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Series A Convertible Redeemable Preferred Share (Tables)
12 Months Ended
Dec. 31, 2012
Series A Convertible Redeemable Preferred Share [Abstract]  
Changes of Series A convertible redeemable preferred shares

The following table sets forth the changes of Series A Preferred Shares:

 

 

 

2010

 

2011

 

2012

 

2012

 

 

 

RMB

 

RMB

 

RMB

 

US$

 

Balance at the beginning of the period

 

183,774

 

390,183

 

 

 

Accretion of redemption feature

 

206,409

 

773,623

 

 

 

Conversion to ordinary share upon IPO

 

 

(1,163,806

)

 

 

Balance at the end of the period

 

390,183

 

 

 

 

Determine fair values of Series A Preferred shares, valuation assumptions [Table Text Block]

The Company engaged an independent valuation specialist to assist them in determining the fair values of the Series A Preferred Shares which were estimated as of the date of issuance and at each financial statements reporting dates before conversion into ordinary shares upon the completion of the Company’s IPO using the following assumptions:

 

 

 

December 31, 2009

 

December 31, 2010

 

Risk-free interest rate

 

2.91

%

3.15

%

Volatility rate

 

56.41

%

55.26

%

Dividend yield

 

 

 

Discount rate

 

22.97

%

20.43

%