Long-Term Investment

12 Months Ended

Dec. 31, 2011

10.

LONG-TERM INVESTMENT


	December 31,
	2010		2011
	(RMB)		(RMB)		(US$)

Shanghai Ruichuang Network Technology Co., Ltd. (1)		20,495,239		20,495,239		3,256,366
Beijing Innovation Works Development Fund		—		9,000,000		1,429,956

Total		20,495,239		29,495,239		4,686,322

(1)

On November 18, 2010, the Company purchased 3% of Shanghai Ruichuang Network Technology Co., Ltd’s ordinary shares for a total consideration of RMB20,495,239, which was accounted for as a cost method investment as prescribed by ASC 323-10. There was no impairment indicators present associated with this investment as at December 31, 2010 and 2011. This investment was subsequently sold in February 2012 with net proceeds of approximately RMB20,800,000 (US$3,305,000).

- Definition

The entire disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the entity does not have the ability to exercise significant influence.

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