Document_And_Entity_Informatio
Document And Entity Information | 12 Months Ended |
Dec. 31, 2014 | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | CNINSURE INC. |
Document Type | 20-F |
Current Fiscal Year End Date | -19 |
Entity Common Stock, Shares Outstanding | 1,150,565,906 |
Amendment Flag | FALSE |
Entity Central Index Key | 1413855 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | 31-Dec-14 |
Document Fiscal Year Focus | 2014 |
Document Fiscal Period Focus | FY |
Consolidated_Balance_Sheets
Consolidated Balance Sheets | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY |
Current assets: | |||
Cash and cash equivalents | $338,953 | 2,103,068 | 2,288,623 |
Restricted cash | 1,205 | 7,478 | 11,100 |
Short term investments | 111,031 | 688,900 | 253,900 |
Accounts receivable, net of allowance for doubtful accounts of RMB12,655 and RMB16,587 (US$2,673) as of December 31, 2013 and 2014, respectively (Note 2(e)) | 30,002 | 186,150 | 199,482 |
Insurance premium receivables | 76 | 472 | 57 |
Other receivables (Note 4) | 14,207 | 88,149 | 254,776 |
Deferred tax assets (Note 11) | 4,858 | ||
Amounts due from related parties (Note 15) | 33,782 | 209,601 | 144,371 |
Other current assets | 2,886 | 17,908 | 20,634 |
Total current assets | 532,142 | 3,301,726 | 3,177,801 |
Non-current assets: | |||
Property, plant, and equipment, net (Note 5) | 7,602 | 47,171 | 69,562 |
Goodwill, net (Note 6) | 21,512 | 133,474 | 78,553 |
Intangible assets, net (Note 2(g)) | 5,093 | 31,598 | 29,115 |
Deferred tax assets (Note 11) | 425 | 2,638 | 3,382 |
Investment in affiliates (Note 7) | 35,410 | 219,703 | 189,241 |
Other non-current assets | 1,962 | 12,176 | 13,076 |
Total non-current assets | 72,004 | 446,760 | 382,929 |
Total assets | 604,146 | 3,748,486 | 3,560,730 |
Current liabilities: | |||
Accounts payable (including accounts payable of the consolidated variable interest entities ("VIEs") without recourse to CNinsure Inc. of RMB10,282 and RMB 4,453 (US$718) as of December 31, 2013 and 2014, respectively) | 20,753 | 128,765 | 92,324 |
Insurance premium payables (including insurance premium payables of the consolidated VIEs without recourse to CNinsure Inc. of RMB223 and RMB268 (US$43) as of December 31, 2013 and 2014, respectively) | 474 | 2,942 | 4,066 |
Other payables and accrued expenses (including other payables and accrued expenses of the consolidated VIEs without recourse to CNinsure Inc. of RMB21,129 and RMB7,099 (US$1,144) as of December 31, 2013 and 2014, respectively) (Note 9) | 17,634 | 109,412 | 147,954 |
Accrued payroll (including accrued payroll of the consolidated VIEs without recourse to CNinsure Inc. of RMB2,172 and RMB1,083 (US$175) as of December 31, 2013 and 2014, respectively ) | 6,462 | 40,096 | 39,089 |
Income taxes payable (including income taxes payable of the consolidated VIEs without recourse to CNinsure Inc. of RMB2,603 and RMB2,571 (US$414) as of December 31, 2013 and 2014, respectively) | 8,740 | 54,225 | 55,992 |
Total current liabilities | 54,063 | 335,440 | 339,425 |
Non-current liabilities: | |||
Other tax liabilities (Note 11) | 8,680 | 53,855 | 50,735 |
Deferred tax liabilities (Note 11) | 4,018 | 24,931 | 23,808 |
Total non-current liabilities | 12,698 | 78,786 | 74,543 |
Total liabilities | 66,761 | 414,226 | 413,968 |
Commitments and contingencies (Note 16) | |||
Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 998,861,526 and 1,150,565,906 as of December 31, 2013 and 2014, respectively) (Note 12) | 1,380 | 8,563 | 7,624 |
Additional paid-in capital | 419,270 | 2,601,401 | 2,329,962 |
Statutory reserves | 31,980 | 198,422 | 182,740 |
Retained earnings | 123,289 | 764,963 | 618,885 |
Accumulated other comprehensive loss | -16,940 | -105,106 | -111,114 |
Subscription receivables (Note 2(m)) | -41,500 | -257,491 | |
Total CNinsure Inc. shareholders’ equity | 517,479 | 3,210,752 | 3,028,097 |
Noncontrolling interests | 19,906 | 123,508 | 118,665 |
Total equity | 537,385 | 3,334,260 | 3,146,762 |
Total liabilities and equity | $604,146 | 3,748,486 | 3,560,730 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals)(Variable Interest Entities Without Recourse [Member]) | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | USD ($) | CNY | CNY |
Accounts payable | $718 | 4,453 | 10,282 |
Insurance premium payables | 43 | 268 | 223 |
Other payables and accrued expenses | 1,144 | 7,099 | 21,129 |
Accrued payroll | 175 | 1,083 | 2,172 |
Income taxes payable | $414 | 2,571 | 2,603 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) | 12 Months Ended | |||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
USD ($) | CNY | CNY | CNY | Agency [Member] | Agency [Member] | Agency [Member] | Agency [Member] | Brokerage [Member] | Brokerage [Member] | Brokerage [Member] | Brokerage [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Other Segments [Member] | Other Segments [Member] | American Depositary Shares [Member] | American Depositary Shares [Member] | American Depositary Shares [Member] | American Depositary Shares [Member] | |||||
USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | |||||||||
Net revenues: | ||||||||||||||||||||||||||
Revenues | $346,519 | 2,150,011 | 1,757,024 | 1,586,117 | $261,807 | 1,624,410 | 1,418,512 | 1,305,310 | $37,492 | 232,620 | 63,418 | 48,855 | $47,220 | 292,981 | 261,206 | 217,497 | 13,888 | 14,455 | ||||||||
Operating costs and expenses: | ||||||||||||||||||||||||||
Operating costs and expenses | -260,316 | -1,615,157 | -1,293,372 | -1,085,809 | -203,379 | -1,261,888 | -1,094,843 | -936,246 | -29,912 | -185,593 | -47,351 | -29,716 | -27,025 | -167,676 | -142,245 | -113,697 | -8,933 | -6,150 | ||||||||
Selling expenses | -17,288 | -107,263 | -96,461 | -78,449 | ||||||||||||||||||||||
General and administrative expenses* | -63,935 | [1] | -396,692 | [1] | -349,205 | [1] | -356,033 | [1] | ||||||||||||||||||
Total operating costs and expenses | -341,539 | -2,119,112 | -1,739,038 | -1,520,291 | ||||||||||||||||||||||
Income from operations | 4,980 | 30,899 | 17,986 | 65,826 | 22,167 | 137,539 | 113,206 | 167,227 | 5,739 | 35,603 | 9,699 | 14,381 | 2,811 | 17,442 | 27,077 | 30,802 | -131,996 | -146,584 | ||||||||
Other income, net: | ||||||||||||||||||||||||||
Investment income | 7,130 | 44,240 | 8,886 | |||||||||||||||||||||||
Interest income | 13,256 | 82,251 | 84,250 | 90,323 | ||||||||||||||||||||||
Finance cost | -2,439 | |||||||||||||||||||||||||
Other, net | 376 | 2,330 | -4,601 | 6,742 | ||||||||||||||||||||||
Income from operations before income taxes and income of affiliates | 25,742 | 159,720 | 106,521 | 160,452 | ||||||||||||||||||||||
Income tax expense | -3,915 | -24,289 | -27,158 | -50,373 | ||||||||||||||||||||||
Share of income of affiliates | 4,940 | 30,649 | 20,621 | 14,658 | ||||||||||||||||||||||
Net income | 26,767 | 166,080 | 99,984 | 124,737 | ||||||||||||||||||||||
Less: Net (loss) income attributable to the noncontrolling interests | 696 | 4,320 | 4,341 | -5,773 | ||||||||||||||||||||||
Foreign currency translation adjustments | 968 | 6,008 | -6,982 | -2,481 | ||||||||||||||||||||||
Net income attributable to the CNinsure Inc’s shareholders | 26,071 | 161,760 | 95,643 | 130,510 | ||||||||||||||||||||||
Net income per share: | ||||||||||||||||||||||||||
Basic (in Dollars per share and Yuan Renminbi per share) | $0.03 | 0.16 | 0.1 | 0.13 | $0.52 | 3.22 | 1.92 | 2.6 | ||||||||||||||||||
Diluted (in Dollars per share and Yuan Renminbi per share) | $0.03 | 0.16 | 0.1 | 0.13 | $0.51 | 3.19 | 1.91 | 2.6 | ||||||||||||||||||
Shares used in calculating net income per share: | ||||||||||||||||||||||||||
Basic (in Shares) | 1,005,842,212 | 1,005,842,212 | 998,861,526 | 1,002,308,275 | ||||||||||||||||||||||
Diluted (in Shares) | 1,012,591,387 | 1,012,591,387 | 1,000,570,018 | 1,005,301,969 | ||||||||||||||||||||||
Net income | 26,767 | 166,080 | 99,984 | 124,737 | ||||||||||||||||||||||
Less: Net (loss) income attributable to the noncontrolling interests | 696 | 4,320 | 4,341 | -5,773 | ||||||||||||||||||||||
Foreign currency translation adjustments | 968 | 6,008 | -6,982 | -2,481 | ||||||||||||||||||||||
Comprehensive income | 27,735 | 172,088 | 93,002 | 122,256 | ||||||||||||||||||||||
Less: Comprehensive (loss) income attributable to the noncontrolling interests | 696 | 4,320 | 4,341 | -5,773 | ||||||||||||||||||||||
Comprehensive income attributable to the CNinsure Inc’s shareholders | $27,039 | 167,768 | 88,661 | 128,029 | ||||||||||||||||||||||
[1] | Including share-based compensation expenses of RMB66,878, RMB45,317 and RMB23,598 (US$3,803), for the years ended December 31, 2012, 2013 and 2014, respectively and on-line projects related expenses of RMB15,532, RMB25,480 and RMB62,943 (US$10,145), for the years ended December 31, 2012, 2013 and 2014, respectively. |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Parentheticals) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | |
Share-based compensation expenses | $3,803 | 23,598 | 45,317 | 66,878 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholder’s Equity | Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Retained Earnings, Appropriated [Member] | Retained Earnings, Appropriated [Member] | Retained Earnings [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | Subscription Receivables [Member] | Subscription Receivables [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Total | Total |
In Thousands, except Share data | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY | USD ($) | CNY |
Balance at Dec. 31, 2011 | 7,646 | 2,272,580 | 167,147 | 408,325 | -101,651 | 124,948 | 2,878,995 | |||||||||
Balance, shares (in Shares) at Dec. 31, 2011 | 1,002,541,446 | |||||||||||||||
Balance as of December 31, 2014 in US$ (in Dollars) | 7,624 | 2,284,906 | 178,440 | 527,542 | -104,132 | 113,527 | 3,007,907 | |||||||||
Net income (loss) | 130,510 | -5,773 | 124,737 | |||||||||||||
Foreign currency translation | -2,481 | -2,481 | ||||||||||||||
Exercise of share options | 1 | 347 | 348 | |||||||||||||
Exercise of share options, shares (in Shares) | 183,380 | 183,380 | ||||||||||||||
Repurchase of ordinary shares | -23 | -9,221 | -9,244 | |||||||||||||
Repurchase of ordinary shares (in Shares) | -3,863,300 | |||||||||||||||
Share-based compensation | 66,878 | 66,878 | ||||||||||||||
Provision for statutory reserves | 11,293 | -11,293 | ||||||||||||||
Capital injection by noncontrolling interest | 12,655 | 12,655 | ||||||||||||||
Acquisition of additional interests in a subsidiary | -45,678 | -16,570 | -62,248 | |||||||||||||
Disposal of subsidiaries | -1,733 | -1,733 | ||||||||||||||
Balance at Dec. 31, 2012 | 7,624 | 2,284,906 | 178,440 | 527,542 | -104,132 | 113,527 | 3,007,907 | |||||||||
Balance, shares (in Shares) at Dec. 31, 2012 | 998,861,526 | |||||||||||||||
Balance as of December 31, 2014 in US$ (in Dollars) | 2,329,962 | 182,740 | 618,885 | -111,114 | 118,665 | 3,146,762 | ||||||||||
Net income (loss) | 95,643 | 4,341 | 99,984 | |||||||||||||
Foreign currency translation | -6,982 | -6,982 | ||||||||||||||
Share-based compensation | 45,317 | 45,317 | ||||||||||||||
Provision for statutory reserves | 4,300 | -4,300 | ||||||||||||||
Capital injection by noncontrolling interest | 3,350 | 3,350 | ||||||||||||||
Disposal of subsidiaries | -261 | -2,553 | -2,814 | |||||||||||||
Balance at Dec. 31, 2013 | 7,624 | 2,329,962 | 182,740 | 618,885 | -111,114 | 118,665 | 3,146,762 | |||||||||
Balance, shares (in Shares) at Dec. 31, 2013 | 998,861,526 | 998,861,526 | ||||||||||||||
Balance as of December 31, 2014 in US$ (in Dollars) | 1,380 | 8,563 | 419,270 | 2,601,401 | 31,980 | 198,422 | 123,289 | 764,963 | -16,940 | -105,106 | -41,500 | -257,491 | 19,906 | 123,508 | 537,385 | 3,334,260 |
Net income (loss) | 161,760 | 4,320 | 26,767 | 166,080 | ||||||||||||
Issue new shares to employees | 928 | 256,563 | -257,491 | |||||||||||||
Issue new shares to employees (in Shares) | 150,000,000 | |||||||||||||||
Foreign currency translation | 6,008 | 968 | 6,008 | |||||||||||||
Exercise of share options | 11 | 3,172 | 3,183 | |||||||||||||
Exercise of share options, shares (in Shares) | 1,704,380 | 1,704,380 | ||||||||||||||
Share-based compensation | 23,598 | 23,598 | ||||||||||||||
Provision for statutory reserves | 15,682 | -15,682 | ||||||||||||||
Acquisition of additional interests in a subsidiary | -11,894 | 523 | -11,371 | |||||||||||||
Balance at Dec. 31, 2014 | $1,380 | 8,563 | $419,270 | 2,601,401 | $31,980 | 198,422 | $123,289 | 764,963 | ($16,940) | -105,106 | ($41,500) | -257,491 | $19,906 | 123,508 | $537,385 | 3,334,260 |
Balance, shares (in Shares) at Dec. 31, 2014 | 1,150,565,906 | 1,150,565,906 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | |
OPERATING ACTIVITIES | ||||
Net income | $26,767 | 166,080 | 99,984 | 124,737 |
Adjustments to reconcile net income to net cash generated from operating activities: | ||||
Depreciation | 4,551 | 28,235 | 31,253 | 26,349 |
Amortization of acquired intangible assets | 2,712 | 16,826 | 13,665 | 15,285 |
Allowance for doubtful receivables | 977 | 6,060 | 5,303 | 4,523 |
Compensation expenses associated with stock options | 3,803 | 23,598 | 45,317 | 66,878 |
Loss (gain) on disposal of property, plant and equipment | 47 | 292 | -17 | 3,662 |
Investment income | -2,485 | -15,419 | -2,700 | |
Finance cost | 2,439 | |||
Write down of dividend receivables | 7,561 | |||
Share of income of affiliates | -4,940 | -30,649 | -20,621 | -14,658 |
Changes in fair value of contingent assets | -4,500 | |||
Deferred taxes | -212 | -1,318 | -3,404 | -3,000 |
Changes in operating assets and liabilities: | ||||
Accounts receivable | 2,585 | 16,036 | -12,496 | -34,404 |
Insurance premium receivables | -36 | -225 | -47 | -6 |
Other receivables | 2,368 | 14,700 | 16,710 | -12,834 |
Amounts due from related parties | -405 | -2,513 | 4,500 | |
Other current assets | 467 | 2,900 | -3,886 | -4,273 |
Other non-current assets | 1,400 | -1,400 | ||
Accounts payable | 4,425 | 27,453 | -5,643 | -8,460 |
Insurance premium payables | -180 | -1,116 | 1,124 | 258 |
Other payables and accrued expenses | 630 | 3,911 | 7,215 | 180 |
Accrued payroll | 103 | 638 | -2,412 | 7,413 |
Income taxes payable | -285 | -1,768 | -9 | -14,384 |
Other tax liabilities | 1,278 | 7,928 | 3,148 | 4,003 |
Net cash generated from operating activities | 42,170 | 261,649 | 185,945 | 157,808 |
Cash flows from investing activities: | ||||
Purchase of short term investments | -88,096 | -546,600 | -283,900 | -40,600 |
Proceeds from disposal of short term investments | 19,052 | 118,208 | 32,291 | 71,080 |
Addition in investment in non-current assets | -1,131 | -7,019 | -1,948 | |
Return of investment in non-current assets | 629 | 3,900 | 1,300 | |
Purchase of intangible asset | -19 | -118 | ||
Purchase of property, plant and equipment | -1,001 | -6,209 | -36,181 | -11,624 |
Proceeds from disposal of property and equipment | 99 | 614 | 249 | 584 |
(Increase) decrease in other receivables | 18,314 | 113,632 | -67,706 | -3,400 |
Acquisition of subsidiaries, net of cash acquired of nil, nil and RMB1,291 (US$208) in 2012, 2013 and 2014, respectively | -10,107 | -62,709 | ||
Disposal of subsidiaries, net of cash disposed of RMB80, RMB2,656 and nil in 2012, 2013 and 2014, respectively | -1,532 | 1,967 | ||
Decrease (increase) in amounts due from related parties | -10,108 | -62,716 | -62,300 | 218,350 |
(Increase) decrease in restricted cash | 584 | 3,622 | -229 | -795 |
Net cash generated from (used in) investing activities | -71,784 | -445,395 | -419,308 | 234,914 |
Cash flows from financing activities: | ||||
Acquisition of additional interests in subsidiaries | -1,773 | -11,000 | -90,455 | |
Increase in capital injection by noncontrolling interests | 3,350 | 12,655 | ||
Proceeds on exercise of stock options | 513 | 3,183 | 348 | |
Repurchase of ordinary shares | -9,244 | |||
Net cash (used in) generated from financing activities | -1,260 | -7,817 | 3,350 | -86,696 |
Net increase (decrease) in cash and cash equivalents | -30,874 | -191,563 | -230,013 | 306,026 |
Cash and cash equivalents at beginning of year | 368,859 | 2,288,623 | 2,525,618 | 2,222,160 |
Cash and cash equivalents at end of year | 338,953 | 2,103,068 | 2,288,623 | 2,525,618 |
Effect of exchange rate changes on cash and cash equivalents | 968 | 6,008 | -6,982 | -2,568 |
Supplemental disclosure of cash flow information: | ||||
Interest paid | 0 | 0 | 0 | 0 |
Income taxes paid | $3,084 | 19,135 | 27,153 | 63,400 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parentheticals) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | |
Acquisition of subsidiaries, cash acquired | $208 | 1,291 | 0 | 0 |
Disposal of subsidiaries, cash disposed | $0 | 0 | 2,656 | 80 |
Note_1_Organization_and_Descri
Note 1 - Organization and Description of Business | 12 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | (1) Organization and Description of Business |
CISG Holdings Ltd ("CISG") was incorporated in the British Virgin Islands ("BVI") on June 8, 2004. CISG undertook a separate restructuring in anticipation of an initial public offering ("IPO") involving CNinsure Inc. (the "Company") that was incorporated in the Cayman Islands on April 10, 2007 as a shell company for listing purpose. On July 31, 2007, prior to its IPO, the Company issued 684,210,526 ordinary shares to the existing shareholders of CISG for exchange of their shares of CISG on a 10,000-for-1 basis and thereafter, became the ultimate holding company of CISG. The Company, its subsidiaries and variable interest entities (the "VIEs") are collectively referred to as the "Group". The Group is principally engaged in the provision of insurance brokerage and agency services, and insurance claims adjusting services, and services for wealth management products in the People’s Republic of China (the "PRC"). | |
Current PRC laws and regulations place certain restrictions on foreign investment in and ownership of insurance agencies, brokerages and on-line business. Accordingly, the Group conducts some of its operations in China through contractual arrangements among its PRC subsidiaries, two PRC affiliated entities and the equity shareholders of these PRC affiliated entities, who are PRC nationals. The contractual arrangements include a series of contracts entered into between the Group’s PRC subsidiaries and the equity shareholders of these PRC affiliated entities and these PRC affiliated entities, including loan agreements, equity pledge agreements, irrevocable powers of attorney, exclusive purchase option agreements, consulting and service agreements, information technology ("IT") platform service agreements and technology service agreements. The consulting and service agreements and IT platform service agreements were not renewed since 2013. Through these contractual arrangements, the Group is entitled to: (1) receive service fees from the subsidiaries of these PRC affiliated entities; (2) exercise all of the voting powers of the owners of these PRC affiliated entities; (3) receive dividends declared by these PRC affiliated entities and their subsidiaries; (4) acquire all the equity interests of these PRC affiliated entities and their subsidiaries once PRC laws permit; and (5) exercise its substantive kick out right under the terms of the exclusive purchase option agreement. As the Company is the sole primary beneficiary of these VIEs, the Company consolidates them into its consolidated financial statements (See note 8). | |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||
Significant Accounting Policies [Text Block] | (2) Summary of Significant Accounting Policies | ||||||||||||||||||
(a) | Basis of Presentation and Consolidation | ||||||||||||||||||
The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). The consolidated financial statements include the financial statements of the Company, all its majority-owned subsidiaries and those VIEs of which the Company is the primary beneficiary, from the dates they were acquired or incorporated. All intercompany balances and transactions have been eliminated in consolidation. In addition, the Group consolidates VIEs of which it is deemed to be the primary beneficiary and absorbs all of the expected losses and residual returns of the entity. | |||||||||||||||||||
(b) | Use of Estimates | ||||||||||||||||||
The preparation of the consolidated financial statements in conformity with US GAAP requires management of the Group to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant accounting estimates reflected in the Group’s consolidated financial statements included the valuation of deferred tax assets, valuation of goodwill and intangible assets and liabilities of acquired businesses on acquisition day for impairment analysis, allowance for doubtful receivables, fair values of the subsidiaries being transferred within the Group at the dates of transactions, the valuation of non-controlling interests acquired from related parties at acquisition dates, valuation of transfer pricing and fair value of share based compensation. Actual results could differ from those estimates. | |||||||||||||||||||
(c) | Cash and Cash Equivalents and Restricted Cash | ||||||||||||||||||
Cash and cash equivalents consist of cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash, and have insignificant risk of changes in value related to changes in interest rates. | |||||||||||||||||||
In its capacity as an insurance agent and broker, the Group collects premiums from certain insureds and remits the premiums to the appropriate insurance companies. Accordingly, as reported in the consolidated balance sheets, "premiums" are receivables from the insureds. Unremitted net insurance premiums are held in a fiduciary capacity until disbursed by the Group. The Group invests these unremitted funds only in cash accounts held for a short term, and reports such amounts as restricted cash in the consolidated balance sheets. Also included in the restricted cash is a guarantee deposits required by China Insurance Regulatory Commission ("CIRC") in order to protect insurance premium appropriation by insurance agency of RMB7,034 and RMB4,536 as of December 31, 2013 and 2014, respectively. | |||||||||||||||||||
(d) Short Term Investment | |||||||||||||||||||
Short term investments are mainly available-for-sale investments in debt securities that do not have a quoted market price in an active market. They are measured at costs which approximate their fair values in the consolidated balance sheets. The Group benchmark the costs against fair values of comparable investments as of balance sheet date, and categorized all fair value measures of short term investments as level 2 of the fair value hierarchy. No impairment loss on short term investments was identified for each of the years ended December 31, 2013 and 2014. | |||||||||||||||||||
(e) | Accounts Receivable and Insurance Premium Receivables | ||||||||||||||||||
Accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable represent fees receivable on agency, brokerage and claims adjusting services primarily from insurance companies. Amounts collected on accounts receivable are included in net cash provided by operating activities in the consolidated statements of cash flows. The allowance for doubtful accounts is the Group’s best estimate of the amount of probable credit losses in the Group’s existing accounts receivable. The Group determines the allowance based on historical write-off experience. The Group reviews its allowance for doubtful accounts regularly. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. | |||||||||||||||||||
Accounts receivable, net is analyzed as follows: | |||||||||||||||||||
As of December 31, | |||||||||||||||||||
2013 | 2014 | ||||||||||||||||||
RMB | RMB | ||||||||||||||||||
Accounts receivable | 212,137 | 202,737 | |||||||||||||||||
Allowance for doubtful accounts | (12,655 | ) | (16,587 | ) | |||||||||||||||
Accounts receivable, net | 199,482 | 186,150 | |||||||||||||||||
The following table summarizes the movement of the Group's allowance for doubtful accounts: | |||||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||
Balance at the beginning of the year | 9,348 | 9,903 | 12,655 | ||||||||||||||||
Provision for doubtful accounts | 4,523 | 5,303 | 3,932 | ||||||||||||||||
Write-offs | (3,968 | ) | (2,551 | ) | — | ||||||||||||||
Balance at the ending of the year | 9,903 | 12,655 | 16,587 | ||||||||||||||||
Insurance premium receivables consist of insurance premium to be collected from insured, and is recorded at the invoiced amount and do not bear interest. Amounts collected on insurance premium receivables are included in net cash provided by operating activities in the consolidated statements of cash flows. | |||||||||||||||||||
(f) | Property, Plant and Equipment | ||||||||||||||||||
Property, plant and equipment are stated at cost. Depreciation and amortization are calculated using the straight-line method over the following estimated useful lives, taking into account residual value: | |||||||||||||||||||
Estimated useful | Estimated residual | ||||||||||||||||||
life (Years) | value | ||||||||||||||||||
Building | 20 | - | 36 | 0% | |||||||||||||||
Office equipment, furniture and fixtures | 3 | - | 5 | 0% | - | 3% | |||||||||||||
Motor vehicles | 5 | - | 10 | 0% | - | 3% | |||||||||||||
Leasehold improvements | 5 | 0% | |||||||||||||||||
The depreciation methods and estimated useful lives are reviewed regularly. The following table summarizes the depreciation recognized in the consolidated statement of income and comprehensive income (loss): | |||||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||
Commission and fees under operating costs | 3,585 | 4,988 | 5,508 | ||||||||||||||||
Selling expenses | 1,880 | 1,636 | 1,282 | ||||||||||||||||
General and administrative expenses | 20,884 | 24,629 | 21,445 | ||||||||||||||||
Depreciation for the year | 26,349 | 31,253 | 28,235 | ||||||||||||||||
(g) | Goodwill and Other Intangible Assets | ||||||||||||||||||
Goodwill represents the excess of costs over fair value of net assets of businesses acquired. Goodwill is not amortized, but is tested for impairment at the reporting unit level at least on an annual basis at the balance sheet date or more frequently if certain indicators arise. The Group operated in three reporting units for the year ended December 31, 2014. The goodwill impairment review is a two-step process. Step 1 consists of a comparison of the fair value of a reporting unit with its carrying amount. An impairment loss may be recognized if the review indicates that the carrying value of a reporting unit exceeds its fair value. Estimates of fair value are primarily determined by using discounted cash flows. If the carrying amount of a reporting unit exceeds its fair value, step 2 requires the fair value of the reporting unit to be allocated to the underlying assets and liabilities of that reporting unit, resulting in an implied fair value of goodwill. If the carrying amount of the goodwill of the reporting unit exceeds the implied fair value, an impairment charge is recorded equal to the excess of the carrying amount over the implied fair value. | |||||||||||||||||||
The impairment review is highly judgmental and involves the use of significant estimates and assumptions. These estimates and assumptions have a significant impact on the amount of any impairment charge recorded. Discounted cash flow methods are dependent upon assumptions of future sales trends, market conditions and cash flows of each reporting unit over several years. Actual cash flows in the future may differ significantly from those previously forecasted. Other significant assumptions include growth rates and the discount rate applicable to future cash flows. | |||||||||||||||||||
In 2012, 2013 and 2014, management compared the carrying value of each reporting unit, inclusive of assigned goodwill, to its respective fair value which is the step one of the two-step impairment test. The fair value of all reporting units was estimated by using the income approach. Based on this quantitative test, it was determined that the fair value of each reporting unit tested exceeded its carrying amount and, therefore, step 2 of the two-step goodwill impairment test was unnecessary. The management concluded that goodwill was not impaired as of December 31, 2012, 2013 and 2014. | |||||||||||||||||||
Identifiable intangibles assets are required to be determined separately from goodwill based on their fair values. In particular, an intangible asset acquired in a business combination should be recognized as an asset separate from goodwill if it satisfies either the “contractual-legal” or “separability” criterion. Intangible assets with a finite economic life are carried at cost less accumulated amortization. Amortization for identifiable intangibles assets of customer relationship is computed using the accelerated method, while amortization for other identifiable intangibles assets is computed using the straight-line method over the intangible assets' economic lives. Intangible assets with indefinite economic lives are not amortized but carried at cost less any subsequent accumulated impairment losses. If an intangible asset that is not being amortized is subsequently determined to have a finite economic life, it will be tested for impairment and then amortized prospectively over its estimated remaining economic life and accounted for in the same manner as other intangible assets that are subject to amortization. Intangible assets with indefinite economic lives are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired. | |||||||||||||||||||
Separately identifiable intangible assets consist of brand name, trade name, customer relationship, non-compete agreement, agency agreement and license, and software and system. | |||||||||||||||||||
The intangible assets, net consisted of the following: | |||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||
Useful | Cost | Accumulated amortization | Accumulated | Net carrying | |||||||||||||||
life | Impairment | values | |||||||||||||||||
(Years) | loss | ||||||||||||||||||
RMB | RMB | RMB | RMB | ||||||||||||||||
Brand name | Indefinite | 24,091 | — | (20,384 | ) | 3,707 | |||||||||||||
Trade name | 9.4 | to | 10 | 8,898 | (2,925 | ) | — | 5,973 | |||||||||||
Customer relationship | 4.6 | to | 9.8 | 54,706 | (39,738 | ) | (5,760 | ) | 9,208 | ||||||||||
Non-compete agreement | 3 | to | 6.25 | 68,215 | (29,835 | ) | (34,692 | ) | 3,688 | ||||||||||
Agency agreement and license | 4.6 | to | 9.8 | 16,004 | (10,989 | ) | (581 | ) | 4,434 | ||||||||||
Software and system | 5 | to | 10 | 5,740 | (3,635 | ) | — | 2,105 | |||||||||||
177,654 | (87,122 | ) | (61,417 | ) | 29,115 | ||||||||||||||
As of December 31, 2014 | |||||||||||||||||||
Useful | Cost | Accumulated amortization | Accumulated | Net carrying | |||||||||||||||
life | Impairment loss | values | |||||||||||||||||
(Years) | |||||||||||||||||||
RMB | RMB | RMB | RMB | ||||||||||||||||
Brand name | Indefinite | 24,091 | — | (20,384 | ) | 3,707 | |||||||||||||
Trade name | 9.4 | to | 10 | 8,898 | (3,867 | ) | — | 5,031 | |||||||||||
Customer relationship | 4.6 | to | 9.8 | 67,096 | (48,012 | ) | (5,760 | ) | 13,324 | ||||||||||
Non-compete agreement | 3 | to | 6.25 | 69,485 | (32,557 | ) | (34,692 | ) | 2,236 | ||||||||||
Agency agreement and license | 4.6 | to | 9.8 | 21,394 | (14,789 | ) | (581 | ) | 6,024 | ||||||||||
Software and system | 5 | to | 10 | 5,999 | (4,723 | ) | — | 1,276 | |||||||||||
196,963 | (103,948 | ) | (61,417 | ) | 31,598 | ||||||||||||||
Aggregate amortization expenses for intangible assets were RMB15,285, RMB13,665 and RMB16,826 for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||||||||
Impairment of intangible assets with definite lives | |||||||||||||||||||
The Group evaluates the recoverability of identifiable intangible assets with determinable useful lives, whenever events or changes in circumstances indicate that these assets’ carrying amounts may not be recoverable. The Group measures the carrying amount of identifiable intangible asset with determinable useful live against the estimated undiscounted future cash flows associated with it. Impairment exists when the sum of the expected future net cash flows is less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. Fair value is estimated based on various valuation techniques, including the discounted value of estimated future cash flows. The evaluation of asset impairment requires the Group to make assumptions about future cash flows over the life of the asset being evaluated. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. During the years ended December 31, 2012, 2013 and 2014, the Group recognized no impairment losses on identifiable intangible assets with determinable useful lives. | |||||||||||||||||||
Impairment of indefinite-lived intangible assets | |||||||||||||||||||
An intangible asset that is not subject to amortization is tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. Such impairment test is to compare the fair values of assets with their carrying amounts and an impairment loss is recognized if and when the carrying amounts exceed the fair values. The estimates of fair values of intangible assets not subject to amortization are determined using various discounted cash flow valuation methodologies. Significant assumptions are inherent in this process, including estimates of discount rates or market price. Discount rate assumptions are based on an assessment of the risk inherent in the respective intangible assets. Market prices are based on potential purchase quote from third party, if any. During the years ended December 31, 2012, 2013 and 2014, the Group recognized no impairment losses on its indefinite-lived intangible assets. | |||||||||||||||||||
The estimated amortization expenses for the next five years are: RMB11,626 in 2015, RMB5,259 in 2016, RMB3,936 in 2017, RMB3,722 in 2018 and RMB2,557 in 2019, and an aggregate amount of RMB791 in years thereafter. | |||||||||||||||||||
(h) | Other Receivables and Other Current Assets | ||||||||||||||||||
Other receivables and other current assets mainly consist of receivables from third parties, advances, deposits, interest receivables, value-added tax recoverable and prepaid expenses. | |||||||||||||||||||
(i) | Investment in Affiliates | ||||||||||||||||||
Investments in affiliates are accounted for using the equity method. The Group does not control the affiliates but exerts significant influence over them. | |||||||||||||||||||
(j) | Other Non-current Assets | ||||||||||||||||||
Other non-current assets represent investments in equity security of private companies which the group owns equity interest of less than 20%, over which the Group exerts no significant influence and are measured initially at cost. As of December 31, 2012, the other non-current assets also included dividend receivable from Datong of RMB7,561, recorded at amortized cost after discounting with the effective interest rate. As of December 31, 2013, dividend receivable from Datong of RMB7,561 was fully impaired. | |||||||||||||||||||
(k) | Impairment of Long-Lived Assets | ||||||||||||||||||
Property, plant, and equipment, and purchased intangible assets with definite life, subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. | |||||||||||||||||||
(l) | Insurance Premium Payables | ||||||||||||||||||
Insurance premium payables are insurance premiums collected on behalf of insurance companies but not yet remitted as of the balance sheet dates. | |||||||||||||||||||
(m) | Subscription Receivables | ||||||||||||||||||
The Group entered into share purchase agreements with companies established on behalf of our employees (the "Employee Companies") for the issuance of 100,000,000 ordinary shares with US$0.27 per ordinary share and 50,000,000 ordinary shares with US$0.29 per ordinary share in 2014. The issue prices are the average closing prices for the 20 trading days prior to the board approval dates of such subscriptions. The sale of shares to the Employee Companies was completed on December 17, 2014. | |||||||||||||||||||
In order to facilitate the purchase of shares by employees as described above, the Group has granted a loan to the Employee Companies. The loan bears interest at a rate of 3% per annum and is repayable upon the sale of the shares by employees, termination of employment or within two years, whichever comes first. Please refer to note 12 for details. The interest rate is determined with reference to fair market prices and therefore no interest-related compensation expense is recorded. | |||||||||||||||||||
According to FASB ASC 505-10-45, the loan is recorded as a separate line of deduction from equity in the Group’s consolidated balance sheet as of December 31, 2014. Interest income accruing from the loan is recognized as non-operating income. None of the loans to employees have been repaid up to the date of this report and total balance thereof as of year-end was RMB257,491 (US$41,500). | |||||||||||||||||||
(n) | Income Taxes | ||||||||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carryforwards and credits by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. | |||||||||||||||||||
In 2014, the Group has adopted FASB ASU No. 2013-11—Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists prospectively, to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the balance sheets as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the Group to use, and the Group does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit is presented in the balance sheets as a liability. | |||||||||||||||||||
(o) | Share-based Compensation | ||||||||||||||||||
Employee share-based compensation | |||||||||||||||||||
