Related party transactions

12 Months Ended

Dec. 31, 2014

21.

Related party transactions

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


Related Party		Relationship with the Group
Zhuhai Qianyou		Equity investment of the Group
Hao Cheng		Co-founder and shareholder of the Group
Chuan Wang		Director of the Company
Shenglong Zou		Co-founder and shareholder of the Group
Beijing Millet technology Co., LTD (“Beijing Xiaomi”)		Company owned by a shareholder of the Group
Leading Advice Holdings Limited		Company owned by a Co-founder and shareholder of the Group
Vantage Point Global Limited		Shareholder of the Company
Aiden & Lasmine Limited		Shareholder of the Company
Kingsoft Corporation Limited		Shareholder of the Company

During the years ended December 31, 2012, 2013 and 2014, significant related party transactions were as follows:


	Years ended December 31,
(In thousands)	2012		2013		2014
Game sharing costs paid and payable to Zhuhai Qianyou (note a)		1,041		1,760		402
Advance to Hao Cheng		—		85		—
Repayment from Hao Cheng		—		—		85
Technology service revenue from Beijing Xiaomi		—		—		303
Advertisement revenue from Beijing Xiaomi		—		—		871
Advance to Shenglong Zou		—		—		10
Advance to Chuan Wang		—		—		7

note a – The Company obtained an exclusive game operation right from Zhuhai Qianyou, which is specialized in developing online games. According to the agreement, the Company will share revenues derived by the licensed games with Zhuhai Qianyou.

In April 2014, the company issued 14,195,412 common shares to Leading Advice, a company owned by the Group’s chairman and chief executive officer. The issuance of common shares was to facilitate the administration of the 2014 plan.

As mentioned in note 3, the Group acquired assets relating to a personal cloud storage business from certain PRC subsidiaries of Kingsoft Corporation Limited for an aggregate cash consideration of USD33 million. Kingsoft Corporation Limited, through its wholly owned subsidiary King Venture Holdings Limited, owned approximately 11.4% of our outstanding shares as of the closing of the transaction.

As of December 31, 2012, 2013 and 2014, the amounts due to / from related parties were as follows:


(In thousands)	December 31, 2012		December 31, 2013		December 31, 2014
Amounts due to related parties
Accounts payable to Zhuhai Qianyou		313		225		84
Long-term payable to Aiden & Lasmine Limited (note 17)		—		—		1,125
Long-term payable to Vantage Point Global Limited (note 17)		—		—		3,012

(In thousands)	December 31, 2012		December 31, 2013		December 31, 2014
Amounts due from related parties
Accounts receivable from Beijing Xiaomi		—		—		5
Other receivable from Hao Cheng		—		85		—
Other receivable from Shenglong Zou		—		—		10
Other receivable from Chuan Wang		—		—		7

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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