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Summary of Principal Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Noah Investment and its Subsidiaries included in Consolidated Financial Statements

The following amounts of Noah Investment and its subsidiaries were included in the Group’s consolidated financial statements:

 

     As of December 31,  
     2011     2012  
     $     $  

Cash and cash equivalents

      2,666,520        13,121,222   

Restricted cash

      79,442        80,256   

Short-term investments

      —         15,150,847   

Accounts receivable, net of allowance for doubtful accounts

      104,793        187,783   

Other current assets

      838,014        2,005,541   

Amounts due from the Group’s subsidiaries

      9,062,387        —     

Deferred tax assets

      423,704        478,015   

Property and equipment, net

      846,202        1,090,055   

Investment in affiliates

      —          6,055,204   

Other non-current assets

      77,911        150,946   
  

 

 

    

 

 

  

Total assets

      14,098,973        38,319,869   
  

 

 

    

 

 

  

Accrued payroll and welfare expenses

      171,725        793,300   

Income tax payable

      (19,597 )      521,197   

Current uncertain tax position liabilities

      322,378        —     

Amounts due to the Group’s subsidiaries

      —          18,475,369   

Other current liabilities

      141,082        1,252,490   

Non-current uncertain tax position liabilities

      1,004,714        1,015,003   

Other long-term obligations

      —          28,197   
  

 

 

    

 

 

  

Total liabilities

      1,620,302        22,085,556   
  

 

 

    

 

 

  

 

     As of December 31,  
     2010     2011     2012*  
     $     $     $  

Net revenues

      4,158,482        2,417,148        7,233,911   

Operating cost and expenses

      (2,532,972 )     (4,011,731 )      (6,409,491 ) 

Other income

      269,440        159,745        200,319   

Net income (loss) attributable to Noah Shareholders

      1,387,515        (1,038,704 )      1,086,355   

Cash flows provided by (used in) operating activities **

      5,829,563        (14,752,747 )      29,624,846   

Cash flows (used in) provided by investing activities

      (836,028 )     1,672,073        (21,368,983 ) 

Cash flows provided by financing activities

      —         —         2,178,103   

 

* Tianjin Gefei’s result of operations and cash flows are included in the presentation starting from March 2012.
** Cash flows provided by financing activities in 2012 include amounts due to the Group’s subsidiaries of $18,475,369.
Third Party Product Providers Or Underlying Corporate Borrowers which Accounted for Ten Percent or More of Total Revenues

The following table summarizes product providers or underlying corporate borrowers which accounted for 10% or more of total revenues.

 

     Revenues  
     Years Ended December 31,  
     2010      2011     2012  
     $      $     $  

A

      6,485,735              *           * 

 

* Less than 10% in the stated periods.
Estimated Useful Lives of Property and Equipment

Property and equipment is stated at cost less accumulated depreciation, and is depreciated using the straight-line method over the following estimated useful lives:

 

    

Estimated Useful Lives in Years
Leasehold improvements   Shorter of the lease term or expected useful life
Furniture, fixtures, and equipment   3—5 years
Motor Vehicles   5 years
Software   2—5 years