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TAXATION (Tables)

12 Months Ended

Dec. 31, 2013

TAXATION

Composition of income tax expense

		2011		2012		2013
		RMB		RMB		RMB
Current income tax expense		265,574,760		317,283,820		329,612,294
Deferred tax benefit		(3,388,535	)	(22,757,864	)	(35,871,972	)
Income tax expense		262,186,225		294,525,956		293,740,322

Reconciliation of the differences between statutory tax rate and the effective tax rate

		2011		2012		2013
Statutory CIT rate		25	%	25	%	25	%
Tax differential from statutory rate applicable to Subsidiaries in the PRC		(10	)%	(17	)%	(15	)%
Non-deductible expenses incurred		6	%	13	%	16	%
Withholding tax		—		10	%	—
Others		(1	)%	0	%	0	%
Effective CIT rate		20	%	31	%	26	%

Significant components of deferred tax assets and liabilities

		2012		2013
		RMB		RMB
Deferred tax assets:
Loss carry forward		42,205,411		86,735,795
Accrued liability for customer reward related programs		32,209,006		60,078,932
Accrued staff salary		22,215,827		34,842,016
Deferred tax liabilities		(390,000	)	(390,000	)
Others		3,452,556		2,448,552
Less: Valuation allowance of deferred tax assets		(37,852,274	)	(86,735,795	)
Total deferred tax assets		61,840,526		96,979,500
Deferred tax liabilities, non-current:
Recognition of intangible assets		(53,309,153	)	(63,197,155	)
Net deferred tax assets		8,531,373		33,782,345

Schedule of movement of valuation allowances

		2011		2012		2013
		RMB		RMB		RMB
Balance at beginning of year		12,733,226		14,785,786		37,852,274
Current year additions		2,879,759		27,991,746		48,883,521
Current year disposal due to divestitures		(827,199	)	(4,925,258	)	—
Balance at end of year		14,785,786		37,852,274		86,735,795

Effect of preferential tax on China operations

		2011		2012		2013
		RMB		RMB		RMB
Tax holiday effect		115,750,217		119,971,884		146,321,156
Basic net income per ADS effect		0.80		0.88		1.11
Diluted net income per ADS effect		0.76		0.83		0.96

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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