months Ended

Mar. 31, 2017

Accrued expenses and other payables

Schedule of accrued expenses and other payables

		March 31,
	Note	2016	2017	2017
		RMB	RMB	US$

Insurance premium received on behalf of insurance company	(i)	23,591	28,348	4,119
Other tax payables		2,489	4,365	634
Accrued salaries, bonus and welfare expenses		17,343	8,770	1,274
Accrued consultancy and professional fees		3,601	4,961	721
Payable for property, plant and equipment		1,119	1,098	160
Other payables	(ii)	13,161	17,620	2,559

Total accrued expenses and other payables		61,304	65,162	9,467

Notes:

(i)

(ii)

Other payables mainly include fee refundable to customers whose cord blood unit does not qualify for subsequent storage and other procurement payables.

Deferred revenue (Tables)

12 Months Ended

Mar. 31, 2017

Deferred revenue

Schedule of deferred revenue

	March 31,
	2016	2017	2017
	RMB	RMB	US$

Payments by customers prior to completion of cord blood processing services	96,857	129,880	18,869
Unearned storage fees	1,482,074	1,763,389	256,187

Total current and non-current deferred revenue	1,578,931	1,893,269	275,056


Representing:
Current portion	257,692	323,690	47,026
Non-current portion	1,321,239	1,569,579	228,030

Total current and non-current deferred revenue	1,578,931	1,893,269	275,056

Unearned storage fees

Deferred revenue

Schedule of deferred revenue

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Balance at beginning of year	926,756		1,232,243		1,482,074		215,318
Deferred revenue arising from new customers	509,334		493,354		559,588		81,297
Credited to income	(203,847	)	(243,523	)	(278,273	)	(40,428	)

Balance at end of year	1,232,243		1,482,074		1,763,389		256,187

Convertible notes, net (Tables)

12 Months Ended

Mar. 31, 2017

Convertible notes, net

Schedule of the KKR and GM Notes, net

	March 31,
	2016		2017		2017
	RMB		RMB		US$

Principal amount of the KKR Notes	421,672		449,608		65,319
Principal amount of the GM Notes	324,363		345,852		50,246
Cumulative interest payables	164,624		236,389		34,343
Less: Unamortized debt issuance costs	(4,437	)	(695	)	(101	)

Convertible notes, net	906,222		1,031,154		149,807


Representing:
Current portion	—		1,031,154		149,807
Non-current portion	906,222		—		—

Convertible notes, net	906,222		1,031,154		149,807

Schedule of interest relating to the Notes

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

KKR Notes interest incurred	53,222	57,807	65,130	9,462
GM Notes interest incurred	40,008	43,399	48,863	7,099
Amortization of debt issuance costs	3,610	3,712	3,947	573

Total interest expense	96,840	104,918	117,940	17,134

Revenues (Tables)

12 Months Ended

Mar. 31, 2017

Revenues

Schedule of revenue by category

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

Cord blood processing fees	428,261	415,000	477,243	69,335
Cord blood storage fees	203,847	243,523	278,273	40,428
Fees derived from the provision of donated cord blood for transplantation and research and others	3,014	4,476	4,462	648

Total revenues	635,122	662,999	759,978	110,411

Income tax (Tables)

12 Months Ended

Mar. 31, 2017

Income tax

Schedule of income before income tax expense

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

The PRC	284,288		323,510		365,448		53,093
Non-PRC
- Hong Kong	(43	)	405		(36	)	(5	)
- British Virgin Islands	1,916		8,288		(2,985	)	(434	)
- Cayman Islands	(131,041	)	(190,870	)	(196,116	)	(28,492	)

Income before income tax expense	155,120		141,333		166,311		24,162

Schedule of income tax expense

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Current tax expense	48,239		51,060		58,767		8,537
Deferred tax expense	(912	)	(1,060	)	(21,145	)	(3,071	)

Total income tax expense	47,327		50,000		37,622		5,466

Schedule of the reconciliation of expected income tax to actual income tax expense

	Year ended March 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$

Income before income tax expense	155,120		141,333		166,311		24,162


Computed “expected” tax expense	38,780		35,333		41,578		6,041
Non-PRC entities not subject to income tax
- Hong Kong	11		(101	)	9		1
- British Virgin Islands	(479	)	(2,072	)	746		108
- Cayman Islands	32,760		47,717		49,029		7,123
PRC dividend withholding tax	5,200		5,200		(14,300	)	(2,078	)
Non-taxable income	—		(7,950	)	—		—
Preferential tax rates	(29,663	)	(33,049	)	(39,931	)	(5,801	)
Others	718		4,922		491		72

Actual income tax expense	47,327		50,000		37,622		5,466

Schedule of deferred tax assets/(liabilities)

	March 31,
	2016		2017		2017
	RMB		RMB		US$
Deferred tax assets:
Accounts receivable	13,757		17,850		2,593
Non-current accounts receivable	10,624		12,003		1,744
Inventories	2,273		2,273		330
Others	494		881		128

Net deferred tax assets	27,148		33,007		4,795


Deferred tax liabilities:
Deferred revenue	(76	)	(67	)	(10	)
Property, plant and equipment	(5,358	)	(5,536	)	(804	)
PRC dividend withholding tax	(14,300	)	—		—
Intangible assets	(27,827	)	(26,672	)	(3,874	)

Deferred tax liabilities	(47,561	)	(32,275	)	(4,688	)


Net deferred tax (liabilities)/assets	(20,413	)	732		107


Classification on consolidated balance sheets:
Non-current deferred tax assets	16,673		22,155		3,219
Non-current deferred tax liabilities	(37,086	)	(21,423	)	(3,112	)

Net deferred tax (liabilities)/assets	(20,413	)	732		107

Share-based compensation (Tables)

12 Months Ended

Mar. 31, 2017

Share-based compensation

Schedule of share-based compensation expense

	Year ended March 31,
	2015	2016	2017	2017
	RMB	RMB	RMB	US$

Direct costs	416	1,475	1,565	227
Sales and marketing	4,624	16,413	17,408	2,529
General and administrative	11,495	40,796	43,268	6,286

