| Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
| Dec. 31, 2014 |
| Accounting Policies [Abstract] | |
| Basis of Presentation | (a) Basis of Presentation
The consolidated financial statements have been prepared in
accordance with accounting principles generally accepted in the
United States of America (“U.S. GAAP”). |
| Basis of Consolidation | (b) Basis of Consolidation
The Company consolidates all entities in which it is the primary
beneficiary of variable interests in variable interest entities and
entities in which it has a controlling financial interest. The
Company did not have a variable interest in any variable interest
entity during the periods presented.
The consolidated financial statements include the assets,
liabilities, revenue and expenses of the Company and its
consolidated subsidiaries. All intercompany balances and
transactions have been eliminated on consolidation. |
| Cash and Cash Equivalents | (c) Cash and Cash Equivalents
The Company considers cash on hand, demand deposits with banks with
original maturities of three months or less when purchased to be
cash and cash equivalents. |
| Trading Securities | (d) Trading Securities
Trading securities refer to equity securities that are bought and
held principally for the purpose of selling them in the near term,
and are reported at fair value, with unrealized gains and losses
included in earnings. The fair value of the Company’s
investments in trading securities is based on the quoted market
price on the last business day of the fiscal year. |
| Available-for-sale Securities | (e) Available-for-sale
Securities
Available-for-sale securities consist of quoted equity securities
that are not designated as trading securities. They are held at
fair value with unrealized gains and losses, net of tax, reported
in accumulated other comprehensive gain or losses. Any unrealized
losses that are deemed other-than-temporary are included in current
period earnings and removed from accumulated other comprehensive
gain or losses.
Realized gains and losses on investment securities are included in
current period earnings. For purposes of computing realized gains
and losses, the cost basis of each investment sold is generally
based on the average cost method.
The Company regularly evaluates whether the decline in fair value
of available-for-sale securities is other-than-temporary and
objective evidence of impairment could include:
• The severity and duration of the fair
value decline;
• Deterioration in the financial
condition of the issuer; and
• Evaluation of the factors that could
cause individual securities to have an other-than-temporary
impairment.
No such other-than-temporary decline in fair value was recognized
during the years ended December 31, 2013 and 2014. |
| Income Taxes | (f) Income Taxes
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 and unutilized tax
loss carry forwards 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. Current income taxes are provided in
accordance with the laws of the relevant taxing authorities.
The Company adopted ASC Topic 740, Income Taxes, which clarifies
the accounting for uncertainty in income taxes recognized in an
enterprise’s financial statements. The interpretation
prescribes a recognition threshold and measurement attribute for
the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax return. ASC Topic
740 also provides accounting guidance on de-recognition,
classification, interest and penalties, accounting in interim
periods, disclosure and transition. |
| Foreign Currencies | (g) Foreign Currencies
The functional currency of the Company and its Hong Kong domiciled
subsidiaries is Hong Kong dollars. The Company has elected Renminbi
as its reporting currency.
Foreign currency transactions are translated into the functional
currencies of the Company and its subsidiaries at the applicable
exchange rates prevailing at the dates of the transactions.
Monetary assets and liabilities denominated in foreign currencies
are translated into functional currencies using the applicable
exchange rates prevailing at the respective balance sheet dates.
Exchange differences are included in the consolidated statements of
operations.
Assets and liabilities of the Company and its subsidiaries
domiciled in Hong Kong have been translated into Renminbi at the
rates of exchange prevailing at the balance sheet dates and all
income and expense items are translated into Renminbi at the
average rates of exchange over the year. Exchange differences
resulting from the translation have been recorded as a component of
comprehensive losses.
The translation of Renminbi amounts into US$ amounts are included
solely for the convenience of readers and have been made at US$1.00
= Rmb6.2046, the noon buying rate from the Federal Reserve Bank of
New York on December 31, 2014. No representation is made that
the Renminbi amounts could have been, or could be, converted into
United States dollar at that rate or at any other rate. |
| Earnings (Loss) Per Share | (h) Earnings (Loss) Per Share
Basic earnings (loss) per share is computed by dividing net income
(loss) by the weighted-average number of common shares outstanding
during the year. The Company did not have dilutive potential common
shares during fiscal 2012, 2013 and 2014. |
| Use of Estimates | (i) Use of Estimates
The preparation of financial statements in conformity with U.S.
GAAP requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and
disclosures of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and
expenses for the years presented. Actual results may differ from
those estimates. Significant estimates in these financial
statements that are susceptible to change as more information
becomes available are collectability of receivables, impairment of
deposits paid for acquisition of investments and available-for-sale
securities, and valuation allowances for deferred tax assets. |
| Financial Instruments | (j) Financial Instruments
The Company recognizes all derivative instruments on the balance
sheet at fair value with changes in fair values reported in the
consolidated statements of operations.
