XML 51 R32.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Condensed Financial Information of the Company | 12 Months Ended
--- | ---
Dec. 31, 2017
Condensed Financial Information of the Company |
25. | CONDENSED FINANCIAL INFORMATION OF THE COMPANY
Balance Sheets
|  | As of December 31, |
|  | 2016 |  |  | 2017 |
|  | RMB |  |  | RMB |  |  | US$ |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 74,488 |  |  |  | 373,484 |  |  |  | 57,403 |
Restricted cash |  |  | 69,370 |  |  |  | 65,342 |  |  |  | 10,043 |
Short-term investments |  |  | 316 |  |  |  | 196,026 |  |  |  | 30,129 |
Prepayments and other current assets |  |  | 33,564 |  |  |  | 97,120 |  |  |  | 14,927 |
Due from related parties |  |  | 2,619,793 |  |  |  | 2,131,927 |  |  |  | 327,671 |
Total current assets |  |  | 2,797,531 |  |  |  | 2,863,899 |  |  |  | 440,173 |
Non-current assets |  |  |  |  |  |  |  |  |  |  |  |
Intangible assets, net |  |  | 9,846 |  |  |  | 2,587 |  |  |  | 398 |
Goodwill |  |  | 63,460 |  |  |  | 59,775 |  |  |  | 9,187 |
Investment in equity investees |  |  | 5,814 |  |  |  | 5,317 |  |  |  | 817 |
Other long-term investment |  |  | — |  |  |  | 326,710 |  |  |  | 50,214 |
Investment in subsidiaries |  |  | 864,120 |  |  |  | 2,295,956 |  |  |  | 352,882 |
Total non-current assets |  |  | 943,240 |  |  |  | 2,690,345 |  |  |  | 413,498 |
Total assets |  |  | 3,740,771 |  |  |  | 5,554,244 |  |  |  | 853,671 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Bank loans |  |  | 346,850 |  |  |  | 326,710 |  |  |  | 50,214 |
Accounts payable |  |  | 32 |  |  |  | — |  |  |  | — |
Accrued expenses and other current liabilities |  |  | 24,101 |  |  |  | 11,709 |  |  |  | 1,800 |
Due to related parties |  |  | 356,898 |  |  |  | 919,431 |  |  |  | 141,314 |
Income tax payable |  |  | 344 |  |  |  | 2,772 |  |  |  | 426 |
Total current liabilities |  |  | 728,225 |  |  |  | 1,260,622 |  |  |  | 193,754 |
Non-current liabilities |
Other non-current liabilities |  |  | 194 |  |  |  | 261 |  |  |  | 39 |
Total non-current liabilities |  |  | 194 |  |  |  | 261 |  |  |  | 39 |
Total liabilities |  |  | 728,419 |  |  |  | 1,260,883 |  |  |  | 193,793 |
Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Class A ordinary shares (par value of US$0.000025 per share; 7,600,000,000 shares authorized; 410,608,263 and 415,250,897 shares issued as of December 31, 2016 and 2017, respectively; 380,922,773 and 409,345,857 shares outstanding as of December 31, 2016 and 2017, respectively) |  |  | 65 |  |  |  | 65 |  |  |  | 10 |
Class B ordinary shares (par value of US$0.000025 per share; 1,400,000,000 shares authorized; 1,015,128,452 and 1,006,398,742 shares issued as of December 31, 2016 and 2017, respectively; 1,003,326,973 and 992,705,325 shares outstanding as of December 31, 2016 and 2017, respectively) |  |  | 165 |  |  |  | 164 |  |  |  | 25 |
Treasury stock (25,368,080 and nil shares as of December 31, 2016 and 2017, respectively) |  |  | (178,991 | ) |  |  | — |  |  |  | — |
Additional paid-in capital |  |  | 2,725,675 |  |  |  | 2,644,043 |  |  |  | 406,382 |
Retained earnings |  |  | 237,293 |  |  |  | 1,564,883 |  |  |  | 240,518 |
Accumulated other comprehensive income |  |  | 228,145 |  |  |  | 84,206 |  |  |  | 12,943 |
Total shareholders’ equity |  |  | 3,012,352 |  |  |  | 4,293,361 |  |  |  | 659,878 |
Total liabilities and shareholders’ equity |  |  | 3,740,771 |  |  |  | 5,554,244 |  |  |  | 853,671 |
Statements of Comprehensive Income
|  | Years ended December 31, |
|  | 2015 |  |  | 2016 |  |  | 2017 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Revenues |  |  | 196,640 |  |  |  | 105,497 |  |  |  | 52,053 |  |  |  | 8,000 |