Total share-based compensation expense	16,535	58,684	62,241	9,042

Earnings per share (Tables)

12 Months Ended

Mar. 31, 2017

Earnings per share

Schedule of basic and diluted earnings per share

		Year ended March 31,
	Note	2015		2016	2017		2017
		RMB		RMB	RMB		US$
Numerator:
Net income attributable to the Company’s shareholders		107,292		90,970	126,190		18,333
Earnings allocated to participating convertible notes	(i)	(8,108	)	—	(10,019	)	(1,456	)


Net income for basic and diluted net income per share		99,184		90,970	116,171		16,877


Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share		73,003,248		73,003,248	73,003,248		73,003,248


Earnings per share
- Basic		1.36		1.25	1.59		0.23

- Diluted	(ii)	1.36		1.25	1.59		0.23

Notes:

(i)

(ii)

Related party transactions (Tables)

12 Months Ended

Mar. 31, 2017

Related party transactions

Schedule of related party transactions

		Year ended March 31,
	Note	2015	2016	2017	2017
		RMB	RMB	RMB	US$

Rental of properties	(i)	1,440	1,440	—	—
Raw material purchase	(ii)	15,683	37,556	36,405	5,289
Consultancy expenses	(iii)	1,984	4,078	4,337	630
Interest expenses	14	40,008	78,014	113,993	16,561
License fee	(iv)	321	317	—	—
Consultancy income	(v)	—	—	16,786	2,439
Data access income	(vi)	—	—	26,316	3,823

		March 31,
	Note	2016	2017	2017
		RMB	RMB	US$

Current liability:
Amounts due to related parties	(i), (ii) & 14	53,255	4,679	680

Notes:

(i)

(ii)

(iii)

(iv)

(v)

(vi)

Business and credit concentrations (Tables)

12 Months Ended

Mar. 31, 2017

Business and credit concentrations

Schedule of major suppliers

	Year ended March 31,
Suppliers	2015		2016		2017
	RMB	%	RMB	%	RMB	US$	%

China Bright Group Co. Limited	15,683	25	37,556	49	36,405	5,289	52
Hangzhou Baitong Biological Technology Co., Ltd.	6,600	10	—	—	—	—	—

Total	22,283	35	37,556	49	36,405	5,289	52

Commitments and contingencies (Tables)

12 Months Ended

Mar. 31, 2017

Commitments and contingencies

Schedule of future minimum payments under non-cancellable operating leases

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2018	236	34
2019	182	26
2020	—	—
2021	—	—
2022 and thereafter	—	—

Total payments	418	60

Schedule of future minimum payments under the cooperation agreements

	March 31, 2017
	RMB	US$
Fiscal years ending March 31,
2018	5,800	843
2019	5,800	843
2020	5,800	843
2021	5,800	843
2022	5,800	843
2023 and thereafter	54,167	7,868

Total payments	83,167	12,083

Principal activities, reorganization and reverse recapitalization, and basis of presentation (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands		1 Months Ended							12 Months Ended
	Nov. 03, 2008 USD ($) $ / shares shares	Nov. 30, 2012 USD ($) shares	Nov. 30, 2012 CNY (¥) shares	Feb. 28, 2011 USD ($)	Feb. 28, 2011 CNY (¥)	Dec. 31, 2010 CNY (¥)	Aug. 31, 2009 shares	May 31, 2007 CNY (¥)	Mar. 31, 2013 shares	Mar. 31, 2017 item	Jun. 30, 2009	Jan. 31, 2008 item
Principal activities
Number of cord blood banking licenses issued that are held by the Company \| item										3
Reorganization and reverse recapitalization
Treasury shares sold to CGL \| shares		7,314,015	7,314,015						7,314,015
Treasury shares sold to CGL, as a percent of the Company's ordinary shares		10.00%	10.00%
Consideration received in stock transaction \| $		$ 20,800
Credit to additional paid-in capital on reissuance of treasury stock			¥ 3,341
Net proceeds from sale of equity		$ 4,000	¥ 25,320
Zhejiang province
Reorganization and reverse recapitalization
Consideration for operating rights				$ 12,500	¥ 82,124
China Cord Blood Services (CCBS) \| Share Exchange Agreement
Reorganization and reverse recapitalization
Maximum number of shares of Company common stock issuable under agreement \| shares	57,851,240
Percentage of acquiree's ordinary shares sold to Company	100.00%
Percentage of acquiree's redeemable ordinary shares sold to Company	76.00%
Percentage of equity interests in acquiree sold to Company	93.94%
Consideration \| $	$ 328,790
Shares of Company common stock issued as consideration \| shares	54,345,104
Value per share of consideration \| $ / shares	$ 6.05
Percentage of ownership after transaction											91.70%
China Cord Blood Services (CCBS) \| Agreements for remaining shares
Reorganization and reverse recapitalization
Percentage of acquiree's redeemable ordinary shares sold to Company							24.00%
Shares of Company common stock issued as consideration \| shares							3,506,136
China Stem Cells Holdings Limited (CSC Holdings) \| PRC
Reorganization and reverse recapitalization
Number of main subsidiaries \| item												2
China Stem Cells (South) Company Limited
Reorganization and reverse recapitalization
Percentage of equity interest in subsidiary								90.00%
Percentage of shares repurchased		10.00%	10.00%
Payment for repurchase of common stock \| $		$ 16,800
Charge to paid-in capital for shares repurchased			¥ 70,774
China Stem Cells (South) Company Limited \| Guangzhou Nuoya
Reorganization and reverse recapitalization
Payments to acquire interest in subsidiary								¥ 30,949
Zhejiang Lukou
Reorganization and reverse recapitalization
Percentage of equity interest in subsidiary						90.00%
Capital injection from Group						¥ 45,000
Contribution of property from non-controlling interests						¥ 5,000
Ownership interest by noncontrolling owner						10.00%