All forms of share-based payments to employees, including employee stock options and employee stock purchase plans, are treated the same as any other form of compensation by recognizing the related cost in the consolidated statement of income and comprehensive income (loss). Compensation cost related to employee stock options or similar equity instruments is measured at the grant date based on the fair value of the award and is recognized over the service period, which is usually the vesting period. If an award requires satisfaction of one or more performance, or service conditions (or any combination thereof), compensation cost is recognized if the requisite service is rendered, and no compensation cost is recognized if the requisite service is not rendered. The Group recognizes compensation cost for an award with only service conditions that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, provided that the amount of compensation cost recognized at any date must at least equal the portion of the grant-date value of the award that is vested at that date. For awards with both service and performance conditions, if each tranche has an independent performance condition for a specified period of service, the Group recognizes the compensation cost of each tranche as a separate award on a straight-line basis; if each tranche has performance conditions that are dependent of activities that occur in the prior service periods, the Group recognizes the compensation cost on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in-substance, multiple awards. No compensation cost is recognized for instruments that employees forfeit because a service condition or a performance condition is not satisfied. | |||||||||||||||||||
Non-employee share-based compensation | |||||||||||||||||||
Share-based compensation related to non-employees is recognized as compensation expenses ratably over the requisite service periods. The Group measures the cost of non-employee services received in exchange for share-based compensation based on the fair value of the equity instruments issued. The Group measures the fair value of the equity instruments in these transactions on the measurement date, which is determined as the earlier of the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or the date at which the counterparty’s performance is complete. The quantity and terms of the equity instruments issued to non-employees are not known up front as they are dependent upon counterparty performance conditions, the Group measures the equity instruments at their then-current lowest aggregate fair value at each reporting dates, and attributes the changes in those fair values over the future services period until the measurement date has been established. | |||||||||||||||||||
Modification of an Award | |||||||||||||||||||
A modification of the terms or conditions of an equity award is treated as an exchange of the original award for a new award. The Group measures the effects of a modification as follows: | |||||||||||||||||||
a. Incremental compensation cost shall be measured as the excess, if any, of the fair value of the modified award determined over the fair value of the original award immediately before its terms are modified, measured based on the share price and other pertinent factors at that date; and | |||||||||||||||||||
b. The total recognized compensation cost for an equity award shall at least equal the fair value of the award at the grant date unless at the date of the modification the performance or service conditions of the original award are not expected to be satisfied. | |||||||||||||||||||
The Group records the incremental fair-value-based measure, if any, of the modified award, as compensation cost on the date of modification (for vested awards) or over the remaining service (vesting) period (for unvested awards). | |||||||||||||||||||
Cancellation of an Award | |||||||||||||||||||
A cancellation of an award that is not accompanied by the concurrent grant of (or offer to grant) a replacement award or other valuable consideration shall be accounted for as a repurchase for no consideration. Accordingly, any previously unrecognized compensation cost shall be recognized at the cancellation date. | |||||||||||||||||||
The Group uses the Black-Scholes or the Binominal option-pricing model to determine the fair value of stock options. Determining the value of share-based compensation expense in future periods requires the input of highly subjective assumptions, including estimated forfeitures and the price volatility of the underlying shares. The Group estimates the forfeitures of the shares based on past employee retention rates and its expectations of future retention rates, and prospectively revises the forfeiture rates based on actual history. The share compensation charges may change based on changes to the actual forfeitures. The actual share-based compensation expenses may be materially different from the current expectations. | |||||||||||||||||||
Share-based compensation expenses of RMB66,878, RMB45,317 and RMB23,598 for the years ended December 31, 2012, 2013 and 2014, respectively, were included in the general and administrative expenses. | |||||||||||||||||||
(p) | Employee Benefit Plans | ||||||||||||||||||
As stipulated by the regulations of the PRC, the Group’s subsidiaries and VIEs in the PRC participate in various defined contribution plans organized by municipal and provincial governments for its employees. The Group is required to make contributions to these plans at a percentage of the salaries, bonuses and certain allowances of the employees. Under these plans, certain pension, medical and other welfare benefits are provided to employees. The Group has no other material obligation for the payment of employee benefits associated with these plans other than the annual contributions described above. The contributions are charged to the consolidated statement of income and comprehensive income (loss) as they become payable in accordance with the rules of the above mentioned defined contribution plans. | |||||||||||||||||||
(q) | Revenue Recognition | ||||||||||||||||||
The Group’s revenue is derived principally from the provision of insurance brokerage, agency and claims adjusting services. The Group recognizes revenue when all of the following have occurred: persuasive evidence of an agreement with the insurance companies or insurance agencies exists, services have been provided, the fees for such services are fixed or determinable and collectability of the fee is reasonably assured. | |||||||||||||||||||
Insurance agency services are considered to be rendered and completed, and revenue is recognized, at the time an insurance policy becomes effective, that is, when the signed insurance policy is in place and the premium is collected from the insured. The Group has met all the four criteria of revenue recognition when the premiums are collected by the Group or the respective insurance companies and not before, because collectability is not ensured until receipt of the premium. Accordingly, the Group does not accrue any commission and fees prior to the receipt of the related premiums. Insurance brokerage services revenue is recognized when the signed insurance policy is in place and the premium is collected from the insured and the commission settlement confirmation is received from insurance companies, because the commission rate for brokerage services is negotiated case by case and the Group’s fees are fixed when such confirmation is received. No allowance for cancellation has been recognized for agency and brokerage businesses as the management of the Group estimates, based on its past experience that the cancellation of policies rarely occurs. Any subsequent commission adjustments in connection with policy cancellations which have been de minims to date are recognized upon notification from the insurance carriers. Actual commission and fee adjustments in connection with the cancellation of policies were 0.1%, 0.2% and 0.2% of the total commission and fee revenues during years ended December 31, 2012, 2013 and 2014, respectively. For property insurance and life insurance, agency and brokerage services, the Group may receive a performance bonus from insurance companies as agreed and per contract provisions. Once an agency and brokerage company achieves its performance target, typically a certain sales volume, the bonus will become due. The bonus amount is computed based on the insurance premium amount multiplied by an agreed-upon percentage. The contingent commissions are recorded when a performance target is being achieved. Insurance claims adjusting services are considered to be rendered and completed, and revenue is recognized at the time loss adjusting reports are confirmed being received by insurance companies. The Group has met all the four criteria of revenue recognition when the service is provided and the loss adjusting report is accepted by insurance companies. The Group does not accrue any service fee before the receipt of an insurance company’s acknowledgement of receiving the adjusting reports. Any subsequent adjustments in connection with discounts which have been de minims to date are recognized in revenue upon notification from the insurance companies. | |||||||||||||||||||
Other service fees include commission revenues earned from distribution of wealth management products and revenue from the provision of IT services. Commission from distribution of wealth management products are recorded when the products have been sold to customers, at which time the Group has fulfilled all its services obligations. Revenue from the provision of IT services is recognized when the services are rendered. | |||||||||||||||||||
The Group presents revenue net of sales taxes incurred. The sales taxes amounted to RMB99,001, RMB99,931 and RMB120,965 for the years ended December 31, 2012, 2013 and 2014, respectively. According to the Announcement on the VAT Reform Pilot Program of the Transportation and Selected Modern Service Sectors issued by the State Tax Bureau in July 2012, the transportation and some selected modern service sectors, including research and development (R&D) and technical services, information technology services, cultural creative services, logistics support services, tangible personal property leasing services, and assurance and consulting service, should pay value-added tax instead of business tax based on a predetermined timetable (hereinafter referred to as the “VAT Reform”), effective September 1, 2012 for entities in Beijing and November 1, 2012 for entities in Guangdong. The VAT Reform expanded nation-wide from August 1, 2013. A total of seven subsidiaries or VIEs in the Group that engage in consulting and information technology services met the VAT Reform requirements, and have started to pay value-added tax since the respectively effective days. Total Value-added taxes paid by the Group during the year ended December 31, 2013 and 2014 amounted to RMB12,013 and RMB14,997. | |||||||||||||||||||
(r) | Contingent Consideration | ||||||||||||||||||
The Group recognizes all the assets acquired and liabilities assumed in a business combination at the acquisition-date fair values, which will include an estimation of the fair value of contingent consideration payables if any. Subsequent changes in the fair value of contingent consideration payables will be recorded in the consolidated statement of income and comprehensive income (loss) when incurred. No change in fair value of contingent consideration payable was charged to consolidated statement of income and comprehensive income (loss) for the years ended December 31, 2012, 2013 and 2014. | |||||||||||||||||||
The selling shareholders of the acquired entities agreed to return part of considerations to the Group, if certain performance criteria cannot be met. The fair value of such contingent arrangements was charged to consolidated statement of income and comprehensive income (loss) in the amount of RMB4,500, nil and nil for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||||||||
(s) | Fair Value of Financial Instruments. | ||||||||||||||||||
Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows: | |||||||||||||||||||
Level 1-inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. | |||||||||||||||||||
Level 2-inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||
Level 3-inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. | |||||||||||||||||||
The carrying amounts of accounts receivable, insurance premium receivables, other receivables, accounts payable, other payables, amounts due from (to) related parties and insurance premium payables are approximate their fair values due to the short-term maturity of these instruments. | |||||||||||||||||||
Measured at fair value on a recurring basis | |||||||||||||||||||
The Group measured its short-term investments at fair value on a recurring basis as of December 31, 2013 and 2014. | |||||||||||||||||||
Short-term investments are measured at costs which approximate their fair values in the consolidated balance sheets. The Group benchmarks the costs against fair values of comparable investments as of balance sheet date, and categorized all fair value measures of short term investments as Level 2 of the fair value hierarchy. The fair value of the Company's short-term investments measured at recurring basis was RMB253,900 and RMB688,900, as of December 31, 2013 and 2014 respectively, all classified as Level 2 with fair value measurement at reporting date using significant other observable inputs. | |||||||||||||||||||
The Group did not have Level 3 investments as of December 31, 2013 and 2014. | |||||||||||||||||||
Measured at fair value on a non-recurring basis | |||||||||||||||||||
Goodwill and intangible assets are measured at fair value on a nonrecurring basis and they are recorded at fair value only when impairment is recognized. | |||||||||||||||||||
The Group measures certain assets, including the cost method investments, equity method investments and intangible assets, at fair value on a nonrecurring basis when they are deemed to be impaired. The fair values of these investments and intangible assets are determined based on valuation techniques using the best information available, and may include management judgments, future performance projections, etc. An impairment charge to these investments is recorded when the cost of the investment exceeds its fair value and this condition is determined to be other-than-temporary, and impairment charge to the intangible assets is recorded when their carrying amounts may not be recoverable. | |||||||||||||||||||
(t) | Foreign Currencies | ||||||||||||||||||
The functional currency of the Company is the United States dollar ("USD"). Assets and liabilities are translated at the exchange rates at the balance sheet date, equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income or loss in the consolidated statements of income and comprehensive income (loss). The Group has chosen the Renminbi ("RMB") as their reporting currency. | |||||||||||||||||||
The functional currency of the most of the Company’s subsidiaries and VIEs is RMB. Transactions in other currencies are recorded in RMB at the rates of exchange prevailing when the transactions occur. Monetary assets and liabilities denominated in other currencies are translated into RMB at rates of exchange in effect at the balance sheet dates. Exchange gains and losses are recorded in the consolidated statements of income and comprehensive income (loss). | |||||||||||||||||||
(u) | Foreign Currency Risk | ||||||||||||||||||
The RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of RMB into foreign currencies. The value of RMB is subject to changes in central government policies and international economic and political developments that affect supply and demand in the China Foreign Exchange Trading System market of cash and cash equivalents. The Group had aggregate amounts of RMB2,262,712 and RMB2,080,842 of cash and cash equivalents denominated in RMB as of December 31, 2013 and 2014, respectively. | |||||||||||||||||||
(v) | Translation into United States Dollars | ||||||||||||||||||
The consolidated financial statements of the Group are stated in RMB. Translations of amounts from RMB into U.S. dollars are solely for the convenience of the readers and were calculated at the rate of US$1.00 =MB6.2046, representing the noon buying rate in the City of New York for cable transfers of RMB on December 31, 2014, as set forth in H.10 statistical release of the Federal Reserve Board. The translation is not intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on December 31, 2014, or at any other rate. | |||||||||||||||||||
(w) | Segment Reporting | ||||||||||||||||||
The Group distributes a variety of property and casualty, and life insurance products underwritten by domestic and foreign insurance companies operating in the PRC, and provides insurance claims adjusting services as well as other insurance-related services and distribution of wealth management products. Before January 1, 2014, the Group operated three operating segments: (1) property and casualty insurance ("P&C"), (2) life insurance ("Life"), and (3) insurance claims adjusting services ("Claims Adjusting"). From January 1, 2014, the Group realigned its financial reporting structure into three business segments that more accurately reflect its organizational structure and changing business mix. Historical results reflecting the new business segments for the corresponding period of the previous year have been restated. The new business segments are as follows: (1) insurance agency segment, which mainly consists of providing agency services for P&C insurance products and life insurance products to individual clients, (2) insurance brokerage segment, which mainly consists of providing P&C and life insurance brokerage services to institutional clients, and (3) claims adjusting segment, which consists of providing pre-underwriting survey, claim adjusting, disposal of residual value, loading and unloading supervision and consulting services. Details of these operating segments are described in note 21. Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the Group's chief operating decision maker in deciding how to allocate resources and in assessing performance. | |||||||||||||||||||
Substantially all revenues are derived in the PRC and all long-lived assets are located in the PRC. | |||||||||||||||||||
(x) | Earnings per Share ("EPS") or ADS | ||||||||||||||||||
Basic EPS is calculated by dividing the net income available to common shareholders by the weighted average number of ordinary shares /ADS outstanding during the year. Diluted EPS is calculated by using the weighted average number of ordinary shares /ADS outstanding adjusted to include the potentially dilutive effect of outstanding share-based awards, unless their inclusion in the calculation is anti-dilutive. | |||||||||||||||||||
(y) | Advertising Costs | ||||||||||||||||||
Advertising costs are expensed as incurred. Advertising costs amounted to RMB5,048, RMB5,724 and RMB6,553 for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||||||||
(z) | Operating Leases | ||||||||||||||||||
Leases where substantially all the rewards and risks of ownership of assets remain with the leasing company are accounted for as operating leases. Payments made under operating leases are charged to the consolidated statements of income and comprehensive income (loss) over the lease period. | |||||||||||||||||||
(aa) | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||
The Group presents comprehensive income in the consolidated statements of income and comprehensive income (loss) with net income in a continuous statement. | |||||||||||||||||||
Accumulated other comprehensive income (loss) represents foreign currency translation adjustments for the period. | |||||||||||||||||||
(ab) | Recently Issued Accounting Standards | ||||||||||||||||||
In May 2014, the FASB issued a new pronouncement which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles—Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. | |||||||||||||||||||
The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: | |||||||||||||||||||
· | Step 1: Identify the contract(s) with a customer. | ||||||||||||||||||
· | Step 2: Identify the performance obligations in the contract. | ||||||||||||||||||
· | Step 3: Determine the transaction price. | ||||||||||||||||||
· | Step 4: Allocate the transaction price to the performance obligations in the contract. | ||||||||||||||||||
· | Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. | ||||||||||||||||||
For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. | |||||||||||||||||||
An entity should apply the amendments in this ASU using one of the following two methods: | |||||||||||||||||||
1. Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients: | |||||||||||||||||||
· | For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period. | ||||||||||||||||||
· | For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods. | ||||||||||||||||||
· | For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue. | ||||||||||||||||||
2. Retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also should provide the additional disclosures in reporting periods that include the date of initial application of: | |||||||||||||||||||
· | The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change. | ||||||||||||||||||
· | An explanation of the reasons for significant changes. | ||||||||||||||||||
The Group is in the process of assessing the impact of adoption of this pronouncement on its consolidated financial condition or results from operations. | |||||||||||||||||||
In June 2014, the FASB issued a new pronouncement which requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation – Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. | |||||||||||||||||||
The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. | |||||||||||||||||||
Entities may apply the amendments in this ASU either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. In addition, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Group does not expect the adoption of this pronouncement to have a significant impact on its consolidated financial condition or results from operations. | |||||||||||||||||||
In January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. | |||||||||||||||||||
If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. | |||||||||||||||||||
The FASB heard from stakeholders that the concept of extraordinary items causes uncertainty because it is unclear when an item should be considered both unusual and infrequent. Additionally, some stakeholders said that although users find information about unusual or infrequent events and transactions useful, they do not find the extraordinary item classification and presentation necessary to identify those events and transactions. Other stakeholders noted that it is extremely rare in current practice for a transaction or event to meet the requirements to be presented as an extraordinary item. | |||||||||||||||||||
The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Group does not expect the adoption of this pronouncement to have a significant impact on its consolidated financial condition or results from operations. | |||||||||||||||||||
Note_3_Acquisitions
Note 3 - Acquisitions | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||
Business Combination Disclosure [Text Block] | (3) Acquisitions | ||||||||||||||||
Acquisitions in 2014 | |||||||||||||||||
In April 2014, the Group entered into agreements to acquire 100% equity interests in Nanjing Yukai Insurance Agency Co., Ltd. ("Nanjing") and Wenzhou Huilian Insurance Agency Co., Ltd ("Wenzhou") at the cash consideration of RMB27,000 and RMB16,000, respectively. | |||||||||||||||||
In April 2014, the Group also entered into an agreement to acquire the remaining 70% equity interests in Jiaxing Lianbao Insurance Agency Co., Ltd ("Jiaxing") at the cash consideration of RMB21,000. The fair value of 30% equity interests in Jiaxing previously held by the Group was remeasured to RMB9,000, hence the Group recognized gain from step acquisition of RMB8,812 at acquisition date. | |||||||||||||||||
The acquisitions of Nanjing, Wenzhou and Jiaxing were completed on May 1, 2014. Pursuant to the agreements, the selling shareholders of Nanjing, Wenzhou and Jiaxing agreed to return part of considerations to the Group, if the performance criteria of Nanjing, Wenzhou and Jiaxing for years 2014 to 2016 cannot be met. The fair value of such contingent arrangements approximates to zero at the acquisition date. As for the year ended December 31, 2014, Wenzhou has met the performance criteria but Nanjing and Jiaxing has failed to meet the performance criteria. The Group has issued waivers to the sellers of Nanjing and Jiaxing to release the return of considerations related to these two companies’ under-performance for fiscal 2014. | |||||||||||||||||
The following table summarizes the estimated fair values for major classes of assets acquired and liabilities assumed at the date of acquisition: | |||||||||||||||||
Nanjing | Wenzhou | Jiaxing | |||||||||||||||
RMB | RMB | RMB | |||||||||||||||
Net tangible assets (liabilities) acquired | (4,116 | ) | 2,708 | 3,670 | |||||||||||||
Intangible assets | 7,650 | 4,110 | 7,290 | ||||||||||||||
Goodwill | 23,850 | 10,209 | 20,862 | ||||||||||||||
Deferred tax assets | 1,529 | — | — | ||||||||||||||
Deferred tax liabilities | (1,913 | ) | (1,027 | ) | (1,822 | ) | |||||||||||
Total consideration | 27,000 | 16,000 | 30,000 | ||||||||||||||
The excess of purchase price over tangible assets and identifiable intangible assets acquired and liabilities assumed was recorded as goodwill. The goodwill of RMB54,921 arising from the acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the Group and the acquired companies. All of the goodwill was assigned to the Group’s agency segment. None of the goodwill recognized is expected to be deductible for income tax purposes. | |||||||||||||||||
The acquired intangible assets were composed of the following: | |||||||||||||||||
Useful life | Fair Value Acquired | ||||||||||||||||
RMB | |||||||||||||||||
(Years) | Nanjing | Wenzhou | Jiaxing | ||||||||||||||
Customer relationship | 6.7 | 4,840 | 2,920 | 4,630 | |||||||||||||
Non-compete agreement | 3 | 520 | 270 | 480 | |||||||||||||
Agency agreement | 6 | 2,290 | 920 | 2,180 | |||||||||||||
Total | 7,650 | 4,110 | 7,290 | ||||||||||||||
The weighted average amortization period of the intangible asset acquired is 6.3 years | |||||||||||||||||
The following unaudited pro forma information summarizes the effect of the acquisitions, as if the acquisitions had occurred as of January 1, 2013. This unaudited pro forma information is presented for information purposes only. It is based on historical information and does not purport to represent the actual results that may have occurred had the Group consummated the acquisitions on January 1, 2013, nor is it necessarily indicative of future results of operations of the consolidated enterprises: | |||||||||||||||||
Pro forma for year ended December 31, 2013 | |||||||||||||||||
Nanjing | Wenzhou | Jiaxing | |||||||||||||||
RMB | RMB | RMB | |||||||||||||||
(unaudited) | (unaudited) | (unaudited) | |||||||||||||||
Pro forma net revenues | 1,769,665 | 1,769,428 | 1,780,360 | ||||||||||||||
Pro forma income from operations | 16,561 | 17,531 | 16,348 | ||||||||||||||
Pro forma net income | 94,541 | 95,289 | 94,215 | ||||||||||||||
Pro forma net income per share | 0.09 | 0.1 | 0.09 | ||||||||||||||
Pro forma for year ended December 31, 2014 | |||||||||||||||||
Nanjing | Wenzhou | Jiaxing | |||||||||||||||
RMB | RMB | RMB | |||||||||||||||
(unaudited) | (unaudited) | (unaudited) | |||||||||||||||
Pro forma net revenues | 2,159,466 | 2,155,319 | 2,163,231 | ||||||||||||||
Pro forma income from operations | 30,612 | 30,840 | 31,355 | ||||||||||||||
Pro forma net income | 161,580 | 161,736 | 162,318 | ||||||||||||||
Pro forma net income per share | 0.16 | 0.16 | 0.16 | ||||||||||||||
The amounts of Nanjing, Wenzhou and Jiaxing’s net revenue and earnings included in the Group’s consolidated income statement from May 1, 2014 to December 31, 2014 are RMB19,060, RMB11,902 and RMB22,136, respectively and RMB2,323, RMB1,151 and RMB619, respectively. | |||||||||||||||||
Note_4_Other_Receivables
Note 4 - Other Receivables | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | (4) Other Receivables | ||||||||
Other receivables, net are analyzed as follows: | |||||||||
As of December 31, | |||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Advances to staff (i) | 9,494 | 8,159 | |||||||
Advances to entrepreneurial agents (ii) | 1,984 | 981 | |||||||
Rental deposits | 6,213 | 5,701 | |||||||
Interest income receivables (iii) | 47,273 | 46,472 | |||||||
Value-added tax recoverable (iv) | 1,867 | 2,786 | |||||||
Receivable from third parties(v) | 141,938 | 17,020 | |||||||
Reimbursement from insurance company (vi) | 40,106 | — | |||||||
Other | 5,901 | 7,030 | |||||||
254,776 | 88,149 | ||||||||
(i) | This represented advances to staff of the Group for daily business operations which are unsecured, interest-free and repayable on demand. | ||||||||
(ii) | This represented advances to entrepreneurial agents who provide services to the Group. The advances are used by agents to develop business. The advances were unsecured, interest-free and repayable on demand. | ||||||||
(iii) | This represented accrued interest income on bank deposits and interest bearing receivable from third parties as described in (v). | ||||||||
(iv) | As of December 31, 2013 and December 31, 2014, the amount represented value-added tax to be refunded from tax bureau. The amount of value-added tax outstanding as of December 31, 2013 had been refunded during the year 2014, and the amount as of December 31, 2014 had not been refunded up to report date. | ||||||||
(v) | Receivable from third parties mainly included receivables from two third parties: 1) receivable from Guangdong Jintaiping Asset Management Co. Ltd (“Jintaiping”). The Group held 19.5% equity interest of Jintaiping before December 2013. In December 2013, the Group disposed of the equity share of Jintaiping. Accordingly, receivable from Jintaiping was reclassified from amount due from related parties to other receivables. The loan receivable from Jintaiping is payable within one year and bears annual interest rate at 8%. As of December 31, 2014, the amount due from Jintaiping was 17,020 (2013: RMB130,651). The receivable were unsecured and repayable on demand; and 2) other receivable from third parties as of December 31, 2013 also included receivable from Shanghai Puyi Investment Consulting Co.,Ltd (“Shanghai Puyi”). On December 2, 2013, the Group signed an equity transfer agreement to sell its 19.5% shareholdings of Jintaiping to Shanghai Puyi at a consideration of RMB7,987, which should be settled within 30 days after the legal registration of equity transfer and had been settled in 2014. | ||||||||
(vi) | On April 23, 2014, the company has signed a settlement agreement with an insurance company. Please refer to note 16 (iii) for details. The legal case has been settled in August 2014. | ||||||||
Note_5_Property_Plant_and_Equi
Note 5 - Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | (5) Property, Plant and Equipment | ||||||||
Property, plant and equipment, net, is comprised of the following: | |||||||||
As of December 31, | |||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Building | 11,346 | 12,317 | |||||||
Office equipment, furniture and fixtures | 127,849 | 127,498 | |||||||
Motor vehicles | 40,039 | 35,229 | |||||||
Leasehold improvements | 9,033 | 10,817 | |||||||
Total | 188,267 | 185,861 | |||||||
Less: Accumulated depreciation | (118,705 | ) | (138,690 | ) | |||||
Property, plant and equipment, net | 69,562 | 47,171 | |||||||
No impairment for property, plant and equipment was recorded for the years ended December 31, 2012, 2013 and 2014. | |||||||||
Note_6_Goodwill
Note 6 - Goodwill | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||
Goodwill Disclosure [Text Block] | (6) Goodwill | ||||||||||||
The movements in carrying amount of goodwill by reportable segments are as follows: | |||||||||||||
Goodwill of the P&C and Life insurance operating segments as of December 31, 2012 and 2013 has been grouped together under the agency segment due to the Group's realignment of its financial reporting structure in 2014 (see note 2(w)). | |||||||||||||
Agency | |||||||||||||
segment | |||||||||||||
RMB | |||||||||||||
Balance as of January 1, 2013 & 2014 | 78,553 | ||||||||||||
Addition for acquisitions in 2014 | 54,921 | ||||||||||||
Balance as of December 31, 2014 | 133,474 | ||||||||||||
The gross amount and accumulated impairment losses by segment as of December 31, 2013 and 2014 are as follows: | |||||||||||||
Agency | Claims Adjusting segment | Total | |||||||||||
segment | |||||||||||||
RMB | RMB | RMB | |||||||||||
Goodwill, gross as of January 1, 2013 | 1,041,181 | 38,077 | 1,079,258 | ||||||||||
Accumulated impairment loss | (962,628 | ) | (38,077 | ) | (1,000,705 | ) | |||||||
Goodwill, net as of December 31, 2013 | 78,553 | — | 78,553 | ||||||||||
Goodwill, gross as of January 1, 2014 | 1,096,102 | 38,077 | 1,134,179 | ||||||||||
Accumulated impairment loss | (962,628 | ) | (38,077 | ) | (1,000,705 | ) | |||||||
Goodwill, net as of December 31, 2014 | 133,474 | — | 133,474 | ||||||||||
The Group performed the annual impairment analysis as of the balance sheet date. There has been no impairment loss recognized in goodwill for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||
Note_7_Investment_in_Affiliate
Note 7 - Investment in Affiliates | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||
Equity Method Investments and Joint Ventures Disclosure [Text Block] | (7) Investment in Affiliates | ||||||||||||
As of December 31, 2013, investments in affiliates represent (i) 40% equity interest in Shanghai Teamhead Automobile Surveyors Co., Ltd. ("Teamhead Automobile") which is a PRC registered company that provides insurance surveyor and loss adjustors services, (ii) 30% equity interest in Jiaxing which is a PRC registered company that distributes property and casualty insurance products and (iii) 20.6% equity interest in Sincere Fame International Limited ("Sincere Fame") which is a BVI company that is a financial services company, primarily engages in the origination and management of small loans made to individuals, loan repackaging transaction, asset management-related services to financial institutions and mortgage agency services to individuals based in Guangzhou, PRC. | |||||||||||||
During the year of 2014, the Group acquired the remaining 70% equity interest in Jiaxing and become 100% owner of Jiaxing. Hence Jiaxing is derecognized from investment in affiliates. | |||||||||||||
During the years ended December 31, 2012, 2013 and 2014, the Group recognized its share of income of affiliates in the amount of RMB14,658, RMB20,621 and RMB30,649 respectively. | |||||||||||||
Investment as of December 31, 2013 and 2014 were as follows: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Teamhead Automobile | 473 | 498 | |||||||||||
Jiaxing | 192 | — | |||||||||||
Sincere Fame | 188,576 | 219,205 | |||||||||||
Total | 189,241 | 219,703 | |||||||||||
The summarized financial information of equity method investees is illustrated as below: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Balance sheet | |||||||||||||
Current assets | 641,314 | 364,045 | |||||||||||
Non-current assets | 556,067 | 1,335,315 | |||||||||||
Current liabilities | 582,734 | 929,731 | |||||||||||
Non-current liabilities | 1,057 | 2,904 | |||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
Results of operation | RMB | RMB | RMB | ||||||||||
Net Revenues | 328,385 | 365,521 | 403,908 | ||||||||||
Gross profit | 240,644 | 295,954 | 346,688 | ||||||||||
Income from operations | 89,963 | 139,211 | 184,531 | ||||||||||
Net profit | 73,869 | 116,674 | 148,891 | ||||||||||
Note_8_Variable_Interest_Entit
Note 8 - Variable Interest Entities | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Variable Interest Entities Disclosure [Abstract] | |||||||||||||
Variable Interest Entities Disclosure [Text Block] | (8) Variable Interest Entities | ||||||||||||
Historically, PRC laws and regulations place certain restrictions on foreign investment in and ownership of insurance agencies and brokerages. As a Cayman Islands corporation, the Company is deemed a foreign legal person under PRC laws. Accordingly, the Group had conducted its business in China through contractual arrangements. | |||||||||||||
In recent years, some rules and regulations governing the insurance intermediary sector in China have begun to encourage foreign investment. The Group has commenced a restructuring which has resulted in obtaining controlling equity ownership in a majority of its affiliated insurance intermediary companies. However, there remains uncertainty regarding the interpretation and implementation of the relevant regulations and the timing of the restructuring process. In addition, restrictions by PRC laws and regulations on foreign investments in and ownership of internet businesses still exists and the Group is still in the process to complete its restructuring plan. Therefore, the Group still conducts part of its operations in China through contractual arrangements among its PRC subsidiaries and consolidated affiliated entities, Sichuan Yihe Investment Co., Ltd. ("Yihe Investment") and Shenzhen Xinbao Investment Management Co., Ltd. ("Xinbao Investment") and Shenzhen Dianliang Information Technology Co., Ltd ("Dianliang Information") (collectively referred as the "Three PRC Affiliated Entities") and the equity holders of the Three PRC Affiliated Entities who are PRC nationals. To provide the Company effective control over the Three PRC Affiliated Entities, and the ability to receive substantially all of the economic benefits of the Three PRC Affiliated Entities and their subsidiaries, a series of contractual arrangements were entered amongst CNinsure Xinlian Information Technology Consulting (Shenzhen) Co., Ltd. ("Xinlian Information"), CNinsure Zhonglian Enterprise Image Planning (Shenzhen) Co., Ltd. ("Zhonglian Enterprise"), Litian Zhuoyue Software (Beijing) Co., Ltd ("Litian") and Ying Si Kang Information Technology (Shenzhen) Co., Ltd. ("Ying Si Kang Information"), which are PRC subsidiaries of the Company, and the Three PRC Affiliated Entities and their direct equity holders, refer to as the "VIE arrangements". | |||||||||||||
