Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2015shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | CNINSURE INC. |
Trading Symbol | cisg |
Document Type | 20-F |
Current Fiscal Year End Date | --12-31 |
Entity Common Stock, Shares Outstanding | 1,155,059,526 |
Amendment Flag | false |
Entity Central Index Key | 1,413,855 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Dec. 31, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) |
Current assets: | |||
Cash and cash equivalents | ¥ 1,115,266 | $ 172,167 | ¥ 2,103,068 |
Restricted cash | 17,585 | 2,715 | 7,478 |
Short term investments | 2,026,256 | 312,800 | 688,900 |
Accounts receivable, net of allowance for doubtful accounts of RMB16,587 and RMB13,246 (US$2,045) as of December 31, 2014 and 2015, respectively (Note 2(e)) | 241,264 | 37,245 | 186,150 |
Insurance premium receivables | 1,526 | 236 | 472 |
Other receivables (Note 4) | 51,828 | 8,001 | 88,149 |
Amounts due from related parties (Note 15) | 36,508 | 5,636 | 209,601 |
Other current assets | 22,828 | 3,524 | 17,908 |
Total current assets | 3,513,061 | 542,324 | 3,301,726 |
Non-current assets: | |||
Property, plant, and equipment, net (Note 5) | 34,145 | 5,271 | 47,171 |
Goodwill, net (Note 6) | 133,474 | 20,605 | 133,474 |
Intangible assets, net (Note 2(g)) | 19,708 | 3,042 | 31,598 |
Deferred tax assets (Note 11) | 1,658 | 256 | 2,638 |
Investment in affiliates (Note 7) | 284,194 | 43,872 | 219,703 |
Other non-current assets | 28,188 | 4,351 | 12,176 |
Total non-current assets | 501,367 | 77,397 | 446,760 |
Total assets | 4,014,428 | 619,721 | 3,748,486 |
Current liabilities: | |||
Accounts payable (including accounts payable of the consolidated variable interest entities ("VIEs") without recourse to CNinsure Inc. of RMB4,453 and RMB4,141 (US$639) as of December 31, 2014 and 2015, respectively) | 160,891 | 24,837 | 128,765 |
Insurance premium payables (including insurance premium payables of the consolidated VIEs without recourse to CNinsure Inc. of RMB268 and RMB1,680 (US$259) as of December 31, 2014 and 2015, respectively) | 5,187 | 801 | 2,942 |
Other payables and accrued expenses (including other payables and accrued expenses of the consolidated VIEs without recourse to CNinsure Inc. of RMB7,099 and RMB5,720 (US$883) as of December 31, 2014 and 2015, respectively) (Note 9) | 213,562 | 32,968 | 109,412 |
Accrued payroll (including accrued payroll of the consolidated VIEs without recourse to CNinsure Inc. of RMB1,083 and RMB1,625 (US$251) as of December 31, 2014 and 2015, respectively ) | 48,150 | 7,433 | 40,096 |
Income taxes payable (including income taxes payable of the consolidated VIEs without recourse to CNinsure Inc. of RMB2,571 and RMB1,152 (US$178) as of December 31, 2014 and 2015, respectively) | 60,658 | 9,364 | 54,225 |
Total current liabilities | 488,448 | 75,403 | 335,440 |
Non-current liabilities: | |||
Other tax liabilities (Note 11) | 70,354 | 10,861 | 53,855 |
Deferred tax liabilities (Note 11) | 22,057 | 3,405 | 24,931 |
Total non-current liabilities | 92,411 | 14,266 | 78,786 |
Total liabilities | ¥ 580,859 | $ 89,669 | ¥ 414,226 |
Commitments and contingencies (Note 16) | |||
Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 1,150,565,906 and 1,155,059,526 as of December 31, 2014 and 2015, respectively) (Note 12) | ¥ 8,592 | $ 1,326 | ¥ 8,563 |
Additional paid-in capital | 2,454,244 | 378,870 | 2,601,401 |
Statutory reserves | 302,115 | 46,639 | 198,422 |
Retained earnings | 871,356 | 134,514 | 764,963 |
Accumulated other comprehensive loss | (50,048) | (7,726) | (105,106) |
Subscription receivables (Note 2(m)) | (268,829) | (41,500) | (257,491) |
Total shareholders’ equity | 3,317,430 | 512,123 | 3,210,752 |
Noncontrolling interests | 116,139 | 17,929 | 123,508 |
Total equity | 3,433,569 | 530,052 | 3,334,260 |
Total liabilities and equity | 4,014,428 | 619,721 | 3,748,486 |
Variable Interest Entities Without Recourse [Member] | |||
Current liabilities: | |||
Accounts payable (including accounts payable of the consolidated variable interest entities ("VIEs") without recourse to CNinsure Inc. of RMB4,453 and RMB4,141 (US$639) as of December 31, 2014 and 2015, respectively) | 4,141 | 639 | 4,453 |
Insurance premium payables (including insurance premium payables of the consolidated VIEs without recourse to CNinsure Inc. of RMB268 and RMB1,680 (US$259) as of December 31, 2014 and 2015, respectively) | 1,680 | 259 | 268 |
Other payables and accrued expenses (including other payables and accrued expenses of the consolidated VIEs without recourse to CNinsure Inc. of RMB7,099 and RMB5,720 (US$883) as of December 31, 2014 and 2015, respectively) (Note 9) | 5,720 | 883 | 7,099 |
Accrued payroll (including accrued payroll of the consolidated VIEs without recourse to CNinsure Inc. of RMB1,083 and RMB1,625 (US$251) as of December 31, 2014 and 2015, respectively ) | 1,625 | 251 | 1,083 |
Income taxes payable (including income taxes payable of the consolidated VIEs without recourse to CNinsure Inc. of RMB2,571 and RMB1,152 (US$178) as of December 31, 2014 and 2015, respectively) | ¥ 1,152 | $ 178 | ¥ 2,571 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥)¥ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014CNY (¥)¥ / sharesshares |
Allowance for doubtful accounts | ¥ 13,246 | $ 2,045 | ¥ 16,587 |
Accounts payable | 160,891 | 24,837 | 128,765 |
Insurance premium payables | 5,187 | 801 | 2,942 |
Other payables and accrued expenses | 213,562 | 32,968 | 109,412 |
Accrued payroll | 48,150 | 7,433 | 40,096 |
Income taxes payable | ¥ 60,658 | $ 9,364 | ¥ 54,225 |
Authorized shares (in Shares) | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 |
Par value (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0.001 | $ 0.001 | ¥ 0.001 |
Shares issued (in Shares) | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 |
Shares outstanding (in Shares) | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 |
Variable Interest Entities Without Recourse [Member] | |||
Accounts payable | ¥ 4,141 | $ 639 | ¥ 4,453 |
Insurance premium payables | 1,680 | 259 | 268 |
Other payables and accrued expenses | 5,720 | 883 | 7,099 |
Accrued payroll | 1,625 | 251 | 1,083 |
Income taxes payable | ¥ 1,152 | $ 178 | ¥ 2,571 |
Consolidated Statements of Inco
Consolidated Statements of Income and Comprehensive Income (Loss) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015CNY (¥)¥ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014CNY (¥)¥ / sharesshares | Dec. 31, 2013CNY (¥)¥ / sharesshares | ||
Net revenues: | |||||
Revenues | ¥ 2,828,308 | $ 436,616 | ¥ 2,150,011 | ¥ 1,757,024 | |
Operating costs and expenses: | |||||
Operating costs and expenses | (2,150,506) | (331,981) | (1,615,157) | (1,293,372) | |
Selling expenses | (143,279) | (22,118) | (107,263) | (96,461) | |
General and administrative expenses* | [1] | (456,001) | (70,394) | (396,692) | (349,205) |
Total operating costs and expenses | (2,749,786) | (424,493) | (2,119,112) | (1,739,038) | |
Income from operations | 78,522 | 12,123 | 30,899 | 17,986 | |
Other income, net: | |||||
Investment income | 65,624 | 10,131 | 44,240 | 8,886 | |
Interest income | 57,234 | 8,835 | 82,251 | 84,250 | |
Other, net | 13,042 | 2,013 | 2,330 | (4,601) | |
Income from operations before income taxes and income of affiliates | 214,422 | 33,102 | 159,720 | 106,521 | |
Income tax expense | (25,865) | (3,993) | (24,289) | (27,158) | |
Share of income of affiliates | 26,924 | 4,156 | 30,649 | 20,621 | |
Net income | 215,481 | 33,265 | 166,080 | 99,984 | |
Less: Net income attributable to the noncontrolling interests | 5,395 | 833 | 4,320 | 4,341 | |
Net income attributable to the Company's shareholders | ¥ 210,086 | $ 32,432 | ¥ 161,760 | ¥ 95,643 | |
Net income per share: | |||||
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0.18 | $ 0.03 | ¥ 0.16 | ¥ 0.10 | |
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0.17 | $ 0.03 | ¥ 0.16 | ¥ 0.10 | |
Net income per American Depositary Shares ("ADS"): | |||||
Basic (in Shares) | shares | 1,151,705,374 | 1,151,705,374 | 1,005,842,212 | 998,861,526 | |
Diluted (in Shares) | shares | 1,203,323,521 | 1,203,323,521 | 1,012,591,387 | 1,000,570,018 | |
Net income | ¥ 215,481 | $ 33,265 | ¥ 166,080 | ¥ 99,984 | |
Other comprehensive (loss) income, net of tax: | |||||
Foreign currency translation adjustments | 6,153 | 949 | 6,008 | (6,982) | |
Share of other comprehensive income of affiliates, net of tax | 37,567 | 5,799 | |||
Comprehensive income | 259,201 | 40,013 | 172,088 | 93,002 | |
Less: Comprehensive income attributable to the noncontrolling interests | 5,395 | 833 | 4,320 | 4,341 | |
Comprehensive income attributable to the CNinsure Inc’s shareholders | 253,806 | 39,180 | 167,768 | 88,661 | |
Agency [Member] | |||||
Net revenues: | |||||
Revenues | 2,155,264 | 332,716 | 1,624,410 | 1,418,512 | |
Operating costs and expenses: | |||||
Operating costs and expenses | (1,675,261) | (258,616) | (1,261,888) | (1,094,843) | |
Income from operations | 185,935 | 28,704 | 137,539 | 113,206 | |
Brokerage [Member] | |||||
Net revenues: | |||||
Revenues | 369,198 | 56,994 | 232,620 | 63,418 | |
Operating costs and expenses: | |||||
Operating costs and expenses | (293,875) | (45,366) | (185,593) | (47,351) | |
Income from operations | 50,074 | 7,730 | 35,603 | 9,699 | |
Claims Adjusting Segment [Member] | |||||
Net revenues: | |||||
Revenues | 303,846 | 46,906 | 292,981 | 261,206 | |
Operating costs and expenses: | |||||
Operating costs and expenses | (181,370) | (27,999) | (167,676) | (142,245) | |
Income from operations | 11,233 | 1,735 | 17,442 | 27,077 | |
Other Segments [Member] | |||||
Net revenues: | |||||
Revenues | ¥ | 13,888 | ||||
Operating costs and expenses: | |||||
Operating costs and expenses | ¥ | (8,933) | ||||
Income from operations | ¥ (168,720) | $ (26,046) | ¥ (159,685) | ¥ (131,996) | |
American Depositary Shares [Member] | |||||
Net income per share: | |||||
Basic (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 3.65 | $ 0.56 | ¥ 3.22 | ¥ 1.92 | |
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 3.49 | $ 0.54 | ¥ 3.19 | ¥ 1.91 | |
[1] | Including share-based compensation expenses of RMB45,317, RMB23,598 and RMB17,653 (US$2,725), for the years ended December 31, 2013, 2014 and 2015,respectively. |
Consolidated Statements of Inc5
Consolidated Statements of Income and Comprehensive Income (Loss) (Parentheticals) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Share-based compensation expenses | ¥ 17,653 | $ 2,725 | ¥ 23,598 | ¥ 45,317 |
Consolidated Statements of Shar
Consolidated Statements of Shareholder’s Equity ¥ in Thousands, $ in Thousands | Common Stock [Member]CNY (¥)shares | Common Stock [Member]USD ($)shares | Additional Paid-in Capital [Member]CNY (¥) | Additional Paid-in Capital [Member]USD ($) | Retained Earnings, Appropriated [Member]CNY (¥) | Retained Earnings, Appropriated [Member]USD ($) | Retained Earnings [Member]CNY (¥) | Retained Earnings [Member]USD ($) | AOCI Attributable to Parent [Member]CNY (¥) | AOCI Attributable to Parent [Member]USD ($) | Subscription Receivables [Member]CNY (¥) | Subscription Receivables [Member]USD ($) | Noncontrolling Interest [Member]CNY (¥) | Noncontrolling Interest [Member]USD ($) | Treasury Stock [Member]CNY (¥)shares | CNY (¥)shares | USD ($)shares |
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 7,624 | ¥ 2,284,906 | ¥ 178,440 | ¥ 527,542 | ¥ (104,132) | ¥ 113,527 | ¥ 3,007,907 | ||||||||||
Balance at Dec. 31, 2012 | ¥ 7,624 | 2,284,906 | 178,440 | 527,542 | (104,132) | 113,527 | 3,007,907 | ||||||||||
Balance (in Shares) at Dec. 31, 2012 | shares | 998,861,526 | 998,861,526 | |||||||||||||||
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 7,624 | 2,284,906 | 178,440 | 527,542 | (104,132) | 113,527 | 3,007,907 | ||||||||||
Net income | 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 (in Shares) at Dec. 31, 2013 | shares | 998,861,526 | 998,861,526 | |||||||||||||||
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 7,624 | 2,329,962 | 182,740 | 618,885 | (111,114) | 118,665 | 3,146,762 | ||||||||||
Balance as of December 31, 2015 in US$ (in Dollars) | 7,624 | 2,329,962 | 182,740 | 618,885 | (111,114) | ¥ (257,491) | 118,665 | 3,334,260 | |||||||||
Net income | 161,760 | 4,320 | 166,080 | ||||||||||||||
Issue new shares to employees | ¥ 928 | 256,563 | (257,491) | ||||||||||||||
Issue new shares to employees (in Shares) | shares | 150,000,000 | 150,000,000 | |||||||||||||||
Foreign currency translation | 6,008 | 6,008 | |||||||||||||||
Exercise of share options | ¥ 11 | 3,172 | ¥ 3,183 | ||||||||||||||
Exercise of share options (in Shares) | shares | 1,704,380 | 1,704,380 | 1,704,380 | 1,704,380 | |||||||||||||
Share-based compensation | 23,598 | ¥ 23,598 | |||||||||||||||
Provision for statutory reserves | 15,682 | (15,682) | |||||||||||||||
Acquisition of additional shares in subsidiaries | (11,894) | 523 | (11,371) | ||||||||||||||
Balance at Dec. 31, 2014 | ¥ 8,563 | 2,601,401 | 198,422 | 764,963 | (105,106) | (257,491) | 123,508 | ¥ 3,334,260 | |||||||||
Balance (in Shares) at Dec. 31, 2014 | shares | 1,150,565,906 | 1,150,565,906 | 1,150,565,906 | 1,150,565,906 | |||||||||||||
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 8,563 | 2,601,401 | 198,422 | 764,963 | (105,106) | (257,491) | 123,508 | ¥ 3,334,260 | |||||||||
Balance as of December 31, 2015 in US$ (in Dollars) | 8,563 | $ 1,326 | 2,601,401 | $ 378,870 | 198,422 | $ 46,639 | 764,963 | $ 134,514 | (105,106) | $ (7,726) | (257,491) | $ (41,500) | 123,508 | $ 17,929 | 3,334,260 | $ 530,052 | |
Net income | 210,086 | 5,395 | 215,481 | 33,265 | |||||||||||||
Foreign currency translation | 17,491 | (11,338) | 6,153 | 949 | |||||||||||||
Repurchase of ordinary shares | ¥ (6,276) | (6,276) | $ (969) | ||||||||||||||
Repurchase of ordinary shares (in Shares) | shares | (2,261,100) | ||||||||||||||||
Exercise of share options | ¥ 29 | (4,787) | ¥ 6,276 | ¥ 1,518 | |||||||||||||
Exercise of share options (in Shares) | shares | 4,493,620 | 4,493,620 | 2,261,100 | 6,754,720 | 6,754,720 | ||||||||||||
Share-based compensation | 17,653 | ¥ 17,653 | |||||||||||||||
Provision for statutory reserves | 104,414 | (104,414) | |||||||||||||||
Acquisition of additional shares in subsidiaries | (160,023) | (27,787) | (187,810) | ||||||||||||||
Capital injection by noncontrolling interest | 17,000 | 17,000 | |||||||||||||||
Share of other comprehensive income of affiliates | 37,567 | 37,567 | $ 5,799 | ||||||||||||||
Disposal of subsidiaries | (721) | 721 | 473 | 473 | |||||||||||||
Dividends distributed to noncontrolling interest | (2,450) | (2,450) | |||||||||||||||
Balance at Dec. 31, 2015 | ¥ 8,592 | $ 1,326 | 2,454,244 | 378,870 | 302,115 | 46,639 | 871,356 | 134,514 | (50,048) | (7,726) | (268,829) | (41,500) | 116,139 | 17,929 | ¥ 3,433,569 | $ 530,052 | |
Balance (in Shares) at Dec. 31, 2015 | shares | 1,155,059,526 | 1,155,059,526 | 1,155,059,526 | 1,155,059,526 | |||||||||||||
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 8,592 | $ 1,326 | ¥ 2,454,244 | $ 378,870 | ¥ 302,115 | $ 46,639 | ¥ 871,356 | $ 134,514 | ¥ (50,048) | $ (7,726) | ¥ (268,829) | $ (41,500) | ¥ 116,139 | $ 17,929 | ¥ 3,433,569 | $ 530,052 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
OPERATING ACTIVITIES | ||||
Net income | ¥ 215,481 | $ 33,265 | ¥ 166,080 | ¥ 99,984 |
Adjustments to reconcile net income to net cash generated from operating activities: | ||||
Depreciation | 18,383 | 2,838 | 28,235 | 31,253 |
Amortization of acquired intangible assets | 11,571 | 1,786 | 16,826 | 13,665 |
Allowance for doubtful receivables | 7,597 | 1,173 | 6,060 | 5,303 |
Compensation expenses associated with stock options | 17,653 | 2,725 | 23,598 | 45,317 |
Loss (gain) on disposal of property, plant and equipment | (126) | (20) | 292 | (17) |
Investment income | (31,092) | (4,800) | (15,419) | (2,700) |
Write down of dividend receivables | 7,561 | |||
Share of income of affiliates | (26,924) | (4,156) | (30,649) | (20,621) |
Deferred taxes | (1,067) | (165) | (1,318) | (3,404) |
Changes in operating assets and liabilities: | ||||
Accounts receivable | (61,356) | (9,472) | 16,036 | (12,496) |
Insurance premium receivables | (1,054) | (163) | (225) | (47) |
Other receivables | 7,222 | 1,115 | 14,700 | 16,710 |
Amounts due from related parties | (8,088) | (1,249) | (2,513) | 4,500 |
Other current assets | (4,920) | (759) | 2,900 | (3,886) |
Other non-current assets | 1,400 | |||
Accounts payable | 33,026 | 5,098 | 27,453 | (5,643) |
Insurance premium payables | 2,244 | 347 | (1,116) | 1,124 |
Other payables and accrued expenses | 71,506 | 11,039 | 3,911 | 7,215 |
Accrued payroll | 9,143 | 1,412 | 638 | (2,412) |
Income taxes payable | 6,433 | 993 | (1,768) | (9) |
Other tax liabilities | 15,672 | 2,419 | 7,928 | 3,148 |
Net cash generated from operating activities | 281,304 | 43,426 | 261,649 | 185,945 |
Cash flows from investing activities: | ||||
Purchase of short term investments | (2,308,956) | (356,441) | (546,600) | (283,900) |
Proceeds from disposal of short term investments | 994,839 | 153,577 | 118,208 | 32,291 |
Purchase of property, plant and equipment | (6,663) | (1,029) | (6,209) | (36,181) |
Purchase of intangible asset | (118) | |||
Proceeds from disposal of property and equipment | 539 | 83 | 614 | 249 |
Acquisition of subsidiaries, net of cash acquired of nil, RMB1,291 and nil in 2013, 2014 and 2015, respectively | (62,709) | |||
Disposal of subsidiaries, net of cash disposed of RMB2,656, nil and RMB4,544 (US$701) in 2013, 2014 and 2015, respectively | 15,476 | 2,389 | (1,532) | |
(Increase) decrease in restricted cash | (10,107) | (1,560) | 3,622 | (229) |
(Increase) decrease in other receivables | 16,120 | 2,489 | 113,632 | (67,706) |
Addition in investment in non-current assets | (13,980) | (2,158) | (7,019) | |
Return of investment in non-current assets | 3,900 | |||
(Increase) decrease in amounts due from related parties | 181,181 | 27,969 | (62,716) | (62,300) |
Net cash used in investing activities | (1,131,551) | (174,681) | (445,395) | (419,308) |
Cash flows from financing activities: | ||||
Acquisition of additional interests in subsidiaries | (153,500) | (23,696) | (11,000) | |
Capital injection by noncontrolling interests | 17,000 | 2,624 | 3,350 | |
Dividend distributed to noncontrolling interest | (2,450) | (378) | ||
Proceeds on exercise of stock options | 1,518 | 234 | 3,183 | |
Repurchase of ordinary shares | (6,276) | (969) | ||
Net cash generated from (used in) financing activities | (143,708) | (22,185) | (7,817) | 3,350 |
Net decrease in cash and cash equivalents | (993,955) | (153,440) | (191,563) | (230,013) |
Cash and cash equivalents at beginning of year | 2,103,068 | 324,658 | 2,288,623 | 2,525,618 |
Effect of exchange rate changes on cash and cash equivalents | 6,153 | 949 | 6,008 | (6,982) |
Cash and cash equivalents at end of year | 1,115,266 | 172,167 | 2,103,068 | 2,288,623 |
Supplemental disclosure of cash flow information: | ||||
Interest paid | 0 | 0 | 0 | 0 |
Income taxes paid | ¥ 4,383 | $ 677 | ¥ 19,135 | ¥ 27,153 |
Consolidated Statements of Cas8
Consolidated Statements of Cash Flows (Parentheticals) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Acquisition of subsidiaries, cash acquired | ¥ 0 | ¥ 1,291 | ¥ 0 | |
Disposal of subsidiaries, cash disposed | ¥ 4,544 | $ 701 | ¥ 0 | ¥ 2,656 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | (1) Organization and Description of Business CNinsure Inc. (the "Company") was incorporated in the Cayman Islands on April 10, 2007. 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 in the People’s Republic of China (the "PRC"). |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