Summary of significant accounting policies - Cash and cash equivalents, and Accounts receivable (Details) ¥ in Thousands, SGD in Thousands, HKD in Thousands, AUD in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 SGD	Mar. 31, 2017 HKD	Mar. 31, 2017 AUD	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 SGD	Mar. 31, 2016 HKD	Mar. 31, 2016 AUD	Mar. 31, 2016 USD ($)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2014 CNY (¥)
Cash and Cash Equivalents
Cash and cash equivalents				$ 509,976	¥ 3,510,264				$ 437,067	¥ 3,008,422	¥ 2,436,655	¥ 1,882,901
Accounts receivable
Age of accounts receivable, local tax requirements on the write-offs of doubtful accounts (in year)	3 years
PRC
Cash and Cash Equivalents
Cash and cash equivalents				498,608	3,432,022					2,820,472
U.S. dollar
Cash and Cash Equivalents
Cash and cash equivalents				$ 5,707	39,476				$ 3,702	24,017
Australian dollars
Cash and Cash Equivalents
Cash and cash equivalents			AUD 1		6			AUD 1		5
Renminbi
Cash and Cash Equivalents
Cash and cash equivalents					3,432,042					2,820,503
Hong Kong dollars
Cash and Cash Equivalents
Cash and cash equivalents		HKD 43,679			38,735		HKD 197,049			163,885
Singapore dollars
Cash and Cash Equivalents
Cash and cash equivalents	SGD 1				¥ 5	SGD 2				¥ 12

Summary of significant accounting policies - Property, plant and equipment (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Property, plant and equipment, net
Depreciation expense	$ 6,662	¥ 45,860	¥ 45,545	¥ 45,988
Buildings \| Minimum
Property, plant and equipment, net
Estimated useful lives	37 years 6 months	37 years 6 months
Buildings \| Maximum
Property, plant and equipment, net
Estimated useful lives	50 years	50 years
Leasehold improvements
Property, plant and equipment, net
Estimated useful lives	10 years	10 years
Machineries \| Minimum
Property, plant and equipment, net
Estimated useful lives	5 years	5 years
Machineries \| Maximum
Property, plant and equipment, net
Estimated useful lives	10 years	10 years
Motor vehicles
Property, plant and equipment, net
Estimated useful lives	5 years	5 years
Furniture, fixtures and office equipment \| Minimum
Property, plant and equipment, net
Estimated useful lives	3 years	3 years
Furniture, fixtures and office equipment \| Maximum
Property, plant and equipment, net
Estimated useful lives	5 years	5 years
Construction-in-progress
Property, plant and equipment, net
Depreciation expense		¥ 0

Summary of significant accounting policies - Others (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($) item installment payment	Mar. 31, 2017 CNY (¥) item installment payment	Mar. 31, 2016 CNY (¥) installment payment	Mar. 31, 2015 CNY (¥) installment payment
Estimated useful life of the operating rights	30 years	30 years
Impairment of long-lived assets		¥ 0	¥ 0	¥ 0
Agreement with customers, blood storage period	18 years	18 years
Agreement with customers, blood storage renewal period	1 year	1 year	1 year	1 year
Penalty charged to customers for early termination of the storage service		¥ 0
Number of customer payment options \| payment	3	3	3	3
Number of installments for upfront payment of storage fees for a period of eighteen years, blood storage \| installment	4	4	4	4
Customer delinquent period before ceasing of recognizing storage revenue	24 months	24 months	24 months	24 months
Value-added tax rate (as a percent)	6.00%	6.00%
Advertising and promotion costs	$ 4,697	¥ 32,331	¥ 35,477	¥ 30,899
Number of operating segments \| item	1	1
Convertible notes
Debt issuance costs, amortization period	5 years	5 years

Summary of significant accounting policies - Recently issued accounting standards (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Recently issued accounting standards
Non-current deferred tax liabilities	$ 3,112	¥ 21,423	¥ 37,086
Balance Sheet Classification of Deferred Taxes
Recently issued accounting standards
Current deferred tax assets			(14,056)
Current deferred tax liabilities			(14,300)
Non-current deferred tax assets			14,056
Non-current deferred tax liabilities			¥ 14,300

Accounts receivable, net (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 USD ($)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2014 CNY (¥)
Accounts receivable, net
Accounts receivable	$ 53,069	¥ 365,283		¥ 390,550
Less: Allowance for doubtful accounts	(17,086)	(117,602)	$ (14,658)	(100,894)	¥ (83,835)	¥ (63,025)
Total accounts receivable, net	35,983	247,681		289,656
Accounts receivable, current portion	16,349	112,533		124,645
Accounts receivable, noncurrent portion	19,634	135,148		165,011
Cord blood processing fees
Accounts receivable, net
Accounts receivable, current portion	10,365	71,343		78,649
Accounts receivable, noncurrent portion	19,634	135,148		165,011
Cord blood storage fees
Accounts receivable, net
Accounts receivable, current portion	5,797	39,904		43,618
Fees derived from the provision of donated cord blood for transplantation and research and others
Accounts receivable, net
Accounts receivable, current portion	$ 187	¥ 1,286		¥ 2,378

Accounts receivable, net - Non current gross amounts (Details) - Mar. 31, 2017 ¥ in Thousands, $ in Thousands	USD ($)	CNY (¥)
Non-current gross accounts receivable
2019	$ 4,796	¥ 33,012
2020	4,302	29,612
2021	3,843	26,450
2022	3,583	24,663
2023 and thereafter	18,842	129,691
Non-current gross accounts receivable due for payment	$ 35,366	¥ 243,428

Accounts receivable, net - Aging (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Aging of gross accounts receivable based on due date
Total gross accounts receivable	$ 53,069	¥ 365,283	¥ 390,550
Not past due
Aging of gross accounts receivable based on due date
Total gross accounts receivable	36,156	248,865	276,405
Within one year past due
Aging of gross accounts receivable based on due date
Total gross accounts receivable	5,583	38,431	48,266
Between one to two years past due
Aging of gross accounts receivable based on due date
Total gross accounts receivable	5,166	35,556	33,170
Over two years past due
Aging of gross accounts receivable based on due date
Total gross accounts receivable	$ 6,164	¥ 42,431	¥ 32,709