Agreements that provide the Group effective control over the Three PRC Affiliated Entities | |||||||||||||
Loan Agreements | |||||||||||||
Each of the equity holders of Yihe Investment entered into loan agreements with Xinlian Information, evidencing a zero interest loan granted to them, equal to their respective capital contributions to Yihe Investment. The term of the loan agreement is ten years and may be extended upon written agreement of the parties, but it is not extended automatically. In the event that the loan is not renewed, then upon the expiration of its term and subject to then applicable PRC laws, the loan can be repaid only with the proceeds from the transfer of the individual shareholder’s equity interests in Yihe Investment to Xinlian Information or another person designated by Xinlian Information. In addition, the loan agreements contain a number of covenants that restrict the actions the individual shareholder can take or cause Yihe Investment to take specific actions. | |||||||||||||
Each of the individual shareholders of Xinbao Investment entered into a loan agreement with the Group’s subsidiary Ying Si Kang Information, evidencing a zero interest loan granted to them, equal to their respective capital contributions to Xinbao Investment. Since Ying Si Kang is transferred to Litian during the year, each of the individual shareholders of Xinbao Investment has been released from the agreement with Ying Si Kang and entered into a new loan agreement with another Group’s subsidiary Bao Si Kang Information Technology (Shenzhen) Co., Ltd. ("Bao Si Kang Information"). The terms of the loan agreement are substantially similar to those in the loan agreements of Yihe Investment described above. | |||||||||||||
The individual shareholder of Dianliang Information entered into a loan agreement with the Group’s subsidiary Xinlian Information. The terms of the loan agreement are substantially similar to those in the loan agreements of Yihe Investment described above. | |||||||||||||
Equity Pledge Agreements | |||||||||||||
Pursuant to the equity pledge agreements between (1) Yihe Investment, Xinlian Information and the equity holders of Yihe Investment; and (2) Xinbao Investment, Ying Si Kang Information, and from the later year of 2014 Bao Si Kang Information and the equity holders of Xinbao Investment; and (3) Dianliang Information, Xinlian Information and the equity holder of Dianliang Information, the equity holders of the Three PRC Affiliated Entities have pledged their equity interests in the Three PRC Affiliated Entities to Xinlian Information and Ying Si Kang Information (later year of 2014 to Bao Si Kang Information) to secure their obligations under the loan agreements between (1) Yihe Investment and Xinlian Information; and (2) Xinbao Investment and Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information); (3) Dianliang Information and Xinlian Information. During the term of the equity pledge agreements, Xinlian Information and Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information) are entitled to all the dividends declared on the pledged equity interests. The equity pledge agreements will expire when the individual shareholder fully performed his obligations under the loan agreements. | |||||||||||||
Irrevocable Power of attorney | |||||||||||||
Pursuant to the power of attorney, the nominee equity holders of the Three PRC Affiliated Entities each executed an irrevocable power of attorney, appointing a person designated by Xinlian Information or Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information) as their attorney-in-fact to vote on their behalf on all matters of the Three PRC Affiliated Entities requiring equity holder approval. If Xinlian Information or Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information) designates the individual shareholders of the Three PRC Affiliated Entities to attend a shareholder’s meeting of the Three PRC Affiliated Entities, the individual shareholder agrees to vote his shares as instructed by Xinlian Information or Ying Si Kang information (later year of 2014 replaced with Bao Si Kang Information). | |||||||||||||
The Articles of Association of the Three PRC Affiliated Entities state that the major rights of the equity holders include the power to review and approve annual budget, operating strategy and investment plan, elect the members of board of directors and approve their compensation plan. Therefore, through the power of attorney arrangement, Xinlian Information and Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information) have the ability to exercise effective control over the Three PRC Affiliated Entities through equity holder votes and, through such votes, to also control the composition of the board of directors. In addition, the senior management teams of the Three PRC Affiliated Entities are the same as that of Xinlian Information and Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information). | |||||||||||||
Agreements that provide the Group the option to purchase the equity interests in the Three PRC Affiliated Entities | |||||||||||||
Exclusive Purchase Option Agreements | |||||||||||||
Pursuant to the exclusive purchase right agreements, Xinlian Information and Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information) may purchase the entire equity interests in, or all the assets of the Three PRC Affiliated Entities, for a purchase price equal to the amount of the individual shareholder’s actual capital contributions to the Three PRC Affiliated Entities or the minimum price permitted by PRC laws, if and when PRC laws are amended to permit such a transaction. | |||||||||||||
Agreements that transfer economic benefits to Xinlian Information, Zhonglian Enterprise, and Litian | |||||||||||||
IT platform related service, consulting service and technology service agreements | |||||||||||||
Pursuant to IT platform service, technology service and consulting service agreements entered into between the Group’s PRC subsidiaries Litian, Xilian Information, Zhonglian Enterprise (collectively referred as the "Three Service Providers") and Ying Si Kang Information and most of the subsidiaries of the Three PRC Affiliated Entities, the Three Service Providers and Ying Si Kang Information agreed to grant rights to use the "CNinsure" brand and provide consulting and training services related to finance, taxation, IT platform and internal control compliance and services to ensure the normal operation of the mobile sales support system to most of subsidiaries of the Three PRC Affiliated Entities in exchange for fees payable quarterly calculated as a percentage of revenues of each insurance intermediary. Each of these agreements has an initial term of one year from the signing date. The consulting service and IT platform service agreements will be automatically renewed for one-year term unless the three Service Providers decides not to renew the agreement. Each agreement may be terminated by the insurance intermediary companies only upon gross negligence, fraud, other illegal conduct or bankruptcy, or by the Three Service Providers with 30 days’ notice. The consulting service and IT platform service agreements have not been renewed since 2013. | |||||||||||||
These contractual arrangements allow the Group to effectively control the Three PRC Affiliated Entities and their subsidiaries, and to derive substantially all of the economic benefits from them. Accordingly, the Group treats the Three PRC Affiliated Entities as VIEs and because the Group is the primary beneficiary of the Three PRC Affiliated Entities, the Group has consolidated the financial results of the Three PRC Affiliated Entities and their subsidiaries. | |||||||||||||
In addition to the above agreements, which allow the Group to exercise effective control, have an exclusive option to purchase all or part of the equity interests and receive a substantial portion of the economic benefits from the Three PRC Affiliated Entities and their subsidiaries, before January 2015, the Group had also entered into similar contractual arrangements with the non-controlling interest shareholders of Guangdong Meidiya Investment Co., Ltd. ("Meidiya Investments"). As a result of these contractual arrangements, the Company has the right to exercise control over, purchase and receive the economic benefits from all of the equity interests in Meidiya Investments that it did not directly hold. In January 2015, the individual minority shareholders of Meidiya Investment transferred their respective equity interests in Meidiya Investment to CNinsure Insurance Sales Service Group Company Limited, a wholly-owned subsidiary of the Group. In addition, the contractual arrangements among Meidiya Investment, and their respective shareholders and subsidiaries were terminated. | |||||||||||||
Risks in relation to VIE Arrangement | |||||||||||||
The Company believes that the contractual arrangements with PRC Affiliated Entities and their subsidiaries and their current shareholders are in compliance with PRC laws and regulations and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce the contractual arrangements. If the legal structure and contractual arrangements were found to be in violation of PRC laws and regulations, the PRC government could: | |||||||||||||
· | revoking the business and operating licenses of the Group's PRC subsidiaries and VIEs; | ||||||||||||
· | restricting or prohibiting any related-party transactions among the Group's PRC subsidiaries and VIEs; | ||||||||||||
· | imposing fines or other requirements with which the Group may not be able to comply; | ||||||||||||
· | requiring the Group to restructure the relevant ownership structure or operations; or | ||||||||||||
· | restricting or prohibiting the Group from providing additional funding for its business and operations in China. | ||||||||||||
The Company's ability to conduct its business may be negatively affected if the PRC government were to carry out any of the aforementioned actions. As a result, the Company may not be able to consolidate the VIEs and their subsidiaries in its financial statements as it may lose the ability to exert effective control over the VIEs and their subsidiaries and its shareholders, and it may lose the ability to receive economic benefits from the VIEs and their subsidiaries. | |||||||||||||
The interests of the shareholders of the PRC Affiliated Entities may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms, for example by influencing the PRC Affiliated Entities not to pay the service fees when required to do so. The Company cannot assure that when conflicts of interest arise, shareholders of the PRC Affiliated Entities will act in the best interests of the Company or that conflicts of interests will be resolved in the Company’s favor. Currently, the Company does not have existing arrangements to address potential conflicts of interest the shareholders of PRC Affiliated Entities may encounter in their capacity as beneficial owners and directors of PRC Affiliated Entities, on the one hand, and as beneficial owners and directors of the Company, on the other hand. The Company believes the shareholders of PRC Affiliated Entities will not act contrary to any of the contractual arrangements and the exclusive option agreements provide the Company with a mechanism to remove the current shareholders of PRC Affiliated Entities should they act to the detriment of the Company. The Company relies on certain current shareholders of PRC Affiliated Entities, as directors and executive officers of the Company, to fulfill their fiduciary duties and abide by laws of the PRC and Cayman Islands and act in the best interest of the Company. If the Company cannot resolve any conflicts of interest or disputes between the Company and the shareholders of PRC Affiliated Entities, the Company would have to rely on legal proceedings, which could result in disruption of its business, and there is substantial uncertainty as to the outcome of any such legal proceedings. | |||||||||||||
The VIEs are principally engaged in the provision of agency and e-business in the PRC. | |||||||||||||
Relevant PRC laws and regulations restrict the VIE from transferring a portion of its net assets, equivalent to the balance of its statutory reserve and its share capital, to the Company in the form of loans and advances or cash dividends. Please refer to Note 20 for disclosure of restricted net assets. | |||||||||||||
The financial information of the Company’s VIEs and VIEs' subsidiaries as of December 31, 2013 and 2014 and for the years ended December 31, 2012, 2013 and 2014, before adjustments for intercompany eliminations, is as follows: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Total assets | 114,232 | 63,090 | |||||||||||
Total liabilities | 110,133 | 38,716 | |||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Net Revenues | 374,529 | 125,961 | 72,645 | ||||||||||
Net loss | (4,755 | ) | (3,767 | ) | (9,636 | ) | |||||||
Net cash used in operating activities | (34,601 | ) | (13,500 | ) | (49,782 | ) | |||||||
Net cash generated from investing activities | 81,593 | 12,041 | 14,709 | ||||||||||
Net cash (used in) generated from financing activities | (38,305 | ) | — | 33,370 | |||||||||
In order to simplify the Group’s corporate structure to enable more effective control over the PRC affiliated subsidiaries, the Group commenced a corporate restructuring onshore and offshore in October 2011. | |||||||||||||
In August 2011, CISG Holdings Ltd. ("CISG Holdings"), a wholly-owned subsidiary of the Company, acquired Minkfair Insurance Management Limited ("Minkfair"), a Hong Kong incorporated company whose principal business is insurance distribution in Hong Kong, for a total consideration of HK$1,200. Subsequently, CNinsure Holdings Ltd. ("CNinsure Holdings"), a wholly-owned subsidiary of CISG Holdings, issued 1,000 of its shares with par value of US$0.001 to Minkfair. At the same time, CNinsure Holdings repurchased from CISG Holdings one issued and fully paid ordinary share of par value US$0.001 of CISG Holdings for a total consideration of US$0.001. As a result of these transactions, Minkfair directly owns 100% of the equity interests in CNinsure Holdings. | |||||||||||||
In February 2012, CNinsure Group Company, subscribed for a share capital of RMB52,500 in Meidiya. As a result, CNinsure Group Company’s shareholdings in Meidiya increased from 20% to 90%, and the equity holders' shareholdings in Meidiya decreased to 10%. Subsequently in 2015, the Group has purchased the remaining equity share of the two nominee equity shareholders of Meidiya Investment. | |||||||||||||
In October 2012, the Group obtained license approval from the CIRC to establish CNinsure Group Company as an insurance sales service group company. | |||||||||||||
Ying Si Kang Information withdrew all its capital contribution at cost of RMB2,000 in Xinbao Investment in December 2012. After the transaction, the two nominee equity shareholders collectively hold 100% equity interests in Xinbao Investment. | |||||||||||||
On various dates since May 2012, Meidiya and Yihe Investment transferred their equity interests in five of the Group’s affiliated subsidiaries, including CNinsure Lianxing Insurance Sales Co., Ltd. ("CNinsure Lianxing") and CNinsure Times Insurance Sales & Service Co., Ltd., (or CNinsure Times, formerly known as Guangzhou Fanhua Insurance Agency Co., Ltd.) to CNinsure Group Company, Meidiya and Yihe have also transferred their equity interests in 19 of our affiliated entities to CNinsure Lianxing and CNinsure Times. | |||||||||||||
On July 1, 2013, Xinbao Investment transferred its equity interests in six of the Group’s affiliated subsidiaries to CNinsure Times. | |||||||||||||
As a result of these equity transfers, the Group through contractual arrangements with Yihe Investment, Dianliang Information and Xinbao Investment, it controls the remaining seven VIEs as of December 31, 2013 and 2014. | |||||||||||||
Note_9_Other_Payables_and_Accr
Note 9 - Other Payables and Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | (9) Other Payables and Accrued Expenses | ||||||||
Components of other payables and accrued expenses are as follows: | |||||||||
As of December 31, | |||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Business and other tax payable | 28,313 | 24,987 | |||||||
Refundable deposits from employees and agents | 12,452 | 9,705 | |||||||
Professional fees | 11,818 | 17,340 | |||||||
Advances from third parties | 22,490 | 32,219 | |||||||
Payables for addition of office equipment, furniture and fixtures | 8,618 | 8,618 | |||||||
Insurance compensation claim payable to customers | 1,487 | 1,563 | |||||||
Payable for equity transfers of investment in affiliates/subsidiaries | 15,006 | 4,685 | |||||||
Consideration payable to settle the lawsuit (i) | 40,106 | — | |||||||
Contributions from members of eHuzhu mutual aid program | — | 2,341 | |||||||
Others | 7,664 | 7,954 | |||||||
Total | 147,954 | 109,412 | |||||||
Other payables and accrued expenses are unsecured, interest-free and repayable on demand. | |||||||||
(i) | On March 19, 2014, the Company signed a settlement agreement with the plaintiff to settle the lawsuit at US$6,625 (approximately RMB40,106) and the lawsuit has been fully settled in August 2014. Please refer to note (16) (iii) for details of the lawsuit. | ||||||||
Note_10_Employee_Benefit_Plans
Note 10 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | (10) Employee Benefit Plans |
Employees of the Group located in the PRC are covered by the retirement schemes defined by local practice and regulations, which are essentially defined contribution plans. The calculation of contributions for these eligible employees is based on 10% to 22% of the applicable payroll cost according to the specific requirements of the local regime government. | |
In addition, the Group is required by law to contribute certain percentage of applicable salaries for medical insurance benefits, unemployment and other statutory benefits. The contribution percentages may different from district to district which is subject to the specific requirement of local regime government. The PRC government is directly responsible for the payments of the benefits to these employees. | |
For the years ended December 31, 2012, 2013 and 2014, the Group contributed RMB34,931, RMB42,919 and RMB45,467, respectively. | |
Note_11_Income_Taxes
Note 11 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | (11) Income Taxes | ||||||||||||
The Company is a tax exempted company incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to tax on their income or capital gains. In addition, upon any payments of dividends by the Group to its shareholders, no Cayman Islands withholding tax is imposed. | |||||||||||||
The Group’s subsidiaries and VIEs incorporated in PRC are subject to Income Tax in the PRC. | |||||||||||||
The provision for current income taxes of the subsidiaries operating in Hong Kong has been calculated by applying the current rate of taxation of 16.5% for the years ended December 31, 2012, 2013 and 2014, if applicable. | |||||||||||||
On March 16, 2007, the PRC promulgated New Enterprise Income Tax Law (the "New Taxation Law"). The New Taxation Law which becomes effective from January 1, 2008. Under the New Taxation Law, all enterprises (both domestic enterprises and FIEs) have one unified income tax rate of 25%. On December 6, 2007, the State Council of the PRC issued Implementation Regulations on the New Taxation Law. The New Taxation Law and Implementation Regulations have changed the tax rate from 15% to 18%, 20%, 22%, 24% and 25% for the years ending December 31, 2008, 2009, 2010, 2011 and 2012, respectively, for Shenzhen PRC subsidiaries. | |||||||||||||
Pursuant to the relevant laws and regulations in the PRC, Litian, Shenzhen CNinsure Software Technology Co., Ltd ("CNinsure Software") and Ying Si Kang Information, the subsidiaries of the Group, were regarded as software companies and thus exempted from PRC Income Tax for two years starting from its first profit-making year, followed by a 50% reduction for the next three years. For Litian, year 2010 was the first profit-making year and accordingly, Litian has not made any provision for PRC income tax for the year ended December 31, 2010 and 2011, and has made a 12.5% tax provision for its profits for the years ended December 31, 2012, 2013 and 2014. For CNinsure Software, year 2012 was the first profit-making year and accordingly, CNinsure Software has not made any provision for PRC income tax for the years ended December 31, 2012 and 2013, and has made a 12.5% tax provision for its profits for the year ended December 31, 2014. For Ying Si Kang Information, year 2014 is the first profit-making year and accordingly it has not made any provision for PRC income tax for the year ended December 31, 2014. | |||||||||||||
The Group accounts for uncertain income tax positions by prescribing a minimum recognition threshold in the financial statements. | |||||||||||||
As of December 31, 2014, the Group’s liabilities for unrecognized tax benefits were included in other tax liabilities. The movements of unrecognized tax benefits are as follows: | |||||||||||||
RMB | |||||||||||||
Balance as of January 1, 2012 | 43,586 | ||||||||||||
Gross increase in prior-period tax positions | 4,003 | ||||||||||||
Balance as of December 31, 2012 | 47,589 | ||||||||||||
Gross increase in prior-period tax positions | 3,146 | ||||||||||||
Balance as of December 31, 2013 | 50,735 | ||||||||||||
Offset per FASB ASU No. 2013-11—Income Taxes (Topic 740) | (4,808 | ) | |||||||||||
Gross increase in prior-period tax positions | 7,928 | ||||||||||||
Balance as of December 31, 2014 | 53,855 | ||||||||||||
The uncertain tax positions are related to tax years that remain subject to examination by the relevant tax authorities. Based on the outcome of any future examinations, or as a result of the expiration of statute of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized tax benefits for tax positions taken regarding previously filed tax returns, might materially change from those recorded as liabilities for uncertain tax positions in the Group’s consolidated financial statements as of December 31, 2013 and 2014. In addition, the outcome of these examinations may impact the valuation of certain deferred tax assets (such as net operating losses) in future periods. The Group’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits, if any, as a component of income tax expense. The Company does not anticipate any significant increases or decreases to its liability for unrecognized tax benefit within the next twelve months. | |||||||||||||
According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of income taxes is due to computational errors made by the taxpayer. The statute of limitations will be extended to five years under special circumstances, which are not clearly defined, but an underpayment of income tax liability exceeding RMB100 is specifically listed as a special circumstance. In the case of a transfer pricing related adjustment, the statute of limitations is ten years. There is no statute of limitations in the case of tax evasion. | |||||||||||||
Income tax expenses are comprised of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Current tax expense | 56,467 | 29,436 | 25,607 | ||||||||||
Deferred tax income | (6,094 | ) | (2,278 | ) | (1,318 | ) | |||||||
Income tax expense | 50,373 | 27,158 | 24,289 | ||||||||||
The principal components of the deferred income tax assets and liabilities are as follows: | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Current deferred tax assets: | |||||||||||||
Operating loss carryforward | 4,858 | 4,313 | |||||||||||
Less: valuation allowances | — | (4,313 | ) | ||||||||||
Current deferred tax asset, net | 4,858 | — | |||||||||||
Non-current deferred tax assets: | |||||||||||||
Operating loss carryforward | 36,053 | 33,930 | |||||||||||
Less: valuation allowances | (32,671 | ) | (31,292 | ) | |||||||||
Non-current deferred tax asset, net | 3,382 | 2,638 | |||||||||||
Total | 8,240 | 2,638 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangible assets, net | 5,646 | 6,769 | |||||||||||
Investment income | 18,162 | 18,162 | |||||||||||
Total | 23,808 | 24,931 | |||||||||||
Due to the uncertainty of the level of PRC subsidiaries or VIEs’ taxable income, management does not believe certain subsidiaries or VIEs will generate sufficient taxable income such that it is more likely than not that the deferred tax assets will not be realized. As such, a valuation allowance has been established for these deferred tax assets as of December 31, 2013 and 2014. The Group had total operating loss carry-forwards of RMB164,108 and RMB166,557 for the years ended December 31, 2013 and 2014, respectively. Such operating loss carry-forwards expire five years after the PRC subsidiaries or VIEs incur the loss unless utilized. As of December 31, 2014, the operating loss carry-forwards of RMB10,086, RMB30,860, RMB32,400, RMB40,546 and RMB52,665 is to expire for the years ended December 31, 2015, 2016, 2017, 2018 and 2019, respectively. | |||||||||||||
Reconciliation between the provision for income taxes computed by applying the PRC enterprise income rate of 25% to net income before income taxes and income of affiliates, and the actual provision for income taxes is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Net income before income taxes and income of affiliates and discontinued operations | 160,452 | 106,521 | 159,720 | ||||||||||
PRC statutory tax rate | 25 | % | 25 | % | 25 | % | |||||||
Income tax at statutory tax rate | 40,113 | 26,630 | 39,930 | ||||||||||
Expenses not deductible for tax purposes: | |||||||||||||
Entertainment | 668 | 494 | 579 | ||||||||||
Other | 3,312 | 1,635 | 1,664 | ||||||||||
Tax exemption and tax relief: | |||||||||||||
Tax rate differential | (3,947 | ) | (16,347 | ) | (29,497 | ) | |||||||
Change in valuation allowance | 5,003 | 13,812 | 2,934 | ||||||||||
Uncertain tax provisions | 4,003 | 3,148 | 7,928 | ||||||||||
Other | 1,221 | (2,214 | ) | 751 | |||||||||
Income tax expense | 50,373 | 27,158 | 24,289 | ||||||||||
Additional PRC income taxes that would have been payable without the tax exemption amounted to approximately RMB26,784, RMB19,364 and RMB17,054 for the years ended December 31, 2012, 2013 and 2014, respectively. Without such exemption, the Group’s basic and diluted net profit per share for the year ended December 31, 2014 would have been decreased by RMB0.02. | |||||||||||||
Under the New Taxation Law, enterprises are classified as either resident or non-resident. A resident enterprise refers to one that is incorporated under the PRC law or under the law of a jurisdiction outside the PRC with its "de facto management organization" located within the PRC. Non-resident enterprise refers to one that is incorporated under the law of a jurisdiction outside the PRC with its "de facto management organization" located also outside the PRC, but which has either set up institutions or establishments in the PRC or has income originating from the PRC without setting up any institution or establishment in the PRC. Under the New Enterprise Income Tax ("EIT") Implementation Regulation, "de facto management organization" is defined as the organization of an enterprise through which substantial and comprehensive management and control over the business, operations, personnel, accounting and properties of the enterprise are exercised. Under the New Taxation Law and the New EIT Implementation Regulation, a resident enterprise’s global net income will be subject to a 25% EIT rate. On April 22, 2009, the State Administration of Taxation (the "SAT"), issued SAT Circular 82, which provides certain specific criteria for determining whether the "de facto management body" of a PRC-controlled enterprise that is incorporated offshore is located in China. In addition, the SAT issued a bulletin on July 27, 2012 providing more guidance on the implementation of Circular 82 and clarifies matters such as resident status determination. Due to the present uncertainties resulting from the limited PRC tax guidance on this issue, it is unclear that the legal entities organized outside of PRC should be treated as residents for New Taxation Law purposes. Nevertheless, even if one or more of those entities were characterized as PRC tax residents, no significant impact would be expected on the net current tax payable balance and the net deferred tax balance. | |||||||||||||
If the entities were to be non-resident for PRC tax purpose, dividends paid to it out of profits earned after January 1, 2008 would be subject to a withholding tax. In the case of dividends paid by PRC subsidiaries the withholding tax would be 10% whereas in the case of dividends paid by PRC subsidiaries which are 25% or more directly owned by tax residents in the Hong Kong SAR, the withholding tax would be 5%. | |||||||||||||
Aggregate undistributed earnings of the Group’s subsidiaries and VIEs in the PRC that are available for distribution to the Group of approximately RMB1,882,224 and RMB1,967,287 as of December 31, 2013 and 2014 respectively, are considered to be indefinitely reinvested, and accordingly, no provision for has been made for the dividend withholding taxes that would be payable upon the distribution of those amounts to the Group. If those earnings were to be distributed or they were determined to be no longer permanently reinvested, the Group would have to record a deferred tax liability in respect of those undistributed earnings of approximately RMB188,222 and RMB196,729 respectively. | |||||||||||||
Under applicable accounting principles, a deferred tax liability should be recorded for taxable temporary differences attributable to the excess of financial reporting over tax basis, including those differences attributable to a more than 50% interest in a domestic subsidiary. However, recognition is not required in situations where the tax law provides a means by which the reported amount of that investment can be recovered tax-free and the enterprise expects that it will ultimately use that means. The Group has not recorded any such deferred tax liability attributable to the undistributed earnings of its financial interest in VIE affiliates because the Group believes such excess earnings can be distributed in a manner that would not be subject to tax. | |||||||||||||
Note_12_Capital_Structure
Note 12 - Capital Structure | 12 Months Ended |
Dec. 31, 2014 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | (12) Capital Structure |
During 2012, the Company issued 183,380 new shares for the exercise of options, representing 0.01% of the total shares outstanding as of December 31, 2012. | |
During 2012, the Company had repurchased 193,165 ADS (equal to 3,863,300 ordinary shares), representing 0.38% of the total shares outstanding as of December 31, 2012, for an aggregate price of approximately RMB9,244 on the open market. | |
During 2014, the Company issued 1,704,380 new shares for the exercise of options, representing 0.15% of the total shares outstanding as of December 31, 2014. | |
In November 2014, the Group entered into share purchase agreements with the Employee Companies, for the issuance of up to 100,000,000 ordinary shares of the Group. In December 2014, the Group increased the new shares issued to the Employee Companies to 150,000,000 ordinary shares. The total 150,000,000 ordinary shares represented approximately 13.04% of the total enlarged outstanding share capital as of December 31, 2014. The subscription price for the 100,000,000 ordinary shares is US$0.27 per ordinary share or US$5.40 per ADS, while the subscription price for the additional 50,000,000 ordinary shares is US$0.29 per ordinary share or US$5.8 per ADS, both of which were the average closing prices for the 20 trading days prior to the board approvals of such transactions. Accordingly, the Group considers that the employees have subscribed these shares at prices that were set at the best estimation of the future market prices on issuance date, and the Group has no intention to compensate the employees with a below market price subscription; therefore, the Group has not recorded any share-based compensation expenses related to any price deviations of the Group’s ordinary shares from the board approval dates to issuances of these shares. The shares purchased by the Employee Companies are subject to 180 days lock-up. The sale of shares to the Employee Companies was completed on December 17, 2014. | |
In order to facilitate the purchase of shares by employees as described above, the Group has granted a loan to Employee Companies. The loans bear interest at a rate of 3% per annum and is repayable upon the sale of the shares by employees, termination of employment or within two years, whichever comes first. The interest rate is determined with reference to fair market prices and therefore no interest-related compensation expense is recorded. Please refer to note 2(m) for accounting policy details. | |
Note_13_Net_Income_Loss_Per_Sh
Note 13 - Net Income (Loss) Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | (13) Net Income per Share | ||||||||||||
The computation of basic and diluted net income per ordinary share is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Basic: | |||||||||||||
Net income | 124,737 | 99,984 | 166,080 | ||||||||||
Less: Net (loss) income attributable to the noncontrolling interests | (5,773 | ) | 4,341 | 4,320 | |||||||||
Net income attributable to the Company’s shareholders | 130,510 | 95,643 | 161,760 | ||||||||||
Weighted average number of ordinary shares outstanding | 1,002,308,275 | 998,861,526 | 1,005,842,212 | ||||||||||
Basic net income per ordinary share | 0.13 | 0.1 | 0.16 | ||||||||||
Basic net income per ADS | 2.6 | 1.92 | 3.22 | ||||||||||
Diluted: | |||||||||||||
Net income | 124,737 | 99,984 | 166,080 | ||||||||||
Less: Net (loss) income attributable to the noncontrolling interests | (5,773 | ) | 4,341 | 4,320 | |||||||||
Net income attributable to the Company’s shareholders | 130,510 | 95,643 | 161,760 | ||||||||||
Weighted average number of ordinary shares outstanding | 1,002,308,275 | 998,861,526 | 1,005,842,212 | ||||||||||
Share options | 2,993,694 | 1,708,492 | 6,749,175 | ||||||||||
Total | 1,005,301,969 | 1,000,570,018 | 1,012,591,387 | ||||||||||
Diluted net income per ordinary share | 0.13 | 0.1 | 0.16 | ||||||||||
Diluted net income per ADS | 2.6 | 1.91 | 3.19 | ||||||||||
During the years ended December 31, 2012, 2013 and 2014, the Company had share options of which would potentially dilute earnings per share in the future, but which were excluded from the computation of diluted earnings per share as their effect would have been antidilutive, such share options consist of 46,225,381, 38,222,880 and 16,920, respectively. | |||||||||||||
Note_14_Distribution_of_Profit
Note 14 - Distribution of Profits | 12 Months Ended |
Dec. 31, 2014 | |
Distribution Of Profits Disclosure [Abstract] | |
Distribution Of Profits Disclosure [Text Block] | (14) Distribution of Profits |
As stipulated by the relevant PRC laws and regulations applicable to China’s foreign investment enterprise, the Group’s subsidiaries and VIEs in the PRC are required to maintain non-distributable reserves which include a statutory surplus reserve as of December 31, 2014. Appropriations to the statutory surplus reserve are required to be made at not less than 10% of individual company’s net profit as reported in the PRC statutory financial statements of the Company’s subsidiaries and VIEs. The appropriations to statutory surplus reserve are required until the balance reaches 50% of the registered capital of respective subsidiaries and VIEs. | |
The statutory surplus reserve is used to offset future losses. These reserves represent appropriations of retained earnings determined according to PRC law and may not be distributed. There are no appropriations to reserves by the Company other than the Group’s subsidiaries and VIEs in the PRC during the periods presented. Amounts contributed to the statutory reserves were RMB182,740 and RMB198,422 as of December 31, 2013 and 2014, respectively. | |
Note_15_Related_Party_Balances
Note 15 - Related Party Balances and Transactions | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Transactions Disclosure [Text Block] | (15) Related Party Balances and Transactions | ||||||||
The principal related party balances and transactions as of and for the years ended December 31, 2013 and 2014 are as follows: | |||||||||
a) | Amounts due from related parties: | ||||||||
As of December 31, | |||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Amount due from an affiliate and its subsidiaries, net (i) | 144,371 | 209,601 | |||||||
Subscription receivables(note 2(m) & note 12) | — | 257,491 | |||||||
