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CONDENSED FINANCIAL INFORMATION OF THE COMPANY (Tables) | 12 Months Ended
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Dec. 31, 2015
CONDENSED FINANCIAL INFORMATION OF THE COMPANY |
Condensed Balance Sheet |
|  | 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$0.000025 per share; 1,400,000,000 shares authorized as of December 31, 2014 and 2015, respectively; 1,127,614,152 and 1,058,514,152 shares issued as of December 31, 2014 and 2015, respectively; 1,095,456,652 and 1,035,037,339 shares outstanding as of December 31, 2014 and 2015, respectively) |  | 180 |  | 170 |  | 26 |
Additional paid-in capital |  | 2,059,983 |  | 2,468,562 |  | 381,080 |
Retained earnings |  | 142,760 |  | 319,356 |  | 49,299 |
Accumulated other comprehensive income |  | 3,373 |  | 123,795 |  | 19,111 |
Total shareholders’ equity |  | 2,206,338 |  | 2,911,939 |  | 449,525 |
Total liabilities, mezzanine equity and shareholders’ equity |  | 2,231,599 |  | 3,128,517 |  | 482,960 |
Condensed Comprehensive Income |
|  | Years ended December 31, |
|  | 2013 |  | 2014 |  | 2015 |
|  | RMB |  | RMB |  | RMB |  | US$ |
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 |
Condensed Cash Flow Statement |
|  | 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 |

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