Accounts receivable, net - Allowance for doubtful accounts (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Analysis of the allowance for doubtful accounts
Balance at beginning of year	$ 14,658	¥ 100,894	¥ 83,835	¥ 63,025
Charged to allowance for doubtful accounts	4,297	29,574	20,251	25,042
Write-off charged against the allowance for the year	(1,869)	(12,866)	(3,192)	(4,232)
Balance at end of year	$ 17,086	¥ 117,602	¥ 100,894	¥ 83,835

Inventories - Schedule (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Inventories
Current portion: - Consumables and supplies	$ 4,502	¥ 30,987	¥ 28,326
Non-current portion: - Processing costs capitalized in donated umbilical cord blood	9,992	68,775	64,322
Total current and non-current inventories	14,494	99,762	92,648
Consumables and supplies
Inventories
Current portion: - Consumables and supplies	4,502	30,987	28,326
Processing costs capitalized in donated umbilical cord blood
Inventories
Non-current portion: - Processing costs capitalized in donated umbilical cord blood	$ 9,992	¥ 68,775	¥ 64,322

Inventories - Provision (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
Inventories - Provision (Details) - CNY (¥) ¥ in Thousands	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Inventories
Provision for inventories	¥ 0	¥ 0	¥ 0
Weighted average remaining useful life of donated cord blood units	19 years
The estimated increase per annum in number of successful matches of donated units (as a percent)	7.00%

Prepaid expenses and other receivables (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Prepaid expenses and other receivables
Prepaid expenses	$ 1,781	¥ 12,257	¥ 17,294
VAT tax receivables	151	1,036	798
Other receivables	614	4,231	6,320
Total prepaid expenses and other receivables	$ 2,546	¥ 17,524	¥ 24,412

Property, plant and equipment, net - Composition (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Property, plant and equipment, net
Property, plant and equipment	$ 120,120	¥ 826,816	¥ 806,747
Less: Accumulated depreciation	(40,007)	(275,382)	(232,180)
Total property, plant and equipment, net	80,113	551,434	574,567
Buildings
Property, plant and equipment, net
Property, plant and equipment	86,205	593,369	584,661
Leasehold improvements
Property, plant and equipment, net
Property, plant and equipment	2,159	14,864	14,864
Machineries
Property, plant and equipment, net
Property, plant and equipment	22,425	154,359	149,213
Motor vehicles
Property, plant and equipment, net
Property, plant and equipment	2,492	17,152	15,808
Furniture, fixtures and equipment
Property, plant and equipment, net
Property, plant and equipment	6,431	44,266	41,099
Construction-in-progress
Property, plant and equipment, net
Property, plant and equipment	$ 408	¥ 2,806	¥ 1,102

Property, plant and equipment, net - Depreciation expense (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Property, plant and equipment, net
Depreciation expense	$ 6,662	¥ 45,860	¥ 45,545	¥ 45,988
Direct costs
Property, plant and equipment, net
Depreciation expense	4,341	29,883	29,812	28,819
Research and development
Property, plant and equipment, net
Depreciation expense	199	1,372	1,118	2,231
Sales and marketing
Property, plant and equipment, net
Depreciation expense	443	3,051	3,070	2,530
General and administrative
Property, plant and equipment, net
Depreciation expense	$ 1,679	¥ 11,554	¥ 11,545	¥ 12,408

Property, plant and equipment, net - Buildings collaterized (Details) ¥ in Thousands	Mar. 31, 2016 CNY (¥)
Property, plant and equipment, net
Bank loan	¥ 60,000
Buildings \| Short-term bank loan
Property, plant and equipment, net
Carrying value of buildings collateralized for loans	100,479
Bank loan	¥ 60,000

Non-current deposits (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Investment deposit	$ 33,825	¥ 232,824	¥ 218,358
Deposit for purchase of machineries	677	4,663	21
Total non-current deposits	34,502	237,487	¥ 218,379
Potential Seller
Investment deposit	$ 33,660	¥ 232,824

Intangible assets, net - Schedule (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Intangible assets, net
Cord blood bank operating rights	$ 20,140	¥ 138,628	¥ 138,628
Less: Accumulated depreciation	(4,641)	(31,942)	(27,321)
Total intangible assets, net	$ 15,499	¥ 106,686	¥ 111,307

Intangible assets, net - Narrative (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2011 USD ($)	Feb. 28, 2011 CNY (¥)	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2017 CNY (¥)
Finite-Lived Intangible Assets
Estimated useful life of operating rights			30 years	30 years
Amortization expense of operating rights			$ 672	¥ 4,621	¥ 4,621	¥ 4,621
Deferred tax liability			$ 3,874		27,827		¥ 26,672
Period of expected cash flow			30 years	30 years
Guangdong province
Finite-Lived Intangible Assets
Estimated useful life of operating rights			30 years	30 years
Amortization expense of operating rights			$ 141	¥ 971	971	971
Zhejiang province
Finite-Lived Intangible Assets
Estimated useful life of operating rights			30 years	30 years
Amortization expense of operating rights			$ 531	¥ 3,650	¥ 3,650	¥ 3,650
Consideration for operating rights	$ 12,500	¥ 82,124
Value of acquired operating rights				¥ 109,499
Deferred tax liability							¥ 27,375
Guangdong and Zhejiang
Finite-Lived Intangible Assets
General renewal period with provincial authorities			3 years	3 years
Beijing
Finite-Lived Intangible Assets
General renewal period with provincial authorities			9 years	9 years

Intangible assets, net - Estimated amortization (Details) - Mar. 31, 2017 ¥ in Thousands, $ in Thousands	USD ($)	CNY (¥)
Intangible assets, net
2018	$ 671	¥ 4,621
2019	671	4,621
2020	671	4,621
2021	671	4,621
2022	671	4,621
2023 and thereafter	12,144	83,581
Total amortization expenses	$ 15,499	¥ 106,686

