XML 55 R36.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Fair Value Measurements | 12 Months Ended
--- | ---
Dec. 31, 2017
Fair Value Disclosures [Abstract] |
Fair Value Measurements |
29. | FAIR VALUE MEASUREMENTS
The Company applies ASC 820, Fair Value Measurements and Disclosures. ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 requires disclosures to be provided on fair value measurement. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Include other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach; and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Cash equivalents, fixed rate time deposits and bonds payable are classified within Level 1 because they are valued by using quoted market prices. The contingent considerations for the acquired businesses, the share-settled bonuses, liability classified RSU and long term investments are classified within Level 3. The contingent considerations are based on the achievement of certain financial targets in accordance with the sales and purchase agreements for the various periods, as well as other non-financial measures. The fair value of the share-settled bonuses was estimated using the performance bonuses that the Company estimates to be settled in shares and the observable market prices of the underlying ADSs of the Company. The fair value of liability classified RSU was estimated using the share price and exchange rate that the Company estimates to be settled in shares Assets and liabilities measured at fair value on a recurring basis are summarized below:
|  | Fair value measurement using: |  |  |  |
|  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Unobservable inputs (Level 3) |  |  | Fair value at December 31, 2016 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate time deposits |  |  | 588,589 |  |  |  | — |  |  |  | — |  |  |  | 588,589 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate time deposits |  |  | 277,946 |  |  |  | — |  |  |  | — |  |  |  | 277,946 |
Long-term investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Available-for-sale investments |  |  | — |  |  |  | — |  |  |  | 7,921 |  |  |  | 7,921 |
Assets |  |  | 866,535 |  |  |  | — |  |  |  | 7,921 |  |  |  | 874,456 |
Long-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bonds payable |  |  | 418,497 |  |  |  | — |  |  |  | — |  |  |  | 418,497 |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Share-settled bonuses |  |  | — |  |  |  | — |  |  |  | 37,526 |  |  |  | 37,526 |
- Liability classified RSU |  |  | — |  |  |  | — |  |  |  | 34,612 |  |  |  | 34,612 |
Amounts due to related parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Contingent consideration payable in relation to the acquisition of subsidiaries |  |  | — |  |  |  | — |  |  |  | 65,797 |  |  |  | 65,797 |
Liabilities |  |  | 418,497 |  |  |  | — |  |  |  | 137,935 |  |  |  | 556,432 |
|  | Fair value measurement using: |  |  |  |  |  |  |
|  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Unobservable inputs (Level 3) |  |  | Fair value at December 31, 2017 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate time deposits |  |  | 874,786 |  |  |  | — |  |  |  | — |  |  |  | 874,786 |  |  |  | 134,452 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate time deposits |  |  | 548,890 |  |  |  | — |  |  |  | — |  |  |  | 548,890 |  |  |  | 84,363 |
Long-term investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Available-for-sale investments |  |  | — |  |  |  | — |  |  |  | 2,537 |  |  |  | 2,537 |  |  |  | 390 |
Assets |  |  | 1,423,676 |  |  |  | — |  |  |  | 2,537 |  |  |  | 1,426,213 |  |  |  | 219,205 |
Long-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Bonds payable |  |  | 1,980,529 |  |  |  | — |  |  |  | — |  |  |  | 1,980,529 |  |  |  | 304,402 |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Liability classified RSU |  |  | — |  |  |  | — |  |  |  | 11,865 |  |  |  | 11,865 |  |  |  | 1,824 |
Amounts due to related parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Contingent consideration payable in relation to the acquisition of subsidiaries |  |  | — |  |  |  | — |  |  |  | 36,734 |  |  |  | 36,734 |  |  |  | 5,646 |
Liabilities |  |  | 1,980,529 |  |  |  | — |  |  |  | 48,599 |  |  |  | 2,029,128 |  |  |  | 311,872 |
The following table presents a reconciliation of all liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3):
|  | Contingent consideration payables |
|  | RMB |
Fair value at January 1, 2016 |  |  | 372,256 |
Changes in the fair value |  |  | (93,307 | )
Payment of cash consideration |  |  | (2,617 | )
Reclassification to equity upon resolution of contingencies |  |  | (210,535 | )
Transfers in and/or out of Level 3 |  |  | — |
Fair value at December 31, 2016 |  |  | 65,797 |
Changes in the fair value |  |  | 937 |
Settlement of contingent consideration payable |  |  | (30,000 | )
Transfers in and/or out of Level 3 |  |  | — |
Fair value at December 31, 2017 |  |  | 36,734 |
Fair value at December 31, 2017 (US$) |  |  | 5,646 |
|  | Share-settled bonuses |
|  | RMB |
Fair value at January 1, 2016 |  |  | 41,352 |
Increase in bonuses settled in shares during 2016 |  |  | 37,678 |
Changes in the fair value |  |  | (5,319 | )
Reclassification to equity |  |  | (15,890 | )
Bonuses settled in cash during 2016 |  |  | (20,295 | )
Transfers in and/or out of Level 3 |  |  | — |
Fair value at December 31, 2016 |  |  | 37,526 |
Changes in the fair value |  |  | (810 | )
Reclassification to equity |  |  | (22,752 | )
Reversal of share-settled bonuses |  |  | (13,964 | )
Transfers in and/or out of Level 3 |  |  | — |
Fair value at December 31, 2017 |  |  | — |
Fair value at December 31, 2017 (US$) |  |  | — |
|  | Liability classified RSU |
|  | RMB |
Fair value at January 1, 2017 |  |  | 34,612 |
Increase in liability classified RSU |  |  | 61,903 |
Reclassification to equity |  |  | (84,650 | )
Transfers in and/or out of Level 3 |  |  | — |
Fair value at December 31, 2017 |  |  | 11,865 |
Fair value at December 31, 2017 (US$) |  |  | 1,824 |

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration