v2.4.0.6
INVESTMENT IN EQUITY INVESTEES
 12 Months Ended
Dec. 31, 2011
INVESTMENT IN EQUITY INVESTEES
9. INVESTMENT IN EQUITY INVESTEES

 

Name of the Equity Investees

    Equity Interest Owned by the Company  
     At December 31, 2010     At December 31, 2011  

Shanghai Tonghua Network Technology Co., Ltd. (“ Tonghua”)

      30.00 %      30.00 % 

Beijing Huayi Giant Information Technology Co., Ltd. (“Huayi Giant Information”)

      34.00 %      34.00 % 

Juxi Network

        41.98 % 

Juxian Network

        40.80 % 

Yunfeng E-commerce A Fund, L.P. and Yunfeng
E -Commerce B Fund, L.P. (Collectively known as the “Yunfeng Fund”)

        10.42 % 

 

    At December 31, 2010     Increased (decreased) during
the year ended December 31, 2011		     At December 31, 2011  
    Cost of
Investments
(RMB)		     Share of
equity
income
(RMB)		     Investment in
equity
investees
(RMB)		     Cost of
investments
(RMB)		    

Share of
equity
income

(RMB)

     Cost of
investments
(RMB)		     Share of
equity
income
(RMB)		     Investment in
equity
investees
(RMB)		      Investment in
equity
investees
(US$)		  

Tonghua

     3,000,000        (648,106 )      2,351,894        —          (1,083,151 )      3,000,000        (1,731,257 )      1,268,743         201,583   

Huayi Giant Information

     32,774,051        —          32,774,051        (4,782 )      538,265        32,769,269        538,265        33,307,534         5,292,034   

Juxi Network (Note 4)

     —          —          —          6,128,039        (163,888 )      6,128,039        (163,888 )      5,964,151         947,608   

Juxian Network (Note 4)

     —          —          —          1,319,023        (1,191,127 )      1,319,023        (1,191,127 )      127,896         20,321   

Yunfeng Fund (1)

     —          —          —          317,050,000        (6,318,100 )      317,050,000        (6,318,100 )      310,731,900         49,370,326   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total

     35,774,051        (648,106 )      35,125,945        324,492,280        (8,218,001 )      360,266,331        (8,866,107 )      351,400,224         55,831,872   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
(1) In September 2011, the Company invested an aggregate amount of RMB317,050,000 (US$50,374,172) in Yunfeng Fund as a Limited Partner, where it has a term of 10 years, with an option to extend for another two years. Given the Company holds more than three percent interest in Yunfeng Fund and the significance of this investment, the investment is accounted for under the equity method as prescribed in ASC323-10. As of and for the year ended December 31, 2011, the total assets, liabilities and operating loss of Yunfeng fund are RMB3,051,110,433 (US$484,772,626), RMB89,687,234 (US$14,249,866) and RMB63,008,814 (US$10,011,092), respectively.

There were no impairment indicators present associated with the investment in these equity investees as at December 31, 2010 and 2011.