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 represents guarantee deposits required by China Insurance Regulatory Commission ("CIRC") in order to protect insurance premium appropriation by insurance agency as well as entrustment deposit received from the members of eHuzhu, an online mutual aid platform operated by the Group in an escrow account of RMB4,536 and RMB12,398 as of December 31, 2014 and 2015, 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, 2014 and 2015. (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, 2014 2015 RMB RMB Accounts receivable 202,737 254,510 Allowance for doubtful accounts (16,587 ) (13,246 ) Accounts receivable, net 186,150 241,264 The following table summarizes the movement of the Group's allowance for doubtful accounts: 2013 2014 2015 RMB RMB RMB Balance at the beginning of the year 9,903 12,655 16,587 Provision for doubtful accounts 5,303 3,932 4,991 Write-offs (2,551 ) — (8,332 ) Balance at the ending of the year 12,655 16,587 13,246 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 life (Years) Estimated residual 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: 2013 2014 2015 RMB RMB RMB Commission and fees under operating costs 4,988 5,508 2,056 Selling expenses 1,636 1,282 1,180 General and administrative expenses 24,629 21,445 15,147 Depreciation for the year 31,253 28,235 18,383 (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, 2015. 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 2013, 2014 and 2015, 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, 2013, 2014 and 2015. 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, 2014 Useful life Cost Accumulated amortization Accumulated Net carrying values 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 As of December 31, 2015 Useful life Cost Accumulated amortization Accumulated Net carrying values RMB RMB RMB RMB Brand name Indefinite 20,111 — (16,404 ) 3,707 Trade name 9.4 to 10 8,898 (4,808 ) — 4,090 Customer relationship 4.6 to 9.8 61,186 (51,264 ) (2,953 ) 6,969 Non-compete agreement 3 to 6.25 69,075 (33,819 ) (34,692 ) 564 Agency agreement and license 4.6 to 9.8 20,404 (15,949 ) (77 ) 4,378 Software and system 5 to 10 5,680 (5,680 ) — — 185,354 (111,520 ) (54,126 ) 19,708 Aggregate amortization expenses for intangible assets were RMB13,665, RMB16,826 and RMB11,571 for the years ended December 31, 2013, 2014 and 2015, 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, 2013, 2014 and 2015, 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, 2013, 2014 and 2015, the Group recognized no impairment losses on its indefinite-lived intangible assets. The estimated amortization expenses for the next five years are: RMB5,204 in 2016, RMB3,881 in 2017, RMB3,667 in 2018, RMB2,502 in 2019 and RMB658 in 2020, and an aggregate amount of RMB89 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. (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 at US$0.27 per ordinary share and 50,000,000 ordinary shares at 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 and 2015. 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 RMB268,829 (US$41,500). (n) Treasury shares Treasury shares represents ordinary shares repurchased by the Group that are no longer outstanding and are held by the Group. The repurchase of ordinary shares is accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. During the year ended December 31, 2015, the Group had repurchased total of 2,261,100 shares from the market for a cash consideration of RMB6,276. As of December 31, 2015, all the treasury stock had been re-issued for the purpose of stock options exercised. (o) 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. Since 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 (p) 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. 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. b. 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 RMB45,317, RMB23,598 and RMB17,653 for the years ended December 31, 2013, 2014 and 2015, respectively, were included in the general and administrative expenses. (q) 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 as they become payable in accordance with the rules of the above mentioned defined contribution plans. (r) 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 deminims to date are recognized upon notification from the insurance carriers. Actual commission and fee adjustments in connection with the cancellation of policies were 0.2%, 0.2% and 0.2% of the total commission and fee revenues during years ended December 31, 2013, 2014 and 2015, 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 RMB99,931, RMB120,965 and RMB157,234 for the years ended December 31, 2013, 2014 and 2015, 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 years ended December 31, 2014 and 2015 amounted to RMB14,997 and RMB16,370. In March 2016, during the fourth session of the 12th National People’s Congress, it was announced that the VAT reform will be fully rolled out and extended to all industries including construction, real estate, financial services and lifestyle services. Subsequently, the State Administration of Taxation and Ministry of Finance jointly issued a Notice on Preparing for the Full Implementation of the VAT Reform (Cai Shui [2016] No. 32). Accordingly, the Group will pay value-added tax instead of business tax starting from May 1, 2016. The Group is in the process of evaluating the impact on the consolidated financial statements. (s) 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 when incurred. No change in fair value of contingent consideration payable was charged to consolidated statement of income and comprehensive income for the years ended December 31, 2013, 2014 and 2015. 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 in the amount of nil, nil and nil for the years ended December 31, 2013, 2014 and 2015, respectively. (t) Fair Value of Financial Instruments. Fair value is considered to be the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs may be used to measure fair value include: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The carrying values of the Group’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, insurance premium receivables and payables, other receivables, accounts payable, amounts due from related parties, approximate their fair values due to the short term nature of these instruments. Measured at fair value on a recurring basis As of December 31, 2015 and 2014, information about inputs into the fair value measurements of the Group’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows. Fair Value Measurements at Reporting Date Using Description As of Quoted Prices Significant Significant RMB RMB RMB RMB Short-term investments - debt security 2,026,256 — 2,026,256 — Fair Value Measurements at Reporting Date Using Description As of Quoted Prices Significant Significant RMB RMB RMB RMB Short-term investments - debt security 688,900 — 688,900 — The debt |
Note 3 - Acquisitions and Reorg
Note 3 - Acquisitions and Reorganisation | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | (3) Acquisitions and reorganisation Acquisitions of additional interests in subsidiaries During the year ended December 31, 2015, the Group had entered into several agreements to acquire from the non-controlling shareholders of certain of the Group’s subsidiaries the additional interests in those subsidiaries for the total considerations of RMB187,810. The Group retains its controlling financial interests before and after the transactions. The schedule below discloses the effects of changes in the Group’s ownership in subsidiaries on the Group's equity: Year ended December RMB Net income attributable to the Company's shareholders 210,086 Decrease in Company's additional paid-in capital for acquisitions of additional equity interests from noncontrolling interests (160,023 ) Changes from net income attributable to Company’s shareholders and transfers to noncontrolling interests 50,063 Reorganisation In 2015, the Group completed corporate restructuring relating to CNinsure Insurance Surveyors & Loss Adjustors Holding Co., Ltd. ("CISLA"), or the CISLA Restructuring, the operating company for the claims adjusting segment. Prior to the CISLA Restructuring, the Group owned 51% of the equity interests of Guangdong CNinsure Fangzhong Investment Management Co., Ltd., ("Fangzhong"), which held 100% equity interests in CISLA. In June 2015, CISLA introduced two new investors, Shenzhen Yuanqian Investment Partnership (Limited Partnership) and Shenzhen Longqian Investment Partnership (Limited Partnership), hereinafter referred to as “Yuanqian” and “Longqian”. Yuanqian and Longqian are owned by certain members of the management of the claims adjusting segment. Yuanqian and Longqian together subscribed for total of 12.4% of the equity interests in CISLA for a cash consideration of RMB17,000. As a result, Fangzhong's shareholding in CISLA was diluted from 100% to 87.6%. In July 2015, Fangzhong transferred 44.7% and 42.9% of the equity interests in CISLA to Guangdong Meidiya Investment Co., Ltd. ("Meidiya Investments"), a subsidiary of the Group, and 22 individuals, among whom were management members of the claims adjusting segment, for total purchase prices of RMB61,200 and RMB58,800, respectively. These purchase prices were calculated on the basis of total capital contribution by Fangzhong to CISLA. After the CISLA Restructuring, the Group owns 44.7% of the equity interests and remains as the largest shareholder. The Group continue to exercise substantial control over CISLA pursuant to shareholders’ agreements signed with Yuanqian, Longqian and two executive officers of the claims adjusting segment. The Group recorded stock compensation expense of RMB3,400, being the excess of the estimated fair value of Yuanqian, Longqian and 22 individual’s equity interest in CISLA over the consideration paid by the investors. The excess is deemed compensation to the two partnerships’ shareholders, who are members of the claims adjusting segment’s management, for their past services. In July 2015, in order to align the interests of the founding team of Chetong.net with the growth of the platform, Fangzhong, the subsidiary of the Group that initially owned 100% of the equity interests in Chetong Network and operated Chetong.net, transferred 80.1% of the equity interests in Chetong Network to the management and employees of Chetong Network for cash consideration of RMB16,020, and 19.9% of the equity interests in Chetong Network to CISLA for cash consideration of RMB3,980 which approximated its fair value at the disposal date. As a result, CISLA and the management and employees of Chetong Network currently hold 19.9% and 80.1% of Chetong Network, respectively. As part of the Company’s growth strategy, CISLA filed an application in November 2015 with National Equities Exchange and Quotations (“NEEQ”) to list on the New Third Board, an emerging over-the-counter stock market for medium- and small-cap companies in China. 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. As for the year ended December 31, 2015, all of the three subsidiaries failed to meet the performance criteria. The Group has issued waivers to the sellers of the three subsidiaries to release the return of considerations related to these three companies’ under-performance for both 2014 and 2015. 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 (liabilities) assets 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: Fair Value Acquired Useful life RMB (Years) Nanjing Wenzhou Jiaxing Customer relationship 6.7 4,840 2,920 4,630 Non-compete agreement 3.0 520 270 480 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 0.10 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, 2015 | |
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, 2014 2015 RMB RMB Advances to staff (i) 8,159 6,492 Advances to entrepreneurial agents (ii) 981 367 Rental deposits 5,701 7,655 Interest income receivables (iii) 46,472 29,708 Value-added tax recoverable (iv) 2,786 — Receivable from third parties (v) 17,020 — Other 7,030 7,606 88,149 51,828 (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, interest bearing receivable from third parties as described in (v) and accrued interest on subscription receivables (note 2(m)). (iv) As of 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, 2014 had been refunded during the year 2015. (v) As of December 31, 2014, receivable from third party represented the amount due from Guangdong Jintaiping Asset Management Co. Ltd in an amount of 17,020, which has been fully settled in 2015. |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
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, 2014 2015 RMB RMB Building 12,317 12,317 Office equipment, furniture and fixtures 127,498 128,401 Motor vehicles 35,229 26,341 Leasehold improvements 10,817 9,657 Total 185,861 176,716 Less: Accumulated depreciation (138,690 ) (142,571 ) Property, plant and equipment, net 47,171 34,145 No impairment for property, plant and equipment was recorded for the years ended December 31, 2013, 2014 and 2015. |
Note 6 - Goodwill
Note 6 - Goodwill | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Goodwill Disclosure [Text Block] | (6) Goodwill The movements in carrying amount of goodwill by reportable segments are as follows: Agency RMB Balance as of January 1, 2014 78,553 Addition for acquisitions in 2014 54,921 Balance as of December 31, 2014 133,474 Balance as of December 31, 2015 133,474 The gross amount and accumulated impairment losses by segment as of December 31, 2014 and 2015 are as follows: Agency Claims Total RMB RMB RMB Gross as of January 1, 2014 and December 31, 2014 1,096,102 38,077 1,134,179 Eliminated on disposal of a subsidiary — (16,940 ) (16,940 ) Gross as of December 31, 2015 1,096,102 21,137 1,117,239 Accumulated impairment loss as of January 1, 2014 and December 31, 2014 (962,628 ) (38,077 ) (1,000,705 ) Eliminated on disposal of a subsidiary — 16,940 16,940 Accumulated impairment loss as of December 31, 2015 (962,628 ) (21,137 ) (983,765 ) Net as of January 1, 2014, December 31, 2014 and 2015 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, 2013, 2014 and 2015, respectively. |
Note 7 - Investment in Affiliat
Note 7 - Investment in Affiliates | 12 Months Ended |
Dec. 31, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | (7) Investment in Affiliates As of December 31, 2014 and 2015, 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, and (ii) 20.6% equity interest in Sincere Fame International Limited ("Sincere Fame") which is financial services company registered in BVI and based in Guangzhou, PRC, primarily engaged 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. During the years ended December 31, 2013, 2014 and 2015, the Group recognized its share of income of affiliates in the amount of RMB20,621, RMB30,649 and RMB26,924 respectively. During the years ended December 31, 2013, 2014 and 2015, the Group recognized its share of other comprehensive income of affiliates in the amount of nil, nil and RMB37,567, respectively. Investment as of December 31, 2014 and 2015 were as follows: As of December 31, 2014 2015 RMB RMB Teamhead Automobile 498 528 Sincere Fame 219,205 283,666 Total 219,703 284,194 The summarized financial information of equity method investees is illustrated as below: As of December 31, 2014 2015 RMB RMB Balance sheet Current assets 364,045 1,348,637 Non-current assets 1,335,315 2,190,168 Current liabilities 929,731 2,389,167 Non-current liabilities 2,904 69,615 Year Ended December 31, 2013 2014 2015 Results of operation RMB RMB RMB Net Revenues 365,521 403,908 599,372 Gross profit 295,954 346,688 427,258 Income from operations 139,211 184,531 158,846 Net profit 116,674 148,891 130,647 |
Note 8 - Variable Interest Enti
Note 8 - Variable Interest Entities | 12 Months Ended |
Dec. 31, 2015 | |
Variable Interest Entities Disclosure [Abstract] | |
Variable Interest Entities Disclosure [Text Block] | (8) Variable Interest Entities 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. 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. 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, as of December 31, 2015, the Group still conducts part of its operations in China through contractual arrangements among its PRC subsidiaries and consolidated affiliated entities, Shenzhen Xinbao Investment Management Co., Ltd. ("Xinbao Investment") and Shenzhen Dianliang Information Technology Co., Ltd ("Dianliang Information") (collectively referred as the "Two PRC Affiliated Entities") and the equity holders of the Two PRC Affiliated Entities who are PRC nationals. To provide the Company effective control over the Two PRC Affiliated Entities, and the ability to receive substantially all of the economic benefits of the Two 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 Two PRC Affiliated Entities and their direct equity holders, refer to as the "VIE arrangements". Agreements that provide the Group effective control over the Two PRC Affiliated Entities Loan Agreements 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. When Ying Si Kang was transferred to Litian in 2014, each of the individual shareholders of Xinbao Investment was 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 Ying Si Kang Information described above. In addition, the individual shareholder of Dianliang Information also entered into a loan agreement with the Group’s subsidiary Xinlian Information, evidencing a zero interest loan granted to the individual shareholder, equal to his capital contribution to Dianliang Information. The terms of the loan agreement are substantially similar to those in the loan agreements of Xinbao Investment described above. Equity Pledge Agreements Pursuant to the equity pledge agreements between (1) 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 (2) Dianliang Information, Xinlian Information and the equity holder of Dianliang Information, the equity holders of the Two PRC Affiliated Entities have pledged their equity interests in the Two PRC Affiliated Entities to Ying Si Kang Information (later year of 2014 to Bao Si Kang Information) and Xinlian Information to secure their obligations under the loan agreements between (1) Ying Si Kang Information (later year of 2014 replaced with Bao Si Kang Information) and Xinbao Investment; (2) 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. The individual shareholder of Dianliang Information entered into a pledge agreement with the Group’s subsidiary Xinlian Information. The terms of the pledge agreement are substantially similar to those in the pledge agreements of Xinbao Investment described above. Irrevocable Power of attorney Pursuant to the power of attorney, the nominee equity holders of the Two 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 Two 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 Two PRC Affiliated Entities to attend shareholders' meetings of the Two PRC Affiliated Entities, each of the individual shareholders 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 Two 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 Two 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 Two 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 Two 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 Two PRC Affiliated Entities, for a purchase price equal to the amount of the individual shareholder’s actual capital contributions to the Two 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 subsidiary Ying Si Kang Information and most of the subsidiaries of the Two PRC Affiliated Entities, 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 Two 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 and can be renewed each year upon mutual agreement. In 2013, we provided IT platform and software services to most of subsidiaries of the Two PRC Affiliated Entities through another of our PRC subsidiaries, Litian. We ceased providing IT services to these entities in 2014. But we resumed providing such services to these entities through Ying Si Kang Information in 2015. These contractual arrangements allow the Group to effectively control the Two PRC Affiliated Entities and their subsidiaries, and to derive substantially all of the economic benefits from them. Accordingly, the Group treats the Two PRC Affiliated Entities as VIEs and because the Group is the primary beneficiary of the Two PRC Affiliated Entities, the Group has consolidated the financial results of the Two 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 Two PRC Affiliated Entities and their subsidiaries. The Group had also entered into similar contractual arrangements with the non-controlling interest shareholders of Guangdong Meidiya Investment before January, 2015 and Sichuan Yihe Investment Co., Ltd. ("Yihe Investments") before December 2015, respectively. In January 2015, the individual minority shareholders of Meidiya Investment transferred their respective equity interests in Meidiya Investment to CNinsure Group Company, the Group’s wholly-owned subsidiary. In addition, the contractual arrangements among Meidiya Investment, and their respective shareholders and subsidiaries were terminated. Consequently, Meidiya Investment became the Group’s wholly-owned subsidiary and ceased being a consolidated affiliated entity. In December 2015, the individual minority shareholders of Yihe Investment transferred their respective equity interests in Yihe Investment to Zhonglian Enterprise and Xinlian Information. As a result, Zhonglian Enterprise, Xinlian Information and CNinsure Group Company owns 39.1%, 40.9% and 20% of the equity interests of Yihe Investment, respectively. In addition, the contractual arrangements among Yihe Investment and their respective shareholders and subsidiaries were terminated. Consequently, Yihe Investment became the Group’s wholly-owned subsidiary and ceased being a consolidated affiliated entity. 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 Group have entered into contractual arrangements with the PRC Affiliated Entities which may be subject to scrutiny by the PRC tax authorities. A finding that the Group owe additional taxes could substantially reduce the consolidated net income of the PRC Affiliated Entities. 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 Group through contractual arrangements with Dianliang Information and Xinbao Investment, it controls the remaining five VIEs as of December 31, 2015 (seven VIEs as of December 31, 2014). The financial information of the Company’s VIEs and VIEs' subsidiaries as of December 31, 2014 and 2015 and for the years ended December 31, 2013, 2014 and 2015, before intra-group eliminations between VIEs and other group entities, is as follows: As of December 31, 2014 2015 RMB RMB Total assets 63,090 103,740 Total liabilities 38,716 104,795 Year Ended December 31, 2013 2014 2015 RMB RMB RMB Net Revenues 125,961 72,645 108,133 Net loss (3,767 ) (9,636 ) (14,554 ) Net cash used in operating activities (13,500 ) (49,782 ) 37,943 Net cash generated from (used in) investing activities 12,041 14,709 (31,682 ) Net cash generated from financing activities — 33,370 — |
Note 9 - Other Payables and Acc
Note 9 - Other Payables and Accrued Expenses | 12 Months Ended |
Dec. 31, 2015 | |
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, 2014 2015 RMB RMB Business and other tax payable 24,987 35,358 Refundable deposits from employees and agents 9,705 13,239 Professional fees 17,340 18,553 Accrued expenses to third parties (note i) 23,677 42,622 Payables for addition of office equipment, furniture and fixtures 8,618 8,618 Advance from third parties 8,542 35,808 Insurance compensation claim payable to customers 1,563 823 Payable for equity acquisition of investment in affiliates/subsidiaries 4,685 38,495 Contributions from members of eHuzhu mutual aid program 2,341 8,995 Others 7,954 11,051 Total 109,412 213,562 (i) As of December 31, 2015, included in accrued expenses to third parties represents an amount of RMB19,500 payable to Chengdu Puyi Bohui Information Technology Co., Ltd., the shareholder of CNinsure Puyi Fund Sales Co. Ltd. ("Puyi Fund Sales") for marketing activities. The Group beneficially owns 19.5% equity interests in Puyi Fund Sales. Other payables and accrued expenses are unsecured, interest-free and repayable on demand. |
Note 10 - Employee Benefit Plan
Note 10 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
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, 2013, 2014 and 2015, the Group contributed RMB42,919, RMB45,467 and RMB47,955, respectively. |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
