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CONDENSED FINANCIAL INFORMATION OF THE COMPANY | 12 Months Ended
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Dec. 31, 2015
CONDENSED FINANCIAL INFORMATION OF THE COMPANY |
CONDENSED FINANCIAL INFORMATION OF THE COMPANY | 24. CONDENSED FINANCIAL INFORMATION OF THE COMPANY Balance Sheets
|  | As of December 31, |
|  | 2014 |  | 2015 |
|  | RMB |  | RMB |  | US$ |
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents |  | 534,390 |  | 583,374 |  | 90,057 |
Restricted cash |  | — |  | 25,974 |  | 4,010 |
Short-term investments |  | 428,330 |  | 6,494 |  | 1,003 |
Prepayments and other current assets |  | 2,325 |  | 15,162 |  | 2,341 |
Due from related parities |  | 698,888 |  | 1,411,418 |  | 217,885 |
Total current assets |  | 1,663,933 |  | 2,042,422 |  | 315,296 |
Non-current assets |  |  |  |  |  |  |
Intangible assets, net |  | 36,062 |  | 25,022 |  | 3,863 |
Goodwill |  | 39,578 |  | 59,404 |  | 9,170 |
Investment in equity investees |  | — |  | 5,802 |  | 896 |
Other long-term investment |  | 55,740 |  | 46,373 |  | 7,158 |
Investment in subsidiaries |  | 436,286 |  | 949,494 |  | 146,577 |
Total non-current assets |  | 567,666 |  | 1,086,095 |  | 167,664 |
Total assets |  | 2,231,599 |  | 3,128,517 |  | 482,960 |
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Bank loans |  | — |  | 129,872 |  | 20,049 |
Accrued expenses and other current liabilities |  | 6,919 |  | 17,734 |  | 2,738 |
Redemption right liabilities |  | 520 |  | 474 |  | 73 |
Due to related parties |  | 12,272 |  | 57,933 |  | 8,943 |
Income tax payable |  | 1,188 |  | 10,351 |  | 1,598 |
Total current liabilities |  | 20,899 |  | 216,364 |  | 33,401 |
Non-current liabilities |  |  |  |  |  |  |
Other non-current liabilities |  | 4,362 |  | 214 |  | 34 |
Total non-current liabilities |  | 4,362 |  | 214 |  | 34 |
Total liabilities |  | 25,261 |  | 216,578 |  | 33,435 |
Shareholders’ equity |  |  |  |  |  |  |
Class A ordinary shares (par value of US$0.000025 per share; 7,600,000,000 shares authorized as of December 31, 2014 and 2015, respectively; 288,988,560 and 365,961,759 shares issued as of December 31, 2014 and 2015, respectively; 260,045,912 and 350,398,737 shares outstanding as of December 31, 2014 and 2015, respectively) |  | 42 |  | 56 |  | 9 |
Class B ordinary shares (par value of US$0.000025 per share; 1,400,000,000 shares authorized as of December 31, 2014 and 2015, respectively; 1,127,614,152 and 1,058,514,152 shares issued as of December 31, 2014 and 2015, respectively; 1,095,456,652 and 1,035,037,339 shares outstanding as of December 31, 2014 and 2015, respectively) |  | 180 |  | 170 |  | 26 |
Additional paid-in capital |  | 2,059,983 |  | 2,468,562 |  | 381,080 |
Retained earnings |  | 142,760 |  | 319,356 |  | 49,299 |
Accumulated other comprehensive income |  | 3,373 |  | 123,795 |  | 19,111 |
Total shareholders’ equity |  | 2,206,338 |  | 2,911,939 |  | 449,525 |
Total liabilities, mezzanine equity and shareholders’ equity |  | 2,231,599 |  | 3,128,517 |  | 482,960 |
Statements of Comprehensive Income
|  | Years ended December 31, |
|  | 2013 |  | 2014 |  | 2015 |
|  | RMB |  | RMB |  | RMB |  | US$ |
Revenues |  | 2,070 |  | 22,002 |  | 196,640 |  | 30,356 |
Cost of revenues |  | (1,950 | ) | (17,752 | ) | (20,531 | ) | (3,169 | )
