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NET INVESTMENT IN DIRECT FINANCING LEASES

12 Months Ended

Dec. 31, 2016

NET INVESTMENT IN DIRECT FINANCING LEASES [Abstract]

NET INVESTMENT IN DIRECT FINANCING LEASES

14. NET INVESTMENT IN DIRECT FINANCING LEASES

The Group operates as a lessor in direct financing lease agreements for medical equipment, with hospitals and other companies that engage in ongoing cooperation agreements with hospitals. These leases have terms ranging generally from three to ten years. Net investment in direct financing leases is comprised of the following:

		As at December 31,
		2015			2016			2016
		RMB			RMB			US$
Total minimum lease payments to be received			233,820			94,341			13,587
Initial direct cost			3,963			3,963			571
			237,783			98,304			14,158
Unearned income			(27,878)			(12,054)			(1,736)
Net investment in direct finance leases			209,905			86,250			12,422
Current			100,988			59,060			8,506
Non-current			108,917			27,190			3,916
Total			209,905			86,250			12,422

Net investment in financing leases with carrying value of RMB143,440 and RMB75,506 (US$10,875) were pledged as collaterals for bank borrowings of RMB94,248 and RMB47,931 (US$6,904) as of December 31, 2015 and 2016, respectively (note 18).

Under the sales and leaseback arrangements, the net investment in direct financing lease due from Beijing Nai’ensi Technology Limited (“Nai’ensi”), a related party of the Group (note 25), was RMB27,072 and nil as of December 31, 2015 and 2016 respectively. The Group collected RMB9,000 on April 27, 2016 and provided full amount allowance for the remaining balance of RMB18,072 (US$2,603) in 2016.

 

The future minimum lease payments to be received from such non-cancelable direct financing leases are as follows:

		Future minimum lease payments
		RMB			US$
2017			63,094			9,087
2018			12,285			1,770
2019			7,409			1,067
2020			3,675			529
2021			3,457			498
above 5 years			8,384			1,207

X

- Definition

The entire disclosure for lessor's leasing arrangements, which includes direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25496975&loc=d3e45377-112738

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 55
-Paragraph 47
-URI http://asc.fasb.org/extlink&oid=6584217&loc=d3e38847-112698

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X

- References

No definition available.

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