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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2017
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION [Abstract]  
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
29.
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
 
Condensed balance sheets
 
 
 
As at December 31,
 
 
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
US$
 
ASSETS
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash
 
 
22,218
 
 
3,104
 
 
477
 
Amounts due from subsidiaries
 
 
269,270
 
 
414,692
 
 
63,737
 
Total current assets
 
 
291,488
 
 
417,796
 
 
64,214
 
Non-current assets:
 
 
 
 
 
 
 
 
 
 
Investment in subsidiaries
 
 
2,309,225
 
 
2,027,530
 
 
311,626
 
Deferred cost, non-current
 
 
854
 
 
800
 
 
123
 
Total assets
 
 
2,601,567
 
 
2,446,126
 
 
375,963
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Short-term bank borrowings
 
 
410,963
 
 
512,221
 
 
78,727
 
Accrued expenses and other liabilities
 
 
34,986
 
 
16,871
 
 
2,593
 
Amounts due to subsidiaries
 
 
989,440
 
 
982,985
 
 
151,082
 
Total current liabilities
 
 
1,435,389
 
 
1,512,077
 
 
232,402
 
 
 
 
 
 
 
 
 
 
 
 
Total liabilities
 
 
1,435,389
 
 
1,512,077
 
 
232,402
 
 
 
 
 
 
 
 
 
 
 
 
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 31,2016 and 2017; outstanding shares –130,091,977 as of December 31, 2016 and 2017)
 
 
105
 
 
105
 
 
16
 
Treasury stock
 
 
(8)
 
 
(8)
 
 
(1)
 
Additional paid-in capital
 
 
1,852,245
 
 
1,860,763
 
 
285,994
 
Accumulated other comprehensive loss
 
 
(87,968)
 
 
(47,418)
 
 
(7,288)
 
Accumulated deficit
 
 
(598,196)
 
 
(879,393)
 
 
(135,160)
 
Total shareholders’ equity
 
 
1,166,178
 
 
934,049
 
 
143,561
 
Total liabilities and shareholders’ equity
 
 
2,601,567
 
 
2,446,126
 
 
375,963
 
 
Condensed statements of comprehensive loss
 
 
 
For the Years Ended December 31,
 
 
 
2015
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
RMB
 
US$
 
Revenues
 
 
—
 
 
—
 
 
—
 
 
—
 
Cost of revenues
 
 
—
 
 
—
 
 
—
 
 
—
 
General and administrative expenses
 
 
(21,623)
 
 
(22,843)
 
 
(24,431)
 
 
(3,755)
 
Selling expenses
 
 
(797)
 
 
(825)
 
 
(1,802)
 
 
(277)
 
Operating loss
 
 
(22,420)
 
 
(23,668)
 
 
(26,233)
 
 
(4,032)
 
Equity in loss of subsidiaries
 
 
(40,120)
 
 
(219,201)
 
 
(250,696)
 
 
(38,531)
 
Interest income
 
 
1,043
 
 
—
 
 
—
 
 
—
 
Interest expense
 
 
(20,619)
 
 
(19,326)
 
 
(7,554)
 
 
(1,161)
 
Change in fair value of derivatives
 
 
34,455
 
 
713
 
 
—
 
 
—
 
Loss on debt extinguishment
 
 
(36,648)
 
 
—
 
 
—
 
 
—
 
Foreign exchange gain
 
 
6,006
 
 
3,138
 
 
163
 
 
25
 
Net loss
 
 
(78,303)
 
 
(258,344)
 
 
(284,320)
 
 
(43,699)
 
Other comprehensive (loss) income, net of tax of nil
 foreign currency translation adjustments
 
 
(27,923)
 
 
(41,394)
 
 
40,550
 
 
6,232
 
Total other comprehensive (loss) income
 
 
(27,923)
 
 
(41,394)
 
 
40,550
 
 
6,232
 
Comprehensive loss
 
 
(106,226)
 
 
(299,738)
 
 
(243,770)
 
 
(37,467)
 
 
Condensed statements of cash flows
 
 
 
For the Years Ended December 31,
 
 
 
2015
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
RMB
 
US$
 
Net cash used in operating activities
 
 
(29,140)
 
 
(5,230)
 
 
(89,751)
 
 
(13,794)
 
Net cash (used in) generated from investing activities
 
 
(354,246)
 
 
785,513
 
 
(21,452)
 
 
(3,297)
 
Net cash generated from (used in) financing activities
 
 
196,366
 
 
(748,076)
 
 
127,106
 
 
19,535
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exchange rate effect on cash
 
 
13,663
 
 
(11,757)
 
 
(35,021)
 
 
(5,383)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash
 
 
(173,357)
 
 
20,450
 
 
(19,118)
 
 
(2,939)
 
Cash at beginning of the year
 
 
175,125
 
 
1,768
 
 
22,218
 
 
3,415
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash at end of the year
 
 
1,768
 
 
22,218
 
 
3,100
 
 
476
 
 
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 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.