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ACQUISITIONS AND DISPOSALS (Tables)
 12 Months Ended
Dec. 31, 2019
Schedule of Gain Realized on Disposal

 

 

 

 

    

RMB

Fair value of retained noncontrolling investment

 

151,355

Disposition of net assets

 

92,501

Gain on disposal of Beijing Century Friendship and BPMC

 

58,854

 

Schedule of Reconciliation of total purchase consideration

The following is a reconciliation of the total purchase consideration for the acquisition:

 

 

 

 

    

RMB

- Cash consideration

 

421,730

- Fair value of previously hold equity interests

 

407,998

- Settlement of amounts due to Tianjin Jiatai Group (including the mandatorily redeemable noncontrolling interest in SP and purchase consideration of Wuxi MZJH)

 

(675,854)

- Settlement of advance from suppliers

 

(94,530)

- Settlement of other receivables

 

84,715

Total

 

144,059

 

Schedule of actual results from acquisition date

 

 

 

 

 

 

 

 

For the Years Ended December 31, 

 

 

2019

 

    

RMB

    

US$

 

 

 

 

 

Net revenues

 

366

 

53

Net loss

 

(7,902)

 

(1,135)

 

JWYK [Member]  
Schedule of Breakdown of Assets and Liabilities Attributed to Discontinued Operations

The carrying value of assets and liabilities of Beijing Century Friendship and BPMC as of April 6, 2017 (the date of disposal), are as follows:

 

 

 

 

 

    

RMB

Current assets

 

18,035

Deposit for operating license

 

109,581

Other non-current assets use

 

45

Current liabilities

 

(35,152)

Noncontrolling interests

 

(8)

Net assets disposed

 

92,501

 

Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

 

 

 

 

    

RMB

Current assets

 

47,827

Property, plant and equipment, net

 

17,297

Intangible assets*

 

454,013

Long term investments

 

300,504

Other non-current assets

 

108,322

Deferred tax assets

 

185

Goodwill

 

165,171

Current liabilities

 

(61,454)

Non-current liability

 

(165,436)

Deferred tax liabilities

 

(113,340)

Noncontrolling interests

 

(99,480)

Total

 

653,609

 

 

 

 

 

    

RMB

Total purchase price is comprised of:

 

  

- Cash consideration

 

570,600

- Fair value of previously hold equity interests

 

520,625

- Effective extinguishment of loans from the acquisition

 

(437,616)

Total

 

653,609

 

* Acquired amortizable intangible assets primarily include two operating licenses of hospitals of RMB164,440 and RMB272,910 respectively and a favorable lease contract of RMB16,010. The operating licenses have estimated amortization periods of 20 years and the favorable lease contract has estimated amortization periods of 12 years.

The following unaudited supplemental pro forma consolidated financial information for the years ended December 31, 2017 and 2018 are presented as if the acquisition had occurred at the beginning of the periods presented. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what the combined company’s operating results would have been had the acquisition taken place on January 1, 2017, nor do they project the future results of operations of the combined company. The actual results of operations of the combined company may differ significantly from the pro forma adjustments reflected here due to many factors.

 

 

 

 

 

 

 

Unaudited Supplemental Pro Forma

 

 

For the year ended December 31, 

 

 

2017

 

2018

 

    

RMB

    

RMB

 

 

 

 

 

Net revenues

 

4,569

 

12,056

Net loss

 

(70,018)

 

(63,159)

 

The results of operations of Guofu Huimei, Beijing Century Friendship, BPMC and CMCC since the acquisition date included in the consolidated statement of comprehensive loss of the Company for the year ended December 31, 2018 is as follows:

 

 

 

 

 

For the Years Ended 

 

 

December 31,

 

 

2018

 

    

RMB

 

 

 

Net revenues

 

4,827

Net loss

 

(5,639)

 

Tianjin Jiatai Group [Member]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

 

 

 

 

    

RMB

Current assets

 

9,451

Property, plant and equipment, net

 

53,649

Intangible assets

 

89,000

Goodwill

 

45,272

Current liabilities

 

(31,063)

Deferred tax liabilities

 

(22,250)

Total

 

144,059

 

The acquired intangible assets primarily include operating license for hospitals of RMB84,000 and a favorable lease contract of RMB5,000. The estimated amortization period of the operating licenses and favorable lease contract was 20 years and 17 years, respectively. The Group recognized RMB 45,272 (US$6,503) in goodwill arising from this acquisition, attributed to the synergies it expects from the combined operations of proton hospitals, the assembled workforce and their knowledge and experience in the PRC. The goodwill recognized is not deductible for income tax purposes.

The following unaudited supplemental pro forma consolidated financial information for the years ended December 31, 2018 and 2019 are presented as if the acquisition had occurred at the beginning of the periods presented. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what the combined company’s operating results would have been had the acquisition taken place on January 1, 2018, nor do they project the future results of operations of the combined company. The actual results of operations of the combined company may differ significantly from the pro forma adjustments reflected here due to many factors.

 

 

 

 

 

 

 

 

 

Unaudited Supplemental Pro Forma

 

 

For the year ended December 31,

 

    

2018

    

2019

    

2019

 

 

RMB

 

RMB

 

US$

 

 

 

 

 

 

 

Net revenues

 

186,086

 

193,251

 

27,759

Net loss

 

(376,130)

 

(589,774)

 

(84,716)