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EQUITY METHOD INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Schedule of Equity Method Investments
 
 
 
 
Equity interest owned by the
Group
As of December 31,
 
 
 
Notes
 
2016
 
2017
 
Xi’an JiangyuanAndike Ltd. (“JYADK”)
 
 
 
 
33
%
 
33
%
PTC
 
i)
 
 
59.51
%
 
59.51
%
Suzhou Chorus Medical Technologies Co., Ltd. (“Suzhou Chorus’)
 
ii)
 
 
36
%
 
36
%
Global Oncology One, Inc. (“Global Oncology”)
 
ii)
 
 
46.9
%
 
46.9
%
Guofu Huimei
 
iii)
 
 
-
 
 
26.07
%
ProMed
 
iv)
 
 
-
 
 
35.20
%
Wuxi Meizhongjiahe Cancer Center (“Wuxi MZJH”)
 
v)
 
 
-
 
 
10
%
BPMC
 
vi)
 
 
-
 
 
25
%
Beijing Century Friendship
 
vi)
 
 
-
 
 
21.69
%
Suzhou Shengshan Huiying Venture Capital Investment LLP. (“Suzhou Shengshan”)
 
vii)
 
 
-
 
 
8.13
%
  
i)
On December 28, 2012, the Group acquired 44.55% limited partner interests of PTC, a limited partnership in Texas, U.S.A., and 45% legal interest of PTC GP Management LLC, a limited liability company registered in Texas, U.S.A and the sole general partner of PTC with 1% interest of PTC, with a consideration of RMB201,176 in cash. On July 31, 2015, the Group acquired additional 14.34% limited partner interests of PTC and additional 17.07% legal interest of PTC GP Management LLC, with a consideration of RMB30,063 in cash. After the additional investments, the Group owned 59.51% interests of PTC which ultimately holds 45.41% legal ownership interests of the University of Texas MD Anderson Cancer Center Proton Therapy Center (“MDA Proton”), a proton treatment center in Texas, U.S.A.
 
In accordance with PTC GP Management LLC’s regulation, the Group is only entitled to designate two out of the five managers and simply majority (more than 50%) amongst the managers is required to pass any resolution. Furthermore the regulation can only amended at the request by managers or super majority (more than 2/3) of member interest. Thus the Group is not able to control PTC GP Management LLC.
 
According to the partnership agreements, the Group has significant influence over PTC which can demonstrate control over MDA Proton by acting as the sole general partner. The Group accounts for its investment in PTC, and ultimately MDA Proton, under the equity method of accounting. The Group’s share of the net profit or loss of PTC, after accounting for the effect of the difference between the cost basis of the equity method investment and the underlying assets of the investee, was a gain of RMB5,572, RMB127 and of RMB17,697 (US$ 2,720) for the years ended December 31, 2015, 2016 and 2017 respectively. Total cash distribution received by the Group from PTC was RMB24,316, RMB9,357 and RMB6,227 (US$ 957) for the years ended December 31, 2015, 2016 and 2017, respectively.
 
The differences between the carrying value of the investment in PTC and the underlying equity in the net assets of PTC was RMB107,139 and RMB34,206 on December 28, 2012 and July 31, 2015, respectively, which were mainly arisen from the identified intangibles in the purchase price allocation and are amortized in the remaining useful life..
 
The amount of the Group’s underlying equity in the net assets of PTC was RMB73,570 and RMB19,658 on December 28, 2012 and July 31, 2015, respectively.
 
ii)
In 2015, the Group entered into two share transfer agreements with JWYK, which was controlled by one of the Group's directors. Pursuant to the agreements, JWYK would acquired 36% equity interest in Suzhou Chorus and 100% interest in China Medstar, an oversea subsidiary of the Company who holds 46.9% equity interest in Global Oncology from the Group, at a consideration of RMB4,320 (US$622) and RMB8,679 (US$1,250) respectively. On April 25, 2016 and November 10, 2016, the Group received full payments from JWYK. As of December 31, 2017, the changes in registration of shareholders have not been completed and the consideration received was recorded in accrued expenses and other liabilities on the consolidated balance sheets (note 18). 
 
iii)
In April 2017, the Group completed the capital injection and obtained 26.07% in Guofu Huimei (note 1) with a total subscribed capital of RMB262,999 (US$40,422).
 
Guofu Huimei [Member]  
Additional Financial Information Disclosure
The following tables set forth the summarized financial information of Guofu Huimei:
 
 
 
As at December 31,
 
 
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
US$
 
Current assets
 
 
 
 
1,201,344
 
 
184,643
 
Non-current assets
 
 
 
 
930,412
 
 
143,002
 
Current liabilities
 
 
 
 
1,170,841
 
 
179,955
 
Non-current liabilities
 
 
 
 
 
 
 
Noncontrolling interests
 
 
 
 
 
 
 
  
 
 
For the Years Ended December 31,
 
 
 
2015
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
RMB
 
US$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
 
Gross profit
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
53,261
 
 
8,186
 
Net income attributable to the Group
 
 
 
 
 
 
13,896
 
 
2,136
 
All Equity Investees [Member]  
Additional Financial Information Disclosure
 
 
 
As at December 31,
 
 
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
US$
 
Current assets
 
 
139,963
 
 
1,490,408
 
 
229,072
 
Non-current assets
 
 
379,408
 
 
2,184,471
 
 
335,747
 
Current liabilities
 
 
171,317
 
 
1,382,880
 
 
212,545
 
Non-current liabilities
 
 
550,344
 
 
561,201
 
 
86,255
 
 
 
 
For the Years Ended December 31,
 
 
 
2015
 
2016
 
2017
 
2017
 
 
 
RMB
 
RMB
 
RMB
 
US$
 
Total revenues
 
 
286,021
 
 
247,327
 
 
277,192
 
 
42,604
 
Gross profit
 
 
101,820
 
 
56,074
 
 
63,998
 
 
9,836
 
Net income
 
 
58,373
 
 
18,379
 
 
14,631
 
 
2,249
 
Net income (loss) attributable to the Group
 
 
(5,572)
 
 
616
 
 
1,454
 
 
223