v2.4.0.8

SCHEDULE I | 12 Months Ended
--- | ---
Dec. 31, 2013
NOTES TO SCHEDULE 1 [Abstract] |
SCHEDULE 1 |
SCHEDULE 1 BALANCE SHEETS (In thousands of U.S. dollars, except share and per share data)
|  | At December 31, |
|  | 2012 |  |  | 2013 |
ASSETS |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,255 |  |  | $ | 688 |
Amounts due from subsidiaries |  |  | 14,544 |  |  |  | 15,343 |
Prepaid expenses and other current assets |  |  | 191 |  |  |  | 54 |
Total current assets |  |  | 15,990 |  |  |  | 16,085 |
Investments in subsidiaries |  |  | 392,493 |  |  |  | 398,324 |
Investments in an equity method investee |  |  | 11,478 |  |  |  | 14,987 |
Acquired intangible assets, net |  |  |  |  |  |  | 621 |
TOTAL ASSETS |  |  | 419,961 |  |  |  | 430,017 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities |  | $ | 1,902 |  |  | $ | 1,228 |
Amounts due to subsidiaries |  |  | 138,795 |  |  |  | 146,213 |
Total current liabilities |  |  | 140,697 |  |  |  | 147,441 |
Payable for acquisition of intangible assets |  |  | 475 |  |  |  | - |
Total liabilities |  |  | 141,172 |  |  |  | 147,441 |
Equity: |  |  |  |  |  |  |  |
Ordinary shares of par value $0.000001: 2,000,000,000 shares authorized 411,474,516 (2012: 408,985,092) shares issued and outstanding |  | $ | 1 |  |  | $ | 1 |
Additional paid-in capital |  |  | 20,202 |  |  |  | 18,882 |
Accumulated other comprehensive income |  |  | 35,751 |  |  |  | 40,734 |
Retained earnings |  |  | 222,835 |  |  |  | 222,959 |
Total equity |  |  | 278,789 |  |  |  | 282,576 |
TOTAL LIABILITIES AND EQUITY |  | $ | 419,961 |  |  | $ | 430,017 |
STATEMENTS OF OPERATIONS (In thousands of U.S. dollars, except share and per share data)
|  | Year ended December 31, |
|  | 2011 |  |  | 2012 |  |  | 2013 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  | $ | (1,339 | ) |  | $ | (944 | ) |  | $ | 1,017 |
General and administrative |  |  | (2,269 | ) |  |  | (2,190 | ) |  |  | (1,626 | )
Selling and marketing |  |  | (51 | ) |  |  | (48 | ) |  |  | 86 |
Total operating expenses |  |  | (3,659 | ) |  |  | (3,182 | ) |  |  | (523 | )
Loss from operations |  |  | (3,659 | ) |  |  | (3,182 | ) |  |  | (523 | )
Interest income |  |  | - |  |  |  | - |  |  |  | 1 |
Loss before income taxes |  |  | (3,659 | ) |  |  | (3,182 | ) |  |  | (522 | )
Income tax expenses |  |  | (150 | ) |  |  | (150 | ) |  |  | - |
Share of net income of subsidiaries, net of taxes |  |  | 6,786 |  |  |  | 1,080 |  |  |  | 848 |
Share of net income (loss) of an equity method investee |  |  | 28 |  |  |  | 50 |  |  |  | (202 | )
Net income (loss) |  | $ | 3,005 |  |  | $ | (2,202 | ) |  | $ | 124 |
STATEMENTS OF COMPREHENSIVE INCOME
(In thousands of U.S. dollars, except share and per share data)
|  | Year ended December 31, |
|  | 2011 |  |  | 2012 |  |  | 2013 |
Net income (loss) |  |  | 3,005 |  |  |  | (2,202 | ) |  |  | 124 |
Other comprehensive income , net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Change in cumulative foreign currency translation adjustments |  |  | 8,169 |  |  |  | 3,162 |  |  |  | 4,983 |
Total comprehensive income |  | $ | 11,174 |  |  | $ | 960 |  |  | $ | 5,107 |
STATEMENTS OF CHANGES IN EQUITY (In thousands of U.S. dollars, except share and per share data)
|  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | other |  |  | Accumulated |  |  |  |
|  | Ordinary shares |  |  | Additional |  |  | comprehensive |  |  | retained |  |  |  |
|  | Number |  |  | Amount |  |  | paid-in capital |  |  | income |  |  | earnings |  |  | Total |
Balance at January 1, 2011 |  |  | 427,705,308 |  |  | $ | 1 |  |  | $ | 24,252 |  |  | $ | 24,420 |  |  | $ | 222,032 |  |  | $ | 270,705 |
Repurchase of ordinary shares |  |  | (16,594,848 | ) |  |  | - |  |  |  | (6,251 | ) |  |  | - |  |  |  | - |  |  |  | (6,251 | )
Share-based compensation |  |  | - |  |  |  | - |  |  |  | 1,928 |  |  |  | - |  |  |  | - |  |  |  | 1,928 |
Exercise of share-based awards |  |  | 2,875,176 |  |  |  | - |  |  |  | 671 |  |  |  | - |  |  |  | - |  |  |  | 671 |
Share of subsidiaries' reserve |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8,169 |  |  |  | - |  |  |  | 8,169 |
Net income |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,005 |  |  |  | 3,005 |
Balance at December 31, 2011 |  |  | 413,985,636 |  |  | $ | 1 |  |  | $ | 20,600 |  |  | $ | 32,589 |  |  | $ | 225,037 |  |  | $ | 278,227 |
Repurchase of ordinary shares |  |  | (14,812,056 | ) |  |  | - |  |  |  | (4,166 | ) |  |  | - |  |  |  | - |  |  |  | (4,166 | )
