SECURED BORROWING

12 Months Ended

Dec. 31, 2015

19.

SECURED BORROWING

On December 8, 2015, the Company issued RMB417,000 (US$64,374) of secured borrowings with an annual interest rate from 5.0% to 6.0% to third party investors through an underwriter, HengTai Securities Co., Ltd. (“HengTai”). The borrowings have maturity terms ranged from one to five years and are secured by the Group's future leasing revenue from 14 network hospitals. The Company received net proceeds of RMB404,000 (US$62,367), which was net of the refundable security deposit of RMB13,000 (US$2,007) paid to HengTai. The Company incurred issuance cost of RMB7,506 (US$1,159) which was capitalized as deferred expense and will be recognized as interest expense based on effective interest rate.

As of December 31, 2015, RMB85,112 (US$13,139) of the secured borrowing due within one year was recorded in “accrued expenses and other liabilities”, and the remaining of RMB331,888 (US$51,235) was recorded as “long-term secured borrowing”.

As of December 31 2015, the maturity profile of these secured borrowings is as follows:

	RMB		US$
Within one year		86,000		13,276
Between one and two years		81,000		12,504
Between two and three years		86,000		13,276
Between three and four years		82,000		12,659
Between four and five years		82,000		12,659
		417,000		64,374