Available-for-sale equity securities - Schedule (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Schedule of Available-for-sale Securities
Available-for-sale equity securities	$ 29,171	¥ 200,790	¥ 162,734
Listed equity securities
Schedule of Available-for-sale Securities
Available-for-sale equity securities	19,132	131,693	162,734
Listed equity securities \| Life Corporation Limited - listed on Australian Securities Exchange
Schedule of Available-for-sale Securities
Available-for-sale equity securities	31	214	1,607
Listed equity securities \| Cordlife Group Limited - listed on Singapore Exchange
Schedule of Available-for-sale Securities
Available-for-sale equity securities	19,101	131,479	¥ 161,127
Listed fund investments
Schedule of Available-for-sale Securities
Available-for-sale equity securities	$ 10,039	¥ 69,097

Available-for-sale equity securities - Narrative (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($) shares	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥) shares	Mar. 31, 2015 CNY (¥)	Mar. 31, 2017 CNY (¥) shares
Schedule of Available-for-sale Securities
Consideration made to acquire available-for-sale equity securities	$ 9,611	¥ 66,154		¥ 4,647
Dividend income	7	45	¥ 49,198	2,344
Impairment loss on available-for-sale equity securities	368	2,533	8,361
Cost basis of the available-for-sale equity securities	14,615		36,976		¥ 100,597
The aggregate fair values of the available-for-sale equity securities	$ 29,171		¥ 162,734		¥ 200,790
Life Corporation Limited - listed on Australian Securities Exchange
Schedule of Available-for-sale Securities
Ordinary shares held	8,122,222		8,122,222		8,122,222
Percentage equity interest owned	11.40%		11.40%		11.40%
Impairment loss on available-for-sale equity securities	$ 368	2,533	¥ 8,361
Total unrealized holding gain (loss)	$ (27)		¥ (1,276)		¥ (185)
Cordlife Group Limited - listed on Singapore Exchange
Schedule of Available-for-sale Securities
Ordinary shares held	25,516,666		25,516,666		25,516,666
Percentage equity interest owned	9.80%		9.80%		9.80%
Dividend income \| ¥		0	¥ 17,007	¥ 2,344
Total unrealized holding gain (loss)	$ 13,370		¥ 130,794		¥ 92,025
Industry specific fund
Schedule of Available-for-sale Securities
Consideration made to acquire available-for-sale equity securities	10,000	¥ 66,154
Other investment
Schedule of Available-for-sale Securities
Total unrealized holding gain (loss)	$ (10)				¥ (72)

Other investment (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
Other investment (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2017 CNY (¥)
Schedule of Cost Method Investments
Unlisted equity securities, at cost	$ 27,477		¥ 189,129		¥ 189,129
Dividend income	$ 7	¥ 45	¥ 49,198	¥ 2,344
Qilu Stem Cells
Schedule of Cost Method Investments
Percentage equity interest acquired	24.00%	24.00%	24.00%
Dividend income		¥ 0	¥ 31,800	¥ 0

Bank loan (Details) - Short-term bank loan - CNY (¥) ¥ in Thousands	Oct. 09, 2015	Aug. 25, 2014
Bank loan
Amount borrowed	¥ 60,000	¥ 60,000
Term of the loan	1 year	1 year
Monthly fixed interest rate (as a percent)	0.46%	0.60%

Accrued expenses and other payables (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)
Accrued expenses and other payables
Insurance premium received on behalf of insurance company	$ 4,119	¥ 28,348	¥ 23,591
Other tax payables	634	4,365	2,489
Accrued salaries, bonus and welfare expenses	1,274	8,770	17,343
Accrued consultancy and professional fees	721	4,961	3,601
Payable for property, plant and equipment	160	1,098	1,119
Other payables	2,559	17,620	13,161
Total accrued expenses and other payables	$ 9,467	¥ 65,162	¥ 61,304

Deferred revenue - Composition (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 USD ($)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2014 CNY (¥)
Deferred revenue
Current portion	$ 47,026	¥ 323,690		¥ 257,692
Non-current portion	228,030	1,569,579		1,321,239
Total current and non-current deferred revenue	275,056	1,893,269		1,578,931
Payments by customers prior to completion of cord blood processing services
Deferred revenue
Total current and non-current deferred revenue	18,869	129,880		96,857
Unearned storage fees
Deferred revenue
Total current and non-current deferred revenue	$ 256,187	¥ 1,763,389	$ 215,318	¥ 1,482,074	¥ 1,232,243	¥ 926,756

- Definition

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

+ References + Details

- Definition

The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References + Details

Deferred revenue - Rollforward (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Analysis of deferred revenue
Balance at beginning of year		¥ 1,578,931
Balance at end of year	$ 275,056	1,893,269	¥ 1,578,931
Unearned storage fees
Analysis of deferred revenue
Balance at beginning of year	215,318	1,482,074	1,232,243	¥ 926,756
Deferred revenue arising from new customers	81,297	559,588	493,354	509,334
Credited to income	(40,428)	(278,273)	(243,523)	(203,847)
Balance at end of year	$ 256,187	¥ 1,763,389	¥ 1,482,074	¥ 1,232,243

