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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY | 12 Months Ended
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Dec. 31, 2014
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY [Abstract] |
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY |
| 23. | CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
Under PRC laws and regulations, the Company's PRC subsidiary E-Sun Sky Computer and VIEs are restricted in their ability to transfer certain of its net assets to the Company in the form of dividend payments, loans or advances. The amounts restricted include paid up capital, retained earnings and statutory reserves, as determined pursuant to PRC generally accepted accounting principles, totaling RMB636,146 (US$102,528) as of December 31, 2014. The following is the condensed financial information of the Company on a parent company only basis. Condensed balance sheets
|  | As of December 31, 2013 |  |  | As of December 31, 2014 |  |  | As of December 31, 2014 |
|  | RMB |  |  | RMB |  |  | US$ |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 369,936 |  |  |  | 93,748 |  |  |  | 15,109 |
Time deposits |  |  | 121,085 |  |  |  | 372,450 |  |  |  | 60,028 |
Other current assets |  |  | 194 |  |  |  | 5,964 |  |  |  | 962 |
Amounts due from intergroup companies |  |  | 1,559 |  |  |  | 51,178 |  |  |  | 8,248 |
Total current assets |  |  | 492,774 |  |  |  | 523,340 |  |  |  | 84,347 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries and VIEs |  |  | 335,566 |  |  |  | 619,032 |  |  |  | 99,770 |
Property and equipment, net |  |  | 527 |  |  |  | 462 |  |  |  | 74 |
Total non-current assets |  |  | 336,093 |  |  |  | 619,494 |  |  |  | 99,844 |
TOTAL ASSETS |  |  | 828,867 |  |  |  | 1,142,834 |  |  |  | 184,191 |
|  | As of December 31, 2013 |  |  | As of December 31, 2014 |  |  | As of December 31, 2014 |
|  | RMB |  |  | RMB |  |  | US$ |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accrued payroll and welfare payable |  |  | - |  |  |  | 62 |  |  |  | 10 |
Accrued expenses and other liabilities |  |  | 12,098 |  |  |  | 11,217 |  |  |  | 1,807 |
Amounts due to intergroup companies |  |  | 7,349 |  |  |  | 13,933 |  |  |  | 2,246 |
Total current liabilities |  |  | 19,447 |  |  |  | 25,212 |  |  |  | 4,063 |
TOTAL LIABILITIES |  |  | 19,447 |  |  |  | 25,212 |  |  |  | 4,063 |
Shareholders' equity : |  |  |  |  |  |  |  |  |  |  |  |
Class A Ordinary shares, par value US$0.00005 per share, 700,000,000 shares authorized as of December 31, 2013 and 2014; 66,539,000 and 254,844,582 shares issued and outstanding as of December 31, 2013 and 2014, respectively |  |  | 20 |  |  |  | 85 |  |  |  | 14 |
Class B Ordinary shares, par value US$0.00005 per share; 300,000,000 shares authorized as of December 31, 2013 and 2014; 262,197,451 and 96,634,529 shares issued and outstanding as of December 31, 2013 and 2014, respectively |  |  | 94 |  |  |  | 36 |  |  |  | 6 |
Additional paid-in capital |  |  | 967,233 |  |  |  | 1,106,234 |  |  |  | 178,293 |
Accumulated other comprehensive income |  |  | 10,492 |  |  |  | 22,637 |  |  |  | 3,648 |
Accumulated deficit |  |  | (168,419 | ) |  |  | (11,370 | ) |  |  | (1,833 | )
Total shareholder's equity |  |  | 809,420 |  |  |  | 1,117,622 |  |  |  | 180,128 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |  |  | 828,867 |  |  |  | 1,142,834 |  |  |  | 184,191 |
Condensed statements of comprehensive income
|  | For the years ended December 31, |
|  | 2012 |  |  | 2013 |  |  | 2014 |  |  | 2014 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Net Revenues |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | - |  |  |  | - |  |  |  | (214 | ) |  |  | (34 | )
General and administrative |  |  | (608 | ) |  |  | (952 | ) |  |  | (11,875 | ) |  |  | (1,914 | )
Write-off of deferred offering expenses |  |  | (2,230 | ) |  |  | - |  |  |  | (3,241 | ) |  |  | (522 | )
Total operating expenses |  |  | (2,838 | ) |  |  | (952 | ) |  |  | (15,330 | ) |  |  | (2,470 | )
Other operating expenses |  |  | (4 | ) |  |  | - |  |  |  | - |  |  |  | - |
Operating loss |  |  | (2,842 | ) |  |  | (952 | ) |  |  | (15,330 | ) |  |  | (2,470 | )
Interest income |  |  | - |  |  |  | 246 |  |  |  | 10,920 |  |  |  | 1,760 |
Interest expense |  |  | - |  |  |  | (4,712 | ) |  |  | - |  |  |  | - |
Changes in fair value of derivative component of the convertible note |  |  | - |  |  |  | (26,809 | ) |  |  | - |  |  |  | - |
Equity in profits of subsidiaries and VIEs |  |  | 14,618 |  |  |  | 120,741 |  |  |  | 161,459 |  |  |  | 26,023 |
Income before income tax |  |  | 11,776 |  |  |  | 88,514 |  |  |  | 157,049 |  |  |  | 25,313 |
Income tax benefit (expense) |  |  | (7,533 | ) |  |  | 17,540 |  |  |  | - |  |  |  | - |
Net income |  |  | 4,243 |  |  |  | 106,054 |  |  |  | 157,049 |  |  |  | 25,313 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation gain (loss) |  |  | 58 |  |  |  | (5,496 | ) |  |  | 12,145 |  |  |  | 1,957 |
Comprehensive income |  |  | 4,301 |  |  |  | 100,558 |  |  |  | 169,194 |  |  |  | 27,270 |
Condensed statements of cash flows
|  | For the years ended December 31, |
|  | 2012 |  |  | 2013 |  |  | 2014 |  |  | 2014 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Net cash generated from (used in) operating activities |  |  | 38 |  |  |  | 7,387 |  |  |  | (26,721 | ) |  |  | (4,307 | )
Net cash generated from (used in) investing activities |  |  | 511 |  |  |  | (116,035 | ) |  |  | (293,289 | ) |  |  | (47,270 | )
Net cash generated from financing activities |  |  | 2,302 |  |  |  | 479,896 |  |  |  | 42,315 |  |  |  | 6,820 |
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  |  | (4,812 | ) |  |  | 1,507 |  |  |  | 243 |
Net increase (decrease) in cash and cash equivalents |  |  | 2,851 |  |  |  | 366,436 |  |  |  | (276,188 | ) |  |  | (44,514 | )
Cash and cash equivalents at beginning of the year |  |  | 649 |  |  |  | 3,500 |  |  |  | 369,936 |  |  |  | 59,623 |
Cash and cash equivalents at end of the year |  |  | 3,500 |  |  |  | 369,936 |  |  |  | 93,748 |  |  |  | 15,109 |
Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company's consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and VIEs. The parent company records its investment in its subsidiaries and VIEs 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 “Investment in subsidiaries and VIEs” and their respective profit or loss as “Equity in profits of subsidiaries and VIEs” on the condensed statements of comprehensive income. Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in a subsidiary and VIEs is reduced to zero unless the parent company has guaranteed obligations of the subsidiary and VIEs or is otherwise committed to provide further financial support. If the subsidiary and VIEs subsequently reports net income, the parent company shall resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended. The parent company's condensed financial statements should be read in conjunction with the Group's consolidated financial statements.

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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 SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: 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 Reference 3: 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=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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