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FINANCIAL INFORMATION OF PARENT COMPANY | 12 Months Ended
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Dec. 31, 2016
FINANCIAL INFORMATION OF PARENT COMPANY [Abstract] |
FINANCIAL INFORMATION OF PARENT COMPANY | CONDENSED BALANCE SHEETS (All amounts in thousands, except for share and per share data)
|  | As of December 31, |
|  | 2015 |  |  | 2016 |
|  |  |  |  |  |  |  | US$ |
|  | RMB |  |  | RMB |  |  | Note 3 |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 254,213 |  |  |  | 460,670 |  |  |  | 66,350 |
Prepayments and other current assets |  |  | 7,180 |  |  |  | 2,526 |  |  |  | 364 |
Amounts due from subsidiaries and VIE |  |  | 764,883 |  |  |  | 779,762 |  |  |  | 112,309 |
Total current assets |  |  | 1,026,276 |  |  |  | 1,242,958 |  |  |  | 179,023 |
Investments in subsidiaries and VIE |  |  | 218,147 |  |  |  | 325,144 |  |  |  | 46,830 |
Investments in cost method investees other than subsidiaries and VIE |  |  | 6,682 |  |  |  | 6,682 |  |  |  | 962 |
TOTAL ASSETS |  |  | 1,251,105 |  |  |  | 1,574,784 |  |  |  | 226,815 |
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  |  | 9,165 |  |  |  | 2,772 |  |  |  | 399 |
Amounts due to related parties |  |  | 7,469 |  |  |  | - |  |  |  | - |
Total current liabilities |  |  | 16,634 |  |  |  | 2,772 |  |  |  | 399 |
TOTAL LIABILITIES |  |  | 16,634 |  |  |  | 2,772 |  |  |  | 399 |
SHAREHOLDERS' EQUITY(DEFICIT) |  |  |  |  |  |  |  |  |  |  |  |
Class A ordinary shares (US$0.0001 par value; 470,000,000 shares authorized, 138,170,631 and 146,111,244 shares issued and outstanding as of December 31, 2015 and December 31, 2016, respectively) |  |  | 85 |  |  |  | 92 |  |  |  | 13 |
Class B ordinary shares (US$0.0001 par value; 30,000,000 shares authorized, 13,300,738 shares issued and outstanding as of December 31, 2015 and December 31, 2016, respectively) |  |  | 8 |  |  |  | 8 |  |  |  | 1 |
Additional paid-in capital |  |  | 1,535,665 |  |  |  | 1,761,430 |  |  |  | 253,699 |
Accumulated deficits |  |  | (320,499) |  |  |  | (233,866) |  |  |  | (33,684) |
Accumulated other comprehensive income |  |  | 19,212 |  |  |  | 44,348 |  |  |  | 6,387 |
Total shareholders' equity |  |  | 1,234,471 |  |  |  | 1,572,012 |  |  |  | 226,416 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY(DEFICIT) |  |  | 1,251,105 |  |  |  | 1,574,784 |  |  |  | 226,815 |
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (All amounts in thousands, except for share and per share data)
|  | For year ended December 31, |
|  | 2014 |  |  | 2015 |  |  | 2016 |
|  |  |  |  |  |  |  |  |  |  | US$ |
|  | RMB |  |  | RMB |  |  | RMB |  |  | Note 3 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  |  | (66) |  |  |  | (3,126) |  |  |  | (6,129) |  |  |  | (883) |
Other operating income |  |  | - |  |  |  | 1,399 |  |  |  | 2,446 |  |  |  | 352 |
Total operating expenses |  |  | (66) |  |  |  | (1,727) |  |  |  | (3,683) |  |  |  | (531) |
Loss from operations |  |  | (66) |  |  |  | (1,727) |  |  |  | (3,683) |  |  |  | (531) |
Interest income |  |  | - |  |  |  | 1,175 |  |  |  | 3,358 |  |  |  | 484 |
Exchange gain (loss) |  |  | (2,414) |  |  |  | (471) |  |  |  | 7 |  |  |  | 1 |
Equity in income (loss) of subsidiaries and VIE |  |  | (57,334) |  |  |  | 23,644 |  |  |  | 86,951 |  |  |  | 12,523 |
Net income (loss) |  |  | (59,814) |  |  |  | 22,621 |  |  |  | 86,633 |  |  |  | 12,477 |
Deemed dividend from issuance of convertible redeemable preferred shares |  |  | (16,666) |  |  |  | - |  |  |  | - |  |  |  | - |
Change in redemption value of convertible redeemable preferred shares |  |  | (79,169) |  |  |  | (25,332) |  |  |  | - |  |  |  | - |
Net income (loss) attributable to ordinary shareholders: |  |  | (155,649) |  |  |  | (2,711) |  |  |  | 86,633 |  |  |  | 12,477 |
Net income (loss) |  |  | (59,814) |  |  |  | 22,621 |  |  |  | 86,633 |  |  |  | 12,477 |
Foreign currency translation adjustment |  |  | 1,249 |  |  |  | 18,008 |  |  |  | 25,136 |  |  |  | 3,620 |
Comprehensive income (loss) |  |  | (58,565) |  |  |  | 40,629 |  |  |  | 111,769 |  |  |  | 16,097 |
CONDENSED STATEMENT OF CASH FLOWS (All amounts in thousands, except for share and per share data)
|  | For year ended December 31, |
|  | 2014 |  |  | 2015 |  |  | 2016 |
|  |  |  |  |  |  |  |  |  |  | US$ |