(i) | The Group agreed to grant a revolving loan with a maximum amount of US$50,000 (equivalent to RMB317,990 as per the agreement) to Sincere Fame and its subsidiaries pursuant to a facility letter entered in October 2011 (the "Facility"). The Facility is valid for two years and is renewed upon mutual agreement for another two years in October 2013. On January 1, 2012, the Group and Sincere Fame further entered into a supplemental loan agreement, which established the legal rights to offset the interests and amounts receivable or payable between the Group and Sincere Fame, and all the subsidiaries of the Group and Sincere Fame. As of December 31, 2013 and 2014, the amount due from Sincere Fame and its subsidiaries represented RMB126,621 and RMB179,681 (US$28,959) principal receivable, RMB16,250 and RMB28,420 (US$4,580) interest receivable and RMB1,500 and RMB1,500 (US$242) account receivables. These amounts are unsecured, bear interest at 7.3% and are repayable on demand. | ||||||||
b) | A subsidiary of the Company provided information technology service to an affiliate and charged RMB5,660 RMB1,415 and nil for the years ended December 31, 2012, 2013, and 2014, respectively. | ||||||||
The Group charged affiliates interest income of RMB10,298, RMB6,843 and RMB12,170 for loans receivable for the years ended December 31, 2012, 2013, and 2014, respectively. | |||||||||
c) | A subsidiary of the Group held a 30% equity interest in Beijing Fanhua Micro-credit Company Limited, on behalf of Shenzhen Fanhua United Investment Group, which is a subsidiary of Sincere Fame. | ||||||||
d) | The Group had acquired non-controlling interests of a number of its subsidiaries from shareholders who are also employees of the Group in 2012. The excess of the fair values of these non-controlling interests acquired from these equity shareholders over the transaction prices as of the respective transaction dates were considered to be compensation expenses, which amounted to RMB7,900, and had been charged to the consolidated statement of income and comprehensive income (loss) for the years ended December 31, 2012. The valuation of the equity of a private company is highly judgmental, so changes in the significant assumptions related to these valuations could materially affect the fair values of these entities and the related compensation expenses. There was no such transaction for the year ended December 31, 2013 and 2014. | ||||||||
e) | Puyi Asset Management Co., Ltd (“Puyi Asset”), previously one of its subsidiaries, distributed certain wealth management products supplied by one of our affiliates. Commission revenues generated from such affiliate were RMB7,522, RMB13,112 and nil for the years ended December 31, 2012, 2013 and 2014. However, Puyi Asset was disposed of in December, 2013 and no longer a subsidiary of the Group as of December 31, 2013. | ||||||||
Note_16_Commitments_and_Contin
Note 16 - Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies Disclosure [Text Block] | (16) Commitments and Contingencies | ||||
(i) The Group has several non-cancelable operating leases, primarily for office premises. | |||||
Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum operating lease payments as of December 31, 2014 are: | |||||
Minimum Lease | |||||
Payment | |||||
RMB | |||||
Year ending December 31: | |||||
2015 | 20,598 | ||||
2016 | 15,203 | ||||
2017 | 6,028 | ||||
2018 | 516 | ||||
2019 | 111 | ||||
Total | 42,456 | ||||
Rental expenses incurred under operating leases for the years ended December 31, 2012, 2013 and 2014 amounted to RMB31,858, RMB30,509 and RMB27,455, respectively. | |||||
(ii) The Group entered into various acquisition agreements which contain certain purchase considerations that are contingent upon future performance of the acquired companies. Please refer to note 3 for more details. | |||||
(iii) On October 17, 2011, Pieter Van Dongen, individually and on behalf of an alleged class of similarly situated holders of our ADSs, filed a class action lawsuit in the United States District Court for the Southern District of New York against the Group and three of our then executive officers. On March 19, 2014, the Company signed a settlement agreement with the plaintiff, to settle the lawsuit at US$6,625 (approximately RMB40,106), to be paid as consideration for full and complete settlement of all the released claims. The settlement has been fully settled subsequently during 2014. On August 15, 2014, the Court granted final approval of the settlement agreement. | |||||
Note_17_Concentrations_of_Cred
Note 17 - Concentrations of Credit Risk | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Risks and Uncertainties [Abstract] | |||||||||||||||||||||||||
Concentration Risk Disclosure [Text Block] | (17) Concentrations of Credit Risk | ||||||||||||||||||||||||
Concentration risks | |||||||||||||||||||||||||
Details of the customers accounting for 10% or more of total net revenues from commissions and fees are as follows: | |||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||
2012 | % of sales | 2013 | % of sales | 2014 | % of sales | ||||||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||||||||
PICC Property and Casualty Company Limited ("PICC") | 330,699 | 21 | % | 346,405 | 20 | % | 442,608 | 21 | % | ||||||||||||||||
Ping An Property & Casualty Insurance Company of China, Ltd. ("Ping An"). | 185,595 | 12 | % | 248,102 | 14 | % | 294,228 | 14 | % | ||||||||||||||||
China Pacific Property Insurance Co., Ltd. ("CPIC") | 208,797 | 13 | % | 204,983 | 12 | % | 255,655 | 12 | % | ||||||||||||||||
725,091 | 46 | % | 799,490 | 46 | % | 992,491 | 47 | % | |||||||||||||||||
Details of the customers which accounted for 10% or more of accounts receivable are as follows: | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2013 | % | 2014 | % | ||||||||||||||||||||||
RMB | RMB | ||||||||||||||||||||||||
PICC. | 41,375 | 21 | % | 32,117 | 17 | % | |||||||||||||||||||
Ping An. | 18,817 | 9 | % | 28,903 | 16 | % | |||||||||||||||||||
CPIC | 20,654 | 10 | % | 22,927 | 12 | % | |||||||||||||||||||
80,846 | 40 | % | 83,947 | 45 | % | ||||||||||||||||||||
The Group performs ongoing credit evaluations of its customers and related parties and generally does not require collateral on accounts receivable. | |||||||||||||||||||||||||
The Group places its cash and cash equivalents with financial institutions with high-credit ratings and quality. | |||||||||||||||||||||||||
The Group performs ongoing credit evaluations on the amounts due from Sincere Fame and its subsidiaries (note 15(a)(i)). As the Group has significant influences over the operations of Sincere Fame through its equity investment in Sincere Fame, and the historically positive operating results of Sincere Fame and its subsidiaries, the Group considered that the credit risks on the amounts due from an affiliate and its subsidiaries are not significant. | |||||||||||||||||||||||||
Currency risk | |||||||||||||||||||||||||
Except for the proceeds from the initial public offering and the follow-on offering (which were in USD), substantially all of the revenue-generating operations of the Group are transacted in RMB, which is not freely convertible into foreign currencies. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted by the People’s Bank of China. However, the unification of the exchange rate does not imply convertibility of RMB into USD or other foreign currencies. All foreign exchange transactions must take place either through the People’s Bank of China or other institutions authorized to buy and sell foreign exchange or at a swap center. Approval of foreign currency payments by the People’s Bank of China or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. | |||||||||||||||||||||||||
Note_18_NonCash_Transactions
Note 18 - Non-Cash Transactions | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | (18) Non-Cash Transactions | ||||||||||||
The Group entered into the following non-cash investing and financing activities: | |||||||||||||
Year ended December 31, | |||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Considerations payable in connection with acquisition of subsidiaries | 96 | — | — | ||||||||||
Considerations payable in connection with other investment | 3,030 | 3,720 | — | ||||||||||
Payables for addition of office equipment, furniture and fixtures | 38,537 | — | — | ||||||||||
Subscription receivables from employee companies(Note 2(m) & Note 12) | — | — | 257,491 | ||||||||||
Note_19_Sharebased_Compensatio
Note 19 - Share-based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | (19) Share-based Compensation | ||||||||||||||||
2014 InsCom Options | |||||||||||||||||
On March 29, 2012, the shareholders of InsCom Holdings Limited ("InsCom"), a private subsidiary of which the Group has a 65.10% equity interest, has resolved on the adoption of a share incentive plan, under which the maximum number of ordinary shares that can be granted is 202,400,000 shares, equal to 20% of the total number of ordinary shares outstanding at InsCom as at March 28, 2012, and that the board of directors are authorized to grant such options. | |||||||||||||||||
On July 1, 2014, InsCom granted stock options to purchase 3,477,281 of its ordinary shares to its entrepreneurial agents and 8,189,000 ordinary shares to its employees (the "2014 InsCom Options"). The number of options that the grantees are entitled to in each year will be calculated based on the key performance indicator scores of the grantees in the respective prior year and subject to their continued services to the InsCom and the Group. For options granted to agents, 3,477,281 ordinary shares ("Option K1") shall vest on June 30, 2015, and the expiration date is December 31, 2016. For options granted to employees, ordinary shares of 4,259,000 ("Option K2") shall vest on July 1, 2014, and the remaining ordinary shares of 3,930,000 ("Option K3") shall vest on June 30, 2015, the expiration date is June 30, 2020. The 2014 InsCom Options have an exercise price of RMB0.028 per ordinary share. There is no intrinsic value of the options as of the date of grant. | |||||||||||||||||
As of the grant date and December 31, 2014, the fair values of the 2014 InsCom Options were estimated to be of nominal values. The share-based compensation expenses related to the 2014 InsCom Options was RMB109 for the year ended December 31, 2014. No shares of 2014 InsCom Options had been exercised. | |||||||||||||||||
2013 InsCom Options | |||||||||||||||||
On June 24, 2013, InsCom granted stock options to purchase 5,914,312 of its ordinary shares to its entrepreneurial agents and 14,744,000 ordinary shares to its and the Group's employees (the "2013 InsCom Options"). The number of options that the grantees are entitled to in each year will be calculated based on the key performance indicator scores of the grantees in the respective prior year and subject to their continued services to the InsCom and the Group. For options granted to agents, 60,000 ordinary shares ("Option J1") was vested immediately on June 24, 2013, and the remaining ("Option J2") of the award options shall vest on June 30, 2014, the expiration date for options granted to agents is December 31, 2014. For options granted to employees ("Option J3") , the vesting date is June 30, 2014, and the expiration date is June 30, 2018. The 2013 InsCom Options have an exercise price of RMB1.20 per ordinary share. The exercise price and expiration date for 2013 InsCom Options was later modified) (See "option modification" section of the note). There is no intrinsic value of the options as of the date of grant. | |||||||||||||||||
As of the grant date and December 31, 2014, the fair values of the 2013 InsCom Options were estimated to be of nominal values. The share-based compensation expenses related to the 2013 InsCom Options was RMB6 and nil for the year ended December 31, 2013 and 2014, respectively. No shares of 2013 InsCom Options had been exercised. | |||||||||||||||||
2012 InsCom Options | |||||||||||||||||
On April 2, 2012, InsCom granted stock options to purchase 36,515,586 of its ordinary shares to its entrepreneurial agents and 24,492,750 ordinary shares to its and the Group's employees (the "2012 InsCom Options"). Pursuant to the option agreements entered into between the Company and the option grantees, the options shall vest over a two-year period from 2012 to 2013. The number of options that the grantees are entitled to in each year will be calculated based on the key performance indicator scores of the grantees in the respective prior year and subject to their continued services to the InsCom and the Group. For options granted to agents, 86% ("Option I1") was vested immediately on April 2, 2012, and the remaining 14% ("Option I2") of the award options shall vest on June 30, 2013. The expiration date for options granted to agents is December 31, 2014. For options granted to employees, 36% ("Option I3") was vested immediately on April 2, 2012, and the remaining 64% ("Option I4") of the award options shall vest on June 30, 2013, and the expiration date for options granted to employees is June 30, 2017. The 2012 InsCom Options have an exercise price of RMB1.00 per ordinary share. The exercise price and expiration date for 2012 InsCom Options was later modified) (See "option modification" section of the note). There is no intrinsic value of the options as of the date of grant. | |||||||||||||||||
As of the grant date and the periods presented, the fair values of the 2012 InsCom Options were estimated to be of nominal values. The share-based compensation expenses related to the 2012 InsCom Options was RMB3, RMB6 and nil for the years ended December 31, 2012, 2013 and 2014 respectively. As of December 31, 2014, no shares of 2012 InsCom Options had been exercised. | |||||||||||||||||
2012 Option | |||||||||||||||||
a. | 2012 Options G | ||||||||||||||||
On March 12, 2012, the Company granted options ("2012 Options G") to its directors and employees to purchase up to 92,845,000 ordinary shares of the Company. Pursuant to the option agreements entered into between the Company and the option grantees, the options shall vest over a five-year service period from 2012 to 2016. The members of the board of directors of the Company received 8,800,000 stock options, which require continued services to the Company but with no other performance conditions. For the rest of the 2012 Option G awards, the number of options that the grantees are entitled to in each year will be calculated based on the key performance indicator scores of the grantees in the respective prior year and subject to their continued employment with the Company. Accordingly, 20% ("Option G1"), 20% ("Option G2"), 25% ("Option G3"), 20% ("Option G4") and 15% ("Option G5") of the award options shall vest on May 31 each of the years 2012 to 2016, respectively. The expiration date of the 2012 Options is March 12, 2022. The 2012 Options G had an exercise price of US$0.30 (RMB1.90) and an intrinsic value of US$0.04 (RMB0.26) per ordinary share, except for the 3,200,000 options granted to the two independent directors which had an exercise price of US$0.31 (RMB1.98) and an intrinsic value of US$0.03 (RMB0.17) per ordinary share. The exercise price for Option G was later modified to US$0.001 (RMB0.006) and the number of shares are reduced by half (See "option modification" section of the note). The fair value of the options was determined by using the Black-Scholes option pricing model with the following assumptions: | |||||||||||||||||
Option G1 | Option G2 | Option G3 | Option G4 | Option G5 | |||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | 0% | 0% | ||||||||||||
Risk-free interest rate | 2.02% | 2.16% | 2.29% | 2.42% | 2.55% | ||||||||||||
Expected life (years) | 5.11 | 5.61 | 6.11 | 6.61 | 7.11 | ||||||||||||
Expected volatility | 74.54% | 74.54% | 74.54% | 74.54% | 74.54% | ||||||||||||
The expected dividend yield was estimated by the Company based on its dividend policy over the expected life of the options. Risk-free interest rate was estimated based on the USD Treasury Bond Yield and pro-rated according to the tenor of the options plus a risk premium of 1.05% to cater the higher sovereign risk of China. The expected term was estimated by taking into consideration the expiration period and the vesting terms. Expected volatility was estimated based on the longest available historical annualized daily volatilities of the Company. | |||||||||||||||||
For the year ended December 31, 2012, 2013 and 2014, share-based compensation expenses of RMB60,666, RMB35,732 and RMB22,200 were recognized in connection with the 2012 Options G, respectively. As of December 31, 2014, 972,640 shares of 2012 Options G had been exercised. During the years ended December 31, 2012, 2013 and 2014, nil, 786,670 and 932,305 shares of 2012 Options G, respectively, were forfeited due to employee resignations. No share-based compensation expense related to the forfeited options was recognized. | |||||||||||||||||
b. | 2012 Options H | ||||||||||||||||
On March 12, 2012, the Company granted options ("2012 Options H") to its entrepreneurial agents and captains (non-employees) to purchase 3,800,000 ordinary shares of the Company, of which 3,000,000 and 800,000 options were granted to agents and captains respectively. Pursuant to the option agreements entered into between the Company and the option grantees, 40% ("Option H1"), 40% ("Option H2") and 20% ("Option H3") of the 3,000,000 award options granted to agents shall vest in May 31, 2014, 2015 and 2016 of each year respectively; and 40% ("Option H4"), 40% ("Option H5") and 20% ("Option H6") of the 800,000 award options granted to captains shall vest in May 31, 2013, 2014 and 2015 of each year respectively. The number of options that the grantees are entitled to in each year of 2013 to 2016 will be calculated based on the key performance indicator scores of the grantees in the respective prior year and subject to their continued agent services with the Company. The expiration date of the 2012 Options H is March 12, 2022. The 2012Options H had an exercise price of US$0.30 (RMB1.90), which was later modified to US$0.001 (RMB0.006) (See "option modification" section of the note) and an intrinsic value of US$0.04 (RMB0.26) per ordinary share as of the date of grant. | |||||||||||||||||
The fair value of the options was determined by using the Black-Scholes option pricing model with the following assumptions as of December 31, 2014, exclude Option H1, H4 and H5 which were vested on May 31, 2013 and May 31, 2014: | |||||||||||||||||
Option H2 | Option H3 | Option H6 | |||||||||||||||
Stock price per ordinary shares | US$0.30 | US$0.30 | US$0.30 | ||||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | ||||||||||||||
Risk-free interest rate | 1.43% | 1.60% | 1.43% | ||||||||||||||
Expected life (years) | 4.81 | 5.31 | 4.81 | ||||||||||||||
Expected volatility | 60.32% | 64.83% | 60.32% | ||||||||||||||
The expected dividend yield was estimated by the Company based on its dividend policy over the expected life of the options. Risk-free interest rate was estimated based on the USD Treasury Bond Yield and pro-rated according to the tenor of the options plus a risk premium of 1.05% to cater the higher sovereign risk of China. The expected term was estimated by taking into consideration the expiration period and the vesting terms. Expected volatility was estimated based on daily stock prices of comparable companies for a period with length commensurate to expected term. | |||||||||||||||||
For the years ended December 31, 2012, 2013 and 2014, share-based compensation expenses of RMB1,100, RMB1,288 and RMB1,289 were recognized in connection with the 2012 Options H, respectively. As of December 31, 2014, no shares of 2012 Options H had been exercised. During the years ended December 31, 2012, 2013 and 2014, nil, 143,664 and 898,740 shares of 2012 Options H, respectively, were forfeited due to termination of agency contracts. No share-based compensation expense related to the forfeited options was recognized. | |||||||||||||||||
2009 Options | |||||||||||||||||
On March 9, 2009, the Company granted options ("2009 Options") to its employees to purchase 10,000,000 ordinary shares of the Company. Pursuant to the option agreements entered into between the Company and the option grantees, the options shall vest over a four-year period, with 30% ("Option D1"), 30%("Option D2"), 20% ("Option D3") and the remaining 20% ("Option D4") of the options vesting on March 31 of each of the years 2010 to 2013, respectively, subject to the continuous employment of the option grantees and their key performance indicators ("KPI") results for the years 2009. The expiration date of the 2009 Options is March 31, 2015, which was later modified to December 31, 2017 (See "option modification" section of the note). The 2009 Options have an exercise price of US$0.34 (RMB2.30) per ordinary share, equal to the price per ordinary share quoted on the Nasdaq Global Select Market at the date of passing the resolutions. There is no intrinsic value of the options as of the date of grant. The fair value of the options was determined by using the Black-Scholes option pricing model with the following assumptions: | |||||||||||||||||
Option D1 | Option D2 | Option D3 | Option D4 | ||||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | 0% | |||||||||||||
Risk-free interest rate | 3.35% | 3.51% | 3.55% | 3.61% | |||||||||||||
Expected life (years) | 3.56 | 4.06 | 4.56 | 5.06 | |||||||||||||
Expected volatility | 33.00% | 31.90% | 32.20% | 31.20% | |||||||||||||
As of December 31, 2014, 1,348,280 shares of 2009 Options had been exercised. The expected term was estimated by taking into consideration the expiration period and the vesting terms. Expected volatility was estimated based on daily stock prices of comparable companies for a period with length commensurate to expected term. | |||||||||||||||||
For the years ended December 31, 2012, 2013 and 2014, share-based compensation expenses of RMB1,353, RMB238 and nil was recognized in connection with the 2009 Options respectively, excluding the incremental expenses related to the option modification in December 2013 (See "option modification" section of the note). During the years ended December 31, 2012, 2013 and 2014, 200,410, 231,600 and 110,900 shares of 2009 Options, respectively, were forfeited due to employee resignations. No share-based compensation expense related to the forfeited options was recognized. | |||||||||||||||||
2008 Options | |||||||||||||||||
On November 21, 2008, the Company granted options to purchase 32,000,000 ordinary shares of the Company to certain directors and employees ("2008 Options"). Pursuant to the option agreements entered into between the Company and the option grantees, the options shall vest over a four-year period, with 30% ("Option C1"), 30% ("Option C2"), 20% ("Option C3") and the remaining 20% ("Option C4") of the options vesting on March 31 of each of the years 2010 to 2013, respectively, subject to the continuous employment of the option grantees and their KPI results for the years 2009. The expiration date of the 2008 Options is March 31, 2015, which was later modified to December 31, 2017 (See "option modification" section of the note). The 2008 Options have an exercise price of US$0.28 (RMB1.90), equal to the fair value of the Company’s share price at the grant date. There is no intrinsic value of the options as of the date of grant. The fair value of the options was determined by using the Black-Scholes option pricing model with the following assumptions: | |||||||||||||||||
Option C1 | Option C2 | Option C3 | Option C4 | ||||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | 0% | |||||||||||||
Risk-free interest rate | 3.70% | 3.71% | 3.93% | 4.07% | |||||||||||||
Expected life (years) | 3.86 | 4.36 | 4.86 | 5.36 | |||||||||||||
Expected volatility | 28.20% | 28.90% | 28.00% | 27.60% | |||||||||||||
As of December 31, 2014, 2,685,300 shares of 2008 Options had been exercised. The expected term was estimated by taking into consideration the expiration period and the vesting terms. Expected volatility was estimated based on daily stock prices of comparable companies for a period with length commensurate to expected term. | |||||||||||||||||
For the years ended December 31, 2012, 2013 and 2014, share-based compensation expenses of RMB3,756, RMB946 and nil was recognized in connection with 2008 Options, excluding the incremental expenses related to the option modification in December 2013 (See "option modification" section of the note). During the years ended December 31, 2012, 2013 and 2014 respectively, 211,080, 269,800 and 171,700 shares of 2008 Options, respectively, were forfeited due to employee resignations. No share-based compensation expense related to the forfeited options was recognized. | |||||||||||||||||
2007 Options | |||||||||||||||||
Option A | |||||||||||||||||
On February 3, 2007, CISG granted share options ("2007 Option A") to the Company’s former Chief Financial Officer, Mr. David Tang to purchase 5,473,684 ordinary shares. The options grant represents 0.8% of the issued share capital of CISG on a fully diluted basis upon full exercise of all outstanding options. The options vest over a two-year period, with 40% of the options vesting upon public listing of the Company and 30% on each of the first and second anniversaries of his employment. The 2007 Option A has an exercise price of RMB2.32 per ordinary share, equal to the fair value of CISG’s share price at the grant date, as determined by using the Black-Scholes option pricing model. The management of the Company determined the value of the Company’s shares as of January 31, 2007, with the assistance of a third party valuation company. There was no intrinsic value of the option as of the date of grant. | |||||||||||||||||
The assumptions used in determining the fair value of the options were as follows: | |||||||||||||||||
Weighted average assumptions—expected dividend yield | 0% | ||||||||||||||||
Risk-free interest rate | 2.71% | ||||||||||||||||
Expected life (years) | 5.6 | ||||||||||||||||
Expected volatility | 28.50% | ||||||||||||||||
The expected term was estimated by taking into consideration the expiration period and the vesting terms. Expected volatility is estimated based on daily stock prices of comparable companies for a period with length commensurate to expected term. As of December 31, 2014, 4,652,620 shares of 2007 Option A had been exercised. | |||||||||||||||||
Option modification | |||||||||||||||||
In December, 2013, the board of directors approved an option modification to extend the expiration dates of the outstanding 2008 Options and 2009 Options to December 31, 2017. Other terms of the options grants remain unchanged. The Company had taken a modification charge for the incremental compensation cost of RMB6,700 to the consolidated statement of income and comprehensive income (loss) for the year ended December 31, 2013, the period in which the modification occurred. | |||||||||||||||||
In December, 2013, the chairman of InsCom approved an option modification to extend the expiration dates of all InsCom options for one year and revised the exercise price of the options to RMB0.025 per ordinary share, the fair value as of the modification date. The Company had taken a modification charge for the incremental compensation cost of RMB401 to the consolidated statement of income and comprehensive income (loss) for the year ended December 31, 2013, the period in which the modification occurred. | |||||||||||||||||
In November 2014, the board and compensation committee passed a resolution to modify the exercise price of the 2012 Options that the exercise price of the rest of the 2012 Options was reduced from $0.30 per ordinary share (for certain directors, officers, key employees and sales agents) and $0.31 per ordinary share (for two independent directors who are residents of the United States) to $0.001 per ordinary share while the maximum aggregate award of 96,645,000 ordinary shares was reduced to 46,722,500 ordinary shares. The options are subject to the same service period. As of December 31, 2014, except for the options granted to one of the independent directors, outstanding options to purchase 91,327,722 ordinary shares were modified into 45,663,861 shares options. There was no incremental cost as a result of such option modification. | |||||||||||||||||
For each of the three years ended December 31, 2012, 2013 and 2014, changes in the status of outstanding options, excluding the InsCom options, were as follows: | |||||||||||||||||
Number of | Weighted | Aggregate | |||||||||||||||
options | average | Intrinsic Value | |||||||||||||||
exercise price in | RMB | ||||||||||||||||
RMB | |||||||||||||||||
Outstanding as of January1, 2012 | 37,111,101 | 1.99 | 7,070 | ||||||||||||||
Granted on March 12, 2012 | 96,645,000 | 1.9 | |||||||||||||||
Exercised | (183,380 | ) | 1.95 | ||||||||||||||
Forfeited | (411,490 | ) | 2.09 | ||||||||||||||
Outstanding as of December 31, 2012 | 133,161,231 | 1.92 | 15,436 | ||||||||||||||
Forfeited | (1,431,734 | ) | 1.96 | ||||||||||||||
Outstanding as of December 31, 2013 | 131,729,497 | 1.92 | 15,436 | ||||||||||||||
Exercised | (1,704,380 | ) | 2.09 | ||||||||||||||
Forfeited | (2,113,656 | ) | 1.92 | ||||||||||||||
Modification of the 2012 Options | (45,663,861 | ) | 1.9 | ||||||||||||||
Outstanding as of December 31, 2014 | 82,247,600 | 1.9 | 10,177 | ||||||||||||||
Exercisable as of December 31, 2014 | 65,234,609 | 1.94 | 7,517 | ||||||||||||||
As of December 31, 2014, there were a total of 17,012,991 outstanding unvested options for the Group. As of December 31, 2014, there was RMB18,793 of total unrecognized compensation cost related to share options granted in 2012, which was expected to be recognized over a period of 1.5 years as of December 31, 2014. | |||||||||||||||||
No 2012 InsCom Options was exercised, or cancelled during the year ended December 31, 2013 and 2014. There was negligible unrecognized cost as of December 31, 2014. As of December 31, 2014, 4,476,505 shares of 2012 InsCom Options were forfeited because of resignation of the option holders. As of December 31, 2014, 56,531,831 shares of the 2012 InsCom Options are outstanding and exercisable, with weighted average remaining contractual life of 2 years and exercise price of RMB0.025 per ordinary share. | |||||||||||||||||
No 2013 InsCom Options was exercised or cancelled during the year ended December 31, 2014, and there was nil of unrecognized cost expected to be recognized over a period of one year as of December 31, 2014. As of December 31, 2014, 3,036,879 shares were forfeited. As of December 31, 2014, 17,621,433 shares of the 2013 InsCom Options are outstanding and exercisable, with weighted average remaining contractual life of 3.5 years and exercise price of RMB0.025 per ordinary share. | |||||||||||||||||
No 2014 InsCom Options was exercised or cancelled during the year ended December 31, 2014, and there was nil of unrecognized cost expected to be recognized over a period of one year as of December 31, 2014. During the year of 2014, 120,000 shares were forfeited. As of December 31, 2014, 11,546,281 shares of the 2014 InsCom Options are outstanding, 4,259,000 options are exercisable, with weighted average remaining contractual life of 4.5 years and exercise price of RMB0.028 per ordinary share. | |||||||||||||||||
The following table summarizes information about the Company’s share option plans for the years ended December 31, 2012, 2013 and 2014, excluding the InsCom options, were: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
RMB | RMB | RMB | |||||||||||||||
Weighted-average grant-date fair value per share of options granted | 1.48 | — | — | ||||||||||||||
Total intrinsic value of options exercised | 74 | — | 837 | ||||||||||||||
Total fair value of share options vested | 30,513 | 34,362 | 44,912 | ||||||||||||||
The following table summarizes information about the Company’s stock option plans as of December 31, 2014, excluding the InsCom options, were: | |||||||||||||||||
Options outstanding | Weighted | Weighted | Options Exercisable | ||||||||||||||
average | average | ||||||||||||||||
remaining | exercise price | ||||||||||||||||
contractual life | in RMB | ||||||||||||||||
(Years) | |||||||||||||||||
2012 Options G | 45,876,692 | 7.3 | 0.006 | 29,663,817 | |||||||||||||
2012 Options H | 1,370,428 | 7.3 | 0.006 | 570,312 | |||||||||||||
2009 Options | 7,000,000 | 3 | 2.3 | 7,000,000 | |||||||||||||
2008 Options | 28,000,480 | 3 | 1.9 | 28,000,480 | |||||||||||||
Total | 82,247,600 | 65,234,609 | |||||||||||||||
There is no 2007 Options A outstanding as of December 31, 2014. | |||||||||||||||||
Note_20_Restricted_Net_Assets
Note 20 - Restricted Net Assets | 12 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block Supplement [Abstract] | |
Restricted Assets Disclosure [Text Block] | (20) Restricted Net Assets |
Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s PRC subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. As a result of these PRC laws and regulations, the Group’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets either in the form of dividends, loans or advances. As of December 31, 2013 and 2014, the Company had restricted net assets of RMB1,907,730 and RMB2,055,417 (including RMB135,678 and RMB131,313 restricted net assets of the VIEs), respectively, which were not eligible to be distributed. These amounts were comprised of the registered capital of the Company’s PRC subsidiaries and the statutory reserves disclosed in note 14. | |
Note_21_Segment_Reporting
Note 21 - Segment Reporting | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Segment Reporting Disclosure [Text Block] | (21) Segment Reporting | ||||||||||||||||
Before January 1, 2014, the Group operated three operating segments: (1) property and casualty insurance ("P&C"), (2) life insurance ("Life"), and (3) insurance claims adjusting services ("Claims Adjusting"). From January 1, 2014, the Group realigned its financial reporting structure into three principal business segments that more accurately reflect its organizational structure and changing business mix. Historical results reflecting the new business segments for the corresponding period of the previous year have been restated. | |||||||||||||||||
The new principal business segments are as follows: (1) insurance agency business segment, which mainly consists of providing agency services for P&C insurance products and life insurance products to individual clients, (2) insurance brokerage business segment, which mainly consists of providing P&C and life insurance brokerage services to institutional clients, and (3) claims adjusting segment, which consists of providing pre-underwriting survey, claim adjusting, disposal of residual value, loading and unloading supervision and consulting services. Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the Group's chief operating decision maker in deciding how to allocate resources and in assessing performance. | |||||||||||||||||
The following table shows the Group’s operations by business segment for the years ended December 31, 2012, 2013 and 2014. Other includes revenue and expenses that are not allocated to reportable segments and corporate related items. | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
2012 | 2013 | 2014 | 2014 | ||||||||||||||
RMB | RMB | RMB | US$ | ||||||||||||||
Net revenues | |||||||||||||||||
Agency | 1,305,310 | 1,418,512 | 1,624,410 | 261,807 | |||||||||||||
Brokerage | 48,855 | 63,418 | 232,620 | 37,492 | |||||||||||||
Claims Adjusting | 217,497 | 261,206 | 292,981 | 47,220 | |||||||||||||
Others | 14,455 | 13,888 | — | — | |||||||||||||
Total net revenues | 1,586,117 | 1,757,024 | 2,150,011 | 346,519 | |||||||||||||
Operating costs and expenses | |||||||||||||||||
Agency | (1,138,083 | ) | (1,305,306 | ) | (1,486,871 | ) | (239,640 | ) | |||||||||
Brokerage | (34,474 | ) | (53,719 | ) | (197,017 | ) | (31,753 | ) | |||||||||
Claims Adjusting | (186,695 | ) | (234,129 | ) | (275,539 | ) | (44,409 | ) | |||||||||
Other | (161,039 | ) | (145,884 | ) | (159,685 | ) | (25,737 | ) | |||||||||
Total operating costs and expenses | (1,520,291 | ) | (1,739,038 | ) | (2,119,112 | ) | (341,539 | ) | |||||||||
Income (loss) from operations | |||||||||||||||||
Agency | 167,227 | 113,206 | 137,539 | 22,167 | |||||||||||||
Brokerage | 14,381 | 9,699 | 35,603 | 5,739 | |||||||||||||
Claims Adjusting | 30,802 | 27,077 | 17,442 | 2,811 | |||||||||||||
Other | (146,584 | ) | (131,996 | ) | (159,685 | ) | (25,737 | ) | |||||||||
Total income from operations | 65,826 | 17,986 | 30,899 | 4,980 | |||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2014 | 2014 | |||||||||||||||
RMB | RMB | US$ | |||||||||||||||
Segment assets | |||||||||||||||||
Agency | 1,375,299 | 1,682,305 | 271,138 | ||||||||||||||
Brokerage | 109,177 | 118,139 | 19,041 | ||||||||||||||
Claims Adjusting | 103,126 | 116,877 | 18,837 | ||||||||||||||
Other | 1,973,128 | 1,831,165 | 295,130 | ||||||||||||||
Total assets | 3,560,730 | 3,748,486 | 604,146 | ||||||||||||||
Substantially all of the Group’s revenues for the three years ended December 31, 2012, 2013 and 2014 were generated from the PRC. A substantial portion of the identifiable assets of the Group is located in the PRC. Accordingly, no geographical segments are presented. | |||||||||||||||||
Note_22_Subsequent_Event
Note 22 - Subsequent Event | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | (22) Subsequent event |