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, 2013, 2014 and 2015, if applicable. 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 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 years ended December 31, 2014 and 2015. 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 years ended December 31, 2014 and 2015. The Group accounts for uncertain income tax positions by prescribing a minimum recognition threshold in the financial statements. As of December 31, 2015, 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, 2013 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 Effect per FASB ASU No. 2013-11—Income Taxes (Topic 740) 825 Gross increase in prior-period tax positions 15,674 Balance as of December 31, 2015 70,354 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, 2014 and 2015. 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, 2013 2014 2015 RMB RMB RMB Current tax expense 29,436 25,607 26,932 Deferred tax income (2,278 ) (1,318 ) (1,067 ) Income tax expense 27,158 24,289 25,865 The principal components of the deferred income tax assets and liabilities are as follows: As of December 31, 2014 2015 RMB RMB Current deferred tax assets: Operating loss carryforward 4,313 1,079 Less: valuation allowances (4,313 ) (1,079 ) Current deferred tax asset, net — — Non-current deferred tax assets: Operating loss carryforward, after offset effect of ASU 2013-11 33,930 27,245 Less: valuation allowances (31,292 ) (25,587 ) Non-current deferred tax asset, net 2,638 1,658 Total 2,638 1,658 Deferred tax liabilities: Intangible assets, net 6,769 3,895 Investment income 18,162 18,162 Total 24,931 22,057 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, 2014 and 2015. The Group had total operating loss carry-forwards of RMB166,557 and RMB131,198 as of December 31, 2014 and 2015, respectively. Such operating loss carry-forwards expire five years after the PRC subsidiaries or VIEs incur the loss unless utilized. As of December 31, 2015, the operating loss carry-forwards of RMB14,039, RMB20,306, RMB28,200, RMB34,400 and RMB34,254 is to expire for the years ended December 31, 2016, 2017, 2018, 2019 and 2020, respectively. During the year ended December 31, 2013, 2014 and 2015, nil, nil and RMB4,251, respectively, of tax loss carried forward has been expired and canceled. 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, 2013 2014 2015 RMB RMB RMB Income before income taxes and income of affiliates 106,521 159,720 214,422 PRC statutory tax rate 25 % 25 % 25 % Income tax at statutory tax rate 26,630 39,930 53,605 Expenses not deductible for tax purposes: Entertainment 494 579 685 Other 12,974 6,482 5,176 Tax exemption and tax relief: Tax rate differential (27,686 ) (34,315 ) (44,381 ) Change in valuation allowance 13,812 2,934 (4,194 ) Uncertain tax provisions 3,148 7,928 15,674 Other (2,214 ) 751 (700 ) Income tax expense 27,158 24,289 25,865 Additional PRC income taxes that would have been payable without the tax exemption amounted to approximately RMB27,686, RMB34,315 and RMB44,381 for the years ended December 31, 2013, 2014 and 2015, respectively. Without such exemption, the Group’s basic and diluted net profit per share for the year ended December 31, 2013, 2014, and 2015 would have been decreased by RMB0.03, RMB0.03, and RMB0.04 respectively. 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 RMB1,967,287 and RMB1,954,541 as of December 31, 2014 and 2015 respectively, are considered to be indefinitely reinvested, and accordingly, no provision 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 RMB196,729 and RMB195,454, 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-percent-owned 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, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | (12) Capital Structure During 2015, the Company issued 6,754,720 new shares for the exercise of options, representing 0.59% of the total shares outstanding as of December 31, 2015. During 2015, the Company repurchased 2,261,100 shares from the public market, representing 0.20% of the total shares outstanding as of December 31, 2015. 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 Per Share
Note 13 - Net Income Per Share | 12 Months Ended |
Dec. 31, 2015 | |
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, 2013 2014 2015 RMB RMB RMB Basic: Net income 99,984 166,080 215,481 Less: Net income attributable to the noncontrolling interests 4,341 4,320 5,395 Net income attributable to the Company’s shareholders 95,643 161,760 210,086 Weighted average number of ordinary shares outstanding 998,861,526 1,005,842,212 1,151,705,374 Basic net income per ordinary share 0.10 0.16 0.18 Basic net income per ADS 1.92 3.22 3.65 Diluted: Net income 99,984 166,080 215,481 Less: Net income attributable to the noncontrolling interests 4,341 4,320 5,395 Net income attributable to the Company’s shareholders 95,643 161,760 210,086 Weighted average number of ordinary shares outstanding 998,861,526 1,005,842,212 1,151,705,374 Weighted average number of dilutive potential ordinary shares from share options 1,708,492 6,749,175 51,618,147 Total 1,000,570,018 1,012,591,387 1,203,323,521 Diluted net income per ordinary share 0.10 0.16 0.17 Diluted net income per ADS 1.91 3.19 3.49 During the years ended December 31, 2013, 2014 and 2015, 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 38,222,880, 16,920 and nil, respectively. |
Note 14 - Distribution of Profi
Note 14 - Distribution of Profits | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015. 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 RMB198,422 and RMB302,115 as of December 31, 2014 and 2015, respectively. |
Note 15 - Related Party Balance
Note 15 - Related Party Balances and Transactions | 12 Months Ended |
Dec. 31, 2015 | |
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, 2014 and 2015 are as follows: a) Amounts due from related parties: As of December 31, 2014 2015 RMB RMB Amount due from an affiliate and its subsidiaries, net (i) 209,601 36,508 Subscription receivables (note 2(m) & note 12) 257,491 268,829 (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 and October 2015. 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. The amounts are unsecured and bear interest at 7.3% and are repayable on demand. As of December 31, 2014 and 2015, the amount due from Sincere Fame and its subsidiaries represented RMB179,681 and nil principal receivable, respectively, and RMB28,420 and RMB36,508 interest receivable respectively. In addition, as of December 31, 2014 and 2015, RMB1,500 and nil account receivables represent the amount due from Sincere Fame and its subsidiaries which are unsecured, interest-free and repayable on demand. b) A subsidiary of the Company provided information technology service to an affiliate and charged RMB1,415, nil and nil for the years ended December 31, 2013, 2014, and 2015, respectively. The Group charged affiliates interest income of RMB6,843, RMB12,170 and RMB8,088 for loans receivable for the years ended December 31, 2013, 2014, and 2015, 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. |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
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, 2015 are: Minimum Lease Payment RMB Year ending December 31: 2016 31,152 2017 16,080 2018 7,516 2019 6,535 2020 4,121 Total 65,404 Rental expenses incurred under operating leases for the years ended December 31, 2013, 2014 and 2015 amounted to RMB30,509, RMB27,455 and RMB36,206, 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. |
Note 17 - Concentrations of Cre
Note 17 - Concentrations of Credit Risk | 12 Months Ended |
Dec. 31, 2015 | |
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, 2013 % of sales 2014 % of sales 2015 % of sales RMB RMB RMB PICC Property and Casualty Company Limited ("PICC") 346,405 20 % 442,608 21 % 676,939 24 % China Pacific Property Insurance Co., Ltd. ("CPIC") 204,983 12 % 255,655 12 % 315,961 11 % Ping An Property & Casualty Insurance Company of China, Ltd. ("Ping An"). 248,102 14 % 294,228 14 % 283,935 10 % 799,490 46 % 992,491 47 % 1,276,835 45 % Details of the customers which accounted for 10% or more of accounts receivable are as follows: As of December 31, 2014 % 2015 % RMB RMB PICC. 32,117 17 % 53,851 22 % CPIC 22,927 12 % 28,947 12 % Ping An. 28,903 16 % * * Huaxia Life Insurance Company Limited * * 26,456 11 % 83,947 45 % 109,254 45 % * represented less than 10% of account receivables as of the year end. 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 in view of 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 - Non-Cash Transactions
Note 18 - Non-Cash Transactions | 12 Months Ended |
Dec. 31, 2015 | |
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, 2013 2014 2015 RMB RMB RMB Considerations payable in connection with acquisition of additional interests in subsidiaries — 4,685 34,310 Considerations payable in connection with other investment 3,720 — — Subscription receivables from employee companies (Note 2(m) & Note 12) — 257,491 — |
Note 19 - Share-based Compensat
Note 19 - Share-based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
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 65.1% equity interest, have 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 the periods presented, 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 and nil for the years ended December 31, 2014 and 2015, respectively. 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 the periods presented, 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, nil and nil for the years ended December 31, 2013, 2014 and 2015, 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 RMB6, nil and nil for the years ended December 31, 2013, 2014 and 2015 respectively. As of December31, 2015, 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 years ended December 31, 2013, 2014 and 2015, share-based compensation expenses of RMB35,732, RMB22,200 and RMB12,940 were recognized in connection with the 2012 Options G, respectively. During the years ended December 31, 2015, 5,923,620 shares of 2012 Options G had been exercised. During the years ended December 31, 2013, 2014 and 2015, 786,670, 932,305 and 114,250 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 2012 Options 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, 2015, exclude Option H1, H4 and H5, and H2 and H6 which were vested on May 31, 2013, May 31, 2014 and May 31, 2015 respectively: Option H3 Stock price per underlying ordinary shares US$0.46 Weight average assumptions – expected dividend yield 0 % Risk-free interest rate 1.60 % Expected life 4.31 Expected volatility 64.83 % 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, 2013, 2014 and 2015, share-based compensation expenses of RMB1,288, RMB1,289 and RMB1,213 were recognized in connection with the 2012 Options H, respectively. During the year ended December 31, 2015, 62,140 of 2012 Options H had been exercised. During the years ended December 31, 2013, 2014 and 2015,143,664, 898,740 and 284,978 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 year 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 33.0 % 31.9 % 32.2 % 31.2 % During the years ended December 31, 2015, 394,420 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, 2013, 2014 and 2015, share-based compensation expenses of RMB238, nil 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, 2013, 2014 and 2015, 231,600, 110,900 and 30,100 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 year 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 28.2 % 28.9 % 28.0 % 27.6 % During the year ended December 31, 2015, 374,540 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, 2013, 2014 and 2015, share-based compensation expenses of RMB946, nil and nil, respectively, 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, 2013, 2014 and 2015 respectively, 269,800, 171,700 and nil shares of 2008 Options, respectively, were forfeited due to employee resignations. No share-based compensation expense related to the forfeited options was recognized. 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 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 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. The exercise price of the remaining unexercised 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 one independent director who is a resident 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. In October 2015, the chairman of InsCom approved an option modification to extend the expiration dates of 2012 InsCom options and 2013 InsCom options to December 31, 2020. Other terms of the options grants remain unchanged. The Company had taken a modification charge for the incremental compensation cost of RMB100 to the consolidated statement of income and comprehensive income for the year ended December 31, 2015, the period in which the modification occurred. For each of the three years ended December 31, 2013, 2014 and 2015, changes in the status of outstanding options, excluding the InsCom options, were as follows: Number of Weighted average exercise price in RMB Aggregate Intrinsic Value Outstanding as of January 1, 2013 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 ) 1.90 Outstanding as of December 31, 2014 82,247,600 1.93 10,177 Exercised (6,754,720 ) 1.92 Forfeited (429,328 ) 1.93 Outstanding as of December 31, 2015 75,063,552 1.93 70,931 Exercisable as of December 31, 2015 67,775,401 1.94 63,801 As of December 31, 2015, there were a total of 7,288,151 outstanding unvested options for the Group. As of December 31, 2015, there was RMB4,893 of total unrecognized compensation cost related to share options granted in 2012, which was expected to be recognized in the year of 2016. No 2012 InsCom Options was exercised, or cancelled during the years ended December 31, 2014 and 2015. There was negligible unrecognized cost as of December 31, 2015. As of December 31, 2015, 6,036,035 shares of 2012 InsCom Options were forfeited because of resignation of the option holders. As of December 31, 2015, 54,972,301 shares of the 2012 InsCom Options were outstanding and exercisable, with weighted average remaining contractual life of 5 years and exercise price of RMB0.025 per ordinary share. No 2013 InsCom Options was exercised or cancelled during the years ended December 31, 2014 and 2015, and there was no unrecognized cost expected to be recognized as of December 31, 2015. As of December 31, 2015, 4,119,879 shares were forfeited. As of December 31, 2015, 16,538,433 shares of the 2013 InsCom Options were outstanding and exercisable, with weighted average remaining contractual life of 5 years and exercise price of RMB0.025 per ordinary share. No 2014 InsCom Options was exercised or cancelled during the years ended December 31, 2014 and 2015, and there was no unrecognized cost expected to be recognized as of December 31, 2015. As of December 31, 2015, 2,073,794 shares were forfeited. As of December 31, 2015, 9,592,487 shares of the 2014 InsCom Options were outstanding and exercisable, with weighted average remaining contractual life of 3.8 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, 2013, 2014 and 2015, excluding the InsCom options, were: Year ended December 31, 2013 2014 2015 RMB RMB RMB Weighted-average grant-date fair value per share of options granted — — — Total intrinsic value of options exercised — 837 17,399 Total fair value of share options vested 34,362 44,912 38,178 The following table summarizes information about the Company’s stock option plans as of December 31, 2015, excluding the InsCom options, were: Options outstanding Weighted average remaining contractual life (Years) Weighted average exercise price in RMB Options Exercisable 2012 Options G 39,838,822 6.25 0.006 32,770,447 2012 Options H 1,023,310 6.25 0.006 803,534 2009 Options 6,575,480 2.00 2.30 6,575,480 2008 Options 27,625,940 2.00 1.90 27,625,940 Total 75,063,552 67,775,401 |
Note 20 - Restricted Net Assets
Note 20 - Restricted Net Assets | 12 Months Ended |
Dec. 31, 2015 | |
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, 2014 and 2015, the Company had restricted net assets of RMB2,055,417 and RMB2,164,132 (including RMB131,313 and RMB78,847 restricted share capital and statutory reserve 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, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | (21) Segment Reporting The Group operated three operating segments: (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, 2013, 2014 and 2015. Other includes revenue and expenses that are not allocated to reportable segments and corporate related items. Year ended December 31, 2013 2014 2015 2015 RMB RMB RMB US$ Net revenues Agency 1,418,512 1,624,410 2,155,264 332,716 Brokerage 63,418 232,620 369,198 56,994 Claims Adjusting 261,206 292,981 303,846 46,906 Other 13,888 — — — Total net revenues 1,757,024 2,150,011 2,828,308 436,616 Operating costs and expenses Agency (1,305,306 ) (1,486,871 ) (1,969,329 ) (304,012 ) Brokerage (53,719 ) (197,017 ) (319,124 ) (49,264 ) Claims Adjusting (234,129 ) (275,539 ) (292,613 ) (45,171 ) Other (145,884 ) (159,685 ) (168,720 ) (26,046 ) Total operating costs and expenses (1,739,038 ) (2,119,112 ) (2,749,786 ) (424,493 ) Income (loss) from operations Agency 113,206 137,539 185,935 28,704 Brokerage 9,699 35,603 50,074 7,730 Claims Adjusting 27,077 17,442 11,233 1,735 Other (131,996 ) (159,685 ) (168,720 ) (26,046 ) Total income from operations 17,986 30,899 78,522 12,123 As of December 31, 2014 2015 2015 RMB RMB US$ Segment assets Agency 1,682,305 454,803 70,209 Brokerage 118,139 160,286 24,744 Claims Adjusting 116,877 226,121 34,907 Other 1,831,165 3,173,218 489,861 Total assets 3,748,486 4,014,428 619,721 Substantially all of the Group’s revenues for the three years ended December 31, 2013, 2014 and 2015 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, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | (22) Subsequent event In January 2016, the individual shareholder of Dianliang Information, transferred 100% of the equity interest of Dianliang Information to Tibet Zhuli Investment Co., Ltd., a wholly-owned subsidiary if the Group. As a result, Dianliang Information become the wholly-owned subsidiaries and the Group have obtained direct equity ownership in all of the insurance intermediary businesses and an online mutual aid platform in the PRC. In January 2016, the NEEQ reportedly informed brokerage firms that the listings of all non-mainstream financial services companies will be temporarily suspended. It is unclear whether or not CISLA will be treated as a non-mainstream financial services company and how the decision may affect the listing of CISLA. But it may prolong the review process by the NEEQ and increase uncertainty as to when and whether the listing application will be approved. The proposed listing may not be successful and the Group may incur substantial costs in connection with the proposed listing. In March 2016, during the fourth session of the 12th National People’s Congress, it was announced that the VAT reform will be fully rolled out and extended to all industries including construction, real estate, financial services and lifestyle services. Subsequently, the State Administration of Taxation and Ministry of Finance jointly issued a Notice on Preparing for the Full Implementation of the VAT Reform (Cai Shui [2016] No. 32). Accordingly, the Group will pay value-added tax instead of business tax starting from May 1, 2016. The Group is in the process of evaluating the impact on the consolidated financial statements. |
Schedule 1 - Condensed Financia
Schedule 1 - Condensed Financial Statements of the Company | 12 Months Ended |
Dec. 31, 2015 | |
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, 2014 2015 2015 RMB RMB US$ ASSETS: Current assets: Cash and cash equivalents 9,707 5,349 826 Other receivables 296 213,806 33,006 Amounts due from subsidiaries 1,539,702 1,394,118 215,215 Total current assets 1,549,705 1,613,273 249,047 Non-current assets: Investment in subsidiaries 1,700,295 1,736,488 268,067 Total assets 3,250,000 3,349,761 517,114 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities: Other payables 2,723 4,602 710 Amounts due to subsidiaries 36,525 27,729 4,281 Total liabilities 39,248 32,331 4,991 Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 1,150,565,906 and 1,155,059,526 as of December 31, 2014 and 2015, respectively) 8,563 8,592 1,326 Additional paid-in capital 2,601,401 2,454,244 378,870 Retained earnings 963,385 1,173,471 181,153 Accumulated other comprehensive loss (105,106 ) (50,048 ) (7,726 ) Subscription receivables (257,491 ) (268,829 ) (41,500 ) Total shareholders’ equity 3,210,752 3,317,430 512,123 Total liabilities and shareholders' equity 3,250,000 3,349,761 517,114 Statements of Income and Comprehensive Income ( In thousands Year Ended December 31, 2013 2014 2015 2015 RMB RMB RMB US$ General and administrative expenses (50,633 ) (31,191 ) (19,839 ) (3,062 ) Interest income 6,847 12,464 15,913 2,456 Equity in earnings of subsidiaries 139,429 180,487 214,012 33,038 Net income 95,643 161,760 210,086 32,432 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments (6,982 ) 6,008 6,153 949 Share of other comprehensive income of affiliates, net of tax — — 37,567 5,799 Comprehensive income attributable to the Company's shareholders 88,661 167,768 253,806 39,180 Statements of Shareholders’ Equity ( In thousands, except for shares) Share Capital Treasury Stock Accumulated Number of Amounts Additional Number of Amounts Retained Other Subscription Receivables Total RMB RMB RMB RMB RMB RMB RMB RMB RMB Balance as of January 1, 2013 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 employees 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 Net income — — — — — 210,086 — — 210,086 Foreign currency translation — — — — — — 17,491 (11,338 ) 6,153 Repurchase of ordinary shares — — — (2,261,100 ) (6,276 ) — — — (6,276 ) Exercise of share options 4,493,620 29 (4,787 ) 2,261,100 6,276 — — — 1,518 Share-based compensation — — 17,653 — — — — — 17,653 Acquisition of additional interest in a subsidiary — — (160,023 ) — — — — — (160,023 ) Share of other comprehensive income in affiliates — — — — — — 37,567 — 37,567 Balance as of December 31, 2015 1,155,059,526 8,592 2,454,244 — — 1,173,471 (50,048 ) (268,829 ) 3,317,430 Balance as of December 31, 2015 in US$ 1,326 378,870 — 181,153 (7,726 ) (41,500 ) 512,123 Statements of Cash Flows ( In thousands Year Ended December 31, 2013 2014 2015 2015 RMB RMB RMB US$ OPERATING ACTIVITIES Net income 95,643 161,760 210,086 32,432 Adjustments to reconcile net income to net cash generated from (used in) operating activities: Equity in earnings of subsidiaries (139,016 ) (180,487 ) (214,012 ) (33,038 ) Compensation expenses associated with stock options 44,904 23,598 17,653 2,725 Changes in operating assets and liabilities: Other receivables 1,212 39,810 (213,510 ) (32,959 ) Other payables (582 ) (42,379 ) 1,879 291 Net cash generated from (used in) operating activities 2,161 2,302 (197,904 ) (30,549 ) Cash flows from investing activities (Increase) decrease in investment in subsidiaries (34,102 ) 29,853 55,363 8,546 Advances from (to) subsidiaries 37,337 (43,110 ) 136,788 21,116 Disposal of subsidiaries (1,532 ) — — — Net cash generated from (used in) investing activities 1,703 (13,257 ) 192,151 29,662 Cash flows from financing activities: Proceeds on exercise of stock options — 3,183 1,518 234 Repurchase ordinary shares — — (6,276 ) (969 ) Net cash generated from (used in) financing activities — 3,183 (4,758 ) (735 ) Net increase (decrease) in cash and cash equivalents 3,864 (7,772 ) (10,511 ) (1,622 ) Cash and cash equivalents at beginning of year 14,589 11,471 9,707 1,499 Effect of exchange rate changes on cash and cash equivalents (6,982 ) 6,008 6,153 949 Cash and cash equivalents at end of year 11,471 9,707 5,349 826 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, 2015, RMB2,164,132 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, 2014 and 2015. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
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 represents guarantee deposits required by China Insurance Regulatory Commission ("CIRC") in order to protect insurance premium appropriation by insurance agency as well as entrustment deposit received from the members of eHuzhu, an online mutual aid platform operated by the Group in an escrow account of RMB4,536 and RMB12,398 as of December 31, 2014 and 2015, 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, 2014 and 2015. |
