Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019shares | |
Document and Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2019 |
Document Transition Report | false |
Document Shell Company Report | false |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Concord Medical Services Holdings Ltd |
Entity Central Index Key | 0001472072 |
Current Fiscal Year End Date | --12-31 |
Trading Symbol | CCM |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Accelerated Filer |
Entity Common Stock, Shares Outstanding | 130,241,995 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Current assets: | |||
Cash and cash equivalents | $ 10,674 | ¥ 74,307 | ¥ 404,742 |
Restricted cash | 0 | 0 | 421,990 |
Short-term investment | 0 | 0 | 50,000 |
Accounts receivable (net of allowance of RMB 3,585 and RMB 7,147 (US$1,027) and including amounts due from related parties amounting to RMB 5,099 and RMB Nil as of December 31, 2018 and 2019, respectively) | 10,591 | 73,731 | 86,868 |
Prepayments and other current assets (net of reserve of RMB14,798 and RMB9,013 (US$1,295) and including amounts due from related parties amounting to RMB15,572 and RMB3,833 (US$550) as of December 31, 2018 and 2019, respectively) | 13,627 | 94,868 | 227,714 |
Inventories | 624 | 4,341 | 3,356 |
Net investment in direct financing leases, current portion | 5,062 | 35,240 | 29,638 |
Assets held-for-sale | 0 | 0 | 4,384 |
Total current assets | 40,578 | 282,487 | 1,228,692 |
Non-current assets: | |||
Property, plant and equipment, net | 272,754 | 1,898,861 | 1,219,309 |
Prepaid land lease payments | 0 | 0 | 438,323 |
Right of use assets, net | 92,947 | 647,080 | 0 |
Net investment in direct financing leases, non-current portion | 3,890 | 27,084 | 42,977 |
Goodwill | 30,229 | 210,443 | 165,171 |
Intangible assets, net | 76,487 | 532,489 | 456,844 |
Deposits for non-current assets (net of reserve of RMB30,860 and RMB93,260 (US$13,396) as of December 31, 2018 and 2019) | 89,651 | 624,132 | 637,838 |
Long-term investments | 9,329 | 64,948 | 388,364 |
Other non-current assets | 1,425 | 9,921 | 7,876 |
Total non-current assets | 576,712 | 4,014,958 | 3,356,702 |
Total assets | 617,290 | 4,297,445 | 4,585,394 |
Current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB46,013 and Nil as of December 31, 2018 and 2019, respectively): | |||
Accounts payable | 1,189 | 8,275 | 5,438 |
Accrued expenses and other liabilities (including loan from related party of RMB15,985 and Nil as of December 31, 2018 and 2019, respectively) | 39,803 | 277,101 | 418,006 |
Income tax payable | 108 | 752 | 3,762 |
Dividend payable | 0 | 0 | 2,471 |
Operating lease liabilities, current | 1,851 | 12,884 | 0 |
Short-term bank and other borrowings | 41,010 | 285,500 | 396,520 |
Long-term bank and other borrowings, current portion (including loan from related party of Nil and RMB10,120(US$1,454) as of December 31, 2018 and 2019, respectively) | 6,168 | 42,939 | 44,068 |
Total current liabilities | 90,129 | 627,451 | 870,265 |
Non-current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB454,424 and Nil as of December 31, 2018 and 2019, respectively) | |||
Long-term bank and other borrowings, non-current portion | 185,550 | 1,291,763 | 497,526 |
Deferred tax liabilities | 23,764 | 165,438 | 165,646 |
Operating lease liabilities, non-current | 31,431 | 218,817 | 0 |
Mandatorily redeemable noncontrolling interest | 0 | 0 | 434,216 |
Amounts due to related parties, non-current portion | 0 | 0 | 222,518 |
Other long-term liabilities | 15,044 | 104,738 | 121,342 |
Total non-current liabilities | 255,789 | 1,780,756 | 1,441,248 |
Total liabilities | 345,918 | 2,408,207 | 2,311,513 |
Commitments and contingencies | |||
Contingently redeemable noncontrolling interest | 274,298 | 1,909,606 | 1,720,366 |
Equity (deficit): | |||
Treasury stock (12,175,155 and 12,111,537 shares as of December 31, 2018 and 2019, respectively) | (1) | (8) | (8) |
Additional paid-in capital | 252,800 | 1,759,941 | 1,758,937 |
Accumulated other comprehensive loss | (13,974) | (97,285) | (88,621) |
Accumulated deficit | (256,474) | (1,785,517) | (1,232,991) |
Total Concord Medical Services Holdings Limited shareholders' equity / (deficit) | (17,634) | (122,764) | 437,422 |
Noncontrolling interests | 14,708 | 102,396 | 116,093 |
Total equity (deficit) | (2,926) | (20,368) | 553,515 |
Total liabilities, mezzanine equity and equity (deficit) | 617,290 | 4,297,445 | 4,585,394 |
Common Class A [Member] | |||
Equity (deficit): | |||
Ordinary shares | 10 | 68 | 68 |
Common Class B [Member] | |||
Equity (deficit): | |||
Ordinary shares | $ 5 | ¥ 37 | ¥ 37 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2019CNY (¥)shares | Dec. 31, 2018CNY (¥)shares |
Accounts receivable, allowance | $ 1,027 | ¥ 7,147 | ¥ 3,585 |
Accounts receivable, due from related party | 0 | 0 | 5,099 |
Reserve for prepayments and other current assets | 1,295 | 9,013 | 14,798 |
Prepayments and other current assets, due from related party | 550 | 3,833 | 15,572 |
Reserve for deposits of non-current assets | 13,396 | 93,260 | 30,860 |
Current liabilites | 90,129 | 627,451 | 870,265 |
Accrued Expenses and Other Liabilities Related Party Current | 0 | 0 | 15,985 |
Long-term bank and other borrowings, current portion, loan from related party | 1,454 | 10,120 | 0 |
Non-current liabilities | $ (255,789) | ¥ (1,780,756) | ¥ (1,441,248) |
Treasury stock, shares | 12,111,537 | 12,111,537 | 12,175,155 |
VIE and Subsidiaries | |||
Current liabilites | $ 0 | ¥ 0 | ¥ 46,013 |
Non-current liabilities | $ 0 | ¥ 0 | ¥ 454,424 |
Common Class A [Member] | |||
Ordinary shares, par value per share | $ / shares | $ 0.0001 | ||
Ordinary shares, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 |
Ordinary shares, shares issued | 96,565,584 | 96,565,584 | 96,565,584 |
Ordinary shares, shares outstanding | 84,454,047 | 84,454,047 | 84,390,429 |
Common Class B [Member] | |||
Ordinary shares, par value per share | $ / shares | $ 0.0001 | ||
Ordinary shares, shares authorized | 45,787,948 | 45,787,948 | 45,787,948 |
Ordinary shares, shares issued | 45,787,948 | 45,787,948 | 45,787,948 |
Ordinary shares, shares outstanding | 45,787,948 | 45,787,948 | 45,787,948 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | Dec. 31, 2017CNY (¥)¥ / sharesshares | |
Revenues, net of value-added tax | $ 28,493 | ¥ 198,363 | ¥ 190,898 | ¥ 330,977 |
Equipment leasing revenues | 8,412 | 58,559 | 76,723 | 239,569 |
Revenue | 20,081 | 139,804 | 114,175 | 91,408 |
Cost of revenues | (30,767) | (214,193) | (171,136) | (232,979) |
Gross profit | (2,274) | (15,830) | 19,762 | 97,998 |
Operating expenses: | ||||
Selling expenses | (4,344) | (30,241) | (21,718) | (43,608) |
General and administrative expenses | (45,266) | (315,134) | (291,854) | (237,646) |
Impairment of long-lived assets | (10,930) | (76,089) | (5,433) | (28,600) |
Operating loss | (62,814) | (437,294) | (299,243) | (211,856) |
Interest expense (including interest expense to related party amounting to RMB31,716, RMB193 and RMB151 (US$22) for the years ended December 31, 2017, 2018 and 2019, respectively) | (4,122) | (28,700) | (46,232) | (89,959) |
Foreign exchange gain, net | 5,026 | 34,990 | 36,531 | 4,023 |
(Loss) gain on disposal of long-lived assets | (187) | (1,299) | 4,711 | (31,437) |
Interest income | 1,316 | 9,165 | 14,168 | 12,077 |
Income (loss) from equity method investments | (729) | (5,078) | (20,747) | 1,454 |
Gain on disposal of subsidiaries | 0 | 0 | 3,341 | 58,913 |
Other income, net | 5,335 | 37,138 | 34,206 | 2,890 |
Gain on disposal of an equity method investment | 0 | 0 | 48,019 | 0 |
Loss before income tax | (56,175) | (391,078) | (225,246) | (253,895) |
Income tax (expenses) benefit | 5,600 | 38,986 | (34,051) | (31,789) |
Net loss | (50,575) | (352,092) | (259,297) | (285,684) |
Net loss attributable to noncontrolling interests | (6,470) | (45,043) | (24,422) | (1,364) |
Net loss attributable to Concord Medical Services Holdings Limited | $ (44,105) | ¥ (307,049) | ¥ (234,875) | ¥ (284,320) |
Loss per share for Class A and Class B ordinary shares: | ||||
Basic and diluted | (per share) | $ (0.61) | ¥ (4.24) | ¥ (2.76) | ¥ (2.19) |
Weighted average number of class A and class B ordinary shares outstanding: | ||||
Basic and diluted | 130,238,498 | 130,238,498 | 130,104,787 | 130,091,977 |
Other comprehensive income (loss), net of tax of nil | ||||
Foreign currency translation, net tax of nil | $ (1,245) | ¥ (8,664) | ¥ (41,203) | ¥ 40,550 |
Total other comprehensive income (loss), net of tax | (1,245) | (8,664) | (41,203) | 40,550 |
Comprehensive loss | (51,820) | (360,756) | (300,500) | (245,134) |
Comprehensive income (loss) attributable to noncontrolling interests | (6,310) | (43,930) | (22,902) | 2,485 |
Comprehensive loss attributable to Concord Medical Services Holdings Limited | (45,510) | (316,826) | (277,598) | (247,619) |
Services and other revenues | ||||
Revenue | 16,809 | 117,027 | 99,117 | 91,351 |
Medicine income | ||||
Revenue | $ 3,272 | ¥ 22,777 | ¥ 15,058 | ¥ 57 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Interest expense to related party | $ 22 | ¥ 151 | ¥ 193 | ¥ 31,716 |
Services and other revenues | ||||
Revenues, net of business tax, value-added tax and related surcharges, financing lease income from related party | $ 730 | ¥ 5,081 | ¥ 9,141 | ¥ 10,695 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net loss | $ (50,575) | ¥ (352,092) | ¥ (259,297) | ¥ (285,684) |
Adjustments to reconcile net loss to net cash generated from (used in) operating activities: | ||||
Share-based compensation (note 22) | 2,958 | 20,593 | 11,139 | 11,641 |
Loss in derecognition of underlying assets at sale-type lease commencement | 3,049 | 21,229 | 0 | 0 |
Noncash lease expense | 3,758 | 26,160 | 0 | 0 |
Depreciation of property, plant and equipment (note 10) | 6,372 | 44,358 | 40,855 | 83,224 |
Amortization of intangible assets (note 13) | 1,723 | 11,995 | 4,161 | 6,229 |
Amortization of land lease payments (note 11) | 0 | 0 | 9,610 | 5,256 |
(Income)loss from equity method investments | 729 | 5,078 | 20,747 | (1,454) |
Loss/ (gains) on disposal of long-lived assets | 187 | 1,299 | (4,711) | 31,437 |
Deferred tax expense | (3,226) | (22,458) | 7,502 | 12,703 |
Allowance for doubtful accounts, net | 3,526 | 24,544 | 10,605 | 14,840 |
Impairment of long-lived assets | 10,930 | 76,089 | 5,433 | 28,600 |
Impairment of Inventories | 128 | 890 | 1,702 | 0 |
Interest and consultation expenses | 7,646 | 53,229 | 46,232 | 125,290 |
Gains on disposal of subsidiaries (note 4) | 0 | 0 | (3,341) | (58,913) |
Gains from disposal of an equity method investment (note 15) | 0 | 0 | (48,019) | 0 |
Gains from revaluation of previously held equity interests (note 4) | (4,582) | (31,898) | (28,846) | 0 |
Changes in operating assets and liabilities net of effects of acquisition and disposals: | ||||
Accounts receivable | 513 | 3,574 | 48,384 | 43,406 |
Prepayments and other current assets | 1,587 | 11,047 | (9,876) | (4,205) |
Inventories | (262) | (1,827) | 1,803 | (554) |
Other non-current assets | 267 | 1,860 | 41,081 | 7,057 |
Deposits for land use rights | 0 | 0 | 0 | (11,379) |
Accounts payable | 408 | 2,840 | 530 | 5,057 |
Accrued expenses and other liabilities | (8,754) | (60,947) | 51,879 | 11,234 |
Deferred revenue | 137 | 953 | 13,269 | 3,022 |
Income tax payable | 432 | 3,010 | 45,719 | 6,504 |
Accrued unrecognized tax benefit | (2,328) | (16,204) | 46,286 | 6,429 |
Operating lease liabilities | (1,817) | (12,649) | 0 | 0 |
Net cash generated from (used in) operating activities | (28,058) | (195,347) | (38,591) | 26,732 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchase of short-term investments | 0 | 0 | (252,250) | 0 |
Redemption of short-term investments | 7,182 | 50,000 | 202,250 | 0 |
Prepayment for operating license | 0 | 0 | 0 | (6,705) |
Investment in equity method investees | 0 | 0 | (15,000) | (97,799) |
Settlement of investment in CMCC | (15,099) | (105,119) | 0 | 0 |
Acquisitions of business, net of cash acquired | (60,409) | (420,559) | (528,740) | 0 |
Disposals of subsidiaries, net of cash disposed | 0 | 0 | 0 | 17,528 |
Acquisitions of property, plant and equipment | (33,424) | (232,691) | (165,596) | (91,260) |
Acquisitions of intangible assets | (83) | (576) | (1,779) | (749) |
Deposits for the purchases of property, plant and equipment | (67,258) | (468,234) | (598,800) | (197,843) |
Refund from deposits for the purchases of property, plant and equipment | 2,155 | 15,000 | 9,844 | 42,640 |
Proceeds from disposal of an equity method investment (note 15) | 973 | 6,779 | 212,855 | 0 |
Proceeds from disposal of property, plant and equipment | 9,959 | 69,335 | 112,955 | 38,103 |
Proceeds from disposal of intangible assets | 0 | 0 | 2,563 | 0 |
Proceeds from principal portion of direct financing leases | 2,091 | 14,558 | 9,717 | 61,904 |
Net investment in direct financing leases | 0 | 0 | 0 | (50,000) |
Cash distribution from equity method investments (note 15) | 0 | 0 | 11,626 | 6,227 |
Net cash used in investing activities | (153,913) | (1,071,507) | (1,000,355) | (313,010) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from short-term bank borrowings | 41,010 | 285,500 | 726,746 | 292,847 |
Proceeds from long-term bank and other borrowings | 134,219 | 934,406 | 472,607 | 280,459 |
Borrowings from related parties (note 24) | 0 | 174,314 | 350,969 | |
Repayment of secured borrowings | 0 | (243,268) | (81,000) | |
Refund of deposit for marketable securities | 0 | 0 | 2,156 | |
Deposit for marketable securities | 0 | 0 | (22,557) | |
Repayment of short-term bank and other borrowings | (63,607) | (442,817) | (864,251) | (317,867) |
Repayment of long-term bank and other borrowings | (36,460) | (253,828) | (504,792) | (87,387) |
Redemption of mandatorily redeemable noncontrolling interests (note 1) | 0 | 0 | (97,106) | |
Payment for interest and consultation expenses | 0 | 0 | (143,415) | |
Purchase of subsidiary shares from noncontrolling interests | (1,436) | (9,993) | (58,314) | 0 |
Capital injection from a noncontrolling interests in a subsidiary | 0 | 0 | 12,800 | |
Proceeds from issuance of contingently redeemable noncontrolling interests of a subsidiary | 0 | 1,500,000 | 0 | |
Net cash generated from financing activities | 73,726 | 513,268 | 1,203,042 | 189,899 |
Effect of foreign exchange rate changes on cash and cash equivalent and restricted cash | 166 | 1,161 | 459 | 157 |
Net (decrease) increase in cash | (108,079) | (752,425) | 164,555 | (96,222) |
Cash and cash equivalents and restricted cash at beginning of the year | 118,753 | 826,732 | 662,177 | 758,399 |
Cash and cash equivalents and restricted cash at end of the year | 10,674 | 74,307 | 826,732 | 662,177 |
Reconciliation of cash and cash equivalents and restricted cash to the consolidated balance sheets | ||||
Cash and cash equivalents | 10,674 | 74,307 | 404,742 | 98,191 |
Restricted cash, current portion | 0 | 0 | 421,990 | 563,986 |
Total cash and cash equivalents and restricted cash | 10,674 | 74,307 | 826,732 | 662,177 |
Supplemental schedule of major cash flows information: | ||||
Income tax paid | (2,480) | (17,267) | (36,559) | (21,581) |
Interest paid | (9,229) | (64,250) | (59,492) | (89,959) |
Supplemental schedule of major non-cash activities: | ||||
Acquisition of investment in Guofu Huimei through utilization of prepayment of long-term investment (note 1) | 0 | 0 | 174,000 | |
Acquisition of investment in CMCC included in accrued expense and other liabilities (note 19) | 0 | 0 | 116,939 | |
Acquisition of investment in Tianjin Jiatai Group through effective settlement in other receivables, advance to suppliers and other payables (note 4) | 98,490 | 685,669 | 0 | |
Acquisition of property, plant and equipment, construction in progress and other intangible assets through utilization of deposits | 55,871 | 388,960 | 205,816 | 4,914 |
Acquisition of property, plant and equipment, construction in progress and other intangible assets through utilization included in accrued expense and other liabilities | 4,256 | 29,632 | ¥ 22,747 | 42,067 |
Mandatorily redeemable noncontrolling interest through advance from long-term investment | $ 0 | ¥ 0 | ¥ 521,396 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY ¥ in Thousands | Ordinary shares [Member]USD ($)shares | Ordinary shares [Member]CNY (¥)shares | Treasury stock [Member]USD ($) | Treasury stock [Member]CNY (¥) | Additional paid-in capital [Member]USD ($) | Additional paid-in capital [Member]CNY (¥) | Accumulated other comprehensive loss [Member]USD ($) | Accumulated other comprehensive loss [Member]CNY (¥) | Accumulated deficit [Member]USD ($) | Accumulated deficit [Member]CNY (¥) | Noncontrolling interests [Member]USD ($) | Noncontrolling interests [Member]CNY (¥) | Contingently redeemable noncontrolling Interest [Member]USD ($) | Contingently redeemable noncontrolling Interest [Member]CNY (¥) | USD ($) | CNY (¥) |
Balance at Dec. 31, 2016 | ¥ | ¥ 105 | ¥ (8) | ¥ 1,852,245 | ¥ (87,968) | ¥ (598,196) | ¥ 65,592 | ¥ 0 | ¥ 1,231,770 | ||||||||
Balance, shares at Dec. 31, 2016 | 130,091,977 | 130,091,977 | ||||||||||||||
Net loss | $ 0 | ¥ 0 | 0 | 0 | 0 | (284,320) | (1,364) | 0 | (285,684) | |||||||
Other comprehensive income | 0 | 0 | 0 | 0 | 40,550 | 0 | 3,849 | 0 | 44,399 | |||||||
Contribution from Noncontrolling interest | 0 | 0 | 0 | 0 | 0 | 0 | 12,800 | 0 | 12,800 | |||||||
Share-based compensation | 0 | 0 | 0 | 11,641 | 0 | 0 | 0 | 0 | 11,641 | |||||||
Disposal of subsidiaries | $ 0 | 0 | 0 | 0 | 0 | 0 | (8) | 0 | (8) | |||||||
Balance at Dec. 31, 2017 | ¥ | ¥ 105 | (8) | 1,860,763 | (47,418) | (879,393) | 80,869 | 0 | 1,014,918 | ||||||||
Balance, shares at Dec. 31, 2017 | 130,091,977 | 130,091,977 | ||||||||||||||
Cumulative adjustments for changes in accounting principles | $ 0 | ¥ 0 | 0 | (3,123) | 0 | 3,123 | 0 | 0 | 0 | |||||||
Net loss | 0 | 0 | 0 | 0 | 0 | (234,875) | (24,422) | 0 | (259,297) | |||||||
Other comprehensive income | 0 | 0 | 0 | 0 | (41,203) | 0 | 1,527 | 0 | (39,676) | |||||||
Accretion of contingently redeemable noncontrolling interests | 0 | 0 | 0 | 0 | 0 | (124,355) | 3,989 | 120,366 | (120,366) | |||||||
Share-based compensation | 0 | 0 | 0 | 11,139 | 0 | 0 | 0 | 0 | 11,139 | |||||||
Contribution from contingently redeemable noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,500,000 | 0 | |||||||
Acquisition of additional shares of non-wholly owned subsidiaries | $ 0 | 0 | 0 | (35,770) | 0 | 0 | (22,545) | 0 | (58,315) | |||||||
Restricted shares vested | ¥ | ¥ 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Restricted shares vested (in shares) | 86,400 | 86,400 | ||||||||||||||
Acquisition of noncontrolling interests | $ 0 | ¥ 0 | 0 | 0 | 0 | 0 | 99,480 | 0 | 99,480 | |||||||
Modification of noncontrolling interests | $ 0 | 0 | 0 | (77,195) | 0 | 0 | (22,805) | 100,000 | (100,000) | |||||||
Balance at Dec. 31, 2018 | ¥ | ¥ 105 | (8) | 1,758,937 | (88,621) | (1,232,991) | 116,093 | 1,720,366 | 553,515 | ||||||||
Balance, shares at Dec. 31, 2018 | 130,178,377 | 130,178,377 | ||||||||||||||
Cumulative adjustments for changes in accounting principles | $ 0 | ¥ 0 | 0 | 0 | 0 | 5,632 | 0 | 0 | 5,632 | |||||||
Net loss | 0 | 0 | 0 | 0 | 0 | (307,049) | (45,043) | 0 | $ (50,575,000) | (352,092) | ||||||
Other comprehensive income | 0 | 0 | 0 | 0 | (8,664) | 0 | 1,113 | 0 | (7,551) | |||||||
Accretion of contingently redeemable noncontrolling interests | 0 | 0 | 0 | 0 | 0 | (245,477) | 56,237 | 189,240 | (189,240) | |||||||
Share-based compensation | 0 | 0 | 0 | 20,593 | 0 | 0 | 0 | 0 | 20,593 | |||||||
Contribution from contingently redeemable noncontrolling interests | 0 | 0 | 0 | 7 | 0 | 0 | 4,585 | 0 | 4,592 | |||||||
Acquisition of additional shares of non-wholly owned subsidiaries | $ 0 | 0 | 0 | (19,596) | 0 | 0 | (30,589) | 0 | (50,185) | |||||||
Restricted shares vested | ¥ | ¥ 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Restricted shares vested (in shares) | 63,618 | 63,618 | ||||||||||||||
Balance at Dec. 31, 2019 | $ 15,000 | ¥ 105 | $ (1,000) | ¥ (8) | $ 252,800,000 | ¥ 1,759,941 | $ (13,974,000) | ¥ (97,285) | $ (256,474,000) | ¥ (1,785,517) | $ 14,708,000 | ¥ 102,396 | $ 274,298,000 | ¥ 1,909,606 | $ (2,926,000) | ¥ (20,368) |
Balance, shares at Dec. 31, 2019 | 130,241,995 | 130,241,995 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BASIS OF PRESENTATION | 1. ORGANIZATION AND BASIS OF PRESENTATION The accompanying consolidated financial statements include the financial statements of Concord Medical Services Holdings Limited (the “Company”) and its subsidiaries, consolidated variable interest entity (the “VIE”) and subsidiaries of the VIE, which are collectively referred to as the “Group”. The Company was incorporated under the laws of the Cayman Islands on November 27, 2007. The Group is principally engaged in the leasing of radiotherapy and diagnostic imaging equipment, provision of management services to hospitals and provision of premium cancer and proton treatment services. (a) Details of the Company’s principle subsidiaries as of December 31, 2019 are as follows: Percentage of Date of Place of ownership by Entities establishment/acquisition establishment the Company Principal activities Subsidiaries Ascendium Group Limited (“Ascendium”) September 10, 2007 British Virgin Islands (“BVI”) 100 % Investment holding China Medical Services Holdings Limited (“CMS Holdings”) July 18, 2008 Hong Kong 100 % Investment holding King Cheers Holdings Limited (“King Cheers”) May 18, 2001 Hong Kong 100 % Investment holding Shenzhen Aohua Medical Technology Development Co., Ltd. (“Aohua Technology ”) February 21, 2008 PRC 60 % Leasing of medical equipment and provision of management services Shanghai Medstar Financial Leasing Company Limited ("Shanghai Medstar") March 21, 2003 PRC 100 % Leasing of medical equipment and provision of management services Beijing MeizhongJiahe Hospital Management Co., Ltd. (“MHM”) * July 23, 2008 PRC 60 % Provision of management services Beijing Yundu Internet Technology Co., Ltd. (“Yundu”) July 26, 2007 PRC 60 % Provision of management services Tianjin Concord Medical Technology Limited (“Tianjin Concord Medical”) April 22, 2010 PRC 100 % Leasing of medical equipment and provision of management services Guangzhou Jinkangshenyou Investment Co., Ltd. (“JKSY”) August 12, 2010 PRC 100 % Leasing of medical equipment and provision of management services Guangzhou Concord Cancer Center Co., Ltd ("Guangzhou Concord Cancer Hospital") June 29, 2011 PRC 48 % Medical treatment and service business CCM (Hong Kong) Medical Investments Limited (“CCM (HK)”) June 03, 2013 Hong Kong 100 % Investment holding Shanghai Concord Cancer Center Co., Ltd (“SHC”) March 17, 2014 PRC 60.26 % Medical treatment and service business Datong Meizhong Jiahe Cancer Center (“DTMZ”) October 23, 2014 PRC 60 % Medical treatment and service business Wuxi Concord Medical Development Ltd. ("Wuxi Concord”) December 29, 2015 PRC 100 % Provision of management services Percentage of Date of Place of ownership by Entities establishment/acquisition establishment the Company Principal activities Beijing Concord Medical Technology Ltd.(“BJCMT”) January 4, 2016 PRC 100 % Provision of management services Guofu Huimei (Tianjin) Investment Management Partnership Firm (LP) (“Guofu Huimei”) (note 4) October 8, 2018 PRC 100 % Investment holding Beijing Century Friendship Science & Technology Development Co., Ltd (“Beijing Century Friendship”) (note 4) October 8, 2018 PRC 60 % Provision of management services and investment holding Beijing Proton Medical Center Co., Ltd (“BPMC”) (note 4) October 8, 2018 PRC 58 % Medical treatment and service business Shanghai Meizhong Jiahe Cancer Center Co., Ltd. (“CMCC”) (note 4) October 8, 2018 PRC 55.42 % Medical treatment and service business Tianjin Jiatai Entity Management Limited Partnership ("Tianjin Jiatai") (note 4) November 18,2019 PRC 100 % Investment holding Shanghai Rongchi Medical Management Limited ("SH Rongchi") (note 4) November 18,2019 PRC 99.90 % Investment holding and provision of management services Oriental Light Group Limited ("Oriental") (note 4) November 18,2019 BVI 99.90 % Investment holding Shanghai Meizhong Jiahe Imaging Diagnostic Center Co., Ltd. ("SH MZJH") (note 4) November 18,2019 PRC 93.15 % Medical treatment and service business Wuxi Meizhong Jiahe Cancer Center Co., Ltd. ("Wuxi MZJH") (note 4) November 18,2019 PRC 98.93 % Medical treatment and service business Heze Meizhong Jiahe Cancer Center Co., Ltd. ("Heze MZJH") (note 4) November 18,2019 PRC 100 % Medical treatment and service business ZR ConcordHealthcare Investment Fund SP (“SP”) November 2016 Cayman Islands 99.93 % Investment holding US Proton Therapy Holdings Limited (“Proton BVI”) May 16, 2011 BVI 99.93 % Investment holding US Proton Therapy Holdings Limited (“US Proton”) June 29, 2011 United States of America 99.93 % Investment holding Concord Medical Services (International) Pte. Ltd. (“China Medstar”) (formerly known as China Medstar Pte. Limited) August 8, 2003 Singapore 99.93 % Investment holding Concord Healthcare Singapore Pte. Ltd. (“CHS”) April 1, 2015 Singapore 99.93 % Medical treatment and service business *On March 26, 2018 and July 10, 2018, the Group entered into agreements with CICC Capital Management Company Limited (“CICC Capital”), a wholly-owned subsidiary of China International Capital Corporation Limited (“CICC”), and six other investors (“Other Investors”). Pursuant to the agreements, CICC Capital and Other Investors make a strategic investment and subscribe new issued 100,000,000 shares of the Group’s subsidiary MHM, with total consideration of RMB1,500,000 . CCIC Capital subscribes 60,000,000 shares of MHM while Other Investors subscribe 40,000,000 shares of MHM. After the completion of all transactions mentioned above, the Group’s equity shares in MHM had been diluted from 85.34% to 60%. Pursuant to the agreement, CCIC Capital and Other Investors can request the Group to redeem their interests in MHM upon the occurrence of certain events (i.e. failure to complete a qualified IPO by June 30, 2025 or failure to start hospital business in Guangzhou Cancer Center Hospital and BPMC by September 30, 2021). The same right is also given to the existing noncontrolling interest shareholder. Given these events are not solely within the control of MHM, the noncontrolling interests of CCIC Capital and Other Investors are contingently redeemable noncontrolling interests and are classified as mezzanine equity. The noncontrolling interests of other existing noncontrolling interests’ holders are also reclassified from permanent equity to mezzanine equity as contingently redeemable noncontrolling interests. The Group accounts for the changes in accretion to the redemption value in accordance with ASC Topic 480, Distinguishing Liabilities from Equity. The Group elects to use the effective interest method to account for the changes of redemption value over the period from the date of issuance to the earliest redemption date of the noncontrolling interest. (b) Establishment of Onshore Fund and Offshore Fund Establishment of onshore fund In January 2016, the Group and Zhongrong Guofu Investment Management Company Limited (“ZR Guofu”) established an onshore fund, namely Guofu Huimei. The registered capital of Guofu Huimei is RMB1,009,000, of which RMB746,001and RMB262,999 were subscribed by ZR Guofu and the Group, for 73.93% and 26.07% equity interest, respectively. General partners of the Guofu Huimei are Shanghai Medstar and ZR Guofu. Further in April 2017, the Group and ZR Guofu entered into a supplemental contract to the framework agreement, pursuant to which, Guofu Huimei will be used as the platform to invest and provide loans to some domestic entities engaging in hospital business. During 2017, Guofu Huimei acquired 78.31% equity interest of Beijing Century Friendship which holds 55% equity interest of BPMC at consideration of RMB388,500, 54.8% equity interest of CMCC at consideration of RMB182,100, 28.77% equity interest of Tianjin Jiatai at consideration of RMB106,500 and established SH Rongchi with share capital of RMB695,305 with Tianjin Jiatai. The profit or loss of these domestic entities engaging in hospital business is shared proportionally among investors based on the percentage of their respective subscribed share capital. In addition, the Group’s share in Beijing Century Friendship, certain construction in progress and certain prepaid land lease payments are pledged to secure the capital contribution from ZR Guofu. Establishment of offshore fund In November 2016, the Company entered into a framework agreement with ZR Guofu to establish an offshore fund, namely SP, for the purpose of acquiring several hospital businesses of the Group, including 100% shares of CHS through China Medstar, 70% shares of Guangzhou Concord Cancer Hospital through CMS Holdings and 59.51% shares of PTC-Houston Management, LP (“PTC”) through Proton (BVI), collectively the “CCM Hospital Businesses”. ZR Guofu will provide management and consultation services on the funds and the Group will continue to manage the CCM Hospital Businesses. ZR Guofu subscribes Class A shares of SP with a consideration of RMB521,396, while the Group subscribes Class B shares of the SP using 1) creditor’s rights of RMB166,299 due from CCM Hospital Business and 2) RMB7,500 cash as consideration. Pursuant to the supplemental contract, the 75% equity interest in SP held by the ZR Guofu is contractually required to be repurchased by the Group at the end of four years from the establishment of SP in November 2016 at a consideration equivalent to the investment cost of RMB521,396. ZR Guofu is also entitled to an annual premium at 15% for its capital contribution of RMB521,396 in SP in the form of interest expense and consultation expense. The offshore fund SP was determined as a variable interest entity as the cash injection from ZR Guofu of RMB521,396 was not equity at risk. As the Company maintains the power to direct the activities that most significantly affect SP’s economic performances through supplemental contracts agreed terms and absorbs the expected losses of SP, the Company is the primary beneficiary of SP and consolidates SP and its subsidiaries under by ASC 810-10 Consolidation: Overall. The 75% equity interest held by the ZR Guofu in SP is accounted for as a liability recorded as “Mandatorily redeemable noncontrolling interests” in the Company’s consolidated balance sheets as a result of the mandatory redemption feature and is carried at the redemption value at the end of each reporting date as determined in accordance with the contract terms from the day of on which control is transferred to the Company. The 15% annual premium is accrued as an interest expense and consultation expense during each reporting period. In November 2017, ZR Guofu transferred its rights to the mandatorily redeemable noncontrolling interest in SP to Tianjin Jiatai. In December 2017, CMS Holdings redeemed the mandatory redeemable noncontrolling interest from ZR Guofu of RMB97,106 to withdraw the CCM Hospital Businesses. On November 29, 2018, the PTC business had been disposed by Proton (BVI) (note 15). As of December 31, 2018 and 2019, only CHS was retained in the CCM Hospital Businesses. Repurchase of onshore fund In June 2018, MHM entered into agreements with Guofu Huimei to purchase its 78.31% equity interests in Beijing Century Friendship which holds 55% equity interest of BPMC and 54.8% equity interest in CMCC at a consideration of RMB388,500 and RMB182,100 respectively. Meanwhile, ZR Guofu and Guofu Huimei reached an agreement pursuant to which ZR Guofu will withdraw its original investments in Guofu Huimei, amounting to RMB746,000. Therefore, MHM hold 100% equity interest of Beijing Century Friendship, 80% equity interest of BPMC and 90% equity interests of CMCC upon execution and closing of the agreement and the Group became the sole shareholder of Guofu Huimei (note 4). After the withdrawal, ZR Guofu is no longer part of the onshore fund Guofu Huimei and the domestic hospital businesses. Repurchase of offshore fund During 2019, Tianjin Jiatai made total capital injections of RMB34,540 (US$5,105) to SH MZJH, leading to an increase in Tianjin Jiatai’s holding interest from 56.77% to 78.34%.On July 22, 2019, Wuxi Concord entered into an agreement with Tianjin Jiatai, to purchase all its 90% equity interests in Wuxi MZJH at a consideration of RMB27,000. After the acquisition, Wuxi MZJH became a wholly owned subsidiary of the Group. On August 23, 2019, Wuxi Concord further injected capital of RMB82,100 to Wuxi MZJH. On November 13, 2019, Guofu Huimei entered into agreements with ZR Guofu, pursuant to which ZR Guofu would withdraw its investment of 77.18% equity interests in Tianjin Jiatai at a consideration of RMB421,730. As a result of ZR’s withdrawal, the Group became the sole shareholder of Tianjin Jiatai and its subsidiaries, SH MZJH, Heze MZJH, SH Rongchi and Oriental, including Wuxi MZJH (collectively, the “Tianjin Jiatai Group”). The transaction is accounted for as a business acquisition of Tianjin Jiatai Group by the Group (note 4). Immediately prior to the acquisition of Tianjin Jiatai Group on November 18, 2019, the rights to the mandatory redeemable to noncontrolling interest in SP held by Tianjin Jiatai amounted to RMB434,216. The mandatorily redeemable noncontrolling interest , being a preexisting relationship between the parties, was settled as a result of the business combination. Upon the completion of the acquisition and the settlement of mandatorily redeemable noncontrolling interest , SP is no longer a VIE. However, the Group continues to consolidate SP under the voting model. (c) VIE disclosures Creditors of the VIE and its subsidiaries have no recourse to the general credit of the primary beneficiaries of the VIE and its subsidiaries, and such amounts have been parenthetically presented on the face of the consolidated balance sheets. The VIE and its subsidiaries operating the hospital business are recognized in the Company’s consolidated financial statements. The Company has not provided any financial or other support that it was not previously contractually required to provide to the VIE and its subsidiaries during the periods presented. The VIE structure ceased on November 18, 2019 (note 1b). The following tables represent the financial information of the VIE and its subsidiaries as of December 31, 2018 and 2019 and for the years ended December 31, 2018 and 2019 before eliminating the intercompany balances and transactions between the VIE and its subsidiaries and other entities within the Group (the net revenue, net loss and cashflow information for the whole year 2019 instead of for the period from January 1 to November 18, 2019 was presented since the results are not materially different): As at December 31, 2018 2019 2019 RMB RMB US$ ASSETS Current assets: Cash 15,935 — — Accounts receivable 4,494 — — Inventories 1,946 — — Prepayments and other current assets 1,986 — — Amount due from inter-companies* 80,523 — — Total current assets 104,884 — — Non-current assets: Property, plant and equipment, net 281,395 — — Intangible assets, net 100 — — Long-term investments 31,496 — — Other non-current assets 464 — — Total non-current assets 313,455 — — Total assets 418,339 — — As at December 31, 2018 2019 2019 RMB RMB US$ Current liabilities: Accounts payable 462 — — Accrued expenses and other liabilities 42,681 — — Income tax payable 2,870 — — Total current liabilities 46,013 — — Non-current liabilities: Accrued unrecognized tax benefits and surcharge, non-current portion 20,208 — — Mandatorily redeemable noncontrolling interests 434,216 — — Total non-current liabilities 454,424 — — Total liabilities 500,437 — — For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net revenues 28,673 41,350 34,196 4,912 Net loss (141,188) (95,788) (114,225) (16,407) For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net cash used in operating activities (54,113) (260,884) (24,640) (3,539) Net cash generated from (used in) investing activities (5,582) 221,130 (10,107) (1,452) Net cash generated from financing activities 56,787 41,886 20,820 2,991 Exchange rate effect on cash, net 748 600 304 44 Decrease (increase) in cash and cash equivalents (2,160) 2,732 (13,623) (1,957) |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). Going Concern The Group experienced net loss of approximately RMB285,684, RMB259,297 and RMB352,092 (US$50,575) for the years ended December 31, 2017, 2018 and 2019, respectively, and net cash used in the operating activities of approximately RMB38,591 and RMB195,347 (US$28,058), respectively, for the years ended December 31, 2018 and 2019. As of December 31, 2019, the Group had net current liabilities of approximately RMB344,964 (US$49,551). When preparing the consolidated financial statements as of December 31, 2019 and for the year then ended, the Group’s management concluded that a going concern basis of preparation was appropriate after analyzing the cash flow forecast for the next twelve months which indicate that the Group will have sufficient liquidity through April 2021. In preparing the cash flow analysis, management took into account of a) the receipt of the capital injection from CITIC Industrial Investment Group Limited of RMB700,000 (US$100,549), b) the credit facilities of RMB557,400 (US$80,066) provided by a bank in the PRC, c) a financing arrangement entered into with a third-party financing company for medical equipment purchase of RMB207,000 (US$29,734). Therefore, management believed that the substantial doubt about the Group’s ability to continue as a going concern within one year after the date the financial statements are issued has been alleviated and prepared the consolidated financial statements assuming the Group will continue as a going concern. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in the Company’s financial statements include, but are not limited to, purchase price allocation, allowance for doubtful accounts, impairment of long-lived assets and goodwill, useful lives of property, plant and equipment and leases, realization of deferred tax assets, share-based compensation expenses, unrecognized tax benefits, incremental borrowing rate of right-of-use assets and related lease obligation, the valuation of the Group’s acquired equity investments and the determination of fair value of the retained investments in the subsidiary which is deemed to be disposed. Actual results could materially differ from those estimates. Principles of consolidation The consolidated financial statements of the Group include the financial statements of the Company, its subsidiaries and the VIE and its subsidiaries for which the Company or a subsidiary of the Company is the primary beneficiary. All transactions and balances between the Company, subsidiaries and VIE and its subsidiaries have been eliminated upon consolidation. Results of acquired subsidiaries and its VIE and its subsidiaries are consolidated from the date on which control is transferred to the Company. Foreign currency translation and transactions The Company’s PRC subsidiaries determine their functional currencies to be the Chinese Renminbi (“RMB”) based on the criteria of ASC 830, Foreign Currency Matters (“ASC 830”). The Group uses the RMB as its reporting currency. Generally, the Company and other subsidiaries incorporated outside PRC use their local currency as functional currency. The Company and the subsidiaries whose functional currency is not RMB use the monthly average exchange rate for the year and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively. Translation differences are recorded in accumulated other comprehensive loss, a component of shareholders’ equity. Transactions denominated in foreign currencies are remeasured into the functional currency at the exchange rates prevailing on the transaction dates. Foreign currency denominated financial assets and liabilities are remeasured at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of comprehensive loss. Accumulated other comprehensive loss represents the cumulative foreign currency translation adjustments at each balance sheet date. Convenience translation Amounts in U.S. dollars are presented for the convenience of the reader and are translated at the noon buying rate of RMB6.9618 to US$1.00 on December 31, 2019 as published on the website of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate. Comparative Information Certain items reported in the prior year's consolidated statements have been reclassified to conform with the current year's presentation to facilitate comparison. Business combination and noncontrolling interests The Group accounts for business combinations using the purchase method of accounting in accordance with ASC 805, Business Combinations . ASC 805 requires the Group to recognize separately from goodwill the assets acquired, the liabilities assumed and the noncontrolling interest at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the assets acquired and the liabilities assumed. In cases where the Group acquires less than 100% ownership interest, the Group will derive the fair value of the acquired business as a whole, which will typically include a control premium and subtract the consideration transferred by the Group for the controlling interest to identify the fair value of the noncontrolling interest. In addition, the share purchase agreements entered into may contain contingent consideration provisions obligating the Group to pay additional purchase consideration, upon the acquired business’s achievement of certain agreed upon operating performance based milestones. Under ASC 805, these contingent consideration arrangements are required to be recognized and measured at fair value at the acquisition date as either a liability or as an equity instrument, with liability instruments being required to be remeasured at each reporting period through the Company’s statements of comprehensive income (loss) until such time as to when the contingency is resolved. Where the fair value of the net assets acquired exceeds the consideration paid, a gain as a result of the bargain purchase will be recognized through the consolidated statements of comprehensive loss at the close of the transaction. The Group derives estimates of the fair value of assets acquired and liabilities assumed using reasonable assumptions based on historical experiences and on the information obtained from management of the acquired companies. Critical estimates in valuing certain of the intangible assets and pre-existing agreements included but were not limited to the following: deriving estimates of future expected cash flows from the acquired business, the determination of an appropriate discount rate, deriving assumptions regarding the period of time that the related benefits would continue and the initial measurement and recognition of any contingent consideration arrangements and the evaluation of whether contingent consideration arrangement is in substance compensation for future services. Unanticipated events may occur which may affect the accuracy or validity of such assumptions or estimates. In a business combination achieved in stages, the Group re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated income statements. For the Company's non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly, to the Company. When the noncontrolling interest is contingently redeemable upon the occurrence of a conditional event, which is not solely within the control of the Company, the noncontrolling interest is classified as mezzanine equity. The Company accretes changes in the redemption value over the period from the date that it becomes probable that the mezzanine equity will become redeemable to the earliest redemption date using the effective interest method. When the noncontrolling interest is mandatory redeemable on a fixed or determinable date, the noncontrolling interest is classified as liabilities. If a transaction does not meet the definition of a business, the transaction is recorded as an asset acquisition. Accordingly, the identifiable assets acquired and liabilities assumed are measured at the fair value of the consideration paid, based on their relative fair values at the acquisition date. Acquisition-related costs are included in the consideration paid and capitalized. Any contingent consideration payable that is dependent on the purchaser’s future activity is not included in the consideration paid until the activity requiring the payment is performed. Any resulting future amounts payable are recognized in profit or loss when incurred. No goodwill and no deferred tax asset or liability arising from the assets acquired and liabilities assumed are recognized upon the acquisition of assets. In January 2017, the FASB issued ASU No. 2017‑01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. The Group adopted ASU 2017‑01 on January 1, 2018, there is no material impact on the Group’s consolidated financial statements. