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INVESTMENTS | 12 Months Ended
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Dec. 31, 2014
INVESTMENTS [Abstract] |
INVESTMENTS |
4. | INVESTMENTS
Short-term Investments Short-term Investments consist of the following: Short-term investments of the Group comprised of a structured deposit investment with an embedded derivative instrument (“Structured deposit”) that was not separately bifurcated. The Structured deposit was carried at fair value.
|  | As of December 31,2014 |
|  | Original cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Provision for decline in value |  |  | Fair value |  |  | Fair value |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Structured deposit |  |  | 71,306 |  |  |  | - |  |  |  | (1,124 | ) |  |  | - |  |  |  | 70,182 |  |  |  | 11,311 |
During the year ended December 31, 2014, the change in fair value of the Structured deposit of RMB1,124 (US$181) was recorded as "Changes in fair value of the structured deposit” in the consolidated statements of comprehensive income. Long-term Investments Long-term investments consisted of the following:
|  | As of December 31, 2013 |  |  | As of December 31, 2014 |  |  | As of December 31, 2014 |
|  | RMB |  |  | RMB |  |  | US$ |
Cost Method Investments |  |  |  |  |  |  |  |  |  |  |  |
Private companies |  |  | - |  |  |  | 5,114 |  |  |  | 824 |
Limited partnerships |  |  | - |  |  |  | 1,538 |  |  |  | 248 |
|  |  | - |  |  |  | 6,652 |  |  |  | 1,072 |
Cost method investments Private companies On January 31, 2014, the Group acquired 20% of the share capital of Beijing Huanlelingdang Technology Co., Ltd (“Huanlelingdang”), a non-listed company, at a consideration of RMB5,000(US$806). On April 23, the Group acquired 19% of the share capital of Shenzhen Hewei Technology Co., Ltd (“Hewei”), a non-listed company, at a consideration of RMB114(US$18). The investments in Huanlelingdang and Hewei were classified as cost method investments as the Group does not have significant influence over Huanlelingdang and Hewei. No impairment on the investment in Huanlelingdang and Hewei were recognized for the year ended December 31, 2014. Additionally, the Group determined that it is not practicable to estimate their fair values for disclosure purposes. Limited partnerships On June 12, 2014, the Group and Danhua Capital L.P (“Danhua”) entered into a subscription agreement, whereby the Group agreed to purchase a US$1,000 limited partnership interest in Danhua's fund (the “Fund”). As of December 31, 2014, the Group transferred US$250 to the Fund. The Group's unfunded commitment to the Fund is US$750 as of December 31, 2014. The Fund's investment strategy is primarily to invest in emerging companies operating in the USA and PRC. The Fund's investments are focused in the technology, media and telecommunications sectors. The Fund is scheduled to operate till November 15, 2021, unless terminated sooner or extended in accordance with the amended and restated limited partnership agreement.

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