| 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. In May 2016, no May 2016. (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 reported period. The Company's management based their estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not (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 statements of financial position, "premiums" are receivables from the insureds of RMB3,750 RMB9,553 US$1,468 December 31, 2016 2017, RMB28,246 RMB65,734 US$10,103 December 31, 2016 2017, (d) Short Term Investments Short term investments are mainly available-for-sale investments in debt securities that do not 2 No December 31, 2015, 2016 2017. (e) Accounts Receivable and Insurance Premium Receivables Accounts receivable are recorded at the invoiced amount and do not 90 Accounts receivable, net is analyzed as follows: As of December 31, 2016 2017 RMB RMB Accounts receivable 518,596 535,392 Allowance for doubtful accounts (16,792 ) (20,198 ) Accounts receivable, net 501,804 515,194 The following table summarizes the movement of the Group's allowance for doubtful accounts for accounts receivables: 2015 2016 2017 RMB RMB RMB Balance at the beginning of the year 16,587 13,246 16,792 Provision for doubtful accounts 4,991 3,700 14,052 Write-offs (8,332 ) (154 ) (10,646 ) Balance at the end of the year 13,246 16,792 20,198 The following table summarizes the movement of the Group's allowance for doubtful accounts for other receivables: 2015 2016 2017 RMB RMB RMB Balance at the beginning of the year 1,437 4,043 2,724 Provision for doubtful accounts 2,606 — — Write-offs — (1,319) (2,724) Balance at the end of the year 4,043 2,724 — Insurance premium receivables consist of insurance premiums to be collected from the insured, and are recorded at the invoiced amount and do not (f) Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation and amortization are calculated using the straight-line method over the following estimated useful lives, taking into account residual value: Estimated useful Estimated residual 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 statements of income and comprehensive income: 2015 2016 2017 RMB RMB RMB Commission and fees under operating costs 2,056 185 43 Selling expenses 1,180 1,590 2,775 General and administrative expenses 15,147 11,717 11,281 Depreciation for the year 18,383 13,492 14,099 (g) Goodwill and Other Intangible Assets Goodwill and amortization of intangible assets Goodwill represents the excess of costs over fair value of net assets of businesses acquired in a business combination. Goodwill is not two December 31, 2017. two 1 may 2 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 In 2015, 2016 2017, one two 2 two not December 31, 2015, 2016 2017. 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 intangible assets categorized as customer relationships are computed using the accelerated method, while amortization for other identifiable intangible assets are computed using the straight-line method over the intangible assets' economic lives. Intangible assets with indefinite economic lives are not not Separately identifiable intangible assets consist of brand names, trade names, customer relationships, non-compete agreements, agency agreement and licenses, and software and systems. The intangible assets, net consisted of the following: As of December 31, 2016 Useful life Cost Accumulated Accumulated Net carrying RMB RMB RMB RMB Brand name Indefinite 20,111 — (16,404 ) 3,707 Trade name 9.4 to 10 8,898 (5,750 ) — 3,148 Customer relationship 4.6 to 9.8 60,696 (53,324 ) (2,953 ) 4,419 Non-compete agreement 3 to 6.25 52,195 (22,539 ) (29,515 ) 141 Agency agreement and license 4.6 to 9.8 19,924 (16,790 ) (77 ) 3,057 Software and system 2 to 10 65,680 (20,680 ) — 45,000 227,504 (119,083 ) (48,949 ) 59,472 As of December 31, 2017 Useful life Cost Accumulated Accumulated Net carrying RMB RMB RMB RMB Brand name Indefinite 16,404 — (16,404 ) — Trade name 9.4 to 10 8,898 (6,688 ) — 2,210 Customer relationship 4.6 to 9.8 48,306 (45,353 ) (2,953 ) — Non-compete agreement 3 to 6.25 50,925 (21,410 ) (29,515 ) — Agency agreement and license 4.6 to 9.8 14,535 (14,458 ) (77 ) — Software and system 2 to 10 65,680 (50,680 ) — 15,000 204,748 (138,589 ) (48,949 ) 17,210 Aggregate amortization expenses for intangible assets were RMB11,571, RMB20,232 RMB33,177 December 31, 2015, 2016 2017, 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 may December 31, 2015, 2016 2017, no Impairment of indefinite-lived intangible assets An intangible asset that is not not third December 31, 2015, 2016 2017, no The estimated amortization expenses for the next five RMB15,942 2018, RMB942 2019, RMB278 2020, RMB48 2021 nil 2022. (h) Other Receivables and Other Current Assets Other receivables and other current assets mainly consist of loans and amounts due from third 4 (i) Investment in Affiliates Affiliated companies are entities over which the Group has significant influence, but which it does not 20% not (j) Other Non-current Assets Other non-current assets mainly represent investments in equity security of private companies which the group owns equity interest of less than 20%, no (k) Impairment of Long-Lived Assets Property, plant, and equipment, and purchased intangible assets with definite lives, subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not (l) Insurance Premium Payables Insurance premium payables are insurance premiums collected on behalf of insurance companies but not (m) Subscription Receivables The Group entered into share purchase agreements with companies established on behalf of its employees (the "Employee Companies") for the issuance of 100,000,000 US$0.27 50,000,000 US$0.29 2014. 