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and demand deposits placed with banks which are unrestricted as to withdrawal and use and have original maturities less than three months. All highly liquid investments with a stated maturity of 90 days or less from the date of purchase are classified as cash equivalents. Restricted cash Restricted cash represents cash pledged to financial institutions as collateral for the Group’s short-term and long-term borrowings and was recorded under current and non-current on the classification of the underlying bank borrowings (note 19). Such restricted cash is not available to fund the general liquidity needs of the Group. The Group adopted Accounting Standards Update (“ASU”) No. 2016‑18, Statement of Cash Flows (Topic 230): Restricted Cash , (“ASU 2016‑18”), effective January 1, 2018 using the retrospective transition method and included all restricted cash with cash and cash equivalent when reconciling beginning-of-period and end-of-period total amounts presented in the consolidated statements of cash flows. Short-term investments All highly liquid investments with original maturities of greater than three months, but less than 12 months, are classified as short-term investments. Investments that are expected to be realized in cash during the next 12 months are also included in short-term investments. The Group accounts for debt securities in accordance with ASC Topic 320, Investments—Debt Securities (“ASC 320”). The Group classifies the short-term investments in debt securities as “held-to-maturity”, “trading” or “available-for-sale”, whose classification determines the respective accounting methods stipulated by ASC 320. Dividend and interest income, including amortization of the premium and discount arising at acquisition, for all categories of investments in securities are included in earnings. Any realized gains or losses on the sale of the short-term investments are determined on a specific identification method, and such gains and losses are reflected in earnings during the period in which gains or losses are realized. Debt investments not classified as trading or as held-to-maturity are classified as available-for-sale debt securities, which are reported at fair value, with unrealized gains and losses recorded in “Accumulated other comprehensive income”. An impairment loss on the available-for-sale debt securities is recognized in the consolidated statements of comprehensive income when the decline in value is determined to be other-than-temporary. Long-term investments The Group’s long-term investments consist of equity investments without readily determinable fair value and equity method investments. The Group adopted ASC 321, Investments-Equity Securities, (“ASC 321”) on January 1, 2018 and the cumulative effect of adopting the new standard on opening accumulated deficit was not material. Pursuant to ASC 321, equity investments, except for those accounted for under the equity method and those that result in consolidation of the investee and certain other investments, are measured at fair value, and any changes in fair value are recognized in earnings. For equity securities without readily determinable fair value and do not qualify for the existing practical expedient in ASC Topic 820, Fair Value Measurements and Disclosures , (“ASC 820”), the Group elected to use the measurement alternative to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Group makes a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the Group estimates the investment’s fair value in accordance with the principles of ASC 820. The Group recognizes an impairment loss in net income equal to the difference between the carrying value and fair value if the investment’s fair value is less than its carrying value. Investments in equity investees represent investments in entities in which the Group can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC Subtopic 323-10, Investments-Equity Method and Joint Ventures: Overall , (“ASC 323-10”). The Group applies the equity method of accounting that is consistent with ASC 323-10 in limited partnerships in which the Group holds a three percent or greater interest. Under the equity method, the Group initially records its investment at cost and prospectively recognizes its proportionate share of each equity investee’s net profit or loss into its consolidated statements of operations. The difference between the cost of the equity investee and the amount of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill included in equity method investments on the consolidated balance sheets. The Group evaluates its equity method investments for impairment under ASC 323-10. An impairment loss on the equity method investments is recognized in the consolidated statements of operations when the decline in value is determined to be other-than-temporary. Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business. In accordance with ASC Topic 350, Goodwill and Other Intangible Assets , (“ASC 350”), recorded goodwill amounts are not amortized, but rather are tested for impairment annually or more frequently if there are indicators of impairment present. In accordance with ASC 350, the Group assigned and assessed goodwill for impairment at the reporting unit level. A reporting unit is an operating segment or one level below the operating segment. As of December 31, 2018 and 2019, the Group has three reporting units, consisting of network business, overseas hospital business and domestic hospital business. Goodwill resulted from the acquisitions of subsidiaries during the years ended December 31, 2018 and 2019 was assigned to domestic hospital business reporting unit. The Group early adopted ASU No. 2017-04, Simplifying the Test for Goodwill Impairment , (“ASU 2017-04”). Under the new guidance, The Group has the option to either assess qualitative factors first to determine whether it is necessary to perform the two-step test, or the Group has an unconditional option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test by calculating the fair value of the reporting unit and comparing that value with its carrying amount, in accordance with ASC 350-20. If the Group believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than carrying amount, the two-step quantitative impairment test described above is required. Otherwise, no further testing is required. If a reporting unit’s carrying amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. For the year ended December 31, 2018, the Company elected to perform qualitative assessments on its goodwill which is entirely assigned to the domestic hospital business. The Company evaluated all relevant factors including, but not limited to, macroeconomic conditions, industry and market conditions and financial performance of the Company. The Company weighed all factors in their entirety and concluded that fair value of the reporting unit exceeds the carrying value of the reporting unit, goodwill is not impaired, and the Company is not required to perform further testing. For the year ended December 31, 2019, the Company elected to bypass the qualitative assessment and proceed directly to performing the quantitative goodwill impairment testing. The Company considered the future discounted cash flows expected to be generated by the domestic hospital business to determine the fair value of the reporting unit. The Group did not recognize any goodwill impairment for the years presented. Accounts receivable and allowance for doubtful accounts Accounts receivable are recognized and carried at the original invoiced amount less allowance for any potential uncollectible amounts.The Group considers many factors in assessing the collectability of its receivables due from its customers, such as the age of the amounts due, the customer’s payment history and credit-worthiness. An allowance for doubtful accounts is recorded in the period in which loss is determined to be probable. The Group routinely evaluates the collectability of accounts receivable of each customer on a specific identification basis. At the time when the Group becomes aware of circumstances that may impair a specific customer’s ability to meet its financial obligations, the Group records a specific allowance against amounts due, and thereby reduces the net recognized receivable to the collectible amount. Accounts receivable balances are written off after all collection efforts have been exhausted. Inventories Inventories, consisting of medicine, medical supplies and low-value consumables, are accounted for using the first-in first-out method, and are valued at the lower of cost or market. Loan receivables Loan receivables represented the loans to related parties and third parties, which were measured at amortized cost and reported in the consolidated balance sheets at outstanding principle. Loan receivables with collection period within one year are classified as prepayments and other current assets in the consolidated balance sheets. Cash paid for loan originations and cash received from loan repayments are classified as operating activities in the consolidated statements of cash flows. Leases Lessee Accounting The Group leases office space, plant and machinery, and land use rights. The Group’s offices and facility leases generally have lease terms between 1 to 18 years. The Group’s lease agreements include fixed and variable lease payments and do not contain material residual value guarantees. The Group’s leases do not contain restrictions or covenants that restrict the Group from incurring other financial obligation. The Group also makes upfront payments to acquire the leased land from the owners, with lease periods of 50 years (“land use right”). There is no ongoing payment under the terms of these land use rights. The Group determines if an arrangement is a lease at inception and classifies leases as operating or finance leases in accordance with the recognition criteria in ASC 842-20-25-2. The Group classifies a lease as a finance lease if the lease meets any one of the following criteria: a. The lease transfers ownership of the underlying asset to the lessee by the end of the lease term. b. The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise. c. The lease term is for a major part of the remaining economic life of the underlying asset. d. The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already included in the lease payments equals or exceeds substantially all of the fair value of the underlying asset. e. The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. The Group classifies a lease as an operating lease when it does not meet any one of these criteria. For operating leases, the Group recognizes a right-of-use (“ROU”) asset and a lease liability based on the present value of the lease payments over the lease term on the consolidated balance sheets at commencement date. Lease expense is recorded on a straight-line basis over the lease term. As the Group’s leases do not provide an implicit rate, the Group estimates its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. In estimating its incremental borrowing rate, the Group considers its credit rating, nature of underlying asset, and publicly available data of borrowing rates for loans of similar amount, currency and term as the lease. When the Group enters into sale-leaseback transactions as lessee, it first assesses whether the effectively transferred the underlying asset using the guidance in ASC 606. If the Group transfers the control of the leased asset to the buyer-lessor, the Group accounts for the sale of the underlying asset in accordance with ASC606. The subsequent leaseback of the asset is accounted for in accordance with ASC842 in the same manner as any other lease. If the seller-lessee does not transfer the control of the leased asset to the buyer-lessor, it is a failed sales-leaseback transaction and subsequently accounted for as a financing arrangement. Lessor Accounting The Group provides sales-type, direct financing and operating leases of various medical equipment primarily to hospitals in the PRC for periods ranging from 5 to 20 years. The Group classifies a lease as a sales-type lease in accordance with the recognition criteria in ASC 842-20-25 if the lease meets any one of the criteria mentioned above when determining a finance lease. For sales-type leases, the Group derecognizes the underlying asset and recognizes the net investment in the lease which is the sum of the lease receivable when collectability is probable at lease commencement. All initial direct costs are expensed at commencement date. The Group subsequently recognize interest income over the lease term using the effective interest method. Many of the Group’s leases contain variable lease payments based on the revenue or profit generated from the hospitals’ use of the underlying assets, the specific amounts of which are agreed monthly with the hospitals and settled based on the Group’s payment terms. In such circumstances, the Group recognizes a selling loss at commencement for the difference between the net investment in the lease and the carrying amount of the underlying asset. The Group does not include variable lease payments in the net investment in the lease and such payments are recognized as income in profit or loss in the period when the facts and circumstances on which the variable lease payments are based occur. When none of the criteria in ASC 842-20-25-2 are met, the Group classifies a lease as either a direct financing lease or an operating lease. The Group classifies as a direct financing lease if (i) the present value of the sum of lease payments and any residual value guarantee equals or exceeds substantially all the fair value of the underlying asset; and (ii) it is probable at inception that it will collect the lease payments plus any amount necessary to satisfy a residual value guarantee. If both of the criteria above are not met, the lease is classified as an operating lease. A general description of the Group’s lease income for each type of lease arrangement was as follows: i. The Group provides diagnostic imaging and/or radiation oncology system (“medical equipment”) to hospitals in the PRC through lease arrangements ranging from 5 to 20 years. In certain circumstances, the Group also provides full-time qualified system technician responsible for certain management services related to the radiotherapy or diagnostic services being performed by the hospital centers’ doctors to their patients. The Group receives a portion of the hospital’s revenue or profits from delivering the diagnostic imaging and / or radiation oncology services to patients, based on the revenue-sharing or profit-sharing formula predetermined in the contracts. The Group evaluates such arrangements at inception to determine whether they contain a lease and the lease classification under ASC 842. Most of such arrangements are classified as sales-type leases since these agreements often include an option to the hospitals to purchase the underlying asset which the hospitals are reasonably certain to exercise. Variable lease payments are fully constrained at inception of the contract. Variable fees are included in the arrangement transaction price when significant reversal is not expected to occur, which is the time when the hospital calculates the profit sharing under the arrangement and agreed upon by both parties, typically at month end. The Group’s arrangements may contain lease and non-lease components. Non-lease components primarily include payments for maintenance, update and consultation services related to the medical equipment. The Group allocates the lease and non-lease components of the contract consideration on a relative standalone selling price basis. ii. The Group elected the package of practical expedients which allowed the Group not to separate lease and non-lease components for diagnostic imaging and /or radiation oncology systems assets and recognizes profit sharing revenue under ASC 842. If there is a non-lease component whose pattern and timing is not the same the Group allocates the consideration on a relative standalone selling price basis. iii. The Group purchases hospital equipment from third party equipment manufacturers which is installed at various hospitals throughout the PRC. The hospitals utilize the hospital equipment radiotherapy or diagnostic services being performed by the hospital centers’ doctors to their patients. These lease arrangements include either title transfer upon maturity of the lease term or bargain purchase option held by the hospital. The Group receives fixed monthly rental payments from the hospital, which on a discounted basis does not give rise to any dealer profit. The Group records revenue attributable to direct financing leases so as to produce a constant rate of return on the balance of the net investment in the lease. Property, plant and equipment, net Property, plant and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Estimated residual Category Estimated useful life value Buildings 20‑50 years — Medical equipment* 5‑20 years — Electronic and office equipment 3‑5 years — Motor vehicles 5 years — Leasehold improvement and building improvement shorter of lease term or 5 years — * The cost of the asset is amortized over the estimated useful life. However, if ownership is transferred at the end of the lease term, the cost of the asset is amortized over the shorter of customer contract or the useful life of the asset which ranges from 5 to 20 years. Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterments that extends the useful lives of property, plant and equipment is capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of comprehensive loss. Costs incurred in constructing new facilities, including progress payment, interest and other costs relating to the construction are capitalized and transferred to fixed assets upon completion. During the years ended December 31, 2017, 2018 and 2019, total interest costs incurred amounted to RMB128,492, RMB101,717 and RMB110,319, (US$15,846), respectively, in which interest costs capitalized amounted to RMB38,533, RMB55,485 and RMB81,619 (US$11,724), respectively. Intangible assets, net Intangible assets are carried at cost less accumulated amortization and any recorded impairment. Intangible assets acquired in a business combination were recognized initially at fair value at the date of acquisition. The operating license relates to the medical business qualification and permission for medical equipment operation. The favorable leases relate to favorable lease terms as lessee based on market conditions that exist on the date of acquisition and are amortized over the remaining term of the leases. The customer relationship assets relate to the ability to sell existing and future services to existing customers and have been estimated using the income method. Operating leases relate to favorable operating lease terms based on market conditions that exist on the date of acquisition and are amortized over the remaining term of the leases. The estimated useful life for the intangible assets is as follows: Estimated useful life Operating license 20 years Favorable leases 12-17 years Customer relationship 5‑16 years Operating leases 9‑16 years Software 3‑5 years Impairment of long-lived assets The Group evaluates its long-lived assets or asset group including acquired intangibles with finite lives for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of a group of long-lived assets may not be fully recoverable. When these events occur, the Group evaluates the impairment by comparing the carrying amount of the assets to future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Group recognizes an impairment loss based on the excess of the carrying amount of the asset group over its fair value, generally based upon discounted cash flows or market prices. Impairment loss on long-lived assets of RMB28,600, RMB5,433 and RMB76,089 (US$10,930) was recognized for the years ended December 31, 2017, 2018 and 2019, respectively. Treasury stock The Company has share repurchase programs where the shares are acquired and subject to cancellation. Cost of the Group’s shares acquired is treated as a deduction from shareholders’ equity. Upon cancellation, any excess of purchase price over par value is charged directly to additional paid-in capital. Fair value of financial instruments Financial instruments include cash and cash equivalents, restricted cash, accounts receivable, certain other current assets, net investment in direct financing leases, short-term investment, certain other non-current assets, shor |
CONCENTRATION OF RISKS
CONCENTRATION OF RISKS | 12 Months Ended |
Dec. 31, 2019 | |
CONCENTRATION OF RISKS | |
CONCENTRATION OF RISKS | 3. CONCENTRATION OF RISKS Concentration of credit risk Assets that potentially subject the Group to significant concentration of credit risk primarily consist of cash, restricted cash, accounts receivable, advances made to suppliers, loans receivables, advance made to and receivables form disposal of medical equipment from hospital customers. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. As of December 31, 2019, substantially all of the Group’s cash and restricted cash were deposited in financial institutions located in the PRC, Hong Kong, United States of America and in Singapore, which management believes are of high credit quality. Accounts receivable are typically unsecured and are derived from network revenue earned from hospitals in PRC, as well as hospital revenue earned from patients in PRC and Singapore. The risk with respect to accounts receivable is mitigated by credit evaluations the Group performs on its customers and its ongoing monitoring of outstanding balances. Advances made to suppliers are typically unsecured and arise from deposits paid in advance for future purchases of medical equipment. Due to the Group’s concentration of advances made to a limited number of suppliers and the significant prepayments that are made to them, any negative events or deterioration in financial strength with respect to the Group’s suppliers may cause material loss to the Group and have a material adverse effect on the Group’s financial condition and results of operations. The risk with respect to advances made to suppliers is mitigated by credit evaluations that the Group performs on its suppliers prior to making any advances and the ongoing monitoring of its suppliers’ performance. With respect to advances made to and receivables form disposal of medical equipment from hospital customers hospital customers, the Group conducts periodic credit evaluation of its customers but does not require collateral or other security from its hospital customers. Concentration of customers The Group currently generates a substantial portion of its revenue from a limited number of customers. As a percentage of revenues, the top five customers accounted for 32.7% 35.0% and 34.6% for the years ended December 31, 2017, 2018 and 2019, respectively. The loss of revenue from any of these customers would have a significant negative impact on the Group’s business. However, arrangements with customers are mostly long-term in nature. Due to the Group’s dependence on a limited number of customers and the profit sharing received by the Group depends on the performance of the hospitals that the Group does not control, any negative events with respect to the Group’s customers may cause material fluctuations or declines in the Group’s revenue and have a material adverse effect on the Group’s financial condition and results of operations. Concentration of suppliers A significant portion of the Group’s medical equipment and construction is sourced from its five largest suppliers who collectively accounted for 95%, 90%and 97% of total medical equipment and construction purchases of the Group for the years ended December 31, 2017, 2018 and 2019, respectively. Failure to develop or maintain the relationships with these suppliers may cause the Group not able to identify other suppliers timely in order to expand its business with new hospitals. Any disruption in the supply of medical equipment to the Group may adversely affect the Group’s business, financial condition and results of operations. Current vulnerability due to certain other concentrations The Group’s operations may be adversely affected by significant political, economic and social uncertainties in the PRC. Although the PRC government has been pursuing economic reform policies for more than 20 years, no assurance can be given that the PRC government will continue to pursue such policies or that such policies may not be significantly altered, especially in the event of a change in leadership, social or political disruption or unforeseen circumstances affecting the PRC’s political, economic and social conditions. There is also no guarantee that the PRC government’s pursuit of economic reforms will be consistent or effective. The Group transacts most of its business in RMB, which is not freely convertible into foreign currencies. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted daily by the People’s Bank of China (the “PBOC”). However, the unification of the exchange rates does not imply that the RMB may be readily convertible into United States dollars or other foreign currencies. All foreign exchange transactions continue to take place either through the PBOC or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. Additionally, the value of the RMB is subject to changes in central government policies and international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market. A medical-related business is subject to significant restrictions under current PRC laws and regulations. Currently, the Group conducts its operations in China through contractual arrangements entered into with hospitals in the PRC. The relevant regulatory authorities may find the current contractual arrangements and businesses to be in violation of any existing or future PRC laws or regulations. If so, the relevant regulatory authorities would have broad discretion in dealing with such violations. Foreign currency exchange rate risk The Group’s exposure to foreign currency exchange rate risk primarily relates to cash and restricted cash denominated in the US$. The (appreciation) depreciation of the RMB against US$ was (6.3%), 5.7% and 1.3% during the years ended December 31, 2017, 2018 and 2019, respectively. In the long term, the RMB may appreciate or depreciate more significantly in value against the U.S. dollar or other foreign currencies, depending on the market supply and demand with reference to a basket of currencies. |
ACQUISITIONS AND DISPOSALS
ACQUISITIONS AND DISPOSALS | 12 Months Ended |
Dec. 31, 2019 | |
ACQUISITIONS AND DISPOSALS | |
ACQUISITIONS AND DISPOSALS | 4. ACQUISITIONS AND DISPOSALS For the year ended December 31, 2017 Disposal of Beijing Century Friendship and BPMC On April 6, 2017, Guofu Huimei, an equity method investee of the Group, made a capital injection of RMB388,500 in cash to Beijing Century Friendship to obtain 78.31% of its equity interest. Before the capital injection, Beijing Century Friendship was a wholly owned subsidiary of the Group and held 55% equity interest in BPMC. Upon the capital injection from Guofu Huimei, the Group’s effective interest in Beijing Century Friendship was diluted to 42.1% with a direct interest of 21.69% held by two subsidiaries of the Group and an indirect interest of 20.41% through Guofu Huimei. The Group lost control in Beijing Century Friendship and BPMC on April 6, 2017 and accounted for it as a deemed disposal and recognized a gain of RMB58,854 in accordance with ASC 810-10-40. The gain was measured as the difference between the fair value of the retained noncontrolling interest at the date of deconsolidation and the carrying amount of the former subsidiaries’ net assets. The direct interest held in Beijing Century Friendship and BPMC by the Group was accounted for as equity method investment (note 15). The carrying value of assets and liabilities of Beijing Century Friendship and BPMC as of April 6, 2017 (the date of disposal), are as follows: RMB Current assets 18,035 Deposit for operating license 109,581 Other non-current assets use 45 Current liabilities (35,152) Noncontrolling interests (8) Net assets disposed 92,501 The Group, with the assistance of an independent third-party valuation firm, determined the fair value of the retained noncontrolling interest of Beijing Century Friendship and BPMC based on a discounted cash flow model. As a result of the disposal, the Group recognized a gain on the deemed disposal of Beijing Century Friendship and BPMC as summarized below: RMB Fair value of retained noncontrolling investment 151,355 Disposition of net assets 92,501 Gain on disposal of Beijing Century Friendship and BPMC 58,854 Disposal of Allcure Medical Holdings Ltd. (BVI) (“Allcure BVI”) On October 18, 2017, the Group entered into a share transfer agreement with Bluestone Holdings Limited (“Bluestone”), a related party controlled by a director of the Company, to transfer 100% interest of a subsidiary, Allcure BVI with its subsidiary Beijing Allcure Medical Technology Ltd. at consideration of RMB3. A disposal gains of RMB59 was recognized in consolidated statements of comprehensive loss for the year ended December 31, 2017. For the year ended December 31, 2018 Acquisition of Guofu Huimei, Beijing Century Friendship, BPMC and CMCC In June 2018, MHM, a subsidiary of the Group entered into separate agreements with Guofu Huimei, an equity investee of the Group, to purchase all its 78.31% equity interests in Beijing Century Friendship which holds 55% equity interests of BPMC and 54.8% equity interests of CMCC at consideration of RMB 388,500 and RMB182,100, respectively. The consideration was paid in June 2018 and July 2018 and related commercial registration was completed on July 26, 2018 and October 8, 2018, respectively. Meanwhile, ZR Guofu and Guofu Huimei reached an agreement, according to which ZR Guofu will withdraw its original investments in Guofu Huimei, amounting to RMB746,000, then the Group became the sole shareholder of Guofu Huimei after ZR Guofu's investment withdrawn in July 2018 and commercial registration completed on September 3, 2018. The Group previously held 21.69% equity interests in Beijing Century Friendship, 25% directly interests in BPMC, 35.2% equity interests of CMCC and 26.06% equity interests of Guofu Huimei prior to the transactions mentioned above. Upon the completion of the transactions, the Group will hold 100% equity interests of Beijing Century Friendship, 55% equity interests of BPMC and 90% equity interests of CMCC through MHM, 25% equity interests of BPMC through King Cheers and 100% equity interests of Guofu Huimei through Shanghai Medstar and BJCMT. The Group account for it as a single transaction and obtained control of Guofu Huimei, Beijing Century Friendship, BPMC and CMCC on October 8, 2018. The fair value of the gross assets acquired during the acquisition is not concentrated in a single identifiable asset or a group of similar identifiable assets and it meets the definition of a business and was accounted for as business acquisition under ASC 805. The Group has completed the valuations necessary, with the assistance of an independent third-party valuation firm, to assess the fair values of the tangible and intangible assets acquired, liabilities assumed and the noncontrolling interest, resulting a goodwill was recognized as of the acquisition date. The valuation utilized generally accepted valuation methodologies including the income, market and cost approaches. The following table summarizes the estimated fair values of the assets acquired, liabilities assumed and the noncontrolling interest as of October 8, 2018, the date of acquisition: RMB Current assets 47,827 Property, plant and equipment, net 17,297 Intangible assets* 454,013 Long term investments 300,504 Other non-current assets 108,322 Deferred tax assets 185 Goodwill 165,171 Current liabilities (61,454) Non-current liability (165,436) Deferred tax liabilities (113,340) Noncontrolling interests (99,480) Total 653,609 RMB Total purchase price is comprised of: - Cash consideration 570,600 - Fair value of previously hold equity interests 520,625 - Effective extinguishment of loans from the acquisition (437,616) Total 653,609 * Acquired amortizable intangible assets primarily include two operating licenses of hospitals of RMB164,440 and RMB272,910 respectively and a favorable lease contract of RMB16,010. The operating licenses have estimated amortization periods of 20 years and the favorable lease contract has estimated amortization periods of 12 years. The following unaudited supplemental pro forma consolidated financial information for the years ended December 31, 2017 and 2018 are presented as if the acquisition had occurred at the beginning of the periods presented. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what the combined company’s operating results would have been had the acquisition taken place on January 1, 2017, nor do they project the future results of operations of the combined company. The actual results of operations of the combined company may differ significantly from the pro forma adjustments reflected here due to many factors. Unaudited Supplemental Pro Forma For the year ended December 31, 2017 2018 RMB RMB Net revenues 4,569 12,056 Net loss (70,018) (63,159) The results of operations of Guofu Huimei, Beijing Century Friendship, BPMC and CMCC since the acquisition date included in the consolidated statement of comprehensive loss of the Company for the year ended December 31, 2018 is as follows: For the Years Ended December 31, 2018 RMB Net revenues 4,827 Net loss (5,639) The aggregate purchase price allocation includes acquisition of certain acquirees, which were equity method investees of the Company prior to the acquisitions. In aggregate, a re-measurement gain relating to the Company’s pre-existing equity interest of RMB28,846 was recognized in other income in the consolidated income statement for the year ended December 31, 2018. The Company applied the equity method of accounting by recognizing its share of the profit or loss in these equity method investees up to their respective dates of acquisition. The fair value of the previously held equity interests was estimated based on the purchase price per share as of the acquisition date. The Company expects the acquisition to support its strategy to facilitate the Group’s long-term goal to develop specialized hospital chains in cancer / oncology treatment services including diagnostic imaging, radiation oncology treatment and medical oncology treatment. Goodwill arising from this acquisition was attributable to the synergies expected from the combined operations of proton hospitals, the assembled workforce and their knowledge and experience in the PRC. The goodwill recognized was not expected to be deductible for income tax purpose. Disposal of CMS Radiotherapy Holdings Limited (“CMS (USA)”) On January 25, 2016, Ascendium entered into an agreement to transfer 100% interest of CMS (USA), a BVI company previously incorporated by Ascendium in October 2013, to Beijing Allcure Medical Technology Co., Ltd. (“JWYK”), a related party, with consideration of RMB8,594. The purchase consideration was paid on November 10, 2016, while the transfer registration was completed on May 3, 2018. A gain on disposal of subsidiary of RMB3,341 was recognized in consolidated statements of comprehensive loss for the year ended December 31, 2018. For the year ended December 31, 2019 Acquisition of Tianjin Jiatai, SH Rongchi, Oriental, Heze MZJH, Wuxi MZJH and SH MZJH (“Tianjin Jiatai Group”) On July 22, 2019, Wuxi Concord entered into an agreement with Tianjin Jiatai, to purchase its 90% equity interests in Wuxi MZJH at a consideration of RMB27,000. On September 19, 2019, Guofu Huimei entered into an agreement with ZR Guofu to purchase its investment of 77.18% equity interests in Tianjin Jiatai Group at a cash consideration of RMB421,730 (US$60,578). The above transactions are entered into in conjunction of each other and therefore, are accounted for as a single transaction.On November 13, 2019, ZR Guofu signed another agreement with the Group and Tianjin Jiatai Group to withdraw from Tianjin Jiatai Group. As a result of ZR Guofu’s withdrawal, the Group became the sole shareholder of Tianjin Jiatai Group. The Group completed the related commercial registration on November 18, 2019. The Group consolidated Tianjin Jiatai Group upon the commercial registration completed. The Group expects the acquisition to support its strategy to develop specialized hospital chains in cancer and oncology treatment services, including diagnostic imaging, radiation oncology treatment and medical oncology treatment. The fair value of the gross assets acquired during the acquisition is not concentrated in a single identifiable asset or a group of similar identifiable assets and it meets the definition of a business and was accounted for as business acquisition under ASC 805. The aggregate purchase price allocation includes acquisition of certain entities which were equity method investees of the Group prior to the acquisitions and settlement of pre-existing receivables and payable between the Tianjin Jiatai Group and the Group. The Group recorded a re-measurement gain relating to its pre-existing equity interest of RMB31,898(US$4,582) as other income in the consolidated income statement for the year ended December 31, 2019. The Company applied the equity method of accounting by recognizing its share of the profit or loss in these equity method investees up to their respective dates of acquisition. The fair value of the previously held equity interests was estimated based on the purchase price per share as of the acquisition date. Further the acquisition effectively settled preexisting receivables and payables between the Group and the acquired entities. The following is a reconciliation of the total purchase consideration for the acquisition: RMB - Cash consideration 421,730 - Fair value of previously hold equity interests 407,998 - Settlement of amounts due to Tianjin Jiatai Group (including the mandatorily redeemable noncontrolling interest in SP and purchase consideration of Wuxi MZJH) (675,854) - Settlement of advance from suppliers (94,530) - Settlement of other receivables 84,715 Total 144,059 The Group, with the assistance of an independent third-party valuation firm, assessed the fair values of the acquired identifiable assets and liabilities assumed. The following table summarizes the purchase consideration and fair values of the assets acquired and liabilities assumed as of the acquisition date: RMB Current assets 9,451 Property, plant and equipment, net 53,649 Intangible assets 89,000 Goodwill 45,272 Current liabilities (31,063) Deferred tax liabilities (22,250) Total 144,059 The acquired intangible assets primarily include operating license for hospitals of RMB84,000 and a favorable lease contract of RMB5,000. The estimated amortization period of the operating licenses and favorable lease contract was 20 years and 17 years, respectively. The Group recognized RMB 45,272 (US$6,503) in goodwill arising from this acquisition, attributed to the synergies it expects from the combined operations of proton hospitals, the assembled workforce and their knowledge and experience in the PRC. The goodwill recognized is not deductible for income tax purposes. The following unaudited supplemental pro forma consolidated financial information for the years ended December 31, 2018 and 2019 are presented as if the acquisition had occurred at the beginning of the periods presented. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what the combined company’s operating results would have been had the acquisition taken place on January 1, 2018, nor do they project the future results of operations of the combined company. The actual results of operations of the combined company may differ significantly from the pro forma adjustments reflected here due to many factors. Unaudited Supplemental Pro Forma For the year ended December 31, 2018 2019 2019 RMB RMB US$ Net revenues 186,086 193,251 27,759 Net loss (376,130) (589,774) (84,716) The results of operations of Tianjin Jiatai, SH Rongchi, Oriental, Heze MZJH, SH MZJH and Wuxi MZJH since the acquisition date included in the consolidated statement of comprehensive loss of the Company for the year ended December 31, 2019 is as follows: For the Years Ended December 31, 2019 RMB US$ Net revenues 366 53 Net loss (7,902) (1,135) |
SHORT TERM INVESTMENT
SHORT TERM INVESTMENT | 12 Months Ended |
Dec. 31, 2019 | |
SHORT TERM INVESTMENT | |
SHORT TERM INVESTMENT | 5. SHORT TERM INVESTMENT Short-term investments comprised of available-for-sale debt securities including wealth management products issued by commercial banks and other financial institutions. As of December 31, 2018 and 2019, the Group held short term investment amounting to RMB50,000 and nil, respectively, with no unrealized gains or losses was recorded in “Accumulated other comprehensive loss”. There was no other-than-temporary impairment for the years ended December 31, 2018 and 2019. |
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE | 12 Months Ended |
Dec. 31, 2019 | |
ACCOUNTS RECEIVABLE | |
ACCOUNTS RECEIVABLE | 6. ACCOUNTS RECEIVABLE As at December 31, 2018 2019 2019 RMB RMB US$ Accounts receivable 90,453 80,878 11,618 Allowance for doubtful accounts (3,585) (7,147) (1,027) Accounts receivable, net 86,868 73,731 10,591 The rollforward in the allowance for doubtful accounts were as follows: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Balance at the beginning of the year 57 12,969 3,585 515 Provisions for the year 14,840 1,303 4,510 648 Reversal of provisions from prior periods due to subsequent cash collection during the year — (709) (221) (32) Amounts written off during the year (1,928) (9,989) (734) (105) Foreign exchange gain or loss — 11 7 1 Balance at the end of the year 12,969 3,585 7,147 1,027 Provisions for allowance for doubtful debts are recorded in “general and administrative expenses” in the consolidated statements of comprehensive loss. Accounts receivable with carrying value of nil and RMB30,524 (US$4,384)were used to secure certain bank borrowings as at December 31, 2018 and 2019, respectively (note 19). |
PREPAYMENTS AND OTHER CURRENT A
PREPAYMENTS AND OTHER CURRENT ASSETS | 12 Months Ended |
Dec. 31, 2019 | |
PREPAYMENTS AND OTHER CURRENT ASSETS | |