(a) In January 5, 2015, Kingsford Resources Limited ("Kingsford Resources") entered into a share purchase and sale agreement with CDH Inservice Limited ("CDH Inservice") in a privately negotiated transaction, pursuant to which Kingsford Resources, collectively held by Mr. Qiuping Lai, Mr. Chunlin Wang and Mr. Peng Ge, has agreed to purchase from CDH Inservice 7,731,149 ADSs, or its equivalent in ordinary shares of our company, at a price of US$7 per ADS, or US$0.35 per ordinary share, for total compensation of US$54.1 million. The 7,731,149 ADSs represent the entire interests in our company held by CDH Inservice as of January 5, 2015. 3,865,575 ADSs or its equivalent in ordinary shares were delivered by CDH Inservice to Kingsford Resources on January 15, 2015 and the remaining 3,865,574 ADSs or its equivalent in ordinary shares will be delivered on or prior to January 15, 2016. | |
(b) In January, 2015, the Group acquired the remaining 49% equity share of Henan Fanhua Anlian Insurance Agency Co., Ltd. ("Henan Anlian")for a cash consideration of RMB68,000, increasing our shareholdings in Henan Anlian from 51% to 100%. The Group also acquired 36.5% equity share of Hebei Fanlian Insurance Agency Co., Ltd. ("Hebei Fanlian") for a total consideration including cash consideration of RMB40,000 and 12.5% equity interest in business of Hebei branch of Fanhua Lianxing Insurance Sales Co., Ltd., increasing our shareholdings in Hebei Fanlian from 51% to 87.5%. | |
Schedule_1_Condensed_Financial
Schedule 1 - Condensed Financial Statements of the Company | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | SCHEDULE 1—CONDENSED FINANCIAL STATEMENTS OF THE COMPANY | ||||||||||||||||||||||||||||
Balance Sheets | |||||||||||||||||||||||||||||
(In thousands, except for shares) | |||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||
2013 | 2014 | 2014 | |||||||||||||||||||||||||||
RMB | RMB | US$ | |||||||||||||||||||||||||||
ASSETS: | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | 11,471 | 9,707 | 1,564 | ||||||||||||||||||||||||||
Other receivables | 40,106 | 296 | 48 | ||||||||||||||||||||||||||
Amounts due from subsidiaries | 1,491,025 | 1,539,702 | 248,155 | ||||||||||||||||||||||||||
Total current assets | 1,542,602 | 1,549,705 | 249,767 | ||||||||||||||||||||||||||
Non-current assets: | |||||||||||||||||||||||||||||
Investment in subsidiaries | 1,561,555 | 1,700,295 | 274,038 | ||||||||||||||||||||||||||
Total assets | 3,104,157 | 3,250,000 | 523,805 | ||||||||||||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY: | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Other payables | 45,102 | 2,723 | 439 | ||||||||||||||||||||||||||
Amounts due to subsidiaries | 30,958 | 36,525 | 5,887 | ||||||||||||||||||||||||||
Total liabilities | 76,060 | 39,248 | 6,326 | ||||||||||||||||||||||||||
Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 998,861,526 and 1,150,565,906 as of December 31, 2013 and 2014, respectively)) | 7,624 | 8,563 | 1,380 | ||||||||||||||||||||||||||
Additional paid-in capital | 2,329,962 | 2,601,401 | 419,270 | ||||||||||||||||||||||||||
Retained earnings | 801,625 | 963,385 | 155,269 | ||||||||||||||||||||||||||
Accumulated other comprehensive loss | (111,114 | ) | (105,106 | ) | (16,940 | ) | |||||||||||||||||||||||
Subscription receivables | — | (257,491 | ) | (41,500 | ) | ||||||||||||||||||||||||
Total shareholders’ equity | 3,028,097 | 3,210,752 | 517,479 | ||||||||||||||||||||||||||
Total liabilities and shareholders' equity | 3,104,157 | 3,250,000 | 523,805 | ||||||||||||||||||||||||||
Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2012 | 2013 | 2014 | 2014 | ||||||||||||||||||||||||||
RMB | RMB | RMB | US$ | ||||||||||||||||||||||||||
General and administrative expenses | (77,993 | ) | (50,633 | ) | (31,191 | ) | (5,027 | ) | |||||||||||||||||||||
Interest income | 13,215 | 6,847 | 12,464 | 2,009 | |||||||||||||||||||||||||
Equity in earnings of subsidiaries | 195,288 | 139,429 | 180,487 | 29,089 | |||||||||||||||||||||||||
Net income | 130,510 | 95,643 | 161,760 | 26,071 | |||||||||||||||||||||||||
Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments | (2,481 | ) | (6,982 | ) | 6,008 | 968 | |||||||||||||||||||||||
Comprehensive income attributable to the CNinsure Inc’s shareholders | 128,029 | 88,661 | 167,768 | 27,039 | |||||||||||||||||||||||||
Statements of Shareholders’ Equity | |||||||||||||||||||||||||||||
(In thousands, except for shares) | |||||||||||||||||||||||||||||
Share Capital | Accumulated | ||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||
Number of Share | Amounts | Additional | Retained Earnings | Comprehensive Income (Loss) | Subscription | Total | |||||||||||||||||||||||
Paid-in Capital | Receivables | ||||||||||||||||||||||||||||
RMB | RMB | RMB | RMB | RMB | RMB | ||||||||||||||||||||||||
Balance as of January 1, 2012 | 1,002,541,446 | 7,646 | 2,272,580 | 575,472 | (101,651 | ) | — | 2,754,047 | |||||||||||||||||||||
Net income | — | — | — | 130,510 | — | — | 130,510 | ||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (2,481 | ) | — | (2,481 | ) | ||||||||||||||||||||
Exercise of share options | 183,380 | 1 | 347 | — | — | — | 348 | ||||||||||||||||||||||
Repurchase of ordinary shares | (3,863,300 | ) | (23 | ) | (9,221 | ) | — | — | — | (9,244 | ) | ||||||||||||||||||
Share-based compensation | — | — | 66,878 | — | — | — | 66,878 | ||||||||||||||||||||||
Other | — | — | (45,678 | ) | — | — | — | (45,678 | ) | ||||||||||||||||||||
Balance as of December 31, 2012 | 998,861,526 | 7,624 | 2,284,906 | 705,982 | (104,132 | ) | — | 2,894,380 | |||||||||||||||||||||
Net income | — | — | — | 95,643 | — | — | 95,643 | ||||||||||||||||||||||
Foreign currency translation | — | — | — | — | (6,982 | ) | — | (6,982 | ) | ||||||||||||||||||||
Share-based compensation | — | — | 44,904 | — | — | — | 44,904 | ||||||||||||||||||||||
Other | — | — | 152 | — | — | — | 152 | ||||||||||||||||||||||
Balance as of December 31, 2013 | 998,861,526 | 7,624 | 2,329,962 | 801,625 | (111,114 | ) | — | 3,028,097 | |||||||||||||||||||||
Net income | — | — | — | 161,760 | — | — | 161,760 | ||||||||||||||||||||||
Issue new shares to employee | 150,000,000 | 928 | 256,563 | — | — | (257,491 | ) | — | |||||||||||||||||||||
Foreign currency translation | — | — | — | — | 6,008 | — | 6,008 | ||||||||||||||||||||||
Exercise of share options | 1,704,380 | 11 | 3,172 | — | — | — | 3,183 | ||||||||||||||||||||||
Share-based compensation | — | — | 23,598 | — | — | — | 23,598 | ||||||||||||||||||||||
Other | — | — | (11,894 | ) | — | — | — | (11,894 | ) | ||||||||||||||||||||
Balance as of December 31, 2014 | 1,150,565,906 | 8,563 | 2,601,401 | 963,385 | (105,106 | ) | ( 257,491 | ) | 3,210,752 | ||||||||||||||||||||
Balance as of December 31, 2014 in US$ | 1,380 | 419,270 | 155,269 | (16,940 | ) | (41,500 | ) | 517,479 | |||||||||||||||||||||
Statements of Cash Flows | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2012 | 2013 | 2014 | 2014 | ||||||||||||||||||||||||||
RMB | RMB | RMB | US$ | ||||||||||||||||||||||||||
OPERATING ACTIVITIES | |||||||||||||||||||||||||||||
Net income | 130,510 | 95,643 | 161,760 | 26,071 | |||||||||||||||||||||||||
Adjustments to reconcile net income to net cash used in operating activities: | |||||||||||||||||||||||||||||
Equity in earnings of subsidiaries | (195,288 | ) | (139,016 | ) | (180,487 | ) | (29,089 | ) | |||||||||||||||||||||
Compensation expenses associated with stock options | 66,878 | 44,904 | 23,598 | 3,803 | |||||||||||||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||||||||||||||
Other receivables | 189,004 | 1,212 | 39,810 | 6,416 | |||||||||||||||||||||||||
Other payables | (189 | ) | (582 | ) | (42,379 | ) | (6,830 | ) | |||||||||||||||||||||
Net cash generated from operating activities | 190,915 | 2,161 | 2,302 | 371 | |||||||||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
(Increase) decrease in investment in subsidiaries | (12,899 | ) | (34,102 | ) | 29,853 | 4,811 | |||||||||||||||||||||||
Advances (to) from subsidiaries | (176,826 | ) | 37,337 | (43,110 | ) | (6,948 | ) | ||||||||||||||||||||||
Disposal of subsidiaries | — | (1,532 | ) | — | — | ||||||||||||||||||||||||
Net cash (used in) generated from investing activities | (189,725 | ) | 1,703 | (13,257 | ) | (2,137 | ) | ||||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||
Proceeds on exercise of stock options | 348 | — | 3,183 | 513 | |||||||||||||||||||||||||
Repurchase ordinary shares | (9,244 | ) | — | — | — | ||||||||||||||||||||||||
Net cash (used in) generated from financing activities | (8,896 | ) | — | 3,183 | 513 | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (7,706 | ) | 3,864 | (7,772 | ) | (1,253 | ) | ||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 24,776 | 14,589 | 11,471 | 1,849 | |||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (2,481 | ) | (6,982 | ) | 6,008 | 968 | |||||||||||||||||||||||
Cash and cash equivalents at end of year | 14,589 | 11,471 | 9,707 | 1,564 | |||||||||||||||||||||||||
Note to Schedule 1 | |||||||||||||||||||||||||||||
(In thousands, except for shares) | |||||||||||||||||||||||||||||
Schedule 1 has been provided pursuant to the requirements of Rule 12-04(a), 5-04(c) and 4-08(e)(3) of Regulation S-X, which require condensed financial statements as to the financial position, changes in financial position and results of 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 (including variable interest entities) together exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. As of December 31, 2014, RMB2,055,417 of the restricted capital and reserves are not available for distribution, and as such, the condensed financial statements of the Company have been presented for the years ended December 31, 2013 and 2014. | |||||||||||||||||||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||
Consolidation, Policy [Policy Text Block] | Basis of Presentation and Consolidation | ||||||||||||||||||
The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). The consolidated financial statements include the financial statements of the Company, all its majority-owned subsidiaries and those VIEs of which the Company is the primary beneficiary, from the dates they were acquired or incorporated. All intercompany balances and transactions have been eliminated in consolidation. In addition, the Group consolidates VIEs of which it is deemed to be the primary beneficiary and absorbs all of the expected losses and residual returns of the entity. | |||||||||||||||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates | ||||||||||||||||||
The preparation of the consolidated financial statements in conformity with US GAAP requires management of the Group to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Significant accounting estimates reflected in the Group’s consolidated financial statements included the valuation of deferred tax assets, valuation of goodwill and intangible assets and liabilities of acquired businesses on acquisition day for impairment analysis, allowance for doubtful receivables, fair values of the subsidiaries being transferred within the Group at the dates of transactions, the valuation of non-controlling interests acquired from related parties at acquisition dates, valuation of transfer pricing and fair value of share based compensation. Actual results could differ from those estimates. | |||||||||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents and Restricted Cash | ||||||||||||||||||
Cash and cash equivalents consist of cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash, and have insignificant risk of changes in value related to changes in interest rates. | |||||||||||||||||||
In its capacity as an insurance agent and broker, the Group collects premiums from certain insureds and remits the premiums to the appropriate insurance companies. Accordingly, as reported in the consolidated balance sheets, "premiums" are receivables from the insureds. Unremitted net insurance premiums are held in a fiduciary capacity until disbursed by the Group. The Group invests these unremitted funds only in cash accounts held for a short term, and reports such amounts as restricted cash in the consolidated balance sheets. Also included in the restricted cash is a guarantee deposits required by China Insurance Regulatory Commission ("CIRC") in order to protect insurance premium appropriation by insurance agency of RMB7,034 and RMB4,536 as of December 31, 2013 and 2014, respectively. | |||||||||||||||||||
Short Term Investments [Policy Text Block] | Short Term Investment | ||||||||||||||||||
Short term investments are mainly available-for-sale investments in debt securities that do not have a quoted market price in an active market. They are measured at costs which approximate their fair values in the consolidated balance sheets. The Group benchmark the costs against fair values of comparable investments as of balance sheet date, and categorized all fair value measures of short term investments as level 2 of the fair value hierarchy. No impairment loss on short term investments was identified for each of the years ended December 31, 2013 and 2014. | |||||||||||||||||||
Receivables, Policy [Policy Text Block] | Accounts Receivable and Insurance Premium Receivables | ||||||||||||||||||
Accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable represent fees receivable on agency, brokerage and claims adjusting services primarily from insurance companies. Amounts collected on accounts receivable are included in net cash provided by operating activities in the consolidated statements of cash flows. The allowance for doubtful accounts is the Group’s best estimate of the amount of probable credit losses in the Group’s existing accounts receivable. The Group determines the allowance based on historical write-off experience. The Group reviews its allowance for doubtful accounts regularly. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. | |||||||||||||||||||
Accounts receivable, net is analyzed as follows: | |||||||||||||||||||
As of December 31, | |||||||||||||||||||
2013 | 2014 | ||||||||||||||||||
RMB | RMB | ||||||||||||||||||
Accounts receivable | 212,137 | 202,737 | |||||||||||||||||
Allowance for doubtful accounts | (12,655 | ) | (16,587 | ) | |||||||||||||||
Accounts receivable, net | 199,482 | 186,150 | |||||||||||||||||
The following table summarizes the movement of the Group's allowance for doubtful accounts: | |||||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||
Balance at the beginning of the year | 9,348 | 9,903 | 12,655 | ||||||||||||||||
Provision for doubtful accounts | 4,523 | 5,303 | 3,932 | ||||||||||||||||
Write-offs | (3,968 | ) | (2,551 | ) | — | ||||||||||||||
Balance at the ending of the year | 9,903 | 12,655 | 16,587 | ||||||||||||||||
Insurance premium receivables consist of insurance premium to be collected from insured, and is recorded at the invoiced amount and do not bear interest. Amounts collected on insurance premium receivables are included in net cash provided by operating activities in the consolidated statements of cash flows. | |||||||||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment | ||||||||||||||||||
Property, plant and equipment are stated at cost. Depreciation and amortization are calculated using the straight-line method over the following estimated useful lives, taking into account residual value: | |||||||||||||||||||
Estimated useful | Estimated residual | ||||||||||||||||||
life (Years) | value | ||||||||||||||||||
Building | 20 | - | 36 | 0% | |||||||||||||||
Office equipment, furniture and fixtures | 3 | - | 5 | 0% | - | 3% | |||||||||||||
Motor vehicles | 5 | - | 10 | 0% | - | 3% | |||||||||||||
Leasehold improvements | 5 | 0% | |||||||||||||||||
The depreciation methods and estimated useful lives are reviewed regularly. The following table summarizes the depreciation recognized in the consolidated statement of income and comprehensive income (loss): | |||||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||
Commission and fees under operating costs | 3,585 | 4,988 | 5,508 | ||||||||||||||||
Selling expenses | 1,880 | 1,636 | 1,282 | ||||||||||||||||
General and administrative expenses | 20,884 | 24,629 | 21,445 | ||||||||||||||||
Depreciation for the year | 26,349 | 31,253 | 28,235 | ||||||||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets | ||||||||||||||||||
Goodwill represents the excess of costs over fair value of net assets of businesses acquired. Goodwill is not amortized, but is tested for impairment at the reporting unit level at least on an annual basis at the balance sheet date or more frequently if certain indicators arise. The Group operated in three reporting units for the year ended December 31, 2014. The goodwill impairment review is a two-step process. Step 1 consists of a comparison of the fair value of a reporting unit with its carrying amount. An impairment loss may be recognized if the review indicates that the carrying value of a reporting unit exceeds its fair value. Estimates of fair value are primarily determined by using discounted cash flows. If the carrying amount of a reporting unit exceeds its fair value, step 2 requires the fair value of the reporting unit to be allocated to the underlying assets and liabilities of that reporting unit, resulting in an implied fair value of goodwill. If the carrying amount of the goodwill of the reporting unit exceeds the implied fair value, an impairment charge is recorded equal to the excess of the carrying amount over the implied fair value. | |||||||||||||||||||
The impairment review is highly judgmental and involves the use of significant estimates and assumptions. These estimates and assumptions have a significant impact on the amount of any impairment charge recorded. Discounted cash flow methods are dependent upon assumptions of future sales trends, market conditions and cash flows of each reporting unit over several years. Actual cash flows in the future may differ significantly from those previously forecasted. Other significant assumptions include growth rates and the discount rate applicable to future cash flows. | |||||||||||||||||||
In 2012, 2013 and 2014, management compared the carrying value of each reporting unit, inclusive of assigned goodwill, to its respective fair value which is the step one of the two-step impairment test. The fair value of all reporting units was estimated by using the income approach. Based on this quantitative test, it was determined that the fair value of each reporting unit tested exceeded its carrying amount and, therefore, step 2 of the two-step goodwill impairment test was unnecessary. The management concluded that goodwill was not impaired as of December 31, 2012, 2013 and 2014. | |||||||||||||||||||
Identifiable intangibles assets are required to be determined separately from goodwill based on their fair values. In particular, an intangible asset acquired in a business combination should be recognized as an asset separate from goodwill if it satisfies either the “contractual-legal” or “separability” criterion. Intangible assets with a finite economic life are carried at cost less accumulated amortization. Amortization for identifiable intangibles assets of customer relationship is computed using the accelerated method, while amortization for other identifiable intangibles assets is computed using the straight-line method over the intangible assets' economic lives. Intangible assets with indefinite economic lives are not amortized but carried at cost less any subsequent accumulated impairment losses. If an intangible asset that is not being amortized is subsequently determined to have a finite economic life, it will be tested for impairment and then amortized prospectively over its estimated remaining economic life and accounted for in the same manner as other intangible assets that are subject to amortization. Intangible assets with indefinite economic lives are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired. | |||||||||||||||||||
Separately identifiable intangible assets consist of brand name, trade name, customer relationship, non-compete agreement, agency agreement and license, and software and system. | |||||||||||||||||||
The intangible assets, net consisted of the following: | |||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||
Useful | Cost | Accumulated amortization | Accumulated | Net carrying | |||||||||||||||
life | Impairment | values | |||||||||||||||||
(Years) | loss | ||||||||||||||||||
RMB | RMB | RMB | RMB | ||||||||||||||||
Brand name | Indefinite | 24,091 | — | (20,384 | ) | 3,707 | |||||||||||||
Trade name | 9.4 | to | 10 | 8,898 | (2,925 | ) | — | 5,973 | |||||||||||
Customer relationship | 4.6 | to | 9.8 | 54,706 | (39,738 | ) | (5,760 | ) | 9,208 | ||||||||||
Non-compete agreement | 3 | to | 6.25 | 68,215 | (29,835 | ) | (34,692 | ) | 3,688 | ||||||||||
Agency agreement and license | 4.6 | to | 9.8 | 16,004 | (10,989 | ) | (581 | ) | 4,434 | ||||||||||
Software and system | 5 | to | 10 | 5,740 | (3,635 | ) | — | 2,105 | |||||||||||
177,654 | (87,122 | ) | (61,417 | ) | 29,115 | ||||||||||||||
As of December 31, 2014 | |||||||||||||||||||
Useful | Cost | Accumulated amortization | Accumulated | Net carrying | |||||||||||||||
life | Impairment loss | values | |||||||||||||||||
(Years) | |||||||||||||||||||
RMB | RMB | RMB | RMB | ||||||||||||||||
Brand name | Indefinite | 24,091 | — | (20,384 | ) | 3,707 | |||||||||||||
Trade name | 9.4 | to | 10 | 8,898 | (3,867 | ) | — | 5,031 | |||||||||||
Customer relationship | 4.6 | to | 9.8 | 67,096 | (48,012 | ) | (5,760 | ) | 13,324 | ||||||||||
Non-compete agreement | 3 | to | 6.25 | 69,485 | (32,557 | ) | (34,692 | ) | 2,236 | ||||||||||
Agency agreement and license | 4.6 | to | 9.8 | 21,394 | (14,789 | ) | (581 | ) | 6,024 | ||||||||||
Software and system | 5 | to | 10 | 5,999 | (4,723 | ) | — | 1,276 | |||||||||||
196,963 | (103,948 | ) | (61,417 | ) | 31,598 | ||||||||||||||
Aggregate amortization expenses for intangible assets were RMB15,285, RMB13,665 and RMB16,826 for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||||||||
Impairment of intangible assets with definite lives | |||||||||||||||||||
The Group evaluates the recoverability of identifiable intangible assets with determinable useful lives, whenever events or changes in circumstances indicate that these assets’ carrying amounts may not be recoverable. The Group measures the carrying amount of identifiable intangible asset with determinable useful live against the estimated undiscounted future cash flows associated with it. Impairment exists when the sum of the expected future net cash flows is less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. Fair value is estimated based on various valuation techniques, including the discounted value of estimated future cash flows. The evaluation of asset impairment requires the Group to make assumptions about future cash flows over the life of the asset being evaluated. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. During the years ended December 31, 2012, 2013 and 2014, the Group recognized no impairment losses on identifiable intangible assets with determinable useful lives. | |||||||||||||||||||
Impairment of indefinite-lived intangible assets | |||||||||||||||||||
An intangible asset that is not subject to amortization is tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. Such impairment test is to compare the fair values of assets with their carrying amounts and an impairment loss is recognized if and when the carrying amounts exceed the fair values. The estimates of fair values of intangible assets not subject to amortization are determined using various discounted cash flow valuation methodologies. Significant assumptions are inherent in this process, including estimates of discount rates or market price. Discount rate assumptions are based on an assessment of the risk inherent in the respective intangible assets. Market prices are based on potential purchase quote from third party, if any. During the years ended December 31, 2012, 2013 and 2014, the Group recognized no impairment losses on its indefinite-lived intangible assets. | |||||||||||||||||||
The estimated amortization expenses for the next five years are: RMB11,626 in 2015, RMB5,259 in 2016, RMB3,936 in 2017, RMB3,722 in 2018 and RMB2,557 in 2019, and an aggregate amount of RMB791 in years thereafter. | |||||||||||||||||||
Other Receivables And Other Current Assets [Policy Text Block] | Other Receivables and Other Current Assets | ||||||||||||||||||
Other receivables and other current assets mainly consist of receivables from third parties, advances, deposits, interest receivables, value-added tax recoverable and prepaid expenses. | |||||||||||||||||||
Equity Method Investments, Policy [Policy Text Block] | Investment in Affiliates | ||||||||||||||||||
Investments in affiliates are accounted for using the equity method. The Group does not control the affiliates but exerts significant influence over them. | |||||||||||||||||||
Cost Method Investments, Policy [Policy Text Block] | Other Non-current Assets | ||||||||||||||||||
Other non-current assets represent investments in equity security of private companies which the group owns equity interest of less than 20%, over which the Group exerts no significant influence and are measured initially at cost. As of December 31, 2012, the other non-current assets also included dividend receivable from Datong of RMB7,561, recorded at amortized cost after discounting with the effective interest rate. As of December 31, 2013, dividend receivable from Datong of RMB7,561 was fully impaired. | |||||||||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets | ||||||||||||||||||
Property, plant, and equipment, and purchased intangible assets with definite life, subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. | |||||||||||||||||||
Insurance Premium Payables [Policy Text Block] | Insurance Premium Payables | ||||||||||||||||||
Insurance premium payables are insurance premiums collected on behalf of insurance companies but not yet remitted as of the balance sheet dates. | |||||||||||||||||||
Subscription Receivables [Policy Text Block] | Subscription Receivables | ||||||||||||||||||
The Group entered into share purchase agreements with companies established on behalf of our employees (the "Employee Companies") for the issuance of 100,000,000 ordinary shares with US$0.27 per ordinary share and 50,000,000 ordinary shares with US$0.29 per ordinary share in 2014. The issue prices are the average closing prices for the 20 trading days prior to the board approval dates of such subscriptions. The sale of shares to the Employee Companies was completed on December 17, 2014.In order to facilitate the purchase of shares by employees as described above, the Group has granted a loan to the Employee Companies. The loan bears interest at a rate of 3% per annum and is repayable upon the sale of the shares by employees, termination of employment or within two years, whichever comes first. Please refer to note 12 for details. The interest rate is determined with reference to fair market prices and therefore no interest-related compensation expense is recorded.According to FASB ASC 505-10-45, the loan is recorded as a separate line of deduction from equity in the Group’s consolidated balance sheet as of December 31, 2014. Interest income accruing from the loan is recognized as non-operating income. None of the loans to employees have been repaid up to the date of this report and total balance thereof as of year-end was RMB257,491 (US$41,500). | |||||||||||||||||||
Income Tax, Policy [Policy Text Block] | Income Taxes | ||||||||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carryforwards and credits by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. | |||||||||||||||||||
In 2014, the Group has adopted FASB ASU No. 2013-11—Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists prospectively, to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the balance sheets as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the Group to use, and the Group does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit is presented in the balance sheets as a liability. | |||||||||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-based Compensation | ||||||||||||||||||
Employee share-based compensation | |||||||||||||||||||
All forms of share-based payments to employees, including employee stock options and employee stock purchase plans, are treated the same as any other form of compensation by recognizing the related cost in the consolidated statement of income and comprehensive income (loss). Compensation cost related to employee stock options or similar equity instruments is measured at the grant date based on the fair value of the award and is recognized over the service period, which is usually the vesting period. If an award requires satisfaction of one or more performance, or service conditions (or any combination thereof), compensation cost is recognized if the requisite service is rendered, and no compensation cost is recognized if the requisite service is not rendered. The Group recognizes compensation cost for an award with only service conditions that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award, provided that the amount of compensation cost recognized at any date must at least equal the portion of the grant-date value of the award that is vested at that date. For awards with both service and performance conditions, if each tranche has an independent performance condition for a specified period of service, the Group recognizes the compensation cost of each tranche as a separate award on a straight-line basis; if each tranche has performance conditions that are dependent of activities that occur in the prior service periods, the Group recognizes the compensation cost on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in-substance, multiple awards. No compensation cost is recognized for instruments that employees forfeit because a service condition or a performance condition is not satisfied. | |||||||||||||||||||
Non-employee share-based compensation | |||||||||||||||||||
Share-based compensation related to non-employees is recognized as compensation expenses ratably over the requisite service periods. The Group measures the cost of non-employee services received in exchange for share-based compensation based on the fair value of the equity instruments issued. The Group measures the fair value of the equity instruments in these transactions on the measurement date, which is determined as the earlier of the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or the date at which the counterparty’s performance is complete. The quantity and terms of the equity instruments issued to non-employees are not known up front as they are dependent upon counterparty performance conditions, the Group measures the equity instruments at their then-current lowest aggregate fair value at each reporting dates, and attributes the changes in those fair values over the future services period until the measurement date has been established. | |||||||||||||||||||
Modification of an Award | |||||||||||||||||||
A modification of the terms or conditions of an equity award is treated as an exchange of the original award for a new award. The Group measures the effects of a modification as follows: | |||||||||||||||||||
a. Incremental compensation cost shall be measured as the excess, if any, of the fair value of the modified award determined over the fair value of the original award immediately before its terms are modified, measured based on the share price and other pertinent factors at that date; and | |||||||||||||||||||
b. The total recognized compensation cost for an equity award shall at least equal the fair value of the award at the grant date unless at the date of the modification the performance or service conditions of the original award are not expected to be satisfied. | |||||||||||||||||||
The Group records the incremental fair-value-based measure, if any, of the modified award, as compensation cost on the date of modification (for vested awards) or over the remaining service (vesting) period (for unvested awards). | |||||||||||||||||||
Cancellation of an Award | |||||||||||||||||||
A cancellation of an award that is not accompanied by the concurrent grant of (or offer to grant) a replacement award or other valuable consideration shall be accounted for as a repurchase for no consideration. Accordingly, any previously unrecognized compensation cost shall be recognized at the cancellation date. | |||||||||||||||||||
The Group uses the Black-Scholes or the Binominal option-pricing model to determine the fair value of stock options. Determining the value of share-based compensation expense in future periods requires the input of highly subjective assumptions, including estimated forfeitures and the price volatility of the underlying shares. The Group estimates the forfeitures of the shares based on past employee retention rates and its expectations of future retention rates, and prospectively revises the forfeiture rates based on actual history. The share compensation charges may change based on changes to the actual forfeitures. The actual share-based compensation expenses may be materially different from the current expectations. | |||||||||||||||||||
Share-based compensation expenses of RMB66,878, RMB45,317 and RMB23,598 for the years ended December 31, 2012, 2013 and 2014, respectively, were included in the general and administrative expenses. | |||||||||||||||||||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Employee Benefit Plans | ||||||||||||||||||
As stipulated by the regulations of the PRC, the Group’s subsidiaries and VIEs in the PRC participate in various defined contribution plans organized by municipal and provincial governments for its employees. The Group is required to make contributions to these plans at a percentage of the salaries, bonuses and certain allowances of the employees. Under these plans, certain pension, medical and other welfare benefits are provided to employees. The Group has no other material obligation for the payment of employee benefits associated with these plans other than the annual contributions described above. The contributions are charged to the consolidated statement of income and comprehensive income (loss) as they become payable in accordance with the rules of the above mentioned defined contribution plans. | |||||||||||||||||||
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition | ||||||||||||||||||
The Group’s revenue is derived principally from the provision of insurance brokerage, agency and claims adjusting services. The Group recognizes revenue when all of the following have occurred: persuasive evidence of an agreement with the insurance companies or insurance agencies exists, services have been provided, the fees for such services are fixed or determinable and collectability of the fee is reasonably assured. | |||||||||||||||||||
Insurance agency services are considered to be rendered and completed, and revenue is recognized, at the time an insurance policy becomes effective, that is, when the signed insurance policy is in place and the premium is collected from the insured. The Group has met all the four criteria of revenue recognition when the premiums are collected by the Group or the respective insurance companies and not before, because collectability is not ensured until receipt of the premium. Accordingly, the Group does not accrue any commission and fees prior to the receipt of the related premiums. Insurance brokerage services revenue is recognized when the signed insurance policy is in place and the premium is collected from the insured and the commission settlement confirmation is received from insurance companies, because the commission rate for brokerage services is negotiated case by case and the Group’s fees are fixed when such confirmation is received. No allowance for cancellation has been recognized for agency and brokerage businesses as the management of the Group estimates, based on its past experience that the cancellation of policies rarely occurs. Any subsequent commission adjustments in connection with policy cancellations which have been de minims to date are recognized upon notification from the insurance carriers. Actual commission and fee adjustments in connection with the cancellation of policies were 0.1%, 0.2% and 0.2% of the total commission and fee revenues during years ended December 31, 2012, 2013 and 2014, respectively. For property insurance and life insurance, agency and brokerage services, the Group may receive a performance bonus from insurance companies as agreed and per contract provisions. Once an agency and brokerage company achieves its performance target, typically a certain sales volume, the bonus will become due. The bonus amount is computed based on the insurance premium amount multiplied by an agreed-upon percentage. The contingent commissions are recorded when a performance target is being achieved. Insurance claims adjusting services are considered to be rendered and completed, and revenue is recognized at the time loss adjusting reports are confirmed being received by insurance companies. The Group has met all the four criteria of revenue recognition when the service is provided and the loss adjusting report is accepted by insurance companies. The Group does not accrue any service fee before the receipt of an insurance company’s acknowledgement of receiving the adjusting reports. Any subsequent adjustments in connection with discounts which have been de minims to date are recognized in revenue upon notification from the insurance companies. | |||||||||||||||||||
Other service fees include commission revenues earned from distribution of wealth management products and revenue from the provision of IT services. Commission from distribution of wealth management products are recorded when the products have been sold to customers, at which time the Group has fulfilled all its services obligations. Revenue from the provision of IT services is recognized when the services are rendered. | |||||||||||||||||||
