Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2014
Entity Registrant Name	YY Inc.
Entity Central Index Key	0001530238
Document Type	20-F
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Class A common shares [Member]
Entity Common Stock, Shares Outstanding	706,173,568
Class B common shares [Member]
Entity Common Stock, Shares Outstanding	427,352,696

CONSOLIDATED BALANCE SHEETS In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2014 Class A common shares [Member] USD ($)	Dec. 31, 2014 Class A common shares [Member] CNY	Dec. 31, 2013 Class A common shares [Member] CNY	Dec. 31, 2014 Class B common shares [Member] USD ($)	Dec. 31, 2014 Class B common shares [Member] CNY	Dec. 31, 2013 Class B common shares [Member] CNY
Current assets
Cash and cash equivalents	$ 76,561	475,028	729,598
Short-term deposits	679,266	4,214,576	1,432,863
Restricted short-term deposits	16,117	100,000
Accounts receivable, net	41,491	257,436	100,101
Inventory	233	1,445
Amounts due from related parties	9,843	61,073	73
Prepayments and other current assets	32,901	204,139	67,533
Deferred tax assets	17,960	111,436	66,921
Total current assets	874,372	5,425,133	2,397,089
Non-current assets
Deferred tax assets	224	1,392	625
Investments	30,083	186,654	62,029
Property and equipment, net	37,751	234,228	102,636
Intangible assets, net	24,826	154,034	29,127
Goodwill	48,413	300,382	1,577
Other non-current assets	90,412	560,971	4,864
Total non-current assets	231,709	1,437,661	200,858
Total assets	1,106,081	6,862,794	2,597,947
Current liabilities
Accounts payable (including accounts payable of the consolidated variable interest entity without recourse to the Company of RMB55,818 and RMB101,160 as of December 31, 2013 and 2014, respectively)	16,363	101,525	56,391
Deferred revenue (including deferred revenue of the consolidated variable interest entity without recourse to the Company of RMB292,380 and RMB 354,987 as of December 31, 2013 and 2014, respectively)	57,401	356,150	293,866
Advances from customers (including advances from customers of the consolidated variable interest entity without recourse to the Company of RMB10,656 and RMB 25,897 as of December 31, 2013 and 2014, respectively)	5,500	34,127	19,549
Income taxes payable (including income taxes payable of the consolidated variable interest entity without recourse to the Company of RMB47,974 and RMB 65,162 as of December 31, 2013 and 2014, respectively)	14,370	89,161	78,107
Accrued liabilities and other current liabilities (including accrued liabilities and other current liabilities of the consolidated variable interest entity without recourse to the Company of RMB197,851 and RMB 357,464 as of December 31, 2013 and 2014, respectively)	77,153	478,703	250,760
Amounts due to related parties (including amounts due to related parties of the consolidated variable interest entity without recourse to the Company of RMB2,640 and RMB30,892 as of December 31, 2013 and 2014, respectively)	4,979	30,892	2,640
Total current liabilities	175,766	1,090,558	701,313
Non-current liabilities
Convertible bonds (including convertible bonds of the consolidated variable interest entity without recourse to the Company of nil and nil as of December 31, 2013 and 2014, respectively)	394,543	2,447,980
Long-term payable (including long-term payable of the consolidated variable interest entity without recourse to the Company of nil and RMB183,000 as of December 31, 2013 and 2014, respectively)	29,494	183,000
Deferred revenue(including deferred revenue of the consolidated variable interest entity without recourse to the Company of RMB8,457 and RMB24,383 as of December 31, 2013 and 2014, respectively)	3,930	24,383	9,425
Deferred tax liabilities (including deferred tax liabilities of the consolidated variable interest entity without recourse to the Company of nil and RMB26,709 as of December 31, 2013 and 2014, respectively)	4,305	26,709
Total non-current liabilities	432,272	2,682,072	9,425
Total liabilities	608,038	3,772,630	710,738
Commitments and contingencies
Shareholders' equity
Common shares				7	43	38	5	30	34
Additional paid-in capital	467,469	2,900,458	2,765,614
Statutory reserves	9,101	56,469	40,657
(Accumulated deficits) Retained earnings	28,038	173,963	(874,697)
Accumulated other comprehensive loss	(6,577)	(40,799)	(44,437)
Total shareholders' equity	498,043	3,090,164	1,887,209
Total liabilities and shareholders' equity	$ 1,106,081	6,862,794	2,597,947

CONSOLIDATED BALANCE SHEETS (Parenthetical)(Variable interest entity [Member] CNY) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounts payable	101,160	55,818
Deferred revenue	354,987	292,380
Advances from customers	25,897	10,656
Income taxes payable	65,162	47,974
Accrued liabilities and other current liabilities	357,464	197,851
Amounts due to related parties	30,892	2,640
Convertible bonds
Long-term payable	183,000
Deferred revenue	24,383	8,457
Deferred tax liabilities	26,709

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
In Thousands, except Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CNY

Dec. 31, 2013

CNY

Dec. 31, 2012

CNY

Dec. 31, 2014

Online music and entertainment [Member]

USD ($)

Dec. 31, 2014

Online music and entertainment [Member]