PREPAYMENTS AND OTHER CURRENT ASSETS | 7. PREPAYMENTS AND OTHER CURRENT ASSETS Prepayments and other current assets consist of the following: As at December 31, Notes 2018 2019 2019 RMB RMB US$ Due from suppliers i) 10,751 5,957 856 Due from hospitals ii) 576 406 58 Loan receivables iii) 151,139 70,077 10,066 Advances to employees iv) 1,056 4,271 614 Receivables from disposal of medical equipment v) 69,410 120 17 Deferred expenses 50 — — Interest receivable 3,680 2,891 415 Dividend receivable 766 766 110 Tax refund vi) — 14,466 2,078 Others 5,084 4,927 708 242,512 103,881 14,922 Allowance for doubtful debts (14,798) (9,013) (1,295) 227,714 94,868 13,627 The Group records allowance for doubtful debts in “general and administrative expenses” in the consolidated statements of comprehensive loss. i) Amounts due from suppliers represented prepayments made for orders and returnable deposits of cancelled orders. The risk of loss arising from non-performance by or bankruptcy of suppliers is assessed prior to the order of the equipment. The Group has provided reserve for bad debt amounting to RMB4,798 and nil on the amounts due from suppliers as at December 31, 2018 and 2019, respectively. ii) Amounts due from hospitals represented interest-free advances to hospitals and the compensation to be received from hospitals for early termination. The Group has assessed the impact of such advances on revenue recognition at the outset of the arrangement and has concluded that they do not affect revenue recognition. The risk of loss arising from any failure of hospital customers to fulfill their financial obligations is assessed prior to making the advances and is monitored for recoverability on a regular basis by management. iii) Loan receivables represented the loans to other parties, including loans to related parties such as the Xi’an JiangyuanAndike Ltd. (“JYADK”) and Beijing Allcure Medical Information Technology Co., Ltd. (“Allcure Information”) of total amount of RMB15,118 and RMB12,173 (US$1,749) as at December 31, 2018 and 2019, and third parties of RMB136,021 and RMB57,904(US$8,317) as at December 31, 2018 and 2019, respectively. The Group recorded allowance for doubtful debts amounting to RMB10,000 and RMB9,000 (US$1,293) as of December 31, 2018 and 2019, respectively. The loans contributed to interest receivable of RMB454 and RMB2,891 (US$415) as at December 31, 2018 and 2019, respectively. iv) The advances to employees represented interest-free advance held by the Group’s employees to cover expenses of hospital customers. The risk of loss is assessed prior to making the advances and is monitored on a regular basis by management. Historically, the Group has not experienced any loss of such advances. v) Receivables from disposal of medical equipment represented the consideration to be received from several hospitals, which the Group entered into termination contracts with and disposed all leasing equipment to. vi) Tax refund represented the overpayment of tax that would be refund by Internal Revenue Service. The amount has been received subsequently in February 2020. |
INVENTORIES
INVENTORIES | 12 Months Ended |
Dec. 31, 2019 | |
INVENTORIES | |
INVENTORIES | 8. INVENTORIES As at December 31, 2018 2019 2019 RMB RMB US$ Medicine 2,196 2,625 377 Medical material 90 1,728 249 Low-value consumables 1,580 1,388 199 3,866 5,741 825 Less: inventory provision (510) (1,400) (201) 3,356 4,341 624 |
ASSETS HELD FOR SALE
ASSETS HELD FOR SALE | 12 Months Ended |
Dec. 31, 2019 | |
ASSETS HELD FOR SALE | |
ASSETS HELD FOR SALE | 9. ASSETS HELD-FOR-SALE Since the Group received termination notices from several hospitals to early terminate the equipment leasing with the Group, the hospitals should acquire the medical equipment from the Group upon early termination. Assets held-for-sale, with carrying amounts of RMB4,384 and nil were recognized on the consolidated balance sheets as of December 31, 2018 and 2019 respectively, which are expected to be disposed within one year. |
PROPERTY, PLANT AND EQUIPMENT,
PROPERTY, PLANT AND EQUIPMENT, NET | 12 Months Ended |
Dec. 31, 2019 | |
PROPERTY, PLANT AND EQUIPMENT, NET | |
PROPERTY, PLANT AND EQUIPMENT, NET | 10. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consist of the following: As at December 31, 2018 2019 2019 RMB RMB US$ Buildings 254,577 277,569 39,870 Medical equipment 404,050 458,843 65,909 Electronic and office equipment 19,564 20,983 3,014 Motor vehicles 2,993 2,993 430 Leasehold improvement and building improvements 14,050 80,922 11,624 Construction in progress 823,361 1,390,495 199,732 Total 1,518,595 2,231,805 320,579 Less: accumulated depreciation (275,627) (314,151) (45,125) Impairment charges (23,659) (18,793) (2,700) 1,219,309 1,898,861 272,754 Depreciation expenses were RMB83,224, RMB40,855 and RMB44,358 (US$6,372) for the years ended December 31, 2017, 2018 and 2019, respectively. Impairment loss of RMB21,476, RMB4,418 and RMB6,453 (USD$927) were recognized for network operating segment and impairment loss of nil, RMB351 and nil for hospital operating segment for the years ended December 31, 2017, 2018 and 2019, respectively. Impairment charges mainly include impairment provided for medical equipment in several low performance centers as well as idle assets. For the years ended December 31, 2017, 2018 and 2019, impairment of RMB27,906, RMB41,272 and RMB10,968(US$1,575) was written off for network operating segment upon the disposal of medical equipment and construction project. Impairment of nil, nil and RMB353 (US$51) was written off for hospital operating segment upon the termination of construction project. The Group held equipment under operating lease contracts with customers with an original cost of RMB205,279 and RMB271,603 (US$39,013) and accumulated depreciation of RMB133,130 and RMB150,988 (US$ 21,688), as of December 31, 2018 and 2019, respectively. The total net book value of the Group's property, plant and equipment pledged as collateral for other borrowings as of December 31, 2018 and 2019 was nil and RMB119,359 (US$17,145), respectively. The total net book value of the Group's construction in progress pledged to secure bank and other borrowings as of December 31, 2018 and 2019 was RMB633,444 and RMB1,152,379(US$165,529), respectively. |
LEASE
LEASE | 12 Months Ended |
Dec. 31, 2019 | |
Lease | |
LEASE | 11. LEASE Leases of medical equipment as lessor The following table presents the lease receivables derive from the Group’s operating, sales-type and direct financing leases: As at December 31, 2018 2019 2019 RMB RMB US$ Current Account receivable - Operating lease 46,331 38,201 5,487 Account receivable - Sales-type lease — 675 97 Net investment in direct financing leases 29,638 35,240 5,062 Non-current Net investment in direct financing leases 42,977 27,084 3,890 Total 118,946 101,200 14,536 Lease receivables for operating and sales-type leases are presented in accounts receivable on the consolidated balance sheets. Lease receivables for direct financing leases are presented as net investment in direct financing leases. As of December 31, 2018, and 2019, the allowance of lease receivables was RMB2,093 and RMB4,318 (US$620), respectively. Accordingly, risk of default with respect to these receivables is remote. Lease receivables with carrying value of nil and RMB24,997 (US$3,591) were pledged as collaterals for bank and other borrowings of nil and RMB167,165 (US$24,012) as of December 31, 2018 and 2019, respectively. The following table presents the lease income recognized relating to the Group's operating, sales-type and direct financing leases: For the Year Ended December 31, 2019 Sales-type leases Direct financing Operating leases leases RMB US$ RMB US$ RMB US$ Selling loss recognized at the commencement date (21,229) (3,049) — — — — Interest income on net investment in the lease 1,130 162 3,944 — — Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease 1,130 162 — — — — Lease income relating to lease payments 53,485 7,683 Including: Income relating to variable lease payments not included in the measurement of lease receivable — — — — 45,887 6,591 The Group's lease assets do not contain material residual value by the end of the lease term. In order to mitigate the risks associated with the residual value of its leased assets, the Group usually enters into arrangements where the lease terms are approximate to the economic useful life of the leased assets so as to minimize their residual value. Net investment in direct financing leases is comprised of: As at December 31, 2018 2019 2019 RMB RMB US$ Minimum lease payments to be received 83,079 68,520 9,842 Unearned income (10,464) (6,196) (890) Net investment in direct financing leases 72,615 62,324 8,952 Current 29,638 35,240 5,062 Non-current 42,977 27,084 3,890 Total 72,615 62,324 8,952 The future minimum lease payments to be received from such non-cancelable direct financing leases are as follows: Future minimum direct financing lease payments RMB US$ 2020 39,050 5,609 2021 17,138 2,462 2022 7,446 1,070 2023 3,003 431 2024 1,883 270 Above 5 years — — The future minimum lease payments to be received from such non-cancelable operating leases are as follows: Future minimum operating lease payments RMB US$ 2020 8,972 1,289 2021 8,972 1,289 2022 7,886 1,133 2023 7,196 1,034 2024 5,496 789 Above 5 years 13,708 1,969 Lease payments for the Group’s sales-type lease payments are all variable based on the profit or revenue generated from the underlying assets thus the Group does not recognize any net investment in the lease at commencement. Failed sales-leaseback transactions as seller-lessee The Group has failed sales-leaseback transactions in which the Group acts as seller-lessee but does not effectively transfer control of the underlying asset to the buyer-lessor. The Group accounts for failed sales-leaseback transactions as financings. The Group recorded RMB30,646 (US$4,402) and RMB205,784 (US$29,559) under “Long-term bank and other borrowings, current portion” and "Long-term bank and other borrowings, non-current portion", respectively as of December 31, 2019. The effective interest rate used in the computation of interest expense ranged from 9.64% to 11.69%. Interest expenses recorded in the Group’s consolidated statement of comprehensive loss amounted to nil, RMB119 , and RMB21,644 (US$3,109) for the years ended December 31, 2017, 2018 and 2019, respectively. Operating leases as lessee The components of lease cost were as follows: For the year ended December 31, 2019 RMB US$ Operating lease cost 32,002 4,597 Short term lease cost 625 90 Total 32,627 4,687 For the year ended December 31, 2019, total operating and short-term lease costs of RMB8,203 (US$1,178) and RMB23,799 (US$3,419) were recorded in cost of revenue and general and administrative expenses, respectively. Other information For the year ended December 31, 2019 RMB US$ Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 18,491 2,656 ROU assets obtained in exchange for operating lease liabilities * 234,915 33,743 Weighted-average remaining lease terms (in years) 4 4 Weighted-average discount rate 4.87 % 4.87 % * Includes transition liabilities upon adoption of ASC 842, as well as new leases entered into during the year ended December 31, 2019. Changes in the ROU asset and liability are presented net within operating activities. Future minimum lease payments for operating leases as of December 31, 2019 are as follows: Minimum Lease Payments RMB US$ Year ending December 31, 2020 25,362 3,643 2021 24,481 3,516 2022 20,654 2,967 2023 19,996 2,872 2024 19,306 2,773 Thereafter 256,158 36,796 Total future lease payments 365,957 52,567 Less: Imputed interest 134,256 19,285 Total lease liability balance 231,701 33,282 The Group did not have any leasing transactions with related parties. Land use rights The following table presents the original cost payment, accumulated amortization and net carrying value of the Group’s land use rights for the periods presented: As at December 31, 2018 2019 2019 RMB RMB US$ Prepaid land lease payment Right-of-use asset Right-of-use asset Land use rights 456,823 456,823 65,619 Less: accumulated amortization (18,500) (27,962) (4,017) Net carrying value 438,323 428,861 61,602 As of December 31, 2018 and 2019, the Group recorded land lease payment under “Prepaid land lease payment” and “Right-of-use assets, net” of RMB438,323 and RMB428,861 (US$61,602), respectively. Amortization expenses for the years ended December 31, 2017, 2018 and 2019 were RMB5,256, RMB9,610 and RMB9,462 (US$1,359), respectively. The net book value of the Group’s land use right payments pledged to secure bank and other borrowings was RMB425,743 and RMB416,548 (US$59,833), respectively. The estimated annual amortization expenses for the land leases payment for each of the five succeeding years are as follows: Amortization RMB US$ 2020 9,462 1,359 2021 9,462 1,359 2022 9,462 1,359 2023 9,462 1,359 2024 9,462 1,359 |
GOODWILL
GOODWILL | 12 Months Ended |
Dec. 31, 2019 | |
GOODWILL | |
GOODWILL | 12. GOODWILL The goodwill of RMB165,171 and RMB210,443 (US$30,229) as of December 31, 2018 and 2019 represented the goodwill of RMB165,171 generated from the acquisition of GFMH, CMCC, SJYH and BPMC by the Group in 2018, and the goodwill of RMB45,272 generated from the acquisition of Tianjin Jiatai Group by the Group in 2019 (Note 4). The changes in the carrying amount of goodwill are as follow: For the years ended December 31, 2017 2018 2019 RMB RMB RMB US$ Balance as of January 1 — — 165,171 23,725 Addition — 165,171 45,272 6,504 Impairment — — — — Balance as of December 31 — 165,171 210,443 30,229 No impairment was recognized for the years ended December 31, 2017, 2018 and 2019. |
INTANGIBLE ASSETS, NET
INTANGIBLE ASSETS, NET | 12 Months Ended |
Dec. 31, 2019 | |
INTANGIBLE ASSETS, NET | |
INTANGIBLE ASSETS, NET | 13. INTANGIBLE ASSETS, NET Intangible assets consist of the following: Customer Operating Operating Favorable relationship lease license lease intangibles intangibles intangibles intangibles Others Total RMB RMB RMB RMB RMB RMB Intangible assets, net at January 1, 2018 6,171 306 — — 1,322 7,799 Acquisition of subsidiaries (note4) — — 437,350 16,010 653 454,013 Addition of software — — — — 1,779 1,779 Disposal of centers (2,586) — — — — (2,586) Amortization expenses (558) (52) (2,056) (318) (1,177) (4,161) Intangible assets, net at December 31, 2018 3,027 254 435,294 15,692 2,577 456,844 Acquisition of subsidiaries (note4) — — 84,000 5,000 — 89,000 Addition of software — — — — 1,579 1,579 Disposal of centers (80) (7) — — — (87) Amortization expenses (125) (217) (8,717) (1,307) (1,629) (11,995) Intangible Asset impairment (2,822) (30) — — — (2,852) Intangible assets, net at December 31, 2019 — — 510,577 19,385 2,527 532,489 Intangible assets, net at December 31, 2019, in US$ — — 73,340 2,784 363 76,487 At December 31, 2019 Intangible assets, cost 45,157 14,707 521,350 21,010 17,963 620,187 Less: accumulated amortization (41,737) (14,677) (10,773) (1,625) (15,436) (84,248) Less: intangible asset impairment (3,420) (30) — — — (3,450) Intangible assets, net at December 31, 2019 — — 510,577 19,385 2,527 532,489 i) Amortization expenses for intangibles were RMB6,229, RMB4,161 and RMB11,995 (US$1,723) for the years ended December 31, 2017, 2018 and 2019, respectively. Impairment loss on intangible assets was RMB598, RMB nil and RMB2,852 (US$410)for network operating segment in several low performance centers and early termination centers as well as idle assets for the years ended December 31, 2017, 2018 and 2019, respectively. The estimated annual amortization expenses for the above intangible assets for each of the five succeeding years are as follows: Amortization RMB US$ 2020 15,260 2,192 2021 19,358 2,781 2022 27,886 4,006 2023 27,640 3,970 2024 27,590 3,963 |
DEPOSITS FOR NON-CURRENT ASSETS
DEPOSITS FOR NON-CURRENT ASSETS | 12 Months Ended |
Dec. 31, 2019 | |
DEPOSITS FOR NON-CURRENT ASSETS | |
DEPOSITS FOR NON-CURRENT ASSETS | 14. DEPOSITS FOR NON-CURRENT ASSETS Deposits for non-current assets consist of the following: As at December 31, 2018 2019 2019 RMB RMB US$ Deposits for purchases of property, plant and equipment* 668,698 717,392 103,047 Reserve for unrecoverable deposits (30,860) (93,260) (13,396) 637,838 624,132 89,651 * The amount represented interest-free non-refundable partial payments to suppliers of medical equipment and to construction engineering group for construction of hospitals. The remaining contractual obligations associated with these purchase contracts are approximately RMB660,758 and RMB622,584 (US$89,429) as at December 31, 2018 and 2019 respectively, which are included in the amount disclosed as purchase commitments in note 26. The Group recognized impairment loss on deposits for non-current assets of nil, nil and RMB62,400 (US$8,963) for the years ended December 31, 2017, 2018 and 2019, respectively. As at December 31, 2018 and 2019, certain of the Group’s deposits for non-current assets with a total net book value of RMB13,800 and nil were pledged for other borrowings of RMB10,731 and nil, respectively (note19). |
LONG-TERM INVESTMENTS
LONG-TERM INVESTMENTS | 12 Months Ended |
Dec. 31, 2019 | |
LONG-TERM INVESTMENTS | |
LONG-TERM INVESTMENTS | 15. LONG-TERM INVESTMENTS Long-term investments held by the Group consisted of the following: As at December 31, 2018 2019 2019 RMB RMB US$ Equity investments without readily determinable fair value 22,160 22,160 3,183 Equity method investments 366,204 42,788 6,146 Less: Impairment loss — — — Total 388,364 64,948 9,329 Equity investments without readily determinable fair value: Equity interest owned by the Group As at December 31, Note 2018 2019 Allcure Information i) 9.6 % 9.6 % i) 20% equity interest of Allcure Information was obtained through the disposal of Allcure Medical Technology Co., Ltd. (“JWYK”) in 2015. During year ended December 31, 2018 Allcure Information issued new shares to other investors and diluted the share ownership of the Group to 9.6%. The price of newly issued shares is not considered an observable price change because they are not a similar investment of JWYK held by the Group due to the different rights and obligations associated with the investments. As at year ended December 31, 2019, the share ownership of the Group remained 9.6%. As of December 31, 2018 and 2019, no impairment was recorded for the investment. The Group did not record any unrealized gains (upward adjustments) and losses (downward adjustments and impairment) for equity investments without readily determinable fair values for the years presented. Equity method investments: Equity interest owned by the Group As at December 31, Notes 2018 2019 Xi’an JiangyuanAndike Ltd. (“JYADK”) 29.70 % 29.70 % PTC i) 59.51 % 59.51 % Suzhou Shengshan Huiying Venture Capital Investment LLP. (“Suzhou Shengshan”) ii) 5.41 % 5.15 % Suzhou Chorus Medical Technologies Co., Ltd. (“Suzhou Chorus”) iii) 36.00 % — Shanghai Meizhong Jiahe Imaging Diagnostic Center Co., Ltd. ("SH MZJH") iv) 43.23 % — Shanghai Rongchi Medical Management Co., Ltd. ("SH Rongchi") iv) 24.40 % — Tianjin Jiatai Enterprise Management Center (Limited Partnership) ("Tianjin Jiatai") iv) 22.82 % — Wuxi Meizhong Jiahe Cancer Center (“Wuxi MZJH”) v) 10.00 % — DTAP Adam Road PTE.LTD. (“DTAP”) vi) 49.00 % — i) On December 28, 2012, the Group acquired 44.55% limited partner interests of PTC, a limited partnership in Texas, U.S.A., and 45% legal interest of PTC GP Management LLC, a limited liability company registered in Texas, U.S.A and the sole general partner of PTC with 1% interest of PTC, with a consideration of RMB201,176 in cash. On July 31, 2015, the Group acquired additional 14.34% limited partner interests of PTC and additional 17.07% legal interest of PTC GP Management LLC, with a consideration of RMB30,063 in cash. After the additional investments, the Group owned 59.51% interests of PTC which ultimately holds 45.41% legal ownership interests of the University of Texas MD Anderson Cancer Center Proton Therapy Center (“MDA Proton”), a proton treatment center in Texas, U.S.A. In accordance with PTC GP Management LLC’s regulation, the Group is only entitled to designate two out of the five managers and simply majority (more than 50%) amongst the managers is required to pass any resolution. Furthermore, the regulation can only be amended at the request by managers or super majority (more than 2/3) of member interest. Thus, the Group is not able to control PTC GP Management LLC. According to the partnership agreements, the Group has significant influence over PTC which can demonstrate control over MDA Proton by acting as the sole general partner. On November 29, 2018, MDA Proton reached an agreement with University of Texas MD Anderson Cancer Center ("UTMDACC") to sell all its assets and liabilities to UTMDACC as well as terminating management service agreement between MDA Proton and PTC. Before the transaction, the Group accounts for its investment in PTC, and ultimately MDA Proton, under the equity method of accounting. The Group’s share of the net profit or loss of PTC, after accounting for the effect of the difference between the cost basis of the equity method investment and the underlying assets of the investee, was a gain of RMB17,697, RMB509 and nil for the years ended December 31, 2017, 2018 and 2019 respectively. Total cash distribution received by the Group from PTC was RMB6,227, RMB11,626 and nil for the years ended December 31, 2017, 2018 and 2019, respectively. The Group received the first installment of consideration RMB212,855 from PTC on dissolution between MDA Proton and PTC, leading to the disposal gain of RMB48,019 in 2018. The Group received the second and the third installments totaling RMB6,779 (US$973) in 2019 and the carrying amount of the equity investment remained RMB31,497 and RMB24,718 (US$3,551) as of December 31, 2018 and 2019. ii) In 2017, JKSY, a subsidiary of the Group, entered into a partnership agreement to subscribe for 8.13% interest in Suzhou Shengshan, a partnership engaged in equity and capital investment, with a subscription amount of RMB10,000. In 2018, with the subscribed capital injection from new investors, the equity interest JKSY shared in Suzhou Shengshan should be diluted to 4.57%. As the injection was only partially completed, the actual equity interest shared in Suzhou Shengshan was diluted to 5.41% as of December 31, 2018. In 2019, with the subscribed capital injection from new investors, the actual equity interest shared in Suzhou Shengshan was further diluted to 5.15% as of December 31, 2019. According to the partnership agreement, JKSY acts as a limited partner and has significant influence over Suzhou Shengshan's daily operation. iii) In 2015, the Group entered into a share transfer agreement with JWYK, which was controlled by one of the Group's directors. Pursuant to the agreements, the Group would sell 36% equity interest in Suzhou Chorus at a consideration of RMB4,320 to JWYK. The consideration was received by the Group in April 2016. The disposal of Suzhou Chorus was completed in 2019. iv) During 2019, Tianjin Jiatai made total capital injections amouting to RMB34,540 to SH MZJH, leading to Tianjin Jiatai’s equity interest on SH MZJH from 56.77% to 78.34%. On November 13, 2019, Guofu Huimei entered into agreements with ZR Guofu, pursuant to which ZR Guofu would withdraw its investment of 77.18% equity interests in Tianjin Jiatai at a consideration of RMB421,730 (US$60,578). Upon the completion of the transaction, Tianjin Jiatai and its subsidiaries, SH MZJH, Heze MZJH, SH Rongchi, Wuxi MZJH and Oriental became subsidiaries of the Group (note 4). v) On July 22, 2019, Wuxi Concord, a wholly-owned subsidiary of the Group, entered into an agreement with Tianjin Jiatai, to purchase all its 90% equity interests in Wuxi MZJH at a consideration of RMB27,000. After the acquisition, Wuxi MZJH became a wholly-owned subsidiary of the Group. On August 23, 2019, Wuxi Concord further injected capital of RMB82,110 to Wuxi MZJH. vi) In December 2018, DTAP was set up and registered in Singapore by CHS and Republic Healthcare Holdings PTE.LTD (“RHHPL”), a third party of the Group. CHS subscribed to inject SG$0.49 to share 49% equity of DTAP, and accounted for the investment as joint venture according to the cooperation agreement. On July 11, 2019, CHS and RHHPL consented to discontinue the joint venture agreement and CHS’s subscription of 49% shares has transferred to RHHPL at SG$0.49 in the capital of DTAP. DTAP had no substantial business from its inception to discontinuance. |
OTHER NON-CURRENT ASSETS
OTHER NON-CURRENT ASSETS | 12 Months Ended |
Dec. 31, 2019 | |
OTHER NON-CURRENT ASSETS | |
OTHER NON-CURRENT ASSETS | 16. OTHER NON-CURRENT ASSETS Other non-current assets consist of the following: As at December 31, 2018 2019 2019 RMB RMB US$ Deferred cost 267 — — Deposit-long-term* 2,719 6,733 967 Long-term deferred assets 3,479 1,755 252 Advance to hospitals-non current** 1,260 1,433 206 Others 151 — — 7,876 9,921 1,425 * Impairment losses of RMB11,527 and RMB400 (US$57) were provided for the balances as at December 31, 2018 and 2019. ** Impairment losses of RMB1,642 and RMB330 (US$47) were provided for the balances as at December 31, 2018 and 2019. |
ACCRUED EXPENSES AND OTHER LIAB
ACCRUED EXPENSES AND OTHER LIABILITIES | 12 Months Ended |
Dec. 31, 2019 | |
ACCRUED EXPENSES AND OTHER LIABILITIES | |
ACCRUED EXPENSES AND OTHER LIABILITIES | 17. ACCRUED EXPENSES AND OTHER LIABILITIES The components of accrued expenses and other liabilities are as follows: As at December 31, 2018 2019 2019 RMB RMB US$ Accrued expenses 44,621 81,407 11,693 Salaries and welfare payable 8,612 21,959 3,154 Business and other taxes payable 11,400 3,822 549 Payable to acquire the non-controlling interests of CCM (HK) — 44,963 6,459 Amount due to Tianjin Jiatai Group 36,151 — — MD Anderson consulting fee payable 51,029 41,478 5,958 Acquisition payable for investment in CMCC 116,922 12,657 1,818 Consideration advance from JWYK (note 15) 4,320 — — Advance from customers 19,250 3,190 458 Other payables 125,701 67,625 9,714 418,006 277,101 39,803 |
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2019 | |
SHAREHOLDERS' EQUITY | |
SHAREHOLDERS' EQUITY | 18 . SHAREHOLDERS’ EQUITY Ordinary Shares The Company’s ordinary shares are divided into Class A ordinary shares and Class B ordinary shares. The rights of the holders of Class A and Class B ordinary shares are identical, except with respect to voting and conversion rights. On January 27, 2015, the directors of the Company had resolved, subject to the adoption of the Amended M&A, to issue 45,787,948 Class B Ordinary Shares to Morgancreek Investment Holdings Limited (“Morgancreek”), in exchange of 45,787,948 Class A Ordinary Shares held by Morgancreek. During the year ended December 31, 2018, the 45,787,948 Class A ordinary shares of Morgancreek were converted to Class B ordinary shares. As of December 31, 2019, there were 84,454,047 Class A and 45,787,948 Class B ordinary shares outstanding. Share repurchase program On August 10, 2015, the Board of Director approved a share repurchase program pursuant to which, the Company is authorized to repurchase up to US$20,000 of its outstanding ADSs at a price not exceeding US$7.99 per ADS. During the year ended December 31, 2015 and 2016, the Company repurchased 614,033 and 967,408 ADSs, representing 1,842,099 and 2,902,224 ordinary shares, with a total consideration of US$3,111 and US$4,542 respectively. No ADS was repurchased in 2017, 2018 and 2019. Special dividend No special dividend or other dividend was declared in 2017, 2018 and 2019. |
BANK AND OTHER BORROWINGS
BANK AND OTHER BORROWINGS | 12 Months Ended |
Dec. 31, 2019 | |
BANK AND OTHER BORROWINGS | |
BANK AND OTHER BORROWINGS | 19. BANK AND OTHER BORROWINGS As at December 31, 2018 2019 2019 RMB RMB US$ Total bank and other borrowings 938,114 1,620,202 232,728 Comprised of: Short-term 396,520 285,500 41,010 Long-term, current portion 44,068 42,939 6,168 440,588 328,439 47,178 Long-term, non-current portion 497,526 1,291,763 185,550 938,114 1,620,202 232,728 Certain bank borrowings are secured by equipment with a net carrying value of nil and RMB119,359 (US$17,145) (note 10), accounts receivable with a carrying value of nil and RMB30,524 (US$4,384) (note 6) (including lease receivables with a carrying value of nil and RMB24,997 (US$3,591) (note 11)), certain land use rights (which are recorded as “right-of-use assets”) with a carrying value of RMB425,743 and RMB416,548 (US$59,833) (note 11), certain construction in progress with a carrying value of RMB633,444 and RMB1,152,379 (US$165,529) (note 10), deposit for non-current asset with a carrying value of RMB13,800 and nil (note 14),and restricted cash of RMB421,990 and nil (note 2), as of December 31, 2.018 and 2019, respectively. The short-term bank and other borrowing bore a weighted average interest of 4.08 % and 7.73% per annum, and the long-term bank and other borrowings bore a weighted average interest of 9.81% and 11.49% per annum, respectively, as of December 31, 2018 and 2019. Bank and other borrowings amounted to RMB41,624 (US$5,979) (2018: RMB31,083) and RMB1,578,578 (US$226,748) (2018: RMB907,031) were denominated in US$ and RMB, respectively as of December 31, 2019. The maturity analysis of the long-term bank and other borrowings are as follows: RMB US$ Within one year 42,939 6,168 Between one and two years 118,905 17,080 Between two and three years 158,800 22,810 Between three and four years 184,432 26,492 Above four years 829,626 119,168 1,334,702 191,718 As of December 31, 2019, the Group had unutilized short-term bank credit lines and unutilized long-term bank credit lines amounted to nil and RMB557,400 (US$80,066), respectively. |
RESTRICTED NET ASSETS
RESTRICTED NET ASSETS | 12 Months Ended |
Dec. 31, 2019 | |
RESTRICTED NET ASSETS | |
RESTRICTED NET ASSETS | 20. RESTRICTED NET ASSETS The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s PRC subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries. In accordance with the PRC Regulations on Enterprises with Foreign Investment and their articles of association, a foreign invested enterprise established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A foreign invested enterprise is required to allocate at least 10% of its annual after-tax profit to the general reserve until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. Additionally, in accordance with the company law of the PRC, a domestic enterprise is required to provide at least 10% of its annual after-tax profit to the statutory common reserve until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide discretionary surplus reserve, at the discretion of the board of directors, from the profits determined in accordance with the enterprise’s PRC statutory accounts. As a result of these PRC laws and regulations that require annual appropriations of 10% of after-tax income to be set aside prior to payment of dividends as general reserve fund, the Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. In addition, foreign exchange and other regulation in the PRC may further restrict the Company’s PRC subsidiaries from transferring funds to the Company in the form of dividends, loans and advances. The amount of net assets restricted was RMB4,770,139 (US$685,188) as of December 31, 2019. |
TAXATION
TAXATION | 12 Months Ended |
Dec. 31, 2019 | |
TAXATION | |
TAXATION | 21. TAXATION Enterprise income tax: Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. In addition, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed. British Virgin Islands Under the current laws of the British Virgin Islands, subsidiaries in British Virgin Islands are not subject to tax on income or capital gains. In addition, upon payments of dividends by these companies to their shareholders, no British Virgin Islands withholding tax will be imposed. United States US Proton is incorporated in the State of Delaware, U.S.A. in 2011. The entity is subject to U.S. Federal and state Income Tax (graduated income tax rate up to 35% in 2017 and 21% in 2018 and 2019 on its taxable income under the current laws of the United States of America. The company’s activities are located solely in the state of Texas, as such it is subject to Texas Franchise Tax. The amount of current income tax for federal and state for US Proton was nil, 2,867 and -1,358 (-USD$195) for the years ended December 31, 2017, 2018, and 2019. Singapore China Medstar is incorporated in Singapore and does not conduct any substantive operations of its own. CHS, incorporated in Singapore, was acquired in April 2015 and was in a loss position since its establishment. No provision for Singapore profits tax has been made in the consolidated financial statements as the companies have no assessable profits for the years ended December 31, 2017, 2018 and 2019. In addition, upon payments of dividends by China Medstar and CHS to its shareholder, no Singapore withholding tax will be imposed. Hong Kong Subsidiaries in Hong Kong do not conduct any substantive operations of their own. No provision for Hong Kong profits tax has been made in the consolidated financial statements as the Group has no assessable profits for the year presented. In addition, upon payment of dividends by these companies to their shareholders, no Hong Kong withholding tax will be imposed. China The applicable rate for China entities is subject to the PRC EIT at the rate of 25% for the period since 2012. Dividends paid by PRC subsidiaries of the Group out of the profits earned after December 31, 2007 to non-PRC tax resident investors would be subject to PRC withholding tax. The withholding tax would be 10%, unless a foreign investor’s tax jurisdiction has a tax treaty with China that provides for a lower withholding tax rate and the foreign investor is qualified as a beneficial owner under the relevant tax treaty. In general, for circumstances not being tax evasion, the PRC tax authorities will conduct examinations of the PRC entities’ tax filings of up to five years. Accordingly, the PRC entities’ tax years from 2015 to 2019 remain subject to examination by the tax authorities. Loss before income taxes consists of: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Non – PRC (193,212) (98,709) (127,243) (18,277) PRC (60,683) (126,537) (263,835) (37,898) (253,895) (225,246) (391,078) (56,175) The current and deferred components of the income tax expense (benefit) appearing in the consolidated statements of comprehensive loss are as follows: For the Year Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Current tax expense (benefit) 5,105 43,209 (16,570) (2,380) Deferred tax expense (benefit) 26,684 (9,158) (22,416) (3,220) 31,789 34,051 (38,986) (5,600) A reconciliation of the differences between the statutory tax rate and the effective tax rate for EIT is as follows: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Loss before income taxes (253,895) (225,246) (391,078) (56,175) Income tax computed at the tax rate of 25% (63,474) (56,309) (97,770) (14,044) Effect of different tax rates in different jurisdictions 23,554 11,758 19,393 2,786 Non-deductible expenses 13,872 4,661 8,472 1,217 Non-taxable income (1,942) (7,322) (234) (34) Statutory income/(expense) — — 3,216 462 Interest and penalty — — (6,811) (978) Unrecognized tax positions (2,942) 41,122 — — Deferred tax expense — — 32,358 4,648 Changes of valuation allowance 48,089 45,112 41,868 6,014 Withholding tax 15,624 (4,971) (39,478) (5,671) Effect of tax rate change (992) — — — 31,789 34,051 (38,986) (5,600) Deferred Tax The components of deferred taxes are as follows: As at December 31, 2018 2019 2019 RMB RMB US$ Deferred tax asset Net operating loss* 158,330 163,538 23,491 Depreciation and amortization 2,813 6,262 899 Property, plant and equipment impairment 8,750 9,433 1,355 Deposits for non-current assets 6,400 16,350 2,349 Allowance for net investment in financing lease 1,085 4,518 649 Allowance for doubtful accounts 14,132 11,391 1,636 Lease liabilities — 60,073 8,629 Other long-term assets 16,703 37,778 5,426 Equity investment 9,032 9,196 1,321 Others 527 1,891 272 Total deferred tax assets 217,772 320,430 46,027 less: Valuation allowance** (217,076) (260,850) (37,469) Net deferred tax assets 696 59,580 8,558 Deferred tax liabilities Withholding tax for PRC entities (39,495) — — Foreign exchange gain — (9,346) (1,342) Equity investment — (1,299) (187) Property, plant and equipment (415) (2,225) (320) Disposal of Beijing Century Friendship (3,126) (3,126) (449) Intangible assets (113,590) (132,566) (19,042) Deferred costs (67) — — Right-of-use assets — (53,362) (7,665) Capitalized interest (9,649) (19,179) (2,755) Others — (3,915) (562) Total deferred tax liabilities (166,342) (225,018) (32,322) Deferred tax assets, net — — — Deferred tax liabilities, net (165,646) (165,438) (23,764) * As of December 31, 2019, the Group had net operating losses from several of its PRC and oversea entities of RMB789,776 (US$113,444), which can be carried forward to offset future taxable profit. As per filed tax returns, the net operating loss from PRC entities will expire between 2020 to 2024. For the net operating loss from overseas entities, there is no limitation of expiration according to the statute of Hong Kong, Singapore and US. ** The Group records a valuation allowance on its deferred tax assets that is sufficient to reduce the deferred tax assets to an amount that is more likely than not to be realized. Future reversal of the valuation allowance will be recognized either when the benefit is realized or when it has been determined that it is more likely than not that the benefit in future earnings will be realized. The movement of valuation allowance is as follows: For the Year Ended December 31, 2018 2019 2019 RMB RMB US$ Balance at the beginning of year (157,876) (217,076) (31,181) Change of valuation allowance in the current year (59,200) (43,773) (6,288) Balance at the end of year (217,076) (260,849) (37,469) Unrecognized Tax Benefits The reconciliation of the beginning and ending amount of unrecognized tax benefits excluding the penalty and interest is as follows: For the Years Ended December 31, 2018 2019 2019 RMB RMB US$ Balance at the beginning of year 41,358 81,000 11,635 Additions based on tax positions related to the current year 30,043 21,238 3,050 Additions related to prior year tax position 9,676 548 79 Decreases related to prior year tax position — (2,810) (404) Decreases relating to expiration of applicable statute of limitation (920) (1,386) (199) Foreign currency translation 843 394 57 Balance at the end of year 81,000 98,984 14,218 As of December 31, 2018, and 2019, the Group had unrecognized tax benefit of RMB81,000 and RMB98,984 (US$14,218), respectively, among which, nil and RMB27,385 (US$3,934) were presented on a net basis against the deferred tax assets related to tax losses carry forwards on the consolidated balance sheets. At December 31, 2018 and 2019, there were RMB46,978 and RMB60,711 (US$8,721) of unrecognized tax benefits that if recognized would affect the annual effective tax rate. The final outcome of the tax uncertainty is dependent upon various matters including tax examinations, interpretation of tax laws or expiration of statute of limitations. However, due to the uncertainties associated with the status of examinations, including the protocols of finalizing audits by the relevant tax authorities, there is a high degree of uncertainty regarding the future cash outflows associated with these tax uncertainties. However, an estimate of the range of the possible change cannot be made at this time. The Group recognized an increase amounting to RMB2,770, RMB8,309 and a decrease amounting to RMB6,802 (US$977) in interest and penalties during the years ended December 31, 2017, 2018 and 2019, respectively. As of December 31, 2018, and 2019, the Group recognized of interest and penalties of RMB37,943 and RMB31,141 (US$4,473), respectively. Uncertain tax benefits were recorded as other long-term liabilities. Value-added taxes (“VAT”) Revenue earned from the provision of leasing and technical services was subject to 5% business tax prior to the pilot of VAT reform (e.g. Shanghai starts the VAT pilot on January 1, 2012). The final stage of VAT reform has come into effect on 1 May 2016, the pilot program of the collection of VAT in lieu of business tax has been promoted nationwide in a comprehensive manner. Under the current VAT regulation, for the contracts signed prior to the pilot of VAT reform or the movable property acquired prior to the pilot of VAT reform for operating leasing, the relevant rental income from leasing arrangement of movable property could adopt the simple tax calculation method and be subject to 3% VAT levy rate. Other than the above, if the contracts signed after the pilot of VAT reform, the rental income derived from movable property leasing arrangement is subject to VAT at 17%. After a new VAT reform came into effect on 1 April 2019, the rental income derived from movable property leasing arrangement is subject to VAT at 13%. The technical service income is subject to VAT at 6%. |
SHARE-BASED AWARDS
SHARE-BASED AWARDS | 12 Months Ended |
Dec. 31, 2019 | |
SHARE-BASED AWARDS | |
SHARE-BASED AWARDS | 22. SHARE-BASED AWARDS On October 16, 2008, the Board of Directors adopted the 2008 Share Incentive Plan (the “2008 Share Incentive Plan”). The 2008 Share Incentive Plan provides for the granting of options, share appreciation rights, or other share based awards to key employees, directors or consultants, which was subsequently amended on November 17, 2009 and November 26, 2011 to increase the number of ordinary shares available for grant under the plan. The total number of the Company’s ordinary shares that may be issued under the 2008 Share Incentive Plan is up to 13,218,000 ordinary shares. Share options On February 18, 2014, the Company granted options to purchase 3,479,604 ordinary shares to its employees at an exercise price of $2.04 per share that have a contractual life of eight years and vest over four equal installments on the first, second, third, and fourth anniversary of the grant date. The Company recognizes the compensation expense on a straight-line basis over the requisite service period for the entire award. The Company calculated the estimated grant date fair value of the share options granted on February 18, 2014, using a Binomial Tree Model, with key assumptions as follows. February 18, 2014 Risk-free interest rate 2.33 % Dividend yield 5 % Exercise multiple 2.5 Expected volatility range 39.03 % The risk-free rate was based on the US Treasury bond yield curve in effect at the time of grant for periods corresponding with the expected term of the option. The dividend yield was estimated based on the average of historical dividend yields of the Company. The volatility assumption was estimated based on the historical price volatility of ordinary shares of comparable companies in the health care industry. The following table summarizes employee share options activities for the year ended December 31, 2019: Weighted Weighted- Weighted Average Average Average Remaining Aggregate Number of Exercise Grant-date Contractual Intrinsic Share Options Granted to Employees Shares Price Fair Value Term (Years) Value Outstanding, January 1, 2019 3,130,113 US$ 2.21 US$ 0.61 — Lapsed (355,884) US$ 3.55 US$ 1.25 — — Outstanding, December 31, 2019 2,774,229 US$ 2.04 US$ 0.65 — Exercisable at December 31, 2019 2,774,229 US$ 2.04 US$ 0.65 — The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the fair value of the Company’s shares that would have been received by the option holders if all in-the-money options had been exercised on the issuance date. There were no options exercised for the years ended December 31, 2017, 2018 and 2019. As of December 31, 2019, unrecognized share-based compensation cost related to share options was nil. Restricted shares On February 18, 2014, July 1, 2014 and August 1, 2014, the Company granted 1,370,250, 21,132 and 69,564 restricted shares of the Company (“Restricted Shares”) to the employees of the Company, respectively. The Restricted Shares have a service condition where the grantees can remove restriction on 25% of total number of Restricted Shares on annual basis over a four-year period ending the fourth anniversary of the grant date. The Group did not grant any Restricted Shares in 2015 and 2016. On August 7, 2017, August 8, 2017, September 13, 2017 and October 2, 2018, the Company granted 1,453,950, 3,319,200, 45,000 and 5,992,605 Restricted Shares to the employees of the Company, respectively. The Restricted Shares have a service condition where the grantees can remove restriction on 25% of total number of restricted shares on annual basis over a four-year period ending the fourth anniversary of the grant date. Fair Value per Share at the Grant Grant Date Number of Awards date (US$) February 18, 2014 1,370,250 1.93 July 1, 2014 21,132 2.35 August 1, 2014 69,564 2.44 August 7, 2017 1,453,950 1.33 August 8, 2017 3,319,200 1.34 September 13, 2017 45,000 1.33 October 2, 2018 5,992,605 1.19 The Company recognizes the compensation expense on a straight-line basis over the requisite service period for the entire award. Restricted Shares activity for the year ended December 31, 2019 was as follows: Weighted Numbers average grant of shares date fair value RMB US$ Outstanding, January 1, 2019 11,573,802 1.32 Forfeited (83,250) 1.93 Exercised (63,618) 1.34 Outstanding, December 31, 2019 11,426,934 1.32 Exercisable, December 31, 2019 1,073,679 1.93 Expected to vest, December 31, 2019 10,353,255 1.25 As of December 31, 2019, unrecognized share-based compensation cost related to Restricted Shares was RMB47,576 (US$6,834) which is expected to be recognized over a weighted-average vesting period of 2.3 years. The share-based compensation expense of the share options and Restricted Shares granted to employees for the years ended December 31, 2017, 2018 and 2019 is as follows: For the Years ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ General and administrative expenses 10,099 9,173 17,673 2,539 Selling expenses 1,542 1,966 2,920 419 11,641 11,139 20,593 2,958 |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2019 | |