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, 2014 2015 RMB RMB Accounts receivable 202,737 254,510 Allowance for doubtful accounts (16,587 ) (13,246 ) Accounts receivable, net 186,150 241,264 The following table summarizes the movement of the Group's allowance for doubtful accounts: 2013 2014 2015 RMB RMB RMB Balance at the beginning of the year 9,903 12,655 16,587 Provision for doubtful accounts 5,303 3,932 4,991 Write-offs (2,551 ) — (8,332 ) Balance at the ending of the year 12,655 16,587 13,246 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 life (Years) Estimated residual 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: 2013 2014 2015 RMB RMB RMB Commission and fees under operating costs 4,988 5,508 2,056 Selling expenses 1,636 1,282 1,180 General and administrative expenses 24,629 21,445 15,147 Depreciation for the year 31,253 28,235 18,383 |
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, 2015. 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 2013, 2014 and 2015, 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, 2013, 2014 and 2015. 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, 2014 Useful life Cost Accumulated amortization Accumulated Net carrying values 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 As of December 31, 2015 Useful life Cost Accumulated amortization Accumulated Net carrying values RMB RMB RMB RMB Brand name Indefinite 20,111 — (16,404 ) 3,707 Trade name 9.4 to 10 8,898 (4,808 ) — 4,090 Customer relationship 4.6 to 9.8 61,186 (51,264 ) (2,953 ) 6,969 Non-compete agreement 3 to 6.25 69,075 (33,819 ) (34,692 ) 564 Agency agreement and license 4.6 to 9.8 20,404 (15,949 ) (77 ) 4,378 Software and system 5 to 10 5,680 (5,680 ) — — 185,354 (111,520 ) (54,126 ) 19,708 Aggregate amortization expenses for intangible assets were RMB13,665, RMB16,826 and RMB11,571 for the years ended December 31, 2013, 2014 and 2015, 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, 2013, 2014 and 2015, 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, 2013, 2014 and 2015, the Group recognized no impairment losses on its indefinite-lived intangible assets. The estimated amortization expenses for the next five years are: RMB5,204 in 2016, RMB3,881 in 2017, RMB3,667 in 2018, RMB2,502 in 2019 and RMB658 in 2020, and an aggregate amount of RMB89 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. |
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 at US$0.27 per ordinary share and 50,000,000 ordinary shares at 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 and 2015. 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 RMB268,829 (US$41,500). |
Treasury Shares [Policy Text Block] | Treasury shares Treasury shares represents ordinary shares repurchased by the Group that are no longer outstanding and are held by the Group. The repurchase of ordinary shares is accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. During the year ended December 31, 2015, the Group had repurchased total of 2,261,100 shares from the market for a cash consideration of RMB6,276. As of December 31, 2015, all the treasury stock had been re-issued for the purpose of stock options exercised. |
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. Since 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 |
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. 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. b. 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 RMB45,317, RMB23,598 and RMB17,653 for the years ended December 31, 2013, 2014 and 2015, 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 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 deminims to date are recognized upon notification from the insurance carriers. Actual commission and fee adjustments in connection with the cancellation of policies were 0.2%, 0.2% and 0.2% of the total commission and fee revenues during years ended December 31, 2013, 2014 and 2015, 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 RMB99,931, RMB120,965 and RMB157,234 for the years ended December 31, 2013, 2014 and 2015, 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 years ended December 31, 2014 and 2015 amounted to RMB14,997 and RMB16,370. In March 2016, during the fourth session of the 12th National People’s Congress, it was announced that the VAT reform will be fully rolled out and extended to all industries including construction, real estate, financial services and lifestyle services. Subsequently, the State Administration of Taxation and Ministry of Finance jointly issued a Notice on Preparing for the Full Implementation of the VAT Reform (Cai Shui [2016] No. 32). Accordingly, the Group will pay value-added tax instead of business tax starting from May 1, 2016. The Group is in the process of evaluating the impact on the consolidated financial statements. |
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 when incurred. No change in fair value of contingent consideration payable was charged to consolidated statement of income and comprehensive income for the years ended December 31, 2013, 2014 and 2015. 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 in the amount of nil, nil and nil for the years ended December 31, 2013, 2014 and 2015, respectively. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments. Fair value is considered to be the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs may be used to measure fair value include: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The carrying values of the Group’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, insurance premium receivables and payables, other receivables, accounts payable, amounts due from related parties, approximate their fair values due to the short term nature of these instruments. Measured at fair value on a recurring basis As of December 31, 2015 and 2014, information about inputs into the fair value measurements of the Group’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows. Fair Value Measurements at Reporting Date Using Description As of Quoted Prices Significant Significant RMB RMB RMB RMB Short-term investments - debt security 2,026,256 — 2,026,256 — Fair Value Measurements at Reporting Date Using Description As of Quoted Prices Significant Significant RMB RMB RMB RMB Short-term investments - debt security 688,900 — 688,900 — The debt security consists of investments in trust products and asset management plans that have normally pay a prospective fixed rate of return. These investment are recorded at fair value on a recurring basis. The Group benchmarks the costs against fair values of comparable investments with similar measurement terms, such as prevailing market yields, at the balance sheet date. It is classified as Level 2 of the fair value hierarchy since fair value measurement at reporting date uses significant other observable inputs. Measured at fair value on a non-recurring basis 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. Goodwill (note 6) and intangible assets (note 2(g)) are measured at fair value on a nonrecurring basis and they are recorded at fair value only when impairment is recognized by applying unobservable inputs such as forecasted financial performance of the acquired business, discount rate, etc. to the discounted cash flow valuation methodology that are significant to the measurement of the fair value of these assets (Level 3). |
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. 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. |
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 RMB2,080,842 and RMB1,115,296 of cash and cash equivalents denominated in RMB as of December 31, 2014 and 2015, 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 = RMB6.4778, representing the noon buying rate in the City of New York for cable transfers of RMB on December 31, 2015, 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, 2015, 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. The Group operated three segments: (1) insurance agency segment, which mainly consists of providing agency services for Property and Casualty (“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 of the Group 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 RMB5,724, RMB6,553 and RMB5,696 for the years ended December 31, 2013, 2014 and 2015, 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 over the lease period. |
Stockholders' Equity, Policy [Policy Text Block] | Accumulated Other Comprehensive Income The Group presents comprehensive income in the consolidated statements of income and comprehensive income with net income in a continuous statement. Accumulated other comprehensive income represents foreign currency translation adjustments and share of other comprehensive income of the affiliates for the period. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)". The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry specific guidance, in current U.S. generally accepted accounting principles. 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. ASU 2014-09 is originally effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. ASU 2015-14, Revenue from Contracts with Customers, defers the effective date of ASU 2014-09 by one year. As a result, ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted to the original effective date. The Group is in the process of evaluating the impact of adoption of this guidance on the Group's consolidated financial statements. 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 adoption of this ASU is not expected to have a material impact on the Group’s consolidated financial results or disclosures. In September, 2015, the FASB issued a new pronouncement, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. To simplify the accounting for adjustments made to provisional amounts recognized in a business combination, the amendments eliminate the requirement to retrospectively account for those adjustments. Under this ASU, an acquirer must recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The ASU also requires acquirers to present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the ASU is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The ASU must be applied prospectively to adjustments to provisional amounts that occur after the effective date. Early adoption is permitted for financial statements that have not been issued. The Group does not expect the adoption of this guidance will have a significant effect on the Group's consolidated financial statements. In November, 2015, the FASB issued a new pronouncement which changes how deferred taxes are classified on organizations’ balance sheets. The ASU eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Group is in the process of evaluating the impact of adoption of this guidance on the Group's consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Group is in the process of evaluating the impact of adoption of this guidance on the Group's consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees' recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors' accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. The Group is in the process of evaluating the impact of adoption of this guidance on the Group's consolidated financial statements. In March 2016, the FASB issued ASU 2016-08, which amends the principal-versus-agent implementation guidance and illustrations in the Board's new revenue standard (ASC 606). The amendments in this update clarify the implementation guidance on principal versus agent considerations. When another party, along with the reporting entity, is involved in providing goods or services to a customer, an entity is required to determine whether the nature of its promise is to provide that good or service to the customer (as a principal) or to arrange for the good or service to be provided to the customer by the other party (as an agent). The guidance is effective for interim and annual periods beginning after December 15, 2017. The Group is in the process of evaluating the impact of adoption of this guidance on the consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. For public entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. The Group is in the process of evaluating the impact of adoption of this guidance on the consolidated financial statements. |
Note 2 - Summary of Significa33
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | As of December 31, 2014 2015 RMB RMB Accounts receivable 202,737 254,510 Allowance for doubtful accounts (16,587 ) (13,246 ) Accounts receivable, net 186,150 241,264 |
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | 2013 2014 2015 RMB RMB RMB Balance at the beginning of the year 9,903 12,655 16,587 Provision for doubtful accounts 5,303 3,932 4,991 Write-offs (2,551 ) — (8,332 ) Balance at the ending of the year 12,655 16,587 13,246 |
Property, Plant and Equipment, Estimated Useful Lives [Table Text Block] | Estimated useful life (Years) Estimated residual 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] | 2013 2014 2015 RMB RMB RMB Commission and fees under operating costs 4,988 5,508 2,056 Selling expenses 1,636 1,282 1,180 General and administrative expenses 24,629 21,445 15,147 Depreciation for the year 31,253 28,235 18,383 |
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block] | As of December 31, 2014 Useful life Cost Accumulated amortization Accumulated Net carrying values 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 As of December 31, 2015 Useful life Cost Accumulated amortization Accumulated Net carrying values RMB RMB RMB RMB Brand name Indefinite 20,111 — (16,404 ) 3,707 Trade name 9.4 to 10 8,898 (4,808 ) — 4,090 Customer relationship 4.6 to 9.8 61,186 (51,264 ) (2,953 ) 6,969 Non-compete agreement 3 to 6.25 69,075 (33,819 ) (34,692 ) 564 Agency agreement and license 4.6 to 9.8 20,404 (15,949 ) (77 ) 4,378 Software and system 5 to 10 5,680 (5,680 ) — — 185,354 (111,520 ) (54,126 ) 19,708 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using Description As of Quoted Prices Significant Significant RMB RMB RMB RMB Short-term investments - debt security 2,026,256 — 2,026,256 — Fair Value Measurements at Reporting Date Using Description As of Quoted Prices Significant Significant RMB RMB RMB RMB Short-term investments - debt security 688,900 — 688,900 — |
Note 3 - Acquisitions and Reo34
Note 3 - Acquisitions and Reorganisation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block] | Year ended December RMB Net income attributable to the Company's shareholders 210,086 Decrease in Company's additional paid-in capital for acquisitions of additional equity interests from noncontrolling interests (160,023 ) Changes from net income attributable to Company’s shareholders and transfers to noncontrolling interests 50,063 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Nanjing Wenzhou Jiaxing RMB RMB RMB Net tangible (liabilities) assets 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] | Fair Value Acquired Useful life RMB (Years) Nanjing Wenzhou Jiaxing Customer relationship 6.7 4,840 2,920 4,630 Non-compete agreement 3.0 520 270 480 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 0.10 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 (Tab
Note 4 - Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Schedule of Other Receivables [Table Text Block] | As of December 31, 2014 2015 RMB RMB Advances to staff (i) 8,159 6,492 Advances to entrepreneurial agents (ii) 981 367 Rental deposits 5,701 7,655 Interest income receivables (iii) 46,472 29,708 Value-added tax recoverable (iv) 2,786 — Receivable from third parties (v) 17,020 — Other 7,030 7,606 88,149 51,828 |
Note 5 - Property, Plant and 36
Note 5 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | As of December 31, 2014 2015 RMB RMB Building 12,317 12,317 Office equipment, furniture and fixtures 127,498 128,401 Motor vehicles 35,229 26,341 Leasehold improvements 10,817 9,657 Total 185,861 176,716 Less: Accumulated depreciation (138,690 ) (142,571 ) Property, plant and equipment, net 47,171 34,145 |
Note 6 - Goodwill (Tables)
Note 6 - Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Goodwill [Table Text Block] | Agency RMB Balance as of January 1, 2014 78,553 Addition for acquisitions in 2014 54,921 Balance as of December 31, 2014 133,474 Balance as of December 31, 2015 133,474 |
Schedule of Goodwill Gross and Accumulated Impairment Loss [Table Text Block] | Agency Claims Total RMB RMB RMB Gross as of January 1, 2014 and December 31, 2014 1,096,102 38,077 1,134,179 Eliminated on disposal of a subsidiary — (16,940 ) (16,940 ) Gross as of December 31, 2015 1,096,102 21,137 1,117,239 Accumulated impairment loss as of January 1, 2014 and December 31, 2014 (962,628 ) (38,077 ) (1,000,705 ) Eliminated on disposal of a subsidiary — 16,940 16,940 Accumulated impairment loss as of December 31, 2015 (962,628 ) (21,137 ) (983,765 ) Net as of January 1, 2014, December 31, 2014 and 2015 133,474 — 133,474 |
Note 7 - Investment in Affili38
Note 7 - Investment in Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 7 - Investment in Affiliates (Tables) [Line Items] | |
Equity Method Investments [Table Text Block] | As of December 31, 2014 2015 RMB RMB Teamhead Automobile 498 528 Sincere Fame 219,205 283,666 Total 219,703 284,194 |
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, 2014 2015 RMB RMB Balance sheet Current assets 364,045 1,348,637 Non-current assets 1,335,315 2,190,168 Current liabilities 929,731 2,389,167 Non-current liabilities 2,904 69,615 |
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, 2013 2014 2015 Results of operation RMB RMB RMB Net Revenues 365,521 403,908 599,372 Gross profit 295,954 346,688 427,258 Income from operations 139,211 184,531 158,846 Net profit 116,674 148,891 130,647 |
Note 8 - Variable Interest En39
Note 8 - Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Balance Sheet [Member] | |
Note 8 - Variable Interest Entities (Tables) [Line Items] | |
Schedule of Variable Interest Entities [Table Text Block] | As of December 31, 2014 2015 RMB RMB Total assets 63,090 103,740 Total liabilities 38,716 104,795 |
Income Statement [Member] | |
Note 8 - Variable Interest Entities (Tables) [Line Items] | |
Schedule of Variable Interest Entities [Table Text Block] | Year Ended December 31, 2013 2014 2015 RMB RMB RMB Net Revenues 125,961 72,645 108,133 Net loss (3,767 ) (9,636 ) (14,554 ) Net cash used in operating activities (13,500 ) (49,782 ) 37,943 Net cash generated from (used in) investing activities 12,041 14,709 (31,682 ) Net cash generated from financing activities — 33,370 — |
Note 9 - Other Payables and A40
Note 9 - Other Payables and Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | As of December 31, 2014 2015 RMB RMB Business and other tax payable 24,987 35,358 Refundable deposits from employees and agents 9,705 13,239 Professional fees 17,340 18,553 Accrued expenses to third parties (note i) 23,677 42,622 Payables for addition of office equipment, furniture and fixtures 8,618 8,618 Advance from third parties 8,542 35,808 Insurance compensation claim payable to customers 1,563 823 Payable for equity acquisition of investment in affiliates/subsidiaries 4,685 38,495 Contributions from members of eHuzhu mutual aid program 2,341 8,995 Others 7,954 11,051 Total 109,412 213,562 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | RMB Balance as of January 1, 2013 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 Effect per FASB ASU No. 2013-11—Income Taxes (Topic 740) 825 Gross increase in prior-period tax positions 15,674 Balance as of December 31, 2015 70,354 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2013 2014 2015 RMB RMB RMB Current tax expense 29,436 25,607 26,932 Deferred tax income (2,278 ) (1,318 ) (1,067 ) Income tax expense 27,158 24,289 25,865 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, 2014 2015 RMB RMB Current deferred tax assets: Operating loss carryforward 4,313 1,079 Less: valuation allowances (4,313 ) (1,079 ) Current deferred tax asset, net — — Non-current deferred tax assets: Operating loss carryforward, after offset effect of ASU 2013-11 33,930 27,245 Less: valuation allowances (31,292 ) (25,587 ) Non-current deferred tax asset, net 2,638 1,658 Total 2,638 1,658 Deferred tax liabilities: Intangible assets, net 6,769 3,895 Investment income 18,162 18,162 Total 24,931 22,057 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2013 2014 2015 RMB RMB RMB Income before income taxes and income of affiliates 106,521 159,720 214,422 PRC statutory tax rate 25 % 25 % 25 % Income tax at statutory tax rate 26,630 39,930 53,605 Expenses not deductible for tax purposes: Entertainment 494 579 685 Other 12,974 6,482 5,176 Tax exemption and tax relief: Tax rate differential (27,686 ) (34,315 ) (44,381 ) Change in valuation allowance 13,812 2,934 (4,194 ) Uncertain tax provisions 3,148 7,928 15,674 Other (2,214 ) 751 (700 ) Income tax expense 27,158 24,289 25,865 |
Note 13 - Net Income Per Share
Note 13 - Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2013 2014 2015 RMB RMB RMB Basic: Net income 99,984 166,080 215,481 Less: Net income attributable to the noncontrolling interests 4,341 4,320 5,395 Net income attributable to the Company’s shareholders 95,643 161,760 210,086 Weighted average number of ordinary shares outstanding 998,861,526 1,005,842,212 1,151,705,374 Basic net income per ordinary share 0.10 0.16 0.18 Basic net income per ADS 1.92 3.22 3.65 Diluted: Net income 99,984 166,080 215,481 Less: Net income attributable to the noncontrolling interests 4,341 4,320 5,395 Net income attributable to the Company’s shareholders 95,643 161,760 210,086 Weighted average number of ordinary shares outstanding 998,861,526 1,005,842,212 1,151,705,374 Weighted average number of dilutive potential ordinary shares from share options 1,708,492 6,749,175 51,618,147 Total 1,000,570,018 1,012,591,387 1,203,323,521 Diluted net income per ordinary share 0.10 0.16 0.17 Diluted net income per ADS 1.91 3.19 3.49 |
Note 15 - Related Party Balan43
Note 15 - Related Party Balances and Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | As of December 31, 2014 2015 RMB RMB Amount due from an affiliate and its subsidiaries, net (i) 209,601 36,508 Subscription receivables (note 2(m) & note 12) 257,491 268,829 |
Note 16 - Commitments and Con44
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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: 2016 31,152 2017 16,080 2018 7,516 2019 6,535 2020 4,121 Total 65,404 |
Note 17 - Concentrations of C45
Note 17 - Concentrations of Credit Risk (Tables) - Customer Concentration Risk [Member] | 12 Months Ended |
Dec. 31, 2015 | |
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, 2013 % of sales 2014 % of sales 2015 % of sales RMB RMB RMB PICC Property and Casualty Company Limited ("PICC") 346,405 20 % 442,608 21 % 676,939 24 % China Pacific Property Insurance Co., Ltd. ("CPIC") 204,983 12 % 255,655 12 % 315,961 11 % Ping An Property & Casualty Insurance Company of China, Ltd. ("Ping An"). 248,102 14 % 294,228 14 % 283,935 10 % 799,490 46 % 992,491 47 % 1,276,835 45 % |
