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LEASE | 12 Months Ended
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Dec. 31, 2020
LEASE |
LEASE | 10. LEASE Leases of medical equipment as lessor The following table presents the lease receivables derive from the Group’s operating, sales-type and direct financing leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ |  | 2019 | ​ | 2020 | ​ | 2020
​ | ​ | RMB | ​ | RMB | ​ | US$
Current |  |  |  |  |  |
Account receivable - Operating lease |  | 38,201 |  | 38,266 |  | 5,865
Account receivable - Sales-type lease |  | 675 |  | 1,195 |  | 183
Net investment in direct financing leases |  | 35,240 |  | 25,045 |  | 3,838
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-current |  | ​ |  | ​ |  | ​
Net investment in direct financing leases |  | 27,084 |  | 13,720 |  | 2,103
​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | 101,200 |  | 78,226 |  | 11,989
​ Lease receivables for operating and sales-type leases are presented in accounts receivable on the consolidated balance sheets. Lease receivables for direct financing leases are presented as net investment in direct financing leases. As of December 31, 2019, and 2020, the allowance of lease receivables was RMB4,318 and RMB5,018 (US$769), respectively. Accordingly, risk of default with respect to these receivables is remote. Lease receivables with carrying value of RMB24,997 and RMB26,782 (US$4,105) (note 18) were pledged as collaterals for bank and other borrowings of RMB167,165 and RMB179,093 (US$27,447) as of December 31, 2019 and 2020, respectively. The following table presents the lease income recognized relating to the Group's operating, sales-type and direct financing leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended December 31, 2020
​ | ​ | ​ | ​ | ​ | ​ | Direct financing | ​ | ​ | ​ | ​
​ | ​ | Sales-type leases | ​ | leases | ​ | Operating leases
​ |  | RMB |  | US$ |  | RMB |  | US$ |  | RMB |  | US$
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling loss recognized at the commencement date |  | — |  | — |  | — |  | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest income on net investment in the lease |  | 4,130 |  | 633 |  | 2,929 |  | 449 | ​ | — | ​ | —
Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease |  | 4,130 |  | 633 |  | — |  | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease income relating to lease payments | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | 45,847 | ​ | 7,026
Including: Income relating to variable lease payments not included in the measurement of lease receivable |  | — | ​ | — |  | — |  | — | ​ | 38,999 | ​ | 5,977
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Year Ended December 31, 2019
​ |  | Sales-type leases | ​ | Direct financing leases | ​ | Operating leases
​ | ​ | RMB |  | US$ |  | RMB |  | US$ |  | RMB |  | US$
Selling loss recognized at the commencement date | ​ | (21,229) | ​ | (3,049) | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest income on net investment in the lease | ​ | 1,130 |  | 162 |  | 3,944 |  | 567 |  | — |  | —
Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease | ​ | 1,130 |  | 162 |  | — |  | — |  | — |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease income relating to lease payments | ​ | ​ |  | ​ |  |  |  |  |  | 53,485 |  | 7,683
Including: Income relating to variable lease payments not included in the measurement of lease receivable | ​ | — |  | — |  | — |  | — |  | 45,887 |  | 6,591
​ The Group's lease assets do not contain material residual value by the end of the lease term. In order to mitigate the risks associated with the residual value of its leased assets, the Group usually enters into arrangements where the lease terms are approximate to the economic useful life of the leased assets so as to minimize their residual value. Net investment in direct financing leases is comprised of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ | ​ | 2019 | ​ | 2020 | ​ | 2020
​ | ​ | RMB | ​ | RMB | ​ | US$
Minimum lease payments to be received |  | 68,520 |  | 41,304 |  | 6,330
Unearned income |  | (6,196) |  | (2,539) | ​ | (389)
Net investment in direct financing leases |  | 62,324 |  | 38,765 | ​ | 5,941
Current |  | 35,240 |  | 25,045 | ​ | 3,838
Non-current |  | 27,084 |  | 13,720 | ​ | 2,103
Total |  | 62,324 |  | 38,765 | ​ | 5,941
​ The future minimum lease payments to be received from such non-cancelable direct financing leases are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Future minimum
​ | ​ | direct financing lease payments
​ |  | RMB |  | US$
2021 |  | 19,570 | ​ | 2,999
2022 |  | 10,184 |  | 1,561
2023 |  | 9,427 |  | 1,445
2024 |  | 2,123 |  | 325
2025 |  | — |  | —
Above 5 years |  | — |  | —