Cost of revenues |  |  | (20,531 | ) |  |  | (15,993 | ) |  |  | (6,919 | ) |  |  | (1,063 | )
Gross profit |  |  | 176,109 |  |  |  | 89,504 |  |  |  | 45,134 |  |  |  | 6,937 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  | (74,426 | ) |  |  | (61,389 | ) |  |  | (11,370 | ) |  |  | (1,748 | )
Selling and marketing |  |  | (107 | ) |  |  | (347 | ) |  |  | (84 | ) |  |  | (13 | )
General and administrative |  |  | (31,279 | ) |  |  | (33,153 | ) |  |  | (18,931 | ) |  |  | (2,910 | )
Total operating expenses |  |  | (105,812 | ) |  |  | (94,889 | ) |  |  | (30,385 | ) |  |  | (4,671 | )
Equity in profit (loss) of subsidiaries |  |  | 133,246 |  |  |  | (94,219 | ) |  |  | 1,346,556 |  |  |  | 206,962 |
Interest income (expense), net |  |  | 7,169 |  |  |  | (3,213 | ) |  |  | (6,525 | ) |  |  | (1,003 | )
Losses from equity method investments |  |  | (42 | ) |  |  | (352 | ) |  |  | (159 | ) |  |  | (24 | )
Impairment of investments |  |  | (25,891 | ) |  |  | — |  |  |  | — |  |  |  | — |
Settlement and changes in fair value of contingent considerations |  |  | (707 | ) |  |  | (240 | ) |  |  | — |  |  |  | — |
Foreign exchange gain (loss), net |  |  | 389 |  |  |  | 4,385 |  |  |  | (3,877 | ) |  |  | (596 | )
Other income, net |  |  | 1,620 |  |  |  | 25,211 |  |  |  | — |  |  |  | — |
Income (Loss) before income taxes |  |  | 186,081 |  |  |  | (73,813 | ) |  |  | 1,350,744 |  |  |  | 207,605 |
Income tax expenses |  |  | (9,734 | ) |  |  | (6,712 | ) |  |  | (2,550 | ) |  |  | (392 | )
Net income (loss) |  |  | 176,347 |  |  |  | (80,525 | ) |  |  | 1,348,194 |  |  |  | 207,213 |
Other comprehensive income (loss), net of tax of nil |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) on available-for-sale securities, net |  |  | 2,915 |  |  |  | (20,425 | ) |  |  | (433 | ) |  |  | (67 | )
Foreign currency translation adjustments |  |  | 114,000 |  |  |  | 129,454 |  |  |  | (143,506 | ) |  |  | (22,056 | )
Other comprehensive (loss) income |  |  | 116,915 |  |  |  | 109,029 |  |  |  | (143,939 | ) |  |  | (22,123 | )
Total comprehensive income |  |  | 293,262 |  |  |  | 28,504 |  |  |  | 1,204,255 |  |  |  | 185,090 |
Statements of Cash Flows
|  | Years ended December 31, |
|  | 2015 |  |  | 2016 |  |  | 2017 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Net cash provided by (used in) operating activities |  |  | 118,281 |  |  |  | (114,699 | ) |  |  | 40,685 |  |  |  | 6,253 |
Net cash (used in) provided by investing activities |  |  | (202,844 | ) |  |  | (437,878 | ) |  |  | 265,767 |  |  |  | 40,848 |
Net cash provided by financing activities |  |  | 102,366 |  |  |  | 11,546 |  |  |  | 23,929 |  |  |  | 3,678 |
Effect of exchange rate changes on cash and cash equivalents |  |  | 31,181 |  |  |  | 32,145 |  |  |  | (31,385 | ) |  |  | (4,824 | )
Net increase (decrease) in cash and cash equivalents |  |  | 48,984 |  |  |  | (508,886 | ) |  |  | 298,996 |  |  |  | 45,955 |
Cash and cash equivalents at beginning of the year |  |  | 534,390 |  |  |  | 583,374 |  |  |  | 74,488 |  |  |  | 11,448 |
Cash and cash equivalents at end of the year |  |  | 583,374 |  |  |  | 74,488 |  |  |  | 373,484 |  |  |  | 57,403 |
(a) Basis of presentation For the Company only condensed financial information, the Company records its investment in its subsidiaries, VIEs and subsidiary of 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 (loss) of subsidiaries” on the condensed statements of comprehensive income (loss). The subsidiaries, VIEs and subsidiary of VIEs did not pay any dividends to the Company for any of the years presented. The Company only condensed financial information 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.

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration