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Parent company only condensed financial information | 12 Months Ended
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Dec. 31, 2014
Parent company only condensed financial information |
Parent company only condensed financial information | 31. Parent company only condensed financial information The Company performed a test on the restricted net assets of consolidated subsidiaries, VIEs and VIEs’ subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the parent company. The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2014 Condensed Balance Sheet
|  | As of December 31, |
|  | 2013 |  | 2014 |
|  | RMB |  | RMB |  | US$ |
|  |  |  |  |  | Note 2(e) |
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents |  | 12,475 |  | 8,128,802 |  | 1,310,125 |
Short-term investments |  | — |  | 6,119,000 |  | 986,204 |
Prepayments and other current assets |  | — |  | 66,209 |  | 10,671 |
Amount due from related parties |  | — |  | 170,592 |  | 27,494 |
Total current assets |  | 12,475 |  | 14,484,603 |  | 2,334,494 |
Non-current assets: |  |  |  |  |  |  |
Investments in subsidiaries and VIEs |  | 9,237,302 |  | 16,563,755 |  | 2,669,593 |
Intangible assets, net |  | 1,845 |  | 6,456,198 |  | 1,040,550 |
Total non-current assets |  | 9,239,147 |  | 23,019,953 |  | 3,710,143 |
Total assets |  | 9,251,622 |  | 37,504,556 |  | 6,044,637 |
LIABILITIES |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accrued expenses and other liabilities |  | 11,794 |  | 6,489 |  | 1,045 |
Total liabilities |  | 11,794 |  | 6,489 |  | 1,045 |
|  | As of December 31, |
|  | 2013 |  | 2014 |
|  | RMB |  | RM B |  | US$ |
|  |  |  |  |  | Note2(e) |
MEZZANINE EQUITY |  |  |  |  |  |  |
Series C convertible redeemable preferred share (US$0.00002 par value; 258,316,305 shares authorized, issued and outstanding as of December 31, 2013; Redemption value of RMB7,918,251 and Liquidation value of RMB1,219,380 as of December 31, 2013; None issued and outstanding as of December 31, 2014) |  | 7,173,263 |  | — |  | — |
SHAREHOLDERS’ EQUITY: |  |  |  |  |  |  |
Series A and A-1 convertible preferred shares (US$0.00002 par value; 221,360,925 shares authorized, 191,894,000 shares issued and outstanding as of December 31, 2013; None issued and outstanding as of December 31, 2014) |  | 255,850 |  | — |  | — |
Series B convertible preferred shares (US$0.00002 par value; 84,786,405 shares authorized, 59,539,244 shares issued and outstanding as of December 31, 2013; None issued and outstanding as of December 31, 2014) |  | 88,241 |  | — |  | — |
Ordinary shares (US$0.00002 par value, 2,435,536,365 shares authorized, 1,502,933,134 shares issued and 1,463,654,092 shares outstanding as of December 31, 2013; and 100,000,000,000 shares authorized, 2,237,460,751 Class A ordinary shares issued and 2,208,310,595 outstanding, 556,295,899 Class B ordinary shares issued and 523,407,762 Class B ordinary shares outstanding as of December 31, 2014) |  | 199 |  | 358 |  | 58 |
Additional paid-in capital |  | 6,251,869 |  | 47,131,172 |  | 7,596,166 |
Statutory reserves |  | 2,648 |  | 15,009 |  | 2,419 |
Treasury stock |  | — |  | (4 | ) | (1 | )
Accumulated deficit |  | (4,263,624 | ) | (9,272,343 | ) | (1,494,430 | )
Accumulated other comprehensive loss |  | (268,618 | ) | (376,125 | ) | (60,620 | )
Total shareholders’ equity |  | 2,066,565 |  | 37,498,067 |  | 6,043,592 |
Total liabilities, mezzanine equity and shareholders’ equity |  | 9,251,622 |  | 37,504,556 |  | 6,044,637 |