Revenue | |
Revenue | 23. Revenue Revenue consists of ASC 606 and ASC 842 revenue. The Group's revenues , net of value-added tax, disaggregated by revenue source are as follows: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ ASC 606 revenue: Management services and technical services 46,143 50,291 48,416 6,954 Brand royalty fees 6,604 5,189 5,081 730 Consumable sales 7,005 5,867 9,482 1,362 Medical service 31,599 37,770 54,048 7,763 Medicine income 57 15,058 22,777 3,272 ASC 606 revenue 91,408 114,175 139,804 20,081 ASC 842 revenue: Operating lease income* 232,015 71,864 53,485 7,683 Sales-type lease income* — — 1,130 162 Direct financing lease income* 7,554 4,859 3,944 567 ASC 842 revenue 239,569 76,723 58,559 8,412 Total revenue 330,977 190,898 198,363 28,493 * Operating lease income, sales-type lease income and direct financing lease income were recognized under ASC 842, Leases . |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2019 | |
RELATED PARTY TRANSACTIONS | |
RELATED PARTY TRANSACTIONS | 24. RELATED PARTY TRANSACTIONS a) Related parties # Name of Related Parties Relationship with the Group JYADK Equity investee of the Group Guofu Huimei * Equity investee of the Group till October 7, 2018 CMCC * Equity investee of the Group till October 7, 2018 Beijing Century Friendship * Equity investee of the Group till October 7, 2018 Tianjin Jiatai ** Equity investee of the Group till November 17,2019 Wuxi MZJH ** Equity investee of the Group till November 17,2019 SH Rongchi ** Equity investee of the Group till November 17,2019 SH MZJH ** Equity investee of the Group till November 17,2019 Allcure Information An entity controlled by a director of the Company Shanghai Huifu Technology Limited An entity controlled by a director of the Company Cherrylane Investments Limited An entity controlled by a director of the Company # These are the related parties that have engaged in significant transactions with the Company for the years ended December 31, 2017, 2018 and 2019. * Guofu Huimei, CMCC and Beijing Century Friendship were equity investee of the Group previously, which have been acquired by the Group since October 8, 2018 and have become subsidiaries of the Group. ** Tianjin Jiatai, SH Rongchi, SH MZJH and Wuxi MZJH were equity investee of the Group previously, which have been acquired by the Group since November 18, 2019 and have become subsidiaries of the Group. b) The Group had the following related party transactions for the years ended December 31, 2017, 2018 and 2019. For the Years ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Loan to: Tianjin Jiatai — 50 5,949 855 Wuxi MZJH — 460 1,640 236 SH MZJH — 1,000 28,002 4,022 — 1,510 35,591 5,113 Interest income from: JYADK 221 285 206 30 Loan from: Guofu Huimei 300,000 — — — Beijing Century Friendship 218,104 30,551 — — CMCC 41,010 13,408 — — Tianjin Jiatai 91,855 — — — Shanghai Huifu Technology Limited — 22,000 — — Wuxi MZJH — 1,850 — — SH Rongchi — 18,820 — — SH MZJH — 12,420 — — Cherrylane Investments Limited — 12,720 — — 650,969 111,769 — — Interest expense to: Tianjin Jiatai — 193 — — Guofu Huimei * 31,716 15,997 — — Cherrylane Investments Limited — — 151 22 31,716 16,190 151 22 Repayment to: Tianjin Jiatai — 36,420 34,540 4,961 Shanghai Huifu Technology Limited — 20,285 1,715 246 Cherrylane Investments Limited — 2,750 — — SH Rongchi — — 1,029 148 — 59,455 37,284 5,355 Repayment from: JYADK — — 1,485 213 SH MZJH — — 26,000 3,735 — — 27,485 3,948 Management service income from: Tianjin Jiatai 6,577 — — — SH MZJH — 4,810 5,081 730 CMCC 4,118 4,331 — — 10,695 9,141 5,081 730 * The interest expense paid to Guofu Huimei amounting to RMB15,997 and nil was capitalized in year 2018 and 2019. c) The balances between the Group and its related parties as of December 31, 2018 and 2019 are listed below. As at December 31, 2018 2019 2019 RMB RMB US$ Due from related parties, current: JYADK 5,112 3,833 550 Allcure Information ** 9,000 — — SH MZJH 6,099 — — Wuxi MZJH 460 — — 20,671 3,833 550 Due to related parties, current Wuxi MZJH 1,850 — — SH MZJH 12,420 — — Shanghai Huifu Technology 1,715 — — Cherrylane Investments Limited — 10,120 1,454 15,985 10,120 1,454 Due to related parties, non-current SH Rongchi * 155,570 — — Cherrylane Investments Limited * 9,969 — — Tianjin Jiatai * 56,979 — — 222,518 — — * As at December 31, 2018 and 2019, the balance due to related parties, non-current is recorded in “Amount due to related parties, non-current portion” on the consolidated balance sheet. ** As at December 31, 2018 and 2019, the reserve for unrecoverable deposits are provided amounting to nil and RMB9,000 (US$1,293), which is recorded in "Prepayments and other current asset" (note7). |
EMPLOYEE DEFINED CONTRIBUTION P
EMPLOYEE DEFINED CONTRIBUTION PLAN | 12 Months Ended |
Dec. 31, 2019 | |
EMPLOYEE DEFINED CONTRIBUTION PLAN | |
EMPLOYEE DEFINED CONTRIBUTION PLAN | 25. EMPLOYEE DEFINED CONTRIBUTION PLAN Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits, which were expensed as incurred, were RMB13,348 and RMB13,291 and RMB22,868 (US$3,285) for the years ended December 31, 2017, 2018 and 2019, respectively. Obligations for contributions to defined contribution retirement plans for full-time employees in Singapore are recognized as expense in the statements of comprehensive income (loss) as incurred. The total amounts for such employee benefits were approximately RMB399, RMB315 and RMB290 (US$42) for the years ended December 31, 2017, 2018 and 2019, respectively. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2019 | |
COMMITMENTS AND CONTINGENCIES | |
COMMITMENTS AND CONTINGENCIES | 26. COMMITMENTS AND CONTINGENCIES Purchase commitments The Group has commitments to purchase certain medical equipment of RMB660,758 and RMB622,584 (US$89,429) at December 31, 2018 and 2019, respectively, which are scheduled to be paid within following years. Income taxes As of December 31, 2019, the Group has recognized approximately RMB102,740 (US$14,758) as an accrual for unrecognized tax positions. The final outcome of the tax uncertainty is dependent upon various matters including tax examinations, interpretation of tax laws or expiration of status of limitation. However, due to the uncertainties associated with the status of examinations, including the protocols of finalizing audits by the relevant tax authorities, there is a high degree of uncertainty regarding the future cash outflows associated with these tax uncertainties. |
SEGMENT REPORTING
SEGMENT REPORTING | 12 Months Ended |
Dec. 31, 2019 | |
SEGMENT REPORTING | |
SEGMENT REPORTING | 27. SEGMENT REPORTING For the years ended December 31, 2017, 2018 and 2019, the Group had two operating segments, including network and hospital. The operating segments also represented the reporting segments. The Group’s CODM assess the performance of the operating segments based on the measures of revenues costs and gross profit (loss) by the network and hospital segment. Other than the information provided below, the CODM do not use any other measures by segments. Summarized information by segments for the years ended December 31, 2017, 2018 and 2019 is as follows: For the year ended December 31, 2019 Network Hospital Total RMB RMB RMB US$ Revenues from external customers 121,537 76,826 198,363 28,493 Cost of sales (77,131) (137,062) (214,193) (30,767) Gross profit (loss) 44,406 (60,236) (15,830) (2,274) For the year ended December 31, 2018 Network Hospital Total RMB RMB RMB Revenues from external customers 138,070 52,828 190,898 Cost of sales (79,266) (91,870) (171,136) Gross profit (loss) 58,804 (39,042) 19,762 For the year ended December 31, 2017 Network Hospital Total RMB RMB RMB Revenues from external customers 299,321 31,656 330,977 Cost of sales (166,407) (66,572) (232,979) Gross profit (loss) 132,914 (34,916) 97,998 As at December 31, 2018 2019 2019 RMB RMB US$ Segment assets Network 2,103,569 1,030,782 148,063 Hospital 2,481,825 3,266,663 469,227 Total segment assets 4,585,394 4,297,445 617,290 Major Customers Changhai Hospital represented 12.5% of total net revenue for the year ended December 31, 2017. No single customer represented 10% or more of total net revenue for the years ended December 31, 2018 and 2019. Geographic Information Net revenue by country is based upon the sales location that predominately represents the customer location. For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Revenues from PRC 302,304 149,548 164,167 23,581 Revenues from Singapore 28,673 41,350 34,196 4,912 Total revenues 330,977 190,898 198,363 28,493 Total long-lived assets excluding financial instruments, intangible assets, long-term investment and goodwill by country were as follows: As at December 31, 2018 2019 2019 RMB RMB US$ PRC 2,036,133 2,890,858 415,245 Singapore 281,495 280,970 40,359 Total long-lived assets 2,317,628 3,171,828 455,604 |
LOSS PER SHARE
LOSS PER SHARE | 12 Months Ended |
Dec. 31, 2019 | |
LOSS PER SHARE | |
LOSS PER SHARE | 28. LOSS PER SHARE A reconciliation of net loss attributable to the Company in the consolidated statements of comprehensive loss to the numerator for the computation of basic and diluted loss per share for the years ended December 31, 2017, 2018 and 2019 is as follows: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net loss attributable to Concord Medical Services Holdings Limited (284,320) (234,875) (307,049) (44,105) Accretion of contingently redeemable noncontrolling interests — (124,355) (245,477) (35,261) Numerator for EPS computation (284,320) (359,230) (552,526) (79,366) For the Years Ended December 31 2017 2018 2019 2019 Ordinary Shares Class A Class B Class A Class A Class B Class B RMB RMB RMB RMB USD RMB USD Numerator Net loss attributable to ordinary shareholders used in calculating loss per ordinary share – basic and diluted (284,320) (328,403) (30,827) (358,274) (51,463) (194,252) (27,903) Denominator: Weighted average number of ordinary shares outstanding used in calculating loss per share – basic and diluted 130,091,977 118,940,054 11,164,733 84,450,550 84,450,550 45,787,948 45,787,948 Loss per share – basic and diluted (2.19) (2.76) (2.76) (4.24) (0.61) (4.24) (0.61) The effects of share options and restricted shares have been excluded from the computation of diluted loss per share for the years ended December 31, 2017, 2018 and 2019 as their effects would be anti-dilutive. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2019 | |
FAIR VALUE MEASUREMENTS | |
FAIR VALUE MEASUREMENTS | 29. FAIR VALUE MEASUREMENTS The Group applies ASC Topic 820, Fair Value Measurements and Disclosures ("ASC 820"), which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the market place. Level 3 - Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. The Group apply fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Goodwill, intangible assets, and other long-lived assets are measured at fair value on a nonrecurring basis, only if impairment is indicated. The following table summarizes the nonrecurring fair value measurements for each class of assets as of and for the year ended December 31, 2019. As of December 31, 2019, we determined that certain equipment and long-lived assets related to the Group’s low-performance centers were impaired. In accordance with ASC 360 Property, plant and equipment, long-lived assets held and used with a carrying amount of RMB8,834 (US$1,269) were written down to their fair value of RMB1,985 (US$285). The resulting impairment charge of RMB6,849 (US$984) was recorded in “impairment of long-lived assets” in the consolidated statements of comprehensive loss. The Group calculated the fair value of long-lived assets based on estimated future discounted cash flows based on a discount rate of 14% and expected remaining useful life of such assets and classified the fair value as a Level 3 measurement due to the significance of unobservable inputs. The inputs used to measure the estimated fair value of goodwill are classified as Level 3 in the fair value hierarchy due to the significance of unobservable inputs using company-specific information. Fair Value Measurement at the End of the Reporting Period Using Quoted Prices in Active Markets for Significance Significant As of Identical Other Unobservable December 31, Assets Observable Inputs Total 2019 (Level 1) Inputs (Level 2) (Level 3) loss RMB US$ RMB RMB RMB RMB Description Nonrecurring fair value measurements Long-lived assets held and used 1,985 285 — — 1,985 (6,849) Fair Value Measurement at the End of the Reporting Period Using Quoted Prices in Active Markets for Significance Significant As of Identical Other Unobservable December 31, Assets Observable Inputs Total 2018 (Level 1) Inputs (Level 2) (Level 3) loss RMB RMB RMB RMB RMB Description Fair value measurements on a recurring basis: Available-for-sale debt investments 50,000 50,000 — — — Nonrecurring fair value measurements: Long-lived assets held and used 3,467 — — 3,467 (4,418) |
PARENT COMPANY ONLY CONDENSED F
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | 12 Months Ended |
Dec. 31, 2019 | |
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | |
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | 30. PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed balance sheets As at December 31 2018 2019 2019 RMB RMB US$ ASSETS Current assets: Cash and cash equivalent 722 540 78 Amounts due from subsidiaries 503,087 404,213 58,061 Total current assets 503,809 404,753 58,139 Non-current assets: Investments in subsidiaries 1,623,996 1,154,986 165,903 Total assets 2,127,805 1,559,739 224,042 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term bank borrowings 249,202 — — Accrued expenses and other liabilities 29,310 55,409 7,959 Amounts due to subsidiaries 1,411,871 1,627,094 233,717 Total current liabilities 1,690,383 1,682,503 241,676 Total liabilities 1,690,383 Shareholders’ equity (deficit): Class A ordinary shares (par value of US$0.0001per share; authorized shares-500,000,000; issued shares-142,353,532 as of December 31, 2018 and 2019; outstanding shares-84,390,429 and 84,454,047 as of December 31, 2018 and 2019, respectively) 68 68 10 Class B ordinary shares (par value of US$0.0001per share; authorized shares‑45,787,948; issued shares-45,787,948 and 45,787,948 as of December 31, 2018 and 2019; outstanding shares- 45,787,948 and 45,787,948 as of December 31, 2018 and 2019, respectively) 37 37 5 Treasury stock (12,175,155 and 12,111,537 shares as of December 31, 2018 and 2019, respectively) (8) (8) (1) Additional paid-in capital 1,758,937 1,759,941 252,800 Accumulated other comprehensive loss (88,621) (97,285) (13,974) Accumulated deficit (1,232,991) (1,785,517) (256,474) Total shareholders’ equity (deficit) 437,422 (122,764) (17,634) Total liabilities and shareholders’ equity (deficit) 2,127,805 1,559,739 224,042 Condensed statements of comprehensive loss For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Revenues — — — — Cost of revenues — — — — General and administrative expenses (24,431) (17,051) (39,118) (5,619) Selling expenses (1,802) (2,021) (2,938) (422) Operating loss (26,233) (19,072) (42,056) (6,041) Equity in loss of subsidiaries (250,696) (333,682) (514,070) (73,842) Interest income — 14 1,977 284 Interest expense (7,554) (15,325) (6,481) (931) Foreign exchange gain 163 8,835 8,104 1,164 Net loss (284,320) (359,230) (552,526) (79,365) Other comprehensive income (loss), net of tax of nil foreign currency translation adjustments 40,550 (41,203) (8,664) (1,245) Total other comprehensive (loss) income 40,550 (41,203) (8,664) (1,245) Comprehensive loss (243,770) (400,433) (561,190) (80,610) Condensed statements of cash flows For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net cash used in operating activities (89,751) (5,024) (31,460) (4,520) Net cash (used in) generated from investing activities (21,452) 294,551 311,716 44,775 Net cash generated from(used in) financing activities 127,106 (284,824) (280,483) (40,289) Exchange rate effect on cash (35,017) (7,085) 45 7 Net decrease in cash (19,114) (2,382) (182) (27) Cash at beginning of the year 22,218 3,104 722 105 Cash at end of the year 3,104 722 540 78 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. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2019 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | 31. SUBSEQUENT EVENTS Capital injection from CITIC Industrial Investment Group Limited (“CITIC Industrial”) In February 2020, the Group entered into an investment agreement with CITIC Industrial pursuant to which CITIC Industrial purchased 38,888,888 shares of the Group's subsidiary MHM in exchange for RMB700,000. The Group received the consideration in March 2020. Upon completion of all transactions mentioned above, the Group’s ownership in MHM will be diluted from 60% to 50.01%. Impact from Coronavirus (COVID-19) Beginning January 2020, the emergence and wide spread of the novel Coronavirus (“COVID-19”) has resulted in quarantines, travel restrictions , and the temporary closure of stores and facilities in China and elsewhere. Substantially all of the Group’s revenue and workforce are concentrated in China. Consequently, the outbreak has negatively impacted the Group’s network centers and self-owned hospital operations in China and resulted in less patient treatment from late January to early March. The Group’s total revenue declined for January and March of 2020 as compared to the same period in the prior year. As the COVID-19 outbreak has further spread outside the PRC and it is uncertain as to whether the COVID-19 outbreak will continue to be contained in the PRC, the Group’s operation results and financial position of 2020 might be adversely impacted to a certain extent, including but not limited to negative impact to the Group’s total revenues, slower collection of accounts receivables and additional allowance for doubtful accounts and impairment on the Group’s long-lived assets. Because of the uncertainties surrounding the COVID-19 outbreak, the extent of the business disruption and the related financial impact cannot be reasonabl y estimated at this time. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of presentation | Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). |
Going Concern | Going Concern The Group experienced net loss of approximately RMB285,684, RMB259,297 and RMB352,092 (US$50,575) for the years ended December 31, 2017, 2018 and 2019, respectively, and net cash used in the operating activities of approximately RMB38,591 and RMB195,347 (US$28,058), respectively, for the years ended December 31, 2018 and 2019. As of December 31, 2019, the Group had net current liabilities of approximately RMB344,964 (US$49,551). When preparing the consolidated financial statements as of December 31, 2019 and for the year then ended, the Group’s management concluded that a going concern basis of preparation was appropriate after analyzing the cash flow forecast for the next twelve months which indicate that the Group will have sufficient liquidity through April 2021. In preparing the cash flow analysis, management took into account of a) the receipt of the capital injection from CITIC Industrial Investment Group Limited of RMB700,000 (US$100,549), b) the credit facilities of RMB557,400 (US$80,066) provided by a bank in the PRC, c) a financing arrangement entered into with a third-party financing company for medical equipment purchase of RMB207,000 (US$29,734). Therefore, management believed that the substantial doubt about the Group’s ability to continue as a going concern within one year after the date the financial statements are issued has been alleviated and prepared the consolidated financial statements assuming the Group will continue as a going concern. |
Use of estimates | Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in the Company’s financial statements include, but are not limited to, purchase price allocation, allowance for doubtful accounts, impairment of long-lived assets and goodwill, useful lives of property, plant and equipment and leases, realization of deferred tax assets, share-based compensation expenses, unrecognized tax benefits, incremental borrowing rate of right-of-use assets and related lease obligation, the valuation of the Group’s acquired equity investments and the determination of fair value of the retained investments in the subsidiary which is deemed to be disposed. Actual results could materially differ from those estimates. |
Principles of consolidation | Principles of consolidation The consolidated financial statements of the Group include the financial statements of the Company, its subsidiaries and the VIE and its subsidiaries for which the Company or a subsidiary of the Company is the primary beneficiary. All transactions and balances between the Company, subsidiaries and VIE and its subsidiaries have been eliminated upon consolidation. Results of acquired subsidiaries and its VIE and its subsidiaries are consolidated from the date on which control is transferred to the Company. |
Foreign currency translation and transactions | Foreign currency translation and transactions The Company’s PRC subsidiaries determine their functional currencies to be the Chinese Renminbi (“RMB”) based on the criteria of ASC 830, Foreign Currency Matters (“ASC 830”). The Group uses the RMB as its reporting currency. Generally, the Company and other subsidiaries incorporated outside PRC use their local currency as functional currency. The Company and the subsidiaries whose functional currency is not RMB use the monthly average exchange rate for the year and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively. Translation differences are recorded in accumulated other comprehensive loss, a component of shareholders’ equity. Transactions denominated in foreign currencies are remeasured into the functional currency at the exchange rates prevailing on the transaction dates. Foreign currency denominated financial assets and liabilities are remeasured at the exchange rates prevailing at the balance sheet date. Exchange gains and losses are included in the consolidated statements of comprehensive loss. Accumulated other comprehensive loss represents the cumulative foreign currency translation adjustments at each balance sheet date. |
Convenience translation | Convenience translation Amounts in U.S. dollars are presented for the convenience of the reader and are translated at the noon buying rate of RMB6.9618 to US$1.00 on December 31, 2019 as published on the website of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate. |
Comparative Information | Comparative Information Certain items reported in the prior year's consolidated statements have been reclassified to conform with the current year's presentation to facilitate comparison. |
Business combination and noncontrolling interests | Business combination and noncontrolling interests The Group accounts for business combinations using the purchase method of accounting in accordance with ASC 805, Business Combinations . ASC 805 requires the Group to recognize separately from goodwill the assets acquired, the liabilities assumed and the noncontrolling interest at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the assets acquired and the liabilities assumed. In cases where the Group acquires less than 100% ownership interest, the Group will derive the fair value of the acquired business as a whole, which will typically include a control premium and subtract the consideration transferred by the Group for the controlling interest to identify the fair value of the noncontrolling interest. In addition, the share purchase agreements entered into may contain contingent consideration provisions obligating the Group to pay additional purchase consideration, upon the acquired business’s achievement of certain agreed upon operating performance based milestones. Under ASC 805, these contingent consideration arrangements are required to be recognized and measured at fair value at the acquisition date as either a liability or as an equity instrument, with liability instruments being required to be remeasured at each reporting period through the Company’s statements of comprehensive income (loss) until such time as to when the contingency is resolved. Where the fair value of the net assets acquired exceeds the consideration paid, a gain as a result of the bargain purchase will be recognized through the consolidated statements of comprehensive loss at the close of the transaction. The Group derives estimates of the fair value of assets acquired and liabilities assumed using reasonable assumptions based on historical experiences and on the information obtained from management of the acquired companies. Critical estimates in valuing certain of the intangible assets and pre-existing agreements included but were not limited to the following: deriving estimates of future expected cash flows from the acquired business, the determination of an appropriate discount rate, deriving assumptions regarding the period of time that the related benefits would continue and the initial measurement and recognition of any contingent consideration arrangements and the evaluation of whether contingent consideration arrangement is in substance compensation for future services. Unanticipated events may occur which may affect the accuracy or validity of such assumptions or estimates. In a business combination achieved in stages, the Group re-measures the previously held equity interest in the acquiree immediately before obtaining control at its acquisition date fair value and the re-measurement gain or loss, if any, is recognized in the consolidated income statements. For the Company's non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly, to the Company. When the noncontrolling interest is contingently redeemable upon the occurrence of a conditional event, which is not solely within the control of the Company, the noncontrolling interest is classified as mezzanine equity. The Company accretes changes in the redemption value over the period from the date that it becomes probable that the mezzanine equity will become redeemable to the earliest redemption date using the effective interest method. When the noncontrolling interest is mandatory redeemable on a fixed or determinable date, the noncontrolling interest is classified as liabilities. If a transaction does not meet the definition of a business, the transaction is recorded as an asset acquisition. Accordingly, the identifiable assets acquired and liabilities assumed are measured at the fair value of the consideration paid, based on their relative fair values at the acquisition date. Acquisition-related costs are included in the consideration paid and capitalized. Any contingent consideration payable that is dependent on the purchaser’s future activity is not included in the consideration paid until the activity requiring the payment is performed. Any resulting future amounts payable are recognized in profit or loss when incurred. No goodwill and no deferred tax asset or liability arising from the assets acquired and liabilities assumed are recognized upon the acquisition of assets. In January 2017, the FASB issued ASU No. 2017‑01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. The Group adopted ASU 2017‑01 on January 1, 2018, there is no material impact on the Group’s consolidated financial statements. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash on hand and demand deposits placed with banks which are unrestricted as to withdrawal and use and have original maturities less than three months. All highly liquid investments with a stated maturity of 90 days or less from the date of purchase are classified as cash equivalents. |
Restricted cash | Restricted cash Restricted cash represents cash pledged to financial institutions as collateral for the Group’s short-term and long-term borrowings and was recorded under current and non-current on the classification of the underlying bank borrowings (note 19). Such restricted cash is not available to fund the general liquidity needs of the Group. The Group adopted Accounting Standards Update (“ASU”) No. 2016‑18, Statement of Cash Flows (Topic 230): Restricted Cash , (“ASU 2016‑18”), effective January 1, 2018 using the retrospective transition method and included all restricted cash with cash and cash equivalent when reconciling beginning-of-period and end-of-period total amounts presented in the consolidated statements of cash flows. |
Short-term investments | Short-term investments All highly liquid investments with original maturities of greater than three months, but less than 12 months, are classified as short-term investments. Investments that are expected to be realized in cash during the next 12 months are also included in short-term investments. The Group accounts for debt securities in accordance with ASC Topic 320, Investments—Debt Securities (“ASC 320”). The Group classifies the short-term investments in debt securities as “held-to-maturity”, “trading” or “available-for-sale”, whose classification determines the respective accounting methods stipulated by ASC 320. Dividend and interest income, including amortization of the premium and discount arising at acquisition, for all categories of investments in securities are included in earnings. Any realized gains or losses on the sale of the short-term investments are determined on a specific identification method, and such gains and losses are reflected in earnings during the period in which gains or losses are realized. Debt investments not classified as trading or as held-to-maturity are classified as available-for-sale debt securities, which are reported at fair value, with unrealized gains and losses recorded in “Accumulated other comprehensive income”. An impairment loss on the available-for-sale debt securities is recognized in the consolidated statements of comprehensive income when the decline in value is determined to be other-than-temporary. |
Long-term investments | Long-term investments The Group’s long-term investments consist of equity investments without readily determinable fair value and equity method investments. The Group adopted ASC 321, Investments-Equity Securities, (“ASC 321”) on January 1, 2018 and the cumulative effect of adopting the new standard on opening accumulated deficit was not material. Pursuant to ASC 321, equity investments, except for those accounted for under the equity method and those that result in consolidation of the investee and certain other investments, are measured at fair value, and any changes in fair value are recognized in earnings. For equity securities without readily determinable fair value and do not qualify for the existing practical expedient in ASC Topic 820, Fair Value Measurements and Disclosures , (“ASC 820”), the Group elected to use the measurement alternative to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Group makes a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the Group estimates the investment’s fair value in accordance with the principles of ASC 820. The Group recognizes an impairment loss in net income equal to the difference between the carrying value and fair value if the investment’s fair value is less than its carrying value. Investments in equity investees represent investments in entities in which the Group can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC Subtopic 323-10, Investments-Equity Method and Joint Ventures: Overall , (“ASC 323-10”). The Group applies the equity method of accounting that is consistent with ASC 323-10 in limited partnerships in which the Group holds a three percent or greater interest. Under the equity method, the Group initially records its investment at cost and prospectively recognizes its proportionate share of each equity investee’s net profit or loss into its consolidated statements of operations. The difference between the cost of the equity investee and the amount of the underlying equity in the net assets of the equity investee is recognized as equity method goodwill included in equity method investments on the consolidated balance sheets. The Group evaluates its equity method investments for impairment under ASC 323-10. An impairment loss on the equity method investments is recognized in the consolidated statements of operations when the decline in value is determined to be other-than-temporary. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business. In accordance with ASC Topic 350, Goodwill and Other Intangible Assets , (“ASC 350”), recorded goodwill amounts are not amortized, but rather are tested for impairment annually or more frequently if there are indicators of impairment present. In accordance with ASC 350, the Group assigned and assessed goodwill for impairment at the reporting unit level. A reporting unit is an operating segment or one level below the operating segment. As of December 31, 2018 and 2019, the Group has three reporting units, consisting of network business, overseas hospital business and domestic hospital business. Goodwill resulted from the acquisitions of subsidiaries during the years ended December 31, 2018 and 2019 was assigned to domestic hospital business reporting unit. The Group early adopted ASU No. 2017-04, Simplifying the Test for Goodwill Impairment , (“ASU 2017-04”). Under the new guidance, The Group has the option to either assess qualitative factors first to determine whether it is necessary to perform the two-step test, or the Group has an unconditional option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the quantitative goodwill impairment test by calculating the fair value of the reporting unit and comparing that value with its carrying amount, in accordance with ASC 350-20. If the Group believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than carrying amount, the two-step quantitative impairment test described above is required. Otherwise, no further testing is required. If a reporting unit’s carrying amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. For the year ended December 31, 2018, the Company elected to perform qualitative assessments on its goodwill which is entirely assigned to the domestic hospital business. The Company evaluated all relevant factors including, but not limited to, macroeconomic conditions, industry and market conditions and financial performance of the Company. The Company weighed all factors in their entirety and concluded that fair value of the reporting unit exceeds the carrying value of the reporting unit, goodwill is not impaired, and the Company is not required to perform further testing. For the year ended December 31, 2019, the Company elected to bypass the qualitative assessment and proceed directly to performing the quantitative goodwill impairment testing. The Company considered the future discounted cash flows expected to be generated by the domestic hospital business to determine the fair value of the reporting unit. The Group did not recognize any goodwill impairment for the years presented. |
Accounts receivable and allowance for doubtful accounts | Accounts receivable and allowance for doubtful accounts Accounts receivable are recognized and carried at the original invoiced amount less allowance for any potential uncollectible amounts.The Group considers many factors in assessing the collectability of its receivables due from its customers, such as the age of the amounts due, the customer’s payment history and credit-worthiness. An allowance for doubtful accounts is recorded in the period in which loss is determined to be probable. The Group routinely evaluates the collectability of accounts receivable of each customer on a specific identification basis. At the time when the Group becomes aware of circumstances that may impair a specific customer’s ability to meet its financial obligations, the Group records a specific allowance against amounts due, and thereby reduces the net recognized receivable to the collectible amount. Accounts receivable balances are written off after all collection efforts have been exhausted. |
Inventories | Inventories Inventories, consisting of medicine, medical supplies and low-value consumables, are accounted for using the first-in first-out method, and are valued at the lower of cost or market. |
Loan receivables | Loan receivables Loan receivables represented the loans to related parties and third parties, which were measured at amortized cost and reported in the consolidated balance sheets at outstanding principle. Loan receivables with collection period within one year are classified as prepayments and other current assets in the consolidated balance sheets. Cash paid for loan originations and cash received from loan repayments are classified as operating activities in the consolidated statements of cash flows. |
Leases | Leases Lessee Accounting The Group leases office space, plant and machinery, and land use rights. The Group’s offices and facility leases generally have lease terms between 1 to 18 years. The Group’s lease agreements include fixed and variable lease payments and do not contain material residual value guarantees. The Group’s leases do not contain restrictions or covenants that restrict the Group from incurring other financial obligation. The Group also makes upfront payments to acquire the leased land from the owners, with lease periods of 50 years (“land use right”). There is no ongoing payment under the terms of these land use rights. The Group determines if an arrangement is a lease at inception and classifies leases as operating or finance leases in accordance with the recognition criteria in ASC 842-20-25-2. The Group classifies a lease as a finance lease if the lease meets any one of the following criteria: a. The lease transfers ownership of the underlying asset to the lessee by the end of the lease term. b. The lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise. c. The lease term is for a major part of the remaining economic life of the underlying asset. d. The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already included in the lease payments equals or exceeds substantially all of the fair value of the underlying asset. e. The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. The Group classifies a lease as an operating lease when it does not meet any one of these criteria. For operating leases, the Group recognizes a right-of-use (“ROU”) asset and a lease liability based on the present value of the lease payments over the lease term on the consolidated balance sheets at commencement date. Lease expense is recorded on a straight-line basis over the lease term. As the Group’s leases do not provide an implicit rate, the Group estimates its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. In estimating its incremental borrowing rate, the Group considers its credit rating, nature of underlying asset, and publicly available data of borrowing rates for loans of similar amount, currency and term as the lease. When the Group enters into sale-leaseback transactions as lessee, it first assesses whether the effectively transferred the underlying asset using the guidance in ASC 606. If the Group transfers the control of the leased asset to the buyer-lessor, the Group accounts for the sale of the underlying asset in accordance with ASC606. The subsequent leaseback of the asset is accounted for in accordance with ASC842 in the same manner as any other lease. If the seller-lessee does not transfer the control of the leased asset to the buyer-lessor, it is a failed sales-leaseback transaction and subsequently accounted for as a financing arrangement. Lessor Accounting The Group provides sales-type, direct financing and operating leases of various medical equipment primarily to hospitals in the PRC for periods ranging from 5 to 20 years. The Group classifies a lease as a sales-type lease in accordance with the recognition criteria in ASC 842-20-25 if the lease meets any one of the criteria mentioned above when determining a finance lease. For sales-type leases, the Group derecognizes the underlying asset and recognizes the net investment in the lease which is the sum of the lease receivable when collectability is probable at lease commencement. All initial direct costs are expensed at commencement date. The Group subsequently recognize interest income over the lease term using the effective interest method. Many of the Group’s leases contain variable lease payments based on the revenue or profit generated from the hospitals’ use of the underlying assets, the specific amounts of which are agreed monthly with the hospitals and settled based on the Group’s payment terms. In such circumstances, the Group recognizes a selling loss at commencement for the difference between the net investment in the lease and the carrying amount of the underlying asset. The Group does not include variable lease payments in the net investment in the lease and such payments are recognized as income in profit or loss in the period when the facts and circumstances on which the variable lease payments are based occur. When none of the criteria in ASC 842-20-25-2 are met, the Group classifies a lease as either a direct financing lease or an operating lease. The Group classifies as a direct financing lease if (i) the present value of the sum of lease payments and any residual value guarantee equals or exceeds substantially all the fair value of the underlying asset; and (ii) it is probable at inception that it will collect the lease payments plus any amount necessary to satisfy a residual value guarantee. If both of the criteria above are not met, the lease is classified as an operating lease. A general description of the Group’s lease income for each type of lease arrangement was as follows: i. The Group provides diagnostic imaging and/or radiation oncology system (“medical equipment”) to hospitals in the PRC through lease arrangements ranging from 5 to 20 years. In certain circumstances, the Group also provides full-time qualified system technician responsible for certain management services related to the radiotherapy or diagnostic services being performed by the hospital centers’ doctors to their patients. The Group receives a portion of the hospital’s revenue or profits from delivering the diagnostic imaging and / or radiation oncology services to patients, based on the revenue-sharing or profit-sharing formula predetermined in the contracts. The Group evaluates such arrangements at inception to determine whether they contain a lease and the lease classification under ASC 842. Most of such arrangements are classified as sales-type leases since these agreements often include an option to the hospitals to purchase the underlying asset which the hospitals are reasonably certain to exercise. Variable lease payments are fully constrained at inception of the contract. Variable fees are included in the arrangement transaction price when significant reversal is not expected to occur, which is the time when the hospital calculates the profit sharing under the arrangement and agreed upon by both parties, typically at month end. The Group’s arrangements may contain lease and non-lease components. Non-lease components primarily include payments for maintenance, update and consultation services related to the medical equipment. The Group allocates the lease and non-lease components of the contract consideration on a relative standalone selling price basis. ii. The Group elected the package of practical expedients which allowed the Group not to separate lease and non-lease components for diagnostic imaging and /or radiation oncology systems assets and recognizes profit sharing revenue under ASC 842. If there is a non-lease component whose pattern and timing is not the same the Group allocates the consideration on a relative standalone selling price basis. iii. The Group purchases hospital equipment from third party equipment manufacturers which is installed at various hospitals throughout the PRC. The hospitals utilize the hospital equipment radiotherapy or diagnostic services being performed by the hospital centers’ doctors to their patients. These lease arrangements include either title transfer upon maturity of the lease term or bargain purchase option held by the hospital. The Group receives fixed monthly rental payments from the hospital, which on a discounted basis does not give rise to any dealer profit. The Group records revenue attributable to direct financing leases so as to produce a constant rate of return on the balance of the net investment in the lease. |