The Company’s financial instruments that are exposed to
concentration of credit risk consist primarily of its cash and cash
equivalents, advances to affiliates, and amounts due from related
parties. The Company has reviewed the credit worthiness and
financial position of its related parties for credit risks
associated with amounts due from them. These entities have good
credit standing and the Company does not expect to incur
significant losses for uncollected advances from these
entities. |
| Comprehensive Income | (k) Comprehensive Income
Comprehensive income represents changes in equity resulting from
transactions and other events and circumstances from non-owner
sources. Comprehensive income consists of net income (loss) and the
foreign exchange differences arising from translation to the
reporting currency and unrealized gains and losses on
available-for-sale securities. |
| Recently Issued Accounting Pronouncements | (l) Recently Issued Accounting
Pronouncements
In April 2014, the FASB issued ASU 2014-08 “Presentation of
Financial Statements (Topic 205) and Property, Plant, and Equipment
(Topic 360)—Reporting Discontinued Operations and Disclosures
of Disposals of Components of an Entity”, which changes the
threshold for reporting discontinued operations and adds new
disclosures. The new guidance defines a discontinued operation as a
disposal that “represents a strategic shift that has (or will
have) a major effect on an entity’s operations and financial
results.” The standard is required to be adopted by public
business entities in annual periods beginning on or after
December 15, 2014, and interim periods within those annual
periods. Entities may “early adopt” the guidance for
new disposals. The Company does not expect ASU 2014-08 to have a
significant impact on its consolidated financial statements.
In May 2014, the FASB issued ASU 2014-09, “Revenue from
Contracts with Customers (Topic 606)” which clarifies and
improves the principles for recognizing revenue and develops a
common revenue standard for United States generally accepted
accounting principles (U.S. GAAP) and International Financial
Reporting Standards (IFRS) that among other things, improves
comparability of revenue recognition practices and provides more
useful information to users of financial statements through
improved disclosure requirements. The amendments in ASU 2014-09 are
effective for annual reporting periods beginning after
December 15, 2016, including interim periods within that
reporting period. Early application is not permitted. The Company
does not expect ASU 2014-09 to have a significant impact on its
revenue recognition.
In June 2014, the FASB issued ASU 2014-12,
“Compensation—Stock Compensation (Topic 718)”
which provides explicit guidance on the treatment of awards with
performance targets that could be achieved after the requisite
service period. The amendments in ASU 2014-12 are effective for
annual periods and interim periods within those annual periods
beginning after December 15, 2015. The Company does not expect
that the adoption will have a material impact on its consolidated
financial statements.
In August 2014, the FASB issued ASU 2014-15, Presentation of
Financial Statements – Going Concern. This standard requires
management to evaluate for each annual and interim reporting period
whether it is probable that the reporting entity will not be able
to meet its obligations as they become due within one year after
the date that the financial statements are issued. If the entity is
in such a position, the standard provides for certain disclosures
depending on whether or not the entity will be able to successfully
mitigate its going concern status. This guideline is effective for
annual periods ending after December 15, 2016 and interim
periods within annual periods beginning after December 15,
2016. Early application is permitted. The Company does not expect
that the adoption will have a material impact on its consolidated
financial statements.
In February 2015, the FASB issued ASU 2015-02, “Consolidation
(Topic 810)—Amendments to the Consolidation Analysis”,
which provides guidance for reporting entities that are required to
evaluate whether they should consolidate certain legal entities. In
accordance with ASU 2015-02, all legal entities are subject to
reevaluation under the revised consolidation model. ASU 2015-02 is
effective for public business entities for annual periods, and
interim periods within those annual periods, beginning after
December 15, 2015. Early adoption is permitted. The Company
does not anticipate that this adoption will have a significant
impact on its consolidated financial statements.
Other accounting standards that have been issued or proposed by the
FASB or other standards-setting bodies that do not require adoption
until a future date are not expected to have a material impact on
the Company’s consolidated financial statements upon
adoption. |
| Fair Value Measurements | Effective from January 1, 2008, the Company adopted ASC Topic
820 “Fair Value Measurement and Disclosures” for all
financial assets and liabilities and nonfinancial assets and
liabilities that are recognized or disclosed at fair value in the
consolidated financial statements on a recurring basis (at least
annually). ASC Topic 820 defines fair value as the price that would
be received to sell the asset or paid to transfer a liability (i.e.
the “exit price”) 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 Company considers the
principal or most advantageous market in which it would transact
and also considers assumptions that market participants would use
when pricing the asset or liability.
Fair Value Hierarchy
ASC Topic 820 establishes a fair value hierarchy that 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. ASC Topic 820 establishes three levels of
inputs that may be used to measure fair value:
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. |