The Group presents revenue net of sales taxes incurred. The sales taxes amounted to RMB99,001, RMB99,931 and RMB120,965 for the years ended December 31, 2012, 2013 and 2014, respectively. According to the Announcement on the VAT Reform Pilot Program of the Transportation and Selected Modern Service Sectors issued by the State Tax Bureau in July 2012, the transportation and some selected modern service sectors, including research and development (R&D) and technical services, information technology services, cultural creative services, logistics support services, tangible personal property leasing services, and assurance and consulting service, should pay value-added tax instead of business tax based on a predetermined timetable (hereinafter referred to as the “VAT Reform”), effective September 1, 2012 for entities in Beijing and November 1, 2012 for entities in Guangdong. The VAT Reform expanded nation-wide from August 1, 2013. A total of seven subsidiaries or VIEs in the Group that engage in consulting and information technology services met the VAT Reform requirements, and have started to pay value-added tax since the respectively effective days. Total Value-added taxes paid by the Group during the year ended December 31, 2013 and 2014 amounted to RMB12,013 and RMB14,997. | |||||||||||||||||||
Business Combinations Policy [Policy Text Block] | Contingent Consideration | ||||||||||||||||||
The Group recognizes all the assets acquired and liabilities assumed in a business combination at the acquisition-date fair values, which will include an estimation of the fair value of contingent consideration payables if any. Subsequent changes in the fair value of contingent consideration payables will be recorded in the consolidated statement of income and comprehensive income (loss) when incurred. No change in fair value of contingent consideration payable was charged to consolidated statement of income and comprehensive income (loss) for the years ended December 31, 2012, 2013 and 2014. | |||||||||||||||||||
The selling shareholders of the acquired entities agreed to return part of considerations to the Group, if certain performance criteria cannot be met. The fair value of such contingent arrangements was charged to consolidated statement of income and comprehensive income (loss) in the amount of RMB4,500, nil and nil for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments. | ||||||||||||||||||
Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows: | |||||||||||||||||||
Level 1-inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. | |||||||||||||||||||
Level 2-inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||
Level 3-inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. | |||||||||||||||||||
The carrying amounts of accounts receivable, insurance premium receivables, other receivables, accounts payable, other payables, amounts due from (to) related parties and insurance premium payables are approximate their fair values due to the short-term maturity of these instruments. | |||||||||||||||||||
Measured at fair value on a recurring basis | |||||||||||||||||||
The Group measured its short-term investments at fair value on a recurring basis as of December 31, 2013 and 2014. | |||||||||||||||||||
Short-term investments are measured at costs which approximate their fair values in the consolidated balance sheets. The Group benchmarks the costs against fair values of comparable investments as of balance sheet date, and categorized all fair value measures of short term investments as Level 2 of the fair value hierarchy. The fair value of the Company's short-term investments measured at recurring basis was RMB253,900 and RMB688,900, as of December 31, 2013 and 2014 respectively, all classified as Level 2 with fair value measurement at reporting date using significant other observable inputs. | |||||||||||||||||||
The Group did not have Level 3 investments as of December 31, 2013 and 2014. | |||||||||||||||||||
Measured at fair value on a non-recurring basis | |||||||||||||||||||
Goodwill and intangible assets are measured at fair value on a nonrecurring basis and they are recorded at fair value only when impairment is recognized. | |||||||||||||||||||
The Group measures certain assets, including the cost method investments, equity method investments and intangible assets, at fair value on a nonrecurring basis when they are deemed to be impaired. The fair values of these investments and intangible assets are determined based on valuation techniques using the best information available, and may include management judgments, future performance projections, etc. An impairment charge to these investments is recorded when the cost of the investment exceeds its fair value and this condition is determined to be other-than-temporary, and impairment charge to the intangible assets is recorded when their carrying amounts may not be recoverable. | |||||||||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currencies | ||||||||||||||||||
The functional currency of the Company is the United States dollar ("USD"). Assets and liabilities are translated at the exchange rates at the balance sheet date, equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income or loss in the consolidated statements of income and comprehensive income (loss). The Group has chosen the Renminbi ("RMB") as their reporting currency. | |||||||||||||||||||
The functional currency of the most of the Company’s subsidiaries and VIEs is RMB. Transactions in other currencies are recorded in RMB at the rates of exchange prevailing when the transactions occur. Monetary assets and liabilities denominated in other currencies are translated into RMB at rates of exchange in effect at the balance sheet dates. Exchange gains and losses are recorded in the consolidated statements of income and comprehensive income (loss). | |||||||||||||||||||
Foreign Currency Risk [Policy Text Block] | Foreign Currency Risk | ||||||||||||||||||
The RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of RMB into foreign currencies. The value of RMB is subject to changes in central government policies and international economic and political developments that affect supply and demand in the China Foreign Exchange Trading System market of cash and cash equivalents. The Group had aggregate amounts of RMB2,262,712 and RMB2,080,842 of cash and cash equivalents denominated in RMB as of December 31, 2013 and 2014, respectively. | |||||||||||||||||||
Translation Into United States Dollars [Policy Text Block] | Translation into United States Dollars | ||||||||||||||||||
The consolidated financial statements of the Group are stated in RMB. Translations of amounts from RMB into U.S. dollars are solely for the convenience of the readers and were calculated at the rate of US$1.00 =MB6.2046, representing the noon buying rate in the City of New York for cable transfers of RMB on December 31, 2014, as set forth in H.10 statistical release of the Federal Reserve Board. The translation is not intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on December 31, 2014, or at any other rate. | |||||||||||||||||||
Segment Reporting, Policy [Policy Text Block] | Segment Reporting | ||||||||||||||||||
The Group distributes a variety of property and casualty, and life insurance products underwritten by domestic and foreign insurance companies operating in the PRC, and provides insurance claims adjusting services as well as other insurance-related services and distribution of wealth management products. Before January 1, 2014, the Group operated three operating segments: (1) property and casualty insurance ("P&C"), (2) life insurance ("Life"), and (3) insurance claims adjusting services ("Claims Adjusting"). From January 1, 2014, the Group realigned its financial reporting structure into three business segments that more accurately reflect its organizational structure and changing business mix. Historical results reflecting the new business segments for the corresponding period of the previous year have been restated. The new business segments are as follows: (1) insurance agency segment, which mainly consists of providing agency services for P&C insurance products and life insurance products to individual clients, (2) insurance brokerage segment, which mainly consists of providing P&C and life insurance brokerage services to institutional clients, and (3) claims adjusting segment, which consists of providing pre-underwriting survey, claim adjusting, disposal of residual value, loading and unloading supervision and consulting services. Details of these operating segments are described in note 21. Operating segments are defined as components of an enterprise about which separate financial information is available and evaluated regularly by the Group's chief operating decision maker in deciding how to allocate resources and in assessing performance. | |||||||||||||||||||
Substantially all revenues are derived in the PRC and all long-lived assets are located in the PRC. | |||||||||||||||||||
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share ("EPS") or ADS | ||||||||||||||||||
Basic EPS is calculated by dividing the net income available to common shareholders by the weighted average number of ordinary shares /ADS outstanding during the year. Diluted EPS is calculated by using the weighted average number of ordinary shares /ADS outstanding adjusted to include the potentially dilutive effect of outstanding share-based awards, unless their inclusion in the calculation is anti-dilutive. | |||||||||||||||||||
Advertising Costs, Policy [Policy Text Block] | Advertising Costs | ||||||||||||||||||
Advertising costs are expensed as incurred. Advertising costs amounted to RMB5,048, RMB5,724 and RMB6,553 for the years ended December 31, 2012, 2013 and 2014, respectively. | |||||||||||||||||||
Lease, Policy [Policy Text Block] | Operating Leases | ||||||||||||||||||
Leases where substantially all the rewards and risks of ownership of assets remain with the leasing company are accounted for as operating leases. Payments made under operating leases are charged to the consolidated statements of income and comprehensive income (loss) over the lease period. | |||||||||||||||||||
Stockholders' Equity, Policy [Policy Text Block] | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||
The Group presents comprehensive income in the consolidated statements of income and comprehensive income (loss) with net income in a continuous statement. | |||||||||||||||||||
Accumulated other comprehensive income (loss) represents foreign currency translation adjustments for the period. | |||||||||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards | ||||||||||||||||||
In May 2014, the FASB issued a new pronouncement which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles—Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. | |||||||||||||||||||
The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: | |||||||||||||||||||
· | Step 1: Identify the contract(s) with a customer. | ||||||||||||||||||
· | Step 2: Identify the performance obligations in the contract. | ||||||||||||||||||
· | Step 3: Determine the transaction price. | ||||||||||||||||||
· | Step 4: Allocate the transaction price to the performance obligations in the contract. | ||||||||||||||||||
· | Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. | ||||||||||||||||||
For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. | |||||||||||||||||||
An entity should apply the amendments in this ASU using one of the following two methods: | |||||||||||||||||||
1. Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients: | |||||||||||||||||||
· | For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period. | ||||||||||||||||||
· | For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods. | ||||||||||||||||||
· | For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue. | ||||||||||||||||||
2. Retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also should provide the additional disclosures in reporting periods that include the date of initial application of: | |||||||||||||||||||
· | The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change. | ||||||||||||||||||
· | An explanation of the reasons for significant changes. | ||||||||||||||||||
The Group is in the process of assessing the impact of adoption of this pronouncement on its consolidated financial condition or results from operations. | |||||||||||||||||||
In June 2014, the FASB issued a new pronouncement which requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation – Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. | |||||||||||||||||||
The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. | |||||||||||||||||||
Entities may apply the amendments in this ASU either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this ASU as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. In addition, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Group does not expect the adoption of this pronouncement to have a significant impact on its consolidated financial condition or results from operations. | |||||||||||||||||||
In January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement - Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. | |||||||||||||||||||
If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. | |||||||||||||||||||
The FASB heard from stakeholders that the concept of extraordinary items causes uncertainty because it is unclear when an item should be considered both unusual and infrequent. Additionally, some stakeholders said that although users find information about unusual or infrequent events and transactions useful, they do not find the extraordinary item classification and presentation necessary to identify those events and transactions. Other stakeholders noted that it is extremely rare in current practice for a transaction or event to meet the requirements to be presented as an extraordinary item. | |||||||||||||||||||
The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Group does not expect the adoption of this pronouncement to have a significant impact on its consolidated financial condition or results from operations. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | As of December 31, | ||||||||||||||||||
2013 | 2014 | ||||||||||||||||||
RMB | RMB | ||||||||||||||||||
Accounts receivable | 212,137 | 202,737 | |||||||||||||||||
Allowance for doubtful accounts | (12,655 | ) | (16,587 | ) | |||||||||||||||
Accounts receivable, net | 199,482 | 186,150 | |||||||||||||||||
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | 2012 | 2013 | 2014 | ||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||
Balance at the beginning of the year | 9,348 | 9,903 | 12,655 | ||||||||||||||||
Provision for doubtful accounts | 4,523 | 5,303 | 3,932 | ||||||||||||||||
Write-offs | (3,968 | ) | (2,551 | ) | — | ||||||||||||||
Balance at the ending of the year | 9,903 | 12,655 | 16,587 | ||||||||||||||||
Property, Plant and Equipment, Estimated Useful Lives [Table Text Block] | Estimated useful | Estimated residual | |||||||||||||||||
life (Years) | value | ||||||||||||||||||
Building | 20 | - | 36 | 0% | |||||||||||||||
Office equipment, furniture and fixtures | 3 | - | 5 | 0% | - | 3% | |||||||||||||
Motor vehicles | 5 | - | 10 | 0% | - | 3% | |||||||||||||
Leasehold improvements | 5 | 0% | |||||||||||||||||
Schedule of Depreciation [Table Text Block] | 2012 | 2013 | 2014 | ||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||
Commission and fees under operating costs | 3,585 | 4,988 | 5,508 | ||||||||||||||||
Selling expenses | 1,880 | 1,636 | 1,282 | ||||||||||||||||
General and administrative expenses | 20,884 | 24,629 | 21,445 | ||||||||||||||||
Depreciation for the year | 26,349 | 31,253 | 28,235 | ||||||||||||||||
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block] | As of December 31, 2013 | ||||||||||||||||||
Useful | Cost | Accumulated amortization | Accumulated | Net carrying | |||||||||||||||
life | Impairment | values | |||||||||||||||||
(Years) | loss | ||||||||||||||||||
RMB | RMB | RMB | RMB | ||||||||||||||||
Brand name | Indefinite | 24,091 | — | (20,384 | ) | 3,707 | |||||||||||||
Trade name | 9.4 | to | 10 | 8,898 | (2,925 | ) | — | 5,973 | |||||||||||
Customer relationship | 4.6 | to | 9.8 | 54,706 | (39,738 | ) | (5,760 | ) | 9,208 | ||||||||||
Non-compete agreement | 3 | to | 6.25 | 68,215 | (29,835 | ) | (34,692 | ) | 3,688 | ||||||||||
Agency agreement and license | 4.6 | to | 9.8 | 16,004 | (10,989 | ) | (581 | ) | 4,434 | ||||||||||
Software and system | 5 | to | 10 | 5,740 | (3,635 | ) | — | 2,105 | |||||||||||
177,654 | (87,122 | ) | (61,417 | ) | 29,115 | ||||||||||||||
As of December 31, 2014 | |||||||||||||||||||
Useful | Cost | Accumulated amortization | Accumulated | Net carrying | |||||||||||||||
life | Impairment loss | values | |||||||||||||||||
(Years) | |||||||||||||||||||
RMB | RMB | RMB | RMB | ||||||||||||||||
Brand name | Indefinite | 24,091 | — | (20,384 | ) | 3,707 | |||||||||||||
Trade name | 9.4 | to | 10 | 8,898 | (3,867 | ) | — | 5,031 | |||||||||||
Customer relationship | 4.6 | to | 9.8 | 67,096 | (48,012 | ) | (5,760 | ) | 13,324 | ||||||||||
Non-compete agreement | 3 | to | 6.25 | 69,485 | (32,557 | ) | (34,692 | ) | 2,236 | ||||||||||
Agency agreement and license | 4.6 | to | 9.8 | 21,394 | (14,789 | ) | (581 | ) | 6,024 | ||||||||||
Software and system | 5 | to | 10 | 5,999 | (4,723 | ) | — | 1,276 | |||||||||||
196,963 | (103,948 | ) | (61,417 | ) | 31,598 |
Note_3_Acquisitions_Tables
Note 3 - Acquisitions (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Nanjing | Wenzhou | Jiaxing | ||||||||||||||
RMB | RMB | RMB | |||||||||||||||
Net tangible assets (liabilities) acquired | (4,116 | ) | 2,708 | 3,670 | |||||||||||||
Intangible assets | 7,650 | 4,110 | 7,290 | ||||||||||||||
Goodwill | 23,850 | 10,209 | 20,862 | ||||||||||||||
Deferred tax assets | 1,529 | — | — | ||||||||||||||
Deferred tax liabilities | (1,913 | ) | (1,027 | ) | (1,822 | ) | |||||||||||
Total consideration | 27,000 | 16,000 | 30,000 | ||||||||||||||
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Useful life | Fair Value Acquired | |||||||||||||||
RMB | |||||||||||||||||
(Years) | Nanjing | Wenzhou | Jiaxing | ||||||||||||||
Customer relationship | 6.7 | 4,840 | 2,920 | 4,630 | |||||||||||||
Non-compete agreement | 3 | 520 | 270 | 480 | |||||||||||||
Agency agreement | 6 | 2,290 | 920 | 2,180 | |||||||||||||
Total | 7,650 | 4,110 | 7,290 | ||||||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | Nanjing | Wenzhou | Jiaxing | ||||||||||||||
RMB | RMB | RMB | |||||||||||||||
(unaudited) | (unaudited) | (unaudited) | |||||||||||||||
Pro forma net revenues | 1,769,665 | 1,769,428 | 1,780,360 | ||||||||||||||
Pro forma income from operations | 16,561 | 17,531 | 16,348 | ||||||||||||||
Pro forma net income | 94,541 | 95,289 | 94,215 | ||||||||||||||
Pro forma net income per share | 0.09 | 0.1 | 0.09 | ||||||||||||||
Nanjing | Wenzhou | Jiaxing | |||||||||||||||
RMB | RMB | RMB | |||||||||||||||
(unaudited) | (unaudited) | (unaudited) | |||||||||||||||
Pro forma net revenues | 2,159,466 | 2,155,319 | 2,163,231 | ||||||||||||||
Pro forma income from operations | 30,612 | 30,840 | 31,355 | ||||||||||||||
Pro forma net income | 161,580 | 161,736 | 162,318 | ||||||||||||||
Pro forma net income per share | 0.16 | 0.16 | 0.16 |
Note_4_Other_Receivables_Table
Note 4 - Other Receivables (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Schedule of Other Receivables [Table Text Block] | As of December 31, | ||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Advances to staff (i) | 9,494 | 8,159 | |||||||
Advances to entrepreneurial agents (ii) | 1,984 | 981 | |||||||
Rental deposits | 6,213 | 5,701 | |||||||
Interest income receivables (iii) | 47,273 | 46,472 | |||||||
Value-added tax recoverable (iv) | 1,867 | 2,786 | |||||||
Receivable from third parties(v) | 141,938 | 17,020 | |||||||
Reimbursement from insurance company (vi) | 40,106 | — | |||||||
Other | 5,901 | 7,030 | |||||||
254,776 | 88,149 |
Note_5_Property_Plant_and_Equi1
Note 5 - Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | As of December 31, | ||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Building | 11,346 | 12,317 | |||||||
Office equipment, furniture and fixtures | 127,849 | 127,498 | |||||||
Motor vehicles | 40,039 | 35,229 | |||||||
Leasehold improvements | 9,033 | 10,817 | |||||||
Total | 188,267 | 185,861 | |||||||
Less: Accumulated depreciation | (118,705 | ) | (138,690 | ) | |||||
Property, plant and equipment, net | 69,562 | 47,171 |
Note_6_Goodwill_Tables
Note 6 - Goodwill (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||
Schedule of Goodwill [Table Text Block] | Agency | ||||||||||||
segment | |||||||||||||
RMB | |||||||||||||
Balance as of January 1, 2013 & 2014 | 78,553 | ||||||||||||
Addition for acquisitions in 2014 | 54,921 | ||||||||||||
Balance as of December 31, 2014 | 133,474 | ||||||||||||
Schedule of Goodwill Gross and Accumulated Impairment Loss [Table Text Block] | Agency | Claims Adjusting segment | Total | ||||||||||
segment | |||||||||||||
RMB | RMB | RMB | |||||||||||
Goodwill, gross as of January 1, 2013 | 1,041,181 | 38,077 | 1,079,258 | ||||||||||
Accumulated impairment loss | (962,628 | ) | (38,077 | ) | (1,000,705 | ) | |||||||
Goodwill, net as of December 31, 2013 | 78,553 | — | 78,553 | ||||||||||
Goodwill, gross as of January 1, 2014 | 1,096,102 | 38,077 | 1,134,179 | ||||||||||
Accumulated impairment loss | (962,628 | ) | (38,077 | ) | (1,000,705 | ) | |||||||
Goodwill, net as of December 31, 2014 | 133,474 | — | 133,474 |
Note_7_Investment_in_Affiliate1
Note 7 - Investment in Affiliates (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Note 7 - Investment in Affiliates (Tables) [Line Items] | |||||||||||||
Equity Method Investments [Table Text Block] | As of December 31, | ||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Teamhead Automobile | 473 | 498 | |||||||||||
Jiaxing | 192 | — | |||||||||||
Sincere Fame | 188,576 | 219,205 | |||||||||||
Total | 189,241 | 219,703 | |||||||||||
Income Statement [Member] | |||||||||||||
Note 7 - Investment in Affiliates (Tables) [Line Items] | |||||||||||||
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | Year Ended December 31, | ||||||||||||
2012 | 2013 | 2014 | |||||||||||
Results of operation | RMB | RMB | RMB | ||||||||||
Net Revenues | 328,385 | 365,521 | 403,908 | ||||||||||
Gross profit | 240,644 | 295,954 | 346,688 | ||||||||||
Income from operations | 89,963 | 139,211 | 184,531 | ||||||||||
Net profit | 73,869 | 116,674 | 148,891 | ||||||||||
Balance Sheet [Member] | |||||||||||||
Note 7 - Investment in Affiliates (Tables) [Line Items] | |||||||||||||
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block] | As of December 31, | ||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Balance sheet | |||||||||||||
Current assets | 641,314 | 364,045 | |||||||||||
Non-current assets | 556,067 | 1,335,315 | |||||||||||
Current liabilities | 582,734 | 929,731 | |||||||||||
Non-current liabilities | 1,057 | 2,904 |
Note_8_Variable_Interest_Entit1
Note 8 - Variable Interest Entities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Statement [Member] | |||||||||||||
Note 8 - Variable Interest Entities (Tables) [Line Items] | |||||||||||||
Schedule of Variable Interest Entities [Table Text Block] | Year Ended December 31, | ||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Net Revenues | 374,529 | 125,961 | 72,645 | ||||||||||
Net loss | (4,755 | ) | (3,767 | ) | (9,636 | ) | |||||||
Net cash used in operating activities | (34,601 | ) | (13,500 | ) | (49,782 | ) | |||||||
Net cash generated from investing activities | 81,593 | 12,041 | 14,709 | ||||||||||
Net cash (used in) generated from financing activities | (38,305 | ) | — | 33,370 | |||||||||
Balance Sheet [Member] | |||||||||||||
Note 8 - Variable Interest Entities (Tables) [Line Items] | |||||||||||||
Schedule of Variable Interest Entities [Table Text Block] | As of December 31, | ||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Total assets | 114,232 | 63,090 | |||||||||||
Total liabilities | 110,133 | 38,716 |
Note_9_Other_Payables_and_Accr1
Note 9 - Other Payables and Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | As of December 31, | ||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Business and other tax payable | 28,313 | 24,987 | |||||||
Refundable deposits from employees and agents | 12,452 | 9,705 | |||||||
Professional fees | 11,818 | 17,340 | |||||||
Advances from third parties | 22,490 | 32,219 | |||||||
Payables for addition of office equipment, furniture and fixtures | 8,618 | 8,618 | |||||||
Insurance compensation claim payable to customers | 1,487 | 1,563 | |||||||
Payable for equity transfers of investment in affiliates/subsidiaries | 15,006 | 4,685 | |||||||
Consideration payable to settle the lawsuit (i) | 40,106 | — | |||||||
Contributions from members of eHuzhu mutual aid program | — | 2,341 | |||||||
Others | 7,664 | 7,954 | |||||||
Total | 147,954 | 109,412 |
Note_11_Income_Taxes_Tables
Note 11 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | RMB | ||||||||||||
Balance as of January 1, 2012 | 43,586 | ||||||||||||
Gross increase in prior-period tax positions | 4,003 | ||||||||||||
Balance as of December 31, 2012 | 47,589 | ||||||||||||
Gross increase in prior-period tax positions | 3,146 | ||||||||||||
Balance as of December 31, 2013 | 50,735 | ||||||||||||
Offset per FASB ASU No. 2013-11—Income Taxes (Topic 740) | (4,808 | ) | |||||||||||
Gross increase in prior-period tax positions | 7,928 | ||||||||||||
Balance as of December 31, 2014 | 53,855 | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, | ||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Current tax expense | 56,467 | 29,436 | 25,607 | ||||||||||
Deferred tax income | (6,094 | ) | (2,278 | ) | (1,318 | ) | |||||||
Income tax expense | 50,373 | 27,158 | 24,289 | ||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, | ||||||||||||
2013 | 2014 | ||||||||||||
RMB | RMB | ||||||||||||
Current deferred tax assets: | |||||||||||||
Operating loss carryforward | 4,858 | 4,313 | |||||||||||
Less: valuation allowances | — | (4,313 | ) | ||||||||||
Current deferred tax asset, net | 4,858 | — | |||||||||||
Non-current deferred tax assets: | |||||||||||||
Operating loss carryforward | 36,053 | 33,930 | |||||||||||
Less: valuation allowances | (32,671 | ) | (31,292 | ) | |||||||||
Non-current deferred tax asset, net | 3,382 | 2,638 | |||||||||||
Total | 8,240 | 2,638 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangible assets, net | 5,646 | 6,769 | |||||||||||
Investment income | 18,162 | 18,162 | |||||||||||
Total | 23,808 | 24,931 | |||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, | ||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Net income before income taxes and income of affiliates and discontinued operations | 160,452 | 106,521 | 159,720 | ||||||||||
PRC statutory tax rate | 25 | % | 25 | % | 25 | % | |||||||
Income tax at statutory tax rate | 40,113 | 26,630 | 39,930 | ||||||||||
Expenses not deductible for tax purposes: | |||||||||||||
Entertainment | 668 | 494 | 579 | ||||||||||
Other | 3,312 | 1,635 | 1,664 | ||||||||||
Tax exemption and tax relief: | |||||||||||||
Tax rate differential | (3,947 | ) | (16,347 | ) | (29,497 | ) | |||||||
Change in valuation allowance | 5,003 | 13,812 | 2,934 | ||||||||||
Uncertain tax provisions | 4,003 | 3,148 | 7,928 | ||||||||||
Other | 1,221 | (2,214 | ) | 751 | |||||||||
Income tax expense | 50,373 | 27,158 | 24,289 |
Note_13_Net_Income_Loss_Per_Sh1
Note 13 - Net Income (Loss) Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, | ||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Basic: | |||||||||||||
Net income | 124,737 | 99,984 | 166,080 | ||||||||||
Less: Net (loss) income attributable to the noncontrolling interests | (5,773 | ) | 4,341 | 4,320 | |||||||||
Net income attributable to the Company’s shareholders | 130,510 | 95,643 | 161,760 | ||||||||||
Weighted average number of ordinary shares outstanding | 1,002,308,275 | 998,861,526 | 1,005,842,212 | ||||||||||
Basic net income per ordinary share | 0.13 | 0.1 | 0.16 | ||||||||||
Basic net income per ADS | 2.6 | 1.92 | 3.22 | ||||||||||
Diluted: | |||||||||||||
Net income | 124,737 | 99,984 | 166,080 | ||||||||||
Less: Net (loss) income attributable to the noncontrolling interests | (5,773 | ) | 4,341 | 4,320 | |||||||||
Net income attributable to the Company’s shareholders | 130,510 | 95,643 | 161,760 | ||||||||||
Weighted average number of ordinary shares outstanding | 1,002,308,275 | 998,861,526 | 1,005,842,212 | ||||||||||
Share options | 2,993,694 | 1,708,492 | 6,749,175 | ||||||||||
Total | 1,005,301,969 | 1,000,570,018 | 1,012,591,387 | ||||||||||
Diluted net income per ordinary share | 0.13 | 0.1 | 0.16 | ||||||||||
Diluted net income per ADS | 2.6 | 1.91 | 3.19 |
Note_15_Related_Party_Balances1
Note 15 - Related Party Balances and Transactions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Schedule of Related Party Transactions [Table Text Block] | As of December 31, | ||||||||
2013 | 2014 | ||||||||
RMB | RMB | ||||||||
Amount due from an affiliate and its subsidiaries, net (i) | 144,371 | 209,601 | |||||||
Subscription receivables(note 2(m) & note 12) | — | 257,491 |
Note_16_Commitments_and_Contin1
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum Lease | ||||
Payment | |||||
RMB | |||||
Year ending December 31: | |||||
2015 | 20,598 | ||||
2016 | 15,203 | ||||
2017 | 6,028 | ||||
2018 | 516 | ||||
2019 | 111 | ||||
Total | 42,456 |
Note_17_Concentrations_of_Cred1
Note 17 - Concentrations of Credit Risk (Tables) (Customer Concentration Risk [Member]) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Sales [Member] | |||||||||||||||||||||||||
Note 17 - Concentrations of Credit Risk (Tables) [Line Items] | |||||||||||||||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year ended December 31, | ||||||||||||||||||||||||
2012 | % of sales | 2013 | % of sales | 2014 | % of sales | ||||||||||||||||||||
RMB | RMB | RMB | |||||||||||||||||||||||
PICC Property and Casualty Company Limited ("PICC") | 330,699 | 21 | % | 346,405 | 20 | % | 442,608 | 21 | % | ||||||||||||||||
Ping An Property & Casualty Insurance Company of China, Ltd. ("Ping An"). | 185,595 | 12 | % | 248,102 | 14 | % | 294,228 | 14 | % | ||||||||||||||||
China Pacific Property Insurance Co., Ltd. ("CPIC") | 208,797 | 13 | % | 204,983 | 12 | % | 255,655 | 12 | % | ||||||||||||||||
725,091 | 46 | % | 799,490 | 46 | % | 992,491 | 47 | % | |||||||||||||||||
Accounts Receivable [Member] | |||||||||||||||||||||||||
Note 17 - Concentrations of Credit Risk (Tables) [Line Items] | |||||||||||||||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | As of December 31, | ||||||||||||||||||||||||
2013 | % | 2014 | % | ||||||||||||||||||||||
RMB | RMB | ||||||||||||||||||||||||
PICC. | 41,375 | 21 | % | 32,117 | 17 | % | |||||||||||||||||||
Ping An. | 18,817 | 9 | % | 28,903 | 16 | % | |||||||||||||||||||
CPIC | 20,654 | 10 | % | 22,927 | 12 | % | |||||||||||||||||||
80,846 | 40 | % | 83,947 | 45 | % |
Note_18_NonCash_Transactions_T
Note 18 - Non-Cash Transactions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||
Schedule of Other Significant Noncash Transactions [Table Text Block] | Year ended December 31, | ||||||||||||
2012 | 2013 | 2014 | |||||||||||
RMB | RMB | RMB | |||||||||||
Considerations payable in connection with acquisition of subsidiaries | 96 | — | — | ||||||||||
Considerations payable in connection with other investment | 3,030 | 3,720 | — | ||||||||||
Payables for addition of office equipment, furniture and fixtures | 38,537 | — | — | ||||||||||
Subscription receivables from employee companies(Note 2(m) & Note 12) | — | — | 257,491 |
Note_19_Sharebased_Compensatio1
Note 19 - Share-based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Note 19 - Share-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of | Weighted | Aggregate | ||||||||||||||
options | average | Intrinsic Value | |||||||||||||||
exercise price in | RMB | ||||||||||||||||
RMB | |||||||||||||||||
Outstanding as of January1, 2012 | 37,111,101 | 1.99 | 7,070 | ||||||||||||||
Granted on March 12, 2012 | 96,645,000 | 1.9 | |||||||||||||||
Exercised | (183,380 | ) | 1.95 | ||||||||||||||
Forfeited | (411,490 | ) | 2.09 | ||||||||||||||
Outstanding as of December 31, 2012 | 133,161,231 | 1.92 | 15,436 | ||||||||||||||
Forfeited | (1,431,734 | ) | 1.96 | ||||||||||||||
Outstanding as of December 31, 2013 | 131,729,497 | 1.92 | 15,436 | ||||||||||||||
Exercised | (1,704,380 | ) | 2.09 | ||||||||||||||
Forfeited | (2,113,656 | ) | 1.92 | ||||||||||||||
Modification of the 2012 Options | (45,663,861 | ) | 1.9 | ||||||||||||||
Outstanding as of December 31, 2014 | 82,247,600 | 1.9 | 10,177 | ||||||||||||||
Exercisable as of December 31, 2014 | 65,234,609 | 1.94 | 7,517 | ||||||||||||||
Schedule of Share-based Compensation Options, Grants in Period Grant Date Fair Value and Intrinsic Value [Table Text Block] | Year ended December 31, | ||||||||||||||||
2012 | 2013 | 2014 | |||||||||||||||
RMB | RMB | RMB | |||||||||||||||
Weighted-average grant-date fair value per share of options granted | 1.48 | — | — | ||||||||||||||
Total intrinsic value of options exercised | 74 | — | 837 | ||||||||||||||
Total fair value of share options vested | 30,513 | 34,362 | 44,912 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Options outstanding | Weighted | Weighted | Options Exercisable | |||||||||||||
average | average | ||||||||||||||||
remaining | exercise price | ||||||||||||||||
contractual life | in RMB | ||||||||||||||||
(Years) | |||||||||||||||||
2012 Options G | 45,876,692 | 7.3 | 0.006 | 29,663,817 | |||||||||||||
2012 Options H | 1,370,428 | 7.3 | 0.006 | 570,312 | |||||||||||||
2009 Options | 7,000,000 | 3 | 2.3 | 7,000,000 | |||||||||||||
2008 Options | 28,000,480 | 3 | 1.9 | 28,000,480 | |||||||||||||
Total | 82,247,600 | 65,234,609 | |||||||||||||||
Options 2012 Plan G [Member] | |||||||||||||||||
Note 19 - Share-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option G1 | Option G2 | Option G3 | Option G4 | Option G5 | ||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | 0% | 0% | ||||||||||||
Risk-free interest rate | 2.02% | 2.16% | 2.29% | 2.42% | 2.55% | ||||||||||||
Expected life (years) | 5.11 | 5.61 | 6.11 | 6.61 | 7.11 | ||||||||||||
Expected volatility | 74.54% | 74.54% | 74.54% | 74.54% | 74.54% | ||||||||||||
Options 2012 Plan H [Member] | |||||||||||||||||
Note 19 - Share-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option H2 | Option H3 | Option H6 | ||||||||||||||
Stock price per ordinary shares | US$0.30 | US$0.30 | US$0.30 | ||||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | ||||||||||||||
Risk-free interest rate | 1.43% | 1.60% | 1.43% | ||||||||||||||
Expected life (years) | 4.81 | 5.31 | 4.81 | ||||||||||||||
Expected volatility | 60.32% | 64.83% | 60.32% | ||||||||||||||
Options 2009 Plan [Member] | |||||||||||||||||
Note 19 - Share-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option D1 | Option D2 | Option D3 | Option D4 | |||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | 0% | |||||||||||||
Risk-free interest rate | 3.35% | 3.51% | 3.55% | 3.61% | |||||||||||||
Expected life (years) | 3.56 | 4.06 | 4.56 | 5.06 | |||||||||||||
Expected volatility | 33.00% | 31.90% | 32.20% | 31.20% | |||||||||||||
Options 2008 Plan [Member] | |||||||||||||||||
Note 19 - Share-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option C1 | Option C2 | Option C3 | Option C4 | |||||||||||||
Weight average assumptions – expected dividend yield | 0% | 0% | 0% | 0% | |||||||||||||
Risk-free interest rate | 3.70% | 3.71% | 3.93% | 4.07% | |||||||||||||
Expected life (years) | 3.86 | 4.36 | 4.86 | 5.36 | |||||||||||||
Expected volatility | 28.20% | 28.90% | 28.00% | 27.60% | |||||||||||||
Options 2007 Plan A [Member] | |||||||||||||||||
Note 19 - Share-based Compensation (Tables) [Line Items] | |||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Weighted average assumptions—expected dividend yield | 0% | |||||||||||||||
Risk-free interest rate | 2.71% | ||||||||||||||||
Expected life (years) | 5.6 | ||||||||||||||||
Expected volatility | 28.50% |
Note_21_Segment_Reporting_Tabl
Note 21 - Segment Reporting (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended December 31, | ||||||||||||||||
2012 | 2013 | 2014 | 2014 | ||||||||||||||
RMB | RMB | RMB | US$ | ||||||||||||||
Net revenues | |||||||||||||||||
Agency | 1,305,310 | 1,418,512 | 1,624,410 | 261,807 | |||||||||||||
Brokerage | 48,855 | 63,418 | 232,620 | 37,492 | |||||||||||||
Claims Adjusting | 217,497 | 261,206 | 292,981 | 47,220 | |||||||||||||
Others | 14,455 | 13,888 | — | — | |||||||||||||
Total net revenues | 1,586,117 | 1,757,024 | 2,150,011 | 346,519 | |||||||||||||
Operating costs and expenses | |||||||||||||||||
Agency | (1,138,083 | ) | (1,305,306 | ) | (1,486,871 | ) | (239,640 | ) | |||||||||
Brokerage | (34,474 | ) | (53,719 | ) | (197,017 | ) | (31,753 | ) | |||||||||
Claims Adjusting | (186,695 | ) | (234,129 | ) | (275,539 | ) | (44,409 | ) | |||||||||
Other | (161,039 | ) | (145,884 | ) | (159,685 | ) | (25,737 | ) | |||||||||
Total operating costs and expenses | (1,520,291 | ) | (1,739,038 | ) | (2,119,112 | ) | (341,539 | ) | |||||||||
Income (loss) from operations | |||||||||||||||||
Agency | 167,227 | 113,206 | 137,539 | 22,167 | |||||||||||||
Brokerage | 14,381 | 9,699 | 35,603 | 5,739 | |||||||||||||
Claims Adjusting | 30,802 | 27,077 | 17,442 | 2,811 | |||||||||||||
Other | (146,584 | ) | (131,996 | ) | (159,685 | ) | (25,737 | ) | |||||||||