CNY

Dec. 31, 2013

Online music and entertainment [Member]

CNY

Dec. 31, 2012

Online music and entertainment [Member]

CNY

Dec. 31, 2014

Online games [Member]

USD ($)

Dec. 31, 2014

Online games [Member]

CNY

Dec. 31, 2013

Online games [Member]

CNY

Dec. 31, 2012

Online games [Member]

CNY

Dec. 31, 2014

Others [Member]

USD ($)

Dec. 31, 2014

Others [Member]

CNY

Dec. 31, 2013

Others [Member]

CNY

Dec. 31, 2012

Others [Member]

CNY

Dec. 31, 2014

Online advertising [Member]

USD ($)

Dec. 31, 2014

Online advertising [Member]

CNY

Dec. 31, 2013

Online advertising [Member]

CNY

Dec. 31, 2012

Online advertising [Member]

CNY

Net revenues

Total net revenues

$ 592,845

3,678,368

1,823,468

820,031

$ 339,990

2,109,503

852,885

286,446

$ 130,822

811,699

602,111

332,287

$ 98,286

609,823

205,212

83,655

$ 23,747

147,343

163,260

117,643

Cost of revenues

(298,029)

(1,849,149)

(881,999)

(416,133)

Gross profit

294,816

1,829,219

941,469

403,898

Operating expenses

Research and development expenses

(69,495)

(431,188)

(267,005)

(176,725)

Sales and marketing expenses

(16,524)

(102,527)

(24,955)

(16,954)

General and administrative expenses

(35,944)

(223,019)

(200,554)

(109,788)

Total operating expenses

(121,963)

(756,734)

(492,514)

(303,467)

Other income

1,018

6,319

27,078

2,465

Operating income

173,871

1,078,804

476,033

102,896

Gain on disposal of an equity investment

161

999

651

Gain on disposal of a cost investment

2,351

Foreign currency exchange (losses) gains, net

(1,676)

(10,399)

29,555

(4,153)

Interest expense

(9,123)

(56,607)

Interest income

26,588

164,969

60,221

16,316

Other non-operating income

5,917

36,714

Income before income tax expenses

195,738

1,214,480

565,809

118,061

Income tax expenses

(24,866)

(154,283)

(89,951)

(29,041)

Income before share of income in equity method investments, net of income taxes

170,872

1,060,197

475,858

89,020

Share of income in equity method investments, net of income taxes

689

4,275

1,869

157

Net income attributable to YY Inc.

171,561

1,064,472

477,727

89,177

Decretion to convertible redeemable preferred shares redemption value

1,293,875

Allocation of net income to participating preferred shareholders

(478,754)

Net income attributable to common shareholders

171,561

1,064,472

477,727

904,298

Net income

171,561

1,064,472

477,727

89,177

Other comprehensive (loss) income:

Foreign currency translation adjustments, net of nil tax

586

3,638

(31,014)

(1,204)

Comprehensive income attributable to YY Inc.

$ 172,147

1,068,110

446,713

87,973

Net income per common share

-Basic (in CNY/dollars per share)

$ 0.15

^[1]

0.92

^[1]

0.43

^[1]

1.50

^[1]

-Diluted (in CNY/dollars per share)

$ 0.14

^[1]

0.89

^[1]

0.40

^[1]

0.09

^[1]

Weighted average number of common shares used in calculating net income per common share

-Basic (in shares)

1,153,140,699

^[1]

1,153,140,699

^[1]

1,122,475,688

^[1]

604,703,810

^[1]

-Diluted (in shares)

1,198,543,473

^[1]

1,198,543,473

^[1]

1,181,121,297

^[1]

992,468,836

^[1]

[1]	Each ADS represents 20 Class A common shares.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Cost of revenues [Member] USD ($)	Dec. 31, 2014 Cost of revenues [Member] CNY	Dec. 31, 2013 Cost of revenues [Member] CNY	Dec. 31, 2012 Cost of revenues [Member] CNY	Dec. 31, 2014 Research and development expenses [Member] USD ($)	Dec. 31, 2014 Research and development expenses [Member] CNY	Dec. 31, 2013 Research and development expenses [Member] CNY	Dec. 31, 2012 Research and development expenses [Member] CNY	Dec. 31, 2014 Sales and marketing expenses [Member] USD ($)	Dec. 31, 2014 Sales and marketing expenses [Member] CNY	Dec. 31, 2013 Sales and marketing expenses [Member] CNY	Dec. 31, 2012 Sales and marketing expenses [Member] CNY	Dec. 31, 2014 General and administrative expenses [Member] USD ($)	Dec. 31, 2014 General and administrative expenses [Member] CNY	Dec. 31, 2013 General and administrative expenses [Member] CNY	Dec. 31, 2012 General and administrative expenses [Member] CNY
Cost of revenues [Line Items]
Share-based compensation	$ 2,907	18,037	9,860	8,407	$ 8,726	54,141	39,587	35,441	$ 452	2,807	1,318	884	$ 9,613	59,647	66,331	55,619