Convertible notes, net (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands		1 Months Ended	12 Months Ended
	May 31, 2015 USD ($)	Nov. 30, 2014 USD ($)	Mar. 31, 2017 USD ($)	Mar. 31, 2013 USD ($)	Mar. 31, 2013 CNY (¥)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Dec. 01, 2014 USD ($)	Oct. 03, 2012 USD ($) $ / shares	Apr. 27, 2012 USD ($) $ / shares
Carrying amounts of Notes
Convertible notes, net			$ 149,807			¥ 1,031,154	¥ 906,222
Representing:
Current portion			149,807			1,031,154
Non-current portion \| ¥							906,222
Convertible notes, net			$ 149,807			¥ 1,031,154	906,222
GM Notes
Convertible notes, net
Denomination of the GM Notes		$ 50,000						$ 25,000
GM Notes \| Cordlife Group Limited - listed on Singapore Exchange
Convertible notes, net
Aggregate principal amount		25,000
GM Notes \| Magnum
Convertible notes, net
Aggregate principal amount		25,000
GMHL \| Cordlife Group Limited - listed on Singapore Exchange
Convertible notes, net
Proceeds from sale of the GM Notes	$ 61,677
GMHL \| Magnum
Convertible notes, net
Proceeds from sale of the GM Notes	$ 61,896
GMHL \| GM Notes
Convertible notes, net
Proceeds from sale of the GM Notes		$ 88,090
Convertible notes
Convertible notes, net
Default interest rate			22.50%			22.50%
Guaranteed internal rate of return			12.00%
Interest rate			7.00%			7.00%
Debt issuance costs, amortization period			5 years
Carrying amounts of Notes
Cumulative interest payables			$ 34,343			¥ 236,389	164,624
Less: Unamortized debt issuance costs			$ (101)			(695)	(4,437)
Convertible notes \| KKR Notes
Convertible notes, net
Aggregate principal amount										$ 65,000
Guaranteed internal rate of return			12.00%
Interest rate										7.00%
Conversion price per share \| $ / shares										$ 2.838
Proceeds from issuance of convertible notes				$ 65,000
Issuance costs incurred \| ¥					¥ 14,260
Carrying amounts of Notes
Principal amount of Notes			$ 65,319			449,608	421,672
Convertible notes \| GM Notes
Convertible notes, net
Aggregate principal amount									$ 50,000
Guaranteed internal rate of return			12.00%
Interest rate									7.00%
Conversion price per share \| $ / shares									$ 2.838
Proceeds from issuance of convertible notes				$ 50,000
Issuance costs incurred \| ¥					¥ 4,258
Carrying amounts of Notes
Principal amount of Notes			$ 50,246			¥ 345,852	¥ 324,363

Convertible notes, net - Interest (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Convertible notes, net
Amortization of debt issuance costs	$ 573	¥ 3,947	¥ 3,712	¥ 3,610
Convertible notes
Convertible notes, net
Amortization of debt issuance costs	573	3,947	3,712	3,610
Total interest expense	17,134	117,940	104,918	96,840
Convertible notes \| KKR Notes
Convertible notes, net
Notes interest incurred	9,462	65,130	57,807	53,222
Convertible notes \| GM Notes
Convertible notes, net
Notes interest incurred	$ 7,099	¥ 48,863	¥ 43,399	¥ 40,008

Shareholders' equity (Details) ¥ in Thousands, $ in Thousands			1 Months Ended	12 Months Ended
	Jul. 25, 2017 USD ($)	Jul. 28, 2016 USD ($)	Nov. 30, 2012 shares	Mar. 31, 2017 USD ($) shares	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥) shares	Mar. 31, 2015 CNY (¥) shares	Mar. 31, 2013 CNY (¥) shares	Mar. 31, 2017 CNY (¥) shares
Shareholders' equity
Ordinary shares, shares outstanding				73,003,248		73,003,248	73,003,248		73,003,248
Ordinary shares, shares issued				73,140,147		73,140,147	73,140,147		73,140,147
The percentage of net income that Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou required to transfer to surplus reserve				10.00%	10.00%
The percentage of their respective registered capital that the statutory surplus reserve must reach before Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou are not required to transfer their net income				50.00%	50.00%
The percentage of registered capital that must be retained in the statutory surplus reserve balance after conversion into issued capital				25.00%	25.00%
Aggregate transfers made to the statutory surplus reserves by Beijing Jiachenhong, Guangzhou Nuoya and Zhejiang Lukou				$ 285	¥ 1,964	¥ 16,443	¥ 8,471
Accumulated statutory surplus reserve				$ 18,569		¥ 125,851			¥ 127,815
Purchase of Treasury Stock, shares								7,450,914
Purchase of Treasury Stock \| ¥								¥ 131,302
Sale of treasury shares, shares			7,314,015					7,314,015
Treasury stock, shares				136,899		136,899			136,899
Share repurchase program, amount \| $	$ 20,000	$ 20,000
Share repurchase program, period	12 months	12 months

Revenues (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
Revenues (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Revenues from External Customers
Total revenues	$ 110,411	¥ 759,978	¥ 662,999	¥ 635,122
Cord blood processing fees
Revenues from External Customers
Total revenues	69,335	477,243	415,000	428,261
Cord blood storage fees
Revenues from External Customers
Total revenues	40,428	278,273	243,523	203,847
Fees derived from the provision of donated cord blood for transplantation and research and others
Revenues from External Customers
Total revenues	$ 648	¥ 4,462	¥ 4,476	¥ 3,014

Income tax - Tax rates (Details) ¥ in Thousands, $ in Thousands	12 Months Ended				36 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2017 CNY (¥)
Income tax
Tax expense	$ 5,466	¥ 37,622	¥ 50,000	¥ 47,327
Provision for withholding tax			14,300
Reversal of withholding income tax	2,078									¥ 14,300
Provision for income taxes on undistributed earnings		0
Undistributed earnings that may be subject to the withholding tax	233,774									1,609,119
Unrecognized deferred tax liability from unremitted earnings of PRC subsidiaries	$ 23,377									¥ 160,912
Cayman Islands
Income tax
Withholding tax amount on dividends		0
Hong Kong
Income tax
Tax expense		¥ 0	¥ 0	¥ 0
PRC subsidiary
Income tax
Statutory income tax rate	25.00%	25.00%
Beijing Jiachenhong
Income tax
HNTE preferential tax rate								15.00%
Beijing Jiachenhong \| Forecast
Income tax
HNTE preferential tax rate					15.00%
Guangzhou Nuoya
Income tax
HNTE preferential tax rate									15.00%
Guangzhou Nuoya \| Forecast
Income tax
HNTE preferential tax rate						15.00%
Zhejiang Lukou \| Forecast
Income tax
HNTE preferential tax rate							15.00%

