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Net loss per share
 12 Months Ended
Dec. 31, 2014
Net loss per share  
Net loss per share

 

24.  Net loss per share

 

Basic and diluted net loss per share for each of the years presented are calculated as follows:

 

 

 

For the year ended December 31,

 

 

 

2012

 

2013

 

2014

 

 

 

RMB

 

RMB

 

RMB

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

Net loss

 
(1,729,473

)
(49,899

)
(4,996,358

)

Series C Preferred Shares redemption value accretion

 
(1,587,454

)
(2,435,366

)
(7,957,640

)

Net loss attributable to the holders of permanent equity securities

 
(3,316,927

)
(2,485,265

)
(12,953,998

)

Numerator for basic net loss per share of permanent equity securities

 
(3,316,927

)
(2,485,265

)
(12,953,998

)

Numerator for diluted net loss per share of permanent equity securities

 
(3,316,927

)
(2,485,265

)
(12,953,998

)

Denominator:

 

 

 

 

 

 

 

Weighted average number of permanent equity securities — basic

 
1,523,639,783

 
1,694,495,048

 
2,419,668,247

 

Weighted average number of permanent equity securities — diluted

 
1,523,639,783

 
1,694,495,048

 
2,419,668,247

 

Basic net loss per share attributable to the holders of permanent equity securities

 
(2.18

)
(1.47

)
(5.35

)

Diluted net loss per share attributable to the holders of permanent equity securities

 
(2.18

)
(1.47

)
(5.35

)

 

Generally, basic net loss per share is computed using the weighted average number of ordinary shares outstanding during the period. Diluted net loss per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the period.

 

As a result of the modification of the Series A, A-1 and B Preferred Shares on September 21, 2010, the Series A, A-1 and B Preferred Shares were classified as separate classes of permanent equity securities with no senior or prior rights to ordinary shares, except for the dividend rights. Accordingly for the years ended December 31, 2012, 2013 and 2014, the “two-class” method is required to be used for the calculation of net loss per share. Since the Company did not declare any dividends for the years ended December 31, 2012, 2013 and 2014, the net loss per share attributable to each class would be the same under the “two-class” method for the years ended December 31, 2012, 2013 and 2014. As such, the three classes of shares have been presented on a combined basis in the Consolidated Statements of Operations and Comprehensive Loss and in the above computation of net loss per share.

 

Diluted net loss per share is computed using the weighted average number of ordinary shares, Series A, A-1 and B Preferred Shares and dilutive potential ordinary shares outstanding during the respective year. The potentially dilutive securities that were not included in the calculation of diluted net loss per share in the periods presented where their inclusion would be anti-dilutive include non-vested ordinary shares, RSUs and options to purchase ordinary shares of 27,484,412, 33,084,709 and 63,453,677 and Warrants-C of 8,303,024, Nil and Nil for the years ended December 31, 2012, 2013 and 2014 on a weighted average basis, respectively. For the years ended December 31, 2012, 2013 and 2014, the assumed conversion of the Series C Preferred Shares was anti-dilutive and excluded from the calculation of diluted net loss per share.