Concord Medical Services Holdings Ltd - 20-F filing on 2018-04-30

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2017

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION [Abstract]

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

29.

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed balance sheets

	As at December 31,
	2016		2017		2017
	RMB		RMB		US$
ASSETS
Current assets:
Cash		22,218		3,104		477
Amounts due from subsidiaries		269,270		414,692		63,737
Total current assets		291,488		417,796		64,214
Non-current assets:
Investment in subsidiaries		2,309,225		2,027,530		311,626
Deferred cost, non-current		854		800		123
Total assets		2,601,567		2,446,126		375,963
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term bank borrowings		410,963		512,221		78,727
Accrued expenses and other liabilities		34,986		16,871		2,593
Amounts due to subsidiaries		989,440		982,985		151,082
Total current liabilities		1,435,389		1,512,077		232,402

Total liabilities		1,435,389		1,512,077		232,402

Shareholders’ equity:
Ordinary shares (par value of US$0.0001 per share; authorized shares –500,000,000; issued shares –142,353,532 as of December 31,2016 and 2017; outstanding shares –130,091,977 as of December 31, 2016 and 2017)		105		105		16
Treasury stock		(8)		(8)		(1)
Additional paid-in capital		1,852,245		1,860,763		285,994
Accumulated other comprehensive loss		(87,968)		(47,418)		(7,288)
Accumulated deficit		(598,196)		(879,393)		(135,160)
Total shareholders’ equity		1,166,178		934,049		143,561
Total liabilities and shareholders’ equity		2,601,567		2,446,126		375,963

Condensed statements of comprehensive loss

	For the Years Ended December 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$
Revenues		—		—		—		—
Cost of revenues		—		—		—		—
General and administrative expenses		(21,623)		(22,843)		(24,431)		(3,755)
Selling expenses		(797)		(825)		(1,802)		(277)
Operating loss		(22,420)		(23,668)		(26,233)		(4,032)
Equity in loss of subsidiaries		(40,120)		(219,201)		(250,696)		(38,531)
Interest income		1,043		—		—		—
Interest expense		(20,619)		(19,326)		(7,554)		(1,161)
Change in fair value of derivatives		34,455		713		—		—
Loss on debt extinguishment		(36,648)		—		—		—
Foreign exchange gain		6,006		3,138		163		25
Net loss		(78,303)		(258,344)		(284,320)		(43,699)
Other comprehensive (loss) income, net of tax of nil foreign currency translation adjustments		(27,923)		(41,394)		40,550		6,232
Total other comprehensive (loss) income		(27,923)		(41,394)		40,550		6,232
Comprehensive loss		(106,226)		(299,738)		(243,770)		(37,467)

Condensed statements of cash flows

	For the Years Ended December 31,
	2015		2016		2017		2017
	RMB		RMB		RMB		US$
Net cash used in operating activities		(29,140)		(5,230)		(89,751)		(13,794)
Net cash (used in) generated from investing activities		(354,246)		785,513		(21,452)		(3,297)
Net cash generated from (used in) financing activities		196,366		(748,076)		127,106		19,535

Exchange rate effect on cash		13,663		(11,757)		(35,021)		(5,383)

Net (decrease) increase in cash		(173,357)		20,450		(19,118)		(2,939)
Cash at beginning of the year		175,125		1,768		22,218		3,415

Cash at end of the year		1,768		22,218		3,100		476

Basis of presentation

For the presentation of the parent company only condensed financial information, the Company records its investment in subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments — Equity Method and Joint Ventures. Such investment is presented on the balance sheet as “Investment in subsidiaries” and the subsidiaries profit or loss as “Equity in loss of subsidiaries” on the statements of comprehensive income (loss). The parent company only financial statements should be read in conjunction with the Company’s consolidated financial statements.