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICITS) EQUITY In Thousands, except Share data, unless otherwise specified	Total USD ($)	Total CNY	Class A common shares [Member]	Class B common shares [Member]	Redeemable Convertible Series A Preferred Stock [Member] CNY	Redeemable Convertible Series A Preferred Stock [Member] CNY	Redeemable Convertible Series B Preferred Stock [Member] CNY	Redeemable Convertible Series B Preferred Stock [Member] CNY	Redeemable Convertible Series C Preferred Stock [Member] CNY	Redeemable Convertible Series C Preferred Stock [Member] CNY	CEO and Chairman [Member] CNY	Founder of a Subsidiary of a VIE [Member] CNY	Common Stock [Member] Class A common shares [Member] CNY	Common Stock [Member] Class B common shares [Member] CNY	Common Stock [Member] Class B common shares [Member] Redeemable Convertible Series A Preferred Stock [Member] CNY	Common Stock [Member] Class B common shares [Member] Redeemable Convertible Series B Preferred Stock [Member] CNY	Common Stock [Member] Class B common shares [Member] Redeemable Convertible Series C Preferred Stock [Member] CNY	Additional paid-in capital [Member] CNY	Additional paid-in capital [Member] Redeemable Convertible Series A Preferred Stock [Member] CNY	Additional paid-in capital [Member] Redeemable Convertible Series A Preferred Stock [Member] CNY	Additional paid-in capital [Member] Redeemable Convertible Series B Preferred Stock [Member] CNY	Additional paid-in capital [Member] Redeemable Convertible Series B Preferred Stock [Member] CNY	Additional paid-in capital [Member] Redeemable Convertible Series C Preferred Stock [Member] CNY	Additional paid-in capital [Member] Redeemable Convertible Series C Preferred Stock [Member] CNY	Additional paid-in capital [Member] CEO and Chairman [Member] CNY	Additional paid-in capital [Member] Founder of a Subsidiary of a VIE [Member] CNY	Statutory reserves [Member] CNY	(Accumulated deficits) Retained earnings [Member] CNY	(Accumulated deficits) Retained earnings [Member] Redeemable Convertible Series A Preferred Stock [Member] CNY	(Accumulated deficits) Retained earnings [Member] Redeemable Convertible Series B Preferred Stock [Member] CNY	(Accumulated deficits) Retained earnings [Member] Redeemable Convertible Series C Preferred Stock [Member] CNY	Accumulated other comprehensive loss [Member] CNY
Balance at Dec. 31, 2011		(1,861,693)												37				584,093										(2,433,604)				(12,219)
Balance (in shares) at Dec. 31, 2011														543,340,914
Issuance of common shares		515,720											11					515,709
Issuance of common shares (in shares)													179,400,000
Issuance of common shares for vested restricted shares and restricted share units
Issuance of common shares for vested restricted shares and restricted share units (in shares)														5,068,000
Share-based compensation-share options		(89)																(89)
Share-based compensation - restricted shares		36,371									9,624							36,371							9,624
Share based compensation-restricted share units		54,445																54,445
Transferred from convertible redeemable preferred shares upon the completion of the initial public offering						449,496		337,116		400,447					9	6	8			449,487		337,110		400,439
Transferred from convertible redeemable preferred shares upon the completion of the initial public offering (in shares)															136,100,930	102,073,860	121,249,520
Decretion to convertible redeemable preferred shares redemption value		1,293,875			485,517		366,785		441,573										125,813		64,102		71,300						359,704	302,683	370,273
Components of comprehensive income
Net income		89,177																										89,177
Foreign currency translation adjustment, net of nil tax		(1,204)																														(1,204)
Balance at Dec. 31, 2012		1,323,285											11	60				2,648,404										(1,311,767)				(13,423)
Balance (in shares) at Dec. 31, 2012			179,400,000	907,833,224									179,400,000	907,833,224
Issuance of common shares (in shares)			21,256,900
Issuance of common shares for exercised share options		115																115
Issuance of common shares for exercised share options (in shares)													4,648,420
Issuance of common shares for vested restricted shares and restricted share units													1					(1)
Issuance of common shares for vested restricted shares and restricted share units (in shares)													16,608,480
Class B common shares converted to Class A common shares (issued)													26
Class B common shares converted to Class A common shares (issued) (in shares)													422,001,838
Class B common shares converted to Class A common shares (converted)														(26)
Class B common shares converted to Class A common shares (converted) (in shares)														(422,001,838)
Share-based compensation-share options		14,004																14,004
Share-based compensation - restricted shares		7,300																7,300
Share based compensation-restricted share units		95,792																95,792
Decretion to convertible redeemable preferred shares redemption value
Appropriation to statutory reserves																											40,657	(40,657)
Components of comprehensive income
Net income		477,727																										477,727
Foreign currency translation adjustment, net of nil tax		(31,014)																														(31,014)
Balance at Dec. 31, 2013		1,887,209											38	34				2,765,614									40,657	(874,697)				(44,437)
Balance (in shares) at Dec. 31, 2013			622,658,738	485,831,386									622,658,738	485,831,386
Issuance of common shares (in shares)			25,036,140
Issuance of common shares for exercised share options		213																213
Issuance of common shares for exercised share options (in shares)													5,841,660
Issuance of common shares for vested restricted shares and restricted share units													1					(1)
Issuance of common shares for vested restricted shares and restricted share units (in shares)													19,194,480
Class B common shares converted to Class A common shares (issued)													4
Class B common shares converted to Class A common shares (issued) (in shares)													58,478,690
Class B common shares converted to Class A common shares (converted)														(4)
Class B common shares converted to Class A common shares (converted) (in shares)														(58,478,690)
Share-based compensation - restricted shares		3,771										143						3,771								143
Share based compensation-restricted share units		130,718																130,718
Decretion to convertible redeemable preferred shares redemption value
Appropriation to statutory reserves																											15,812	(15,812)
Components of comprehensive income
Net income	171,561	1,064,472																										1,064,472
Foreign currency translation adjustment, net of nil tax		3,638																														3,638
Balance at Dec. 31, 2014	$ 498,043	3,090,164											43	30				2,900,458									56,469	173,963				(40,799)
Balance (in shares) at Dec. 31, 2014			706,173,568	427,352,696									706,173,568	427,352,696