Income tax - Income before income tax (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Income tax
Income before income tax expense	$ 24,162	¥ 166,311	¥ 141,333	¥ 155,120
The PRC
Income tax
Income before income tax expense, The PRC	53,093	365,448	323,510	284,288
Hong Kong
Income tax
Income before income tax expense, Non-PRC	(5)	(36)	405	(43)
British Virgin Islands
Income tax
Income before income tax expense, Non-PRC	(434)	(2,985)	8,288	1,916
Cayman Islands
Income tax
Income before income tax expense, Non-PRC	$ (28,492)	¥ (196,116)	¥ (190,870)	¥ (131,041)

Income tax - Curent and deferred (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Income tax
Current tax expense	$ 8,537	¥ 58,767	¥ 51,060	¥ 48,239
Deferred tax expense	(3,071)	(21,145)	(1,060)	(912)
Total income tax expense	$ 5,466	¥ 37,622	¥ 50,000	¥ 47,327

Income tax - Reconciliation of expected income tax to actual income tax expense (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Income Tax [Line Items]
Income before income tax expense	$ 24,162	¥ 166,311	¥ 141,333	¥ 155,120
Computed "expected" tax expense	6,041	41,578	35,333	38,780
PRC dividend withholding tax	(2,078)	(14,300)	5,200	5,200
Non-taxable income			(7,950)
Preferential tax rates	(5,801)	(39,931)	(33,049)	(29,663)
Others	72	491	4,922	718
Total income tax expense	5,466	37,622	50,000	47,327
Hong Kong
Income Tax [Line Items]
Non-PRC entities not subject to income tax	1	9	(101)	11
Total income tax expense		0	0	0
British Virgin Islands
Income Tax [Line Items]
Non-PRC entities not subject to income tax	108	746	(2,072)	(479)
Cayman Islands
Income Tax [Line Items]
Non-PRC entities not subject to income tax	$ 7,123	¥ 49,029	¥ 47,717	¥ 32,760

Income tax - Deferred tax assets and liabilities (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2017 CNY (¥)
Deferred tax assets:
Accounts receivable	$ 2,593		¥ 13,757		¥ 17,850
Non-current accounts receivable	1,744		10,624		12,003
Inventories	330		2,273		2,273
Others	128		494		881
Net deferred tax assets	4,795		27,148		33,007
Deferred tax liabilities:
Deferred revenue	(10)		(76)		(67)
Property, plant and equipment	(804)		(5,358)		(5,536)
PRC dividend withholding tax			(14,300)
Intangible assets	(3,874)		(27,827)		(26,672)
Deferred tax liabilities	(4,688)		(47,561)		(32,275)
Net deferred tax liabilities			(20,413)
Net deferred tax assets	107				732
Classification on consolidated balance sheets:
Non-current deferred tax assets	3,219		16,673		22,155
Non-current deferred tax liabilities	(3,112)		(37,086)		(21,423)
Net deferred tax liabilities			(20,413)
Net deferred tax assets	$ 107				¥ 732
Interest and penalties related to unrecognized tax benefits		¥ 0	¥ 0	¥ 0
The PRC
Classification on consolidated balance sheets:
Statute of limitation, underpayment due to computational errors	3 years	3 years
Statute of limitation, special circumstances where underpayment is more than RMB100	5 years	5 years
Underpayment of taxes threshold that extends the statute of limitation	$ 15	¥ 100
Statute of limitation, transfer pricing issues	10 years	10 years

Share-based compensation (Details) - Restricted Share Unit $ / shares in Units, ¥ in Thousands, $ in Thousands		12 Months Ended				73 Months Ended
	Dec. 15, 2014 $ / shares shares	Mar. 31, 2017 USD ($) shares	Mar. 31, 2017 CNY (¥) shares	Mar. 31, 2016 CNY (¥) shares	Mar. 31, 2015 CNY (¥)	Mar. 31, 2017 shares
Share-based compensation
Term of RSU Scheme						10 years
Shares granted in period	7,300,000
Number of equivalent shares	1
Fair value of each RSU \| $ / shares	$ 4.15
Outstanding RSUs (in shares)		7,300,000	7,300,000	7,300,000		7,300,000
Exercisable RSUs (in shares)		0	0	0		0
Weighted average remaining contract life		1 year	1 year	2 years
Total share-based compensation expense		$ 9,042	¥ 62,241	¥ 58,684	¥ 16,535
Direct costs
Share-based compensation
Total share-based compensation expense		227	1,565	1,475	416
Sales and marketing
Share-based compensation
Total share-based compensation expense		2,529	17,408	16,413	4,624
General and administrative
Share-based compensation
Total share-based compensation expense		$ 6,286	¥ 43,268	¥ 40,796	¥ 11,495

Earnings per share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($) $ / shares shares	Mar. 31, 2017 CNY (¥) ¥ / shares shares	Mar. 31, 2016 USD ($) shares	Mar. 31, 2016 CNY (¥) ¥ / shares shares	Mar. 31, 2015 CNY (¥) ¥ / shares shares
Numerator:
Net income attributable to the Company's shareholders	$ 18,333	¥ 126,190		¥ 90,970	¥ 107,292
Earnings allocated to participating convertible notes	(1,456)	(10,019)		0	(8,108)
Net income for basic and diluted net income per share	$ 16,877	¥ 116,171		¥ 90,970	¥ 99,184
Denominator:
Weighted average ordinary shares outstanding for basic and diluted net income per share	73,003,248	73,003,248	73,003,248	73,003,248	73,003,248
Earnings per share
Basic \| (per share)	$ 0.23	¥ 1.59		¥ 1.25	¥ 1.36
Diluted \| (per share)	$ 0.23	¥ 1.59		¥ 1.25	¥ 1.36
Excess cash dividend \| $			$ 0
Anti-dilutive ordinary shares	40,521,494	40,521,494	40,521,494	40,521,494	40,521,494
Convertible notes
Earnings per share
Interest rate	7.00%	7.00%