|  | RMB |  |  | RMB |  |  | RMB |  |  | Note 3 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  |  | (59,814) |  |  |  | 22,621 |  |  |  | 86,633 |  |  |  | 12,477 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange (gain) loss |  |  | 2,414 |  |  |  | 471 |  |  |  | (7) |  |  |  | (1) |
Equity in (income) loss of subsidiaries and VIE |  |  | 57,334 |  |  |  | (23,644) |  |  |  | (86,951) |  |  |  | (12,523) |
Changes in other current liabilities |  |  | 38 |  |  |  | 9,127 |  |  |  | (6,394) |  |  |  | (921) |
Net cash provided by (used in) operating activities |  |  | (28) |  |  |  | 8,575 |  |  |  | (6,719) |  |  |  | (968) |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Advances to subsidiaries and VIE |  |  | (5,932) |  |  |  | (229,031) |  |  |  | (14,879) |  |  |  | (2,143) |
Investment in cost method investees |  |  | - |  |  |  | (6,682) |  |  |  | - |  |  |  | - |
Investments in subsidiaries |  |  | - |  |  |  | (366,234) |  |  |  | 14,139 |  |  |  | 2,037 |
Net cash used in investing activities |  |  | (5,932) |  |  |  | (601,947) |  |  |  | (740) |  |  |  | (106) |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from amounts due to related parties |  |  | 68,941 |  |  |  | - |  |  |  | - |  |  |  | - |
Repayment of amounts due to related parties |  |  | (61,472) |  |  |  | - |  |  |  | - |  |  |  | - |
Proceeds from shareholders’ payment for ordinary shares |  |  | 17 |  |  |  | - |  |  |  | - |  |  |  | - |
Proceeds from issuance of Series D convertible redeemable preferred shares, net |  |  | 145,746 |  |  |  | - |  |  |  | - |  |  |  | - |
Proceeds from issuance of ordinary shares upon public offering |  |  | - |  |  |  | 784,350 |  |  |  | 253,678 |  |  |  | 36,537 |
Proceeds from exercises of stock options |  |  | - |  |  |  | 11 |  |  |  | 3,943 |  |  |  | 568 |
Payment for ordinary shares repurchase |  |  | - |  |  |  | (13,958) |  |  |  | (45,321) |  |  |  | (6,528) |
Advances for ordinary shares repurchase |  |  | - |  |  |  | (5,521) |  |  |  | - |  |  |  | - |
Payment for public offering costs |  |  | (823) |  |  |  | (77,289) |  |  |  | (15,644) |  |  |  | (2,253) |
Net cash provided by financing activities |  |  | 152,409 |  |  |  | 687,593 |  |  |  | 196,656 |  |  |  | 28,324 |
Net increase in cash and cash equivalents |  |  | 146,449 |  |  |  | 94,221 |  |  |  | 189,197 |  |  |  | 27,250 |
Cash and cash equivalents, beginning of year |  |  | - |  |  |  | 144,814 |  |  |  | 254,213 |  |  |  | 36,614 |
Effect of exchange rate changes on cash and cash equivalents |  |  | (1,635) |  |  |  | 15,178 |  |  |  | 17,260 |  |  |  | 2,486 |
Cash and cash equivalents, end of year |  |  | 144,814 |  |  |  | 254,213 |  |  |  | 460,670 |  |  |  | 66,350 |
1) Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.
2) The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries and VIE. For the parent company, the Company records its investments in subsidiaries and VIE under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures . Such investments are presented on the Condensed Balance Sheets as “Investments in subsidiaries and VIE” and the subsidiaries and VIE’ profit or loss as “Equity in income (loss) of subsidiaries and VIE” on the Condensed Statements of Operations and Comprehensive Income. Ordinarily under the equity, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of this Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, of the losses of subsidiaries and VIE regardless of the carrying value of the investment even though the parent company is not obligated to provide continuing support or fund losses.
3) Translations of balances in the Additional Financial Information of Parent Company-Financial Statements Schedule I from RMB into US$ as of and for the year ended December 31, 2016 are solely for the convenience of the readers and were calculated at the rate of US$1.00 = RMB6.9430, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 30, 2016. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2016, or at any other rate.
4) As of December 31, 2015 and 2016, there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company.

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- 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=68079674&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
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