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICITS) EQUITY (Parenthetical)	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICITS) EQUITY [Abstract]
Foreign currency translation adjustments, tax portion

CONSOLIDATED STATEMENTS OF CASH FLOWS In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY
Cash flows from operating activities
Net income	$ 171,561	1,064,472	477,727	89,177
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property and equipment	10,965	68,035	44,963	29,074
Amortization of acquired intangible assets	2,030	12,598	4,707	3,369
Allowance for doubtful accounts	4,532	28,120	31,987	6,884
Loss on disposal of property and equipment	10	61	1	7
Impairment of an equity investment			899
Impairment of a cost investment	645	4,000		453
Impairment of intangible assets	918	5,697		550
Share-based compensation	21,698	134,632	117,096	100,351
Share of income in equity method investments	(689)	(4,275)	(1,869)	(157)
Gain on disposal of an equity investment	(161)	(999)		(651)
Gain on disposal of a cost investment				(2,351)
Deferred income taxes, net	(7,374)	(45,751)	(35,414)	(19,316)
Foreign exchange losses (gains), net	1,676	10,399	(29,555)	4,153
Other non-operating income	(5,917)	(36,714)
Changes in operating assets and liabilities, net
Accounts receivable	(29,579)	(183,527)	(14,472)	(77,478)
Prepayments and other assets	(14,654)	(90,924)	(46,624)	(11,968)
Amounts due from related parties				(73)
Amounts due to related parties	4,553	28,252	36	1,734
Accounts payable	3,734	23,166	26,342	7,214
Deferred revenue	8,759	54,343	136,945	125,541
Advances from customers	2,350	14,578	12,034	5,062
Income tax payable	1,782	11,054	30,106	31,129
Accrued liabilities and other current liabilities	32,901	204,134	136,264	64,148
Net cash provided by operating activities	209,740	1,301,351	891,173	356,852
Cash flows from investing activities
Placements of short-term deposits	(861,286)	(5,343,934)	(1,529,090)	(1,040,302)
Maturities of short-term deposits	410,995	2,550,059	995,996	615,259
Placement of restricted short-term deposits	(24,981)	(155,000)
Maturities of restricted short-term deposits	8,864	55,000
Purchase of property and equipment	(28,764)	(178,470)	(55,606)	(60,881)
Purchase of intangible assets	(3,507)	(21,757)	(14,631)	(1,920)
Purchase of other non-current assets	(82,252)	(510,341)
Cash paid for equity investments	(2,418)	(15,000)	(11,000)	(1,000)
Cash paid for cost investments	(11,830)	(73,402)	(47,110)
Cash received from disposal of a cost investment			3,000	1,000
Cash received from disposal of an equity investment	252	1,563		2,000
Cash paid for business acquisition, net of cash acquired	(27,552)	(170,950)		(11,722)
Payment on behalf of a related party	(9,831)	(61,000)
Loans to related parties	(242)	(1,500)		(1,200)
Repayment of loans from related parties	242	1,500	1,000	2,500
Loans to employees and third parties	(5,723)	(35,512)	(3,770)	(2,930)
Repayment of loans from employees and third parties	730	4,531	1,560	660
Proceeds from disposal of property and equipment	25	158	48	32
Net cash used in investing activities	(637,278)	(3,954,055)	(659,603)	(498,504)
Cash flows from financing activities
Proceeds from exercise of vested share options	34	213	115
Proceeds from initial public offering (net of underwriters' commissions of US$6,593)				550,555
Payments of listing expenses			(5,802)	(27,815)
Proceeds from issuance of convertible bonds, net of issuance costs	387,221	2,402,549
Net cash provided by (used in) financing activities	387,255	2,402,762	(5,687)	522,740
Net increase (decrease) in cash and cash equivalents	(40,283)	(249,942)	225,883	381,088
Cash and cash equivalents at the beginning of the year	117,590	729,598	504,702	128,891
Effect of exchange rate changes on cash and cash equivalents	(746)	(4,628)	(987)	(5,277)
Cash and cash equivalents at the end of the year	76,561	475,028	729,598	504,702
Supplemental disclosure of cash flows information:
-Acquisition of property and equipment in form of accounts payable	4,112	25,514	7,653	5,911
-Income taxes paid	$ (30,458)	(188,979)	(95,259)	(17,228)

Organization and principal activities

12 Months Ended

Dec. 31, 2014

Organization and principal activities [Abstract]

Organization and principal activities

Organization and principal activities

(a)

Principal activities

YY Inc. (the “Company”), through its subsidiaries, its variable interest entities (“VIEs”) and VIE's subsidiaries (collectively, the “Group”) is principally engaged in operating an online social platform in the People's Republic of China (the “PRC” or “China”) through its platform, YY Client and through its website YY.com and Duowan.com.