Property, plant and equipment, net | Property, plant and equipment, net Property, plant and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Estimated residual Category Estimated useful life value Buildings 20‑50 years — Medical equipment* 5‑20 years — Electronic and office equipment 3‑5 years — Motor vehicles 5 years — Leasehold improvement and building improvement shorter of lease term or 5 years — * The cost of the asset is amortized over the estimated useful life. However, if ownership is transferred at the end of the lease term, the cost of the asset is amortized over the shorter of customer contract or the useful life of the asset which ranges from 5 to 20 years. Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterments that extends the useful lives of property, plant and equipment is capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of comprehensive loss. Costs incurred in constructing new facilities, including progress payment, interest and other costs relating to the construction are capitalized and transferred to fixed assets upon completion. During the years ended December 31, 2017, 2018 and 2019, total interest costs incurred amounted to RMB128,492, RMB101,717 and RMB110,319, (US$15,846), respectively, in which interest costs capitalized amounted to RMB38,533, RMB55,485 and RMB81,619 (US$11,724), respectively. |
Intangible assets, net | Intangible assets, net Intangible assets are carried at cost less accumulated amortization and any recorded impairment. Intangible assets acquired in a business combination were recognized initially at fair value at the date of acquisition. The operating license relates to the medical business qualification and permission for medical equipment operation. The favorable leases relate to favorable lease terms as lessee based on market conditions that exist on the date of acquisition and are amortized over the remaining term of the leases. The customer relationship assets relate to the ability to sell existing and future services to existing customers and have been estimated using the income method. Operating leases relate to favorable operating lease terms based on market conditions that exist on the date of acquisition and are amortized over the remaining term of the leases. The estimated useful life for the intangible assets is as follows: Estimated useful life Operating license 20 years Favorable leases 12-17 years Customer relationship 5‑16 years Operating leases 9‑16 years Software 3‑5 years |
Impairment of long-lived assets | Impairment of long-lived assets The Group evaluates its long-lived assets or asset group including acquired intangibles with finite lives for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of a group of long-lived assets may not be fully recoverable. When these events occur, the Group evaluates the impairment by comparing the carrying amount of the assets to future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Group recognizes an impairment loss based on the excess of the carrying amount of the asset group over its fair value, generally based upon discounted cash flows or market prices. Impairment loss on long-lived assets of RMB28,600, RMB5,433 and RMB76,089 (US$10,930) was recognized for the years ended December 31, 2017, 2018 and 2019, respectively. |
Treasury stock | Treasury stock The Company has share repurchase programs where the shares are acquired and subject to cancellation. Cost of the Group’s shares acquired is treated as a deduction from shareholders’ equity. Upon cancellation, any excess of purchase price over par value is charged directly to additional paid-in capital. |
Fair value of financial instruments | Fair value of financial instruments Financial instruments include cash and cash equivalents, restricted cash, accounts receivable, certain other current assets, net investment in direct financing leases, short-term investment, certain other non-current assets, short-term and long-term bank and other borrowings, accounts payables, certain other current liabilities, dividend payable, amounts due to related parties, mandatorily redeemable noncontrolling interest and certain other long-term liabilities. The carrying amounts of the Group’s cash and cash equivalents, restricted cash, accounts receivable, certain other current assets, balances with related parties and accounts payable approximate fair value because of their short maturities. The short-term investments are recorded at fair value based on the quoted published price. The carrying amounts of the Group’s short-term and long-term bank and other borrowing and secured borrowings mostly bear interest at floating rates and therefore approximate the fair value of these obligations. For those bank borrowings and mandatorily redeemable noncontrolling interest with fixed interest rates, management uses the discounted cash flow technique based on market interest rate for similar instruments at the balance sheet date and concludes that the carrying value approximates the fair value. |
Assets held for sale | Assets held-for-sale Assets (disposal groups) are classified as held-for-sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the long-lived asset (or disposal group) is available for immediate sale in its present condition. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification. Assets (disposal groups) classified as held-for-sale are measured at the lower of their previous carrying amount and fair value less costs to sell. |
Revenue recognition | Revenue recognition On January 1, 2018, the Group adopted ASU No. 2014‑09, Revenue from Contracts with Customers, (“ASC 606”), which supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition , (“ASC 605”), using the modified retrospective transition method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts have not been adjusted and continue to be reported in accordance with historic accounting under ASC 605. The impact of adopting the new revenue standard was not material to consolidated financial statements and there was no adjustment to beginning retained earnings on January 1, 2018. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements or elements of an arrangement within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price, including variable consideration, if any; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Group only applies the five-step model to contracts when it is probable that the entity will collect the consideration to which it is entitled in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Group reviews the contract to determine which performance obligations it must deliver and which of these performance obligations are distinct. The Group recognizes revenue based on the amount of the transaction price that is allocated to each performance obligation when that performance obligation is satisfied or as it is satisfied. The Group is a principal and records revenue on a gross basis when the Group is primarily responsible for fulfilling the service, has discretion in establish pricing and controls the promised service before transferring that service to customers. Otherwise, the Group records revenue at the net amounts as commissions. The Group recognizes revenues net of value added taxes (“VAT”). If revenue recognition is deferred to a later period, the related VAT are also deferred and will be recognized only upon recognition of the deferred revenue. ASC 606 revenue i. The Group provides stand-alone management and technical services to certain hospitals which already possess radiotherapy and diagnostic equipment. Management services typically include the provision of diagnosis and treatment techniques, expert support, advertising and promotion as well as comprehensive operational management services. Technical services mainly include maintenance and upgrade of the radiotherapy and diagnostic equipment. The fees for management and technical services are calculated based on a predetermined percentage of monthly revenue generated by the hospital unit or in limited instances on a fixed monthly fee. Variable fees are fully constrained at contract inception due to the uncertainty of the hospital units’ monthly revenue. Variable fees are included in the transaction price when a significant reversal of revenue recognized is not expected to occur, typically upon receipt of the monthly revenue statement from hospitals. Fixed monthly fees are recognized ratably over the service term. ii. Consumable sales represented the sales of supplies to certain hospital in the PRC. Under majority of the consumable sales contracts, the Group acts primarily as a reseller and does not have pricing authority or have title to the inventory prior to delivery to the hospital. The Group is an agent and generally records revenue related to consumables sales on a net basis when the consumables are delivered to the customer and the sales price is determinable. iii. Brand royalty fees represented the right to use the brand of Meizhong Jiahe by several newly set-up specialty cancer hospitals on a fixed annual fee. Fixed annum fees are recognized ratably over the service term. iv. Hospital revenue consists of medicine income and medical service income. Medical service income include revenue generated from outpatients, which mainly consist of activities for physical examinations, treatments, surgeries and tests, as well as that generated from inpatients, which mainly consist of activities for clinical examinations and treatments, surgeries, and other fees such as room charges and nursing care. The Group is a principal as it is primarily responsible for providing medical services to the income, controls the promised services before transferring to patients, and has pricing discretion. The Group generally records revenue generated from medical service on a gross basis. In limited instances, the patient services are provided by visiting consultants, who are doctors/medical experts without labor contracts with the Group and not considered as the Group’s employees. As the visiting consultants have the discretion to take their patients to other hospital for the required treatment and set their own consultation fee charged to patients, the Group is an agent in such arrangement. The Group collects fees on behalf of the visiting consultants and records revenue at the net amounts as commissions. v. Medicine income includes medicine prescribed to patients during or after treatment by the doctors in the Group’s hospital business. The Group is a principal as it is primarily responsible for providing medicine to the patients and has pricing discretion. The Group generally records medicine income on a gross basis. |
Cost of revenue | Cost of revenue Network costs Network costs mainly consist of the amortization of acquired intangibles, depreciation of medical equipment purchased, installed and operated in the network of centers and other costs, including salaries and material costs of medical supplies. (1) Costs of lease and management service arrangements Cost of medical equipment that is leased under an operating lease is included in property, plant and equipment in the balance sheet. The medical equipment is depreciated using the Group’s depreciation policies. The cost of the management service component is recognized as an expense as incurred. (2) Cost of sales-type lease Cost of sales-type lease as a lessor is recorded as the carrying value of the underlying asset at lease commencement. (3) Cost of management services and technical services Cost of management services and technical services mainly include labor costs, and, where applicable, medical consumables and maintenance expenses which are expensed as incurred. (4) Cost of consumables sales Cost of equipment sales, recorded net against the related revenue, includes the cost of the consumables purchased and other direct costs involved in the consumables sales. Hospital costs Hospital costs mainly include medicine costs, medical consumables, labor costs of doctors, nurses and other staff involved in the care or treatment of patients, depreciation, hospital buildings rental fee, utilities as well as other related costs incurred in the normal business of a hospital. |
Advertising expenditure | Advertising expenditure Advertising costs are expensed when incurred and are included in selling expenses in the consolidated statements of comprehensive loss. For the years ended December 31, 2017, 2018 and 2019, the advertising expenses were RMB2,910, RMB2,429 and RMB7,510 (US$1,079), respectively. |
Income taxes | Income taxes The Group follows the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Group records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in tax expense in the period that includes the enactment date of the change in tax rate. The Group adopted ASC 740, Income Taxes ( “ASC 740” ), which clarifies the accounting and disclosure for uncertainty in income taxes. Interests and penalties arising from underpayment of income taxes shall be computed in accordance with the applicable tax laws. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interests and penalties recognized in accordance with ASC 740 is classified in the financial statements as a component of income tax expense. In accordance with the provisions of ASC 740, the Group recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Group’s estimated liability for unrecognized tax positions which are included in the “accrued expenses and other liabilities” account and “accrued unrecognized tax benefits and surcharges, non-current portion” accounts are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The outcome for a particular audit cannot be determined with certainty prior to the conclusion of the audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Group’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Group’s financial statements. Additionally, in future periods, changes in facts, circumstances, and new information may require the Group to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which the changes occur. On January 1, 2018, the Group adopted ASU No. 2016‑16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs using the modified retrospective adoption method. In 2015, Aohua Technology transferred 100% equity of Tianjin Concord Medical to Shanghai Medstar resulting in a deferred tax liability of RMB5,632. Upon the adoption of ASU 2016‑16, the deferred tax liability was reversed through an opening adjustment to accumulative deficit as of January 1, 2018. The cumulative effect of changes made to the Company’s consolidated balance sheet as of January 1, 2018 for the adoption of ASU 2016‑16 was as follows: Balance at December Adjustments Due to Balance at January 1, 31, 2017 ASU 2016‑16 2018 Liabilities: RMB RMB RMB Deferred tax liabilities 73,577 (5,632) 67,945 Equity: Accumulated deficit (879,393) 5,632 (873,761) |
Share-based compensation | Share-based compensation Share-based awards and restricted shares granted to employees are accounted for under ASC 718, Compensation-Stock Compensation (“ASC 718”). In accordance with ASC 718 , the Company determines whether a share option should be classified and accounted for as a liability award or equity award. All grants of share-based awards to employees classified as equity awards are recognized in the financial statements based on their grant date fair values which are calculated using an option pricing model. The Group has elected to recognize compensation expense using the straight-line method for all share options granted with graded vesting based on service conditions. To the extent the required vesting conditions are not met resulting in the forfeiture of the share-based awards, previously recognized compensation expense relating to those awards are reversed. Forfeitures were accounted as they occur. Share-based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share-based awards that are expected to vest. The Group adopted ASU 2018-07 on January 1, 2019 using the modified retrospective method and measures equity awards using their fair value on grant date. The impact of adopting the new standard was insignificant. |
Loss per share | Loss per share The Company computes earnings per Class A and Class B ordinary shares in accordance with ASC Topic 260, Earnings Per Share (“ASC 260”), using the two-class method. Under the provisions of ASC 260, basic earnings per share is computed using the weighted average number of ordinary shares outstanding during the period except that it does not include unvested ordinary shares subject to repurchase or cancellation. The Company adjusts for the accretion of the redeemable noncontrolling interests in the calculation of income available to ordinary shareholders of the Company used in the earnings per share calculation. Loss per share is computed in accordance with ASC 260, Earnings Per Share (“ASC 260”). Basic loss per ordinary share is computed by dividing loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period. Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of the ordinary shares issuable upon the conversion of the share-based awards, using the treasury stock method and the ordinary shares issuable upon the conversion of convertible debt instruments, using if-converted method. Ordinary share equivalents are excluded from the computation of diluted per share if their effects would be anti-dilutive. The liquidation and dividend rights of the holders of the Company’s Class A and Class B ordinary shares are identical, except with respect to voting rights. As a result, and in accordance with ASC 260, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B ordinary shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. For the purposes of calculating the Company’s basic and diluted earnings per Class A and Class B ordinary shares, the ordinary shares relating to the options that were exercised are assumed to have been outstanding from the date of exercise of such options. |
Comprehensive loss | Comprehensive loss Comprehensive loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income (“ASC 220”), requires that all items that are required to be recognized under current accounting standards as components of comprehensive loss be reported in a financial statement that is displayed with the same prominence as other financial statements. During the periods presented, the Group’s comprehensive loss includes net loss and foreign currency translation adjustments and is presented in the consolidated statements of comprehensive loss. |
Segment reporting | Segment reporting In accordance with ASC 280, Segment Reporting (“ASC 280”), the Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer, who is also the executive chairman of the board of directors. The Group’s CODM evaluates segment performance based on revenues and profit by the network and hospital segments. |
Recent accounting pronouncement | Recent adopted accounting pronouncement Adoption of ASU 2016-02 The Group adopted ASU 2016-02, Leases, and all subsequent ASUs relating to this Topic (collectively, "ASC 842") effective January 1, 2019. The Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to not reassess 1) whether expired or existing contracts are or contain leases, 2) lease classification for any expired or existing leases as of the adoption date and 3) initial direct costs for existing leases as of the adoption date. The Group elected to not separate lease and associated non-lease components if certain criteria are met as provided by ASU 2018-11. The Group also made an accounting policy election to exempt short-term leases of 12 months or less from balance sheet recognition requirements associated with the new standard. The Group will recognize fixed rental payments for these short-term leases as a straight-line expense over the lease term. Prior to adopting ASC 842, the Group accounted for the prepaid land use right in the PRC cost less accumulated amortization. The Group records amortization on a straight-line basis over the terms of the land use rights agreement of 50 years. Upon the adoption of ASC 842, operating leases related to land use right are subject to ASC 842 and right-of-use assets and lease liabilities are recognized on the consolidated balance sheet. The impact arising from the adoption of ASC 842 at January 1, 2019 for leases as lessee was as follows: Adjustment due to Balance as of the adoption of ASU Balance as of December 31, 2018 2016-02 January 1, 2019 Assets: Right-of-use assets, net — 529,843 529,843 Prepayments and other current assets 227,714 (1,186) 226,528 Prepaid land lease payments 438,323 (438,323) — Liabilities: Operating lease liabilities, current — 13,101 13,101 Operating lease liabilities, non-current — 77,233 77,233 Recent accounting pronouncement pending adoption In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13 is effective for annual reporting periods and interim periods beginning after December 15, 2019. In November 2018, the FASB issued Accounting Standards Update No. 2018-19—Codification Improvements to Topic 326, Financial Instruments—Credit Losses. The amendments clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326. Among other things, the amendments clarify the reference for purchased financial assets with credit deterioration in a business combination to ASC 326-20. The amendments have the same effective dates as ASU 2016-13 (Topic 326) for entities that have not yet adopted that standard. The Group is currently in the process of evaluating the impact of the adoption of ASU 2019-11 and does not expect any material impact on the consolidated statements as a result of adopting the new standard. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”) which eliminates, adds and modifies certain disclosure requirements for fair value measurements. Under the guidance, public companies will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance is effective for all entities for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years, but entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The Group does not expect any material impact on the consolidated statements as a result of adopting the new standard. In November 2019, the FASB issued ASU 2019-08, Codification Improvements – Share-Based Consideration Payable to a Customer. ASU 2019-08 requires entities to measure and classify share-based payments that are granted to a customer in conjunction with a revenue arrangement and are not in exchange for a distinct good or service in accordance with ASC 718. This guidance is effective for all PBEs and other entities that have adopted ASU 2018-07 in fiscal years beginning after December 15, 2019, including interim periods therein. Early adoption is permitted but cannot precede an entity’s adoption of ASU 2018-07. The Group does not expect any material impact on the consolidated statements as a result of adopting the new standard. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. ASU 2019-12 eliminates certain exceptions related to the approach for intra period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. This guidance is effective for PBEs for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. The Group does not expect any material impact on the consolidated statements as a result of adopting the new standard. |
ORGANIZATION AND BASIS OF PRE_2
ORGANIZATION AND BASIS OF PRESENTATION (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Subsidiaries | (a) Details of the Company’s principle subsidiaries as of December 31, 2019 are as follows: Percentage of Date of Place of ownership by Entities establishment/acquisition establishment the Company Principal activities Subsidiaries Ascendium Group Limited (“Ascendium”) September 10, 2007 British Virgin Islands (“BVI”) 100 % Investment holding China Medical Services Holdings Limited (“CMS Holdings”) July 18, 2008 Hong Kong 100 % Investment holding King Cheers Holdings Limited (“King Cheers”) May 18, 2001 Hong Kong 100 % Investment holding Shenzhen Aohua Medical Technology Development Co., Ltd. (“Aohua Technology ”) February 21, 2008 PRC 60 % Leasing of medical equipment and provision of management services Shanghai Medstar Financial Leasing Company Limited ("Shanghai Medstar") March 21, 2003 PRC 100 % Leasing of medical equipment and provision of management services Beijing MeizhongJiahe Hospital Management Co., Ltd. (“MHM”) * July 23, 2008 PRC 60 % Provision of management services Beijing Yundu Internet Technology Co., Ltd. (“Yundu”) July 26, 2007 PRC 60 % Provision of management services Tianjin Concord Medical Technology Limited (“Tianjin Concord Medical”) April 22, 2010 PRC 100 % Leasing of medical equipment and provision of management services Guangzhou Jinkangshenyou Investment Co., Ltd. (“JKSY”) August 12, 2010 PRC 100 % Leasing of medical equipment and provision of management services Guangzhou Concord Cancer Center Co., Ltd ("Guangzhou Concord Cancer Hospital") June 29, 2011 PRC 48 % Medical treatment and service business CCM (Hong Kong) Medical Investments Limited (“CCM (HK)”) June 03, 2013 Hong Kong 100 % Investment holding Shanghai Concord Cancer Center Co., Ltd (“SHC”) March 17, 2014 PRC 60.26 % Medical treatment and service business Datong Meizhong Jiahe Cancer Center (“DTMZ”) October 23, 2014 PRC 60 % Medical treatment and service business Wuxi Concord Medical Development Ltd. ("Wuxi Concord”) December 29, 2015 PRC 100 % Provision of management services Percentage of Date of Place of ownership by Entities establishment/acquisition establishment the Company Principal activities Beijing Concord Medical Technology Ltd.(“BJCMT”) January 4, 2016 PRC 100 % Provision of management services Guofu Huimei (Tianjin) Investment Management Partnership Firm (LP) (“Guofu Huimei”) (note 4) October 8, 2018 PRC 100 % Investment holding Beijing Century Friendship Science & Technology Development Co., Ltd (“Beijing Century Friendship”) (note 4) October 8, 2018 PRC 60 % Provision of management services and investment holding Beijing Proton Medical Center Co., Ltd (“BPMC”) (note 4) October 8, 2018 PRC 58 % Medical treatment and service business Shanghai Meizhong Jiahe Cancer Center Co., Ltd. (“CMCC”) (note 4) October 8, 2018 PRC 55.42 % Medical treatment and service business Tianjin Jiatai Entity Management Limited Partnership ("Tianjin Jiatai") (note 4) November 18,2019 PRC 100 % Investment holding Shanghai Rongchi Medical Management Limited ("SH Rongchi") (note 4) November 18,2019 PRC 99.90 % Investment holding and provision of management services Oriental Light Group Limited ("Oriental") (note 4) November 18,2019 BVI 99.90 % Investment holding Shanghai Meizhong Jiahe Imaging Diagnostic Center Co., Ltd. ("SH MZJH") (note 4) November 18,2019 PRC 93.15 % Medical treatment and service business Wuxi Meizhong Jiahe Cancer Center Co., Ltd. ("Wuxi MZJH") (note 4) November 18,2019 PRC 98.93 % Medical treatment and service business Heze Meizhong Jiahe Cancer Center Co., Ltd. ("Heze MZJH") (note 4) November 18,2019 PRC 100 % Medical treatment and service business ZR ConcordHealthcare Investment Fund SP (“SP”) November 2016 Cayman Islands 99.93 % Investment holding US Proton Therapy Holdings Limited (“Proton BVI”) May 16, 2011 BVI 99.93 % Investment holding US Proton Therapy Holdings Limited (“US Proton”) June 29, 2011 United States of America 99.93 % Investment holding Concord Medical Services (International) Pte. Ltd. (“China Medstar”) (formerly known as China Medstar Pte. Limited) August 8, 2003 Singapore 99.93 % Investment holding Concord Healthcare Singapore Pte. Ltd. (“CHS”) April 1, 2015 Singapore 99.93 % Medical treatment and service business *On March 26, 2018 and July 10, 2018, the Group entered into agreements with CICC Capital Management Company Limited (“CICC Capital”), a wholly-owned subsidiary of China International Capital Corporation Limited (“CICC”), and six other investors (“Other Investors”). Pursuant to the agreements, CICC Capital and Other Investors make a strategic investment and subscribe new issued 100,000,000 shares of the Group’s subsidiary MHM, with total consideration of RMB1,500,000 . CCIC Capital subscribes 60,000,000 shares of MHM while Other Investors subscribe 40,000,000 shares of MHM. |
Schedule of financial information | The following tables represent the financial information of the VIE and its subsidiaries as of December 31, 2018 and 2019 and for the years ended December 31, 2018 and 2019 before eliminating the intercompany balances and transactions between the VIE and its subsidiaries and other entities within the Group (the net revenue, net loss and cashflow information for the whole year 2019 instead of for the period from January 1 to November 18, 2019 was presented since the results are not materially different): As at December 31, 2018 2019 2019 RMB RMB US$ ASSETS Current assets: Cash 15,935 — — Accounts receivable 4,494 — — Inventories 1,946 — — Prepayments and other current assets 1,986 — — Amount due from inter-companies* 80,523 — — Total current assets 104,884 — — Non-current assets: Property, plant and equipment, net 281,395 — — Intangible assets, net 100 — — Long-term investments 31,496 — — Other non-current assets 464 — — Total non-current assets 313,455 — — Total assets 418,339 — — As at December 31, 2018 2019 2019 RMB RMB US$ Current liabilities: Accounts payable 462 — — Accrued expenses and other liabilities 42,681 — — Income tax payable 2,870 — — Total current liabilities 46,013 — — Non-current liabilities: Accrued unrecognized tax benefits and surcharge, non-current portion 20,208 — — Mandatorily redeemable noncontrolling interests 434,216 — — Total non-current liabilities 454,424 — — Total liabilities 500,437 — — For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net revenues 28,673 41,350 34,196 4,912 Net loss (141,188) (95,788) (114,225) (16,407) For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net cash used in operating activities (54,113) (260,884) (24,640) (3,539) Net cash generated from (used in) investing activities (5,582) 221,130 (10,107) (1,452) Net cash generated from financing activities 56,787 41,886 20,820 2,991 Exchange rate effect on cash, net 748 600 304 44 Decrease (increase) in cash and cash equivalents (2,160) 2,732 (13,623) (1,957) |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Schedule of Information Relating to Property, Plant and Equipment | Property, plant and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Estimated residual Category Estimated useful life value Buildings 20‑50 years — Medical equipment* 5‑20 years — Electronic and office equipment 3‑5 years — Motor vehicles 5 years — Leasehold improvement and building improvement shorter of lease term or 5 years — * The cost of the asset is amortized over the estimated useful life. However, if ownership is transferred at the end of the lease term, the cost of the asset is amortized over the shorter of customer contract or the useful life of the asset which ranges from 5 to 20 years. |
Schedule of estimated useful life for the intangible assets | The estimated useful life for the intangible assets is as follows: Estimated useful life Operating license 20 years Favorable leases 12-17 years Customer relationship 5‑16 years Operating leases 9‑16 years Software 3‑5 years |
Schedule of disaggregation of revenue | For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ ASC 606 revenue: Management services and technical services 46,143 50,291 48,416 6,954 Brand royalty fees 6,604 5,189 5,081 730 Consumable sales 7,005 5,867 9,482 1,362 Medical service 31,599 37,770 54,048 7,763 Medicine income 57 15,058 22,777 3,272 ASC 606 revenue 91,408 114,175 139,804 20,081 ASC 842 revenue: Operating lease income* 232,015 71,864 53,485 7,683 Sales-type lease income* — — 1,130 162 Direct financing lease income* 7,554 4,859 3,944 567 ASC 842 revenue 239,569 76,723 58,559 8,412 Total revenue 330,977 190,898 198,363 28,493 |
Schedule of cummulative effect of changes made to company's balance sheet | The cumulative effect of changes made to the Company’s consolidated balance sheet as of January 1, 2018 for the adoption of ASU 2016‑16 was as follows: Balance at December Adjustments Due to Balance at January 1, 31, 2017 ASU 2016‑16 2018 Liabilities: RMB RMB RMB Deferred tax liabilities 73,577 (5,632) 67,945 Equity: Accumulated deficit (879,393) 5,632 (873,761) |
Schedule of adoption of ASC 842 | The impact arising from the adoption of ASC 842 at January 1, 2019 for leases as lessee was as follows: Adjustment due to Balance as of the adoption of ASU Balance as of December 31, 2018 2016-02 January 1, 2019 Assets: Right-of-use assets, net — 529,843 529,843 Prepayments and other current assets 227,714 (1,186) 226,528 Prepaid land lease payments 438,323 (438,323) — Liabilities: Operating lease liabilities, current — 13,101 13,101 Operating lease liabilities, non-current — 77,233 77,233 |
ACQUISITIONS AND DISPOSALS (Tab
ACQUISITIONS AND DISPOSALS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Gain Realized on Disposal | RMB Fair value of retained noncontrolling investment 151,355 Disposition of net assets 92,501 Gain on disposal of Beijing Century Friendship and BPMC 58,854 |
Schedule of Reconciliation of total purchase consideration | The following is a reconciliation of the total purchase consideration for the acquisition: RMB - Cash consideration 421,730 - Fair value of previously hold equity interests 407,998 - Settlement of amounts due to Tianjin Jiatai Group (including the mandatorily redeemable noncontrolling interest in SP and purchase consideration of Wuxi MZJH) (675,854) - Settlement of advance from suppliers (94,530) - Settlement of other receivables 84,715 Total 144,059 |
Schedule of actual results from acquisition date | For the Years Ended December 31, 2019 RMB US$ Net revenues 366 53 Net loss (7,902) (1,135) |
JWYK [Member] | |
Schedule of Breakdown of Assets and Liabilities Attributed to Discontinued Operations | The carrying value of assets and liabilities of Beijing Century Friendship and BPMC as of April 6, 2017 (the date of disposal), are as follows: RMB Current assets 18,035 Deposit for operating license 109,581 Other non-current assets use 45 Current liabilities (35,152) Noncontrolling interests (8) Net assets disposed 92,501 |
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | RMB Current assets 47,827 Property, plant and equipment, net 17,297 Intangible assets* 454,013 Long term investments 300,504 Other non-current assets 108,322 Deferred tax assets 185 Goodwill 165,171 Current liabilities (61,454) Non-current liability (165,436) Deferred tax liabilities (113,340) Noncontrolling interests (99,480) Total 653,609 RMB Total purchase price is comprised of: - Cash consideration 570,600 - Fair value of previously hold equity interests 520,625 - Effective extinguishment of loans from the acquisition (437,616) Total 653,609 * Acquired amortizable intangible assets primarily include two operating licenses of hospitals of RMB164,440 and RMB272,910 respectively and a favorable lease contract of RMB16,010. The operating licenses have estimated amortization periods of 20 years and the favorable lease contract has estimated amortization periods of 12 years. The following unaudited supplemental pro forma consolidated financial information for the years ended December 31, 2017 and 2018 are presented as if the acquisition had occurred at the beginning of the periods presented. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what the combined company’s operating results would have been had the acquisition taken place on January 1, 2017, nor do they project the future results of operations of the combined company. The actual results of operations of the combined company may differ significantly from the pro forma adjustments reflected here due to many factors. Unaudited Supplemental Pro Forma For the year ended December 31, 2017 2018 RMB RMB Net revenues 4,569 12,056 Net loss (70,018) (63,159) The results of operations of Guofu Huimei, Beijing Century Friendship, BPMC and CMCC since the acquisition date included in the consolidated statement of comprehensive loss of the Company for the year ended December 31, 2018 is as follows: For the Years Ended December 31, 2018 RMB Net revenues 4,827 Net loss (5,639) |
Tianjin Jiatai Group [Member] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | RMB Current assets 9,451 Property, plant and equipment, net 53,649 Intangible assets 89,000 Goodwill 45,272 Current liabilities (31,063) Deferred tax liabilities (22,250) Total 144,059 The acquired intangible assets primarily include operating license for hospitals of RMB84,000 and a favorable lease contract of RMB5,000. The estimated amortization period of the operating licenses and favorable lease contract was 20 years and 17 years, respectively. The Group recognized RMB 45,272 (US$6,503) in goodwill arising from this acquisition, attributed to the synergies it expects from the combined operations of proton hospitals, the assembled workforce and their knowledge and experience in the PRC. The goodwill recognized is not deductible for income tax purposes. The following unaudited supplemental pro forma consolidated financial information for the years ended December 31, 2018 and 2019 are presented as if the acquisition had occurred at the beginning of the periods presented. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what the combined company’s operating results would have been had the acquisition taken place on January 1, 2018, nor do they project the future results of operations of the combined company. The actual results of operations of the combined company may differ significantly from the pro forma adjustments reflected here due to many factors. Unaudited Supplemental Pro Forma For the year ended December 31, 2018 2019 2019 RMB RMB US$ Net revenues 186,086 193,251 27,759 Net loss (376,130) (589,774) (84,716) |
ACCOUNTS RECEIVABLE (Tables)
ACCOUNTS RECEIVABLE (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
ACCOUNTS RECEIVABLE | |
Schedule of Accounts Receivable | As at December 31, 2018 2019 2019 RMB RMB US$ Accounts receivable 90,453 80,878 11,618 Allowance for doubtful accounts (3,585) (7,147) (1,027) Accounts receivable, net 86,868 73,731 10,591 The rollforward in the allowance for doubtful accounts were as follows: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Balance at the beginning of the year 57 12,969 3,585 515 Provisions for the year 14,840 1,303 4,510 648 Reversal of provisions from prior periods due to subsequent cash collection during the year — (709) (221) (32) Amounts written off during the year (1,928) (9,989) (734) (105) Foreign exchange gain or loss — 11 7 1 Balance at the end of the year 12,969 3,585 7,147 1,027 |
PREPAYMENTS AND OTHER CURRENT_2
PREPAYMENTS AND OTHER CURRENT ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
PREPAYMENTS AND OTHER CURRENT ASSETS | |
Schedule of Prepayments and Other Current Assets | Prepayments and other current assets consist of the following: As at December 31, Notes 2018 2019 2019 RMB RMB US$ Due from suppliers i) 10,751 5,957 856 Due from hospitals ii) 576 406 58 Loan receivables iii) 151,139 70,077 10,066 Advances to employees iv) 1,056 4,271 614 Receivables from disposal of medical equipment v) 69,410 120 17 Deferred expenses 50 — — Interest receivable 3,680 2,891 415 Dividend receivable 766 766 110 Tax refund vi) — 14,466 2,078 Others 5,084 4,927 708 242,512 103,881 14,922 Allowance for doubtful debts (14,798) (9,013) (1,295) 227,714 94,868 13,627 The Group records allowance for doubtful debts in “general and administrative expenses” in the consolidated statements of comprehensive loss. i) Amounts due from suppliers represented prepayments made for orders and returnable deposits of cancelled orders. The risk of loss arising from non-performance by or bankruptcy of suppliers is assessed prior to the order of the equipment. The Group has provided reserve for bad debt amounting to RMB4,798 and nil on the amounts due from suppliers as at December 31, 2018 and 2019, respectively. ii) Amounts due from hospitals represented interest-free advances to hospitals and the compensation to be received from hospitals for early termination. The Group has assessed the impact of such advances on revenue recognition at the outset of the arrangement and has concluded that they do not affect revenue recognition. The risk of loss arising from any failure of hospital customers to fulfill their financial obligations is assessed prior to making the advances and is monitored for recoverability on a regular basis by management. iii) Loan receivables represented the loans to other parties, including loans to related parties such as the Xi’an JiangyuanAndike Ltd. (“JYADK”) and Beijing Allcure Medical Information Technology Co., Ltd. (“Allcure Information”) of total amount of RMB15,118 and RMB12,173 (US$1,749) as at December 31, 2018 and 2019, and third parties of RMB136,021 and RMB57,904(US$8,317) as at December 31, 2018 and 2019, respectively. The Group recorded allowance for doubtful debts amounting to RMB10,000 and RMB9,000 (US$1,293) as of December 31, 2018 and 2019, respectively. The loans contributed to interest receivable of RMB454 and RMB2,891 (US$415) as at December 31, 2018 and 2019, respectively. iv) The advances to employees represented interest-free advance held by the Group’s employees to cover expenses of hospital customers. The risk of loss is assessed prior to making the advances and is monitored on a regular basis by management. Historically, the Group has not experienced any loss of such advances. v) Receivables from disposal of medical equipment represented the consideration to be received from several hospitals, which the Group entered into termination contracts with and disposed all leasing equipment to. vi) Tax refund represented the overpayment of tax that would be refund by Internal Revenue Service. The amount has been received subsequently in February 2020. |
INVENTORIES (Tables)
INVENTORIES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
INVENTORIES | |
Schedule of Inventory | As at December 31, 2018 2019 2019 RMB RMB US$ Medicine 2,196 2,625 377 Medical material 90 1,728 249 Low-value consumables 1,580 1,388 199 3,866 5,741 825 Less: inventory provision (510) (1,400) (201) 3,356 4,341 624 |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT, NET (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
PROPERTY, PLANT AND EQUIPMENT, NET | |
Schedule of Property, Plant and Equipment, Net | As at December 31, 2018 2019 2019 RMB RMB US$ Buildings 254,577 277,569 39,870 Medical equipment 404,050 458,843 65,909 Electronic and office equipment 19,564 20,983 3,014 Motor vehicles 2,993 2,993 430 Leasehold improvement and building improvements 14,050 80,922 11,624 Construction in progress 823,361 1,390,495 199,732 Total 1,518,595 2,231,805 320,579 Less: accumulated depreciation (275,627) (314,151) (45,125) Impairment charges (23,659) (18,793) (2,700) 1,219,309 1,898,861 272,754 |
LEASE (Tables)
LEASE (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Lease | |
Schedule of component lease receivables | As at December 31, 2018 2019 2019 RMB RMB US$ Current Account receivable - Operating lease 46,331 38,201 5,487 Account receivable - Sales-type lease — 675 97 Net investment in direct financing leases 29,638 35,240 5,062 Non-current Net investment in direct financing leases 42,977 27,084 3,890 Total 118,946 101,200 14,536 |
