CONDENSED FINANCIAL INFORMATION OF THE COMPANY

12 Months Ended

Dec. 31, 2019

Disclosure of condensed financial information of company [Abstract]

CONDENSED FINANCIAL INFORMATION OF THE COMPANY

23.

CONDENSED FINANCIAL INFORMATION OF THE COMPANY

The following is the condensed financial information of the Company on a non-consolidated basis:

CONDENSED STATEMENTS OF FINANCIAL POSITION

	December 31,
	2018			2019			2019
	CNY			CNY			US$
ASSETS
NON-CURRENT ASSETS
Investments in subsidiaries		—			—			—
CURRENT ASSETS
Amounts due from subsidiaries		13,925			15,816			2,272
Cash and cash equivalents		4,122			811			116
TOTAL CURRENT ASSETS		18,047			16,627			2,388
TOTAL ASSETS		18,047			16,627			2,388
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Other payables and accrued liabilities		943			1,462			210
Due to the Shareholder		6,973			7,097			1,019
TOTAL CURRENT LIABILITIES		7,916			8,559			1,229
TOTAL LIABILITIES		7,916			8,559			1,229
EQUITY
Issued capital		290,179			290,179			41,673
Other capital reserves		823,581			823,581			118,276
Accumulated losses		(1,091,633	)		(1,095,446	)		(157,319	)
Other comprehensive loss		(11,996	)		(10,246	)		(1,471	)
TOTAL EQUITY		10,131			8,068			1,159
TOTAL LIABILITIES AND EQUITY		18,047			16,627			2,388

CONDENSED STATEMENTS OF PROFIT OR LOSS

	December 31,
	2017			2018			2019			2019
	CNY			CNY			CNY			US$
Administrative expenses		(5,055	)		(3,794	)		(3,814	)		(548	)
Gain on disposal of a subsidiary		7,114			—			—			—
Interest income		—			—			1			—
Profit/(loss) before income tax		2,059			(3,794	)		(3,813	)		(548	)
Profit/(loss) for the year		2,059			(3,794	)		(3,813	)		(548	)

CONDENSED STATEMENTS OF CASH FLOWS

	December 31,
	2017			2018			2019			2019
	CNY			CNY			CNY			US$
Net cash flows used in operating activities		(3,647	)		(5,200	)		(3,294	)		(473	)
Net cash flows from/(used in) investing activities		7,808			10,243			(21	)		(3	)
Net cash flows used in financing activities		—			(15,811	)		—			—
NET INCREASE IN CASH		4,161			(10,768	)		(3,315	)		(476	)
CASH AT BEGINNING OF THE YEAR		10,678			13,912			4,122			591
Net foreign exchange differences		(927	)		978			4			1
CASH AT END OF THE YEAR		13,912			4,122			811			116

The above financial statements have been provided pursuant to the requirements of Rule 12-04(a) and 4-08(e)(3) of Regulation S-X, which require condensed financial information as to the financial position, results of operations and cash flows of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of the consolidated and unconsolidated subsidiaries and the parent's equity in the undistributed earnings of 50 percent or less owned persons, accounted for by the equity method, together exceed 25 percent of the consolidated net assets as of the end of the most recently completed fiscal year. As of December 31, 2019, CNY13.70 million (US$1.97 million) of the restricted capital and reserves were not available for distribution, and therefore, the condensed financial information of the Company has been presented for the years ended December 31, 2017, 2018 and 2019.

In the parent-company-only financial statements, the Company's investments in subsidiaries are stated at cost. The parent-company-only financial statements should be read in conjunction with the Company's consolidated financial statements.

The Company does not have any significant commitments or long-term obligations as of any of the years presented, except for those disclosed in the consolidated financial statements.

During the years ended December 31, 2017, 2018 and 2019, no cash dividends were declared and paid by the Company.