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, 2014 % 2015 % RMB RMB PICC. 32,117 17 % 53,851 22 % CPIC 22,927 12 % 28,947 12 % Ping An. 28,903 16 % * * Huaxia Life Insurance Company Limited * * 26,456 11 % 83,947 45 % 109,254 45 % |
Note 18 - Non-Cash Transactio46
Note 18 - Non-Cash Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Other Significant Noncash Transactions [Table Text Block] | Year ended December 31, 2013 2014 2015 RMB RMB RMB Considerations payable in connection with acquisition of additional interests in subsidiaries — 4,685 34,310 Considerations payable in connection with other investment 3,720 — — Subscription receivables from employee companies (Note 2(m) & Note 12) — 257,491 — |
Note 19 - Share-based Compens47
Note 19 - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 19 - Share-based Compensation (Tables) [Line Items] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Weighted average exercise price in RMB Aggregate Intrinsic Value Outstanding as of January 1, 2013 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 ) 1.90 Outstanding as of December 31, 2014 82,247,600 1.93 10,177 Exercised (6,754,720 ) 1.92 Forfeited (429,328 ) 1.93 Outstanding as of December 31, 2015 75,063,552 1.93 70,931 Exercisable as of December 31, 2015 67,775,401 1.94 63,801 |
Schedule of Share-based Compensation Options, Grants in Period Grant Date Fair Value and Intrinsic Value [Table Text Block] | Year ended December 31, 2013 2014 2015 RMB RMB RMB Weighted-average grant-date fair value per share of options granted — — — Total intrinsic value of options exercised — 837 17,399 Total fair value of share options vested 34,362 44,912 38,178 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Options outstanding Weighted average remaining contractual life (Years) Weighted average exercise price in RMB Options Exercisable 2012 Options G 39,838,822 6.25 0.006 32,770,447 2012 Options H 1,023,310 6.25 0.006 803,534 2009 Options 6,575,480 2.00 2.30 6,575,480 2008 Options 27,625,940 2.00 1.90 27,625,940 Total 75,063,552 67,775,401 |
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 H3 Stock price per underlying ordinary shares US$0.46 Weight average assumptions – expected dividend yield 0 % Risk-free interest rate 1.60 % Expected life 4.31 Expected volatility 64.83 % |
Options 2009 Plan [Member] | |
Note 19 - Share-based Compensation (Tables) [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option D1 Option D2 Option D3 Option D4 Weight average assumptions – expected dividend yield 0 % 0 % 0 % 0 % Risk-free interest rate 3.35 % 3.51 % 3.55 % 3.61 % Expected life (years) 3.56 4.06 4.56 5.06 Expected volatility 33.0 % 31.9 % 32.2 % 31.2 % |
Options 2008 Plan [Member] | |
Note 19 - Share-based Compensation (Tables) [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Option C1 Option C2 Option C3 Option C4 Weight average assumptions – expected dividend yield 0 % 0 % 0 % 0 % Risk-free interest rate 3.70 % 3.71 % 3.93 % 4.07 % Expected life (years) 3.86 4.36 4.86 5.36 Expected volatility 28.2 % 28.9 % 28.0 % 27.6 % |
Note 21 - Segment Reporting (Ta
Note 21 - Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended December 31, 2013 2014 2015 2015 RMB RMB RMB US$ Net revenues Agency 1,418,512 1,624,410 2,155,264 332,716 Brokerage 63,418 232,620 369,198 56,994 Claims Adjusting 261,206 292,981 303,846 46,906 Other 13,888 — — — Total net revenues 1,757,024 2,150,011 2,828,308 436,616 Operating costs and expenses Agency (1,305,306 ) (1,486,871 ) (1,969,329 ) (304,012 ) Brokerage (53,719 ) (197,017 ) (319,124 ) (49,264 ) Claims Adjusting (234,129 ) (275,539 ) (292,613 ) (45,171 ) Other (145,884 ) (159,685 ) (168,720 ) (26,046 ) Total operating costs and expenses (1,739,038 ) (2,119,112 ) (2,749,786 ) (424,493 ) Income (loss) from operations Agency 113,206 137,539 185,935 28,704 Brokerage 9,699 35,603 50,074 7,730 Claims Adjusting 27,077 17,442 11,233 1,735 Other (131,996 ) (159,685 ) (168,720 ) (26,046 ) Total income from operations 17,986 30,899 78,522 12,123 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | As of December 31, 2014 2015 2015 RMB RMB US$ Segment assets Agency 1,682,305 454,803 70,209 Brokerage 118,139 160,286 24,744 Claims Adjusting 116,877 226,121 34,907 Other 1,831,165 3,173,218 489,861 Total assets 3,748,486 4,014,428 619,721 |
Schedule 1 - Condensed Financ49
Schedule 1 - Condensed Financial Statements of the Company (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | As of December 31, 2014 2015 2015 RMB RMB US$ ASSETS: Current assets: Cash and cash equivalents 9,707 5,349 826 Other receivables 296 213,806 33,006 Amounts due from subsidiaries 1,539,702 1,394,118 215,215 Total current assets 1,549,705 1,613,273 249,047 Non-current assets: Investment in subsidiaries 1,700,295 1,736,488 268,067 Total assets 3,250,000 3,349,761 517,114 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities: Other payables 2,723 4,602 710 Amounts due to subsidiaries 36,525 27,729 4,281 Total liabilities 39,248 32,331 4,991 Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 1,150,565,906 and 1,155,059,526 as of December 31, 2014 and 2015, respectively) 8,563 8,592 1,326 Additional paid-in capital 2,601,401 2,454,244 378,870 Retained earnings 963,385 1,173,471 181,153 Accumulated other comprehensive loss (105,106 ) (50,048 ) (7,726 ) Subscription receivables (257,491 ) (268,829 ) (41,500 ) Total shareholders’ equity 3,210,752 3,317,430 512,123 Total liabilities and shareholders' equity 3,250,000 3,349,761 517,114 |
Condensed Income Statement [Table Text Block] | Year Ended December 31, 2013 2014 2015 2015 RMB RMB RMB US$ General and administrative expenses (50,633 ) (31,191 ) (19,839 ) (3,062 ) Interest income 6,847 12,464 15,913 2,456 Equity in earnings of subsidiaries 139,429 180,487 214,012 33,038 Net income 95,643 161,760 210,086 32,432 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments (6,982 ) 6,008 6,153 949 Share of other comprehensive income of affiliates, net of tax — — 37,567 5,799 Comprehensive income attributable to the Company's shareholders 88,661 167,768 253,806 39,180 |
Schedule of Stockholders Equity [Table Text Block] | Share Capital Treasury Stock Accumulated Number of Amounts Additional Number of Amounts Retained Other Subscription Receivables Total RMB RMB RMB RMB RMB RMB RMB RMB RMB Balance as of January 1, 2013 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 employees 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 Net income — — — — — 210,086 — — 210,086 Foreign currency translation — — — — — — 17,491 (11,338 ) 6,153 Repurchase of ordinary shares — — — (2,261,100 ) (6,276 ) — — — (6,276 ) Exercise of share options 4,493,620 29 (4,787 ) 2,261,100 6,276 — — — 1,518 Share-based compensation — — 17,653 — — — — — 17,653 Acquisition of additional interest in a subsidiary — — (160,023 ) — — — — — (160,023 ) Share of other comprehensive income in affiliates — — — — — — 37,567 — 37,567 Balance as of December 31, 2015 1,155,059,526 8,592 2,454,244 — — 1,173,471 (50,048 ) (268,829 ) 3,317,430 Balance as of December 31, 2015 in US$ 1,326 378,870 — 181,153 (7,726 ) (41,500 ) 512,123 |
Condensed Cash Flow Statement [Table Text Block] | Year Ended December 31, 2013 2014 2015 2015 RMB RMB RMB US$ OPERATING ACTIVITIES Net income 95,643 161,760 210,086 32,432 Adjustments to reconcile net income to net cash generated from (used in) operating activities: Equity in earnings of subsidiaries (139,016 ) (180,487 ) (214,012 ) (33,038 ) Compensation expenses associated with stock options 44,904 23,598 17,653 2,725 Changes in operating assets and liabilities: Other receivables 1,212 39,810 (213,510 ) (32,959 ) Other payables (582 ) (42,379 ) 1,879 291 Net cash generated from (used in) operating activities 2,161 2,302 (197,904 ) (30,549 ) Cash flows from investing activities (Increase) decrease in investment in subsidiaries (34,102 ) 29,853 55,363 8,546 Advances from (to) subsidiaries 37,337 (43,110 ) 136,788 21,116 Disposal of subsidiaries (1,532 ) — — — Net cash generated from (used in) investing activities 1,703 (13,257 ) 192,151 29,662 Cash flows from financing activities: Proceeds on exercise of stock options — 3,183 1,518 234 Repurchase ordinary shares — — (6,276 ) (969 ) Net cash generated from (used in) financing activities — 3,183 (4,758 ) (735 ) Net increase (decrease) in cash and cash equivalents 3,864 (7,772 ) (10,511 ) (1,622 ) Cash and cash equivalents at beginning of year 14,589 11,471 9,707 1,499 Effect of exchange rate changes on cash and cash equivalents (6,982 ) 6,008 6,153 949 Cash and cash equivalents at end of year 11,471 9,707 5,349 826 |
Note 2 - Summary of Significa50
Note 2 - Summary of Significant Accounting Policies (Details) | Dec. 17, 2014$ / sharesshares | Dec. 31, 2014CNY (¥)shares | Dec. 31, 2015CNY (¥)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014CNY (¥)shares | Dec. 31, 2013CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014$ / shares |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Guarantee Deposits | ¥ 4,536,000 | ¥ 12,398,000 | ¥ 4,536,000 | |||||
Other than Temporary Impairment Losses, Investments | ¥ 0 | ¥ 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 | ¥ 0 | ||||
Amortization of Intangible Assets | 11,571,000 | $ 1,786,000 | 16,826,000 | 13,665,000 | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | 0 | 0 | |||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 5,204,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 3,881,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 3,667,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 2,502,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 658,000 | |||||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 89,000 | |||||||
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable | 257,491,000 | ¥ 268,829,000 | 257,491,000 | $ 41,500,000 | ||||
Treasury Stock, Shares, Acquired (in Shares) | shares | 2,261,100 | 2,261,100 | ||||||
Payments for Repurchase of Common Stock | ¥ 6,276,000 | $ 969,000 | ||||||
Allocated Share-based Compensation Expense | ¥ 17,653,000 | ¥ 23,598,000 | ¥ 45,317,000 | |||||
Policy Cancellation Actual Commission and Fee Adjustments as Percentage of Total Commission and Fee Revenues | 0.20% | 0.20% | 0.20% | 0.20% | ||||
Excise and Sales Taxes | ¥ 157,234,000 | ¥ 120,965,000 | ¥ 99,931,000 | |||||
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 | |||||
Cash and Cash Equivalents Denominated in Reporting Currency | ¥ 2,080,842,000 | ¥ 1,115,296,000 | 2,080,842,000 | |||||
Number of Operating Segments | 3 | 3 | ||||||
Advertising Expense | ¥ 5,696,000 | 6,553,000 | ¥ 5,724,000 | |||||
China, Yuan Renminbi | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Foreign Currency Exchange Rate, Translation | 6.4778 | 6.4778 | ||||||
Value-added Taxes [Member] | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Excise and Sales Taxes | ¥ 16,370,000 | ¥ 14,997,000 | ||||||
Employee Companies [Member] | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | shares | 150,000,000 | |||||||
Stockholders' Equity Note, Subscriptions Receivable, Interest Rate | 3.00% | 3.00% | ||||||
Employee Companies [Member] | Share Purchase Agreements, Share Price 1 [Member] | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | shares | 100,000,000 | 100,000,000 | ||||||
Shares Issued, Price Per Share (in Dollars per share) | $ / shares | $ 0.27 | |||||||
Employee Companies [Member] | Share Purchase Agreements, Share Price 2 [Member] | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | shares | 50,000,000 | 50,000,000 | ||||||
Shares Issued, Price Per Share (in Dollars per share) | $ / shares | $ 0.29 | $ 0.29 | ||||||
Maximum [Member] | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Cost Method Investments Ownership Percentage | 20.00% | 20.00% | ||||||
Maximum [Member] | Employee Companies [Member] | ||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||||||
Stockholders' Equity Note, Subscriptions Receivable, Term | 2 years | 2 years |
Note 2 - Summary of Significa51
Note 2 - Summary of Significant Accounting Policies (Details) - Accounts Receivable, Net ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) |
Accounts Receivable, Net [Abstract] | |||
Accounts receivable | ¥ 254,510 | ¥ 202,737 | |
Allowance for doubtful accounts | (13,246) | $ (2,045) | (16,587) |
Accounts receivable, net | ¥ 241,264 | $ 37,245 | ¥ 186,150 |
Note 2 - Summary of Significa52
Note 2 - Summary of Significant Accounting Policies (Details) - Movement of the Group’s Allowance for Doubtful Accounts - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Movement of the Group’s Allowance for Doubtful Accounts [Abstract] | |||
Balance at the beginning of the year | ¥ 16,587 | ¥ 12,655 | ¥ 9,903 |
Provision for doubtful accounts | 4,991 | 3,932 | 5,303 |
Write-offs | (8,332) | 0 | (2,551) |
Balance at the ending of the year | ¥ 13,246 | ¥ 16,587 | ¥ 12,655 |
Note 2 - Summary of Significa53
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives | 12 Months Ended |
Dec. 31, 2015 | |
Building [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated residual value | 0.00% |
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% |
Minimum [Member] | Building [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 20 years |
Minimum [Member] | Furniture and Fixtures [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% |
Minimum [Member] | Automobiles [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% |
Maximum [Member] | Building [Member] | |
Note 2 - Summary of Significant Accounting Policies (Details) - Estimated Useful Lives [Line Items] | |
Estimated useful life (Years) | 36 years |
Maximum [Member] | Furniture and Fixtures [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% |
Maximum [Member] | Automobiles [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% |
Note 2 - Summary of Significa54
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation [Line Items] | ||||
Depreciation | ¥ 18,383 | $ 2,838 | ¥ 28,235 | ¥ 31,253 |
Operating Expense [Member] | ||||
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation [Line Items] | ||||
Depreciation | 2,056 | 5,508 | 4,988 | |
Selling and Marketing Expense [Member] | ||||
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation [Line Items] | ||||
Depreciation | 1,180 | 1,282 | 1,636 | |
General and Administrative Expense [Member] | ||||
Note 2 - Summary of Significant Accounting Policies (Details) - Depreciation [Line Items] | ||||
Depreciation | ¥ 15,147 | ¥ 21,445 | ¥ 24,629 |
Note 2 - Summary of Significa55
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2015USD ($) | |
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | ¥ 185,354 | ¥ 196,963 | |
Accumulated amortization | (111,520) | (103,948) | |
Impairment Loss | (54,126) | (61,417) | |
Net Carring Values | 19,708 | 31,598 | $ 3,042 |
Brand Names [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | 20,111 | 24,091 | |
Impairment Loss | (16,404) | (20,384) | |
Net Carring Values | 3,707 | 3,707 | |
Trade Names [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | 8,898 | 8,898 | |
Accumulated amortization | (4,808) | (3,867) | |
Net Carring Values | 4,090 | 5,031 | |
Customer Relationships [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | 61,186 | 67,096 | |
Accumulated amortization | (51,264) | (48,012) | |
Impairment Loss | (2,953) | (5,760) | |
Net Carring Values | 6,969 | 13,324 | |
Noncompete Agreements [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | 69,075 | 69,485 | |
Accumulated amortization | (33,819) | (32,557) | |
Impairment Loss | (34,692) | (34,692) | |
Net Carring Values | 564 | 2,236 | |
Agency Agreement and License [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | 20,404 | 21,394 | |
Accumulated amortization | (15,949) | (14,789) | |
Impairment Loss | (77) | (581) | |
Net Carring Values | 4,378 | 6,024 | |
Computer Software, Intangible Asset [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Cost | 5,680 | 5,999 | |
Accumulated amortization | ¥ (5,680) | (4,723) | |
Net Carring Values | ¥ 1,276 | ||
Minimum [Member] | Trade Names [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 9 years 146 days | 9 years 146 days | |
Minimum [Member] | Customer Relationships [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 4 years 219 days | 4 years 219 days | |
Minimum [Member] | Noncompete Agreements [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 3 years | 3 years | |
Minimum [Member] | Agency Agreement and License [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 4 years 219 days | 4 years 219 days | |
Minimum [Member] | Computer Software, Intangible Asset [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 5 years | 5 years | |
Maximum [Member] | Trade Names [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 10 years | 10 years | |
Maximum [Member] | Customer Relationships [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 9 years 292 days | 9 years 292 days | |
Maximum [Member] | Noncompete Agreements [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 6 years 3 months | 6 years 3 months | |
Maximum [Member] | Agency Agreement and License [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 9 years 292 days | 9 years 292 days | |
Maximum [Member] | Computer Software, Intangible Asset [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Intangible Assets, Net [Line Items] | |||
Useful life (Years) | 10 years | 10 years |
Note 2 - Summary of Significa56
Note 2 - Summary of Significant Accounting Policies (Details) - Fair Value Measurement on a Recurring Basis ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) |
Note 2 - Summary of Significant Accounting Policies (Details) - Fair Value Measurement on a Recurring Basis [Line Items] | |||
Short-term investments - debt security | ¥ 2,026,256 | $ 312,800 | ¥ 688,900 |
Debt Securities [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Fair Value Measurement on a Recurring Basis [Line Items] | |||
Short-term investments - debt security | 2,026,256 | 688,900 | |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) - Fair Value Measurement on a Recurring Basis [Line Items] | |||
Short-term investments - debt security | ¥ 2,026,256 | ¥ 688,900 |
Note 3 - Acquisitions and Reo57
Note 3 - Acquisitions and Reorganisation (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2015CNY (¥) | Jul. 31, 2015CNY (¥) | Jun. 30, 2015 | Apr. 30, 2014CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015USD ($) | May. 01, 2014CNY (¥) |
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Adjustments to Additional Paid in Capital, Acquisition of Additional Interests in Subsidiaries | ¥ 187,810 | |||||||||
Allocated Share-based Compensation Expense | 17,653 | ¥ 23,598 | ¥ 45,317 | |||||||
Goodwill | ¥ 133,474 | ¥ 133,474 | ¥ 133,474 | $ 20,605 | ||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 6 years 109 days | |||||||||
Yuanqian, Longqian and 22 Individual [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Allocated Share-based Compensation Expense | ¥ 3,400 | |||||||||
CISLA [Member] | Fangzhong [Member] | Meidiya Investments [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Sale of Stock, Consideration Received on Transaction | ¥ 61,200 | |||||||||
CISLA [Member] | Fangzhong [Member] | The 22 Individuals [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Sale of Stock, Consideration Received on Transaction | ¥ 58,800 | |||||||||
Fangzhong [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Equity Method Investment, Ownership Percentage | 44.70% | 51.00% | 51.00% | |||||||
CISLA [Member] | Fangzhong [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 87.60% | 100.00% | ||||||||
Chetong Network [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Sale of Stock, Percentage of Ownership before Transaction | 100.00% | |||||||||
Chetong Network [Member] | The Management and Employees of Chetong Network [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Business Combination, Consideration Transferred | ¥ 16,020 | |||||||||
Sale of Stock, Percentage of Ownership Transferred | 80.10% | |||||||||
Chetong Network [Member] | CISLA [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Business Combination, Consideration Transferred | ¥ 3,980 | |||||||||
Sale of Stock, Percentage of Ownership after Transaction | 19.90% | |||||||||
CISLA [Member] | Fangzhong [Member] | Meidiya Investments [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Sale of Stock, Percentage of Ownership before Transaction | 44.70% | |||||||||
CISLA [Member] | Fangzhong [Member] | The 22 Individuals [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Sale of Stock, Percentage of Ownership before Transaction | 42.90% | |||||||||
CISLA [Member] | Yuanqian and Longqian [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 12.40% | 12.40% | ||||||||
Business Combination, Consideration Transferred | ¥ 17,000 | |||||||||
Wenzhou [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||||||
Payments to Acquire Businesses, Gross | ¥ 16,000 | |||||||||
Business Combination, Contingent Consideration, Liability | ¥ 0 | |||||||||
Goodwill | 10,209 | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ¥ 11,902 | |||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 1,151 | |||||||||
Nanjing [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Payments to Acquire Businesses, Gross | 27,000 | |||||||||
Business Combination, Contingent Consideration, Liability | 0 | |||||||||
Goodwill | ¥ 23,850 | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 19,060 | |||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 2,323 | |||||||||
Jiaxing [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 70.00% | |||||||||
Payments to Acquire Businesses, Gross | ¥ 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 | |||||||||
Goodwill | ¥ 20,862 | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 22,136 | |||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ¥ 619 | |||||||||
P and C Segment [Member] | ||||||||||
Note 3 - Acquisitions and Reorganisation (Details) [Line Items] | ||||||||||
Goodwill | ¥ 54,921 |
Note 3 - Acquisitions and Reo58
Note 3 - Acquisitions and Reorganisation (Details) - Changes in Group's Equity as a Result of Acquisition ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
RMB | ||||
Net income attributable to the Company's shareholders | ¥ 210,086 | $ 32,432 | ¥ 161,760 | ¥ 95,643 |
Decrease in Company's additional paid-in capital for acquisitions of additional equity interests from noncontrolling interests | (160,023) | |||
Changes from net income attributable to Company’s shareholders and transfers to noncontrolling interests | ¥ 50,063 |
Note 3 - Acquisitions and Reo59
Note 3 - Acquisitions and Reorganisation (Details) - Purchase Price Allocation ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Apr. 30, 2014CNY (¥) |