Schedule of component sales-type and direct financing leases | For the Year Ended December 31, 2019 Sales-type leases Direct financing Operating leases leases RMB US$ RMB US$ RMB US$ Selling loss recognized at the commencement date (21,229) (3,049) — — — — Interest income on net investment in the lease 1,130 162 3,944 — — Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease 1,130 162 — — — — Lease income relating to lease payments 53,485 7,683 Including: Income relating to variable lease payments not included in the measurement of lease receivable — — — — 45,887 6,591 |
Schedule of Net Investment in Direct Financing Leases | As at December 31, 2018 2019 2019 RMB RMB US$ Minimum lease payments to be received 83,079 68,520 9,842 Unearned income (10,464) (6,196) (890) Net investment in direct financing leases 72,615 62,324 8,952 Current 29,638 35,240 5,062 Non-current 42,977 27,084 3,890 Total 72,615 62,324 8,952 |
Schedule of future minimum lease payments to be received from such non-cancelable direct financing leases | Future minimum direct financing lease payments RMB US$ 2020 39,050 5,609 2021 17,138 2,462 2022 7,446 1,070 2023 3,003 431 2024 1,883 270 Above 5 years — — |
Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases | Future minimum operating lease payments RMB US$ 2020 8,972 1,289 2021 8,972 1,289 2022 7,886 1,133 2023 7,196 1,034 2024 5,496 789 Above 5 years 13,708 1,969 |
Schedule of components of lease cost | For the year ended December 31, 2019 RMB US$ Operating lease cost 32,002 4,597 Short term lease cost 625 90 Total 32,627 4,687 |
Schedule of cash flow and other information operating leases | For the year ended December 31, 2019 RMB US$ Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 18,491 2,656 ROU assets obtained in exchange for operating lease liabilities * 234,915 33,743 Weighted-average remaining lease terms (in years) 4 4 Weighted-average discount rate 4.87 % 4.87 % |
Summary of future minimum lease payments | Minimum Lease Payments RMB US$ Year ending December 31, 2020 25,362 3,643 2021 24,481 3,516 2022 20,654 2,967 2023 19,996 2,872 2024 19,306 2,773 Thereafter 256,158 36,796 Total future lease payments 365,957 52,567 Less: Imputed interest 134,256 19,285 Total lease liability balance 231,701 33,282 |
Schedule of prepaid land lease payments | As at December 31, 2018 2019 2019 RMB RMB US$ Prepaid land lease payment Right-of-use asset Right-of-use asset Land use rights 456,823 456,823 65,619 Less: accumulated amortization (18,500) (27,962) (4,017) Net carrying value 438,323 428,861 61,602 |
Schedule of estimated annual amortization expenses | Amortization RMB US$ 2020 9,462 1,359 2021 9,462 1,359 2022 9,462 1,359 2023 9,462 1,359 2024 9,462 1,359 |
GOODWILL (Tables)
GOODWILL (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
GOODWILL | |
Schedule of Goodwill | For the years ended December 31, 2017 2018 2019 RMB RMB RMB US$ Balance as of January 1 — — 165,171 23,725 Addition — 165,171 45,272 6,504 Impairment — — — — Balance as of December 31 — 165,171 210,443 30,229 |
INTANGIBLE ASSETS, NET (Tables)
INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
INTANGIBLE ASSETS, NET | |
Schedule of Acquired Intangible Assets | Intangible assets consist of the following: Customer Operating Operating Favorable relationship lease license lease intangibles intangibles intangibles intangibles Others Total RMB RMB RMB RMB RMB RMB Intangible assets, net at January 1, 2018 6,171 306 — — 1,322 7,799 Acquisition of subsidiaries (note4) — — 437,350 16,010 653 454,013 Addition of software — — — — 1,779 1,779 Disposal of centers (2,586) — — — — (2,586) Amortization expenses (558) (52) (2,056) (318) (1,177) (4,161) Intangible assets, net at December 31, 2018 3,027 254 435,294 15,692 2,577 456,844 Acquisition of subsidiaries (note4) — — 84,000 5,000 — 89,000 Addition of software — — — — 1,579 1,579 Disposal of centers (80) (7) — — — (87) Amortization expenses (125) (217) (8,717) (1,307) (1,629) (11,995) Intangible Asset impairment (2,822) (30) — — — (2,852) Intangible assets, net at December 31, 2019 — — 510,577 19,385 2,527 532,489 Intangible assets, net at December 31, 2019, in US$ — — 73,340 2,784 363 76,487 At December 31, 2019 Intangible assets, cost 45,157 14,707 521,350 21,010 17,963 620,187 Less: accumulated amortization (41,737) (14,677) (10,773) (1,625) (15,436) (84,248) Less: intangible asset impairment (3,420) (30) — — — (3,450) Intangible assets, net at December 31, 2019 — — 510,577 19,385 2,527 532,489 i) Amortization expenses for intangibles were RMB6,229, RMB4,161 and RMB11,995 (US$1,723) for the years ended December 31, 2017, 2018 and 2019, respectively. Impairment loss on intangible assets was RMB598, RMB nil and RMB2,852 (US$410)for network operating segment in several low performance centers and early termination centers as well as idle assets for the years ended December 31, 2017, 2018 and 2019, respectively. The estimated annual amortization expenses for the above intangible assets for each of the five succeeding years are as follows: |
Schedule of Estimated Annual Amortization Expenses | Amortization RMB US$ 2020 15,260 2,192 2021 19,358 2,781 2022 27,886 4,006 2023 27,640 3,970 2024 27,590 3,963 |
DEPOSITS FOR NON-CURRENT ASSE_2
DEPOSITS FOR NON-CURRENT ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
DEPOSITS FOR NON-CURRENT ASSETS | |
Schedule of Deposits for Non-Current Assets | As at December 31, 2018 2019 2019 RMB RMB US$ Deposits for purchases of property, plant and equipment* 668,698 717,392 103,047 Reserve for unrecoverable deposits (30,860) (93,260) (13,396) 637,838 624,132 89,651 * The amount represented interest-free non-refundable partial payments to suppliers of medical equipment and to construction engineering group for construction of hospitals. The remaining contractual obligations associated with these purchase contracts are approximately RMB660,758 and RMB622,584 (US$89,429) as at December 31, 2018 and 2019 respectively, which are included in the amount disclosed as purchase commitments in note 26. The Group recognized impairment loss on deposits for non-current assets of nil, nil and RMB62,400 (US$8,963) for the years ended December 31, 2017, 2018 and 2019, respectively. |
LONG-TERM INVESTMENTS (Tables)
LONG-TERM INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
LONG-TERM INVESTMENTS | |
Schedule Of Long Term Investments | Long-term investments held by the Group consisted of the following: As at December 31, 2018 2019 2019 RMB RMB US$ Equity investments without readily determinable fair value 22,160 22,160 3,183 Equity method investments 366,204 42,788 6,146 Less: Impairment loss — — — Total 388,364 64,948 9,329 |
Schedule Of Equity Investments Without Readily Determinable Fair Values | Equity investments without readily determinable fair value: Equity interest owned by the Group As at December 31, Note 2018 2019 Allcure Information i) 9.6 % 9.6 % |
Schedule of Equity Method Investments | Equity interest owned by the Group As at December 31, Notes 2018 2019 Xi’an JiangyuanAndike Ltd. (“JYADK”) 29.70 % 29.70 % PTC i) 59.51 % 59.51 % Suzhou Shengshan Huiying Venture Capital Investment LLP. (“Suzhou Shengshan”) ii) 5.41 % 5.15 % Suzhou Chorus Medical Technologies Co., Ltd. (“Suzhou Chorus”) iii) 36.00 % — Shanghai Meizhong Jiahe Imaging Diagnostic Center Co., Ltd. ("SH MZJH") iv) 43.23 % — Shanghai Rongchi Medical Management Co., Ltd. ("SH Rongchi") iv) 24.40 % — Tianjin Jiatai Enterprise Management Center (Limited Partnership) ("Tianjin Jiatai") iv) 22.82 % — Wuxi Meizhong Jiahe Cancer Center (“Wuxi MZJH”) v) 10.00 % — DTAP Adam Road PTE.LTD. (“DTAP”) vi) 49.00 % — i) On December 28, 2012, the Group acquired 44.55% limited partner interests of PTC, a limited partnership in Texas, U.S.A., and 45% legal interest of PTC GP Management LLC, a limited liability company registered in Texas, U.S.A and the sole general partner of PTC with 1% interest of PTC, with a consideration of RMB201,176 in cash. On July 31, 2015, the Group acquired additional 14.34% limited partner interests of PTC and additional 17.07% legal interest of PTC GP Management LLC, with a consideration of RMB30,063 in cash. After the additional investments, the Group owned 59.51% interests of PTC which ultimately holds 45.41% legal ownership interests of the University of Texas MD Anderson Cancer Center Proton Therapy Center (“MDA Proton”), a proton treatment center in Texas, U.S.A. In accordance with PTC GP Management LLC’s regulation, the Group is only entitled to designate two out of the five managers and simply majority (more than 50%) amongst the managers is required to pass any resolution. Furthermore, the regulation can only be amended at the request by managers or super majority (more than 2/3) of member interest. Thus, the Group is not able to control PTC GP Management LLC. According to the partnership agreements, the Group has significant influence over PTC which can demonstrate control over MDA Proton by acting as the sole general partner. On November 29, 2018, MDA Proton reached an agreement with University of Texas MD Anderson Cancer Center ("UTMDACC") to sell all its assets and liabilities to UTMDACC as well as terminating management service agreement between MDA Proton and PTC. Before the transaction, the Group accounts for its investment in PTC, and ultimately MDA Proton, under the equity method of accounting. The Group’s share of the net profit or loss of PTC, after accounting for the effect of the difference between the cost basis of the equity method investment and the underlying assets of the investee, was a gain of RMB17,697, RMB509 and nil for the years ended December 31, 2017, 2018 and 2019 respectively. Total cash distribution received by the Group from PTC was RMB6,227, RMB11,626 and nil for the years ended December 31, 2017, 2018 and 2019, respectively. The Group received the first installment of consideration RMB212,855 from PTC on dissolution between MDA Proton and PTC, leading to the disposal gain of RMB48,019 in 2018. The Group received the second and the third installments totaling RMB6,779 (US$973) in 2019 and the carrying amount of the equity investment remained RMB31,497 and RMB24,718 (US$3,551) as of December 31, 2018 and 2019. ii) In 2017, JKSY, a subsidiary of the Group, entered into a partnership agreement to subscribe for 8.13% interest in Suzhou Shengshan, a partnership engaged in equity and capital investment, with a subscription amount of RMB10,000. In 2018, with the subscribed capital injection from new investors, the equity interest JKSY shared in Suzhou Shengshan should be diluted to 4.57%. As the injection was only partially completed, the actual equity interest shared in Suzhou Shengshan was diluted to 5.41% as of December 31, 2018. In 2019, with the subscribed capital injection from new investors, the actual equity interest shared in Suzhou Shengshan was further diluted to 5.15% as of December 31, 2019. According to the partnership agreement, JKSY acts as a limited partner and has significant influence over Suzhou Shengshan's daily operation. iii) In 2015, the Group entered into a share transfer agreement with JWYK, which was controlled by one of the Group's directors. Pursuant to the agreements, the Group would sell 36% equity interest in Suzhou Chorus at a consideration of RMB4,320 to JWYK. The consideration was received by the Group in April 2016. The disposal of Suzhou Chorus was completed in 2019. iv) During 2019, Tianjin Jiatai made total capital injections amouting to RMB34,540 to SH MZJH, leading to Tianjin Jiatai’s equity interest on SH MZJH from 56.77% to 78.34%. On November 13, 2019, Guofu Huimei entered into agreements with ZR Guofu, pursuant to which ZR Guofu would withdraw its investment of 77.18% equity interests in Tianjin Jiatai at a consideration of RMB421,730 (US$60,578). Upon the completion of the transaction, Tianjin Jiatai and its subsidiaries, SH MZJH, Heze MZJH, SH Rongchi, Wuxi MZJH and Oriental became subsidiaries of the Group (note 4). v) On July 22, 2019, Wuxi Concord, a wholly-owned subsidiary of the Group, entered into an agreement with Tianjin Jiatai, to purchase all its 90% equity interests in Wuxi MZJH at a consideration of RMB27,000. After the acquisition, Wuxi MZJH became a wholly-owned subsidiary of the Group. On August 23, 2019, Wuxi Concord further injected capital of RMB82,110 to Wuxi MZJH. In December 2018, DTAP was set up and registered in Singapore by CHS and Republic Healthcare Holdings PTE.LTD (“RHHPL”), a third party of the Group. CHS subscribed to inject SG$0.49 to share 49% equity of DTAP, and accounted for the investment as joint venture according to the cooperation agreement. On July 11, 2019, CHS and RHHPL consented to discontinue the joint venture agreement and CHS’s subscription of 49% shares has transferred to RHHPL at SG$0.49 in the capital of DTAP. |
OTHER NON-CURRENT ASSETS (Table
OTHER NON-CURRENT ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
OTHER NON-CURRENT ASSETS | |
Schedule of Other Non-Current Assets | As at December 31, 2018 2019 2019 RMB RMB US$ Deferred cost 267 — — Deposit-long-term* 2,719 6,733 967 Long-term deferred assets 3,479 1,755 252 Advance to hospitals-non current** 1,260 1,433 206 Others 151 — — 7,876 9,921 1,425 * Impairment losses of RMB11,527 and RMB400 (US$57) were provided for the balances as at December 31, 2018 and 2019. ** Impairment losses of RMB1,642 and RMB330 (US$47) were provided for the balances as at December 31, 2018 and 2019. |
ACCRUED EXPENSES AND OTHER LI_2
ACCRUED EXPENSES AND OTHER LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
ACCRUED EXPENSES AND OTHER LIABILITIES | |
Schedule of Accrued Expenses and Other Liabilities | The components of accrued expenses and other liabilities are as follows: As at December 31, 2018 2019 2019 RMB RMB US$ Accrued expenses 44,621 81,407 11,693 Salaries and welfare payable 8,612 21,959 3,154 Business and other taxes payable 11,400 3,822 549 Payable to acquire the non-controlling interests of CCM (HK) — 44,963 6,459 Amount due to Tianjin Jiatai Group 36,151 — — MD Anderson consulting fee payable 51,029 41,478 5,958 Acquisition payable for investment in CMCC 116,922 12,657 1,818 Consideration advance from JWYK (note 15) 4,320 — — Advance from customers 19,250 3,190 458 Other payables 125,701 67,625 9,714 418,006 277,101 39,803 |
BANK AND OTHER BORROWINGS (Tabl
BANK AND OTHER BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instrument [Line Items] | |
Schedule of Bank and Other Borrowings | As at December 31, 2018 2019 2019 RMB RMB US$ Total bank and other borrowings 938,114 1,620,202 232,728 Comprised of: Short-term 396,520 285,500 41,010 Long-term, current portion 44,068 42,939 6,168 440,588 328,439 47,178 Long-term, non-current portion 497,526 1,291,763 185,550 938,114 1,620,202 232,728 |
Long-term Bank and Other Borrowings [Member] | |
Debt Instrument [Line Items] | |
Schedule of Maturities of Long-Term and Other Debt | RMB US$ Within one year 42,939 6,168 Between one and two years 118,905 17,080 Between two and three years 158,800 22,810 Between three and four years 184,432 26,492 Above four years 829,626 119,168 1,334,702 191,718 |
TAXATION (Tables)
TAXATION (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
TAXATION | |
Schedule of Income (Loss) from Continuing Operations Before Income Taxes | For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Non – PRC (193,212) (98,709) (127,243) (18,277) PRC (60,683) (126,537) (263,835) (37,898) (253,895) (225,246) (391,078) (56,175) |
Schedule of Income Tax Expense from Continuing Operations | For the Year Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Current tax expense (benefit) 5,105 43,209 (16,570) (2,380) Deferred tax expense (benefit) 26,684 (9,158) (22,416) (3,220) 31,789 34,051 (38,986) (5,600) |
Reconciliation of Differences Between Statutory Tax Rate and Effective Tax Rate | For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Loss before income taxes (253,895) (225,246) (391,078) (56,175) Income tax computed at the tax rate of 25% (63,474) (56,309) (97,770) (14,044) Effect of different tax rates in different jurisdictions 23,554 11,758 19,393 2,786 Non-deductible expenses 13,872 4,661 8,472 1,217 Non-taxable income (1,942) (7,322) (234) (34) Statutory income/(expense) — — 3,216 462 Interest and penalty — — (6,811) (978) Unrecognized tax positions (2,942) 41,122 — — Deferred tax expense — — 32,358 4,648 Changes of valuation allowance 48,089 45,112 41,868 6,014 Withholding tax 15,624 (4,971) (39,478) (5,671) Effect of tax rate change (992) — — — 31,789 34,051 (38,986) (5,600) |
Schedule of Deferred Taxes | The components of deferred taxes are as follows: As at December 31, 2018 2019 2019 RMB RMB US$ Deferred tax asset Net operating loss* 158,330 163,538 23,491 Depreciation and amortization 2,813 6,262 899 Property, plant and equipment impairment 8,750 9,433 1,355 Deposits for non-current assets 6,400 16,350 2,349 Allowance for net investment in financing lease 1,085 4,518 649 Allowance for doubtful accounts 14,132 11,391 1,636 Lease liabilities — 60,073 8,629 Other long-term assets 16,703 37,778 5,426 Equity investment 9,032 9,196 1,321 Others 527 1,891 272 Total deferred tax assets 217,772 320,430 46,027 less: Valuation allowance** (217,076) (260,850) (37,469) Net deferred tax assets 696 59,580 8,558 Deferred tax liabilities Withholding tax for PRC entities (39,495) — — Foreign exchange gain — (9,346) (1,342) Equity investment — (1,299) (187) Property, plant and equipment (415) (2,225) (320) Disposal of Beijing Century Friendship (3,126) (3,126) (449) Intangible assets (113,590) (132,566) (19,042) Deferred costs (67) — — Right-of-use assets — (53,362) (7,665) Capitalized interest (9,649) (19,179) (2,755) Others — (3,915) (562) Total deferred tax liabilities (166,342) (225,018) (32,322) Deferred tax assets, net — — — Deferred tax liabilities, net (165,646) (165,438) (23,764) * As of December 31, 2019, the Group had net operating losses from several of its PRC and oversea entities of RMB789,776 (US$113,444), which can be carried forward to offset future taxable profit. As per filed tax returns, the net operating loss from PRC entities will expire between 2020 to 2024. For the net operating loss from overseas entities, there is no limitation of expiration according to the statute of Hong Kong, Singapore and US. ** The Group records a valuation allowance on its deferred tax assets that is sufficient to reduce the deferred tax assets to an amount that is more likely than not to be realized. Future reversal of the valuation allowance will be recognized either when the benefit is realized or when it has been determined that it is more likely than not that the benefit in future earnings will be realized. |
Schedule of Movement of Valuation Allowance | For the Year Ended December 31, 2018 2019 2019 RMB RMB US$ Balance at the beginning of year (157,876) (217,076) (31,181) Change of valuation allowance in the current year (59,200) (43,773) (6,288) Balance at the end of year (217,076) (260,849) (37,469) |
Reconciliation of Accrued Unrecognized Tax Positions | The reconciliation of the beginning and ending amount of unrecognized tax benefits excluding the penalty and interest is as follows: For the Years Ended December 31, 2018 2019 2019 RMB RMB US$ Balance at the beginning of year 41,358 81,000 11,635 Additions based on tax positions related to the current year 30,043 21,238 3,050 Additions related to prior year tax position 9,676 548 79 Decreases related to prior year tax position — (2,810) (404) Decreases relating to expiration of applicable statute of limitation (920) (1,386) (199) Foreign currency translation 843 394 57 Balance at the end of year 81,000 98,984 14,218 |
SHARE-BASED AWARDS (Tables)
SHARE-BASED AWARDS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
SHARE-BASED AWARDS | |
Schedule of Assumptions Used | February 18, 2014 Risk-free interest rate 2.33 % Dividend yield 5 % Exercise multiple 2.5 Expected volatility range 39.03 % |
Schedule of Stock Options | The following table summarizes employee share options activities for the year ended December 31, 2019: Weighted Weighted- Weighted Average Average Average Remaining Aggregate Number of Exercise Grant-date Contractual Intrinsic Share Options Granted to Employees Shares Price Fair Value Term (Years) Value Outstanding, January 1, 2019 3,130,113 US$ 2.21 US$ 0.61 — Lapsed (355,884) US$ 3.55 US$ 1.25 — — Outstanding, December 31, 2019 2,774,229 US$ 2.04 US$ 0.65 — Exercisable at December 31, 2019 2,774,229 US$ 2.04 US$ 0.65 — |
Summary of Restricted Shares | Fair Value per Share at the Grant Grant Date Number of Awards date (US$) February 18, 2014 1,370,250 1.93 July 1, 2014 21,132 2.35 August 1, 2014 69,564 2.44 August 7, 2017 1,453,950 1.33 August 8, 2017 3,319,200 1.34 September 13, 2017 45,000 1.33 October 2, 2018 5,992,605 1.19 The Company recognizes the compensation expense on a straight-line basis over the requisite service period for the entire award. Restricted Shares activity for the year ended December 31, 2019 was as follows: Weighted Numbers average grant of shares date fair value RMB US$ Outstanding, January 1, 2019 11,573,802 1.32 Forfeited (83,250) 1.93 Exercised (63,618) 1.34 Outstanding, December 31, 2019 11,426,934 1.32 Exercisable, December 31, 2019 1,073,679 1.93 Expected to vest, December 31, 2019 10,353,255 1.25 |
Schedule of Share-Based Compensation Expense | For the Years ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ General and administrative expenses 10,099 9,173 17,673 2,539 Selling expenses 1,542 1,966 2,920 419 11,641 11,139 20,593 2,958 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue | |
Schedule of Deferred revenue Recognition | For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ ASC 606 revenue: Management services and technical services 46,143 50,291 48,416 6,954 Brand royalty fees 6,604 5,189 5,081 730 Consumable sales 7,005 5,867 9,482 1,362 Medical service 31,599 37,770 54,048 7,763 Medicine income 57 15,058 22,777 3,272 ASC 606 revenue 91,408 114,175 139,804 20,081 ASC 842 revenue: Operating lease income* 232,015 71,864 53,485 7,683 Sales-type lease income* — — 1,130 162 Direct financing lease income* 7,554 4,859 3,944 567 ASC 842 revenue 239,569 76,723 58,559 8,412 Total revenue 330,977 190,898 198,363 28,493 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
RELATED PARTY TRANSACTIONS | |
Schedule of Related Party Transactions | a) The Group had the following related party transactions for the years ended December 31, 2017, 2018 and 2019. For the Years ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Loan to: Tianjin Jiatai — 50 5,949 855 Wuxi MZJH — 460 1,640 236 SH MZJH — 1,000 28,002 4,022 — 1,510 35,591 5,113 Interest income from: JYADK 221 285 206 30 Loan from: Guofu Huimei 300,000 — — — Beijing Century Friendship 218,104 30,551 — — CMCC 41,010 13,408 — — Tianjin Jiatai 91,855 — — — Shanghai Huifu Technology Limited — 22,000 — — Wuxi MZJH — 1,850 — — SH Rongchi — 18,820 — — SH MZJH — 12,420 — — Cherrylane Investments Limited — 12,720 — — 650,969 111,769 — — Interest expense to: Tianjin Jiatai — 193 — — Guofu Huimei * 31,716 15,997 — — Cherrylane Investments Limited — — 151 22 31,716 16,190 151 22 Repayment to: Tianjin Jiatai — 36,420 34,540 4,961 Shanghai Huifu Technology Limited — 20,285 1,715 246 Cherrylane Investments Limited — 2,750 — — SH Rongchi — — 1,029 148 — 59,455 37,284 5,355 Repayment from: JYADK — — 1,485 213 SH MZJH — — 26,000 3,735 — — 27,485 3,948 Management service income from: Tianjin Jiatai 6,577 — — — SH MZJH — 4,810 5,081 730 CMCC 4,118 4,331 — — 10,695 9,141 5,081 730 * The interest expense paid to Guofu Huimei amounting to RMB15,997 and nil was capitalized in year 2018 and 2019. |
Schedule of Related Party Balances | a) The balances between the Group and its related parties as of December 31, 2018 and 2019 are listed below. As at December 31, 2018 2019 2019 RMB RMB US$ Due from related parties, current: JYADK 5,112 3,833 550 Allcure Information ** 9,000 — — SH MZJH 6,099 — — Wuxi MZJH 460 — — 20,671 3,833 550 Due to related parties, current Wuxi MZJH 1,850 — — SH MZJH 12,420 — — Shanghai Huifu Technology 1,715 — — Cherrylane Investments Limited — 10,120 1,454 15,985 10,120 1,454 Due to related parties, non-current SH Rongchi * 155,570 — — Cherrylane Investments Limited * 9,969 — — Tianjin Jiatai * 56,979 — — 222,518 — — * As at December 31, 2018 and 2019, the balance due to related parties, non-current is recorded in “Amount due to related parties, non-current portion” on the consolidated balance sheet. ** As at December 31, 2018 and 2019, the reserve for unrecoverable deposits are provided amounting to nil and RMB9,000 (US$1,293), which is recorded in "Prepayments and other current asset" (note7). |
SEGMENT REPORTING (Tables)
SEGMENT REPORTING (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
SEGMENT REPORTING | |
Schedule of segment information | Summarized information by segments for the years ended December 31, 2017, 2018 and 2019 is as follows: For the year ended December 31, 2019 Network Hospital Total RMB RMB RMB US$ Revenues from external customers 121,537 76,826 198,363 28,493 Cost of sales (77,131) (137,062) (214,193) (30,767) Gross profit (loss) 44,406 (60,236) (15,830) (2,274) For the year ended December 31, 2018 Network Hospital Total RMB RMB RMB Revenues from external customers 138,070 52,828 190,898 Cost of sales (79,266) (91,870) (171,136) Gross profit (loss) 58,804 (39,042) 19,762 For the year ended December 31, 2017 Network Hospital Total RMB RMB RMB Revenues from external customers 299,321 31,656 330,977 Cost of sales (166,407) (66,572) (232,979) Gross profit (loss) 132,914 (34,916) 97,998 As at December 31, 2018 2019 2019 RMB RMB US$ Segment assets Network 2,103,569 1,030,782 148,063 Hospital 2,481,825 3,266,663 469,227 Total segment assets 4,585,394 4,297,445 617,290 |
Schdeule of net revenue by country based upon the sales location that predominately represents the customer location | Net revenue by country is based upon the sales location that predominately represents the customer location. For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Revenues from PRC 302,304 149,548 164,167 23,581 Revenues from Singapore 28,673 41,350 34,196 4,912 Total revenues 330,977 190,898 198,363 28,493 |
Schdeule of total long-lived assets excluding financial instruments, intangible assets and deferred tax assets by country | Total long-lived assets excluding financial instruments, intangible assets, long-term investment and goodwill by country were as follows: As at December 31, 2018 2019 2019 RMB RMB US$ PRC 2,036,133 2,890,858 415,245 Singapore 281,495 280,970 40,359 Total long-lived assets 2,317,628 3,171,828 455,604 |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
LOSS PER SHARE | |
Schedule of Basic and Diluted Income Per Share | A reconciliation of net loss attributable to the Company in the consolidated statements of comprehensive loss to the numerator for the computation of basic and diluted loss per share for the years ended December 31, 2017, 2018 and 2019 is as follows: For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net loss attributable to Concord Medical Services Holdings Limited (284,320) (234,875) (307,049) (44,105) Accretion of contingently redeemable noncontrolling interests — (124,355) (245,477) (35,261) Numerator for EPS computation (284,320) (359,230) (552,526) (79,366) For the Years Ended December 31 2017 2018 2019 2019 Ordinary Shares Class A Class B Class A Class A Class B Class B RMB RMB RMB RMB USD RMB USD Numerator Net loss attributable to ordinary shareholders used in calculating loss per ordinary share – basic and diluted (284,320) (328,403) (30,827) (358,274) (51,463) (194,252) (27,903) Denominator: Weighted average number of ordinary shares outstanding used in calculating loss per share – basic and diluted 130,091,977 118,940,054 11,164,733 84,450,550 84,450,550 45,787,948 45,787,948 Loss per share – basic and diluted (2.19) (2.76) (2.76) (4.24) (0.61) (4.24) (0.61) The effects of share options and restricted shares have been excluded from the computation of diluted loss per share for the years ended December 31, 2017, 2018 and 2019 as their effects would be anti-dilutive. |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
FAIR VALUE MEASUREMENTS | |
Schedule of fair value measurements for each class of assets on nonrecurring basis | Fair Value Measurement at the End of the Reporting Period Using Quoted Prices in Active Markets for Significance Significant As of Identical Other Unobservable December 31, Assets Observable Inputs Total 2019 (Level 1) Inputs (Level 2) (Level 3) loss RMB US$ RMB RMB RMB RMB Description Nonrecurring fair value measurements Long-lived assets held and used 1,985 285 — — 1,985 (6,849) Fair Value Measurement at the End of the Reporting Period Using Quoted Prices in Active Markets for Significance Significant As of Identical Other Unobservable December 31, Assets Observable Inputs Total 2018 (Level 1) Inputs (Level 2) (Level 3) loss RMB RMB RMB RMB RMB Description Fair value measurements on a recurring basis: Available-for-sale debt investments 50,000 50,000 — — — Nonrecurring fair value measurements: Long-lived assets held and used 3,467 — — 3,467 (4,418) |
PARENT COMPANY ONLY CONDENSED_2
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | |
Condensed Balance Sheets | Condensed balance sheets As at December 31 2018 2019 2019 RMB RMB US$ ASSETS Current assets: Cash and cash equivalent 722 540 78 Amounts due from subsidiaries 503,087 404,213 58,061 Total current assets 503,809 404,753 58,139 Non-current assets: Investments in subsidiaries 1,623,996 1,154,986 165,903 Total assets 2,127,805 1,559,739 224,042 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term bank borrowings 249,202 — — Accrued expenses and other liabilities 29,310 55,409 7,959 Amounts due to subsidiaries 1,411,871 1,627,094 233,717 Total current liabilities 1,690,383 1,682,503 241,676 Total liabilities 1,690,383 Shareholders’ equity (deficit): Class A ordinary shares (par value of US$0.0001per share; authorized shares-500,000,000; issued shares-142,353,532 as of December 31, 2018 and 2019; outstanding shares-84,390,429 and 84,454,047 as of December 31, 2018 and 2019, respectively) 68 68 10 Class B ordinary shares (par value of US$0.0001per share; authorized shares‑45,787,948; issued shares-45,787,948 and 45,787,948 as of December 31, 2018 and 2019; outstanding shares- 45,787,948 and 45,787,948 as of December 31, 2018 and 2019, respectively) 37 37 5 Treasury stock (12,175,155 and 12,111,537 shares as of December 31, 2018 and 2019, respectively) (8) (8) (1) Additional paid-in capital 1,758,937 1,759,941 252,800 Accumulated other comprehensive loss (88,621) (97,285) (13,974) Accumulated deficit (1,232,991) (1,785,517) (256,474) Total shareholders’ equity (deficit) 437,422 (122,764) (17,634) Total liabilities and shareholders’ equity (deficit) 2,127,805 1,559,739 224,042 |
Condensed Statements of Comprehensive Loss | Condensed statements of comprehensive loss For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Revenues — — — — Cost of revenues — — — — General and administrative expenses (24,431) (17,051) (39,118) (5,619) Selling expenses (1,802) (2,021) (2,938) (422) Operating loss (26,233) (19,072) (42,056) (6,041) Equity in loss of subsidiaries (250,696) (333,682) (514,070) (73,842) Interest income — 14 1,977 284 Interest expense (7,554) (15,325) (6,481) (931) Foreign exchange gain 163 8,835 8,104 1,164 Net loss (284,320) (359,230) (552,526) (79,365) Other comprehensive income (loss), net of tax of nil foreign currency translation adjustments 40,550 (41,203) (8,664) (1,245) Total other comprehensive (loss) income 40,550 (41,203) (8,664) (1,245) Comprehensive loss (243,770) (400,433) (561,190) (80,610) |
Condensed Statements of Cash Flows | Condensed statements of cash flows For the Years Ended December 31, 2017 2018 2019 2019 RMB RMB RMB US$ Net cash used in operating activities (89,751) (5,024) (31,460) (4,520) Net cash (used in) generated from investing activities (21,452) 294,551 311,716 44,775 Net cash generated from(used in) financing activities 127,106 (284,824) (280,483) (40,289) Exchange rate effect on cash (35,017) (7,085) 45 7 Net decrease in cash (19,114) (2,382) (182) (27) Cash at beginning of the year 22,218 3,104 722 105 Cash at end of the year 3,104 722 540 78 |
ORGANIZATION AND BASIS OF PRE_3
ORGANIZATION AND BASIS OF PRESENTATION (Schedule of Subsidiaries) (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Ascendium Group Limited ("Ascendium") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Sep. 10, 2007 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Investment holding |
China Medical Services Holdings Limited ("CMS Holdings") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jul. 18, 2008 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Investment holding |
King Cheers Holdings Limited ("King Cheers") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | May 18, 2001 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Investment holding |
Shenzhen Aohua Medical Technology Development Co., Ltd. ("Aohua Technology ") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Feb. 21, 2008 |
Percentage of ownership by the Company | 60.00% |
Principal activities | Leasing of medical equipment and provision of management services |
Shanghai Medstar Financial Leasing Company Limited ("Shanghai Medstar") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Mar. 21, 2003 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Leasing of medical equipment and provision of management services |
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jul. 23, 2008 |
Percentage of ownership by the Company | 60.00% |
Principal activities | Provision of management services |
Beijing Yundu Internet Technology Co., Ltd. ("Yundu") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jul. 26, 2007 |
Percentage of ownership by the Company | 60.00% |
Principal activities | Provision of management services |
Tianjin Concord Medical Technology Limited ("Tianjin Concord Medical") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Apr. 22, 2010 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Leasing of medical equipment and provision of management services |
Guangzhou Jinkangshenyou Investment Co., Ltd. ("JKSY") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Aug. 12, 2010 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Leasing of medical equipment and provision of management services |
Guangzhou Concord Cancer Center GZ Proton [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jun. 29, 2011 |
Percentage of ownership by the Company | 48.00% |
Principal activities | Medical treatment and service business |
CCM (Hong Kong) Medical Investments Limited ("CCM (HK)") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jun. 3, 2013 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Investment holding |
Shanghai Concord Cancer Center SHC [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Mar. 17, 2014 |
Percentage of ownership by the Company | 60.26% |
Principal activities | Medical treatment and service business |
Datong Meizhong Jiahe Cancer Center ("DTMZ") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Oct. 23, 2014 |
Percentage of ownership by the Company | 60.00% |
Principal activities | Medical treatment and service business |
Wuxi Concord Medical Development Ltd.Wuxi Concord" [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Dec. 29, 2015 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Provision of management services |
Beijing Concord Medical Technology Ltd.("BJCMT") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jan. 4, 2016 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Provision of management services |
Guofu Huimei Tianjin investment management partnership [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Oct. 8, 2018 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Investment holding |
Beijing Century Friendship Science & Technology Development Co., Ltd ("Beijing Century Friendship") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Oct. 8, 2018 |
Percentage of ownership by the Company | 60.00% |
Principal activities | Provision of management services and investment holding |
Beijing Proton Medical Center Co Ltd [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Oct. 8, 2018 |
Percentage of ownership by the Company | 58.00% |
Principal activities | Medical treatment and service business |
Shanghai Meizhong Jiahe Cancer Centers Co Ltd [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Oct. 8, 2018 |
Percentage of ownership by the Company | 55.42% |
Principal activities | Medical treatment and service business |
Tianjin Jiatai Entity Management limited Partnership [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 18, 2019 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Investment holding |
Shanghai Rongchi Medical Management Limited [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 18, 2019 |
Percentage of ownership by the Company | 99.90% |
Principal activities | Investment holding and provision of management services |
Oriental Light Group Limited [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 18, 2019 |
Percentage of ownership by the Company | 99.90% |
Principal activities | Investment holding |
Shanghai Meizhong Jiahe Imaging Diagnostic Center Co Ltd [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 18, 2019 |
Percentage of ownership by the Company | 93.15% |
Principal activities | Medical treatment and service business |
Wuxi Meizhong Jiahe Cancer Center [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 18, 2019 |
Percentage of ownership by the Company | 98.93% |
Principal activities | Medical treatment and service business |
Heze Meizhong Jiahe Cancer Center Co Ltd [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 18, 2019 |
Percentage of ownership by the Company | 100.00% |
Principal activities | Medical treatment and service business |
ZR ConcordHealthcare Investment Fund SP ("SP") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Nov. 1, 2016 |
Percentage of ownership by the Company | 99.93% |
Principal activities | Investment holding |
US Proton Therapy Holdings Limited ("US Proton") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Jun. 29, 2011 |
Percentage of ownership by the Company | 99.93% |
Principal activities | Investment holding |
US Proton Therapy Holdings Limited ("Proton BVI") [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | May 16, 2011 |
Percentage of ownership by the Company | 99.93% |
Principal activities | Investment holding |
Concord Medical Services (International) Pte. Ltd. ("China Medstar") (formerly known as China Medstar Pte. Limited) [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Aug. 8, 2003 |
Percentage of ownership by the Company | 99.93% |
Principal activities | Investment holding |
Concord Healthcare Singapore Pte. Ltd. CHS" [Member] | |
Subsidiary or Equity Method Investee [Line Items] | |
Date of establishment/acquisition | Apr. 1, 2015 |
Percentage of ownership by the Company | 99.93% |
Principal activities | Medical treatment and service business |
ORGANIZATION AND BASIS OF PRE_4
ORGANIZATION AND BASIS OF PRESENTATION (Schedule of financial information) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
Current assets: | |||||
Cash | $ 10,674 | ¥ 404,742 | ¥ 74,307 | ||
Accounts receivable (net of allowance of RMB278 (US$40) as of December 31, 2019) | 10,591 | 86,868 | 73,731 | ||
Accounts receivable, allowance | 1,027 | 3,585 | 7,147 | ||
Inventories | 624 | 3,356 | 4,341 | ||
Amounts due from inter-companies | 550 | 20,671 | 3,833 | ||
Total current assets | 40,578 | 1,228,692 | 282,487 | ||
Non-current assets: | |||||
Property, plant and equipment, net | 272,754 | 1,219,309 | 1,898,861 | ||
Right of use assets, net | 92,947 | 0 | 647,080 | ||
Long-term Investments | 9,329 | 388,364 | 64,948 | ||
Other non-current assets | 1,425 | 7,876 | 9,921 | ||
Total non-current assets | 576,712 | 3,356,702 | 4,014,958 | ||
Total assets | 617,290 | 4,585,394 | 4,297,445 | ||
Current liabilities: | |||||
Accounts payable | 1,189 | 5,438 | 8,275 | ||
Accrued expenses and other liabilities | 39,803 | 418,006 | 277,101 | ||
Income tax payable | 108 | 3,762 | 752 | ||
Amount due to inter-companies | 1,454 | 15,985 | 10,120 | ||
Total current liabilities | 90,129 | 870,265 | 627,451 | ||
Non-current liabilities: | |||||
Mandatorily redeemable noncontrolling interests | 0 | 434,216 | 0 | ||
Operating lease liabilities non-current | 31,431 | 0 | 218,817 | ||
Total non-current liabilities | 255,789 | 1,441,248 | 1,780,756 | ||
Total liabilities | 345,918 | 2,311,513 | 2,408,207 | ||
Net Revenues | 28,493 | ¥ 198,363 | 190,898 | ¥ 330,977 | |
Net loss | (50,575) | (352,092) | (259,297) | (285,684) | |
Net cash (used in) operating activities | (28,058) | (195,347) | (38,591) | 26,732 | |
Net cash generated from (used in) investing activities | (153,913) | (1,071,507) | (1,000,355) | (313,010) | |
Net cash generated from financing activities | 73,726 | 513,268 | 1,203,042 | 189,899 | |
Effect of foreign exchange rate changes on cash and cash equivalent and restricted cash | 166 | 1,161 | 459 | 157 | |
Net (decrease) increase in cash | (108,079) | (752,425) | 164,555 | (96,222) | |
Variable Interest Entity, Primary Beneficiary [Member] | |||||
Current assets: | |||||
Cash | 15,935 | ||||
Accounts receivable (net of allowance of RMB278 (US$40) as of December 31, 2019) | 4,494 | ||||
Inventories | 1,946 | ||||
Prepayments and other current assets | 1,986 | ||||
Amounts due from inter-companies | 80,523 | ||||
Total current assets | 104,884 | ||||
Non-current assets: | |||||
Property, plant and equipment, net | 281,395 | ||||
Intangible assets, net | 100 | ||||
Long-term Investments | 31,496 | ||||
Other non-current assets | 464 | ||||
Total non-current assets | 313,455 | ||||
Total assets | 418,339 | ||||
Current liabilities: | |||||
Accounts payable | 0 | 462 | 0 | ||
Accrued expenses and other liabilities | 0 | 42,681 | 0 | ||
Income tax payable | 0 | 2,870 | 0 | ||
Total current liabilities | 0 | 46,013 | 0 | ||
Non-current liabilities: | |||||
Accrued unrecognized tax benefits & surcharge, non current portion | 0 | 20,208 | 0 | ||
Mandatorily redeemable noncontrolling interests | 0 | 434,216 | 0 | ||
Total non-current liabilities | 0 | 454,424 | 0 | ||
Total liabilities | 0 | 500,437 | ¥ 0 | ||
Net Revenues | 4,912 | 34,196 | 41,350 | 28,673 | |
Net loss | (16,407) | (114,225) | (95,788) | (141,188) | |
Net cash (used in) operating activities | (3,539) | (24,640) | (260,884) | (54,113) | |
Net cash generated from (used in) investing activities | (1,452) | (10,107) | 221,130 | (5,582) | |
Net cash generated from financing activities | 2,991 | 20,820 | 41,886 | 56,787 | |
Effect of foreign exchange rate changes on cash and cash equivalent and restricted cash | 44 | 304 | 600 | 748 | |
Net (decrease) increase in cash | $ (1,957) | ¥ (13,623) | ¥ 2,732 | ¥ (2,160) |
ORGANIZATION AND BASIS OF PRE_5
ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Details) ¥ in Thousands, $ in Thousands | Nov. 13, 2019USD ($) | Nov. 13, 2019CNY (¥) | Jul. 10, 2018shares | Apr. 06, 2017CNY (¥) | Jul. 31, 2018CNY (¥) | Jun. 30, 2018CNY (¥) | Nov. 30, 2017CNY (¥) | Apr. 30, 2017CNY (¥) | Nov. 30, 2016CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016shares | Dec. 31, 2015shares | Dec. 31, 2019CNY (¥) | Nov. 18, 2019CNY (¥) | Jul. 22, 2019CNY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2019CNY (¥) | Jun. 29, 2018 |
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Capital Contributed | ¥ 10,000 | ||||||||||||||||||||
Capital injected amount | ¥ 0 | ¥ 1,500,000 | 0 | ||||||||||||||||||
Stock Repurchased During Period, Shares | shares | 967,408 | 614,033 | |||||||||||||||||||
Payments to Acquire Equity Method Investments | $ 0 | 0 | 15,000 | 97,799 | |||||||||||||||||
Equity Method Investments | 6,146 | 366,204 | ¥ 42,788 | ||||||||||||||||||
Common Unit Value Authorized | 1,009,000 | ||||||||||||||||||||
Allowance for Doubtful Accounts Receivable, Current | 1,027 | 3,585 | 7,147 | ||||||||||||||||||
Mandatorily redeemable noncontrolling interest | $ 0 | ¥ 434,216 | ¥ 0 | ||||||||||||||||||
