Property and Equipment, Net

12 Months Ended

Dec. 31, 2014

5. Property and Equipment, Net

The following is a summary of property and equipment, net:

	As of December 31,
	2013		2014
					US$ (Note 2(c))
Computers and equipment	25,307,217		43,961,251		7,085,268
Leasehold improvements	19,649,572		43,684,247		7,040,623
Furniture and fixtures	3,212,488		6,342,892		1,022,289
Software	3,537,387		11,919,553		1,921,083
Subtotal	51,706,664		105,907,943		17,069,262
Less: Accumulated depreciation	(26,855,361	)	(36,542,052	)	(5,889,510	)
Property and equipment subject to depreciation	24,851,303		69,365,891		11,179,752
Construction in progress	—		2,944,399		474,551
Total	24,851,303		72,310,290		11,654,303

Depreciation and amortization expenses for the years ended December 31, 2012, 2013 and 2014 was RMB10,111,622, RMB8,764,423 and RMB10,868,838, respectively. The construction in progress balance as of December 31, 2014 is primarily comprised of leasehold improvements relating to the additional office space at the Group’s headquarter office which is still under construction.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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