Note 3 - Acquisitions and Reorganisation (Details) - Purchase Price Allocation [Line Items] | ||||
Goodwill | ¥ 133,474 | $ 20,605 | ¥ 133,474 | |
Nanjing [Member] | ||||
Note 3 - Acquisitions and Reorganisation (Details) - Purchase Price Allocation [Line Items] | ||||
Net tangible (liabilities) assets acquired | ¥ (4,116) | |||
Intangible assets | 7,650 | |||
Goodwill | 23,850 | |||
Deferred tax assets | 1,529 | |||
Deferred tax liabilities | (1,913) | |||
Total consideration | 27,000 | |||
Wenzhou [Member] | ||||
Note 3 - Acquisitions and Reorganisation (Details) - Purchase Price Allocation [Line Items] | ||||
Net tangible (liabilities) assets acquired | 2,708 | |||
Intangible assets | 4,110 | |||
Goodwill | 10,209 | |||
Deferred tax liabilities | (1,027) | |||
Total consideration | 16,000 | |||
Jiaxing [Member] | ||||
Note 3 - Acquisitions and Reorganisation (Details) - Purchase Price Allocation [Line Items] | ||||
Net tangible (liabilities) assets acquired | 3,670 | |||
Intangible assets | 7,290 | |||
Goodwill | 20,862 | |||
Deferred tax liabilities | (1,822) | |||
Total consideration | ¥ 30,000 |
Note 3 - Acquisitions and Reo60
Note 3 - Acquisitions and Reorganisation (Details) - Acquired Intangible Assets - CNY (¥) ¥ in Thousands | 1 Months Ended | 12 Months Ended |
Apr. 30, 2014 | Dec. 31, 2015 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 6 years 109 days | |
Nanjing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 7,650 | |
Wenzhou [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 4,110 | |
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 | |
Customer Relationships [Member] | Nanjing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 4,840 | |
Customer Relationships [Member] | Wenzhou [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 2,920 | |
Customer Relationships [Member] | Jiaxing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 4,630 | |
Noncompete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 3 years | |
Noncompete Agreements [Member] | Nanjing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 520 | |
Noncompete Agreements [Member] | Wenzhou [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 270 | |
Noncompete Agreements [Member] | Jiaxing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 480 | |
Agency Agreement and License [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Useful life | 6 years | |
Agency Agreement and License [Member] | Nanjing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 2,290 | |
Agency Agreement and License [Member] | Wenzhou [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | 920 | |
Agency Agreement and License [Member] | Jiaxing [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Fair Value Acquired | ¥ 2,180 |
Note 3 - Acquisitions and Reo61
Note 3 - Acquisitions and Reorganisation (Details) - Unaudited Pro Forma Information - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Nanjing [Member] | ||
Note 3 - Acquisitions and Reorganisation (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 and Reorganisation (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 | ¥ 0.10 |
Jiaxing [Member] | ||
Note 3 - Acquisitions and Reorganisation (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 (Det
Note 4 - Other Receivables (Details) | Dec. 31, 2014USD ($) |
Guangdong Jintaiping Asset Management Service Company [Member] | |
Note 4 - Other Receivables (Details) [Line Items] | |
Due From Third Party Principal Receivable | $ 17,020 |
Note 4 - Other Receivables (D63
Note 4 - Other Receivables (Details) - Other Receivables, Net ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | |
Note 4 - Other Receivables (Details) - Other Receivables, Net [Line Items] | ||||
Advances to staff (i) | [1] | ¥ 6,492 | ¥ 8,159 | |
Advances to entrepreneurial agents (ii) | [2] | 367 | 981 | |
Rental deposits | 7,655 | 5,701 | ||
Interest income receivables (iii) | [3] | ¥ 29,708 | 46,472 | |
Value-added tax recoverable (iv) | [4] | 2,786 | ||
Other | ¥ 7,606 | 7,030 | ||
¥ 51,828 | $ 8,001 | 88,149 | ||
Subsidiary of Common Parent [Member] | ||||
Note 4 - Other Receivables (Details) - Other Receivables, Net [Line Items] | ||||
Receivable from third parties (v) | [5] | ¥ 17,020 | ||
[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 wereunsecured, interest-free and repayable on demand. | |||
[3] | This represented accrued interest income on bank deposits, interest bearing receivable from third parties as described in (v) and accrued interest on subscription receivables (note 2(m)). | |||
[4] | As of 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, 2014 had been refunded during the year 2015. | |||
[5] | As of December 31, 2014, receivable from third party represented the amount due from Guangdong Jintaiping Asset Management Co. Ltd in an amount of 17,020, which has been fully settled in 2015. |
Note 5 - Property, Plant and 64
Note 5 - Property, Plant and Equipment (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Tangible Asset Impairment Charges | ¥ 0 | ¥ 0 | ¥ 0 |
Note 5 - Property, Plant and 65
Note 5 - Property, Plant and Equipment (Details) - Property, Plant and Equipment, Net ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | ¥ 176,716 | ¥ 185,861 | |
Less: Accumulated depreciation | (142,571) | (138,690) | |
Property, plant and equipment, net | 34,145 | $ 5,271 | 47,171 |
Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 12,317 | 12,317 | |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 128,401 | 127,498 | |
Automobiles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 26,341 | 35,229 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | ¥ 9,657 | ¥ 10,817 |
Note 6 - Goodwill (Details)
Note 6 - Goodwill (Details) | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Disclosure Text Block Supplement [Abstract] | ||||
Goodwill, Impairment Loss | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 |
Note 6 - Goodwill (Details) - G
Note 6 - Goodwill (Details) - Goodwill Activity ¥ in Thousands | 12 Months Ended |
Dec. 31, 2014CNY (¥) | |
RMB | |
Balance | ¥ 133,474 |
Agency [Member] | |
RMB | |
Balance | 78,553 |
Addition for acquisitions in 2014 | 54,921 |
Balance | ¥ 133,474 |
Note 6 - Goodwill (Details) -68
Note 6 - Goodwill (Details) - Goodwill and Accumulated Impairment Losses ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Note 6 - Goodwill (Details) - Goodwill and Accumulated Impairment Losses [Line Items] | ||||
Goodwill, gross | ¥ 1,117,239 | ¥ 1,134,179 | ||
Accumulated impairment loss | (983,765) | (1,000,705) | ||
Net as of January 1, 2014, December 31, 2014 and 2015 | 133,474 | $ 20,605 | 133,474 | |
Eliminated on disposal of a subsidiary | 16,940 | |||
Eliminated on disposal of a subsidiary | (16,940) | |||
Agency [Member] | ||||
Note 6 - Goodwill (Details) - Goodwill and Accumulated Impairment Losses [Line Items] | ||||
Goodwill, gross | 1,096,102 | 1,096,102 | ||
Accumulated impairment loss | (962,628) | (962,628) | ||
Net as of January 1, 2014, December 31, 2014 and 2015 | ¥ 133,474 | 133,474 | ¥ 78,553 | |
Eliminated on disposal of a subsidiary | ||||
Eliminated on disposal of a subsidiary | ||||
Claims Adjusting Segment [Member] | ||||
Note 6 - Goodwill (Details) - Goodwill and Accumulated Impairment Losses [Line Items] | ||||
Goodwill, gross | ¥ 21,137 | 38,077 | ||
Accumulated impairment loss | ¥ (21,137) | ¥ (38,077) | ||
Net as of January 1, 2014, December 31, 2014 and 2015 | ||||
Eliminated on disposal of a subsidiary | ¥ 16,940 | |||
Eliminated on disposal of a subsidiary | ¥ (16,940) |
Note 7 - Investment in Affili69
Note 7 - Investment in Affiliates (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Note 7 - Investment in Affiliates (Details) [Line Items] | ||||
Income (Loss) from Equity Method Investments | ¥ 26,924 | $ 4,156 | ¥ 30,649 | ¥ 20,621 |
¥ 37,567 | $ 5,799 | |||
Shanghai Teamhead Automobile Surveyors Co. Ltd [Member] | ||||
Note 7 - Investment in Affiliates (Details) [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | 40.00% | |
Sincere Fame International Limited [Member] | ||||
Note 7 - Investment in Affiliates (Details) [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 20.60% | 20.60% | 20.60% |
Note 7 - Investment in Affili70
Note 7 - Investment in Affiliates (Details) - Investment in Affiliates ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) |
Schedule of Equity Method Investments [Line Items] | |||
Investment in affiliates | ¥ 284,194 | $ 43,872 | ¥ 219,703 |
Shanghai Teamhead Automobile Surveyors Co. Ltd [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Investment in affiliates | 528 | 498 | |
Sincere Fame International Limited [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Investment in affiliates | ¥ 283,666 | ¥ 219,205 |
Note 7 - Investment in Affili71
Note 7 - Investment in Affiliates (Details) - Financial Information of Equity Method Investees - Balance Sheets - Equity Method Investments [Member] - CNY (¥) ¥ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Balance sheet | ||
Current assets | ¥ 1,348,637 | ¥ 364,045 |
Non-current assets | 2,190,168 | 1,335,315 |
Current liabilities | 2,389,167 | 929,731 |
Non-current liabilities | ¥ 69,615 | ¥ 2,904 |
Note 7 - Investment in Affili72
Note 7 - Investment in Affiliates (Details) - Financial Information of Equity Method Investees - Income Statements - Equity Method Investments [Member] - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Investments [Line Items] | |||
Net Revenues | ¥ 599,372 | ¥ 403,908 | ¥ 365,521 |
Gross profit | 427,258 | 346,688 | 295,954 |
Income from operations | 158,846 | 184,531 | 139,211 |
Net profit | ¥ 130,647 | ¥ 148,891 | ¥ 116,674 |
Note 8 - Variable Interest En73
Note 8 - Variable Interest Entities (Details) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Sichuan Yihe Investment Co. Ltd. Member and Shenzhen Xinbao Investment Management Co.Ltd. [Member] | Ying SiKang Information Technology Shenzhen Co Ltd [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Loans and Leases Receivable Related Parties Commitments Fixed Interest Rates | 0.00% | |
Two PRC Affiliated Entities [Member] | Litian Xilian Information and Zhonglian Enterprise [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Variable Interest Entity VIE Automatic Extended or Renewal Term of Agreement | 1 year | |
Group VIEs [Member] | Sichuan Yihe Investment Co. Ltd. Member and Shenzhen Xinbao Investment Management Co.Ltd. [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Number of Variable Interest Entities | 7 | |
Yihe Investment [Member] | Zhonglian Enterprise [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 39.10% | |
Yihe Investment [Member] | Xinlian Information [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.90% | |
Yihe Investment [Member] | CNinsure Group Company [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% | |
Group VIEs [Member] | Sichuan Yihe Investment Co. Ltd. Member and Shenzhen Xinbao Investment Management Co.Ltd. [Member] | ||
Note 8 - Variable Interest Entities (Details) [Line Items] | ||
Number of Variable Interest Entities | 5 |
Note 8 - Variable Interest En74
Note 8 - Variable Interest Entities (Details) - Financial Information of the Company’s VIEs - Balance Sheets - CNY (¥) ¥ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financial Information of the Company’s VIEs - Balance Sheets [Abstract] | ||
Total assets | ¥ 103,740 | ¥ 63,090 |
Total liabilities | ¥ 104,795 | ¥ 38,716 |
Note 8 - Variable Interest En75
Note 8 - Variable Interest Entities (Details) - Financial Information of the Company’s VIEs - Income Statements ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Variable Interest Entity [Line Items] | ||||
Net Revenues | ¥ 108,133 | ¥ 72,645 | ¥ 125,961 | |
Net loss | (14,554) | (9,636) | (3,767) | |
Net cash used in operating activities | 281,304 | $ 43,426 | 261,649 | 185,945 |
Net cash generated from (used in) investing activities | (1,131,551) | (174,681) | (445,395) | (419,308) |
Net cash generated from financing activities | (143,708) | $ (22,185) | (7,817) | 3,350 |
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Net cash used in operating activities | 37,943 | (49,782) | (13,500) | |
Net cash generated from (used in) investing activities | ¥ (31,682) | 14,709 | ¥ 12,041 | |
Net cash generated from financing activities | ¥ 33,370 |
Note 9 - Other Payables and A76
Note 9 - Other Payables and Accrued Expenses (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 9 - Other Payables and Accrued Expenses (Details) [Line Items] | |||
Due to Third Parties, Current | [1] | ¥ 42,622 | ¥ 23,677 |
Puyi Fund Sales [Member] | |||
Note 9 - Other Payables and Accrued Expenses (Details) [Line Items] | |||
Due to Third Parties, Current | ¥ 19,500 | ||
Puyi Fund Sales [Member] | |||
Note 9 - Other Payables and Accrued Expenses (Details) [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 19.50% | ||
[1] | As of December 31, 2015, included in accrued expenses to third parties represents an amount of RMB19,500 payable to CNinsure Puyi Fund Sales Co. Ltd. ("Puyi Fund Sales"), in which the Group beneficially owns 19.5% equity interests, for promotional activities. |
Note 9 - Other Payables and A77
Note 9 - Other Payables and Accrued Expenses (Details) - Other Payables and Accrued Expenses ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | |
Other Payables and Accrued Expenses [Abstract] | ||||
Business and other tax payable | ¥ 35,358 | ¥ 24,987 | ||
Refundable deposits from employees and agents | 13,239 | 9,705 | ||
Professional fees | 18,553 | 17,340 | ||
Accrued expenses to third parties (note i) | [1] | 42,622 | 23,677 | |
Payables for addition of office equipment, furniture and fixtures | 8,618 | 8,618 | ||
Advance from third parties | 35,808 | 8,542 | ||
Insurance compensation claim payable to customers | 823 | 1,563 | ||
Payable for equity acquisition of investment in affiliates/subsidiaries | 38,495 | 4,685 | ||
Contributions from members of eHuzhu mutual aid program | 8,995 | 2,341 | ||
Others | 11,051 | 7,954 | ||
Total | ¥ 213,562 | $ 32,968 | ¥ 109,412 | |
[1] | As of December 31, 2015, included in accrued expenses to third parties represents an amount of RMB19,500 payable to CNinsure Puyi Fund Sales Co. Ltd. ("Puyi Fund Sales"), in which the Group beneficially owns 19.5% equity interests, for promotional activities. |
Note 10 - Employee Benefit Pl78
Note 10 - Employee Benefit Plans (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 10 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Benefit Plan, Contributions by Employer | ¥ 47,955 | ¥ 45,467 | ¥ 42,919 |
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) ¥ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2015CNY (¥)¥ / shares | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥)¥ / shares | Dec. 31, 2014USD ($) | Dec. 31, 2013CNY (¥)¥ / shares | Dec. 31, 2013USD ($) | Dec. 31, 2012USD ($) | |
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% | |
Income Tax Expense (Benefit) (in Dollars) | ¥ 25,865 | $ 3,993 | ¥ 24,289 | ¥ 27,158 | |||
Operating Loss Carryforwards Expiration Period | 5 years | 5 years | |||||
Tax Loss Carried Forward Expired and Cancelled | 4,251 | ||||||
Income Tax Holiday, Aggregate Dollar Amount | ¥ 44,381 | ¥ 34,315 | ¥ 27,686 | ||||
Income Tax Holiday, Income Tax Benefits Per Share (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.04 | ¥ 0.03 | ¥ 0.03 | ||||
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 | ¥ 1,954,541 | ¥ 1,967,287 | |||||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Domestic Subsidiaries | ¥ 195,454 | ¥ 196,729 | |||||
HONG KONG | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 16.50% | 16.50% | 16.50% | 16.50% | 16.50% | 16.50% | |
Operating Loss Carryforwards Expiration Date One [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Operating Loss Carryforwards | ¥ 14,039 | ||||||
Operating Loss Carryforwards Expiration Date Two [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Operating Loss Carryforwards | 20,306 | ||||||
Operating Loss Carryforwards Expiration Date Three [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Operating Loss Carryforwards | 28,200 | ||||||
Operating Loss Carryforwards Expiration Date Four [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Operating Loss Carryforwards | 34,400 | ||||||
Operating Loss Carryforwards Expiration Date Five [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Operating Loss Carryforwards | ¥ 34,254 | ||||||
Domestic Tax Authority [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 25.00% | 25.00% | |||||
Income Tax Holiday Tax Exemption Period | 2 years | 2 years | |||||
Income Tax Reduction Percentage Following Exemption Period | 50.00% | 50.00% | |||||
Income Tax Reduction Period | 3 years | 3 years | |||||
Income Tax, Statute of Limitations Period for Under Payment of Income Taxes Due to Computational Errors | 3 years | 3 years | |||||
Income Tax, Statute of Limitations Period Under Special Circumstances | 5 years | 5 years | |||||
Underpayment of Income Tax Liability, Sepcial Circumstance Threshold | ¥ 100 | ||||||
Income Tax, Statute of Limitations Period for Transfer Pricing Related Adjustment | 10 years | 10 years | |||||
Operating Loss Carryforwards | ¥ 131,198 | ¥ 166,557 | |||||
Domestic Tax Authority [Member] | Litian Zuoyue Software Beijing Co. Limited [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Income Taxes Preferential Tax Rate | 12.50% | 12.50% | 12.50% | 12.50% | 12.50% | ||
Domestic Tax Authority [Member] | CN Software [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Income Taxes Preferential Tax Rate | 12.50% | 12.50% | 12.50% | 12.50% | |||
Domestic Tax Authority [Member] | State Administration of Taxation, China [Member] | CN Software [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Income Tax Expense (Benefit) (in Dollars) | $ | $ 0 | $ 0 | |||||
Domestic Tax Authority [Member] | State Administration of Taxation, China [Member] | Ying SiKang Information Technology Shenzhen Co Ltd [Member] | |||||||
Note 11 - Income Taxes (Details) [Line Items] | |||||||
Income Tax Expense (Benefit) (in Dollars) | $ | $ 0 | $ 0 |
Note 11 - Income Taxes (Detai80
Note 11 - Income Taxes (Details) - Unrecognized Tax Benefits ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Unrecognized Tax Benefits [Abstract] | ||||
Unrecognized tax benefit | ¥ 53,855 | ¥ 50,735 | ¥ 47,589 | |
Offset/Effect per FASB ASU No. 2013-11 - Income Taxes (Topic 740) | 825 | (4,808) | ||
Gross increase in prior-period tax positions | 15,674 | 7,928 | 3,146 | |
Unrecognized tax benefit | ¥ 70,354 | $ 10,861 | ¥ 53,855 | ¥ 50,735 |
Note 11 - Income Taxes (Detai81
Note 11 - Income Taxes (Details) - Income Tax Expenses ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Income Tax Expenses [Abstract] | ||||
Current tax expense | ¥ 26,932 | ¥ 25,607 | ¥ 29,436 | |
Deferred tax income | (1,067) | (1,318) | (2,278) | |
Income tax expense | ¥ 25,865 | $ 3,993 | ¥ 24,289 | ¥ 27,158 |
Note 11 - Income Taxes (Detai82
Note 11 - Income Taxes (Details) - Deferred Income Tax Assets and Liabilities - CNY (¥) ¥ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Current deferred tax assets: | ||
Operating loss carryforward | ¥ 1,079 | ¥ 4,313 |
Less: valuation allowances | (1,079) | (4,313) |
Non-current deferred tax assets: | ||
Operating loss carryforward, after offset effect of ASU 2013-11 | 27,245 | 33,930 |
Less: valuation allowances | (25,587) | (31,292) |
Non-current deferred tax asset, net | 1,658 | 2,638 |
Total | 1,658 | 2,638 |
Deferred tax liabilities: | ||
Intangible assets, net | 3,895 | 6,769 |
Investment income | 18,162 | 18,162 |
Total | ¥ 22,057 | ¥ 24,931 |
Note 11 - Income Taxes (Detai83
Note 11 - Income Taxes (Details) - Reconciliation of Income Taxes ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Reconciliation of Income Taxes [Abstract] | ||||
Income before income taxes and income of affiliates | ¥ 214,422 | $ 33,102 | ¥ 159,720 | ¥ 106,521 |
PRC statutory tax rate | 25.00% | 25.00% | 25.00% | 25.00% |
Income tax at statutory tax rate | ¥ 53,605 | ¥ 39,930 | ¥ 26,630 | |
Expenses not deductible for tax purposes: | ||||
Entertainment | 685 | 579 | 494 | |
Other | 5,176 | 6,482 | 12,974 | |
Tax exemption and tax relief: | ||||
Tax rate differential | (44,381) | (34,315) | (27,686) | |
Change in valuation allowance | (4,194) | 2,934 | 13,812 | |
Uncertain tax provisions | 15,674 | 7,928 | 3,148 | |
Other | (700) | 751 | (2,214) | |
Income tax expense | ¥ 25,865 | $ 3,993 | ¥ 24,289 | ¥ 27,158 |
Note 12 - Capital Structure (De
Note 12 - Capital Structure (Details) - $ / shares | Dec. 17, 2014 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Nov. 30, 2014 |
Note 12 - Capital Structure (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 6,754,720 | 1,704,380 | |||
Stock Issued During Period, Stock Options Exercised, Percentage of Shares, Outstanding | 0.59% | 0.15% | |||
Stock Repurchased During Period, Shares, Percentage | 0.20% | ||||
American Depositary Shares [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Stock Repurchased During Period, Shares | 2,261,100 | ||||
Employee Companies [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Share Purchase Agreements, Shares Authorized | 150,000,000 | 150,000,000 | 100,000,000 | ||
Stock Issued During Period, Shares, New Issues | 150,000,000 | ||||
Stock Issued During Period, Shares, Percentage of Shares Outstanding | 13.04% | ||||
Stock Issued During Period, Lock-up Period | 180 days | ||||
Stockholders' Equity Note, Subscriptions Receivable, Interest Rate | 3.00% | 3.00% | |||
Employee Companies [Member] | Share Purchase Agreements, Share Price 1 [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 100,000,000 | 100,000,000 | |||
Shares Issued, Price Per Share (in Dollars per share) | $ 0.27 | $ 0.27 | |||
Employee Companies [Member] | Share Purchase Agreements, Share Price 1 [Member] | American Depositary Shares [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Shares Issued, Price Per Share (in Dollars per share) | $ 5.40 | 5.40 | |||
Employee Companies [Member] | Share Purchase Agreements, Share Price 2 [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 50,000,000 | 50,000,000 | |||
Shares Issued, Price Per Share (in Dollars per share) | $ 0.29 | $ 0.29 | $ 0.29 | ||
Employee Companies [Member] | Share Purchase Agreements, Share Price 2 [Member] | American Depositary Shares [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Shares Issued, Price Per Share (in Dollars per share) | $ 5.8 | ||||
Maximum [Member] | Employee Companies [Member] | |||||
Note 12 - Capital Structure (Details) [Line Items] | |||||
Stockholders' Equity Note, Subscriptions Receivable, Term | 2 years | 2 years |
Note 13 - Net Income Per Shar85
Note 13 - Net Income Per Share (Details) - shares | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 16,920 | 38,222,880 |
Note 13 - Net Income Per Shar86