Guofu Huimei Investment Management Limited Partnership [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Equity Method Investments | ¥ 746,000 | ||||||||||||||||||||
ZR Group [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of Ownership in Equity Interest To Be Repurchased | 75.00% | ||||||||||||||||||||
Consideration To Be Made on Acquisition of Equity Interest | ¥ 521,396 | ||||||||||||||||||||
ZR Group [Member] | ZR ConcordHealthcare Investment Fund SP ("SP") [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Consideration To Be Made on Acquisition of Equity Interest | ¥ 521,396 | ||||||||||||||||||||
Creditor's rights settled for acquisition of equity interest | 166,299 | ||||||||||||||||||||
Business Combination, Consideration Transferred | 7,500 | ||||||||||||||||||||
ZR Guofu [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interest withdrawn | 77.18% | 77.18% | |||||||||||||||||||
Consideration | $ 60,578 | ¥ 421,730 | |||||||||||||||||||
Period of equity interest repurchased | 4 years | ||||||||||||||||||||
Creditor's rights settled for acquisition of equity interest | ¥ 97,106 | ||||||||||||||||||||
Consideration for repurchase of equity interest | ¥ 521,396 | ||||||||||||||||||||
Annual Premium Percentage to be Paid | 15.00% | ||||||||||||||||||||
Partners' Capital Account, Contributions | 746,001 | ||||||||||||||||||||
Percentage Of Interest In Partnership | 73.93% | 73.93% | |||||||||||||||||||
ZR Guofu [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Partners' Capital Account, Contributions | ¥ 746,000 | ||||||||||||||||||||
Shanghai Rongchi Medical Management Limited [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Common Unit Value Authorized | ¥ 695,305 | ||||||||||||||||||||
The Group [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Partners' Capital Account, Contributions | 262,999 | ||||||||||||||||||||
Percentage Of Interest In Partnership | 26.07% | 26.07% | |||||||||||||||||||
SH MZJH | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Capital Contributed | ¥ 34,540 | ||||||||||||||||||||
Percentage of equity interest sold | 56.77% | 78.34% | 78.34% | ||||||||||||||||||
Business Combination, Consideration Transferred | 27,000 | ||||||||||||||||||||
SH MZJH | ZR ConcordHealthcare Investment Fund SP ("SP") [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Creditor's rights settled for acquisition of equity interest | ¥ 82,100 | ||||||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interest sold | 100.00% | 21.69% | |||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 78.31% | ||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 388,500 | ||||||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 388,500 | ||||||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | Private Placement [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Sale of Stock, Percentage of Ownership after Transaction | 85.34% | 85.34% | |||||||||||||||||||
Shanghai Meizhongjiahe ProMed Cancer Centers Co., Ltd [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interest sold | 90.00% | ||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 54.80% | ||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 182,100 | ||||||||||||||||||||
Tianjin Jiatai Entity Management limited Partnership [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 28.77% | ||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 106,500 | ||||||||||||||||||||
SH MZJH | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Capital Contributed | $ 5,105 | ¥ 34,540 | |||||||||||||||||||
Percentage of equity interest sold | 56.77% | 78.34% | 78.34% | ||||||||||||||||||
CCM (Hong Kong) Medical Investments Limited ("CCM (HK)") [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | |||||||||||||||||||
Equity interest (as a percent) | 100.00% | 100.00% | |||||||||||||||||||
Zhongjin Jiatai [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 60.00% | 60.00% | |||||||||||||||||||
Equity interest (as a percent) | 60.00% | 60.00% | |||||||||||||||||||
Shanghai Medstar Financial Leasing Company Limited ("Shanghai Medstar") [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | |||||||||||||||||||
Equity interest (as a percent) | 100.00% | 100.00% | |||||||||||||||||||
Beijing Proton Medical Center Co Ltd [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 58.00% | 58.00% | |||||||||||||||||||
Percentage of equity interest sold | 80.00% | ||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 55.00% | ||||||||||||||||||||
Equity interest (as a percent) | 58.00% | 58.00% | |||||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 42.10% | ||||||||||||||||||||
Equity interest (as a percent) | 42.10% | ||||||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 78.31% | ||||||||||||||||||||
Tianjin Jiatai Group [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Capital Contributed | ¥ 27,000 | ||||||||||||||||||||
Percentage of equity interest sold | 90.00% | ||||||||||||||||||||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | ¥ 434,216 | ||||||||||||||||||||
Tianjin Concord Medical Technology Limited ("Tianjin Concord Medical") [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | |||||||||||||||||||
Equity interest (as a percent) | 100.00% | 100.00% | |||||||||||||||||||
Tianjin Jiatai Entity Management limited Partnership [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | |||||||||||||||||||
Equity interest (as a percent) | 100.00% | 100.00% | |||||||||||||||||||
Guangzhou Concord Medical Cancer Hospital Co Ltd [Member] | ZR Guofu [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of Shares Acquire for Business | 70.00% | ||||||||||||||||||||
PTC Houston Management [Member] | ZR Guofu [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of Shares Acquire for Business | 59.51% | ||||||||||||||||||||
CCM Hospital Business [Member] | ZR Guofu [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of Shares Acquire for Business | 100.00% | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 1,500,000 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 100,000,000 | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage Of Interest In Partnership | 78.31% | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | Shanghai Meizhongjiahe ProMed Cancer Centers Co., Ltd [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 182,100 | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | CCIC Capital [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 60,000,000 | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | Other Investor [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 40,000,000 | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | Beijing Proton Medical Center Co Ltd [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 55.00% | ||||||||||||||||||||
Equity interest (as a percent) | 55.00% | ||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 388,500 | ||||||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | Shanghai Meizhong Jiahe Cancer Center Co Ltd [Member] | |||||||||||||||||||||
Noncontrolling Interest [Line Items] | |||||||||||||||||||||
Percentage of equity interests acquired | 54.80% | ||||||||||||||||||||
Equity interest (as a percent) | 54.80% |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Information Relating to Property, Plant and Equipment) (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Buildings [Member] | Minimum | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 20‑50 |
Medical Equipment [Member] | Minimum | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5‑20 |
Electronic and Office Equipment [Member] | Minimum | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3‑5 |
Motor Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | P5Y |
Leasehold Improvement and Building Improvement [Member] | Maximum | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | P5Y |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of estimated useful life for the intangible assets) (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Operating license [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 20 years |
Favorable leases [Member] | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 12 years |
Favorable leases [Member] | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 17 years |
Customer relationship [Member] | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 5 years |
Customer relationship [Member] | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 16 years |
Operating leases [Member] | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 9 years |
Operating leases [Member] | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 16 years |
Software [Member] | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 3 years |
Software [Member] | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 5 years |
SUMMARY OF SIGNIFICANT ACCOUN_6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Summary of revenue recognized) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
Topic 606 revenue | $ 20,081 | ¥ 139,804 | ¥ 114,175 | ¥ 91,408 |
Out of scope of Topic 606 revenue | $ 8,412 | ¥ 58,559 | ¥ 76,723 | ¥ 239,569 |
SUMMARY OF SIGNIFICANT ACCOUN_7
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Adoption of ASU) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Jan. 01, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) |
Liabilities [Abstract] | ||||||
Deferred tax liabilities | $ 23,764 | ¥ 165,438 | ¥ 165,646 | |||
SHAREHOLDERS' EQUITY | ||||||
Accumulated deficit | $ (256,474) | ¥ (1,785,517) | ¥ (1,232,991) | |||
Accounting Standards Update 2016-16 [Member] | ||||||
Liabilities [Abstract] | ||||||
Deferred tax liabilities | ¥ (5,632) | |||||
SHAREHOLDERS' EQUITY | ||||||
Accumulated deficit | ¥ 5,632 | |||||
Previously Reported [Member] | ||||||
Liabilities [Abstract] | ||||||
Deferred tax liabilities | ¥ 73,577 | |||||
SHAREHOLDERS' EQUITY | ||||||
Accumulated deficit | ¥ (879,393) | |||||
Restatement Adjustment [Member] | ||||||
Liabilities [Abstract] | ||||||
Deferred tax liabilities | ¥ 67,945 | |||||
SHAREHOLDERS' EQUITY | ||||||
Accumulated deficit | ¥ (873,761) |
SUMMARY OF SIGNIFICANT ACCOUN_8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Adoption of ASU-842 (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right of use assets, net | $ 92,947 | ¥ 647,080 | ¥ 0 |
Prepayments and other current assets | 13,627 | 94,868 | 227,714 |
Decrease in prepaid land lease payments | 0 | 0 | 438,323 |
Total assets | 617,290 | 4,297,445 | 4,585,394 |
Increase in lease liabilities, current | 1,851 | 12,884 | 0 |
Increase in lease liabilities, noncurrent | 31,431 | 218,817 | 0 |
Decrease in other payables | 15,044 | 104,738 | 121,342 |
Total liabilities | $ 345,918 | 2,408,207 | 2,311,513 |
ASU 2016-02 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right of use assets, net | 529,843 | ||
Prepayments and other current assets | 226,528 | 227,714 | |
Decrease in prepaid land lease payments | ¥ 438,323 | ||
Increase in lease liabilities, current | 13,101 | ||
Increase in lease liabilities, noncurrent | 77,233 | ||
ASU 2016-02 [Member] | Restatement Adjustment [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right of use assets, net | 529,843 | ||
Prepayments and other current assets | (1,186) | ||
Decrease in prepaid land lease payments | (438,323) | ||
Increase in lease liabilities, current | 13,101 | ||
Increase in lease liabilities, noncurrent | ¥ 77,233 |
SUMMARY OF SIGNIFICANT ACCOUN_9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Noon buying rate | 6.9618 | 6.9618 | |||
Description of Items to be Classified as Cash Equivalents | P90D | P90D | |||
Net loss | $ (50,575) | ¥ (352,092) | ¥ (259,297) | ¥ (285,684) | |
Net cash used in operating activities | (28,058) | (195,347) | (38,591) | 26,732 | |
Net current liabilities | 49,551 | ¥ 344,964 | |||
Interest Costs Incurred | 15,846 | 110,319 | 101,717 | 128,492 | |
Interest and other costs relating to construction capitalized | 11,724 | 81,619 | 55,485 | 38,533 | |
Impairment on long-lived assets | 10,930 | 76,089 | 5,433 | 28,600 | |
Advertising expenses | 1,079 | 7,510 | 2,429 | 2,910 | |
Deferred Tax Liabilities, Loss Transfer | 1,342 | ¥ 0 | ¥ 5,632 | ¥ 9,346 | |
Cash inflows from credit facilities | $ 29,734 | 207,000 | |||
Offices and facility under leases | Minimum | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Lessee, Operating Lease, Term of Contract | 1 year | 1 year | |||
Lessee, Finance Lease, Term of Contract | 1 year | 1 year | |||
Offices and facility under leases | Maximum | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Lessee, Operating Lease, Term of Contract | 18 years | 18 years | |||
Lessee, Finance Lease, Term of Contract | 18 years | 18 years | |||
Land use rights under leases | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Lessee, Operating Lease, Term of Contract | 50 years | 50 years | |||
Lessee, Finance Lease, Term of Contract | 50 years | 50 years | |||
Equipment leased to others | Minimum | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Lessor, Sales-type Lease, Term of Contract | 5 years | 5 years | |||
Lessor, Direct Financing Lease, Term of Contract | 5 years | 5 years | |||
Equipment leased to others | Maximum | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Lessor, Sales-type Lease, Term of Contract | 20 years | 20 years | |||
Lessor, Direct Financing Lease, Term of Contract | 20 years | 20 years | |||
CITIC Industrial [Member] | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Cash inflows from investment | $ 100,549 | 700,000 | |||
Cash inflows from credit facilities | $ 80,066 | ¥ 557,400 |
CONCENTRATION OF RISKS (Narrati
CONCENTRATION OF RISKS (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Concentration Risk [Line Items] | |||
Concentration risk percentage | 10.00% | ||
Foreign currency exchange rate risk | |||
Appreciation and depreciation of the RMB against US dollar (as a percent) | 1.30% | 5.70% | (6.30%) |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 34.60% | 35.00% | 32.70% |
Supplier Concentration Risk [Member] | Cost of Goods, Total [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 97.00% | 90.00% | 95.00% |
ACQUISITIONS AND DISPOSALS (Sch
ACQUISITIONS AND DISPOSALS (Schedule of Assets and Liabilities of Beijing Century Friendship and Bpmc) (Details) ¥ in Thousands | Apr. 06, 2017CNY (¥) |
ACQUISITIONS AND DISPOSALS | |
Current assets | ¥ 18,035 |
Deposite for operating license | 109,581 |
Other non-current assets | 45 |
Current liabilities | (35,152) |
Noncontrolling interests | (8) |
Net assets disposed | ¥ 92,501 |
ACQUISITIONS AND DISPOSALS (S_2
ACQUISITIONS AND DISPOSALS (Schedule of Gain Realized on Deemed Disposal) (Details) ¥ in Thousands | Apr. 06, 2017CNY (¥) |
ACQUISITIONS AND DISPOSALS | |
Fair value of retained noncontrolling investment | ¥ 151,355 |
Disposition of net assets | 92,501 |
Gain on disposal of Beijing Century Friendship and BPMC | ¥ 58,854 |
ACQUISITIONS AND DISPOSALS (S_3
ACQUISITIONS AND DISPOSALS (Schedule of purchase price as of the date of acquisition) (Details) ¥ in Thousands, $ in Thousands | Nov. 18, 2019CNY (¥) | Oct. 08, 2018CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 30,229 | ¥ 210,443 | $ 23,725 | ¥ 165,171 | ||
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | ¥ 47,827 | |||||
Property, plant and equipment, net | 17,297 | |||||
Intangible assets | 454,013 | |||||
Long term investments | 300,504 | |||||
Other non-current assets | 108,322 | |||||
Deferred tax assets | 185 | |||||
Goodwill | 165,171 | |||||
Current liabilities | (61,454) | |||||
Non-current liability | (165,436) | |||||
Deferred tax liabilities | (113,340) | |||||
Non-controlling interests | (99,480) | |||||
Total | 653,609 | |||||
Total purchase price is comprised of [Abstract] | ||||||
- Cash consideration | 570,600 | |||||
- Fair value of previously hold equity interests | 520,625 | |||||
- Settlement of amounts | (437,616) | |||||
Total | ¥ 653,609 | |||||
Tianjin Jiatai Group [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Current assets | ¥ 9,451 | |||||
Property, plant and equipment, net | 53,649 | |||||
Intangible assets | 89,000 | |||||
Goodwill | 45,272 | |||||
Current liabilities | (31,063) | |||||
Deferred tax liabilities | (22,250) | |||||
Total | 144,059 | |||||
Total purchase price is comprised of [Abstract] | ||||||
- Cash consideration | 421,730 | |||||
- Fair value of previously hold equity interests | 407,998 | |||||
- Settlement of amounts | (675,854) | |||||
- Settlement of advance to suppliers | (94,530) | |||||
- Settlement of other receivable | 84,715 | |||||
Total | ¥ 144,059 |
ACQUISITIONS AND DISPOSALS (S_4
ACQUISITIONS AND DISPOSALS (Schedule of Pro forma Results) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Tianjin Jiatai, SH Rongchi, Oriental, Heze MZJH, Wuxi MZJH And SH MZJH [Member] | |||
Business Acquisition [Line Items] | |||
Net revenues | $ 27,759 | ¥ 193,251 | ¥ 186,086 |
Net profit (loss) | $ (84,716) | (589,774) | (376,130) |
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | |||
Business Acquisition [Line Items] | |||
Net revenues | 12,056 | 4,569 | |
Net profit (loss) | ¥ (63,159) | ¥ (70,018) |
ACQUISITIONS AND DISPOSALS (S_5
ACQUISITIONS AND DISPOSALS (Schedule of Actual Results from Acquisition Date) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Tianjin Jiatai, SH Rongchi, Oriental, Heze MZJH, Wuxi MZJH And SH MZJH [Member] | |||
Business Acquisition [Line Items] | |||
Net revenues | $ 53 | ¥ 366 | |
Net loss | $ (1,135) | ¥ (7,902) | |
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | |||
Business Acquisition [Line Items] | |||
Net revenues | ¥ 4,827 | ||
Net loss | ¥ (5,639) |
ACQUISITIONS AND DISPOSALS (Nar
ACQUISITIONS AND DISPOSALS (Narrative) (Details) ¥ in Thousands, $ in Thousands | Nov. 13, 2019USD ($) | Nov. 13, 2019CNY (¥) | Jul. 22, 2019CNY (¥) | Oct. 08, 2018CNY (¥)agreement | Oct. 18, 2017CNY (¥) | Apr. 06, 2017CNY (¥) | Jul. 31, 2018CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | Nov. 18, 2019CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Jun. 30, 2018CNY (¥) | Jun. 29, 2018 | Jan. 25, 2016CNY (¥) |
Business Acquisition [Line Items] | ||||||||||||||||||
Gain Loss On Disposal Beijing Century Friendship and BPMC | ¥ 58,854 | |||||||||||||||||
Goodwill | $ 30,229 | ¥ 210,443 | $ 23,725 | ¥ 165,171 | ||||||||||||||
Shanghai Meizhongjiahe ProMed Cancer Centers Co., Ltd [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 54.80% | |||||||||||||||||
Business Combination, Consideration Transferred | ¥ 182,100 | |||||||||||||||||
Equity Method Investment, Ownership Percentage | 90.00% | |||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 78.31% | |||||||||||||||||
Business Combination, Consideration Transferred | ¥ 388,500 | |||||||||||||||||
Equity Method Investment, Ownership Percentage | 100.00% | 21.69% | ||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 388,500 | |||||||||||||||||
ZR Guofu [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Partners' Capital Account, Contributions | ¥ 746,001 | |||||||||||||||||
ZR Guofu [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Partners' Capital Account, Contributions | ¥ 746,000 | |||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 42.10% | |||||||||||||||||
Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 78.31% | |||||||||||||||||
Beijing Allcure Medical Technology Ltd [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Recognized a gain on the disposal | ¥ 59 | |||||||||||||||||
Percentage of equity interest transferred | 100.00% | |||||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | ¥ 3 | |||||||||||||||||
CMS Radiotherapy Holdings Limited [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Recognized a gain on the disposal | ¥ 3,341 | |||||||||||||||||
Percentage of equity interest transferred | 100.00% | |||||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | ¥ 8,594 | |||||||||||||||||
Beijing Century Friendship and BPMC [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Gain Loss On Disposal Beijing Century Friendship and BPMC | ¥ 58,854 | |||||||||||||||||
Beijing Century Friendship and BPMC [Member] | Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 21.69% | |||||||||||||||||
Guofu Huimei [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 100.00% | 26.06% | ||||||||||||||||
Guofu Huimei [Member] | Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 20.41% | |||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 60.00% | 60.00% | ||||||||||||||||
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 78.31% | |||||||||||||||||
Shanghai Meizhongjiahe ProMed Cancer Centers Co., Ltd [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Subscribed Amount to be Injected in Acquisition of Equity Interest | ¥ 182,100 | |||||||||||||||||
Equity Method Investment, Ownership Percentage | 90.00% | 35.20% | ||||||||||||||||
Shanghai Meizhongjiahe ProMed Cancer Centers Co., Ltd [Member] | Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 54.80% | |||||||||||||||||
Beijing Proton Medical Center [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Subscribed Amount to be Injected in Acquisition of Equity Interest | ¥ 388,500 | |||||||||||||||||
Equity Method Investment, Ownership Percentage | 55.00% | 25.00% | ||||||||||||||||
Beijing Proton Medical Center [Member] | Beijing Century Friendship Science and Technology Development Co., Ltd. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 55.00% | 55.00% | ||||||||||||||||
Beijing Proton Medical Center [Member] | King Cheers Holdings Limited ("King Cheers") [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 25.00% | |||||||||||||||||
Shanghai Rongchi Medical Management Limited [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 99.90% | 99.90% | ||||||||||||||||
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 28,846 | |||||||||||||||||
Goodwill | ¥ 165,171 | |||||||||||||||||
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | Operating license [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of licenses | agreement | 2 | |||||||||||||||||
Estimated amortization periods | 20 years | |||||||||||||||||
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | Operating License Agreement One [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Acquired amortizable intangible assets | ¥ 164,440 | |||||||||||||||||
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | Operating License Agreement Two [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Acquired amortizable intangible assets | 272,910 | |||||||||||||||||
Guofu Huimei, Beijing Century Friendship, BPMC And CMCC [Member] | Favorable leases [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Acquired amortizable intangible assets | ¥ 16,010 | |||||||||||||||||
Estimated amortization periods | 12 years | |||||||||||||||||
Tianjin Jiatai Group [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Payments to Fund Operations of Acquiree | ¥ 84,000 | |||||||||||||||||
Gain On Revaluation Of Investment | $ 4,582 | ¥ 31,898 | ||||||||||||||||
Acquired amortizable intangible assets | 5,000 | |||||||||||||||||
Goodwill | ¥ 45,272 | |||||||||||||||||
Tianjin Jiatai Group [Member] | Operating license [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Estimated amortization periods | 20 years | 20 years | ||||||||||||||||
Tianjin Jiatai Group [Member] | Favorable leases [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Estimated amortization periods | 17 years | 17 years | ||||||||||||||||
Goodwill | $ 6,503 | ¥ 45,272 | ||||||||||||||||
Tianjin Jiatai Group [Member] | ZR Guofu [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Percentage of equity interest transferred | 77.18% | 77.18% | ||||||||||||||||
Business Combination, Consideration Transferred | $ 60,578 | ¥ 421,730 | ||||||||||||||||
Tianjin Jiatai Group [Member] | SH MZJH | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Percentage of equity interest transferred | 90.00% | |||||||||||||||||
Business Combination, Consideration Transferred | ¥ 27,000 |
SHORT TERM INVESTMENT (Debt Inv
SHORT TERM INVESTMENT (Debt Investment) (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
SHORT TERM INVESTMENT | ||
Short term investment | ¥ 0 | ¥ 50,000 |
Unrealized gains or losses | 0 | 0 |
Other than temporary impairment | ¥ 0 | ¥ 0 |
ACCOUNTS RECEIVABLE (Schedule o
ACCOUNTS RECEIVABLE (Schedule of Accounts Receivable) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
ACCOUNTS RECEIVABLE | |||||
Accounts receivable | $ 11,618 | ¥ 90,453 | ¥ 80,878 | ||
Allowance for doubtful accounts | (1,027) | (3,585) | (7,147) | ||
Accounts receivable, net | 10,591 | 86,868 | ¥ 73,731 | ||
The rollforward in the allowance for doubtful accounts were as follows: | |||||
Balance at the beginning of the year | 515 | ¥ 3,585 | 12,969 | ¥ 57 | |
Provisions for the year | 648 | 4,510 | 1,303 | 14,840 | |
Reversal of provisions from prior periods due to subsequent cash collection during the year | (32) | (221) | (709) | 0 | |
Amounts written off during the year | (105) | (734) | (9,989) | (1,928) | |
Foreign exchange gain or loss | 1 | 7 | 11 | 0 | |
Balance at the end of the year | $ 1,027 | ¥ 7,147 | ¥ 3,585 | ¥ 12,969 |
ACCOUNTS RECEIVABLE (Narrative)
ACCOUNTS RECEIVABLE (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
ACCOUNTS RECEIVABLE | |||
Accounts receivable used to secure bank borrowings | $ 4,384 | ¥ 30,524 | ¥ 0 |
PREPAYMENTS AND OTHER CURRENT_3
PREPAYMENTS AND OTHER CURRENT ASSETS (Schedule of Prepayments and Other Current Assets) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
PREPAYMENTS AND OTHER CURRENT ASSETS | |||
Due from suppliers | $ 856 | ¥ 5,957 | ¥ 10,751 |
Due from hospitals | 58 | 406 | 576 |
Loan receivables | 10,066 | 70,077 | 151,139 |
Advances to employees | 614 | 4,271 | 1,056 |
Receivables from disposal of medical equipment | 17 | 120 | 69,410 |
Deferred expenses | 50 | ||
Interest receivable | 415 | 2,891 | 3,680 |
Dividend receivable | 110 | 766 | 766 |
Tax refund | 2,078 | 14,466 | |
Others | 708 | 4,927 | 5,084 |
Prepayments and other current assets, gross | 14,922 | 103,881 | 242,512 |
Reserve for unrecoverable deposits | (1,295) | (9,013) | (14,798) |
Prepayments and other current assets | $ 13,627 | ¥ 94,868 | ¥ 227,714 |
PREPAYMENTS AND OTHER CURRENT_4
PREPAYMENTS AND OTHER CURRENT ASSETS (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Prepaid Expenses And Other Current Assets [Line Items] | |||
Reserve For Unrecoverable Deposits Current | $ 1,295 | ¥ 9,013 | ¥ 14,798 |
Amounts due from subsidiaries | 550 | 3,833 | 20,671 |
Interest Receivable, Current | $ | 415 | ||
Notes, Loans and Financing Receivable, Net, Current | 8,317 | 57,904 | 136,021 |
JYADK [Member] | |||
Prepaid Expenses And Other Current Assets [Line Items] | |||
Reserve For Unrecoverable Deposits Current | 1,293 | 9,000 | 10,000 |
Amounts due from subsidiaries | $ 1,749 | 12,173 | 15,118 |
Interest Receivable, Current | 2,891 | 454 | |
Suppliers [Member] | |||
Prepaid Expenses And Other Current Assets [Line Items] | |||
Reserve For Unrecoverable Deposits Current | ¥ 0 | ¥ 4,798 |
INVENTORIES (Schedule of Invent
INVENTORIES (Schedule of Inventory) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Inventory [Line Items] | |||
Inventories | $ 624 | ¥ 4,341 | ¥ 3,356 |
Inventory, Gross | 825 | 5,741 | 3,866 |
Less: inventory provision | (201) | (1,400) | (510) |
Medicine [Member] | |||
Inventory [Line Items] | |||
Inventories | 377 | 2,625 | 2,196 |
Medical material [Member] | |||
Inventory [Line Items] | |||
Inventories | 249 | 1,728 | 90 |
Low-value Consumables [Member] | |||
Inventory [Line Items] | |||
Inventories | $ 199 | ¥ 1,388 | ¥ 1,580 |
ASSETS HELD FOR SALE (Narrative
ASSETS HELD FOR SALE (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Assets Held-for-sale, Not Part of Disposal Group, Current | $ 0 | ¥ 0 | ¥ 4,384 |
Property, Plant and Equipment [Member] | |||
Assets Held-for-sale, Not Part of Disposal Group, Current | ¥ 0 | ¥ 4,384 |
PROPERTY, PLANT AND EQUIPMENT_3
PROPERTY, PLANT AND EQUIPMENT, NET (Schedule of Property Plant and Equipment Net) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2019CNY (¥) | |
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | $ 320,579 | ¥ 1,518,595 | ¥ 2,231,805 | |
Less: accumulated depreciation | (45,125) | (275,627) | (314,151) | |
Impairment charges | (2,700) | ¥ (18,793) | (23,659) | |
Property, plant and equipment after impairment | 272,754 | 1,219,309 | 1,898,861 | |
Buildings [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | 39,870 | 254,577 | 277,569 | |
Medical Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | 65,909 | 404,050 | 458,843 | |
Electronic and Office Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | 3,014 | 19,564 | 20,983 | |
Motor Vehicles [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | 430 | 2,993 | 2,993 | |
Leasehold Improvement and Building Improvement [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | 11,624 | 14,050 | 80,922 | |
Construction in Progress [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | $ 199,732 | ¥ 823,361 | ¥ 1,390,495 |
PROPERTY, PLANT AND EQUIPMENT_4
PROPERTY, PLANT AND EQUIPMENT, NET - (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
Property, Plant and Equipment [Line Items] | |||||
Depreciation of property, plant and equipment | $ 6,372 | ¥ 44,358 | ¥ 40,855 | ¥ 83,224 | |
Tangible Asset Impairment Charges | 927 | 6,453 | 4,418 | 21,476 | |
Impairment Write Off | 1,575 | 10,968 | 41,272 | 27,906 | |
Equipment under operating lease, cost | 39,013 | 205,279 | ¥ 271,603 | ||
Equipment under operating lease, accumulated depreciation | 21,688 | 133,130 | 150,988 | ||
Property and equipment pledged as collateral for other borrowings | 17,145 | 0 | 119,359 | ||
Property and equipment pledged to secure bank and other borrowings | 165,529 | 633,444 | ¥ 1,152,379 | ||
Hospital [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Impairment of Intangible Assets (Excluding Goodwill) | 0 | 351 | 0 | ||
Impairment Write Off | $ 51 | ¥ 353 | ¥ 0 | ¥ 0 |
LEASE (Narrative) (Details)
LEASE (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
Lessor, Lease, Description [Line Items] | |||||
Lease receivables | $ 620 | ¥ 2,093 | ¥ 4,318 | ||
Lease receivables pledged as collaterals for bank and other borrowings | 3,591 | 24,997 | |||
Derecognition of underlying assets | 24,012 | ¥ 167,165 | |||
Operating lease income | 7,683 | 53,485 | 71,864 | ¥ 232,015 | |
Short-term Lease, Cost | 90 | 625 | |||
Secured Debt, Other | 59,833 | 425,743 | 416,548 | ||
Total operating and short-term lease costs | 4,687 | 32,627 | |||
Prepaid land lease payments | 0 | 438,323 | 0 | ||
Right-of-use asset | 61,602 | 428,861 | |||
Prepaid land lease amortization expenses | 61,602 | 428,861 | 438,323 | ||
Right-of-use asset amortization expenses | 1,359 | 9,462 | 9,610 | 5,256 | |
Failed sale-leaseback transactions as seller-lessee | |||||
Sale leaseback liability current | 4,402 | 30,646 | ¥ 205,784 | ||
Interest expenses | 3,109 | 21,644 | ¥ 119 | ¥ 0 | |
Sale leaseback liability non current | 29,559 | ||||
Cost of revenue | |||||
Lessor, Lease, Description [Line Items] | |||||
Short-term Lease, Cost | 1,178 | 8,203 | |||
General and administrative expenses | |||||
Lessor, Lease, Description [Line Items] | |||||
Short-term Lease, Cost | $ 3,419 | ¥ 23,799 | |||
Minimum | |||||
Failed sale-leaseback transactions as seller-lessee | |||||
Effective interest rate | 9.64% | 9.64% | |||
Maximum | |||||
Failed sale-leaseback transactions as seller-lessee | |||||
Effective interest rate | 11.69% | 11.69% |
LEASE (Lease receivables) (Deta
LEASE (Lease receivables) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Current | |||
Account receivable - Operating lease | $ 5,487 | ¥ 38,201 | ¥ 46,331 |
Account receivable - Sales-type lease | 97 | 675 | |
Net investment in direct financing leases, current portion | 5,062 | 35,240 | 29,638 |
Noncurrent | |||
Net investment in direct financing leases, non-current portion | 3,890 | 27,084 | 42,977 |
Total | $ 14,536 | ¥ 101,200 | ¥ 118,946 |
LEASE (Net investment in direct
LEASE (Net investment in direct financing leases) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
NET INVESTMENT IN DIRECT FINANCING LEASES | |||
Total minimum lease payments to be received | $ 9,842 | ¥ 68,520 | ¥ 83,079 |
Initial direct cost | (890) | (6,196) | (10,464) |
Net investment in direct finance leases | 8,952 | 62,324 | 72,615 |
Current | 5,062 | 35,240 | 29,638 |
Non-current | 3,890 | 27,084 | 42,977 |
Total | $ 8,952 | ¥ 62,324 | ¥ 72,615 |
LEASE (Summary of non-cancelabl
LEASE (Summary of non-cancelable direct financing leases) (Details) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Lease | ||
2020 | $ 5,609 | ¥ 39,050 |
2021 | 2,462 | 17,138 |
2022 | 1,070 | 7,446 |
2023 | 431 | 3,003 |
2024 | $ 270 | ¥ 1,883 |
LEASE (Schedule of Prepaid Land
LEASE (Schedule of Prepaid Land Lease Payments) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Lease | |||
Prepaid land lease payments | ¥ 456,823 | ||
Less: accumulated amortization | (18,500) | ||
Net carrying value | $ 0 | ¥ 0 | ¥ 438,323 |
Prepaid land lease payments | 65,619 | 456,823 | |
Less: accumulated amortization | (4,017) | (27,962) | |
Net carrying value | $ 61,602 | ¥ 428,861 |
LEASE (Other operating leases)
LEASE (Other operating leases) (Details) - 12 months ended Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Lease | ||
Operating lease cost | $ 4,597 | ¥ 32,002 |
Short term lease cost | 90 | 625 |
Total | $ 4,687 | ¥ 32,627 |
LEASE (Other information) (Deta
LEASE (Other information) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | |
Lease | ||
Operating cash flows from operating leases | $ 2,656 | ¥ 18,491 |
ROU assets obtained in exchange for new operating liabilities lease | $ 33,743 | ¥ 234,915 |
Weighted-average remaining lease term (in years) | 4 years | 4 years |
Weighted-average discount rate | 4.87% | 4.87% |
LEASE (Summary of future lease
LEASE (Summary of future lease payments) (Details) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2020 | $ 3,643 | ¥ 25,362 |
2021 | 3,516 | 24,481 |
2022 | 2,967 | 20,654 |
2023 | 2,872 | 19,996 |
2024 | 2,773 | 19,306 |
Thereafter | 36,796 | 256,158 |
Total future lease payments | 52,567 | 365,957 |
Less: Imputed interest | 19,285 | 134,256 |
Total lease liability balance | $ 33,282 | ¥ 231,701 |
LEASE (Schedule of Estimated An
LEASE (Schedule of Estimated Annual Amortization Expenses) (Details) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Lease | ||
2020 | $ 1,359 | ¥ 9,462 |
2021 | 1,359 | 9,462 |
2022 | 1,359 | 9,462 |
2023 | 1,359 | 9,462 |
2024 | $ 1,359 | ¥ 9,462 |
LEASE (Lease income) (Details)
LEASE (Lease income) (Details) - 12 months ended Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Sales Type Leases [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Selling loss recognized at the commencement date | $ (3,049) | ¥ (21,229) |
Interest income on net investment in the lease | 162 | 1,130 |
Including: Income relating to variable lease payments not included in the measurement of the net investment in a lease | 162 | 1,130 |
Direct Financing Leases [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Interest income on net investment in the lease | 567 | 3,944 |
Operating leases [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lease income relating to lease payments | 7,683 | 53,485 |
Including: Income relating to variable lease payments not included in the measurement of lease receivable | $ 6,591 | ¥ 45,887 |
Lease ( Schedule of Non-cancell
Lease ( Schedule of Non-cancellable Operating Lease Payment) (Details) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Lease | ||
2020 | $ 1,289 | ¥ 8,972 |
2021 | 1,289 | 8,972 |
2022 | 1,133 | 7,886 |
2023 | 1,034 | 7,196 |
2024 | 789 | 5,496 |
Above 5 years | $ 1,969 | ¥ 13,708 |
GOODWILL (Carrying Amount) (Det
GOODWILL (Carrying Amount) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Goodwill [Roll Forward] | |||
Goodwill, Beginning Balance | $ 23,725 | ¥ 165,171 | |
Addition | 6,504 | 45,272 | ¥ 165,171 |
Goodwill, Ending Balance | $ 30,229 | ¥ 210,443 | ¥ 165,171 |
GOODWILL (Narrative) (Details)
GOODWILL (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | |
GOODWILL | ||||||
Goodwill, Acquired During Period | $ 6,504 | ¥ 45,272 | ¥ 165,171 | |||
Goodwill | $ 30,229 | ¥ 210,443 | $ 23,725 | ¥ 165,171 |
INTANGIBLE ASSETS, NET (Schedul
INTANGIBLE ASSETS, NET (Schedule of Acquired Intangible Assets) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
Intangible assets, net: | |||||
Intangible assets, net, beginning balance | ¥ 456,844 | ¥ 7,799 | |||
Acquisition of subsidiaries (note 4) | 89,000 | 454,013 | |||
Addition of software | 1,579 | 1,779 | |||
Disposal of centers | (87) | (2,586) | |||
Amortization expenses | $ (1,723) | (11,995) | (4,161) | ¥ (6,229) | |
Intangible asset impairment | (2,852) | ||||
Intangible assets, net, ending balance | 76,487 | 532,489 | 456,844 | 7,799 | |
Intangible assets, cost | ¥ 620,187 | ||||
Less: accumulated amortization | (84,248) | ||||
Less: intangible asset impairment | (3,450) | ||||
Intangible assets, net at December 31, 2018 | 76,487 | 532,489 | 456,844 | 7,799 | 532,489 |
Customer relationship [Member] | |||||
Intangible assets, net: | |||||
Intangible assets, net, beginning balance | 3,027 | 6,171 | |||
Acquisition of subsidiaries (note 4) | 0 | 0 | |||
Addition of software | 0 | 0 | |||
Disposal of centers | (80) | (2,586) | |||
Amortization expenses | (125) | (558) | |||
Intangible asset impairment | (2,822) | ||||
Intangible assets, net, ending balance | 0 | 0 | 3,027 | 6,171 | |
Intangible assets, cost | 45,157 | ||||
Less: accumulated amortization | (41,737) | ||||
Less: intangible asset impairment | (3,420) | ||||
Intangible assets, net at December 31, 2018 | 0 | 0 | 3,027 | 6,171 | 0 |
Operating leases [Member] | |||||
Intangible assets, net: | |||||
Intangible assets, net, beginning balance | 254 | 306 | |||
Acquisition of subsidiaries (note 4) | 0 | 0 | |||
Addition of software | 0 | 0 | |||
Disposal of centers | (7) | 0 | |||
Amortization expenses | (217) | (52) | |||
Intangible asset impairment | (30) | ||||
Intangible assets, net, ending balance | 0 | 0 | 254 | 306 | |
Intangible assets, cost | 14,707 | ||||
Less: accumulated amortization | (14,677) | ||||
Less: intangible asset impairment | (30) | ||||
Intangible assets, net at December 31, 2018 | 0 | 0 | 254 | 306 | 0 |
Operating license [Member] | |||||
Intangible assets, net: | |||||
Intangible assets, net, beginning balance | 435,294 | 0 | |||
Acquisition of subsidiaries (note 4) | 84,000 | 437,350 | |||
Addition of software | 0 | 0 | |||
Disposal of centers | 0 | 0 | |||
Amortization expenses | (8,717) | (2,056) | |||
Intangible asset impairment | 0 | ||||
Intangible assets, net, ending balance | 73,340 | 510,577 | 435,294 | 0 | |
Intangible assets, cost | 521,350 | ||||
Less: accumulated amortization | (10,773) | ||||
Less: intangible asset impairment | 0 | ||||
Intangible assets, net at December 31, 2018 | 73,340 | 510,577 | 435,294 | 0 | 510,577 |
Favorable Lease Intangibles [Member] | |||||
Intangible assets, net: | |||||
Intangible assets, net, beginning balance | 15,692 | 0 | |||
Acquisition of subsidiaries (note 4) | 5,000 | 16,010 | |||
Addition of software | 0 | 0 | |||
Disposal of centers | 0 | 0 | |||
Amortization expenses | (1,307) | (318) | |||
Intangible asset impairment | 0 | ||||
Intangible assets, net, ending balance | 2,784 | 19,385 | 15,692 | 0 | |
Intangible assets, cost | 21,010 | ||||
Less: accumulated amortization | (1,625) | ||||
Less: intangible asset impairment | 0 | ||||
Intangible assets, net at December 31, 2018 | 2,784 | 19,385 | 15,692 | 0 | 19,385 |
Other Intangible Assets [Member] | |||||
Intangible assets, net: | |||||
Intangible assets, net, beginning balance | 2,577 | 1,322 | |||
Acquisition of subsidiaries (note 4) | 0 | 653 | |||
Addition of software | 1,579 | 1,779 | |||
Disposal of centers | 0 | 0 | |||
Amortization expenses | (1,629) | (1,177) | |||
Intangible asset impairment | 0 | ||||
Intangible assets, net, ending balance | 363 | 2,527 | 2,577 | 1,322 | |
Intangible assets, cost | 17,963 | ||||
Less: accumulated amortization | (15,436) | ||||
Less: intangible asset impairment | 0 | ||||
Intangible assets, net at December 31, 2018 | $ 363 | ¥ 2,527 | ¥ 2,577 | ¥ 1,322 | ¥ 2,527 |
INTANGIBLE ASSETS, NET (Sched_2
INTANGIBLE ASSETS, NET (Schedule of Estimated Annual Amortization Expenses) (Details) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
INTANGIBLE ASSETS, NET | ||
2020 | $ 2,192 | ¥ 15,260 |
2021 | 2,781 | 19,358 |
2022 | 4,006 | 27,886 |
2023 | 3,970 | 27,640 |
2024 | $ 3,963 | ¥ 27,590 |
INTANGIBLE ASSETS, NET (Narrati
INTANGIBLE ASSETS, NET (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expenses | $ 1,723 | ¥ 11,995 | ¥ 4,161 | ¥ 6,229 |
Acquired Finite Lived Intangible Assets [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expenses | 1,723 | 11,995 | 4,161 | 6,229 |
Impairment loss on intangible assets | $ 410 | ¥ 2,852 | ¥ 0 | ¥ 598 |
DEPOSITS FOR NON-CURRENT ASSE_3
DEPOSITS FOR NON-CURRENT ASSETS (Schedule of Deposits for Non-Current Assets) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
DEPOSITS FOR NON-CURRENT ASSETS | |||
Deposits for purchases of property, plant and equipment | $ 103,047 | ¥ 717,392 | ¥ 668,698 |
Reserve for unrecoverable deposits | (13,396) | (93,260) | (30,860) |
Deposits | $ 89,651 | ¥ 624,132 | ¥ 637,838 |
DEPOSITS FOR NON-CURRENT ASSE_4
DEPOSITS FOR NON-CURRENT ASSETS (Schedule of Deposits for Non-Current Assets) (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Assets, Noncurrent | $ 576,712 | ¥ 4,014,958 | ¥ 3,356,702 | |
Capital Addition Purchase Commitments [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Commitments to purchase certain medical equipment | 89,429 | 622,584 | 660,758 | |
Assets, Noncurrent | 0 | 13,800 | ||
Debt Instrument, Face Amount | 0 | 10,731 | ||
Impairment loss on deposit assets | $ 8,963 | ¥ 62,400 | ¥ 0 | ¥ 0 |
LONG-TERM INVESTMENTS (Details)
LONG-TERM INVESTMENTS (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
LONG-TERM INVESTMENTS | |||
Equity investments without readily determinable fair values | $ 3,183 | ¥ 22,160 | ¥ 22,160 |
Equity method investments | 6,146 | 42,788 | 366,204 |
Long-term Investments | $ 9,329 | ¥ 64,948 | ¥ 388,364 |
LONG-TERM INVESTMENTS (Details
LONG-TERM INVESTMENTS (Details 1) - Allcure Information [Member] - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 | |
Allcure Information | 9.60% | 9.60% | 20.00% |
Impairment | ¥ 0 | ¥ 0 |
LONG-TERM INVESTMENTS (Schedule
LONG-TERM INVESTMENTS (Schedule of Equity Method Investments) (Details 2) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2015 | Dec. 31, 2011 |
Xi'an JiangyuanAndike Ltd. ("JYADK") [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 29.70% | 29.70% | ||
PTC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 59.51% | 59.51% | ||
Suzhou Shengshan Huiying Venture Capital Investment LLP. ("Suzhou Shengshan") [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 5.15% | 5.41% | 5.41% | |
Wuxi Meizhong Jiahe Cancer Center [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 0.00% | 10.00% | ||
Suzhou Chorus Medical Technologies Co., Ltd. ("Suzhou Chorus') [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 0.00% | 36.00% | 36.00% | |
SH MZJH | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 0.00% | 43.23% | ||
Shanghai Rongchi Medical Management Co Ltd SH Rongchi [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 0.00% | 24.40% | ||
Tianjin Jiatai Enterprise Management Center (Limited Partnership) ("Tianjin Jiatai") [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 0.00% | 22.82% | ||
DTAP @ Adam Road PTE.LTD. ("DTAP") [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity interest in equity method investment | 0.00% | 49.00% |
LONG-TERM INVESTMENTS (Narrativ
LONG-TERM INVESTMENTS (Narrative) (Details) ¥ / shares in Units, ¥ in Thousands, $ in Thousands | Nov. 13, 2019USD ($) | Nov. 13, 2019CNY (¥) | Jul. 11, 2019¥ / shares | Jul. 31, 2015CNY (¥) | Dec. 31, 2012CNY (¥) | Dec. 28, 2012 | Jul. 31, 2018CNY (¥) | May 31, 2017 | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥)¥ / shares | Dec. 31, 2017CNY (¥) | Dec. 31, 2015CNY (¥) | Dec. 31, 2019CNY (¥) | Aug. 23, 2019CNY (¥) | Jul. 22, 2019CNY (¥) | Mar. 31, 2019CNY (¥) | Nov. 29, 2018CNY (¥) | Jun. 30, 2018CNY (¥) | Dec. 31, 2011 |