Related party transactions (Details) ¥ in Thousands, $ in Thousands	7 Months Ended	12 Months Ended
	Oct. 31, 2015 CNY (¥)	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)	Mar. 31, 2017 CNY (¥)
Related Party Transaction
Incomes earned		$ 3,823	¥ 26,316
Interest expenses		16,561	113,993	¥ 78,014	¥ 40,008
Amounts due to related parties		680		53,255		¥ 4,679
Beijing Jingjing \| Rental of properties
Related Party Transaction
Expenses incurred			0	1,440	1,440
Monthly rental payment				120	120
China Bright Group Co. Limited \| Raw material purchase
Related Party Transaction
Raw material purchase		5,289	36,405	37,556	15,683
GMHL, Beijing Jingjing and China Bright
Related Party Transaction
Amounts due to related parties		680		53,255		¥ 4,679
Golden Meditech (S) Pte Ltd. \| Consultancy expenses
Related Party Transaction
Expenses incurred		630	4,337	4,078	1,984
Cordlife Group Limited - listed on Singapore Exchange \| License fee
Related Party Transaction
Expenses incurred	¥ 317			¥ 317	¥ 321
GMHL \| Consultancy income
Related Party Transaction
Incomes earned		2,439	16,786
GMHL \| Data access income
Related Party Transaction
Incomes earned		$ 3,823	¥ 26,316

Employee benefits (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
Employee benefits (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Employee benefits
Defined contribution plan expense	$ 3,559	¥ 24,495	¥ 20,581	¥ 17,018
Sales and marketing
Employee benefits
Defined contribution rate	55.00%	55.00%	55.00%	51.00%
Beijing Jiachenhong
Employee benefits
Defined contribution rate	40.00%	40.00%
Guangzhou Nuoya
Employee benefits
Defined contribution rate	40.00%	40.00%
Zhejiang Lukou
Employee benefits
Defined contribution rate	40.00%	40.00%

Fair value measurements (Details) ¥ in Thousands, $ in Thousands	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 USD ($)	Mar. 31, 2016 CNY (¥)
Fair value measurements
Carrying value of convertible notes	$ 149,807	¥ 1,031,154		¥ 906,222
Level 3
Fair value measurements
Fair value of convertible notes	278,254	1,915,278	$ 256,166
Carrying value (before deducting unamortized debt issuance costs)
Fair value measurements
Carrying value of convertible notes	$ 149,908	¥ 1,031,849		¥ 910,659

Business and credit concentrations (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Mar. 31, 2015 CNY (¥)
Supplier \| Purchases of raw materials
Concentration Risk
Purchases from suppliers	$ 5,289	¥ 36,405	¥ 37,556	¥ 22,283
Percentage of purchases	52.00%	52.00%	49.00%	35.00%
Supplier \| Purchases of raw materials \| China Bright Group Co. Limited
Concentration Risk
Purchases from suppliers	$ 5,289	¥ 36,405	¥ 37,556	¥ 15,683
Percentage of purchases	52.00%	52.00%	49.00%	25.00%
Supplier \| Purchases of raw materials \| Hangzhou Baitong Biological Technology Co., Ltd.
Concentration Risk
Purchases from suppliers				¥ 6,600
Percentage of purchases				10.00%
Beijing \| Customers \| Net revenue
Concentration Risk
Percentage of purchases	28.80%	28.80%	31.60%	36.10%
Guangdong province \| Customers \| Net revenue
Concentration Risk
Percentage of purchases	58.70%	58.70%	58.80%	55.60%
Zhejiang province \| Customers \| Net revenue
Concentration Risk
Percentage of purchases	12.50%	12.50%	9.60%	8.30%

Commitments and contingencies - Future minimum payments, Leases (Details) - Mar. 31, 2017 ¥ in Thousands, $ in Thousands	USD ($)	CNY (¥)
Commitments and contingencies
2017	$ 34	¥ 236
2018	26	182
Total payments	$ 60	¥ 418

Commitments and contingencies - Contractual commitments (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		47 Months Ended	88 Months Ended
	Oct. 31, 2013 USD ($)	Oct. 31, 2013 CNY (¥)	Sep. 30, 2013 CNY (¥)	Sep. 30, 2013 CNY (¥)	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 USD ($)	Mar. 31, 2016 CNY (¥)
Research and development of medicines
Contractual commitments
Commitment as of year end					$ 291	¥ 2,000	$ 291	¥ 2,000
Co-operation agreement
Contractual commitments
Commitment as of year end					$ 12,083	¥ 83,167
Co-operation agreement \| Peking University People's Hospital
Contractual commitments
Annual advisory fee	$ 377	¥ 2,600		¥ 2,000
Annual advisory fee, time period	20 years	20 years
Co-operation agreement \| Guangdong Women and Children's Hospital and Health Institute
Contractual commitments
Annual advisory fee	$ 465	¥ 3,200	¥ 2,000

Commitments and contingencies - Future minimum payments, cooperation agreements (Details) - Mar. 31, 2017 - Co-operation agreement ¥ in Thousands, $ in Thousands	USD ($)	CNY (¥)
Future minimum payments under cooperation agreements
2018	$ 843	¥ 5,800
2019	843	5,800
2020	843	5,800
2021	843	5,800
2022	843	5,800
2023 and thereafter	7,868	54,167
Total payments	$ 12,083	¥ 83,167

Subsequent events (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	1 Months Ended
	Apr. 30, 2017 USD ($) $ / shares shares	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Mar. 31, 2016 CNY (¥)	Oct. 03, 2012 $ / shares	Apr. 27, 2012 $ / shares
Subsequent events
Outstanding convertible notes		$ 149,807	¥ 1,031,154	¥ 906,222
Convertible notes \| Subsequent events \| Golden Meditech (S) Pte Ltd.
Subsequent events
Conversion amount of notes \| $	$ 115,000
Conversion price per share	$ 2.838
Number of shares issued in conversion of notes (in shares) \| shares	40,521,494
Outstanding convertible notes \| $	$ 0
KKR Notes \| Convertible notes
Subsequent events
Conversion price per share						$ 2.838
GM Notes \| Convertible notes
Subsequent events
Conversion price per share					$ 2.838

Summary of significant accounting policies - Foreign currency translation (Details)	Mar. 31, 2017 ¥ / $
Summary of significant accounting policies
Foreign currency convenience translation rate	6.8832