(b)

Reorganization

The Company was incorporated in the Cayman Islands on July 22, 2011.

The Group began its operations in the PRC in April 2005 through its PRC domestic company, Guangzhou Huaduo Network Technology Co., Ltd. (“Guangzhou Huaduo”), which was directly owned by Mr. David Xueling Li (the “Founder” or the “CEO”) and Mr. Jun Lei (the “Co-founder” or the “Chairman”). Guangzhou Huaduo holds the necessary licenses and approvals to operate internet-related businesses in the PRC.

For the period between July 2006 and April 2007, the Group undertook a reorganization (the “First Reorganization”) and established Duowan Limited (“Duowan Limited”), an investment holding company under the laws of the British Virgin Islands (the “BVI”), Duowan (Hong Kong) Limited (“Duowan (Hong Kong)”), a Hong Kong incorporated company wholly owned by Duowan Limited, and Guangzhou Duowan Information Technology Co., Ltd. (“Guangzhou Duowan”), a wholly-owned foreign enterprise (“WOFE”) in the PRC owned by Duowan (Hong Kong) (collectively “Duowan Limited Group Structure”). The First Reorganization was necessary to comply with PRC laws and regulations which prohibit or restrict foreign ownership of companies that provide internet content services in the PRC where licenses are required.

By entering into a series of agreements among the Founder, the Co-founder, Guangzhou Huaduo, and Guangzhou Duowan (collectively, “First VIE agreements”), Guangzhou Huaduo became a VIE of Guangzhou Duowan. Guangzhou Duowan became the primary beneficiary of Guangzhou Huaduo.

In November 2007, Duowan Entertainment Corporation (“Duowan BVI”) was incorporated in the BVI. In March 2008, Duowan BVI established Duowan Entertainment Information Technology (Beijing) Co., Ltd. (“Duowan Entertainment”), as a WOFE in the PRC and a wholly-owned subsidiary of Duowan BVI. The Group undertook a second reorganization (the “Second Reorganization”) whereby the First VIE agreements among the Founder, the Co-founder, Guangzhou Huaduo and Guangzhou Duowan were terminated and a new series of VIE agreements (collectively, “Second VIE agreements”) were signed among the Founder, the Co-founder, Guangzhou Huaduo and Duowan Entertainment, through which Duowan Entertainment became the primary beneficiary and exercised effective control over the operations of Guangzhou Huaduo. Duowan BVI became the then holding company of the Group.

In August 2008, Duowan Entertainment purchased all the equity interests in Guangzhou Duowan from Duowan (Hong Kong).

In December 2008, the Group undertook another reorganization (the “Third Reorganization”) and acquired all of the equity interests of NeoTasks Inc. (“NeoTasks”), a Cayman Islands company, together with its wholly-owned subsidiary, NeoTasks Limited, its WOFE, NeoTasks International Media Technology (Beijing) Co., Ltd. (“NeoTasks Beijing”), and its VIE, Beijing Tuda Science and Technology Co., Limited (“Beijing Tuda”).

In July 2009, Guangzhou Duowan was renamed as Zhuhai Duowan Information Technology Co., Ltd. (“Zhuhai Duowan”).

In December 2009, another series of VIE agreements (collectively, “Third VIE agreements”) were entered into amongst the legal shareholders of Beijing Tuda and Duowan Entertainment and thus completing the Third Reorganization. Through the aforementioned activities, Beijing Tuda became a VIE, whose primary beneficiary is Duowan Entertainment.

In December 2010, Duowan BVI established Zhuhai Duowan Technology Co., Ltd. (“Zhuhai Duowan Technology”), which is directly 100% owned by Duowan BVI.

On September 6, 2011, pursuant to a share swap agreement, all the then existing shareholders of Duowan BVI exchanged their respective shares, including the Series A, Series B, Series C-1 and Series C-2 Preferred Shares, of Duowan BVI for equivalent classes of shares of the Company on a 1 for 1 basis. As a result, Duowan BVI became a wholly-owned subsidiary of the Company and it also became the holding company of the Group (the “Share Swap”).

In May 2012, Duowan Entertainment was renamed as Huanju Shidai Technology (Beijing) Co., Ltd. (“Beijing Huanju Shidai”).

In September 2012, Zhuhai Duowan Technology was renamed as Guangzhou Huanju Shidai Information Technology Co., Ltd. (“Guangzhou Huanju Shidai”).