​ The future minimum lease payments to be received from such non-cancelable operating leases are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Future minimum
​ | ​ | operating lease payments
​ |  | RMB |  | US$
2021 |  | 8,972 |  | 1,375
2022 |  | 8,972 |  | 1,375
2023 |  | 7,886 |  | 1,209
2024 |  | 7,196 |  | 1,103
2025 |  | 5,496 |  | 842
Above 5 years |  | 13,708 |  | 2,101
​ Lease payments for the Group’s sales-type lease payments are all variable based on the profit or revenue generated from the underlying assets thus the Group does not recognize any net investment in the lease at commencement. Failed sales-leaseback transactions as seller-lessee The Group has failed sales-leaseback transactions in which the Group acts as seller-lessee but does not effectively transfer control of the underlying asset to the buyer-lessor. The Group accounts for failed sales-leaseback transactions as financings. The Group recorded RMB 91,904 (US$14,085) and RMB 478,694 (US$73,363) under “Long-term bank and other borrowings, current portion” and "Long-term bank and other borrowings, non-current portion", respectively as of December 31, 2020. The effective interest rate used in the computation of interest expense ranged from 9.10% to 14.35%. Interest expenses recorded in the Group’s consolidated statement of comprehensive loss amounted to RMB119, RMB21,644, and RMB44,880 (US$6,878) for the years ended December 31, 2018, 2019 and 2020, respectively. Operating leases as lessee The components of lease cost were as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, 2020
​ |  | RMB |  | US$
Operating lease cost |  | 29,279 |  | 4,487
Short term lease cost |  | 930 |  | 143
​ | ​ | ​ | ​ | ​
Total |  | 30,209 |  | 4,630
​ For the year ended December 31, 2020, total operating and short-term lease costs of RMB16,792 (US$2,574) and RMB13,417 (US$2,056) were recorded in cost of revenue and general and administrative expenses, respectively. Other information ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year |
​ | ​ | ended December 31, 2020 |
​ |  | RMB |  | US$ |
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | 22,224 | ​ | 3,406 | ​
ROU assets obtained in exchange for operating lease liabilities* |  | 117,439 |  | 17,998 | ​
Weighted-average remaining lease terms (in years) | ​ | 7 | ​ | 7 | ​
Weighted-average discount rate |  | 5.66 | % | 5.66 | %
* Includes transition liabilities upon adoption of ASC 842, as well as new leases entered into during the year ended December 31, 2020. Changes in the ROU asset and liability are presented net within operating activities. Future minimum lease payments for operating leases as of December 31, 2020 are as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Minimum Lease Payments
​ |  | RMB |  | US$
Year ending December 31, |  |  |  |
2021 |  | 25,620 |  | 3,926
2022 |  | 27,657 |  | 4,239
2023 |  | 25,518 |  | 3,911
2024 |  | 22,708 |  | 3,480
2025 |  | 23,115 |  | 3,543
Thereafter |  | 235,590 |  | 36,106
Total future lease payments |  | 360,208 |  | 55,205
Less: Imputed interest |  | 123,069 |  | 18,861
Total lease liability balance |  | 237,139 |  | 36,344
​ The Group did not have any leasing transactions with related parties. Land use rights The following table presents the original cost payment, accumulated amortization and net carrying value of the Group’s land use rights for the periods presented: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ | ​ | 2019 | ​ | 2020 | ​ | 2020
​ | ​ | RMB | ​ | RMB | ​ | US$
​ | ​ | Right-of-use | ​ | Right-of-use | ​ | Right-of-use
​ | ​ | Asset | ​ | asset | ​ | asset
​ | ​ | ​ | ​ | ​ | ​ | ​
Land use rights |  | 456,823 |  | 463,992 |  | 71,110
Less: accumulated amortization |  | (27,962) |  | (37,475) |  | (5,743)
Net carrying value |  | 428,861 |  | 426,517 |  | 65,367
​ As of December 31, 2019 and 2020, the Group recorded land lease payment under “Right-of-use assets, net” of RMB428,861 and RMB426,517 (US$ 65,367), respectively. Amortization expenses for the years ended December 31, 2018, 2019 and 2020 were RMB9,610, RMB9,462 and RMB9,513 (US$1,458), respectively. The net book value of the Group’s land use right payments pledged to secure bank and other borrowings was RMB416,548 and RMB 414,470 (US$ 63,520) (note 18), respectively. The estimated annual amortization expenses for the land leases payment for each of the five succeeding years are as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Amortization
​ |  | RMB |  | US$
2021 | ​ | 9,621 |  | 1,475
2022 | ​ | 9,621 |  | 1,475
2023 | ​ | 9,621 |  | 1,475
2024 | ​ | 9,621 |  | 1,475
2025 | ​ | 9,621 |  | 1,475
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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