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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Measurements [Abstract]

Financial instruments measured at fair value by level within the fair value hierarchy

				Fair Value Measurements at Reporting Date Using
		Carrying Value on Balance Sheets		Quote Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
		RMB		RMB		RMB		RMB
As of December 31, 2015:
Assets:
Term deposits and short term investments		769,681		106,907		662,774		—
Restricted cash		125,000		125,000		—		—
Available-for-sale investments		513,994		—		—		513,994
As of December 31, 2016:
Assets:
Term deposits and short term investments		781,298		22,198		759,100		—
Restricted cash		354,602		354,602		—		—
Available-for-sale investments		939,432		—		—		939,432

Reconciliation of the fair value measurements of available-for-sale investments using significant unobservable inputs (level 3)

		Fair Value Measurements Using Significant Unobservable Inputs
		(Level 3)
		RMB
Beginning balance as of January 1, 2015		77,093
Additional investments		352,008
Additional investments obtained from conversion of ordinary shares		40,538
Change in fair value		15,869
Currency translation adjustment		28,486
Ending balance as of December 31, 2015		513,994
Additional investments obtained from conversion of convertible loans		143,820
Change in fair value		247,336
Currency translation adjustment		34,282
Ending balance as of December 31, 2016		939,432

Key inputs used in available-for-sale investments valuation

		As of December 31,
		2015		2016
Discount rate		25.5	%	23.0	%
Lack of marketability discount (“DLOM”)		26.0	%	25.0	%
Volatility		50.3	%	47.0	%
Revenue growth rate		5.0%-503.0	%	10.0%-349.0	%
Terminal growth rate		3.0	%	3.0	%

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

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- Definition

Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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