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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2016
VIE arrangements |
Schedule of the name of foreign owned subsidiaries and VIE companies |
Name of Foreign Owned Subsidiaries |  | Name of VIE Companies
Heng Ye |  | Heng Cheng
Heng Yu Da |  | Yi Ren Wealth Management
Schedule of movement of liability from quality assurance program |
As of January 1, 2016 |  | 546,332 |
Provision at the inception of new loans (Note) |  | 1,598,238 |
Provision for fraud incident |  | 81,263 |
Net payment |  | (754,833 | )
As of December 31, 2016 |  | 1,471,000 |
Note:Amount represents cash received on non-contingent fees allocated to the stand-ready liability for loans generated during the year.
Schedule of estimated useful lives |
Computer and transmission equipment |  | 3 years
Furniture and office equipment |  | 5 years
Software |  | 5 years
Leasehold improvements |  | Over the shorter of the lease term or expected useful lives
Consolidated VIEs |
VIE arrangements |
Schedule of amounts and balances included in the accompanying consolidated financial statements after elimination of intercompany transactions and balances |
|  | As of December 31, |
|  | 2015 |  | 2016 |  | 2016 |
|  | RMB |  | RMB |  | USD |
Assets |  |  |  |  |  |  |
Cash and cash equivalents |  | 144,535 |  | 433,510 |  | 62,438 |
Restricted cash |  | 453,230 |  | 1,114,805 |  | 160,565 |
Accounts receivable |  | 82,993 |  | 23,838 |  | 3,433 |
Prepaid expenses and other assets |  | 234,204 |  | 398,675 |  | 57,421 |
Amounts due from related parties |  | 86,889 |  | 1,678 |  | 242 |
Held-to-maturity investments |  | 30,000 |  | — |  | — |
Available-for-sale investments |  | — |  | 498,000 |  | 71,727 |
Property, equipment and software, net |  | 4,392 |  | 4,427 |  | 638 |
Deferred tax assets |  | 175,862 |  | 436,402 |  | 62,855 |
Total assets |  | 1,212,105 |  | 2,911,335 |  | 419,319 |
Liabilities |  |  |  |  |  |  |
Accounts payable |  | 4,499 |  | 13,544 |  | 1,951 |
Amounts due to related parties |  | 3,426 |  | 6,907 |  | 995 |
Liabilities from quality assurance program |  | 546,332 |  | 1,471,000 |  | 211,868 |
Deferred revenue |  | 117,484 |  | 164,318 |  | 23,667 |
Accrued expenses and other liabilities |  | 244,438 |  | 507,890 |  | 73,151 |
Total liabilities |  | 916,179 |  | 2,163,659 |  | 311,632 |
|  | For the years ended December 31, |
|  | 2014 |  | 2015 |  | 2016 |  | 2016 |
|  | RMB |  | RMB |  | RMB |  | USD |
Net revenue |  | 196,525 |  | 1,316,761 |  | 3,237,768 |  | 466,336 |
Net (loss)/income |  | (27,708 | ) | 465,679 |  | 1,445,081 |  | 208,135 |
|  | For the years ended December 31, |
|  | 2014 |  | 2015 |  | 2016 |  | 2016 |
|  | RMB |  | RMB |  | RMB |  | USD |
Net cash (used in)/provided by operating activities |  | (227,041 | ) | 812,496 |  | 2,415,204 |  | 347,862 |
Net cash used in investing activities |  | (3,577 | ) | (35,486 | ) | (471,321 | ) | (67,884 | )
Consolidated ABFE |
VIE arrangements |
Schedule of amounts and balances included in the accompanying consolidated financial statements after elimination of intercompany transactions and balances |
|  | As of December 31, |
|  | 2015 |  | 2016 |  | 2016 |
|  | RMB |  | RMB |  | USD |
Assets |  |  |  |  |  |  |
Restricted cash |  | 30,735 |  | 103,481 |  | 14,904 |
Prepaid expenses and other assets |  | 1,376 |  | 1,056 |  | 152 |
Loans at fair value |  | 221,268 |  | 371,033 |  | 53,440 |
Held-to-maturity investments |  | — |  | 4,896 |  | 705 |
Total assets |  | 253,379 |  | 480,466 |  | 69,201 |
Liabilities |  |  |  |  |  |  |
Accounts payable |  | — |  | 147 |  | 21 |
Payable to investors at fair value |  | 252,907 |  | 418,686 |  | 60,303 |
Accrued expenses and other liabilities |  | 713 |  | 2,895 |  | 417 |
Total liabilities |  | 253,620 |  | 421,728 |  | 60,741 |
|  | For the year ended December 31, |
|  | 2015 |  | 2016 |  | 2016 |
|  | RMB |  | RMB |  | USD |
Net revenue |  | — |  | — |  | — |
Net loss |  | 11,333 |  | 19,735 |  | 2,842 |
|  | For the year ended December 31, |
|  | 2015 |  | 2016 |  | 2016 |
|  | RMB |  | RMB |  | USD |
Net cash provided by operating activities |  | 17,984 |  | 6,591 |  | 949 |
Net cash used in investing activities |  | (237,009 | ) | (169,680 | ) | (24,439 | )
Net cash provided by financing activities |  | 250,000 |  | 157,121 |  | 22,630 |

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=64801991&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=64801991&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64801991&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Variable Interest Entity -URI http://asc.fasb.org/extlink&oid=6528138 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64801991&loc=SL6759159-111685 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64801991&loc=d3e5710-111685 + Details
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