Condensed Financial Information of the Parent Company

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of the Parent Company

20. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

CONDENSED BALANCE SHEETS

	December 31,
	2015		2016
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents		136,810		57,505		8,282
Short-term investments		667,911		486,341		70,048
Prepaid expenses and other current assets		10,397		26,113		3,761
Total current assets		815,118		569,959		82,091
Non-current assets:
Other non-current assets		7,173		5,936		855
Investment in subsidiaries and VIEs		4,047,714		5,807,841		836,503
Total non-current assets		4,054,887		5,813,777		837,358
Total assets		4,870,005		6,383,736		919,449
LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities:
Accrued expenses and other payables		16,327		20,660		2,975
Due to subsidiaries		2,642		2,672		385
Total current liabilities		18,969		23,332		3,360
Total liabilities		18,969		23,332		3,360
Commitments and Contingencies
Shareholders’ equity:
Class A ordinary shares (par value of US$0.01 per share; 99,931,211,060 shares authorized; 51,230,242 and 115,297,224 shares issued and outstanding as of December 31, 2015 and 2016, respectively)		3,452		7,784		1,121
Class B ordinary shares (par value of US$0.01 per share; 68,788,940 shares authorized; 61,824,328 and nil shares issued and outstanding as of December 31, 2015 and 2016, respectively)		4,183		—		—
Additional paid-in capital		2,787,103		3,006,152		432,976
Accumulated other comprehensive income		62,753		125,009		18,005
Retained earnings		1,993,545		3,221,459		463,987
Total shareholders’ equity		4,851,036		6,360,404		916,089
Total liabilities and shareholders’ equity		4,870,005		6,383,736		919,449

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

	Year ended December 31,
	2014			2015			2016
	RMB			RMB			RMB			US$
Operating expenses:
General and administrative expenses		(9,178	)		(24,235	)		(20,533	)		(2,957	)
Operating losses		(9,178	)		(24,235	)		(20,533	)		(2,957	)
Interest income		4,973			11,526			7,492			1,079
Share of income of subsidiaries and VIEs		752,885			1,003,358			1,240,955			178,735
Income before income taxes		748,680			990,649			1,227,914			176,857
Income tax expense		—			—			—			—
Net income		748,680			990,649			1,227,914			176,857
Other comprehensive income, net of tax of nil
Foreign currency translation adjustments		3,946			56,821			62,256			8,967
Comprehensive income		752,626			1,047,470			1,290,170			185,824

CONDENSED STATEMENTS OF CASH FLOWS

	Year ended December 31,
	2014			2015			2016
	RMB			RMB			RMB			US$
Net cash used in operating activities		(8,908	)		(2,017	)		(23,846	)		(3,435	)
Net cash used in investing activities		(796,209	)		(132,976	)		(86,743	)		(12,494	)
Net cash generated from financing activities		404,754			30,200			25,420			3,661
Effect of exchange rate changes on cash and cash equivalents		3,727			7,569			5,864			845
Net decrease in cash and cash equivalents		(396,636	)		(97,224	)		(79,305	)		(11,423	)
Cash and cash equivalents at beginning of year		630,670			234,034			136,810			19,705
Cash and cash equivalents at end of year		234,034			136,810			57,505			8,282

(a) Basis of accounting

For the Company only condensed financial information, the Company records its investment in its subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323-10, Investments-Equity Method and Joint Ventures: Overall. Such investment is presented on the condensed balance sheets as “Investment in subsidiaries and VIEs” and share of their income as “Share of income of subsidiaries and VIEs” on the condensed statements of comprehensive income. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.

(b) Commitments

The Company does not have any significant commitments or long-term obligations as of any of the years presented.