12.

LONG-TERM INVESTMENTS

The Company’s long-term investments comprise of the following:


	December 31,
	2016		2017
	RMB		RMB		US$
Cost method investments		56,087		57,567		8,848
Equity method investments		234,863		450,822		69,290
Available-for-sale investments		7,921		2,537		390

		298,871		510,926		78,528

Cost method investments

The Company disposed one cost method investment amounted to RMB6,109 in 2016. The investment income comprised of disposal gain of RMB5,160 and dividend income of RMB1,821 (US$280) was recognized in other income in the consolidated statements of operations for the years ended December 31, 2016 and 2017, respectively.

The Company recorded an impairment loss of long-term investment amounting nil, nil and RMB20,258 (US$3,114) for the year ended December 31, 2015, 2016 and 2017, respectively.

Investment in equity investees


	As of December 31, 2015						Increase during the year ended December 31, 2016					As of December 31, 2016
	Cost of investments		Share equity gain (loss)		Investments in equity investee		Cost of investments		Share equity gain (loss)			Cost of investments		Share equity gain (loss)			Investments in equity investee
	RMB		RMB		RMB		RMB		RMB			RMB		RMB			RMB
Yizhuang Fund		101,000		49,211		150,211		—		35,937			101,000		85,148			186,148
Unis Tech		—		—		—		49,000		(285	)		49,000		(285	)		48,715

		101,000		49,211		150,211		49,000		35,652			150,000		84,863			234,863


	As of December 31, 2016							Increase/(decrease) during the year ended December 31, 2017					As of December 31, 2017
	Cost of investments		Share equity gain (loss)			Investments in equity investee		Cost of investments		Share equity gain (loss)			Cost of investments		Share equity gain (loss)			Investments in equity investee		Investments in equity investee
	RMB		RMB			RMB		RMB		RMB			RMB		RMB			RMB		US$
Yizhuang Fund		101,000		85,148			186,148		—		90,888			101,000		176,036			277,036		42,580
Unis Tech		49,000		(285	)		48,715		—		(12,676	)		49,000		(12,961	)		36,039		5,539
Shihua DC Holdings		—		—			—		147,176		(9,429	)		147,176		(9,429	)		137,747		21,171
WiFire Entities		—		—			—		15,000		(15,000	)		15,000		(15,000	)		—		—

		150,000		84,863			234,863		162,176		53,783			312,176		138,646			450,822		69,290

In April 2012, the Company through its subsidiary, 21Vianet Beijing, entered into an agreement to invest in the Yizhuang Venture Investment Fund (“Yizhuang Fund”) as a limited partner with an amount of RMB50,500. In December 2013, the Company made the second tranche of investment of another amount of RMB50,500 in the Yizhuang Fund, and held 27.694% of the investee as of December 31, 2015, 2016 and 2017. Given the Company holds more than three percent interest in the Yizhuang Fund as a limited partner, the investment is accounted for under the equity method as prescribed in ASC 323-10, Investments—Equity Method.

In June 2016, the Company through its subsidiary, 21Vianet Beijing, and a related company jointly set up Unisplendour-Vianet Technology Inc. (“Unis Tech”). The Company injected capital of RMB49,000 (US$7,057) to acquire 49% of equity interest in Unis Tech with the ability to exercise significant influence.

In September 2017, after the disposal of 66.67% equity interest in the WiFire Entities, the Company held the remaining 33.33% equity interest in the WiFire Entities, which is accounted for equity method investment at fair value of RMB6 yuan at the disposal date. In December 2017, the Company injected capital of RMB15,000 (US$2,305) in the WiFire Entities pursuant to the sale and purchase agreement. As of December 31, 2017, the equity method investment balance is reduced to $0 after the further pickup of loss in the WiFire Entities.

Available-for-sale investments

Available-for-sale investments consist of investments in convertible notes with conversion option to preferred shares that are not readily convertible to cash and therefore the bifurcation of embedded derivative is not required as the conversion option did not qualify as derivatives in accordance with ASC 815, Derivatives and Hedging.