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Share of net profit (loss) | $ (729) | ¥ (5,078) | ¥ (20,747) | ¥ 1,454 | ||||||||||||||||
Cash distribution from an equity investee | 0 | ¥ 0 | 11,626 | 6,227 | ||||||||||||||||
Equity Method Investments | $ 6,146 | ¥ 366,204 | ¥ 42,788 | |||||||||||||||||
Maximum voting percentage required to pass resolution | 50.00% | 50.00% | ||||||||||||||||||
Capital Contributed | 10,000 | |||||||||||||||||||
Third Party Subscription Amount Per Share | ¥ / shares | ¥ 0.49 | |||||||||||||||||||
Proceeds from Sale of Equity Method Investments | $ 973 | ¥ 6,779 | ¥ 212,855 | 0 | ||||||||||||||||
RHHPL | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 49.00% | |||||||||||||||||||
Third Party Subscription Amount Per Share | ¥ / shares | ¥ 0.49 | |||||||||||||||||||
Tianjin Jiatai Entity Management limited Partnership [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 106,500 | |||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 28.77% | |||||||||||||||||||
Guofu Huimei Investment Management Limited Partnership [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investments | ¥ 746,000 | |||||||||||||||||||
MDA Proton [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | ¥ 212,855 | |||||||||||||||||||
Disposal Group, Deferred Gain on Disposal | ¥ 48,019 | |||||||||||||||||||
Proceeds from Sale of Equity Method Investments | 973 | ¥ 6,779 | ||||||||||||||||||
Discontinued Operation Equity Method Investment Retained After Disposal | $ 3,551 | 31,497 | ¥ 24,718 | |||||||||||||||||
PTC [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Share of net profit (loss) | ¥ 509 | |||||||||||||||||||
Equity Method Investment, Ownership Percentage | 14.34% | 44.55% | 59.51% | 59.51% | ||||||||||||||||
Business Combination, Consideration Transferred | ¥ 30,063 | ¥ 201,176 | ||||||||||||||||||
PTC GP Management LLC [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment Legal Interest Percentage | 17.07 | 45 | ||||||||||||||||||
General Partner of PTC [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 1.00% | |||||||||||||||||||
MDA Proton [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment Legal Interest Percentage | 45.41 | 45.41 | ||||||||||||||||||
Tianjin Jiatai Group [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 90.00% | |||||||||||||||||||
Capital Contributed | ¥ 27,000 | |||||||||||||||||||
SH MZJH | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 56.77% | 78.34% | ||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 27,000 | |||||||||||||||||||
Capital Contributed | ¥ 34,540 | |||||||||||||||||||
Suzhou Chorus Medical Technologies Co., Ltd. ("Suzhou Chorus') [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 0.00% | 36.00% | 36.00% | 0.00% | ||||||||||||||||
Equity Method Investment, Ownership Description | The consideration was received by the Group in April 2016. The disposal of Suzhou Chorus was completed in 2019. | |||||||||||||||||||
Global Oncology One, Inc [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | ¥ 4,320 | |||||||||||||||||||
PTC [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Share of net profit (loss) | 0 | ¥ 17,697 | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 59.51% | 59.51% | 59.51% | |||||||||||||||||
Allcure Information [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 9.60% | 9.60% | 20.00% | 9.60% | ||||||||||||||||
Wuxi Meizhong Jiahe Cancer Center [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 0.00% | 10.00% | 0.00% | |||||||||||||||||
Capital Contributed | ¥ 82,110 | |||||||||||||||||||
Suzhou Shengshan Huiying Venture Capital Investment LLP. ("Suzhou Shengshan") [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 5.15% | 5.41% | 5.15% | 5.41% | ||||||||||||||||
DTAP [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 49.00% | 49.00% | ||||||||||||||||||
JKSY [Member] | Suzhou Shengshan [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 8.13% | |||||||||||||||||||
Percentage of interest held | 4.57% | |||||||||||||||||||
ZR Guofu [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Percentage of equity interest withdrawn | 77.18% | 77.18% | ||||||||||||||||||
Consideration | $ 60,578 | ¥ 421,730 | ||||||||||||||||||
Percentage Of Interest In Partnership | 73.93% | 73.93% | ||||||||||||||||||
Partners' Capital Account, Contributions | ¥ 746,001 | |||||||||||||||||||
ZR Guofu [Member] | Guofu Huimei Investment Management Limited Partnership [Member] | ||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||
Partners' Capital Account, Contributions | ¥ 746,000 |
OTHER NON-CURRENT ASSETS (Sched
OTHER NON-CURRENT ASSETS (Schedule of Other Non-Current Assets) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
OTHER NON-CURRENT ASSETS | |||
Deferred costs | ¥ 267 | ||
Deposits - long-term | $ 967 | ¥ 6,733 | 2,719 |
Long-term deferred assets | 252 | 1,755 | 3,479 |
Advance to hospitals-non current | 206 | 1,433 | 1,260 |
Others | 151 | ||
Other non-current assets | $ 1,425 | ¥ 9,921 | ¥ 7,876 |
OTHER NON-CURRENT ASSETS (Narra
OTHER NON-CURRENT ASSETS (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
OTHER NON-CURRENT ASSETS | |||
Deposit - long term, impairment loss | $ 57 | ¥ 400 | ¥ 11,527 |
Advance to hospitals-non current, impairment loss | $ 47 | ¥ 330 | ¥ 1,642 |
ACCRUED EXPENSES AND OTHER LI_3
ACCRUED EXPENSES AND OTHER LIABILITIES (Schedule of Accrued Expenses and Other Liabilities) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
ACCRUED EXPENSES AND OTHER LIABILITIES | |||
Accrued expenses | $ 11,693 | ¥ 81,407 | ¥ 44,621 |
Salaries and welfare payable | 3,154 | 21,959 | 8,612 |
Business and other taxes payable | 549 | 3,822 | 11,400 |
Payable to acquire the non-controlling interests of CCM (HK) | 6,459 | 44,963 | |
Amount due to Tianjin Jiatai Group | 36,151 | ||
MD Anderson consulting fee payable | 5,958 | 41,478 | 51,029 |
Acquisition payable for investment in CMCC | 1,818 | 12,657 | 116,922 |
Consideration advance from JWYK (note 16) | 0 | 0 | 4,320 |
Advance from customers | 458 | 3,190 | 19,250 |
Other accruals | 9,714 | 67,625 | 125,701 |
Total | $ 39,803 | ¥ 277,101 | ¥ 418,006 |
SHAREHOLDERS' EQUITY (Narrative
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($) | Aug. 10, 2015 | Jan. 27, 2015 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2015 |
Consideration to repurchase shares | $ 4,542 | $ 3,111 | ||||
Shares repurchased | 967,408 | 614,033 | ||||
Amount of dividend paid | $ 0 | $ 0 | ||||
Ordinary shares [Member] | ||||||
Shares repurchased | 2,902,224 | 1,842,099 | ||||
American Depositary Shares [Member] | ||||||
Consideration to repurchase shares | $ 20,000,000 | |||||
Shares repurchased | 0 | 0 | ||||
American Depositary Shares [Member] | Maximum | ||||||
Price per share | $ 7.99 | |||||
Common Class A [Member] | ||||||
Conversion of Stock, Shares Converted | 45,787,948 | 45,787,948 | ||||
Common Stock, Shares, Outstanding | 84,454,047 | 84,390,429 | ||||
Common Class B [Member] | ||||||
Conversion of Stock, Shares Issued | 45,787,948 | |||||
Common Stock, Shares, Outstanding | 45,787,948 | 45,787,948 |
BANK AND OTHER BORROWINGS (Sche
BANK AND OTHER BORROWINGS (Schedule of Bank and Other Borrowings) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
BANK AND OTHER BORROWINGS | |||
Total bank and other borrowings | $ 232,728 | ¥ 1,620,202 | ¥ 938,114 |
Short-term | 41,010 | 285,500 | 396,520 |
Long-term, current portion | 6,168 | 42,939 | 44,068 |
Total | 47,178 | 328,439 | 440,588 |
Long-term, non-current portion | $ 185,550 | ¥ 1,291,763 | ¥ 497,526 |
BANK AND OTHER BORROWINGS (Sc_2
BANK AND OTHER BORROWINGS (Schedule of Maturities of Long-Term and Other Debt) (Details) - Dec. 31, 2019 - Long-term Bank and Other Borrowings [Member] ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Debt Instrument [Line Items] | ||
Within one year | $ 6,168 | ¥ 42,939 |
Between one and two years | 17,080 | 118,905 |
Between two and three years | 22,810 | 158,800 |
Between three and four years | 26,492 | 184,432 |
Above four years | 119,168 | 829,626 |
Total | $ 191,718 | ¥ 1,334,702 |
BANK AND OTHER BORROWINGS (Narr
BANK AND OTHER BORROWINGS (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Debt Instrument [Line Items] | |||
Property and equipment pledged as collateral | $ 17,145 | ¥ 119,359 | ¥ 0 |
Accounts receivable used to secure bank borrowings | 4,384 | 30,524 | 0 |
Lease receivables | 3,591 | 24,997 | 0 |
Assets, Noncurrent | $ 576,712 | 4,014,958 | 3,356,702 |
Restricted cash | ¥ 0 | ¥ 421,990 | |
Short-term bank borrowings, weighted average interest rate | 7.73% | 7.73% | 4.08% |
Bank Loans | $ 5,979 | ¥ 41,624 | ¥ 31,083 |
Other Borrowings | 226,748 | 1,578,578 | 907,031 |
Land [Member] | |||
Debt Instrument [Line Items] | |||
Property and equipment pledged as collateral | 59,833 | 416,548 | 425,743 |
Construction in Progress [Member] | |||
Debt Instrument [Line Items] | |||
Property and equipment pledged as collateral | $ 165,529 | ¥ 1,152,379 | ¥ 633,444 |
Long-term Bank and Other Borrowings [Member] | |||
Debt Instrument [Line Items] | |||
Long-term bank and other borrowings, weighted average interest rate | 11.49% | 11.49% | 9.81% |
Short Term Bank Credit Lines [Member] | |||
Debt Instrument [Line Items] | |||
Unutilized bank credit lines | ¥ 0 | ||
Long Term Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Unutilized bank credit lines | $ 80,066 | 557,400 | |
Capital Addition Purchase Commitments [Member] | |||
Debt Instrument [Line Items] | |||
Assets, Noncurrent | ¥ 0 | ¥ 13,800 |
RESTRICTED NET ASSETS (Narrativ
RESTRICTED NET ASSETS (Narrative) (Details) - 12 months ended Dec. 31, 2019 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Restricted Net Assets [Line Items] | ||
Percentage of after-tax profit to general reserve | 10.00% | |
Amount of net assets restricted | $ 685,188 | ¥ 4,770,139 |
Foreign Tax Authority [Member] | ||
Restricted Net Assets [Line Items] | ||
Percentage of after-tax profit to general reserve | 10.00% | |
Percentage of general reserve registered capital | 50.00% | |
Domestic Tax Authority [Member] | ||
Restricted Net Assets [Line Items] | ||
Percentage of after-tax profit to general reserve | 10.00% | |
Percentage of general reserve registered capital | 50.00% |
TAXATION (Narrative) (Details)
TAXATION (Narrative) (Details) ¥ in Thousands, $ in Thousands | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||||||
Apr. 30, 2018 | Dec. 31, 2018CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017USD ($) | Dec. 31, 2017CNY (¥) | Dec. 31, 2011 | Dec. 31, 2019CNY (¥) | |
Income Tax Contingency [Line Items] | ||||||||||
Applicable tax rates | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | ||||
Withholding Tax Rate | 10 | 10 | ||||||||
Income tax payable | ¥ 3,762 | $ 108 | ¥ 3,762 | ¥ 752 | ||||||
Uncertain tax position, impact on taxes | 977 | ¥ 6,802 | 8,309 | ¥ 2,770 | ||||||
Accrued interest and penalties | 37,943 | 4,473 | 37,943 | 31,141 | ||||||
Unrecognized tax benefits, net deferred tax asset related to tax loss carryforwards | 0 | 3,934 | 0 | 27,385 | ||||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 46,978 | 8,721 | 46,978 | 60,711 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 56,175 | 391,078 | 225,246 | 253,895 | ||||||
Business tax rate | 5 | |||||||||
Net operating loss carryforwards | 113,444 | 789,776 | ||||||||
Deferred Tax Assets, Net of Valuation Allowance | ¥ 696 | 8,558 | 696 | ¥ 59,580 | ||||||
Current Federal, State and Local, Tax Expense (Benefit) | $ 195 | ¥ (1,358) | ¥ 2,867 | ¥ 0 | ||||||
Movable Property [Member] | ||||||||||
Income Tax Contingency [Line Items] | ||||||||||
Value added tax | 3.00% | 3.00% | ||||||||
Property Leasing Arrangement [Member] | ||||||||||
Income Tax Contingency [Line Items] | ||||||||||
Value added tax | 17.00% | 13.00% | ||||||||
Technical Service [Member] | ||||||||||
Income Tax Contingency [Line Items] | ||||||||||
Value added tax | 6.00% | 6.00% | ||||||||
United States of America [Member] | ||||||||||
Income Tax Contingency [Line Items] | ||||||||||
Applicable tax rates | 21.00% | 21.00% | 35.00% | 35.00% | 35.00% | 35.00% | ||||
SINGAPORE | ||||||||||
Income Tax Contingency [Line Items] | ||||||||||
Income tax profits | $ | $ 0 | $ 0 | $ 0 | |||||||
HONG KONG | ||||||||||
Income Tax Contingency [Line Items] | ||||||||||
Income tax profits | ¥ | ¥ 0 |
TAXATION (Schedule of (Loss) In
TAXATION (Schedule of (Loss) Income from Continuing Operations Before Income Taxes) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
TAXATION | ||||
Non - PRC | $ (18,277) | ¥ (127,243) | ¥ (98,709) | ¥ (193,212) |
PRC | (37,898) | (263,835) | (126,537) | (60,683) |
Loss before income tax | $ (56,175) | ¥ (391,078) | ¥ (225,246) | ¥ (253,895) |
TAXATION (Schedule of Income Ta
TAXATION (Schedule of Income Tax Expense from Continuing Operations) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
TAXATION | ||||
Current tax expense | $ (2,380) | ¥ (16,570) | ¥ 43,209 | ¥ 5,105 |
Deferred tax expense (benefit) | (3,220) | (22,416) | (9,158) | 26,684 |
Income tax expense | $ (5,600) | ¥ (38,986) | ¥ 34,051 | ¥ 31,789 |
TAXATION (Reconciliation of Dif
TAXATION (Reconciliation of Differences Between Statutory Tax Rate and Effective Tax Rate) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
TAXATION | ||||
Loss before income taxes | $ (56,175) | ¥ (391,078) | ¥ (225,246) | ¥ (253,895) |
Income tax computed at the tax rate of 25% | (14,044) | (97,770) | (56,309) | (63,474) |
Effect of different tax rates in different jurisdictions | 2,786 | 19,393 | 11,758 | 23,554 |
Non-deductible expenses | 1,217 | 8,472 | 4,661 | 13,872 |
Non-taxable income | (34) | (234) | (7,322) | (1,942) |
Statutory Income (Expense) | 462 | 3,216 | 0 | 0 |
Interest and penalty | (978) | (6,811) | 0 | 0 |
Unrecognized tax positions | 0 | 0 | 41,122 | (2,942) |
Deferred tax expense | 4,648 | 32,358 | 0 | 0 |
Changes of valuation allowance | 6,014 | 41,868 | 45,112 | 48,089 |
Withholding tax | (5,671) | (39,478) | (4,971) | 15,624 |
Effect of tax rate change | 0 | 0 | 0 | (992) |
Income tax expense | $ (5,600) | ¥ (38,986) | ¥ 34,051 | ¥ 31,789 |
TAXATION (Reconciliation of D_2
TAXATION (Reconciliation of Differences Between Statutory Tax Rate and Effective Tax Rate) (Parenthetical) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
TAXATION | |||
Statutory income tax rate | 25.00% | 25.00% | 25.00% |
TAXATION (Schedule of Deferred
TAXATION (Schedule of Deferred Taxes) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) |
Deferred tax asset | ||||
Net operating loss | $ 23,491 | ¥ 163,538 | ¥ 158,330 | |
Depreciation and amortization | 899 | 6,262 | 2,813 | |
Property, plant and equipment impairment | 1,355 | 9,433 | 8,750 | |
Deposits for non-current assets | 2,349 | 16,350 | 6,400 | |
Allowance for net investment in financing lease | 649 | 4,518 | 1,085 | |
Allowance for doubtful accounts | 1,636 | 11,391 | 14,132 | |
Long term receivables | 8,629 | 60,073 | 0 | |
Intangible assets | 5,426 | 37,778 | 16,703 | |
Accrued expenses | 1,321 | 9,196 | 9,032 | |
Others | 272 | 1,891 | 527 | |
Total deferred tax assets | 46,027 | 320,430 | 217,772 | |
less:Valuation allowance | (37,469) | (260,850) | (217,076) | |
Net deferred tax assets | 8,558 | 59,580 | 696 | |
Deferred tax liabilities | ||||
Withholding tax for PRC entities | 0 | 0 | (39,495) | |
Aohua Technology transfer Tianjin Concord Medical loss | (1,342) | (9,346) | 0 | ¥ (5,632) |
Equity investment | (187) | (1,299) | 0 | |
Property, plant and equipment | (320) | (2,225) | (415) | |
Disposal of Beijing Century Friendship | (449) | (3,126) | (3,126) | |
Intangible assets | (19,042) | (132,566) | (113,590) | |
Deferred costs | 0 | 0 | (67) | |
Revenue generated from financing lease | (7,665) | (53,362) | 0 | |
Long-term deferred assets | (2,755) | (19,179) | (9,649) | |
Capitalized Interest | (562) | (3,915) | 0 | |
Total deferred tax liabilities | (32,322) | (225,018) | (166,342) | |
Deferred tax assets, net | 0 | 0 | 0 | |
Deferred tax liabilities, net | $ (23,764) | ¥ (165,438) | ¥ (165,646) |
TAXATION (Schedule of Movement
TAXATION (Schedule of Movement of Valuation Allowance) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
TAXATION | |||
Balance at the beginning of year | $ (31,181) | ¥ (217,076) | ¥ (157,876) |
Change of valuation allowance in the current year | (6,288) | (43,773) | (59,200) |
Balance at the end of year | $ (37,469) | ¥ (260,849) | ¥ (217,076) |
TAXATION (Reconciliation of Acc
TAXATION (Reconciliation of Accrued Unrecognized Tax Positions) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
TAXATION | |||
Balance at the beginning of year | $ 11,635 | ¥ 81,000 | ¥ 41,358 |
Additions based on tax positions related to the current year | 3,050 | 21,238 | 30,043 |
Additions related to prior year tax position | 79 | 548 | 9,676 |
Reversal related to prior year tax position | (404) | (2,810) | 0 |
Decrease relating to expiration of applicable statute of limitation | (199) | (1,386) | (920) |
Foreign currency translation | 57 | 394 | 843 |
Balance at the end of year | $ 14,218 | ¥ 98,984 | ¥ 81,000 |
SHARE-BASED AWARDS (Narrative)
SHARE-BASED AWARDS (Narrative) (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands | Oct. 02, 2018shares | Sep. 13, 2017shares | Aug. 08, 2017shares | Aug. 07, 2017shares | Aug. 01, 2014shares | Jul. 01, 2014shares | Feb. 18, 2014$ / sharesshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2016shares | Dec. 31, 2015shares | Dec. 31, 2019CNY (¥)shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Ordinary shares that may be issued | 13,218,000 | 13,218,000 | |||||||||
Options granted | 3,479,604 | ||||||||||
Options granted, exercise price | $ / shares | $ 2.04 | ||||||||||
Unrecognized share-based compensation cost | ¥ | ¥ 0 | ||||||||||
Restricted shares [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Unrecognized share-based compensation cost | $ 6,834 | ¥ 47,576 | |||||||||
Shares granted | 5,992,605 | 45,000 | 3,319,200 | 1,453,950 | 69,564,000 | 21,132,000 | 1,370,250,000 | 0 | 0 | ||
Shares vesting description | The Restricted Shares have a service condition where the grantees can remove restriction on 25% of total number of Restricted Shares on annual basis over a four-year period ending the fourth anniversary of the grant date. | ||||||||||
Weighted-average vesting period over which deferred cost is expected to be recognized | 2 years 3 months 18 days |
SHARE-BASED AWARDS (Schedule of
SHARE-BASED AWARDS (Schedule of Assumptions Used) (Details) | Feb. 18, 2014 |
SHARE-BASED AWARDS | |
Risk-free interest rate | 2.33% |
Dividend yield | 5.00% |
Exercise multiple | 2.50% |
Expected volatility range | 39.03% |
SHARE-BASED AWARDS (Schedule _2
SHARE-BASED AWARDS (Schedule of Stock Options) (Details) - USD ($) | Feb. 18, 2014 | Dec. 31, 2019 | Dec. 31, 2018 |
Number of Shares | |||
Outstanding, beginning balance | 3,130,113 | ||
Granted | 3,479,604 | ||
Forfeited | (355,884) | ||
Outstanding, ending balance | 2,774,229 | 3,130,113 | |
Exercisable | 2,774,229 | ||
Weighted Average Exercise Price | |||
Outstanding, beginning balance | $ 2.21 | ||
Granted | $ 2.04 | ||
Forfeited | 3.55 | ||
Outstanding, ending balance | 2.04 | $ 2.21 | |
Exercisable | 2.04 | ||
Weighted Average Grant-date Fair Value | |||
Outstanding, beginning balance | 0.61 | ||
Forfeited | 1.25 | ||
Outstanding, ending balance | 0.65 | $ 0.61 | |
Exercisable | $ 0.65 | ||
Weighted Average Remaining Contractual Term (Years) | |||
Outstanding | 2 years 1 month 21 days | 3 years 1 month 21 days | |
Forfeited | 0 years | ||
Exercisable | 2 years 1 month 21 days | ||
Aggregate Intrinsic Value | |||
Outstanding at Begining of the period | $ 0 | ||
Exercisable | 0 | ||
Outstanding at Ending of the period | $ 0 | $ 0 |
SHARE-BASED AWARDS (Summary of
SHARE-BASED AWARDS (Summary of Restricted Shares) (Details) - $ / shares | Oct. 02, 2018 | Sep. 13, 2017 | Aug. 08, 2017 | Aug. 07, 2017 | Aug. 01, 2014 | Jul. 01, 2014 | Feb. 18, 2014 | Dec. 31, 2019 | Dec. 31, 2016 | Dec. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Forfeited | (355,884) | |||||||||
Restricted shares [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Beginning balance | 11,573,802 | |||||||||
Numbers of shares, Granted | 5,992,605 | 45,000 | 3,319,200 | 1,453,950 | 69,564,000 | 21,132,000 | 1,370,250,000 | 0 | 0 | |
Numbers of shares, Vested | (63,618) | |||||||||
Numbers of shares, Forfeited | (83,250) | |||||||||
Numbers of shares, Ending balance | 11,426,934 | |||||||||
Numbers of shares, Exercisable | 1,073,679 | |||||||||
Expected to vest | 10,353,255 | |||||||||
Weighted average grant date fair value, Beginning balance | $ 1.32 | |||||||||
Weighted average grant date fair value, Vested | 1.34 | |||||||||
Weighted average grant date fair value, Forfeited | 1.93 | |||||||||
Weighted average grant date fair value, Ending balance | 1.32 | |||||||||
Weighted average grant date fair value, Exercisable | 1.93 | |||||||||
Expected to vest | $ 1.25 | |||||||||
Restricted shares [Member] | February 18, 2014 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 1,370,250 | |||||||||
Weighted average grant date fair value, Granted | $ 1.93 | |||||||||
Restricted shares [Member] | July 1, 2014 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 21,132 | |||||||||
Weighted average grant date fair value, Granted | $ 2.35 | |||||||||
Restricted shares [Member] | August 1, 2014 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 69,564 | |||||||||
Weighted average grant date fair value, Granted | $ 2.44 | |||||||||
Restricted shares [Member] | August 7, 2017 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 1,453,950 | |||||||||
Weighted average grant date fair value, Granted | $ 1.33 | |||||||||
Restricted shares [Member] | August 8, 2017 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 3,319,200 | |||||||||
Weighted average grant date fair value, Granted | $ 1.34 | |||||||||
Restricted shares [Member] | September 13, 2017 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 45,000 | |||||||||
Weighted average grant date fair value, Granted | $ 1.33 | |||||||||
Restricted shares [Member] | October 2, 2018 [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Numbers of shares, Granted | 5,992,605 | |||||||||
Weighted average grant date fair value, Granted | $ 1.19 |
SHARE-BASED AWARDS (Schedule _3
SHARE-BASED AWARDS (Schedule of Share-Based Compensation Expense) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation | $ 2,958 | ¥ 20,593 | ¥ 11,139 | ¥ 11,641 |
General and administrative expenses | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation | 2,539 | 17,673 | 9,173 | 10,099 |
Selling Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation | $ 419 | ¥ 2,920 | ¥ 1,966 | ¥ 1,542 |
Revenue (Details)
Revenue (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 20,081 | ¥ 139,804 | ¥ 114,175 | ¥ 91,408 |
Out of scope of ASC 606 revenue: | ||||
Leasing and management services* | 7,683 | 53,485 | 71,864 | 232,015 |
Sales-type lease income* | 162 | 1,130 | ||
Direct financing lease income* | 567 | 3,944 | 4,859 | 7,554 |
Total, out of scope of ASC 606 revenue | 8,412 | 58,559 | 76,723 | 239,569 |
Total revenue | 28,493 | 198,363 | 190,898 | 330,977 |
Management services and technical services | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 6,954 | 48,416 | 50,291 | 46,143 |
Brand royalty fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 730 | 5,081 | 5,189 | 6,604 |
Consumable sales | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 1,362 | 9,482 | 5,867 | 7,005 |
Medical service | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | 7,763 | 54,048 | 37,770 | 31,599 |
Medicine income | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue | $ 3,272 | ¥ 22,777 | ¥ 15,058 | ¥ 57 |
RELATED PARTY TRANSACTIONS (Sch
RELATED PARTY TRANSACTIONS (Schedule of Related Party Transactions) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Related Party Transaction [Line Items] | ||||
Loan to: | $ 5,113 | ¥ 35,591 | ¥ 1,510 | ¥ 0 |
Loan from: | 0 | 0 | 111,769 | 650,969 |
Interest expense to: | 22 | 151 | 193 | 31,716 |
Repayment to: | 5,355 | 37,284 | 59,455 | 0 |
Repayment from: | 3,948 | 27,485 | 0 | 0 |
Management service income from: | 730 | 5,081 | 9,141 | 10,695 |
Xi'an JiangyuanAndike Ltd. ("JYADK") [Member] | ||||
Related Party Transaction [Line Items] | ||||
Interest income from: | 30 | 206 | 285 | 221 |
Tianjin Jiatai [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan to: | 855 | 5,949 | 50 | 0 |
Loan from: | 0 | 0 | 0 | 91,855 |
Interest expense to: | 0 | 0 | 193 | 0 |
Repayment to: | 4,961 | 34,540 | 36,420 | 0 |
Management service income from: | 0 | 0 | 0 | 6,577 |
Allcure Information [Member] | ||||
Related Party Transaction [Line Items] | ||||
Payment of interest expense | 1,293 | 9,000 | 0 | |
JYADK [Member] | ||||
Related Party Transaction [Line Items] | ||||
Repayment from: | 213 | 1,485 | 0 | 0 |
SH MZJH [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan to: | 4,022 | 28,002 | 1,000 | 0 |
Loan from: | 0 | 0 | 12,420 | 0 |
Repayment from: | 3,735 | 26,000 | 0 | 0 |
Management service income from: | 730 | 5,081 | 4,810 | 0 |
Shanghai Huifu Technology Limited [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan from: | 0 | 0 | 22,000 | 0 |
Repayment to: | 246 | 1,715 | 20,285 | 0 |
Wuxi MZJH [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan to: | 236 | 1,640 | 460 | 0 |
Loan from: | 0 | 0 | 1,850 | 0 |
SH Rongchi [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan from: | 0 | 0 | 18,820 | 0 |
Repayment to: | 148 | 1,029 | 0 | 0 |
Cherrylane Investment Limited [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan from: | 0 | 0 | 12,720 | 0 |
Interest expense to: | 22 | 151 | 0 | 0 |
Repayment to: | 0 | 0 | 2,750 | 0 |
Guofu Huimei [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan from: | 0 | 0 | 0 | 300,000 |
Interest expense to: | 0 | 0 | 15,997 | 31,716 |
Interest expense capitalized | 0 | 15,997 | ||
Beijing Century Friendship [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan from: | 0 | 0 | 30,551 | 218,104 |
CMCC [Member] | ||||
Related Party Transaction [Line Items] | ||||
Loan from: | 0 | 0 | 13,408 | 41,010 |
Management service income from: | $ 0 | ¥ 0 | 4,331 | ¥ 4,118 |
Shanghai Epu Investment Limited [Member] | ||||
Related Party Transaction [Line Items] | ||||
Interest expense to: | ¥ 16,190 |
RELATED PARTY TRANSACTIONS (S_2
RELATED PARTY TRANSACTIONS (Schedule of Related Party Balances) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Related Party Transaction [Line Items] | |||
Due from related parties, current: | $ 550 | ¥ 3,833 | ¥ 20,671 |
Due to related parties - current | 1,454 | 10,120 | 15,985 |
Due to related parties - noncurrent | 0 | 0 | 222,518 |
Xi'an JiangyuanAndike Ltd. ("JYADK") [Member] | |||
Related Party Transaction [Line Items] | |||
Due from related parties, current: | 550 | 3,833 | 5,112 |
Tianjin Jiatai [Member] | |||
Related Party Transaction [Line Items] | |||
Due to related parties - noncurrent | 0 | 0 | 56,979 |
Allcure [Member] | |||
Related Party Transaction [Line Items] | |||
Due from related parties, current: | 0 | 0 | 9,000 |
SH MZJH | |||
Related Party Transaction [Line Items] | |||
Due from related parties, current: | 0 | 0 | 6,099 |
Due to related parties - current | 0 | 0 | 12,420 |
Shanghai Huifu Technology Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Due to related parties - current | 0 | 0 | 1,715 |
Wuxi MZJH [Member] | |||
Related Party Transaction [Line Items] | |||
Due from related parties, current: | 0 | 0 | 460 |
Due to related parties - current | 0 | 0 | 1,850 |
Cherrylane Investment Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Due to related parties - current | 1,454 | 10,120 | 0 |
Due to related parties - noncurrent | 0 | 0 | 9,969 |
SH Rongchi [Member] | |||
Related Party Transaction [Line Items] | |||
Due to related parties - noncurrent | $ 0 | ¥ 0 | ¥ 155,570 |
EMPLOYEE DEFINED CONTRIBUTION_2
EMPLOYEE DEFINED CONTRIBUTION PLAN (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
CHINA | ||||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||||
Contributions to defined contribution plans | $ 3,285 | ¥ 22,868 | ¥ 13,291 | ¥ 13,348 |
Singapore [Member] | ||||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||||
Contributions to defined contribution plans | $ 42 | ¥ 290 | ¥ 315 | ¥ 399 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Long-term Purchase Commitment [Line Items] | |||
Unrecognized tax positions | $ 14,758 | ¥ 102,740 | |
Capital Addition Purchase Commitments [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Commitments to Acquire Certain Medical Equipment | $ 89,429 | ¥ 622,584 | ¥ 660,758 |
SEGMENT REPORTING (Narrative) (
SEGMENT REPORTING (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||
Concentration Risk, Percentage | 10.00% | |
Changhai Hospital | Sales Revenue, Net | ||
Segment Reporting Information [Line Items] | ||
Concentration Risk, Percentage | 12.50% |
SEGMENT REPORTING (Schedule of
SEGMENT REPORTING (Schedule of Segment Information) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2019CNY (¥) | |
Segment reporting [Line Items] | |||||
Revenues from external customers | $ 28,493 | ¥ 198,363 | ¥ 190,898 | ¥ 330,977 | |
Cost of sales | (30,767) | (214,193) | (171,136) | (232,979) | |
Gross profit (loss) | (2,274) | (15,830) | 19,762 | 97,998 | |
Total assets | 617,290 | 4,585,394 | ¥ 4,297,445 | ||
Network Segment [Member] | |||||
Segment reporting [Line Items] | |||||
Revenues from external customers | 121,537 | 138,070 | 299,321 | ||
Cost of sales | (77,131) | (79,266) | (166,407) | ||
Gross profit (loss) | 44,406 | 58,804 | 132,914 | ||
Hospital [Member] | |||||
Segment reporting [Line Items] | |||||
Revenues from external customers | 76,826 | 52,828 | 31,656 | ||
Cost of sales | (137,062) | (91,870) | (66,572) | ||
Gross profit (loss) | ¥ (60,236) | (39,042) | ¥ (34,916) | ||
Operation segment [Member] | |||||
Segment reporting [Line Items] | |||||
Total assets | 617,290 | 4,585,394 | 4,297,445 | ||
Operation segment [Member] | Network Segment [Member] | |||||
Segment reporting [Line Items] | |||||
Total assets | 148,063 | 2,103,569 | 1,030,782 | ||
Operation segment [Member] | Hospital [Member] | |||||
Segment reporting [Line Items] | |||||
Total assets | $ 469,227 | ¥ 2,481,825 | ¥ 3,266,663 |
SEGMENT REPORTING (Schdeule of
SEGMENT REPORTING (Schdeule of Net Revenue by Country based upon Sales Location that Predominately represents Customer Location) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Segment reporting [Line Items] | ||||
Net Revenues | $ 28,493 | ¥ 198,363 | ¥ 190,898 | ¥ 330,977 |
CHINA | ||||
Segment reporting [Line Items] | ||||
Net Revenues | 23,581 | 164,167 | 149,548 | 302,304 |
SINGAPORE | ||||
Segment reporting [Line Items] | ||||
Net Revenues | $ 4,912 | ¥ 34,196 | ¥ 41,350 | ¥ 28,673 |
SEGMENT REPORTING (Schdeule o_2
SEGMENT REPORTING (Schdeule of Total Long-Lived Assets excluding Financial Instruments, Intangible Assets and Deferred Tax Assets by Country) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Segment reporting [Line Items] | |||
Total long-lived assets other than financial instruments, intangible assets and deferred tax assets | $ 455,604 | ¥ 3,171,828 | ¥ 2,317,628 |
CHINA | |||
Segment reporting [Line Items] | |||
Total long-lived assets other than financial instruments, intangible assets and deferred tax assets | 415,245 | 2,890,858 | 2,036,133 |
SINGAPORE | |||
Segment reporting [Line Items] | |||
Total long-lived assets other than financial instruments, intangible assets and deferred tax assets | $ 40,359 | ¥ 280,970 | ¥ 281,495 |
LOSS PER SHARE (Schedule of Bas
LOSS PER SHARE (Schedule of Basic and Diluted Income Per Share) (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2019CNY (¥)¥ / sharesshares | Dec. 31, 2018CNY (¥)¥ / sharesshares | Dec. 31, 2017CNY (¥)¥ / sharesshares | |
Numerator: | ||||
Net loss attributable to Concord Medical Services Holdings Limited | $ (44,105) | ¥ (307,049) | ¥ (234,875) | ¥ (284,320) |
Accretion of contingently redeemable noncontrolling interests | (35,261) | (245,477) | (124,355) | 0 |
Numerator for EPS computation | $ (79,366) | ¥ (552,526) | ¥ (359,230) | (284,320) |
Net loss attributable to ordinary shareholders used in calculating loss per ordinary share - basic and diluted | ¥ | ¥ (284,320) | |||
Denominator: | ||||
Weighted average number of ordinary shares outstanding used in calculating loss per share - basic and diluted | 130,238,498 | 130,238,498 | 130,104,787 | 130,091,977 |
Loss per share - basic and diluted | (per share) | $ (0.61) | ¥ (4.24) | ¥ (2.76) | ¥ (2.19) |
Common Class A [Member] | ||||
Numerator: | ||||
Net loss attributable to ordinary shareholders used in calculating loss per ordinary share - basic and diluted | $ (51,463) | ¥ (358,274) | ¥ (328,403) | |
Denominator: | ||||
Weighted average number of ordinary shares outstanding used in calculating loss per share - basic and diluted | 84,450,550 | 84,450,550 | 118,940,054 | |
Loss per share - basic and diluted | (per share) | $ (0.61) | ¥ (4.24) | ¥ (2.76) | |
Common Class B [Member] | ||||
Numerator: | ||||
Net loss attributable to ordinary shareholders used in calculating loss per ordinary share - basic and diluted | $ (27,903) | ¥ (194,252) | ¥ (30,827) | |
Denominator: | ||||
Weighted average number of ordinary shares outstanding used in calculating loss per share - basic and diluted | 45,787,948 | 45,787,948 | 11,164,733 | |
Loss per share - basic and diluted | (per share) | $ (0.61) | ¥ (4.24) | ¥ (2.76) |
FAIR VALUE MEASUREMENTS (Schedu
FAIR VALUE MEASUREMENTS (Schedule of Fair Value Measurements for Each Class of Assets on Nonrecurring Basis) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | |
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Available-for-sale debt investments | ¥ 50,000 | ¥ 0 | ||
Recurring [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Available-for-sale debt investments | 50,000 | |||
Total loss | 0 | |||
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Available-for-sale debt investments | 50,000 | |||
Recurring [Member] | Significance Other Observable Inputs (Level 2) [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Available-for-sale debt investments | 0 | |||
Recurring [Member] | Significant unobservable inputs (Level 3) [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Available-for-sale debt investments | 0 | |||
Nonrecurring [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Long-lived assets held and used | 3,467 | $ 285 | 1,985 | |
Total loss | ¥ (6,849) | (4,418) | ||
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Long-lived assets held and used | 0 | 0 | ||
Nonrecurring [Member] | Significance Other Observable Inputs (Level 2) [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Long-lived assets held and used | 0 | 0 | ||
Nonrecurring [Member] | Significant unobservable inputs (Level 3) [Member] | ||||
FAIR VALUE MEASUREMENTS [Line Items] | ||||
Long-lived assets held and used | ¥ 3,467 | ¥ 1,985 |
FAIR VALUE MEASUREMENTS (Narrat
FAIR VALUE MEASUREMENTS (Narrative) (Details) - Nonrecurring [Member] ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ||||
Carrying amount of long lived assets held for use | $ 1,269 | ¥ 8,834 | ||
Long-lived assets held and used | 285 | ¥ 1,985 | ¥ 3,467 | |
Impairment of long-lived assets | $ 984 | ¥ 6,849 |
PARENT COMPANY ONLY CONDENSED_3
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Condensed balance Sheets) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | Dec. 31, 2016CNY (¥) |
Current assets: | ||||||
Cash and cash equivalent | $ 10,674 | ¥ 74,307 | ¥ 404,742 | |||
Amounts due from subsidiaries | 550 | 3,833 | 20,671 | |||
Total current assets | 40,578 | 282,487 | 1,228,692 | |||
Non-current assets: | ||||||
Total assets | 617,290 | 4,297,445 | 4,585,394 | |||
Current liabilities: | ||||||
Accrued expenses and other liabilities | 39,803 | 277,101 | 418,006 | |||
Amount due to inter-companies | 1,454 | 10,120 | 15,985 | |||
Total current liabilities | 90,129 | 627,451 | 870,265 | |||
Total liabilities | 345,918 | 2,408,207 | 2,311,513 | |||
Shareholders' equity: | ||||||
Treasury stock (12,175,155 and 12,111,537 shares as of December 31, 2018 and 2019, respectively) | (1) | (8) | (8) | |||
Additional paid-in capital | 252,800 | 1,759,941 | 1,758,937 | |||
Accumulated other comprehensive loss | (13,974) | (97,285) | (88,621) | |||
Accumulated deficit | (256,474) | (1,785,517) | (1,232,991) | |||
Total Concord Medical Services Holdings Limited shareholders' equity / (deficit) | (17,634) | (122,764) | 437,422 | |||
Total liabilities, mezzanine equity and equity (deficit) | 617,290 | 4,297,445 | 4,585,394 | |||
Common Class A [Member] | ||||||
Shareholders' equity: | ||||||
Ordinary shares | 10 | 68 | 68 | |||
Common Class B [Member] | ||||||
Shareholders' equity: | ||||||
Ordinary shares | 5 | 37 | 37 | |||
Parent Company [Member] | ||||||
Current assets: | ||||||
Cash and cash equivalent | 78 | 540 | $ 105 | 722 | ¥ 3,104 | ¥ 22,218 |
Amounts due from subsidiaries | 58,061 | 404,213 | 503,087 | |||
Total current assets | 58,139 | 404,753 | 503,809 | |||
Non-current assets: | ||||||
Investments in subsidiaries | 165,903 | 1,154,986 | 1,623,996 | |||
Total assets | 224,042 | 1,559,739 | 2,127,805 | |||
Current liabilities: | ||||||
Short-term bank borrowings | 0 | 0 | 249,202 | |||
Accrued expenses and other liabilities | 7,959 | 55,409 | 29,310 | |||
Amount due to inter-companies | 233,717 | 1,627,094 | 1,411,871 | |||
Total current liabilities | 241,676 | 1,682,503 | 1,690,383 | |||
Total liabilities | 241,676 | 1,682,503 | 1,690,383 | |||
Shareholders' equity: | ||||||
Treasury stock (12,175,155 and 12,111,537 shares as of December 31, 2018 and 2019, respectively) | (1) | (8) | (8) | |||
Additional paid-in capital | 252,800 | 1,759,941 | 1,758,937 | |||
Accumulated other comprehensive loss | (13,974) | (97,285) | (88,621) | |||
Accumulated deficit | (256,474) | (1,785,517) | (1,232,991) | |||
Total Concord Medical Services Holdings Limited shareholders' equity / (deficit) | (17,634) | (122,764) | 437,422 | |||
Total liabilities, mezzanine equity and equity (deficit) | 224,042 | 1,559,739 | 2,127,805 | |||
Parent Company [Member] | Common Class A [Member] | ||||||
Shareholders' equity: | ||||||
Ordinary shares | 10 | 68 | 68 | |||
Parent Company [Member] | Common Class B [Member] | ||||||
Shareholders' equity: | ||||||
Ordinary shares | $ 5 | ¥ 37 | ¥ 37 |
PARENT COMPANY ONLY CONDENSED_4
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Condensed balance Sheets) (Parenthetical) (Details) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Condensed Financial Statements, Captions [Line Items] | ||
Treasury Stock, Shares | 12,111,537 | 12,175,155 |
Common Class A [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Ordinary shares, par value per share | $ 0.0001 | $ 0.0001 |
Ordinary shares, shares authorized | 500,000,000 | 500,000,000 |
Ordinary shares, shares issued | 96,565,584 | 96,565,584 |
Ordinary shares, shares outstanding | 84,454,047 | 84,390,429 |
Common Class B [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Ordinary shares, par value per share | $ 0.0001 | $ 0.0001 |
Ordinary shares, shares authorized | 45,787,948 | 45,787,948 |
Ordinary shares, shares issued | 45,787,948 | 45,787,948 |
Ordinary shares, shares outstanding | 45,787,948 | 45,787,948 |
Parent Company [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Treasury Stock, Shares | 12,111,537 | 12,175,155 |
Parent Company [Member] | Common Class A [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Ordinary shares, par value per share | $ 0.0001 | $ 0.0001 |
Ordinary shares, shares authorized | 500,000,000 | 500,000,000 |
Ordinary shares, shares issued | 142,353,532 | 142,353,532 |
Ordinary shares, shares outstanding | 84,454,047 | 84,390,429 |
Parent Company [Member] | Common Class B [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Ordinary shares, par value per share | $ 0.0001 | $ 0.0001 |
Ordinary shares, shares authorized | 45,787,948 | 45,787,948 |
Ordinary shares, shares issued | 45,787,948 | 45,787,948 |
Ordinary shares, shares outstanding | 45,787,948 | 45,787,948 |
PARENT COMPANY ONLY CONDENSED_5
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Condensed statements of comprehensive loss) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Condensed Financial Statements, Captions [Line Items] | ||||
Revenues | $ 28,493 | ¥ 198,363 | ¥ 190,898 | ¥ 330,977 |
Cost of revenues | (30,767) | (214,193) | (171,136) | (232,979) |
General and administrative expenses | (45,266) | (315,134) | (291,854) | (237,646) |
Selling expenses | (4,344) | (30,241) | (21,718) | (43,608) |
Operating loss | (62,814) | (437,294) | (299,243) | (211,856) |
Interest income | 1,316 | 9,165 | 14,168 | 12,077 |
Interest expense | (4,122) | (28,700) | (46,232) | (89,959) |
Foreign exchange gain | 5,026 | 34,990 | 36,531 | 4,023 |
Net loss attributable to Concord Medical Services Holdings Limited | (44,105) | (307,049) | (234,875) | (284,320) |
Other comprehensive (loss) income, net of tax of nil foreign currency translation adjustments | 1,245 | 8,664 | 41,203 | (40,550) |
Total other comprehensive income (loss), net of tax | (1,245) | (8,664) | (41,203) | 40,550 |
Comprehensive loss attributable to Concord Medical Services Holdings Limited | (45,510) | (316,826) | (277,598) | (247,619) |
Parent Company [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Revenues | 0 | 0 | 0 | 0 |
Cost of revenues | 0 | 0 | 0 | 0 |
General and administrative expenses | (5,619) | (39,118) | (17,051) | (24,431) |
Selling expenses | (422) | (2,938) | (2,021) | (1,802) |
Operating loss | (6,041) | (42,056) | (19,072) | (26,233) |
Equity in loss of subsidiaries | (73,842) | (514,070) | (333,682) | (250,696) |
Interest income | 284 | 1,977 | 14 | 0 |
Interest expense | (931) | (6,481) | (15,325) | (7,554) |
Foreign exchange gain | 1,164 | 8,104 | 8,835 | 163 |
Net loss attributable to Concord Medical Services Holdings Limited | (79,365) | (552,526) | (359,230) | (284,320) |
Other comprehensive (loss) income, net of tax of nil foreign currency translation adjustments | (1,245) | (8,664) | (41,203) | 40,550 |
Total other comprehensive income (loss), net of tax | (1,245) | (8,664) | (41,203) | 40,550 |
Comprehensive loss attributable to Concord Medical Services Holdings Limited | $ (80,610) | ¥ (561,190) | ¥ (400,433) | ¥ (243,770) |
PARENT COMPANY ONLY CONDENSED_6
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Condensed statements of cash flows) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Condensed Financial Statements, Captions [Line Items] | ||||
Net cash used in operating activities | $ (28,058) | ¥ (195,347) | ¥ (38,591) | ¥ 26,732 |
Net cash generated from (used in) investing activities | (153,913) | (1,071,507) | (1,000,355) | (313,010) |
Net cash generated from(used in) financing activities | 73,726 | 513,268 | 1,203,042 | 189,899 |
Cash at beginning of the year | 404,742 | |||
Cash at end of the year | 10,674 | 74,307 | 404,742 | |
Parent Company [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net cash used in operating activities | (4,520) | (31,460) | (5,024) | (89,751) |
Net cash generated from (used in) investing activities | 44,775 | 311,716 | 294,551 | (21,452) |
Net cash generated from(used in) financing activities | (40,289) | (280,483) | (284,824) | 127,106 |
Exchange rate effect on cash | 7 | 45 | (7,085) | (35,017) |
Net decrease in cash | (27) | (182) | (2,382) | (19,114) |
Cash at beginning of the year | 105 | 722 | 3,104 | 22,218 |
Cash at end of the year | $ 78 | ¥ 540 | ¥ 722 | ¥ 3,104 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Feb. 29, 2020CNY (¥)shares | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | Mar. 01, 2020 | |
Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | ||||
Subsequent Event [Line Items] | ||||
Percentage of ownership by the Company | 60.00% | 60.00% | ||
CITIC Industrial [Member] | ||||
Subsequent Event [Line Items] | ||||
Consideration | $ 100,549 | ¥ 700,000,000 | ||
Subsequent Events [Member] | CITIC Industrial [Member] | Beijing MeizhongJiahe Hospital Management Co., Ltd. ("MHM") [Member] | ||||
Subsequent Event [Line Items] | ||||
Consideration | ¥ | ¥ 700,000 | |||
Shares issued | shares | 38,888,888 | |||
Percentage of ownership by the Company | 60.00% | 50.01% |