20 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 3.0% two 12 no December 17, 2016, June 2018 3.0% According to FASB ASC 505 10 45, December 31, 2016 2017. 2017, RMB22,187 US$3,272 RMB1,331 US$196 (n) Treasury shares Treasury shares represent ordinary shares repurchased by the Group that are no During the year ended December 31, 2015, 2,261,100 RMB6,276. December 31, 2015, no December 31, 2016 2017. (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 basis 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 not The Group presents an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the statements of financial position as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not not not In November 2015, 2015 17, 2015 17 2016. December 31, 2016 2017 11. (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 statements 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 no not No not Share-based compensation expenses of RMB17,653, RMB4,937 nil December 31, 2015, 2016 2017, (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 (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 not not not 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 0.2%, 0.2% 0.2% December 31, 2015, 2016 2017, may 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 not The Group presents revenue net of sales taxes incurred. The sales taxes amounted to RMB157,234, RMB81,890 RMB25,239 December 31, 2015, 2016 2017, July 2012, September 1, 2012 November 1, 2012 August 1, 2013. In March 2016, fourth 12th [2016] No. 36 May 1, 2016. Total Value-added taxes paid by the Group during the years ended December 31, 2015, 2016 2017 RMB16,370 RMB160,556 RMB157,607, (s) Marketing campaign expense The Group records its marketing campaign expenses as selling expenses. Marketing campaign expenses are incurred to increase the Group's market share and attract more agents in certain selected regions where the Group strategically plans to capture higher market shares. These costs are not one three December 31, 2015, 2016 2017, RMB19,503, RMB299,885 Nil 2015 2016, no 2017. (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 may 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 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 and other payables, 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, 2016 2017, Fair Value Measurements at Reporting Date Using Description As of December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) RMB RMB RMB RMB Short-term investments - debt security 2,797,842 — 2,797,842 — Fair Value Measurements at Reporting Date Using Description As of December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) RMB RMB RMB RMB Short-term investments - debt security 2,498,730 — 2,498,730 — The majority of debt security consists of investments in trust products and asset management plans that normally pay a prospective fixed rate of return. These investments are recorded at fair values 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 As described in Note 3, third 825, first two October 31, 2017, 22,000. not 22,000 December 31, 2017. 3 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 may not Goodwill (Note 6 2 3 (u) 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 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. (v) Foreign Currency Risk The RMB is not RMB253,725 RMB266,392 December 31, 2016 2017, (w) Translation into USD The consolidated financial statements of the Group are stated in RMB. Translations of amounts from RMB into USD are solely for the convenience of the readers and were calculated at the rate of US$1.00 RMB6.5063, December 29, 2017, 2017, H.10 not ( x Discontinued Operations Under ASC 205 20 may 1 2 3 In November 2017, 3 (y) Segment Reporting As of December 31, 2016, three 1 2 3 three two 2017 3. December 31, 2017. 21. Substantially all revenues of the Group are derived in the PRC and all long-lived assets are located in the PRC. (z) 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. (aa) Advertising Costs Advertising costs are expensed as incurred. Advertising costs amounted to RMB5,696, RMB18,085 RMB35,741 December 31, 2015, 2016 2017, (ab) 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. (ac) 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 mainly represents foreign currency translation adjustments and share of other comprehensive income of the affiliates for the period. (ad) Recently Issued Accounting Standards Not In May 2014, 2014 09, 606 not Subsequently, the FASB issued the following various updates affecting the guidance in ASU 2014 09: 2016 08, 606 2016 10, 606 2016 12, 606 2016 20, 606, 2016 08, 2016 10, 2016 12 2016 20 2014 09 In November 2017, No. 2017 14, 220 605 606 2017 14 2017 14 No. 2017 14 No. 116 No. 33 10403 606, The new revenue standards may not 2018 January 1, 2018. no The new standard provides guidance on accounting for certain revenue-related costs including when to capitalize costs associated with obtaining and fulfilling a contract. As the Group's commission costs are incurred to obtain contracts where the renewal period is one In February 2016, No. 2016 02, 842 12 not twelve not December 15, 2018, In June 2016, 2016 13, 326 December 15, 2019. In January 2017, 2017 04, 350 two second one not not December 15, 2019. January 1, 2017. no In September 2017, No. 2017 13, 605 606 840 842 July 20, 2017 No. 2017 13 No. 2014 09 No. 2016 02. 2014 09 2016 02. |