Note 13 - Net Income Per Share (Details) - Net Income (Loss) per Share ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥)¥ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014CNY (¥)¥ / sharesshares | Dec. 31, 2013CNY (¥)¥ / sharesshares | |
Basic: | ||||
Net income | ¥ | ¥ 215,481 | ¥ 166,080 | ¥ 99,984 | |
Less: Net (loss) income attributable to the noncontrolling interests | 5,395 | $ 833 | 4,320 | 4,341 |
Net income (loss) attributable to the Company’s shareholders | ¥ 210,086 | $ 32,432 | ¥ 161,760 | ¥ 95,643 |
Weighted average number of ordinary shares outstanding (in Shares) | 1,151,705,374 | 1,151,705,374 | 1,005,842,212 | 998,861,526 |
Weighted average number of dilutive potential ordinary shares from share options (in Shares) | 51,618,147 | 51,618,147 | 6,749,175 | 1,708,492 |
Total (in Shares) | 1,203,323,521 | 1,203,323,521 | 1,012,591,387 | 1,000,570,018 |
Diluted net income per ordinary share (in Yuan Renminbi per share) | (per share) | ¥ 0.17 | $ 0.03 | ¥ 0.16 | ¥ 0.10 |
Diluted net income per ADS (in Yuan Renminbi per share) | ¥ / shares | 3.49 | 3.19 | 1.91 | |
Basic net income per ordinary share (in Yuan Renminbi per share) | (per share) | 0.18 | $ 0.03 | 0.16 | 0.10 |
Basic net income per ADS (in Yuan Renminbi per share) | ¥ / shares | ¥ 3.65 | ¥ 3.22 | ¥ 1.92 |
Note 14 - Distribution of Pro87
Note 14 - Distribution of Profits (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | |
Note 14 - Distribution of Profits (Details) [Line Items] | |||
Retained Earnings, Appropriated | ¥ 302,115 | $ 46,639 | ¥ 198,422 |
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% | 50.00% |
Note 15 - Related Party Balan88
Note 15 - Related Party Balances and Transactions (Details) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Oct. 31, 2011CNY (¥) | Oct. 31, 2011USD ($) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | ||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Related Party Transaction Interest Income from Transactions with Related Party | [1] | ¥ 29,708 | ¥ 46,472 | |||
Subsidiary Holding Equity Interest in Subsidiary of Sincere Fame [Member] | Beijing Fanhua Micro Credit Company Limited [Member] | ||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Equity Method Investment, Ownership Percentage | 30.00% | |||||
Sincere Fame International Limited and Subsidiaries [Member] | ||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Related Party Transaction Amount of Loan Agreed to be Advanced | $ | $ 50,000 | |||||
Due from Related Party Principal Receivable, Current | 179,681 | |||||
Interest Receivable, Current | ¥ 36,508 | 28,420 | ||||
Accounts Receivable, Related Parties, Current | 1,500 | |||||
Sincere Fame International Limited [Member] | ||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Facility Letter Validity Period | 2 years | 2 years | ||||
Facility Letter Validity Renewal Period | 2 years | 2 years | ||||
Related Party Transaction, Rate | 7.30% | 7.30% | ||||
Affiliated Entity [Member] | ||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Related Party Transaction Interest Income from Transactions with Related Party | ¥ 6,843 | ¥ 8,088 | ¥ 12,170 | |||
Affiliated Entity [Member] | Subsidiaries [Member] | ||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Revenue from Related Parties | ¥ 1,415 | |||||
Maximum [Member] | Sincere Fame International Limited and Subsidiaries [Member] | ||||||
Note 15 - Related Party Balances and Transactions (Details) [Line Items] | ||||||
Related Party Transaction Amount of Loan Agreed to be Advanced | ¥ 317,990 | |||||
[1] | This represented accrued interest income on bank deposits, interest bearing receivable from third parties as described in (v) and accrued interest on subscription receivables (note 2(m)). |
Note 15 - Related Party Balan89
Note 15 - Related Party Balances and Transactions (Details) - Due from and Due to Related Parties ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | |
Related Party Transaction [Line Items] | ||||
Amount due from an affiliate and its subsidiaries, net (i) | ¥ 36,508 | $ 5,636 | ¥ 209,601 | |
Subscription receivables (note 2(m) & note 12) | 268,829 | $ 41,500 | 257,491 | |
Noncontrolling Shareholders [Member] | ||||
Related Party Transaction [Line Items] | ||||
Amount due from an affiliate and its subsidiaries, net (i) | [1] | ¥ 36,508 | ¥ 209,601 | |
[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 2015. 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, 2014 and 2015, the amount due from Sincere Fame and its subsidiaries represented RMB179,681 and nil principal receivable, RMB28,420 and RMB36,508 (US$5,636) interest receivable which are unsecured and bear interest at 7.3% and are repayable on demand. In addition, as of December 31, 2014 and 2015, amount of RMB1,500 and nil account receivables represent due from Sincere Fame and its subsidiaries are unsecured, interest-free and repayable on demand. |
Note 16 - Commitments and Con90
Note 16 - Commitments and Contingencies (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Operating Leases, Rent Expense, Net | ¥ 36,206 | ¥ 27,455 | ¥ 30,509 |
Note 16 - Commitments and Con91
Note 16 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under Non-cancelable Operating Leases ¥ in Thousands | Dec. 31, 2015CNY (¥) |
Future Minimum Lease Payments under Non-cancelable Operating Leases [Abstract] | |
2,016 | ¥ 31,152 |
2,017 | 16,080 |
2,018 | 7,516 |
2,019 | 6,535 |
2,020 | 4,121 |
Total | ¥ 65,404 |
Note 17 - Concentrations of C92
Note 17 - Concentrations of Credit Risk (Details) - Concentration Risk - Net Revenues - Sales [Member] - Customer Concentration Risk [Member] - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | ¥ 1,276,835 | ¥ 992,491 | ¥ 799,490 |
Total net revenues from commissions and fees (%) | 45.00% | 47.00% | 46.00% |
PICC [Member] | |||
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | ¥ 676,939 | ¥ 442,608 | ¥ 346,405 |
Total net revenues from commissions and fees (%) | 24.00% | 21.00% | 20.00% |
China Pacific Property Insurance Co. Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | ¥ 315,961 | ¥ 255,655 | ¥ 204,983 |
Total net revenues from commissions and fees (%) | 11.00% | 12.00% | 12.00% |
Ping An Property and Casualty Insurance Company of China Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Total net revenues from commissions and fees ($) | ¥ 283,935 | ¥ 294,228 | ¥ 248,102 |
Total net revenues from commissions and fees (%) | 10.00% | 14.00% | 14.00% |
Note 17 - Concentrations of C93
Note 17 - Concentrations of Credit Risk (Details) - Concentration Risk - Accounts Receivable ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2015USD ($) | |||
Concentration Risk [Line Items] | |||||
Accounts Receivable ($) | ¥ 241,264 | ¥ 186,150 | $ 37,245 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Concentration Risk [Line Items] | |||||
Accounts Receivable ($) | ¥ 109,254 | ¥ 83,947 | |||
Accounts Receivable (%) | 45.00% | 45.00% | |||
PICC [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Concentration Risk [Line Items] | |||||
Accounts Receivable ($) | ¥ 53,851 | ¥ 32,117 | |||
Accounts Receivable (%) | 22.00% | 17.00% | |||
China Pacific Property Insurance Co. Ltd [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Concentration Risk [Line Items] | |||||
Accounts Receivable ($) | ¥ 28,947 | ¥ 22,927 | |||
Accounts Receivable (%) | 12.00% | 12.00% | |||
Ping An Property and Casualty Insurance Company of China Ltd [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Concentration Risk [Line Items] | |||||
Accounts Receivable ($) | [1] | ¥ 28,903 | |||
Accounts Receivable (%) | [1] | 16.00% | |||
Huaxia Life Insurance Company Limited [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||
Concentration Risk [Line Items] | |||||
Accounts Receivable ($) | ¥ 26,456 | [1] | |||
Accounts Receivable (%) | 11.00% | [1] | |||
[1] | represented less than 10% of account receivables as of the year end. |
Note 18 - Non-Cash Transactio94
Note 18 - Non-Cash Transactions (Details) - Non-Cash Investing Activities ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2013CNY (¥) | |
Non-Cash Investing Activities [Abstract] | ||||
Considerations payable in connection with acquisition of additional interests in subsidiaries | ¥ 34,310 | ¥ 4,685 | ||
Considerations payable in connection with other investment | ¥ 3,720 | |||
Subscription receivables from employee companies (Note 2(m) & Note 12) | ¥ 268,829 | ¥ 257,491 | $ 41,500 |
Note 19 - Share-based Compens95
Note 19 - Share-based Compensation (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands | Jul. 01, 2014¥ / sharesshares | Jun. 24, 2013¥ / sharesshares | Apr. 02, 2012¥ / sharesshares | Mar. 12, 2012¥ / shares | Mar. 12, 2012¥ / shares$ / shares | Mar. 12, 2012¥ / sharesshares | Mar. 12, 2012¥ / shares$ / sharesshares | Mar. 09, 2009¥ / sharesshares | Nov. 21, 2008¥ / sharesshares | Oct. 31, 2015CNY (¥) | Dec. 31, 2013CNY (¥)¥ / sharesshares | Dec. 31, 2015CNY (¥)¥ / sharesshares | Dec. 31, 2014CNY (¥)¥ / sharesshares | Dec. 31, 2013CNY (¥)¥ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Nov. 30, 2014¥ / sharesshares | Nov. 30, 2014$ / sharesshares | Oct. 31, 2014shares | Dec. 31, 2012¥ / sharesshares | Mar. 29, 2012shares | Mar. 12, 2012$ / shares | Mar. 09, 2009$ / shares | Nov. 21, 2008$ / shares |
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 17,653 | ¥ 23,598 | ¥ 45,317 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 6,754,720 | 1,704,380 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 429,328 | 2,113,656 | 1,431,734 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 131,729,497 | 75,063,552 | 82,247,600 | 131,729,497 | 75,063,552 | 133,161,231 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 7,288,151 | 7,288,151 | |||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Yuan Renminbi) | ¥ | ¥ 4,893 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 67,775,401 | 67,775,401 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 1.92 | ¥ 1.93 | ¥ 1.93 | ¥ 1.92 | ¥ 1.92 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 1.94 | ||||||||||||||||||||||
Inscom Options 2013 Plan [Member] | |||||||||||||||||||||||
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 | ||||||||||||||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Shares Authorized as Percentage of Total Number of Ordinary Shares | 20.00% | ||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 1.20 | ||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 6 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | |||||||||||||||||||||
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, Options, Forfeitures in Period | 4,119,879 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 16,538,433 | 16,538,433 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 0 | 0 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 16,538,433 | 16,538,433 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years | ||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ | $ 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.025 | ||||||||||||||||||||||
Inscom Options 2013 Plan [Member] | Entrepreneurial Agents [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,914,312 | ||||||||||||||||||||||
Inscom Options 2013 Plan [Member] | Employees [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 14,744,000 | ||||||||||||||||||||||
InsCom Options 2014 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.028 | ||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 109 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | ¥ / shares | ¥ 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 2,073,794 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 9,592,487 | 9,592,487 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 0 | 0 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 9,592,487 | 9,592,487 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 292 days | ||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $ | $ 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.028 | ||||||||||||||||||||||
InsCom Options 2014 Plan [Member] | Entrepreneurial Agents [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,477,281 | ||||||||||||||||||||||
InsCom Options 2014 Plan [Member] | Employees [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 8,189,000 | ||||||||||||||||||||||
Inscom Options 2012 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | 6 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | ¥ / shares | ¥ 1 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | ¥ / shares | ¥ 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 6,036,035 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 54,972,301 | 54,972,301 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 0 | 0 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 54,972,301 | 54,972,301 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.025 | ||||||||||||||||||||||
Inscom Options 2012 Plan [Member] | Entrepreneurial Agents [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 36,515,586 | ||||||||||||||||||||||
Inscom Options 2012 Plan [Member] | Employees [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 24,492,750 | ||||||||||||||||||||||
Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 92,845,000 | 92,845,000 | |||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 12,940 | ¥ 22,200 | ¥ 35,732 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 5,923,620 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | 5 years | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | (per share) | ¥ 1.90 | ¥ 1.90 | ¥ 1.90 | ¥ 1.90 | ¥ 0.006 | $ 0.001 | $ 0.30 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | (per share) | ¥ 0.26 | ¥ 0.04 | |||||||||||||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Risk Premium | 1.05% | 1.05% | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 114,250 | 932,305 | 786,670 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 39,838,822 | 39,838,822 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 32,770,447 | 32,770,447 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 6 years 3 months | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.006 | ||||||||||||||||||||||
Options 2012 Plan G [Member] | Director [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 8,800,000 | 8,800,000 | |||||||||||||||||||||
Options 2012 Plan G [Member] | Independent Director [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | (per share) | 1.98 | 1.98 | ¥ 1.98 | ¥ 1.98 | 0.31 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 3,200,000 | 3,200,000 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | (per share) | ¥ 0.17 | ¥ 0.03 | |||||||||||||||||||||
Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,800,000 | 3,800,000 | |||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 1,213 | ¥ 1,289 | ¥ 1,288 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | (per share) | 1.90 | ¥ 1.90 | ¥ 1.90 | ¥ 1.90 | ¥ 0.006 | $ 0.001 | $ 0.30 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | (per share) | ¥ 0.26 | ¥ 0.04 | |||||||||||||||||||||
Share Based Compensation Arrangement by Share Based Payment Award, Risk Premium | 1.05% | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 284,978 | 898,740 | 143,664 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,023,310 | 1,023,310 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 803,534 | 803,534 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 6 years 3 months | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.006 | ||||||||||||||||||||||
Options 2012 Plan H [Member] | Entrepreneurial Agents [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,000,000 | 3,000,000 | |||||||||||||||||||||
Options 2012 Plan H [Member] | Captains [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 800,000 | 800,000 | |||||||||||||||||||||
Options 2010 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 62,140 | ||||||||||||||||||||||
Options 2009 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 10,000,000 | ||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 238 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 394,420 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | (per share) | ¥ 2.30 | $ 0.34 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | ¥ / shares | ¥ 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 30,100 | 110,900 | 231,600 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 6,575,480 | 6,575,480 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 6,575,480 | 6,575,480 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 2.30 | ||||||||||||||||||||||
Options 2008 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 32,000,000 | ||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 946 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 374,540 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | (per share) | ¥ 1.90 | $ 0.28 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | ¥ / shares | ¥ 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 171,700 | 269,800 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 27,625,940 | 27,625,940 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 27,625,940 | 27,625,940 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 1.90 | ||||||||||||||||||||||
2008 Options and 2009 Options [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost (in Yuan Renminbi) | ¥ | ¥ 6,700 | ||||||||||||||||||||||
Inscom Options [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Yuan Renminbi per share) | ¥ / shares | ¥ 0.025 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost (in Yuan Renminbi) | ¥ | ¥ 100 | ¥ 401 | |||||||||||||||||||||
Share-based Compensation, Options, Extended Period | 1 year | ||||||||||||||||||||||
Options 2012 Plan G and Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 46,722,500 | 46,722,500 | 96,645,000 | ||||||||||||||||||||
Options Modified into Shares Options | 91,327,722 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 45,663,861 | ||||||||||||||||||||||
Option Modification [Member] | Options 2012 Plan G and Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 0 | ||||||||||||||||||||||
Vest on June 30, 2015 [Member] | InsCom Options 2014 Plan [Member] | Entrepreneurial Agents [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,477,281 | ||||||||||||||||||||||
Vest on June 30, 2015 [Member] | InsCom Options 2014 Plan [Member] | Employees [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,930,000 | ||||||||||||||||||||||
Vest on July 1, 2014 [Member] | InsCom Options 2014 Plan [Member] | Employees [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 4,259,000 | ||||||||||||||||||||||
Option I1 [Member] | Vesting on April 2, 2012 [Member] | Inscom Options 2012 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 86.00% | ||||||||||||||||||||||
Option I2 [Member] | Vesting on June 30, 2013 [Member] | Inscom Options 2012 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 14.00% | ||||||||||||||||||||||
Option I3 [Member] | Vesting on April 2, 2012 [Member] | Inscom Options 2012 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 36.00% | ||||||||||||||||||||||
Option I4 [Member] | Vesting on June 30, 2013 [Member] | Inscom Options 2012 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 64.00% | ||||||||||||||||||||||
Option G1 [Member] | Vesting on May 31, 2012 [Member] | Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 20.00% | |||||||||||||||||||||
Option G2 [Member] | Vesting on May 31, 2013 [Member] | Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 20.00% | |||||||||||||||||||||
Option G3 [Member] | Vesting on May 31, 2014 [Member] | Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | 25.00% | |||||||||||||||||||||
Option G4 [Member] | Vesting on May 31, 2015 [Member] | Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 20.00% | |||||||||||||||||||||
Option G5 [Member] | Vesting on May 31, 2016 [Member] | Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 15.00% | 15.00% | |||||||||||||||||||||
Option H1 [Member] | Vesting on May 31, 2014 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 40.00% | |||||||||||||||||||||
Option H2 [Member] | Vesting on May 31, 2015 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 40.00% | |||||||||||||||||||||
Option H3 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares | $ 0.46 | ||||||||||||||||||||||
Option H3 [Member] | Vesting on May 31, 2016 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 20.00% | |||||||||||||||||||||
Option H4 [Member] | Vesting on May 31, 2014 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 40.00% | |||||||||||||||||||||
Option H5 [Member] | Vesting on May 31, 2015 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | 40.00% | |||||||||||||||||||||
Option H6 [Member] | Vesting on May 31, 2016 [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | 20.00% | |||||||||||||||||||||
Option D 1 [Member] | Vesting on March 31, 2010 [Member] | Options 2009 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | ||||||||||||||||||||||
Option D 2 [Member] | Vesting on March 31, 2011 [Member] | Options 2009 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | ||||||||||||||||||||||
Option D 3 [Member] | Vesting on March 31, 2012 [Member] | Options 2009 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||
Option D 4 [Member] | Vesting on March 31, 2013 [Member] | Options 2009 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||
Option C 1 [Member] | Vesting on March 31, 2010 [Member] | Options 2008 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | ||||||||||||||||||||||
Option C 2 [Member] | Vesting on March 31, 2011 [Member] | Options 2008 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | ||||||||||||||||||||||
Option C 3 [Member] | Vesting on March 31, 2012 [Member] | Options 2008 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||
Option C 4 [Member] | Vesting on March 31, 2013 [Member] | Options 2008 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||
Forfeited Options [Member] | Options 2012 Plan G [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 0 | 0 | ¥ 0 | ||||||||||||||||||||
Forfeited Options [Member] | Options 2012 Plan H [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | 0 | 0 | 0 | ||||||||||||||||||||
Forfeited Options [Member] | Options 2009 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | 0 | 0 | 0 | ||||||||||||||||||||
Forfeited Options [Member] | Options 2008 Plan [Member] | |||||||||||||||||||||||
Note 19 - Share-based Compensation (Details) [Line Items] | |||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Yuan Renminbi) | ¥ | ¥ 0 | ¥ 0 | ¥ 0 |
Note 19 - Share-based Compens96
Note 19 - Share-based Compensation (Details) - 2012 Option G -Fair Value Assumptions - Options 2012 Plan G [Member] | 12 Months Ended |
Dec. 31, 2015 | |
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 - Share-based Compens97
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions - Options 2012 Plan H [Member] | 12 Months Ended | ||||
Dec. 31, 2015$ / shares | Nov. 30, 2014¥ / shares | Nov. 30, 2014$ / shares | Mar. 12, 2012¥ / shares | Mar. 12, 2012$ / shares | |