Gross profit |  | 120 |  | 4,250 |  | 176,109 |  | 27,187 |
Operating expenses |  |  |  |  |  |  |  |  |
Research and development |  | (12,491 | ) | (44,011 | ) | (74,426 | ) | (11,489 | )
Selling and marketing |  | — |  | (31 | ) | (107 | ) | (17 | )
General and administrative |  | (15,146 | ) | (13,103 | ) | (31,279 | ) | (4,829 | )
Total operating expenses |  | (27,637 | ) | (57,145 | ) | (105,812 | ) | (16,335 | )
Equity in profit of subsidiaries |  | 76,031 |  | 99,213 |  | 133,495 |  | 20,608 |
Interest income |  | 2,494 |  | 20,908 |  | 7,169 |  | 1,107 |
Changes in fair value of redemption right and put options granted |  | 11,146 |  | 3,576 |  | — |  | — |
Losses from equity method investments |  | — |  | — |  | (42 | ) | (6 | )
Impairment of investments |  | — |  | — |  | (25,891 | ) | (3,997 | )
Settlement and changes in fair value of contingent considerations |  | (973 | ) | (1,755 | ) | (707 | ) | (109 | )
Foreign exchange gain (loss), net |  | 946 |  | (17 | ) | 389 |  | 60 |
Other income, net |  | — |  | — |  | 1,620 |  | 250 |
Income before income taxes |  | 62,127 |  | 69,030 |  | 186,330 |  | 28,765 |
Income tax expenses |  | (109 | ) | (1,089 | ) | (9,734 | ) | (1,503 | )
Net income |  | 62,018 |  | 67,941 |  | 176,596 |  | 27,262 |
Other comprehensive income (Loss), net of tax of nil |  |  |  |  |  |  |  |  |
Unrealized gains on available-for-sale securities, net |  | — |  | — |  | 2,945 |  | 455 |
Foreign currency translation adjustments |  | (8,807 | ) | (6,918 | ) | 117,477 |  | 18,135 |
Other comprehensive income, net of tax nil: |  | (8,807 | ) | (6,918 | ) | 120,422 |  | 18,590 |
Total comprehensive income |  | 53,211 |  | 61,023 |  | 297,018 |  | 45,852 |
Statements of Cash Flows
|  | Years ended December 31, |
|  | 2013 |  | 2014 |  | 2015 |
|  | RMB |  | RMB |  | RMB |  | US$ |
Net cash provided by (used in) operating activities |  | 1,335 |  | (629,518 | ) | 118,281 |  | 18,259 |
Net cash used in investing activities |  | (57,070 | ) | (516,106 | ) | (202,844 | ) | (31,314 | )
Net cash provided by financing activities |  | 321,965 |  | 1,404,056 |  | 102,366 |  | 15,803 |
Effect of exchange rate changes on cash |  | (5,504 | ) | (6,626 | ) | 31,181 |  | 4,813 |
Net increase in cash and cash equivalents |  | 260,726 |  | 251,806 |  | 48,984 |  | 7,561 |
Cash and cash equivalents at beginning of the year |  | 21,858 |  | 282,584 |  | 534,390 |  | 82,496 |
Cash and cash equivalents at end of the year |  | 282,584 |  | 534,390 |  | 583,374 |  | 90,057 |
(a) Basis of presentation For the Company only condensed financial information, the Company records its investment in its subsidiaries and VIEs under the equity method of accounting. Such investment is presented on the condensed balance sheets as “Investment in subsidiaries” and share of their income as “Equity in profit of subsidiaries” on the condensed statements of comprehensive income. The subsidiaries and VIEs did not pay any dividends to the Company for any of the years presented. The Company only condensed financial statements should be read in conjunction with the Group’s consolidated financial statements. (b) Commitments The Company does not have any significant commitments or long-term obligations as of any of the periods presented.

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