Total income from operations | 65,826 | 17,986 | 30,899 | 4,980 | |||||||||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | As of December 31, | ||||||||||||||||
2013 | 2014 | 2014 | |||||||||||||||
RMB | RMB | US$ | |||||||||||||||
Segment assets | |||||||||||||||||
Agency | 1,375,299 | 1,682,305 | 271,138 | ||||||||||||||
Brokerage | 109,177 | 118,139 | 19,041 | ||||||||||||||
Claims Adjusting | 103,126 | 116,877 | 18,837 | ||||||||||||||
Other | 1,973,128 | 1,831,165 | 295,130 | ||||||||||||||
Total assets | 3,560,730 | 3,748,486 | 604,146 |
Note_1_Organization_and_Descri1
Note 1 - Organization and Description of Business (Details) | 0 Months Ended | 1 Months Ended | 12 Months Ended |
Jul. 31, 2007 | Jul. 31, 2007 | Dec. 31, 2014 | |
Disclosure Text Block [Abstract] | |||
Conversion of Stock, Shares Issued (in Shares) | 684,210,526 | ||
Common Stock Conversion Ratio | 10 | ||
Number of Variable Interest Entities | 2 |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 17, 2014 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 17, 2014 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
USD ($) | CNY | CNY | CNY | China, Yuan Renminbi | Value-added Taxes [Member] | Value-added Taxes [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Maximum [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | |
CNY | CNY | Maximum [Member] | Maximum [Member] | Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 2 [Member] | Share Purchase Agreements, Share Price 2 [Member] | Share Purchase Agreements, Share Price 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | |||||||||
USD ($) | USD ($) | USD ($) | USD ($) | CNY | CNY | |||||||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||||||||||||||
Guarantee Deposits | 4,536,000 | 7,034,000 | ||||||||||||||||||
Other than Temporary Impairment Losses, Investments | 0 | 0 | ||||||||||||||||||
Accounts Receivable Individually Reviewed for Collectability Period, Past Due | 90 days | 90 days | ||||||||||||||||||
Number of Reportable Segments | 3 | 3 | 3 | 3 | ||||||||||||||||
Goodwill, Impairment Loss | 0 | 0 | 0 | |||||||||||||||||
Amortization of Intangible Assets | 2,712,000 | 16,826,000 | 13,665,000 | 15,285,000 | ||||||||||||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | 0 | 0 | |||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 11,626,000 | |||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 5,259,000 | |||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 3,936,000 | |||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 3,722,000 | |||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 2,557,000 | |||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 791,000 | |||||||||||||||||||
Cost Method Investments Ownership Percentage | 20.00% | |||||||||||||||||||
Accrued Investment Income Receivable | 7,561,000 | 7,561,000 | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 100,000,000 | 100,000,000 | 50,000,000 | 50,000,000 | 150,000,000 | |||||||||||||||
Shares Issued, Price Per Share (in Dollars per share) | $0.27 | $0.27 | $0.29 | $0.29 | ||||||||||||||||
Stockholders' Equity Note, Subscriptions Receivable, Interest Rate | 3.00% | 3.00% | ||||||||||||||||||
Stockholders' Equity Note, Subscriptions Receivable, Term | 2 years | 2 years | ||||||||||||||||||
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable | 41,500,000 | 257,491,000 | ||||||||||||||||||
Allocated Share-based Compensation Expense | 23,598,000 | 45,317,000 | 66,878,000 | |||||||||||||||||
Policy Cancellation Actual Commission and Fee Adjustments as Percentage of Total Commission and Fee Revenues | 0.20% | 0.20% | 0.20% | 0.10% | ||||||||||||||||
Excise and Sales Taxes | 120,965,000 | 99,931,000 | 99,001,000 | 14,997,000 | 12,013,000 | |||||||||||||||
Number of Subsidiaries or Variable Interest Entities that Met VAT Reform Requirements | 7 | 7 | ||||||||||||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 0 | 0 | 0 | |||||||||||||||||
Business Acquisition Contingent Arrangements Fair Value | 4,500,000 | |||||||||||||||||||
Short-term Investments | 111,031,000 | 688,900,000 | 253,900,000 | 688,900,000 | 253,900,000 | |||||||||||||||
Cash and Cash Equivalents Denominated in Reporting Currency | 2,080,842,000 | 2,262,712,000 | ||||||||||||||||||
Foreign Currency Exchange Rate, Translation | 6.2046 | |||||||||||||||||||
Number of Operating Segments | 3 | 3 | 3 | |||||||||||||||||
Advertising Expense | 6,553,000 | 5,724,000 | 5,048,000 |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Accounts Receivable, Net | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY |
Accounts Receivable, Net [Abstract] | |||
Accounts receivable | 202,737 | 212,137 | |
Allowance for doubtful accounts | -2,673 | -16,587 | -12,655 |
Accounts receivable, net | $30,002 | 186,150 | 199,482 |
Note_2_Summary_of_Significant_4
Note 2 - Summary of Significant Accounting Policies (Details) - Movement of the Group’s Allowance for Doubtful Accounts (CNY) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 |
Movement of the Group’s Allowance for Doubtful Accounts [Abstract] | |||
Balance at the beginning of the year | 12,655 | 9,903 | 9,348 |
Provision for doubtful accounts | 3,932 | 5,303 | 4,523 |
Write-offs | -2,551 | -3,968 | |
Balance at the ending of the year | 16,587 | 12,655 | 9,903 |
Note_2_Summary_of_Significant_5
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives | 12 Months Ended |
Dec. 31, 2014 | |
Building [Member] | Minimum [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 20 years |
Building [Member] | Maximum [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 36 years |
Building [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated residual value | 0.00% |
Furniture and Fixtures [Member] | Minimum [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 3 years |
Estimated residual value | 0.00% |
Furniture and Fixtures [Member] | Maximum [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 5 years |
Estimated residual value | 3.00% |
Automobiles [Member] | Minimum [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 5 years |
Estimated residual value | 0.00% |
Automobiles [Member] | Maximum [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 10 years |
Estimated residual value | 3.00% |
Leasehold Improvements [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 5 years |
Estimated residual value | 0.00% |
Note_2_Summary_of_Significant_6
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | Operating Expense [Member] | Operating Expense [Member] | Operating Expense [Member] | Selling and Marketing Expense [Member] | Selling and Marketing Expense [Member] | Selling and Marketing Expense [Member] | General and Administrative Expense [Member] | General and Administrative Expense [Member] | General and Administrative Expense [Member] | |
CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | |||||
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation [Line Items] | |||||||||||||
Depreciation | $4,551 | 28,235 | 31,253 | 26,349 | 5,508 | 4,988 | 3,585 | 1,282 | 1,636 | 1,880 | 21,445 | 24,629 | 20,884 |
Note_2_Summary_of_Significant_7
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Brand Names [Member] | Brand Names [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Trade Names [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Agency Agreement and License [Member] | Agency Agreement and License [Member] | Computer Software, Intangible Asset [Member] | Computer Software, Intangible Asset [Member] |
CNY | CNY | Trade Names [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Agency Agreement and License [Member] | Agency Agreement and License [Member] | Computer Software, Intangible Asset [Member] | Computer Software, Intangible Asset [Member] | Trade Names [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Agency Agreement and License [Member] | Agency Agreement and License [Member] | Computer Software, Intangible Asset [Member] | Computer Software, Intangible Asset [Member] | CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | ||||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||||||||||||||||||||||||||||||||||
Useful life (Years) | 9 years 146 days | 9 years 146 days | 4 years 219 days | 4 years 219 days | 3 years | 3 years | 4 years 219 days | 4 years 219 days | 5 years | 5 years | 10 years | 10 years | 9 years 292 days | 9 years 292 days | 6 years 3 months | 6 years 3 months | 9 years 292 days | 9 years 292 days | 10 years | 10 years | |||||||||||||||
Cost | 196,963 | 177,654 | 24,091 | 24,091 | 8,898 | 8,898 | 67,096 | 54,706 | 69,485 | 68,215 | 21,394 | 16,004 | 5,999 | 5,740 | |||||||||||||||||||||
Accumulated amortization | -103,948 | -87,122 | -3,867 | -2,925 | -48,012 | -39,738 | -32,557 | -29,835 | -14,789 | -10,989 | -4,723 | -3,635 | |||||||||||||||||||||||
Impairment loss | -61,417 | -61,417 | -20,384 | -20,384 | -5,760 | -5,760 | -34,692 | -34,692 | -581 | -581 | |||||||||||||||||||||||||
Net carrying values | $5,093 | 31,598 | 29,115 | 3,707 | 3,707 | 5,031 | 5,973 | 13,324 | 9,208 | 2,236 | 3,688 | 6,024 | 4,434 | 1,276 | 2,105 |
Note_3_Acquisitions_Details
Note 3 - Acquisitions (Details) | 12 Months Ended | 1 Months Ended | 8 Months Ended | 1 Months Ended | 8 Months Ended | 1 Months Ended | 8 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Apr. 30, 2014 | Dec. 31, 2014 | 1-May-14 | Apr. 30, 2014 | Dec. 31, 2014 | 1-May-14 | Apr. 30, 2014 | Dec. 31, 2014 | 1-May-14 | 1-May-14 |
USD ($) | CNY | CNY | Nanjing [Member] | Nanjing [Member] | Nanjing [Member] | Wenzhou [Member] | Wenzhou [Member] | Wenzhou [Member] | Jiaxing [Member] | Jiaxing [Member] | Jiaxing [Member] | P and C Segment [Member] | |
CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | ||||
Note 3 - Acquisitions (Details) [Line Items] | |||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | 100.00% | 70.00% | 100.00% | |||||||||
Payments to Acquire Businesses, Gross | 27,000 | 16,000 | 21,000 | ||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 30.00% | ||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value | 9,000 | ||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | 8,812 | ||||||||||||
Business Combination, Contingent Consideration, Liability | 0 | 0 | 0 | ||||||||||
Goodwill | 21,512 | 133,474 | 78,553 | 23,850 | 10,209 | 20,862 | 54,921 | ||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 109 days | 6 years 109 days | |||||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 19,060 | 11,902 | 22,136 | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 2,323 | 1,151 | 619 |
Note_3_Acquisitions_Details_Pu
Note 3 - Acquisitions (Details) - Purchase Price Allocation | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Apr. 30, 2014 | Apr. 30, 2014 | Apr. 30, 2014 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Nanjing [Member] | Wenzhou [Member] | Jiaxing [Member] |
CNY | CNY | CNY | ||||
Note 3 - Acquisitions (Details) - Purchase Price Allocation [Line Items] | ||||||
Net tangible assets (liabilities) acquired | -4,116 | 2,708 | 3,670 | |||
Intangible assets | 7,650 | 4,110 | 7,290 | |||
Goodwill | 21,512 | 133,474 | 78,553 | 23,850 | 10,209 | 20,862 |
Deferred tax assets | 1,529 | |||||
Deferred tax liabilities | -1,913 | -1,027 | -1,822 | |||
Total consideration | 27,000 | 16,000 | 30,000 |
Note_3_Acquisitions_Details_Ac
Note 3 - Acquisitions (Details) - Acquired Intangible Assets (CNY) | 12 Months Ended | 1 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Apr. 30, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 6 years 109 days | |
Nanjing [Member] | Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 4,840 | |
Nanjing [Member] | Noncompete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 520 | |
Nanjing [Member] | Agency Agreement and License [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 2,290 | |
Nanjing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 7,650 | |
Wenzhou [Member] | Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 2,920 | |
Wenzhou [Member] | Noncompete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 270 | |
Wenzhou [Member] | Agency Agreement and License [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 920 | |
Wenzhou [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 4,110 | |
Jiaxing [Member] | Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 4,630 | |
Jiaxing [Member] | Noncompete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 480 | |
Jiaxing [Member] | Agency Agreement and License [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 2,180 | |
Jiaxing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 7,290 | |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 6 years 255 days | |
Noncompete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 3 years | |
Agency Agreement and License [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 6 years |
Note_3_Acquisitions_Details_Un
Note 3 - Acquisitions (Details) - Unaudited Pro Forma Information (CNY) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Nanjing [Member] | ||
Note 3 - Acquisitions (Details) - Unaudited Pro Forma Information [Line Items] | ||
Pro forma net revenues | 2,159,466 | 1,769,665 |
Pro forma loss from operations | 30,612 | 16,561 |
Pro forma net loss | 161,580 | 94,541 |
Pro forma net loss per share (in Yuan Renminbi per share) | 0.16 | 0.09 |
Wenzhou [Member] | ||
Note 3 - Acquisitions (Details) - Unaudited Pro Forma Information [Line Items] | ||
Pro forma net revenues | 2,155,319 | 1,769,428 |
Pro forma loss from operations | 30,840 | 17,531 |
Pro forma net loss | 161,736 | 95,289 |
Pro forma net loss per share (in Yuan Renminbi per share) | 0.16 | 0.1 |
Jiaxing [Member] | ||
Note 3 - Acquisitions (Details) - Unaudited Pro Forma Information [Line Items] | ||
Pro forma net revenues | 2,163,231 | 1,780,360 |
Pro forma loss from operations | 31,355 | 16,348 |
Pro forma net loss | 162,318 | 94,215 |
Pro forma net loss per share (in Yuan Renminbi per share) | 0.16 | 0.09 |
Note_4_Other_Receivables_Detai
Note 4 - Other Receivables (Details) (CNY) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 02, 2014 | Nov. 30, 2014 | Dec. 31, 2013 |
Guangdong Jintaiping Asset Management Service Company [Member] | ||||
Note 4 - Other Receivables (Details) [Line Items] | ||||
Percentage of Ownership Interest | 19.50% | |||
Related Party Transaction, Rate | 8.00% | |||
Due from Related Party Principal Receivable, Current | 17,020 | 130,651 | ||
Ownership Interest, Percentage, Sold | 19.50% | |||
Puyi Investment [Member] | ||||
Note 4 - Other Receivables (Details) [Line Items] | ||||
Other Receivables, Gross, Current | 7,987 |
Note_4_Other_Receivables_Detai1
Note 4 - Other Receivables (Details) - Other Receivables, Net | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Subsidiary of Common Parent [Member] | Subsidiary of Common Parent [Member] | ||||
CNY | CNY | ||||||||
Note 4 - Other Receivables (Details) - Other Receivables, Net [Line Items] | |||||||||
Advances to staff (i) | 8,159 | [1] | 9,494 | [1] | |||||
Advances to entrepreneurial agents (ii) | 981 | [2] | 1,984 | [2] | |||||
Rental deposits | 5,701 | 6,213 | |||||||
Interest income receivables (iii) | 46,472 | [3] | 47,273 | [3] | |||||
Value-added tax recoverable (iv) | 2,786 | [4] | 1,867 | [4] | |||||
Receivable from third parties(v) | 33,782 | 209,601 | 144,371 | 17,020 | [5] | 141,938 | [5] | ||
Reimbursement from insurance company (vi) | [6] | 40,106 | [6] | ||||||
Other | 7,030 | 5,901 | |||||||
$14,207 | 88,149 | 254,776 | |||||||
[1] | This represented advances to staff of the Group for daily business operations which are unsecured, interest-free and repayable on demand. | ||||||||
[2] | This represented advances to entrepreneurial agents who provide services to the Group. The advances are used by agents to develop business. The advances were unsecured, interest-free and repayable on demand. | ||||||||
[3] | This represented accrued interest income on bank deposits and interest bearing receivable from third parties as described in (v). | ||||||||
[4] | As of December 31, 2013 and December 31, 2014, the amount represented value-added tax to be refunded from tax bureau. The amount of value-added tax outstanding as of December 31, 2013 had been refunded during the year 2014, and the amount as of December 31, 2014 had not been refunded up to report date. | ||||||||
[5] | Receivable from third parties mainly included receivables from two third parties: 1) receivable from Guangdong Jintaiping Asset Management Co. Ltd ("Jintaiping"). The Group held 19.5% equity interest of Jintaiping before December 2013. In December 2013, the Group disposed of the equity share of Jintaiping. Accordingly, receivable from Jintaiping was reclassified from amount due from related parties to other receivables. The loan receivable from Jintaiping is payable within one year and bears annual interest rate at 8%. As of December 31, 2014, the amount due from Jintaiping was 17,020 (2013: RMB130,651). The receivable were unsecured and repayable on demand; and 2) other receivable from third parties as of December 31, 2013 also included receivable from Shanghai Puyi Investment Consulting Co.,Ltd ("Shanghai Puyi"). On December 2, 2013, the Group signed an equity transfer agreement to sell its 19.5% shareholdings of Jintaiping to Shanghai Puyi at a consideration of RMB7,987, which should be settled within 30 days after the legal registration of equity transfer and had been settled in 2014. | ||||||||
[6] | On April 23, 2014, the company has signed a settlement agreement with an insurance company. Please refer to note 16 (iii) for details. The legal case has been settled in August 2014. |
Note_5_Property_Plant_and_Equi2
Note 5 - Property, Plant and Equipment (Details) (CNY) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Tangible Asset Impairment Charges | 0 | 0 | 0 |
Note_5_Property_Plant_and_Equi3
Note 5 - Property, Plant and Equipment (Details) - Property, Plant and Equipment, Net | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Building [Member] | Building [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Automobiles [Member] | Automobiles [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] |
CNY | CNY | CNY | CNY | CNY | CNY | CNY | CNY | ||||
Property, Plant and Equipment [Line Items] | |||||||||||
Property, plant and equipment | 185,861 | 188,267 | 12,317 | 11,346 | 127,498 | 127,849 | 35,229 | 40,039 | 10,817 | 9,033 | |
Less: Accumulated depreciation | -138,690 | -118,705 | |||||||||
Property, plant and equipment, net | $7,602 | 47,171 | 69,562 |
Note_6_Goodwill_Details
Note 6 - Goodwill (Details) (CNY) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure Text Block Supplement [Abstract] | |||
Goodwill, Impairment Loss | 0 | 0 | 0 |
Note_6_Goodwill_Details_Goodwi
Note 6 - Goodwill (Details) - Goodwill Activity | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Agency [Member] | Agency [Member] |
CNY | CNY | ||||
RMB | |||||
Balance as of January 1, 2013 & 2014 | $21,512 | 133,474 | 78,553 | 78,553 | 78,553 |
Addition for acquisitions in 2014 | 54,921 | 54,921 | |||
Balance as of December 31, 2014 | $21,512 | 133,474 | 78,553 | 133,474 | 133,474 |
Note_6_Goodwill_Details_Goodwi1
Note 6 - Goodwill (Details) - Goodwill and Accumulated Impairment Losses | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | CNY | Agency [Member] | Agency [Member] | Agency [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] |
CNY | CNY | CNY | CNY | CNY | CNY | |||||
Note 6 - Goodwill (Details) - Goodwill and Accumulated Impairment Losses [Line Items] | ||||||||||
Goodwill, gross | 1,134,179 | 1,079,258 | 1,096,102 | 1,041,181 | 38,077 | 38,077 | ||||
Accumulated impairment loss | -1,000,705 | -1,000,705 | -962,628 | -962,628 | -38,077 | -38,077 | ||||
Goodwill, net | $21,512 | 133,474 | 78,553 | 133,474 | 78,553 | 78,553 |
Note_7_Investment_in_Affiliate2
Note 7 - Investment in Affiliates (Details) | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Apr. 30, 2014 |
USD ($) | CLF | CNY | CNY | CNY | Shanghai Teamhead Automobile Surveyors Co. Ltd [Member] | Jiaxing [Member] | Jiaxing [Member] | Sincere Fame International Limited [Member] | Jiaxing [Member] | Jiaxing [Member] | |
Note 7 - Investment in Affiliates (Details) [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 40.00% | 30.00% | 20.60% | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 70.00% | 100.00% | 70.00% | ||||||||
Income (Loss) from Equity Method Investments | $4,940 | 30,649 | 30,649 | 20,621 | 14,658 |
Note_7_Investment_in_Affiliate3
Note 7 - Investment in Affiliates (Details) - Investment in Affiliates | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Shanghai Teamhead Automobile Surveyors Co. Ltd [Member] | Shanghai Teamhead Automobile Surveyors Co. Ltd [Member] | Jiaxing [Member] | Sincere Fame International Limited [Member] | Sincere Fame International Limited [Member] |
CNY | CNY | CNY | CNY | CNY | ||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment in affiliates | $35,410 | 219,703 | 189,241 | 498 | 473 | 192 | 219,205 | 188,576 |
Note_7_Investment_in_Affiliate4
Note 7 - Investment in Affiliates (Details) - Financial Information of Equity Method Investees - Balance Sheets (Equity Method Investments [Member], CNY) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Equity Method Investments [Member] | ||
Schedule of Investments [Line Items] | ||
Current assets | 364,045 | 641,314 |
Non-current assets | 1,335,315 | 556,067 |
Current liabilities | 929,731 | 582,734 |
Non-current liabilities | 2,904 | 1,057 |
Note_7_Investment_in_Affiliate5
Note 7 - Investment in Affiliates (Details) - Financial Information of Equity Method Investees - Income Statements (Equity Method Investments [Member], CNY) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Equity Method Investments [Member] | |||
Schedule of Investments [Line Items] | |||
Net Revenues | 403,908 | 365,521 | 328,385 |
Gross profit | 346,688 | 295,954 | 240,644 |
Income from operations | 184,531 | 139,211 | 89,963 |
Net profit | 148,891 | 116,674 | 73,869 |
Note_8_Variable_Interest_Entit2
Note 8 - Variable Interest Entities (Details) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Aug. 31, 2012 | Dec. 31, 2014 | Aug. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Feb. 28, 2013 | Aug. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Feb. 28, 2013 | Aug. 31, 2012 | Dec. 31, 2013 | |
USD ($) | USD ($) | CNinsure Issuance of Shares [Member] | CNinsure Repurchase of of CISG Holdings Share [Member] | VIE Subsidiaries [Member] | Affiliated Entity [Member] | Group VIEs [Member] | Sichuan Yihe Investment Co Ltd [Member] | Minority Equity Holders [Member] | Minority Equity Holders [Member] | Sichuan Yihe Investment Co Ltd [Member] | Sichuan Yihe Investment Co. Ltd. Member and Shenzhen Xinbao Investment Management Co.Ltd. [Member] | Sichuan Yihe Investment Co. Ltd. Member and Shenzhen Xinbao Investment Management Co.Ltd. [Member] | Three PRC Affiliated Entities [Member] | Shenzhen Xinbao Investment Management Co Ltd [Member] | Guangdong Meidiya Investment Co Ltd [Member] | Minkfair Insurance Management Limited [Member] | Ying SiKang Information Technology Shenzhen Co Ltd [Member] | |
USD ($) | USD ($) | Meidiya and Yihe Investments [Member] | Meidiya and Yihe Investments [Member] | Sichuan Yihe Investment Co. Ltd. Member and Shenzhen Xinbao Investment Management Co.Ltd. [Member] | Guangdong Meidiya Investment Co Ltd [Member] | Guangdong Meidiya Investment Co Ltd [Member] | Fanhua Xinlian Information Technology Consulting Shenzhen Co Ltd [Member] | Group VIEs [Member] | Ying SiKang Information Technology Shenzhen Co Ltd [Member] | Litian Xilian Information and Zhonglian Enterprise [Member] | CNinsure Holdings Ltd. [Member] | CISG Holdings Ltd. [Member] | CNY | |||||
CNY | HKD | |||||||||||||||||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||||||||||||||||||
Loans and Leases Receivable Related Parties Commitments Fixed Interest Rates | 0.00% | 0.00% | ||||||||||||||||
Term of Agreement to Shareholders of VIE | 10 years | 1 year | ||||||||||||||||
Variable Interest Entity VIE Automatic Extended or Renewal Term of Agreement | 1 year | |||||||||||||||||
Period of Notice Required to Terminate Agreement | 30 days | |||||||||||||||||
Business Combination, Consideration Transferred | $0.00 | 1,200,000 | ||||||||||||||||
Sale of Stock, Number of Shares Issued in Transaction (in Shares) | 1 | 1,000 | ||||||||||||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $0.00 | $0.00 | $0.00 | |||||||||||||||
Sale of Stock, Percentage of Ownership after Transaction | 10.00% | 100.00% | 90.00% | |||||||||||||||
Sale of Stock, Consideration Received Per Transaction (in Yuan Renminbi) | 52,500,000 | |||||||||||||||||
Sale of Stock, Percentage of Ownership before Transaction | 20.00% | |||||||||||||||||
Wtihdrawal of Capital Contribution (in Yuan Renminbi) | 2,000,000 | |||||||||||||||||
Number of Nominee Equity Shareholders which Collectively Held Specified Percentage of Equity Interests | 2 | |||||||||||||||||
Percentage of VIE Owned by Nominee Equity Shareholders | 100.00% | |||||||||||||||||
Number of Investee Equity Interests Transferred | 5 | 19 | ||||||||||||||||
Number of Variable Interest Entities | 2 | 7 | 7 |
Note_8_Variable_Interest_Entit3
Note 8 - Variable Interest Entities (Details) - Financial Information of the Company’s VIEs - Balance Sheets (CNY) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Information of the Company’s VIEs - Balance Sheets [Abstract] | ||
Total assets | 63,090 | 114,232 |
Total liabilities | 38,716 | 110,133 |
Note_8_Variable_Interest_Entit4
Note 8 - Variable Interest Entities (Details) - Financial Information of the Company’s VIEs - Income Statements | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | |
CNY | CNY | CNY | |||||
Variable Interest Entity [Line Items] | |||||||
Net Revenues | 72,645 | 125,961 | 374,529 | ||||
Net loss | -9,636 | -3,767 | -4,755 | ||||
Net cash used in operating activities | 42,170 | 261,649 | 185,945 | 157,808 | -49,782 | -13,500 | -34,601 |
Net cash generated from investing activities | -71,784 | -445,395 | -419,308 | 234,914 | 14,709 | 12,041 | 81,593 |
Net cash (used in) generated from financing activities | ($1,260) | -7,817 | 3,350 | -86,696 | 33,370 | -38,305 |
Note_9_Other_Payables_and_Accr2
Note 9 - Other Payables and Accrued Expenses (Details) | 0 Months Ended | |
In Thousands, unless otherwise specified | Mar. 19, 2014 | Mar. 19, 2014 |
USD ($) | CNY | |
Payables and Accruals [Abstract] | ||
Litigation Settlement, Amount | $6,625 | 40,106 |
Note_9_Other_Payables_and_Accr3
Note 9 - Other Payables and Accrued Expenses (Details) - Other Payables and Accrued Expenses | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | ||
Other Payables and Accrued Expenses [Abstract] | |||||
Business and other tax payable | 24,987 | 28,313 | |||
Refundable deposits from employees and agents | 9,705 | 12,452 | |||
Professional fees | 17,340 | 11,818 | |||
Advances from third parties | 32,219 | 22,490 | |||
Payables for addition of office equipment, furniture and fixtures | 8,618 | 8,618 | |||
Insurance compensation claim payable to customers | 1,563 | 1,487 | |||
Payable for equity transfers of investment in affiliates/subsidiaries | 4,685 | 15,006 | |||
Consideration payable to settle the lawsuit (i) | [1] | 40,106 | [1] | ||
Contributions from members of eHuzhu mutual aid program | 2,341 | ||||
Others | 7,954 | 7,664 | |||
Total | $17,634 | 109,412 | 147,954 | ||
[1] | On March 19, 2014, the Company signed a settlement agreement with the plaintiff to settle the lawsuit at US$6,625 (approximately RMB40,106) and the lawsuit has been fully settled in August 2014. Please refer to note (16) (iii) for details of the lawsuit. |
Note_10_Employee_Benefit_Plans1
Note 10 - Employee Benefit Plans (Details) (CNY) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 10 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Benefit Plan, Contributions by Employer | 45,467 | 42,919 | 34,931 |
Minimum [Member] | |||
Note 10 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan Employer Percentage Contribution | 10.00% | ||
Maximum [Member] | |||
Note 10 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan Employer Percentage Contribution | 22.00% |
Note_11_Income_Taxes_Details
Note 11 - Income Taxes (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | Operating Loss Carryforwards Expiration Date One [Member] | Operating Loss Carryforwards Expiration Date Two [Member] | Operating Loss Carryforwards Expiration Date Three [Member] | Operating Loss Carryforwards Expiration Date Four [Member] | Operating Loss Carryforwards Expiration Date Five [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | HONG KONG | HONG KONG | HONG KONG | |
CNY | CNY | CNY | CNY | CNY | Shenzen PRC Subsidiaries [Member] | Shenzen PRC Subsidiaries [Member] | Shenzen PRC Subsidiaries [Member] | Shenzen PRC Subsidiaries [Member] | Shenzen PRC Subsidiaries [Member] | Shenzen PRC Subsidiaries [Member] | Litian Zuoyue Software Beijing Co. Limited [Member] | Litian Zuoyue Software Beijing Co. Limited [Member] | Litian Zuoyue Software Beijing Co. Limited [Member] | CN Software [Member] | CN Software [Member] | CN Software [Member] | Ying SiKang Information Technology Shenzhen Co Ltd [Member] | CNY | CNY | |||||||||
CNY | CNY | CNY | CNY | |||||||||||||||||||||||||
Note 11 - Income Taxes (Details) [Line Items] | ||||||||||||||||||||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 16.50% | 16.50% | 16.50% | |||||||||||||||||||
Income Taxes Preferential Tax Rate | 25.00% | 24.00% | 22.00% | 20.00% | 18.00% | 15.00% | 12.50% | 12.50% | 12.50% | 12.50% | ||||||||||||||||||
Income Tax Holiday Tax Exemption Period | 2 years | |||||||||||||||||||||||||||
Income Tax Reduction Percentage Following Exemption Period | 50.00% | |||||||||||||||||||||||||||
Income Tax Reduction Period | 3 years | |||||||||||||||||||||||||||
Income Tax Expense (Benefit) (in Yuan Renminbi) | $3,915 | 24,289 | 27,158 | 50,373 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
Income Tax, Statute of Limitations Period for Under Payment of Income Taxes Due to Computational Errors | 3 years | |||||||||||||||||||||||||||
Income Tax, Statute of Limitations Period Under Special Circumstances | 5 years | |||||||||||||||||||||||||||
Underpayment of Income Tax Liability, Sepcial Circumstance Threshold (in Yuan Renminbi) | 100 | |||||||||||||||||||||||||||
Income Tax, Statute of Limitations Period for Transfer Pricing Related Adjustment | 10 years | |||||||||||||||||||||||||||
Operating Loss Carryforwards (in Yuan Renminbi) | 10,086 | 30,860 | 32,400 | 40,546 | 52,665 | 166,557 | 164,108 | |||||||||||||||||||||
Operating Loss Carryforwards Expiration Period | 5 years | |||||||||||||||||||||||||||
Income Tax Holiday, Aggregate Dollar Amount (in Yuan Renminbi) | 17,054 | 19,364 | 26,784 | |||||||||||||||||||||||||
Income Tax Holiday, Income Tax Benefits Per Share (in Yuan Renminbi per share) | 0.02 | |||||||||||||||||||||||||||
Withholding Tax Rate on Dividend Distributed by Foreign Investment Entities | 10.00% | 10.00% | ||||||||||||||||||||||||||
Lower Withholding Tax Rate on Dividend Distributed by Foreign Investment Entities Minimum Percentage of Equity Interest | 25.00% | 25.00% | ||||||||||||||||||||||||||
Lower Withholding Tax Rate on Dividend Distributed by Foreign Investment Entities | 5.00% | 5.00% | ||||||||||||||||||||||||||
Undistributed Earnings of Domestic Subsidiaries (in Yuan Renminbi) | 1,967,287 | 1,882,224 | ||||||||||||||||||||||||||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Domestic Subsidiaries (in Yuan Renminbi) | 196,729 | 188,222 | ||||||||||||||||||||||||||
Deferred Tax Liability Recognition for Interest in Subsidiaries Percentage | 50.00% | 50.00% |
Note_11_Income_Taxes_Details_U
Note 11 - Income Taxes (Details) - Unrecognized Tax Benefits | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
CNY | CNY | CNY | USD ($) | |
Unrecognized Tax Benefits [Abstract] | ||||
Unrecognized tax benefit | 50,735 | 47,589 | 43,586 | $8,680 |
Offset per FASB ASU No. 2013-11—Income Taxes (Topic 740) | -4,808 | |||
Gross increase in prior-period tax positions | 7,928 | 3,146 | 4,003 | |
Unrecognized tax benefit | 53,855 | 50,735 | 47,589 | $8,680 |
Note_11_Income_Taxes_Details_I
Note 11 - Income Taxes (Details) - Income Tax Expenses | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | |
Income Tax Expenses [Abstract] | ||||
Current tax expense | 25,607 | 29,436 | 56,467 | |
Deferred tax income | -1,318 | -2,278 | -6,094 | |
Income tax expense | $3,915 | 24,289 | 27,158 | 50,373 |
Note_11_Income_Taxes_Details_D
Note 11 - Income Taxes (Details) - Deferred Income Tax Assets and Liabilities (CNY) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current deferred tax assets: | ||
Operating loss carryforward | 4,313 | 4,858 |
Less: valuation allowances | -4,313 | |
Current deferred tax asset, net | 4,858 | |
Non-current deferred tax assets: | ||
Operating loss carryforward | 33,930 | 36,053 |
Less: valuation allowances | -31,292 | -32,671 |
Non-current deferred tax asset, net | 2,638 | 3,382 |
Total | 2,638 | 8,240 |
Deferred tax liabilities: | ||
Intangible assets, net | 6,769 | 5,646 |
Investment income | 18,162 | 18,162 |
Total | 24,931 | 23,808 |
Note_11_Income_Taxes_Details_R
Note 11 - Income Taxes (Details) - Reconciliation of Income Taxes | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | |
Reconciliation of Income Taxes [Abstract] | ||||
Net income before income taxes and income of affiliates and discontinued operations | $25,742 | 159,720 | 106,521 | 160,452 |
PRC statutory tax rate | 25.00% | 25.00% | 25.00% | 25.00% |
Income tax at statutory tax rate | 39,930 | 26,630 | 40,113 | |
Expenses not deductible for tax purposes: | ||||
Entertainment | 579 | 494 | 668 | |
Other | 1,664 | 1,635 | 3,312 | |
Tax exemption and tax relief: | ||||
Tax rate differential | -29,497 | -16,347 | -3,947 | |
Change in valuation allowance | 2,934 | 13,812 | 5,003 | |
Uncertain tax provisions | 7,928 | 3,148 | 4,003 | |
Other | 751 | -2,214 | 1,221 | |
Income tax expense | $3,915 | 24,289 | 27,158 | 50,373 |
Note_12_Capital_Structure_Deta
Note 12 - Capital Structure (Details) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 17, 2014 | Dec. 17, 2014 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 17, 2014 | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 17, 2014 | Dec. 17, 2014 | Dec. 31, 2014 | Nov. 30, 2014 |
American Depositary Shares [Member] | American Depositary Shares [Member] | American Depositary Shares [Member] | Ordinary Shares [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | Employee Companies [Member] | |||
Employee Companies [Member] | Employee Companies [Member] | CNY | Maximum [Member] | Maximum [Member] | Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 2 [Member] | Share Purchase Agreements, Share Price 2 [Member] | Share Purchase Agreements, Share Price 2 [Member] | |||||||
Share Purchase Agreements, Share Price 1 [Member] | Share Purchase Agreements, Share Price 2 [Member] | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||
USD ($) | USD ($) | ||||||||||||||||
Note 12 - Capital Structure (Details) [Line Items] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,704,380 | 183,380 | |||||||||||||||
Stock Issued During Period, Stock Options Exercised, Percentage of Shares, Outstanding | 0.15% | 0.01% | |||||||||||||||
Stock Repurchased During Period, Shares | 193,165 | 3,863,300 | |||||||||||||||
Stock Repurchased During Period, Shares, Percentage | 0.38% | ||||||||||||||||
Stock Repurchased During Period, Value (in Yuan Renminbi) | 9,244 | ||||||||||||||||
Share Purchase Agreements, Shares Authorized | 150,000,000 | 100,000,000 | |||||||||||||||
Stock Issued During Period, Shares, New Issues | 100,000,000 | 100,000,000 | 50,000,000 | 50,000,000 | 150,000,000 | ||||||||||||
Stock Issued During Period, Shares, Percentage of Shares Outstanding | 13.04% | ||||||||||||||||
Shares Issued, Price Per Share (in Dollars per share) | $5.40 | $5.80 | $0.27 | $0.27 | $0.29 | $0.29 | |||||||||||
Stock Issued During Period, Lock-up Period | 180 days | ||||||||||||||||
Stockholders' Equity Note, Subscriptions Receivable, Interest Rate | 3.00% | 3.00% | |||||||||||||||
Stockholders' Equity Note, Subscriptions Receivable, Term | 2 years | 2 years |
Note_13_Net_Income_Loss_Per_Sh2
Note 13 - Net Income (Loss) Per Share (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Earnings Per Share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 16,920 | 38,222,880 | 46,225,381 |
Note_13_Net_Income_Loss_Per_Sh3
Note 13 - Net Income (Loss) Per Share (Details) - Net Income (Loss) per Share | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | |
Net Income (Loss) per Share [Abstract] | ||||
Net income | 166,080 | 99,984 | 124,737 | |
Less: Net (loss) income attributable to the noncontrolling interests | 696 | 4,320 | 4,341 | -5,773 |
Net income attributable to the Company’s shareholders | $26,071 | 161,760 | 95,643 | 130,510 |
Weighted average number of ordinary shares outstanding (in Shares) | 1,005,842,212 | 1,005,842,212 | 998,861,526 | 1,002,308,275 |
Share options (in Shares) | 6,749,175 | 6,749,175 | 1,708,492 | 2,993,694 |
Total (in Shares) | 1,012,591,387 | 1,012,591,387 | 1,000,570,018 | 1,005,301,969 |
Diluted net income per ordinary share (in Yuan Renminbi per share) | $0.03 | 0.16 | 0.1 | 0.13 |
Diluted net income per ADS (in Yuan Renminbi per share) | 3.19 | 1.91 | 2.6 | |
Basic net income per ordinary share (in Yuan Renminbi per share) | $0.03 | 0.16 | 0.1 | 0.13 |
Basic net income per ADS (in Yuan Renminbi per share) | 3.22 | 1.92 | 2.6 |
Note_14_Distribution_of_Profit1
Note 14 - Distribution of Profits (Details) | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | CHINA |
Note 14 - Distribution of Profits (Details) [Line Items] | ||||