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions [Line Items] | |||||
Stock price per underlying ordinary shares (in Dollars per share) | (per share) | ¥ 0.006 | $ 0.001 | ¥ 1.90 | $ 0.30 | |
Option H3 [Member] | |||||
Note 19 - Share-based Compensation (Details) - 2012 Inscom Options H - Fair Value Assumptions [Line Items] | |||||
Stock price per underlying ordinary shares (in Dollars per share) | $ 0.46 | ||||
Weight average assumptions – expected dividend yield | 0.00% | ||||
Risk-free interest rate | 1.60% | ||||
Expected life | 4 years 113 days | ||||
Expected volatility | 64.83% |
Note 19 - Share-based Compens98
Note 19 - Share-based Compensation (Details) - 2009 Options - Fair Value Assumptions - Options 2009 Plan [Member] | 12 Months Ended |
Dec. 31, 2015 | |
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 - Share-based Compens99
Note 19 - Share-based Compensation (Details) - 2008 Options - Fair Value Assumptions - Options 2008 Plan [Member] | 12 Months Ended |
Dec. 31, 2015 | |
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 - Share-based Compen100
Note 19 - Share-based Compensation (Details) - Stock Option Activity - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Stock Option Activity [Abstract] | |||
Number of shares | 82,247,600 | 131,729,497 | 133,161,231 |
Weighted average exercise price | ¥ 1.93 | ¥ 1.92 | ¥ 1.92 |
Aggregate intrinsic value | ¥ 10,177 | ¥ 15,436 | ¥ 15,436 |
Exercisable as of December 31, 2015 | 67,775,401 | ||
Exercisable as of December 31, 2015 | ¥ 1.94 | ||
Exercisable as of December 31, 2015 | ¥ 63,801 | ||
Number of shares exercised | (6,754,720) | (1,704,380) | |
Weighted average exercise price, exercised | ¥ 1.92 | ¥ 2.09 | |
Number of shares exercised forfeited | (429,328) | (2,113,656) | (1,431,734) |
Weighted average exercise price, forfeited | ¥ 1.93 | ¥ 1.92 | ¥ 1.96 |
Modification of the 2012 Options | (45,663,861) | ||
Modification of the 2012 Options | ¥ 1.90 | ||
Number of shares | 75,063,552 | 82,247,600 | 131,729,497 |
Weighted average exercise price | ¥ 1.93 | ¥ 1.93 | ¥ 1.92 |
Aggregate intrinsic value | ¥ 70,931 | ¥ 10,177 | ¥ 15,436 |
Note 19 - Share-based Compen101
Note 19 - Share-based Compensation (Details) - Information about Share Option Plans - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Information about Share Option Plans [Abstract] | |||
Weighted-average grant-date fair value per share of options granted (in Yuan Renminbi per share) | ¥ 0 | ¥ 0 | ¥ 0 |
Total intrinsic value of options exercised | ¥ 17,399 | ¥ 837 | ¥ 0 |
Total fair value of share options vested | ¥ 38,178 | ¥ 44,912 | ¥ 34,362 |
Note 19 - Share-based Compen102
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding - ¥ / shares | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 75,063,552 | 82,247,600 | 131,729,497 | 133,161,231 |
Weighted average exercise price in RMB (in Yuan Renminbi per share) | ¥ 1.93 | ¥ 1.93 | ¥ 1.92 | ¥ 1.92 |
Options Exercisable | 67,775,401 | |||
Options 2012 Plan G [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 39,838,822 | |||
Weighted average remaining contractual life (Years) | 6 years 3 months | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | ¥ 0.006 | |||
Options Exercisable | 32,770,447 | |||
Options 2012 Plan H [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 1,023,310 | |||
Weighted average remaining contractual life (Years) | 6 years 3 months | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | ¥ 0.006 | |||
Options Exercisable | 803,534 | |||
Options 2009 Plan [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 6,575,480 | |||
Weighted average remaining contractual life (Years) | 2 years | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | ¥ 2.30 | |||
Options Exercisable | 6,575,480 | |||
Options 2008 Plan [Member] | ||||
Note 19 - Share-based Compensation (Details) - Stock Options Outstanding [Line Items] | ||||
Options outstanding | 27,625,940 | |||
Weighted average remaining contractual life (Years) | 2 years | |||
Weighted average exercise price in RMB (in Yuan Renminbi per share) | ¥ 1.90 | |||
Options Exercisable | 27,625,940 |
Note 20 - Restricted Net Ass103
Note 20 - Restricted Net Assets (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 20 - Restricted Net Assets (Details) [Line Items] | ||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | ¥ 2,164,132 | ¥ 2,055,417 |
Group VIEs [Member] | ||
Note 20 - Restricted Net Assets (Details) [Line Items] | ||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | ¥ 78,847 | ¥ 131,313 |
Note 21 - Segment Reporting (De
Note 21 - Segment Reporting (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Number of Operating Segments | 3 |
Note 21 - Segment Reporting 105
Note 21 - Segment Reporting (Details) - Group’s Operations by Business Segment ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Net revenues | ||||
Total net revenues | ¥ 2,828,308 | $ 436,616 | ¥ 2,150,011 | ¥ 1,757,024 |
Operating costs and expenses | ||||
Total operating costs and expenses | (2,749,786) | (424,493) | (2,119,112) | (1,739,038) |
Income (loss) from operations | ||||
Total income from operations | 78,522 | 12,123 | 30,899 | 17,986 |
Agency [Member] | ||||
Net revenues | ||||
Total net revenues | 2,155,264 | 332,716 | 1,624,410 | 1,418,512 |
Operating costs and expenses | ||||
Total operating costs and expenses | (1,969,329) | (304,012) | (1,486,871) | (1,305,306) |
Income (loss) from operations | ||||
Total income from operations | 185,935 | 28,704 | 137,539 | 113,206 |
Brokerage [Member] | ||||
Net revenues | ||||
Total net revenues | 369,198 | 56,994 | 232,620 | 63,418 |
Operating costs and expenses | ||||
Total operating costs and expenses | (319,124) | (49,264) | (197,017) | (53,719) |
Income (loss) from operations | ||||
Total income from operations | 50,074 | 7,730 | 35,603 | 9,699 |
Claims Adjusting Segment [Member] | ||||
Net revenues | ||||
Total net revenues | 303,846 | 46,906 | 292,981 | 261,206 |
Operating costs and expenses | ||||
Total operating costs and expenses | (292,613) | (45,171) | (275,539) | (234,129) |
Income (loss) from operations | ||||
Total income from operations | 11,233 | 1,735 | 17,442 | 27,077 |
Other Segments [Member] | ||||
Net revenues | ||||
Total net revenues | 13,888 | |||
Operating costs and expenses | ||||
Total operating costs and expenses | (168,720) | (26,046) | (159,685) | (145,884) |
Income (loss) from operations | ||||
Total income from operations | ¥ (168,720) | $ (26,046) | ¥ (159,685) | ¥ (131,996) |
Note 21 - Segment Reporting 106
Note 21 - Segment Reporting (Details) - Segment Assets ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) |
Segment assets | |||
Total assets | ¥ 4,014,428 | $ 619,721 | ¥ 3,748,486 |
Agency [Member] | |||
Segment assets | |||
Total assets | 454,803 | 70,209 | 1,682,305 |
Brokerage [Member] | |||
Segment assets | |||
Total assets | 160,286 | 24,744 | 118,139 |
Claims Adjusting Segment [Member] | |||
Segment assets | |||
Total assets | 226,121 | 34,907 | 116,877 |
Other Segments [Member] | |||
Segment assets | |||
Total assets | ¥ 3,173,218 | $ 489,861 | ¥ 1,831,165 |
Note 22 - Subsequent Event (Det
Note 22 - Subsequent Event (Details) | 1 Months Ended |
Jan. 31, 2016 | |
Dianliang Information [Member] | Subsequent Event [Member] | |
Note 22 - Subsequent Event (Details) [Line Items] | |
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 100.00% |
Schedule 1 - Condensed Finan108
Schedule 1 - Condensed Financial Statements of the Company (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | ¥ 2,164,132 | ¥ 2,055,417 |
Schedule 1 - Condensed Finan109
Schedule 1 - Condensed Financial Statements of the Company (Details) - Condensed Balance Sheet ¥ in Thousands, $ in Thousands | Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2014USD ($) | Dec. 31, 2013CNY (¥) | Dec. 31, 2012CNY (¥) |
Current assets: | ||||||
Cash and cash equivalents | ¥ 1,115,266 | $ 172,167 | ¥ 2,103,068 | $ 324,658 | ¥ 2,288,623 | ¥ 2,525,618 |
Other receivables | 51,828 | 8,001 | 88,149 | |||
Total current assets | 3,513,061 | 542,324 | 3,301,726 | |||
Non-current assets: | ||||||
Total assets | 4,014,428 | 619,721 | 3,748,486 | |||
Current liabilities: | ||||||
Total liabilities | 580,859 | 89,669 | 414,226 | |||
Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 1,150,565,906 and 1,155,059,526 as of December 31, 2014 and 2015, respectively) | 8,592 | 1,326 | 8,563 | |||
Additional paid-in capital | 2,454,244 | 378,870 | 2,601,401 | |||
Accumulated other comprehensive loss | (50,048) | (7,726) | (105,106) | |||
Subscription receivables | (268,829) | (41,500) | (257,491) | |||
Total shareholders’ equity | 3,317,430 | 512,123 | 3,210,752 | |||
Total liabilities and shareholders' equity | 4,014,428 | 619,721 | 3,748,486 | |||
Parent Company [Member] | ||||||
Current assets: | ||||||
Cash and cash equivalents | 5,349 | 826 | 9,707 | $ 1,499 | ¥ 11,471 | ¥ 14,589 |
Other receivables | 213,806 | 33,006 | 296 | |||
Amounts due from subsidiaries | 1,394,118 | 215,215 | 1,539,702 | |||
Total current assets | 1,613,273 | 249,047 | 1,549,705 | |||
Non-current assets: | ||||||
Investment in subsidiaries | 1,736,488 | 268,067 | 1,700,295 | |||
Total assets | 3,349,761 | 517,114 | 3,250,000 | |||
Current liabilities: | ||||||
Other payables | 4,602 | 710 | 2,723 | |||
Amounts due to subsidiaries | 27,729 | 4,281 | 36,525 | |||
Total liabilities | 32,331 | 4,991 | 39,248 | |||
Ordinary shares (Authorized shares:10,000,000,000 at US$0.001 each; issued and outstanding shares: 1,150,565,906 and 1,155,059,526 as of December 31, 2014 and 2015, respectively) | 8,592 | 1,326 | 8,563 | |||
Additional paid-in capital | 2,454,244 | 378,870 | 2,601,401 | |||
Retained earnings | 1,173,471 | 181,153 | 963,385 | |||
Accumulated other comprehensive loss | (50,048) | (7,726) | (105,106) | |||
Subscription receivables | (268,829) | (41,500) | (257,491) | |||
Total shareholders’ equity | 3,317,430 | 512,123 | 3,210,752 | |||
Total liabilities and shareholders' equity | ¥ 3,349,761 | $ 517,114 | ¥ 3,250,000 |
Schedule 1 - Condensed Finan110
Schedule 1 - Condensed Financial Statements of the Company (Details) - Condensed Balance Sheet (Parentheticals) | Dec. 31, 2015¥ / sharesshares | Dec. 31, 2015$ / sharesshares | Dec. 31, 2014¥ / sharesshares |
Condensed Balance Sheet Statements, Captions [Line Items] | |||
Ordinary shares, shares authorized | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 |
Ordinary shares, value per share (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0.001 | $ 0.001 | ¥ 0.001 |
Ordinary shares, shares issued | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 |
Ordinary shares, shares outstanding | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 |
Parent Company [Member] | |||
Condensed Balance Sheet Statements, Captions [Line Items] | |||
Ordinary shares, shares authorized | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 |
Ordinary shares, value per share (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0.001 | $ 0.001 | ¥ 0.001 |
Ordinary shares, shares issued | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 |
Ordinary shares, shares outstanding | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 |
Schedule 1 - Condensed Finan111
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Income and Comprehensive Income ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | ||
Condensed Income Statements, Captions [Line Items] | |||||
General and administrative expenses | [1] | ¥ (456,001) | $ (70,394) | ¥ (396,692) | ¥ (349,205) |
Interest income | 57,234 | 8,835 | 82,251 | 84,250 | |
Net income | 210,086 | 32,432 | 161,760 | 95,643 | |
Other comprehensive (loss) income, net of tax: | |||||
Foreign currency translation adjustments | 6,153 | 949 | 6,008 | (6,982) | |
Share of other comprehensive income of affiliates, net of tax | 37,567 | 5,799 | |||
Comprehensive income attributable to the Company's shareholders | 253,806 | 39,180 | 167,768 | 88,661 | |
Parent Company [Member] | |||||
Condensed Income Statements, Captions [Line Items] | |||||
General and administrative expenses | (19,839) | (3,062) | (31,191) | (50,633) | |
Interest income | 15,913 | 2,456 | 12,464 | 6,847 | |
Equity in earnings of subsidiaries | 214,012 | 33,038 | 180,487 | 139,429 | |
Net income | 210,086 | 32,432 | 161,760 | 95,643 | |
Other comprehensive (loss) income, net of tax: | |||||
Foreign currency translation adjustments | 6,153 | 949 | 6,008 | (6,982) | |
Share of other comprehensive income of affiliates, net of tax | 37,567 | 5,799 | |||
Comprehensive income attributable to the Company's shareholders | ¥ 253,806 | $ 39,180 | ¥ 167,768 | ¥ 88,661 | |
[1] | Including share-based compensation expenses of RMB45,317, RMB23,598 and RMB17,653 (US$2,725), for the years ended December 31, 2013, 2014 and 2015,respectively. |
Schedule 1 - Condensed Finan112
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014CNY (¥)shares | Dec. 31, 2013CNY (¥)shares | |
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance (in Shares) | shares | 1,150,565,906 | 1,150,565,906 | ||
Balance | ¥ 3,334,260 | ¥ 3,146,762 | ¥ 3,007,907 | |
Balance as of December 31, 2015 in US$ (in Dollars) | 3,334,260 | $ 530,052 | 3,334,260 | 3,007,907 |
Net income | 215,481 | 33,265 | 166,080 | 99,984 |
Foreign currency translation | 6,153 | 949 | ¥ 6,008 | (6,982) |
Repurchase of ordinary shares | ¥ (6,276) | $ (969) | ||
Exercise of share options (in Shares) | shares | 6,754,720 | 6,754,720 | 1,704,380 | |
Exercise of share options | ¥ 1,518 | ¥ 3,183 | ||
Share-based compensation | 17,653 | 23,598 | 45,317 | |
Acquisition of additional interest in a subsidiary | 187,810 | ¥ 11,371 | ||
Share of other comprehensive income in affiliates | ¥ 37,567 | $ 5,799 | ||
Balance (in Shares) | shares | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 | |
Balance | ¥ 3,433,569 | $ 530,052 | ¥ 3,334,260 | ¥ 3,146,762 |
Common Stock [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance (in Shares) | shares | 1,150,565,906 | 1,150,565,906 | 998,861,526 | 998,861,526 |
Balance | ¥ 8,563 | ¥ 7,624 | ¥ 7,624 | |
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 8,563 | $ 1,326 | ¥ 7,624 | ¥ 7,624 |
Issue new shares to employees (in Shares) | shares | 150,000,000 | |||
Issue new shares to employees | ¥ 928 | |||
Exercise of share options (in Shares) | shares | 4,493,620 | 4,493,620 | 1,704,380 | |
Exercise of share options | ¥ 29 | ¥ 11 | ||
Balance (in Shares) | shares | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 | 998,861,526 |
Balance | ¥ 8,592 | $ 1,326 | ¥ 8,563 | ¥ 7,624 |
Additional Paid-in Capital [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | 2,601,401 | 2,329,962 | 2,284,906 | |
Balance as of December 31, 2015 in US$ (in Dollars) | 2,601,401 | 378,870 | 2,329,962 | 2,284,906 |
Issue new shares to employees | 256,563 | |||
Exercise of share options | (4,787) | 3,172 | ||
Share-based compensation | 17,653 | 23,598 | 45,317 | |
Acquisition of additional interest in a subsidiary | 160,023 | 11,894 | ||
Balance | 2,454,244 | $ 378,870 | 2,601,401 | 2,329,962 |
Treasury Stock [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Repurchase of ordinary shares | ¥ (6,276) | |||
Exercise of share options (in Shares) | shares | 2,261,100 | 2,261,100 | ||
Exercise of share options | ¥ 6,276 | |||
Retained Earnings [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | 764,963 | 618,885 | 527,542 | |
Balance as of December 31, 2015 in US$ (in Dollars) | 764,963 | $ 134,514 | 618,885 | 527,542 |
Net income | 210,086 | 161,760 | 95,643 | |
Balance | 871,356 | 134,514 | 764,963 | 618,885 |
AOCI Attributable to Parent [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | (105,106) | (111,114) | (104,132) | |
Balance as of December 31, 2015 in US$ (in Dollars) | (105,106) | (7,726) | (111,114) | (104,132) |
Foreign currency translation | 17,491 | 6,008 | (6,982) | |
Share of other comprehensive income in affiliates | 37,567 | |||
Balance | (50,048) | (7,726) | (105,106) | (111,114) |
Subscription Receivables [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | (257,491) | |||
Balance as of December 31, 2015 in US$ (in Dollars) | (257,491) | (41,500) | (257,491) | |
Issue new shares to employees | (257,491) | |||
Foreign currency translation | (11,338) | |||
Balance | ¥ (268,829) | $ (41,500) | (257,491) | |
Parent Company [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance (in Shares) | shares | 1,150,565,906 | 1,150,565,906 | ||
Balance | ¥ 3,210,752 | 3,028,097 | 2,894,380 | |
Balance as of December 31, 2015 in US$ (in Dollars) | 3,210,752 | $ 512,123 | 3,028,097 | 2,894,380 |
Net income | 210,086 | 161,760 | 95,643 | |
Foreign currency translation | 6,153 | 949 | 6,008 | (6,982) |
Repurchase of ordinary shares | (6,276) | (969) | ||
Exercise of share options | 1,518 | 3,183 | ||
Share-based compensation | 17,653 | 23,598 | 44,904 | |
Acquisition of additional interest in a subsidiary | (160,023) | |||
Share of other comprehensive income in affiliates | ¥ 37,567 | $ 5,799 | ||
Other | ¥ (11,894) | 152 | ||
Balance (in Shares) | shares | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 | |
Balance | ¥ 3,317,430 | $ 512,123 | ¥ 3,210,752 | ¥ 3,028,097 |
Parent Company [Member] | Common Stock [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance (in Shares) | shares | 1,150,565,906 | 1,150,565,906 | 998,861,526 | 998,861,526 |
Balance | ¥ 8,563 | ¥ 7,624 | ¥ 7,624 | |
Balance as of December 31, 2015 in US$ (in Dollars) | ¥ 8,563 | $ 1,326 | ¥ 7,624 | ¥ 7,624 |
Issue new shares to employees (in Shares) | shares | 150,000,000 | |||
Issue new shares to employees | ¥ 928 | |||
Exercise of share options (in Shares) | shares | 4,493,620 | 4,493,620 | 1,704,380 | |
Exercise of share options | ¥ 29 | ¥ 11 | ||
Balance (in Shares) | shares | 1,155,059,526 | 1,155,059,526 | 1,150,565,906 | 998,861,526 |
Balance | ¥ 8,592 | $ 1,326 | ¥ 8,563 | ¥ 7,624 |
Parent Company [Member] | Additional Paid-in Capital [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | 2,601,401 | 2,329,962 | 2,284,906 | |
Balance as of December 31, 2015 in US$ (in Dollars) | 2,601,401 | 378,870 | 2,329,962 | 2,284,906 |
Issue new shares to employees | 256,563 | |||
Exercise of share options | (4,787) | 3,172 | ||
Share-based compensation | 17,653 | 23,598 | 44,904 | |
Acquisition of additional interest in a subsidiary | (160,023) | |||
Other | (11,894) | 152 | ||
Balance | ¥ 2,454,244 | $ 378,870 | 2,601,401 | 2,329,962 |
Parent Company [Member] | Treasury Stock [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Repurchase of ordinary shares (in Shares) | shares | (2,261,100) | (2,261,100) | ||
Repurchase of ordinary shares | ¥ (6,276) | |||
Exercise of share options (in Shares) | shares | 2,261,100 | 2,261,100 | ||
Exercise of share options | ¥ 6,276 | |||
Parent Company [Member] | Retained Earnings [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | 963,385 | 801,625 | 705,982 | |
Balance as of December 31, 2015 in US$ (in Dollars) | 963,385 | $ 181,153 | 801,625 | 705,982 |
Net income | 210,086 | 161,760 | 95,643 | |
Balance | 1,173,471 | 181,153 | 963,385 | 801,625 |
Parent Company [Member] | AOCI Attributable to Parent [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | (105,106) | (111,114) | (104,132) | |
Balance as of December 31, 2015 in US$ (in Dollars) | (105,106) | (7,726) | (111,114) | (104,132) |
Foreign currency translation | 17,491 | 6,008 | (6,982) | |
Share of other comprehensive income in affiliates | 37,567 | |||
Balance | (50,048) | (7,726) | (105,106) | ¥ (111,114) |
Parent Company [Member] | Subscription Receivables [Member] | ||||
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Shareholders’ Equity [Line Items] | ||||
Balance | (257,491) | |||
Balance as of December 31, 2015 in US$ (in Dollars) | (257,491) | (41,500) | (257,491) | |
Issue new shares to employees | (257,491) | |||
Foreign currency translation | (11,338) | |||
Balance | ¥ (268,829) | $ (41,500) | ¥ (257,491) |
Schedule 1 - Condensed Finan113
Schedule 1 - Condensed Financial Statements of the Company (Details) - Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
OPERATING ACTIVITIES | ||||
Net income | ¥ 210,086 | $ 32,432 | ¥ 161,760 | ¥ 95,643 |
Adjustments to reconcile net income to net cash generated from (used in) operating activities: | ||||
Compensation expenses associated with stock options | 17,653 | 2,725 | 23,598 | 45,317 |
Changes in operating assets and liabilities: | ||||
Other receivables | 7,222 | 1,115 | 14,700 | 16,710 |
Net cash generated from (used in) operating activities | 281,304 | 43,426 | 261,649 | 185,945 |
Cash flows from investing activities | ||||
Net cash generated from (used in) investing activities | (1,131,551) | (174,681) | (445,395) | (419,308) |
Cash flows from financing activities: | ||||
Proceeds on exercise of stock options | 1,518 | 234 | 3,183 | |
Repurchase ordinary shares | (6,276) | (969) | ||
Net cash generated from (used in) financing activities | (143,708) | (22,185) | (7,817) | 3,350 |
Net increase (decrease) in cash and cash equivalents | (993,955) | (153,440) | (191,563) | (230,013) |
Cash and cash equivalents at beginning of year | 2,103,068 | 324,658 | 2,288,623 | 2,525,618 |
Effect of exchange rate changes on cash and cash equivalents | 6,153 | 949 | 6,008 | (6,982) |
Cash and cash equivalents at end of year | 1,115,266 | 172,167 | 2,103,068 | 2,288,623 |
Parent Company [Member] | ||||
OPERATING ACTIVITIES | ||||
Net income | 210,086 | 32,432 | 161,760 | 95,643 |
Adjustments to reconcile net income to net cash generated from (used in) operating activities: | ||||
Equity in earnings of subsidiaries | (214,012) | (33,038) | (180,487) | (139,429) |
Compensation expenses associated with stock options | 17,653 | 2,725 | 23,598 | 44,904 |
Changes in operating assets and liabilities: | ||||
Other receivables | (213,510) | (32,959) | 39,810 | 1,212 |
Other payables | 1,879 | 291 | (42,379) | (582) |
Net cash generated from (used in) operating activities | (197,904) | (30,549) | 2,302 | 2,161 |
Cash flows from investing activities | ||||
(Increase) decrease in investment in subsidiaries | 55,363 | 8,546 | 29,853 | (34,102) |
Advances from (to) subsidiaries | 136,788 | 21,116 | (43,110) | 37,337 |
Disposal of subsidiaries | (1,532) | |||
Net cash generated from (used in) investing activities | 192,151 | 29,662 | (13,257) | 1,703 |
Cash flows from financing activities: | ||||
Proceeds on exercise of stock options | 1,518 | 234 | 3,183 | |
Repurchase ordinary shares | (6,276) | (969) | ||
Net cash generated from (used in) financing activities | (4,758) | (735) | 3,183 | |
Net increase (decrease) in cash and cash equivalents | (10,511) | (1,622) | (7,772) | 3,864 |
Cash and cash equivalents at beginning of year | 9,707 | 1,499 | 11,471 | 14,589 |
Effect of exchange rate changes on cash and cash equivalents | 6,153 | 949 | 6,008 | (6,982) |
Cash and cash equivalents at end of year | ¥ 5,349 | $ 826 | ¥ 9,707 | ¥ 11,471 |