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TAXATION (Tables)

12 Months Ended

Dec. 31, 2020

TAXATION

Schedule of Income (Loss) from Continuing Operations Before Income Taxes

​

​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2018	​	2019	​	2020	​	2020
​		RMB		RMB		RMB		US$
Non – PRC		(98,709)		(127,243)		(142,750)	​	(21,879)
PRC		(126,537)		(263,835)		(298,903)	​	(45,809)
​		(225,246)		(391,078)		(441,653)	​	(67,688)

Schedule of Income Tax Expense from Continuing Operations

​

​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2018	​	2019	​	2020	​	2020
​	​	RMB	​	RMB	​	RMB	​	US$
Current tax expense (benefit)		43,209		(16,570)		(24,047)		(3,685)
Deferred tax benefit		(9,158)		(22,416)		(13,577)		(2,081)
​		34,051		(38,986)		(37,624)		(5,766)

Reconciliation of Differences Between Statutory Tax Rate and Effective Tax Rate

​

​	​	​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2018	​	2019	​	2020	​	2020
​		RMB		RMB		RMB		US$
Loss before income taxes		(225,246)		(391,078)		(441,653)		(67,688)
Income tax computed at the tax rate of 25%		(56,309)		(97,770)		(110,413)		(16,920)
Effect of different tax rates in different jurisdictions		11,758		19,393		10,715		1,642
Non-deductible expenses		4,661		8,472		74,225		11,375
Non-taxable income		(7,322)		(234)		(78,447)		(12,023)
Statutory income (expense)	​	—	​	3,216	​	(2,544)	​	(390)
Interest and penalty	​	—	​	(6,811)	​	(465)	​	(71)
Unrecognized tax positions		41,122		—		—		—
Deferred tax expense	​	—	​	32,358	​	(2,314)	​	(355)
Changes of valuation allowance		45,112		41,868		71,545		10,965
Withholding tax		(4,971)		(39,478)		74		11
Effect of tax rate change		—		—		—		—
​		34,051		(38,986)		(37,624)		(5,766)

Schedule of Deferred Taxes

The components of deferred taxes are as follows:

​

​	​	​	​	​	​	​
​	​	As at December 31,
​	​	2019	​	2020	​	2020
​		RMB		RMB		US$
Deferred tax asset				​
Net operating loss*		163,538		105,783		16,212
Foreign exchange loss	​	—	​	3,232	​	495
Depreciation and amortization		6,262		9,954		1,526
Property, plant and equipment impairment		9,433		7,867		1,206
Deposits for non-current assets		16,350		18,475		2,831
Allowance for net investment in financing lease		4,518		4,856		744
Allowance for doubtful accounts		11,391		12,264		1,880
Lease liabilities		60,073		59,557		9,128
Other long-term assets		37,778		78,550		12,038
Equity investment		9,196		8,414		1,290
Others		1,891		2,686		413
Total deferred tax assets		320,430		311,638		47,763
less: Valuation allowance**		(260,850)		(257,579)		(39,476)
Net deferred tax assets		59,580		54,059		8,287
​	​	​	​	​	​	​
Deferred tax liabilities		​		​		​
Foreign exchange gain		(9,346)		—		—
Equity investment		(1,299)		—		—
Property, plant and equipment		(2,225)		(1,665)		(255)
Disposal of Beijing Century Friendship		(3,126)		(3,126)		(479)
Intangible assets		(132,566)		(130,074)		(19,937)
Right-of-use assets		(53,362)		(53,354)		(8,177)
Capitalized interest		(19,179)		(19,179)		(2,939)
Others		(3,915)		—		—
​	​	​	​	​	​	​
Total deferred tax liabilities		(225,018)		(207,398)		(31,787)
​	​	​	​	​	​	​
Deferred tax assets, net		—		—		—
​	​	​	​	​	​	​
Deferred tax liabilities, net		(165,438)		(153,339)		(23,500)

*     As of December 31, 2020, the Group had net operating losses from several of its PRC and oversea entities of RMB441,653 (US$67,688), which can be carried forward to offset future taxable profit. As per filed tax returns, the net operating loss from PRC entities will expire between 2021 to 2025. For the net operating loss from overseas entities, there is no limitation of expiration according to the statute of Hong Kong, Singapore and US.

**   The Group records a valuation allowance on its deferred tax assets that is sufficient to reduce the deferred tax assets to an amount that is more likely than not to be realized. Future reversal of the valuation allowance will be recognized either when the benefit is realized or when it has been determined that it is more likely than not that the benefit in future earnings will be realized.

Schedule of Movement of Valuation Allowance

​

​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2019	​	2020	​	2020
​		RMB		RMB		US$
Balance at the beginning of year		(217,076)		(260,850)		(39,977)
Change of valuation allowance in the current year		(43,774)		3,271		501
Balance at the end of year		(260,850)		(257,579)		(39,476)

Reconciliation of Accrued Unrecognized Tax Positions

The reconciliation of the beginning and ending amount of unrecognized tax benefits excluding the penalty and interest is as follows:

​

​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2019	​	2020	​	2020
​		RMB		RMB		US$
Balance at the beginning of year		81,000		98,984		15,170
Changes based on tax positions related to the current year		21,238		(6,446)		(988)
Additions related to prior year tax position		548		2,171		333
Decreases related to prior year tax position		(2,810)		(20,304)		(3,112)
Decreases relating to expiration of applicable statute of limitation		(1,386)		(7,213)		(1,105)
Foreign currency translation		394		(2,099)		(322)
Balance at the end of year		98,984		65,093		9,976

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