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Related party transactions
 12 Months Ended
Dec. 31, 2015
Related party transactions [Abstract]  
Related party transactions
24. Related party transactions

 

The table below sets forth the major related parties and their relationships with the Group:

 

Major related parties   Relationship with the Group
     
Guangzhou Shanghang Information Technology Co., Ltd. (“Shanghang”)   Significant influence exercised by the Chairman
Bigo Inc ("Bigo") (1)   Significant influence exercised by the CEO
Guangzhou Kuyou Information Technology Co., Ltd.(“Guangzhou Kuyou”) (2)   Equity investment
Zhuhai Daren Computer Technology Co., Ltd. (“Zhuhai Daren”) (3)   Equity investment
Shenzhen Qingdou Network Technology Co., Ltd.(“Shenzhen Qingdou”)   Cost investment with significant influence
Beijing Xianqu Network Technology Co., Ltd.(“Beijing Xianqu”)   Cost investment with significant influence
Shanghai YaoYu Culture Media Co., Ltd.(“Shanghai Yaoyu”)   Cost investment with significant influence

 

(1) In October 2014, the Group entered into an agreement with its CEO to inject Weihui into Bigo, a company set up and which was then controlled by the CEO. In May 2015, the Group made a further capital injection of RMB122,249 to Bigo and owned an aggregate of 350 Million shares of Bigo, representing approximately 25% of Bigo's total outstanding shares as of December 31, 2015.

 

(2) In March 2014, the Group made a further capital injection of RMB15,000 to Guangzhou Kuyou and owned 20% of the equity interests in the company.

 

(3) In October 2015, the Group made a further capital injection of RMB500 to Zhuhai Daren and owned 40% of the equity interests in the company.

     

During the years ended December 31, 2013, 2014 and 2015, significant related party transactions were as follows: 

 

    For the year ended December 31,  
    2013     2014     2015  
    RMB     RMB     RMB  
                   
Repayment from related parties     1,000       1,500       316,181  
Online games revenue shared from related parties     29,528       65,247       163,912  
Interest-free loan to related parties     -       1,500       159,000  
Payment on behalf of related parties     -       61,000       95,311  
Bandwidth service provided by Shanghang     21,272       42,470       74,661  
Sales of equipment to Bigo     -       -       12,058  
Purchase of operating rights for game broadcasting from Shanghai Yaoyu
      -        -        11,486  
Purchase of operating rights for licensed games from related parties
      -        6,836        10,022  
Others     7,164       1,563       9,095  

  

As of December 31, 2014 and 2015, the amounts due from/to related parties were as follows:

 

December 31,
2014 2015  
RMB RMB  
 
Amounts due from related parties      
       
Other receivables from Bigo     61,000
    -  
Others     73
    5,297  
 
Total     61,073       5,297  
       
       
Amounts due to related parties                
Other payables to Shanghang       4,342       10,167  
Accounts payable to Guangzhou Kuyou     24,454       9,017  
Accounts payable to Zhuhai Daren     2,020       4,127  
Others     76       1,606  
       
       
Total     30,892
    24,917  

The other receivables/payables from/to related parties are unsecured, interest-free and payable on demand.