Share-based compensation |  |  | - |  |  |  | - |  |  |  | 1,465 |  |  |  | - |  |  |  | - |  |  |  | 1,465 |
Exercise of share-based awards |  |  | 9,811,512 |  |  |  | - |  |  |  | 2,303 |  |  |  | - |  |  |  | - |  |  |  | 2,303 |
Share of subsidiaries' reserve |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,162 |  |  |  | - |  |  |  | 3,162 |
Net loss |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,202 | ) |  |  | (2,202 | )
Balance at December 31, 2012 |  |  | 408,985,092 |  |  | $ | 1 |  |  | $ | 20,202 |  |  | $ | 35,751 |  |  | $ | 222,835 |  |  | $ | 278,789 |
Repurchase of ordinary shares |  |  | (11,772,294 | ) |  |  | - |  |  |  | (4,853 | ) |  |  | - |  |  |  | - |  |  |  | (4,853 | )
Share-based compensation |  |  | - |  |  |  | - |  |  |  | 492 |  |  |  | - |  |  |  | - |  |  |  | 492 |
Exercise of share-based awards |  |  | 14,261,718 |  |  |  | - |  |  |  | 3,041 |  |  |  | - |  |  |  | - |  |  |  | 3,041 |
Share of subsidiaries' reserve |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,983 |  |  |  | - |  |  |  | 4,983 |
Net income |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 124 |  |  |  | 124 |
Balance at December 31, 2013 |  |  | 411,474,516 |  |  | $ | 1 |  |  | $ | 18,882 |  |  | $ | 40,734 |  |  | $ | 222,959 |  |  | $ | 282,576 |
STATEMENTS OF CASH FLOWS (In thousands of U.S. dollars)
|  | Year ended December 31, |
|  | 2011 |  |  | 2012 |  |  | 2013 |
Operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 3,005 |  |  | $ | (2,202 | ) |  | $ | 124 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of acquired intangible assets |  |  | - |  |  |  | - |  |  |  | 33 |
Share-based compensation |  |  | 1,928 |  |  |  | 1,465 |  |  |  | 492 |
Share of net income of subsidiaries |  |  | (6,786 | ) |  |  | (1,080 | ) |  |  | (848 | )
Share of net (income) loss of an equity method investee |  |  | (28 | ) |  |  | (50 | ) |  |  | 202 |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets |  |  | (186 | ) |  |  | 30 |  |  |  | 137 |
Accrued expenses and other current liabilities |  |  | 115 |  |  |  | 1,462 |  |  |  | (1,148 | )
Amounts due to subsidiaries |  |  | 15,489 |  |  |  | 3,440 |  |  |  | 7,418 |
Cash provided by operating activities |  |  | 13,537 |  |  |  | 3,065 |  |  |  | 6,410 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Investment in an equity method investee |  |  | (7,076 | ) |  |  | - |  |  |  | (3,712 | )
Increase in amounts due from subsidiaries |  |  | (67 | ) |  |  | (1,829 | ) |  |  | (799 | )
Capital contribution in subsidiaries |  |  | - |  |  |  | - |  |  |  | (654 | )
Cash used in investing activities |  |  | (7,143 | ) |  |  | (1,829 | ) |  |  | (5,165 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of ordinary shares |  |  | (6,251 | ) |  |  | (4,152 | ) |  |  | (4,853 | )
Proceeds from exercise of stock options |  |  | 671 |  |  |  | 2,289 |  |  |  | 3,041 |
Cash used in financing activities |  |  | (5,580 | ) |  |  | (1,863 | ) |  |  | (1,812 | )
Increase (decrease) in cash and cash equivalents |  |  | 814 |  |  |  | (627 | ) |  |  | (567 | )
Cash and cash equivalents at the beginning of the year |  |  | 1,068 |  |  |  | 1,882 |  |  |  | 1,255 |
Cash and cash equivalents at the end of the year |  | $ | 1,882 |  |  | $ | 1,255 |  |  | $ | 688 |
NOTES TO SCHEDULE 1
1 | Schedule 1
Schedule 1 has been provided pursuant to the requirements of Rule 12-04(a) and 4-08(e)(3) of Regulation S-X, which require condensed financial information as to financial position, changes in financial position and results and operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of the consolidated and unconsolidated subsidiaries together exceed 25 percent of consolidated net assets as of end of the most recently completed fiscal year. As of December 31, 2012 and 2013, $124,141 and $134,571 of the restricted capital and reserves are not available for distribution, and as such, the condensed financial information of the Company has been presented for the years ended December 31, 2011, 2012 and 2013.
2 | Basis of preparation
The condensed financial information has been prepared using the same accounting policies as set out in the Group's consolidated financial statements except that the parent company has used equity method to account for its subsidiaries.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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