v2.4.0.6
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2011
Principal Related Parties

The principal related parties with which the Group had transactions during the years presented are as follows:

 

Name of related party

   

Relationship with the Group

Shanghai 51 network development Co., Ltd. (“51 Network”)

   

A VIE of 51.com invested by Giant Interactive

Yangxun Computer Technology (Shanghai) Co. Ltd.

   

A VIE of MET invested by Giant Interactive

Prexton Investment Ltd., (“Prexton Investment”)

   

Company with the same key senior executive of the Company

Shanghai Jiante Biotechnology Co., Ltd.(“Shanghai Jiante”)

   

Company controlled by Mr. Shi Yuzhu

Huayi Giant Information

   

Equity investee

Juxian Network

   

Equity investee

Juxi Network

   

Equity investee

Union Sky Holding Group Limited (“Union Sky”)

   

Company’s shareholder
Significant Related Party Transactions

Significant related party transactions were as follows:

 

     For the year ended December 31,  
   2010     2011  
     (RMB)     (RMB)     (US$)  

Technical service fee paid to 51 network

      (12,789 )      —          —     

Other revenue from 51 network

      —          445,580        70,796   

Rental fee to Prexton Investment

      (3,592 )      —          —     

Rental fee to Shanghai Jiante

      (3,180,000 )      (12,000,000 )      (1,906,608 ) 

Advances to Huayi Giant Information

      25,000,000        —          —     

Royalty fee charged by Huayi Giant Information

      —          (18,485,392 )      (2,937,033 ) 

Technical service fee charge by Huayi Giant Information

      —          (7,500,000 )      (1,191,630 ) 

Other service fee from Huayi Giant Information

      —          4,354,136        691,803   

Payment of individual income tax related to the exercise of share options by Juxian Network

      —          (374,213 )      (59,456 ) 

Technical service fee charge from Juxian Network

      —          3,039,202        482,881   

Prepayment to Shanghai Jiante (1)

      —          958,800,000        152,337,978   

Repayment from Union Sky (1)

      —          (958,800,000 )      (152,337,978 ) 

Interest income from Union Sky (1)

      —          21,471,866        3,411,536   

Licensing income from Yangxun

      —          1,200,000        190,661   

Marketing expense charged by Yangxun

      —          (1,080,200 )      (171,626 ) 

 

(1) In April 2011, the Company made a prepayment to Shanghai Jiante, for a commitment to invest RMB958,800,000 (US$152,337,978) in Sunshine Insurance Group Corporation, Ltd., a privately held insurance company, which was due to investor sentiment, regulatory and other considerations, the Company subsequently unwound in August 2011 by transferring it to Union Sky for the full amount of the prepayment plus accrued interest of RMB21,471,866 (US$3,411,536), which was accrued from April through August 2011. Both these amounts were settled in cash in September, 2011.
Due from Related Parties

Due from related parties as of December 31, 2010 and 2011 are as follows:

 

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

Receivable from:

         

-Huayi Giant Information

      25,000,000         23,642         3,757   

-Juxi Network

      —           16,863         2,679   

-Juxian Network

      —           3,369,609         535,377   
  

 

 

     

 

 

     

 

 

  

Total

      25,000,000         3,410,114         541,813   
  

 

 

     

 

 

     

 

 

  
Due to Related Party

Due to a related party as of December 31, 2010 and 2011 are as follows:

 

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

Payable to:

         

-Juxian Network

      —           540,345         85,852   
  

 

 

     

 

 

     

 

 

  

Total

      —           540,345         85,852