The First Reorganization, the Second Reorganization, the Third Reorganization and the Share Swap were all reorganization of entities under common control and have been accounted for in a manner akin to a pooling of interest as if the Company, through its wholly owned subsidiaries, had been in existence and been the primary beneficiary of the VIEs throughout the periods presented in the consolidated financial statements. As a result of these arrangements, the Company, through its wholly owned subsidiaries, is considered the primary beneficiary of two VIEs, Guangzhou Huaduo and Beijing Tuda, and accordingly, their results of operation and financial conditions are consolidated in the financial statements of the Group.

(c)

Initial Public Offering

The Company completed its initial public offering (“IPO”) on November 21, 2012 on the NASDAQ Global Market and the underwriters subsequently exercised their over-allotment option on December 5, 2012. The Company issued and sold a total of 8,970,000 American Depositary Shares (“ADSs”) in these transactions, representing 179,400,000 Class A common shares. Each ADS represents twenty Class A common shares. The net proceeds received by the Company, after deducting commissions and offering expenses, amounted to approximately US$82,055. Upon the completion of the IPO, all of the Company's 359,424,310 outstanding preferred shares and 548,408,914 outstanding common shares were converted into Class B common shares immediately as of the same date.

(d)

Subsidiaries, VIEs and VIE's subsidiaries

The details of the subsidiaries, VIEs and VIE's subsidiaries as of December 31, 2014 are set out below:

Name	Place of incorporation	Date of incorporation or acquisition	% of direct or indirect economic ownership			Principal activities

Subsidiaries

Duowan Entertainment Corporation (“Duowan BVI”)	BVI	November 6, 2007		100	%	Investment holding

NeoTasks Inc. (“NeoTasks”)	Cayman Islands	April 26, 2006		100	%	Investment holding

NeoTasks Limited	Hong Kong	June 16, 2005		100	%	Investment holding

Huanju Shidai Technology (Beijing) Co., Ltd. (“Beijing Huanju Shidai” or “Duowan Entertainment”)	PRC	March 19, 2008		100	%	Investment holding

Zhuhai Duowan Information Technology Co., Ltd. (“Zhuhai Duowan” or “Guangzhou Duowan”)	PRC	April 9, 2007		100	%	Online advertising and software development

Guangzhou Huanju Shidai Information Technology Co., Ltd. (“Guangzhou Huanju Shidai”)	PRC	December 2, 2010		100	%	Software development

Zhuhai Huanju Shidai Information Technology Co., Ltd. (“Zhuhai Huanju Shidai”)	PRC	November 14, 2013		100	%	Software development

Variable Interest Entities (“VIEs”)

Guangzhou Huaduo Network Technology Co., Ltd. (“Guangzhou Huaduo”)	PRC	April 11, 2005		100	%	Holder of internet content provider licenses and internet value added services

Beijing Tuda Science and Technology Co., Ltd. (“Beijing Tuda”)	PRC	June 2, 2005		100	%	Holder of internet content provider licenses

VIE's subsidiaries

Guangzhou Juhui Information Technology Co., Ltd.	PRC	October 24, 2013		100	%	Software development

Guangzhou Huanju Media Co., Ltd. (“Guangzhou Huanju Media”)	PRC	April 1, 2014		100	%	Artists management

Guangzhou Zhuque Information Technology Co., Ltd. (“Zhuque”)	PRC	September 18, 2014		100	%	Online games development

Zhengrenqiang and His Partners Education Technology (Beijing) Co., Ltd. (“Zhengrenqiang”)	PRC	December 2, 2014		100	%	Online education

Beijing DuBooker Culture Communication Co., Ltd. (“DuBooker")	PRC	December 2, 2014		100	%	Publishing of teaching materials

Beijing Huanqiu Xingxue Technology Development Co., Ltd (“Xingxue”)	PRC	December 23, 2014		100	%	Online education

Beijing Huanqiu Chuangzhi Software Co., Ltd (“Chuangzhi”)	PRC	December 23, 2014		100	%	Software development

(e)

Variable Interest Entities

To comply with PRC laws and regulations that prohibit or restrict foreign ownership of companies that provide internet-content, the Group conducts substantially all its operations through Guangzhou Huaduo and Beijing Tuda, which holds the internet value-added service license and approvals to provide such internet services in the PRC. Beijing Huanju Shidai entered into a series of contractual agreements among Beijing Huanju Shidai, Guangzhou Huaduo and their legal shareholders. Beijing Huanju Shidai also entered into a series of contractual agreements among Beijing Huanju Shidai, Beijing Tuda, and Beijing Tuda's legal shareholders.

Guangzhou Huaduo

The Company's relationships with Guangzhou Huaduo and its shareholders are governed by the following contractual arrangements:

•

Exclusive Technology Support and Technology Services Agreement

Under the exclusive technology support and technology services agreement between Beijing Huanju Shidai and Guangzhou Huaduo, Beijing Huanju Shidai has the exclusive right to provide to Guangzhou Huaduo technology support and technology services related to all technologies needed for its business. Beijing Huanju Shidai owns the exclusive intellectual property rights created as a result of the performance of this agreement. The service fee payable by Guangzhou Huaduo to Beijing Huanju Shidai is determined by various factors, including the expenses Beijing Huanju Shidai incurs for providing such services and Guangzhou Huaduo's revenues. The term of this agreement will expire in 2028 and may be extended with Beijing Huanju Shidai's written confirmation prior to the expiration date. Beijing Huanju Shidai is entitled to terminate the agreement at any time by providing 30 days' prior written notice to Guangzhou Huaduo.