Appropriations to Statutory Capital and Surplus Percentage Minimum | 10.00% | |||
Appropriations to Statutory Capital and Surplus Maximum Percentage of Registered Capital | 50.00% | |||
Retained Earnings, Appropriated | $31,980 | 198,422 | 182,740 |
Note_15_Related_Party_Balances2
Note 15 - Related Party Balances and Transactions (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Oct. 31, 2011 | Oct. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||
CNY | CNY | CNY | Beijing Fanhua Micro Credit Company Limited [Member] | Sincere Fame International Limited and Subsidiaries [Member] | Sincere Fame International Limited and Subsidiaries [Member] | Sincere Fame International Limited and Subsidiaries [Member] | Sincere Fame International Limited and Subsidiaries [Member] | Sincere Fame International Limited and Subsidiaries [Member] | Sincere Fame International Limited and Subsidiaries [Member] | Sincere Fame International Limited [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | Puyi Asset Management Co Ltd [Member] | Puyi Asset Management Co Ltd [Member] | |||
Subsidiary Holding Equity Interest in Subsidiary of Sincere Fame [Member] | Maximum [Member] | USD ($) | USD ($) | CNY | CNY | CNY | Subsidiaries [Member] | Subsidiaries [Member] | CNY | CNY | CNY | CNY | CNY | |||||||
CNY | CNY | CNY | ||||||||||||||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||||||||||||||||
Related Party Transaction Amount of Loan Agreed to be Advanced | 317,990 | $50,000 | ||||||||||||||||||
Facility Letter Validity Period | 2 years | |||||||||||||||||||
Due from Related Party Principal Receivable, Current | 28,959 | 179,681 | 126,621 | |||||||||||||||||
Interest Receivable, Current | 4,580 | 28,420 | 16,250 | |||||||||||||||||
Accounts Receivable, Related Parties, Current | 242 | 1,500 | 1,500 | |||||||||||||||||
Related Party Transaction, Rate | 7.30% | 7.30% | ||||||||||||||||||
Revenue from Related Parties | 1,415 | 5,660 | 13,112 | 7,522 | ||||||||||||||||
Related Party Transaction Interest Income from Transactions with Related Party | 46,472 | [1] | 47,273 | [1] | 12,170 | 6,843 | 10,298 | |||||||||||||
Equity Method Investment, Ownership Percentage | 30.00% | |||||||||||||||||||
Noncontrolling Interest Acquisition Excess Fair Value Recognized As Management Compensation Expense | 7,900 | |||||||||||||||||||
[1] | This represented accrued interest income on bank deposits and interest bearing receivable from third parties as described in (v). |
Note_15_Related_Party_Balances3
Note 15 - Related Party Balances and Transactions (Details) - Due from and Due to Related Parties | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Noncontrolling Shareholders [Member] | Noncontrolling Shareholders [Member] | ||
CNY | CNY | ||||||
Related Party Transaction [Line Items] | |||||||
Amount due from an affiliate and its subsidiaries, net (i) | $33,782 | 209,601 | 144,371 | 209,601 | [1] | 144,371 | [1] |
Subscription receivables(note 2(m) & note 12) | $41,500 | 257,491 | |||||
[1] | The Group agreed to grant a revolving loan with a maximum amount of US$50,000 (equivalent to RMB317,990 as per the agreement) to Sincere Fame and its subsidiaries pursuant to a facility letter entered in October 2011 (the "Facility"). The Facility is valid for two years and is renewed upon mutual agreement for another two years in October 2013. On January 1, 2012, the Group and Sincere Fame further entered into a supplemental loan agreement, which established the legal rights to offset the interests and amounts receivable or payable between the Group and Sincere Fame, and all the subsidiaries of the Group and Sincere Fame. As of December 31, 2013 and 2014, the amount due from Sincere Fame and its subsidiaries represented RMB126,621 and RMB179,681 (US$28,959) principal receivable, RMB16,250 and RMB28,420 (US$4,580) interest receivable and RMB1,500 and RMB1,500 (US$242) account receivables. These amounts are unsecured, bear interest at 7.3% and are repayable on demand. |
Note_16_Commitments_and_Contin2
Note 16 - Commitments and Contingencies (Details) | 0 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 19, 2014 | Mar. 19, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | CNY | |
Commitments and Contingencies Disclosure [Abstract] | |||||
Operating Leases, Rent Expense, Net | 30,509 | 31,858 | 27,455 | ||
Litigation Settlement, Amount | $6,625 | 40,106 |
Note_16_Commitments_and_Contin3
Note 16 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under Non-cancelable Operating Leases (CNY) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Payments under Non-cancelable Operating Leases [Abstract] | |
2015 | 20,598 |
2016 | 15,203 |
2017 | 6,028 |
2018 | 516 |
2019 | 111 |
Total | 42,456 |
Note_17_Concentrations_of_Cred2
Note 17 - Concentrations of Credit Risk (Details) - Concentration Risk - Net Revenues (Customer Concentration Risk [Member], Sales [Member], CNY) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | 992,491 | 799,490 | 725,091 |
Total net revenues from commissions and fees (%) | 47.00% | 46.00% | 46.00% |
PICC [Member] | |||
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | 442,608 | 346,405 | 330,699 |
Total net revenues from commissions and fees (%) | 21.00% | 20.00% | 21.00% |
Ping An Property and Casualty Insurance Company of China Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | 294,228 | 248,102 | 185,595 |
Total net revenues from commissions and fees (%) | 14.00% | 14.00% | 12.00% |
China Pacific Property Insurance Co. Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | 255,655 | 204,983 | 208,797 |
Total net revenues from commissions and fees (%) | 12.00% | 12.00% | 13.00% |
Note_17_Concentrations_of_Cred3
Note 17 - Concentrations of Credit Risk (Details) - Concentration Risk - Accounts Receivable | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | PICC [Member] | PICC [Member] | Ping An Property and Casualty Insurance Company of China Ltd [Member] | Ping An Property and Casualty Insurance Company of China Ltd [Member] | China Pacific Property Insurance Co. Ltd [Member] | China Pacific Property Insurance Co. Ltd [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] |
Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | ||||
Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | CNY | CNY | ||||
CNY | CNY | CNY | CNY | CNY | CNY | ||||||
Concentration Risk [Line Items] | |||||||||||
Accounts Receivable ($) | $30,002 | 186,150 | 199,482 | 32,117 | 41,375 | 28,903 | 18,817 | 22,927 | 20,654 | 83,947 | 80,846 |
Accounts Receivable (%) | 17.00% | 21.00% | 16.00% | 9.00% | 12.00% | 10.00% | 45.00% | 40.00% |
Note_18_NonCash_Transactions_D
Note 18 - Non-Cash Transactions (Details) - Non-cash Investing Activities | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
CNY | USD ($) | CNY | CNY | |
Non-cash Investing Activities [Abstract] | ||||
Considerations payable in connection with acquisition of subsidiaries | 96 | |||
Considerations payable in connection with other investment | 3,030 | 3,720 | ||
Payables for addition of office equipment, furniture and fixtures | 38,537 | |||
Subscription receivables from employee companies(Note 2(m) & Note 12) | $41,500 | 257,491 |
Note_19_Sharebased_Compensatio2
Note 19 - Share-based Compensation (Details) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 34 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 02, 2012 | Apr. 02, 2012 | Apr. 02, 2012 | Apr. 02, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 09, 2009 | Mar. 09, 2009 | Mar. 09, 2009 | Mar. 09, 2009 | Nov. 21, 2008 | Nov. 21, 2008 | Nov. 21, 2008 | Nov. 21, 2008 | Jun. 24, 2013 | Jun. 24, 2013 | Jun. 24, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 29, 2012 | Jul. 01, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | Jul. 01, 2014 | Dec. 31, 2014 | Apr. 02, 2012 | Apr. 02, 2012 | Apr. 02, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 02, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Nov. 30, 2014 | Nov. 30, 2014 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Mar. 12, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 30, 2014 | Nov. 30, 2014 | Dec. 31, 2014 | Mar. 09, 2009 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 09, 2009 | Mar. 09, 2009 | Nov. 21, 2008 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 21, 2008 | Nov. 21, 2008 | Feb. 03, 2007 | Feb. 03, 2007 | Feb. 03, 2007 | Feb. 03, 2007 | Dec. 31, 2014 | Feb. 03, 2007 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Nov. 30, 2014 | Oct. 31, 2014 |
CNY | CNY | CNY | CNY | Option I1 [Member] | Option I2 [Member] | Option I3 [Member] | Option I4 [Member] | Option G1 [Member] | Option G2 [Member] | Option G3 [Member] | Option G4 [Member] | Option G5 [Member] | Forfeited Options [Member] | Forfeited Options [Member] | Forfeited Options [Member] | Forfeited Options [Member] | Forfeited Options [Member] | Forfeited Options [Member] | Forfeited Options [Member] | Option H1 [Member] | Option H2 [Member] | Option H3 [Member] | Option H4 [Member] | Option H5 [Member] | Option H6 [Member] | Option D 1 [Member] | Option D 2 [Member] | Option D 3 [Member] | Option D 4 [Member] | Option C 1 [Member] | Option C 2 [Member] | Option C 3 [Member] | Option C 4 [Member] | Inscom Options 2013 Plan [Member] | Inscom Options 2013 Plan [Member] | Inscom Options 2013 Plan [Member] | Inscom Options 2013 Plan [Member] | Inscom Options 2013 Plan [Member] | Inscom Options 2013 Plan [Member] | InsCom Options 2014 Plan [Member] | InsCom Options 2014 Plan [Member] | InsCom Options 2014 Plan [Member] | InsCom Options 2014 Plan [Member] | InsCom Options 2014 Plan [Member] | InsCom Options 2014 Plan [Member] | InsCom Options 2014 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2010 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2007 Plan A [Member] | Options 2007 Plan A [Member] | Options 2007 Plan A [Member] | Options 2007 Plan A [Member] | Options 2007 Plan A [Member] | Options 2007 Plan A [Member] | 2008 Options and 2009 Options [Member] | Inscom Options [Member] | Options 2012 Plan G and Options 2012 Plan H [Member] | Options 2012 Plan G and Options 2012 Plan H [Member] | Options 2012 Plan G and Options 2012 Plan H [Member] | Options 2012 Plan G and Options 2012 Plan H [Member] | |
Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Inscom Options 2012 Plan [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan G [Member] | Options 2012 Plan H [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2012 Plan H [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2009 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Options 2008 Plan [Member] | Entrepreneurial Agents [Member] | Employees [Member] | CNY | CNY | CNY | Entrepreneurial Agents [Member] | Entrepreneurial Agents [Member] | Employees [Member] | Employees [Member] | Employees [Member] | CNY | CNY | Entrepreneurial Agents [Member] | Employees [Member] | CNY | CNY | CNY | CNY | CNY | Director [Member] | Independent Director [Member] | Independent Director [Member] | Independent Director [Member] | Independent Director [Member] | USD ($) | CNY | CNY | CNY | CNY | CNY | USD ($) | CNY | USD ($) | CNY | Entrepreneurial Agents [Member] | Captains [Member] | USD ($) | CNY | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | CNY | CNY | USD ($) | CNY | Public Listing [Member] | First Anniversary [Member] | Second Anniversary of Empmloyment [Member] | CNY | CNY | CNY | CNY | Option Modification [Member] | |||||||||||||
Vesting on April 2, 2012 [Member] | Vesting on June 30, 2013 [Member] | Vesting on April 2, 2012 [Member] | Vesting on June 30, 2013 [Member] | Vesting on May 31, 2012 [Member] | Vesting on May 31, 2013 [Member] | Vesting on May 31, 2014 [Member] | Vesting on May 31, 2015 [Member] | Vesting on May 31, 2016 [Member] | CNY | CNY | CNY | CNY | CNY | CNY | CNY | Vesting on May 31, 2014 [Member] | Vesting on May 31, 2015 [Member] | Vesting on May 31, 2016 [Member] | Vesting on May 31, 2014 [Member] | Vesting on May 31, 2015 [Member] | Vesting on May 31, 2016 [Member] | Vesting on March 31, 2010 [Member] | Vesting on March 31, 2011 [Member] | Vesting on March 31, 2012 [Member] | Vesting on March 31, 2013 [Member] | Vesting on March 31, 2010 [Member] | Vesting on March 31, 2011 [Member] | Vesting on March 31, 2012 [Member] | Vesting on March 31, 2013 [Member] | Vest on June 30, 2015 [Member] | Vest on June 30, 2015 [Member] | Vest on July 1, 2014 [Member] | USD ($) | CNY | USD ($) | CNY | CNY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 65.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 202,400,000 | 46,722,500 | 96,645,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Shares Authorized as Percentage of Total Number of Ordinary Shares | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,914,312 | 14,744,000 | 3,477,281 | 3,477,281 | 3,930,000 | 4,259,000 | 8,189,000 | 36,515,586 | 24,492,750 | 92,845,000 | 92,845,000 | 3,000,000 | 800,000 | 3,800,000 | 10,000,000 | 32,000,000 | 5,473,684 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Yuan Renminbi per share) | 1.9 | 1.2 | 0.028 | 0.025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | 0 | 0 | $0.03 | 0.17 | $0.04 | 0.26 | $0.04 | 0.26 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | 23,598 | 45,317 | 66,878 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 109 | 6 | 3 | 22,200 | 35,732 | 60,666 | 1,289 | 1,288 | 1,100 | 238 | 1,353 | 946 | 3,756 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,704,380 | 183,380 | 0 | 0 | 0 | 0 | 972,640 | 972,640 | 0 | 1,348,280 | 2,685,300 | 4,652,620 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 60,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 5 years | 5 years | 4 years | 2 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 86.00% | 14.00% | 36.00% | 64.00% | 20.00% | 20.00% | 25.00% | 20.00% | 15.00% | 40.00% | 40.00% | 20.00% | 40.00% | 40.00% | 20.00% | 30.00% | 30.00% | 20.00% | 20.00% | 30.00% | 30.00% | 20.00% | 20.00% | 40.00% | 30.00% | 30.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | 1 | $0.31 | 1.98 | $0.00 | 0.006 | $0.30 | 1.9 | $0.30 | 1.9 | $0.00 | 0.006 | $0.34 | 2.3 | $0.28 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 96,645,000 | 8,800,000 | 3,200,000 | 3,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Risk Premium | 1.05% | 1.05% | 1.05% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 2,113,656 | 1,431,734 | 411,490 | 3,036,879 | 120,000 | 4,476,505 | 932,305 | 786,670 | 898,740 | 143,664 | 110,900 | 231,600 | 200,410 | 171,700 | 269,800 | 211,080 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options Grants in Period, Percentage | 0.80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | 1.9 | 1.92 | 1.92 | 1.99 | 0.025 | 0.006 | 0.006 | 0.006 | 2.3 | 1.9 | 2.32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost (in Yuan Renminbi) | 6,700 | 401 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation, Options, Extended Period | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options Modified into Shares Options | 91,327,722 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 82,247,600 | 131,729,497 | 133,161,231 | 37,111,101 | 17,621,433 | 11,546,281 | 56,531,831 | 45,876,692 | 45,876,692 | 45,876,692 | 1,370,428 | 7,000,000 | 28,000,480 | 0 | 45,663,861 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 17,012,991 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Yuan Renminbi) | 18,793 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 6 months | 1 year | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 65,234,609 | 17,621,433 | 4,259,000 | 56,531,831 | 29,663,817 | 29,663,817 | 29,663,817 | 570,312 | 7,000,000 | 28,000,480 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years | 7 years 109 days | 7 years 109 days | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 6 months | 4 years 6 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Yuan Renminbi per share) | 1.94 | 0.025 | 0.028 |
Note_19_Sharebased_Compensatio3
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions (Options 2012 Plan G [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Option G1 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 2.02% |
Expected life (years) | 5 years 40 days |
Expected volatility | 74.54% |
Option G2 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 2.16% |
Expected life (years) | 5 years 222 days |
Expected volatility | 74.54% |
Option G3 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 2.29% |
Expected life (years) | 6 years 40 days |
Expected volatility | 74.54% |
Option G4 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 2.42% |
Expected life (years) | 6 years 222 days |
Expected volatility | 74.54% |
Option G5 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 2.55% |
Expected life (years) | 7 years 40 days |
Expected volatility | 74.54% |
Note_19_Sharebased_Compensatio4
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions (Options 2012 Plan H [Member]) | 0 Months Ended |
Mar. 12, 2012 | |
Option H1 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 1.43% |
Expected life (years) | 4 years 295 days |
Expected volatility | 60.32% |
Option H2 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 1.60% |
Expected life (years) | 5 years 113 days |
Expected volatility | 64.83% |
Option H3 [Member] | |
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 1.43% |
Expected life (years) | 4 years 295 days |
Expected volatility | 60.32% |
Note_19_Sharebased_Compensatio5
Note 19 - Share-based Compensation (Details) - 2009 Options - Fair Value Assumptions (Options 2009 Plan [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Option D 1 [Member] | |
Note 19 - Share-based Compensation (Details) - 2009 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.35% |
Expected life (years) | 3 years 204 days |
Expected volatility | 33.00% |
Option D 2 [Member] | |
Note 19 - Share-based Compensation (Details) - 2009 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.51% |
Expected life (years) | 4 years 21 days |
Expected volatility | 31.90% |
Option D 3 [Member] | |
Note 19 - Share-based Compensation (Details) - 2009 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.55% |
Expected life (years) | 4 years 204 days |
Expected volatility | 32.20% |
Option D 4 [Member] | |
Note 19 - Share-based Compensation (Details) - 2009 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.61% |
Expected life (years) | 5 years 21 days |
Expected volatility | 31.20% |
Note_19_Sharebased_Compensatio6
Note 19 - Share-based Compensation (Details) - 2008 Options - Fair Value Assumptions (Options 2008 Plan [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Option C 1 [Member] | |
Note 19 - Share-based Compensation (Details) - 2008 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.70% |
Expected life (years) | 3 years 313 days |
Expected volatility | 28.20% |
Option C 2 [Member] | |
Note 19 - Share-based Compensation (Details) - 2008 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.71% |
Expected life (years) | 4 years 131 days |
Expected volatility | 28.90% |
Option C 3 [Member] | |
Note 19 - Share-based Compensation (Details) - 2008 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 3.93% |
Expected life (years) | 4 years 313 days |
Expected volatility | 28.00% |
Option C 4 [Member] | |
Note 19 - Share-based Compensation (Details) - 2008 Options - Fair Value Assumptions [Line Items] | |
Weight average assumptions – expected dividend yield | 0.00% |
Risk-free interest rate | 4.07% |
Expected life (years) | 5 years 131 days |
Expected volatility | 27.60% |
Note_19_Sharebased_Compensatio7
Note 19 - Share-based Compensation (Details) - 2007 Options - Fair Value Assumptions (Options 2007 Plan A [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
Options 2007 Plan A [Member] | |
Note 19 - Share-based Compensation (Details) - 2007 Options - Fair Value Assumptions [Line Items] | |
Weighted average assumptions—expected dividend yield | 0.00% |
Risk-free interest rate | 2.71% |
Expected life (years) | 5 years 219 days |
Expected volatility | 28.50% |
Note_19_Sharebased_Compensatio8
Note 19 - Share-based Compensation (Details) - Stock Option Activity (CNY) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Option Activity [Abstract] | |||
Number of shares | 131,729,497 | 133,161,231 | 37,111,101 |
Weighted average exercise price | 1.92 | 1.92 | 1.99 |
Aggregate intrinsic value | 15,436 | 15,436 | 7,070 |
Exercisable as of December 31, 2014 | 65,234,609 | ||
Exercisable as of December 31, 2014 | 1.94 | ||
Exercisable as of December 31, 2014 | 7,517 | ||
Granted on March 12, 2012 | 96,645,000 | ||
Granted on March 12, 2012 | 1.9 | ||
Number of shares exercised | -1,704,380 | -183,380 | |
Weighted average exercise price, exercised | 2.09 | 1.95 | |
Number of shares exercised forfeited | -2,113,656 | -1,431,734 | -411,490 |
Weighted average exercise price, forfeited | 1.92 | 1.96 | 2.09 |
Modification of the 2012 Options | -45,663,861 | ||
Modification of the 2012 Options | 1.9 | ||
Number of shares | 82,247,600 | 131,729,497 | 133,161,231 |
Weighted average exercise price | 1.9 | 1.92 | 1.92 |
Aggregate intrinsic value | 10,177 | 15,436 | 15,436 |
Note_19_Sharebased_Compensatio9
Note 19 - Share-based Compensation (Details) - Information about Share Option Plans (CNY) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Information about Share Option Plans [Abstract] | |||
Weighted-average grant-date fair value per share of options granted (in Yuan Renminbi per share) | 1.48 | ||
Total intrinsic value of options exercised | 837 | 74 | |
Total fair value of share options vested | 44,912 | 34,362 | 30,513 |
Recovered_Sheet1
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding (CNY) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 82,247,600 | 131,729,497 | 133,161,231 | 37,111,101 |
Weighted average exercise price in RMB (in Yuan Renminbi per share) | 1.9 | 1.92 | 1.92 | 1.99 |
Options Exercisable | 65,234,609 | |||
Options 2012 Plan G [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 45,876,692 | |||
Weighted average remaining contractual life (Years) | 7 years 109 days | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | 0.006 | |||
Options Exercisable | 29,663,817 | |||
Options 2012 Plan H [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 1,370,428 | |||
Weighted average remaining contractual life (Years) | 7 years 109 days | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | 0.006 | |||
Options Exercisable | 570,312 | |||
Options 2009 Plan [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 7,000,000 | |||
Weighted average remaining contractual life (Years) | 3 years | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | 2.3 | |||
Options Exercisable | 7,000,000 | |||
Options 2008 Plan [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 28,000,480 | |||
Weighted average remaining contractual life (Years) | 3 years | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | 1.9 | |||
Options Exercisable | 28,000,480 |
Note_20_Restricted_Net_Assets_
Note 20 - Restricted Net Assets (Details) (CNY) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 20 - Restricted Net Assets (Details) [Line Items] | ||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 2,055,417 | 1,907,730 |
Group VIEs [Member] | ||
Note 20 - Restricted Net Assets (Details) [Line Items] | ||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 131,313 | 135,678 |
Note_21_Segment_Reporting_Deta
Note 21 - Segment Reporting (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Segment Reporting [Abstract] | ||
Number of Operating Segments | 3 | 3 |
Note_21_Segment_Reporting_Deta1
Note 21 - Segment Reporting (Details) - Group’s Operations by Business Segment | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | Agency [Member] | Agency [Member] | Agency [Member] | Agency [Member] | Brokerage [Member] | Brokerage [Member] | Brokerage [Member] | Brokerage [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Other Segments [Member] | Other Segments [Member] | Other Segments [Member] | Other Segments [Member] | |
USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | |||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||
Total net revenues | $346,519 | 2,150,011 | 1,757,024 | 1,586,117 | $261,807 | 1,624,410 | 1,418,512 | 1,305,310 | $37,492 | 232,620 | 63,418 | 48,855 | $47,220 | 292,981 | 261,206 | 217,497 | 13,888 | 14,455 | ||
Total operating costs and expenses | -341,539 | -2,119,112 | -1,739,038 | -1,520,291 | -239,640 | -1,486,871 | -1,305,306 | -1,138,083 | -31,753 | -197,017 | -53,719 | -34,474 | -44,409 | -275,539 | -234,129 | -186,695 | -25,737 | -159,685 | -145,884 | -161,039 |
Total income from operations | $4,980 | 30,899 | 17,986 | 65,826 | $22,167 | 137,539 | 113,206 | 167,227 | $5,739 | 35,603 | 9,699 | 14,381 | $2,811 | 17,442 | 27,077 | 30,802 | ($25,737) | -159,685 | -131,996 | -146,584 |
Note_21_Segment_Reporting_Deta2
Note 21 - Segment Reporting (Details) - Segment Assets | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | USD ($) | CNY | CNY | Agency [Member] | Agency [Member] | Agency [Member] | Brokerage [Member] | Brokerage [Member] | Brokerage [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Claims Adjusting Segment [Member] | Other Segments [Member] | Other Segments [Member] | Other Segments [Member] |
USD ($) | CNY | CNY | USD ($) | CNY | CNY | USD ($) | CNY | CNY | USD ($) | CNY | CNY | ||||
Segment Reporting, Asset Reconciling Item [Line Items] | |||||||||||||||
Total assets | $604,146 | 3,748,486 | 3,560,730 | $271,138 | 1,682,305 | 1,375,299 | $19,041 | 118,139 | 109,177 | $18,837 | 116,877 | 103,126 | $295,130 | 1,831,165 | 1,973,128 |
Note_22_Subsequent_Event_Detai
Note 22 - Subsequent Event (Details) | 1 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||||
Aug. 31, 2012 | Jan. 15, 2015 | Jan. 05, 2015 | Jan. 05, 2015 | Jan. 05, 2015 | Jan. 15, 2015 | Jan. 15, 2015 | Jan. 15, 2015 | Jan. 15, 2015 | Jan. 15, 2015 | Jan. 15, 2016 | |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Scenario, Forecast [Member] | ||
CDH Inservice [Member] | CDH Inservice [Member] | CDH Inservice [Member] | CDH Inservice [Member] | Henan Fanhua Anlian Insurance Agency Co., Ltd [Member] | Henan Fanhua Anlian Insurance Agency Co., Ltd [Member] | Hebei Fanlian Insurance Agency Co., Ltd [Member] | Hebei Fanlian Insurance Agency Co., Ltd [Member] | Hebei Branch of Fanhua Lianxing Insurance Sales Co., Ltd [Member] | CDH Inservice [Member] | ||
American Depositary Shares [Member] | American Depositary Shares [Member] | American Depositary Shares [Member] | Kingsford Resources [Member] | CNY | CNY | American Depositary Shares [Member] | |||||
Kingsford Resources [Member] | Kingsford Resources [Member] | Kingsford Resources [Member] | USD ($) | Kingsford Resources [Member] | |||||||
USD ($) | USD ($) | ||||||||||
Note 22 - Subsequent Event (Details) [Line Items] | |||||||||||
Sale of Stock, Number of Shares Issued in Transaction (in Shares) | 1 | 7,731,149 | |||||||||
Sale of Stock, Price Per Share (in Dollars per share) | $7 | $0.35 | |||||||||
Proceeds from Issuance or Sale of Equity (in Dollars) | $54,100,000 | ||||||||||
Sale of Stock, Number of Shares Issued in Transaction, Delivered (in Shares) | 3,865,575 | 3,865,574 | |||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 49.00% | 36.50% | 12.50% | ||||||||
Business Combination, Consideration Transferred (in Yuan Renminbi) | 68,000,000 | 40,000,000 | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 51.00% | 51.00% | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage | 100.00% | 87.50% |
Schedule_1_Condensed_Financial1
Schedule 1 - Condensed Financial Statements of the Company (Details) (CNY) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 2,055,417 | 1,907,730 |
Schedule_1_Condensed_Financial2
Schedule 1 - Condensed Financial Statements of the Company (Details) - Condensed Balance Sheet | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | USD ($) | CNY | USD ($) | CNY | CNY | CNY | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] |
USD ($) | CNY | USD ($) | CNY | CNY | CNY | |||||||
Current assets: | ||||||||||||
Cash and cash equivalents | $338,953 | 2,103,068 | $368,859 | 2,288,623 | 2,525,618 | 2,222,160 | $1,564 | 9,707 | $1,849 | 11,471 | 14,589 | 24,776 |
Other receivables | 14,207 | 88,149 | 254,776 | 48 | 296 | 40,106 | ||||||
Amounts due from subsidiaries | 248,155 | 1,539,702 | 1,491,025 | |||||||||
Total current assets | 532,142 | 3,301,726 | 3,177,801 | 249,767 | 1,549,705 | 1,542,602 | ||||||
Non-current assets: | ||||||||||||
Investment in subsidiaries | 274,038 | 1,700,295 | 1,561,555 | |||||||||
Total assets | 604,146 | 3,748,486 | 3,560,730 | 523,805 | 3,250,000 | 3,104,157 | ||||||
Current liabilities: | ||||||||||||
Other payables | 439 | 2,723 | 45,102 | |||||||||
Amounts due to subsidiaries | 5,887 | 36,525 | 30,958 | |||||||||
Total liabilities | 66,761 | 414,226 | 413,968 | 6,326 | 39,248 | 76,060 | ||||||
Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 998,861,526 and 1,150,565,906 as of December 31, 2013 and 2014, respectively)) | 1,380 | 8,563 | 7,624 | 1,380 | 8,563 | 7,624 | ||||||
Additional paid-in capital | 419,270 | 2,601,401 | 2,329,962 | 419,270 | 2,601,401 | 2,329,962 | ||||||
Retained earnings | 155,269 | 963,385 | 801,625 | |||||||||
Accumulated other comprehensive loss | -16,940 | -105,106 | -111,114 | -16,940 | -105,106 | -111,114 | ||||||
Subscription receivables | -41,500 | -257,491 | -41,500 | -257,491 | ||||||||
Total shareholders’ equity | 517,479 | 3,210,752 | 3,028,097 | 517,479 | 3,210,752 | 3,028,097 | ||||||
Total liabilities and shareholders' equity | $604,146 | 3,748,486 | 3,560,730 | $523,805 | 3,250,000 | 3,104,157 |
Schedule_1_Condensed_Financial3
Schedule 1 - Condensed Financial Statements of the Company (Details) - Condensed Balance Sheet (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Aug. 31, 2012 |
Condensed Balance Sheet Statements, Captions [Line Items] | |||
Ordinary shares, shares authorized | 10,000,000,000 | 10,000,000,000 | |
Ordinary shares, value per share (in Dollars per share and Yuan Renminbi per share) | $0.00 | $0.00 | |
Ordinary shares, shares issued | 1,150,565,906 | 998,861,526 | |
Ordinary shares, shares outstanding | 1,150,565,906 | 998,861,526 | |
Parent Company [Member] | |||
Condensed Balance Sheet Statements, Captions [Line Items] | |||
Ordinary shares, shares authorized | 10,000,000,000 | 10,000,000,000 | |
Ordinary shares, value per share (in Dollars per share and Yuan Renminbi per share) | $0.00 | ||
Ordinary shares, shares issued | 1,150,565,906 | 998,861,526 | |
Ordinary shares, shares outstanding | 1,150,565,906 | 998,861,526 |
Schedule_1_Condensed_Financial4
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Income and Comprehensive Income | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
USD ($) | CNY | CNY | CNY | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | |||||
USD ($) | CNY | CNY | CNY | |||||||||
Condensed Income Statements, Captions [Line Items] | ||||||||||||
General and administrative expenses | ($63,935) | [1] | -396,692 | [1] | -349,205 | [1] | -356,033 | [1] | ($5,027) | -31,191 | -50,633 | -77,993 |
Interest income | 13,256 | 82,251 | 84,250 | 90,323 | 2,009 | 12,464 | 6,847 | 13,215 | ||||
Equity in earnings of subsidiaries | 29,089 | 180,487 | 139,429 | 195,288 | ||||||||
Net income | 26,071 | 161,760 | 95,643 | 130,510 | 26,071 | 161,760 | 95,643 | 130,510 | ||||
Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments | 968 | 6,008 | -6,982 | -2,481 | 968 | 6,008 | -6,982 | -2,481 | ||||
Comprehensive income attributable to the CNinsure Inc’s shareholders | $27,039 | 167,768 | 88,661 | 128,029 | $27,039 | 167,768 | 88,661 | 128,029 | ||||
[1] | Including share-based compensation expenses of RMB66,878, RMB45,317 and RMB23,598 (US$3,803), for the years ended December 31, 2012, 2013 and 2014, respectively and on-line projects related expenses of RMB15,532, RMB25,480 and RMB62,943 (US$10,145), for the years ended December 31, 2012, 2013 and 2014, respectively. |
Schedule_1_Condensed_Financial5
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | AOCI Attributable to Parent [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | |
Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | CNY | CNY | USD ($) | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | CNY | CNY | CNY | USD ($) | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | CNY | CNY | CNY | USD ($) | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | CNY | CNY | CNY | USD ($) | USD ($) | CNY | CNY | CNY | |||||
CNY | CNY | USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | USD ($) | CNY | CNY | CNY | USD ($) | ||||||||||||||||||||||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||||||||||||||||||||||||||||||||||||
Balance, shares (in Shares) | 998,861,526 | 998,861,526 | 998,861,526 | 1,002,541,446 | 1,150,565,906 | 998,861,526 | 1,002,541,446 | 1,150,565,906 | 998,861,526 | 998,861,526 | ||||||||||||||||||||||||||||
Balance | 3,146,762 | 3,007,907 | 2,878,995 | 7,624 | 7,646 | $1,380 | 7,624 | 7,646 | $1,380 | 2,329,962 | 2,284,906 | 2,272,580 | $419,270 | 2,329,962 | 2,284,906 | 2,272,580 | $419,270 | 801,625 | 705,982 | 575,472 | $155,269 | 618,885 | 527,542 | 408,325 | $123,289 | -111,114 | -104,132 | -101,651 | ($16,940) | -111,114 | -104,132 | -101,651 | ($16,940) | |||||
Balance as of December 31, 2014 in US$ (in Dollars) | 537,385 | 3,334,260 | 3,146,762 | 3,007,907 | 8,563 | 7,624 | 1,380 | 8,563 | 7,624 | 1,380 | 2,601,401 | 2,329,962 | 2,284,906 | 419,270 | 2,601,401 | 2,329,962 | 2,284,906 | 419,270 | 963,385 | 801,625 | 705,982 | 155,269 | 764,963 | 618,885 | 527,542 | 123,289 | -105,106 | -111,114 | -104,132 | -16,940 | -105,106 | -111,114 | -104,132 | -16,940 | -41,500 | -257,491 | ||
Issue new shares to employee (in Shares) | 150,000,000 | 150,000,000 | ||||||||||||||||||||||||||||||||||||
Issue new shares to employee | 928 | 928 | 256,563 | 256,563 | -257,491 | |||||||||||||||||||||||||||||||||
Net income/loss | 26,767 | 166,080 | 99,984 | 124,737 | 161,760 | 95,643 | 130,510 | 161,760 | 95,643 | 130,510 | ||||||||||||||||||||||||||||
Foreign currency translation | 968 | 6,008 | -6,982 | -2,481 | 6,008 | -6,982 | -2,481 | 6,008 | -6,982 | -2,481 | 968 | 6,008 | -6,982 | -2,481 | ||||||||||||||||||||||||
Exercise of share options (in Shares) | 1,704,380 | 1,704,380 | 183,380 | 1,704,380 | 183,380 | 1,704,380 | 183,380 | |||||||||||||||||||||||||||||||
Exercise of share options | 3,183 | 348 | 11 | 1 | 11 | 1 | 3,172 | 347 | 3,172 | 347 | ||||||||||||||||||||||||||||
Repurchase of ordinary shares (in Shares) | -3,863,300 | |||||||||||||||||||||||||||||||||||||
Repurchase of ordinary shares | -9,244 | -23 | -9,221 | -9,244 | ||||||||||||||||||||||||||||||||||
Share-based compensation | 23,598 | 45,317 | 66,878 | 23,598 | 44,904 | 66,878 | 23,598 | 45,317 | 66,878 | |||||||||||||||||||||||||||||
Other | -11,894 | 152 | -45,678 | -11,894 | 152 | -45,678 | ||||||||||||||||||||||||||||||||
Balance, shares (in Shares) | 1,150,565,906 | 1,150,565,906 | 998,861,526 | 998,861,526 | 1,150,565,906 | 998,861,526 | 1,150,565,906 | 1,150,565,906 | 1,150,565,906 | 998,861,526 | ||||||||||||||||||||||||||||
Balance | $537,385 | 3,334,260 | 3,146,762 | 3,007,907 | 8,563 | 7,624 | $1,380 | 8,563 | 7,624 | $1,380 | 2,601,401 | 2,329,962 | 2,284,906 | $419,270 | 2,601,401 | 2,329,962 | 2,284,906 | $419,270 | 963,385 | 801,625 | 705,982 | $155,269 | 764,963 | 618,885 | 527,542 | $123,289 | -105,106 | -111,114 | -104,132 | ($16,940) | -105,106 | -111,114 | -104,132 | ($16,940) | ($41,500) | -257,491 |
Schedule_1_Condensed_Financial6
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Cash Flows | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
USD ($) | CNY | CNY | CNY | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | Parent Company [Member] | |
USD ($) | CNY | CNY | CNY | |||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||||||
Net income | $26,071 | 161,760 | 95,643 | 130,510 | $26,071 | 161,760 | 95,643 | 130,510 |
Adjustments to reconcile net income to net cash used in operating activities: | ||||||||
Equity in earnings of subsidiaries | -29,089 | -180,487 | -139,429 | -195,288 | ||||
Compensation expenses associated with stock options | 3,803 | 23,598 | 45,317 | 66,878 | 3,803 | 23,598 | 44,904 | 66,878 |
Changes in operating assets and liabilities: | ||||||||
Other receivables | 2,368 | 14,700 | 16,710 | -12,834 | 6,416 | 39,810 | 1,212 | 189,004 |
Other payables | -6,830 | -42,379 | -582 | -189 | ||||
Net cash generated from operating activities | 42,170 | 261,649 | 185,945 | 157,808 | 371 | 2,302 | 2,161 | 190,915 |
Cash flows from investing activities | ||||||||
(Increase) decrease in investment in subsidiaries | 4,811 | 29,853 | -34,102 | -12,899 | ||||
Advances (to) from subsidiaries | -6,948 | -43,110 | 37,337 | -176,826 | ||||
Disposal of subsidiaries | -1,532 | |||||||
Net cash (used in) generated from investing activities | -71,784 | -445,395 | -419,308 | 234,914 | -2,137 | -13,257 | 1,703 | -189,725 |
Cash flows from financing activities: | ||||||||
Proceeds on exercise of stock options | 513 | 3,183 | 348 | 513 | 3,183 | 348 | ||
Repurchase ordinary shares | -9,244 | -9,244 | ||||||
Net cash (used in) generated from financing activities | -1,260 | -7,817 | 3,350 | -86,696 | 513 | 3,183 | -8,896 | |
Net increase (decrease) in cash and cash equivalents | -30,874 | -191,563 | -230,013 | 306,026 | -1,253 | -7,772 | 3,864 | -7,706 |
Cash and cash equivalents at beginning of year | 368,859 | 2,288,623 | 2,525,618 | 2,222,160 | 1,849 | 11,471 | 14,589 | 24,776 |
Effect of exchange rate changes on cash and cash equivalents | 968 | 6,008 | -6,982 | -2,568 | 968 | 6,008 | -6,982 | -2,481 |
Cash and cash equivalents at end of year | $338,953 | 2,103,068 | 2,288,623 | 2,525,618 | $1,564 | 9,707 | 11,471 | 14,589 |