Condensed Statements of Operations and Comprehensive Loss
|  | For the year ended December 31, |
|  | 2012 |  | 2013 |  | 2014 |
|  | RMB |  | RMB |  | RMB |  | US$ |
Operating expenses |  |  |  |  |  |  |  |  |
Marketing |  | — |  | — |  | (915,455 | ) | (147,545 | )
General and administrative |  | (18,581 | ) | (4,065 | ) | (3,834,699 | ) | (618,041 | )
Loss from operations |  | (18,581 | ) | (4,065 | ) | (4,750,154 | ) | (765,586 | )
Equity in loss of subsidiaries and VIEs |  | (1,750,074 | ) | (164,843 | ) | (449,816 | ) | (72,497 | )
Interest income, net |  | 37,190 |  | 3,987 |  | 183,294 |  | 29,542 |
Others, net |  | 1,992 |  | 115,022 |  | 20,318 |  | 3,275 |
Net loss |  | (1,729,473 | ) | (49,899 | ) | (4,996,358 | ) | (805,266 | )
Preferred shares redemption value accretion |  | (1,587,454 | ) | (2,435,366 | ) | (7,957,640 | ) | (1,282,539 | )
Net loss attributable to holders of permanent equity securities |  | (3,316,927 | ) | (2,485,265 | ) | (12,953,998 | ) | (2,087,805 | )
Net loss |  | (1,729,473 | ) | (49,899 | ) | (4,996,358 | ) | (805,266 | )
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments |  | (7,546 | ) | (137,921 | ) | (121,612 | ) | (19,600 | )
Net change in unrealized gains on available-for-sale securities: |  |  |  |  |  |  |  |  |
Unrealized gains, nil of tax |  | — |  | 96,501 |  | 71,286 |  | 11,489 |
Reclassification adjustment for gains included in interest income, nil of tax |  | — |  | (73,277 | ) | (57,181 | ) | (9,216 | )
Net unrealized gains on available-for-sale securities |  | — |  | 23,224 |  | 14,105 |  | 2,273 |
Total other comprehensive loss |  | (7,546 | ) | (114,697 | ) | (107,507 | ) | (17,327 | )
Comprehensive loss |  | (1,737,019 | ) | (164,596 | ) | (5,103,865 | ) | (822,593 | )
Condensed Statements of Cash Flow
|  | For the year ended December 31, |
|  | 2012 |  | 2013 |  | 2014 |
|  | R MB |  | RMB |  | RMB |  | US$ |
Net cash provided by/ (used in)operating activities |  | 35,559 |  | (1,209 | ) | 101,150 |  | 16,302 |
Net cash used in investing activities |  | (3,574,993 | ) | (5,399,613 | ) | (9,069,394 | ) | (1,461,721 | )
Net cash provided by financing activities |  | 1,981,595 |  | 2,720,076 |  | 17,447,655 |  | 2,812,052 |
Effect of exchange rate changes on cash and cash equivalents |  | (6,445 | ) | (51,988 | ) | (363,084 | ) | (58,519 | )
Net (decrease)/increase in cash and cash equivalents |  | (1,564,284 | ) | (2,732,734 | ) | 8,116,327 |  | 1,308,114 |
Cash and cash equivalents at beginning of year |  | 4,309,493 |  | 2,745,209 |  | 12,475 |  | 2,011 |
Cash and cash equivalents at end of year |  | 2,745,209 |  | 12,475 |  | 8,128,802 |  | 1,310,125 |
Basis of presentation The Company’s accounting policies are the same as the Group’s accounting policies with the exception of the accounting for the investments in subsidiaries, VIEs and VIEs’ subsidiaries. For the Company only condensed financial information, the Company records its investments in subsidiaries, VIEs and VIEs’ subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investment in subsidiaries and VIEs” and the subsidiaries and VIEs’ loss as “Equity in loss of subsidiaries and VIEs” on the Condensed Statements of Operations and Comprehensive Loss. The parent company only condensed financial information should be read in conjunction with the Group’ consolidated financial statements.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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