•

Exclusive Business Cooperation Agreement

Under the exclusive business cooperation agreement between Beijing Huanju Shidai and Guangzhou Huaduo, Beijing Huanju Shidai has the exclusive right to provide to Guangzhou Huaduo technology support, business support and consulting services related to the services provided by Guangzhou Huaduo, the scope of which is to be determined by Beijing Huanju Shidai from time to time. Beijing Huanju Shidai owns the exclusive intellectual property rights created as a result of the performance of this agreement. The service fee payable by Guangzhou Huaduo to Beijing Huanju Shidai is a certain percentage of its earnings. The term of this agreement will expire in 2039 and may be extended with Beijing Huanju Shidai's written confirmation prior to the expiration date. Beijing Huanju Shidai is entitled to terminate the agreement at any time by providing 30 days' prior written notice to Guangzhou Huaduo.

•

Exclusive Option Agreement

The parties to the exclusive option agreement are Beijing Huanju Shidai, Guangzhou Huaduo and each of the shareholders of Guangzhou Huaduo. Under the exclusive option agreement, each of the shareholders of Guangzhou Huaduo irrevocably granted Beijing Huanju Shidai or its designated representative(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of his or its equity interests in Guangzhou Huaduo. Beijing Huanju Shidai or its designated representative(s) have sole discretion as to when to exercise such options, either in part or in full. Without Beijing Huanju Shidai's prior written consent, Guangzhou Huaduo's shareholders shall not sell, transfer, mortgage or otherwise dispose their equity interests in Guangzhou Huaduo. The term of this agreement is ten years and may be extended at Beijing Huanju Shidai's sole discretion.

•

Powers of Attorney

Pursuant to the irrevocable power of attorney executed by each shareholder of Guangzhou Huaduo, each such shareholder appointed Beijing Huanju Shidai as its attorney-in-fact to exercise such shareholders' rights in Guangzhou Huaduo, including, without limitation, the power to vote on its behalf on all matters of Guangzhou Huaduo requiring shareholder approval under PRC laws and regulations and the articles of association of Guangzhou Huaduo. Each power of attorney will remain in force until the shareholder ceases to hold any equity interest in Guangzhou Huaduo.

•

Share Pledge Agreement

Pursuant to the share pledge agreement between Beijing Huanju Shidai and the shareholders of Guangzhou Huaduo, the shareholders of Guangzhou Huaduo have pledged all of their equity interests in Guangzhou Huaduo to Beijing Huanju Shidai to guarantee the performance by Guangzhou Huaduo and its shareholders' performance of their respective obligations under the exclusive business cooperation agreement, exclusive option agreement, exclusive technology support and technology services agreement and powers of attorney. If Guangzhou Huaduo and/or its shareholders breach their contractual obligations under those agreements, Beijing Huanju Shidai, as pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests.

Beijing Tuda

The Company's relationships with Beijing Tuda and its shareholders are governed by the following contractual arrangements:

•

Exclusive Technology Support and Technology Services Agreement

Pursuant to the exclusive technology support and technology services agreement between Beijing Huanju Shidai and Beijing Tuda, Beijing Huanju Shidai has the exclusive right to provide to Beijing Tuda technology support and technology services related to all technologies needed for its business. Beijing Huanju Shidai owns the exclusive intellectual property rights created as a result of the performance of this agreement. The service fee payable by Beijing Tuda to Beijing Huanju Shidai is determined by various factors, including the expenses Beijing Huanju Shidai incurs for providing such services and Beijing Tuda's revenues. The term of this agreement will expire in 2029 and may be extended with Beijing Huanju Shidai's written confirmation prior to the expiration date. Beijing Huanju Shidai is entitled to terminate the agreement at any time by providing 30 days' prior written notice to Beijing Tuda.

•

Exclusive Business Cooperation Agreement

Pursuant to the exclusive business cooperation agreement between Beijing Huanju Shidai and Beijing Tuda, Beijing Huanju Shidai has the exclusive right to provide to Beijing Tuda technology support, business support and consulting services related to the services provided by Beijing Tuda, the scope of which is to be determined by Beijing Huanju Shidai from time to time. Beijing Huanju Shidai owns the exclusive intellectual property rights created as a result of the performance of this agreement. The service fee payable by Beijing Tuda to Beijing Huanju Shidai is a certain percentage of its earnings. The term of this agreement will expire in 2039 and may be extended with Beijing Huanju Shidai's written confirmation prior to the expiration date. Beijing Huanju Shidai is entitled to terminate the agreement at any time by providing 30 days' prior written notice to Beijing Tuda.

