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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2016
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION [Abstract]  
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
31.
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
 
Condensed balance sheets
 
 
 
As at December 31
 
 
 
2015
 
2016
 
2016
 
 
 
RMB
 
RMB
 
US$
 
ASSETS
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash
 
 
1,768
 
 
22,218
 
 
3,200
 
Amounts due from subsidiaries
 
 
402,900
 
 
269,270
 
 
38,783
 
Total current assets
 
 
404,668
 
 
291,488
 
 
41,983
 
Non-current assets:
 
 
 
 
 
 
 
 
 
 
Investment in subsidiaries
 
 
2,662,807
 
 
2,309,225
 
 
332,598
 
Deferred cost, non-current
 
 
3,142
 
 
854
 
 
123
 
Total assets
 
 
3,070,617
 
 
2,601,567
 
 
374,704
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Short-term bank borrowings
 
 
550,995
 
 
410,963
 
 
59,191
 
Accrued expenses and other liabilities
 
 
521,618
 
 
34,986
 
 
5,039
 
Amounts due to subsidiaries
 
 
606,478
 
 
989,440
 
 
142,509
 
Total current liabilities
 
 
1,679,091
 
 
1,435,389
 
 
206,739
 
 
Total liabilities
 
 
1,679,091
 
 
1,435,389
 
 
206,739
 
 
 
 
 
 
 
 
 
 
 
 
Shareholders’ equity:
 
 
 
 
 
 
 
 
 
 
Ordinary shares (par value of US$0.0001 per share; authorized shares—500,000,000; issued shares—142,353,532 as of December 31, 2015 and 2016; outstanding shares—132,994,201 and 130,091,977 as of December 31, 2015 and 2016, respectively)
 
 
105
 
 
105
 
 
15
 
Treasury stock (9,359,331 and 12,261,555 as of December 31, 2015 and 2016, respectively)
 
 
(6)
 
 
(8)
 
 
(1)
 
Additional paid-in capital
 
 
1,774,330
 
 
1,852,245
 
 
266,779
 
Accumulated other comprehensive loss
 
 
(46,574)
 
 
(87,968)
 
 
(12,670)
 
Accumulated deficit
 
 
(336,329)
 
 
(598,196)
 
 
(86,158)
 
Total shareholders’ equity
 
 
1,391,526
 
 
1,166,178
 
 
167,965
 
Total liabilities and shareholders’ equity
 
 
3,070,617
 
 
2,601,567
 
 
374,704
 
 
Condensed statements of comprehensive income (loss)
 
 
 
For the Years Ended December 31
 
 
 
2014
 
2015
 
2016
 
2016
 
 
 
RMB
 
RMB
 
RMB
 
US$
 
Revenues
 
 
—
 
 
—
 
 
—
 
 
—
 
Cost of revenues
 
 
—
 
 
—
 
 
—
 
 
—
 
General and administrative expenses
 
 
(7,892)
 
 
(21,623)
 
 
(22,843)
 
 
(3,290)
 
Selling expenses
 
 
(754)
 
 
(797)
 
 
(825)
 
 
(119)
 
Operating loss
 
 
(8,646)
 
 
(22,420)
 
 
(23,668)
 
 
(3,409)
 
Equity in profit or loss of subsidiaries
 
 
146,488
 
 
(40,120)
 
 
(219,201)
 
 
(31,572)
 
Interest income
 
 
570
 
 
1,043
 
 
—
 
 
—
 
Interest expense
 
 
(17,899)
 
 
(20,619)
 
 
(19,326)
 
 
(2,783)
 
Changes in fair value of derivative
 
 
2,605
 
 
34,455
 
 
713
 
 
103
 
Loss on debt extinguishment
 
 
—
 
 
(36,648)
 
 
—
 
 
—
 
Foreign exchange gain
 
 
1,591
 
 
6,006
 
 
3,138
 
 
452
 
Net income (loss)
 
 
124,709
 
 
(78,303)
 
 
(258,344)
 
 
(37,209)
 
Other comprehensive loss, net of tax of nil foreign currency translation adjustments
 
 
(3,368)
 
 
(27,923)
 
 
(41,394)
 
 
(5,962)
 
Total other comprehensive loss
 
 
(3,368)
 
 
(27,923)
 
 
(41,394)
 
 
(5,962)
 
Comprehensive income (loss)
 
 
121,341
 
 
(106,226)
 
 
(299,738)
 
 
(43,171)
 
 
Condensed statements of cash flows
 
 
 
For the Years Ended December 31
 
 
 
2014
 
2015
 
2016
 
2016
 
 
 
RMB
 
RMB
 
RMB
 
US$
 
Net cash used in operating activities
 
 
(8,613)
 
 
(29,140)
 
 
(5,230)
 
 
(753)
 
Net cash provided by (used in) investing activities
 
 
304,646
 
 
(354,246)
 
 
785,513
 
 
113,137
 
Net cash (used in) provided by financing activities
 
 
(322,317)
 
 
196,366
 
 
(748,076)
 
 
(107,745)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exchange rate effect on cash
 
 
6,371
 
 
13,663
 
 
(11,757)
 
 
(1,694)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash
 
 
(19,913)
 
 
(173,357)
 
 
20,450
 
 
2,945
 
Cash at beginning of the year
 
 
195,038
 
 
175,125
 
 
1,768
 
 
255
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash at end of the year
 
 
175,125
 
 
1,768
 
 
22,218
 
 
3,200
 
 
Basis of presentation
 
For the presentation of the parent company only condensed financial information, the Company records its investment in subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments — Equity Method and Joint Ventures. Such investment is presented on the balance sheet as “Investment in subsidiaries” and the subsidiaries profit or loss as “Equity in profit or loss of subsidiaries” on the statements of comprehensive income (loss). The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.