•

Exclusive Option Agreement

The parties to the exclusive option agreement are Beijing Huanju Shidai, Beijing Tuda and each of the shareholders of Beijing Tuda. Under the exclusive option agreement, each of the shareholders of Beijing Tuda irrevocably granted Beijing Huanju Shidai or its designated representative(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of his or its equity interests in Beijing Tuda. Beijing Huanju Shidai or its designated representative(s) have sole discretion as to when to exercise such options, either in part or in full. Without Beijing Huanju Shidai's prior written consent, Beijing Tuda's shareholders shall not sell, transfer, mortgage or otherwise dispose their equity interests in Beijing Tuda. The term of this agreement is ten years and may be extended at Beijing Huanju Shidai's sole discretion.

•

Powers of Attorney

Pursuant to the irrevocable power of attorney executed by each shareholder of Beijing Tuda, each such shareholder appointed Beijing Huanju Shidai as its attorney-in-fact to exercise such shareholders' rights in Beijing Tuda, including, without limitation, the power to vote on its behalf on all matters of Beijing Tuda requiring shareholder approval under PRC laws and regulations and the articles of association of Beijing Tuda. Each power of attorney will remain in force until the shareholder ceases to hold any equity interest in Beijing Tuda.

•

Share Pledge Agreement

Under the share pledge agreement between Beijing Huanju Shidai and the shareholders of Beijing Tuda, the shareholders of Beijing Tuda have pledged all of their equity interests in Beijing Tuda to Beijing Huanju Shidai to guarantee the performance by Beijing Tuda and its shareholders' performance of their respective obligations under the exclusive business cooperation agreement, exclusive option agreement, exclusive technology support and technology services agreement and powers of attorney. If Beijing Tuda or its shareholders breach their contractual obligations under those agreements, Beijing Huanju Shidai, as pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests.

Through the aforementioned contractual agreements, Guangzhou Huaduo and Beijing Tuda are considered VIEs in accordance with Generally Accepted Accounting Principles in the United States (“US GAAP”) because the Company, through Beijing Huanju Shidai has the ability to:

•

exercise effective control over Guangzhou Huaduo or Beijing Tuda;

•

receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks and expected losses from VIEs as if it were their sole shareholder; and

•

have an exclusive option to purchase all of the equity interests in the VIEs.

Management evaluated the relationships among the Company, Beijing Huanju Shidai, the VIEs and concluded that Beijing Huanju Shidai is the primary beneficiary of the VIEs. As a result, the VIEs' results of operations, assets and liabilities have been included in the Company's consolidated financial statements.

As of December 31, 2014, the total assets of the consolidated VIEs and VIE's subsidiaries were RMB2,651,352, mainly comprising cash and cash equivalents, short-term deposits, restricted short-term deposits, accounts receivable, prepayments and other current assets, investments, property and equipment, intangible assets, goodwill and deferred tax assets. As of December 31, 2014, the total liabilities of the consolidated VIEs and VIE's subsidiaries were RMB1,169,654, mainly comprising accounts payable, deferred revenue, accrued liabilities and other current liabilities, income taxes payable and long-term payable.

In accordance with the aforementioned agreements, the Company has power to direct activities of the VIEs, and can have assets transferred out of the VIEs. Therefore the Company considers that there is no asset in the consolidated VIEs and VIE's subsidiaries that can be used only to settle obligations of the consolidated VIEs and VIE's subsidiaries, except for registered capital and PRC statutory reserves of the VIEs and VIE's subsidiaries amounting to RMB292,827 as of December 31, 2014. As the consolidated VIEs and VIE's subsidiaries were incorporated as limited liability companies under the PRC Company Law, the creditors do not have recourse to the general credit of the Company for all the liabilities of the consolidated VIEs and VIE's subsidiaries.

Currently there is no contractual arrangement that could require the Company to provide additional financial support to the VIEs. As the Company is conducting its PRC internet value-added services business through the VIEs, the Company will, if needed, provide such support on a discretional basis in the future, which could expose the Company to a loss.

There is no VIE where the Company has variable interest but is not the primary beneficiary.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References+ Details

Principal accounting policies

12 Months Ended

Dec. 31, 2014

Principal accounting policies [Abstract]

Principal accounting policies

2.	Principal accounting policies

(a)

Basis of presentation

The consolidated financial statements have been prepared in accordance with the US GAAP to reflect the financial position and results of operations of the Group.

(b)

Consolidation

The Group's consolidated financial statements include the financial statements of the Company, its subsidiaries, and its VIEs and VIE's subsidiaries for which the Company or its subsidiary is the primary beneficiary. All transactions and balances among the Company, its subsidiaries, its VIEs and VIE's subsidiaries have been eliminated upon consolidation.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIEs economic performance, and also the Company's obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Beijing Huanju Shidai and ultimately the Company hold all the variable interests of the VIEs and VIE's subsidiaries and has been determined to be the primary beneficiary of the VIEs and VIE's subsidiaries.

(c)

Use of estimates

The preparation of the Company's consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from such estimates. The Company believes that lives of the game and lives of the user relationship related to online games revenue, assessment of whether the Group acts as a principal or an agent in different revenue streams, classification of perpetual items versus consumable items under item-based model, the determination of estimated selling prices of multiple element revenue contracts, sales rebate to advertising agencies, income taxes, allowances for doubtful accounts, determination of share-based compensation expenses, impairment assessment of goodwill, long-lived assets and intangible assets, tax considerations for earnings retained in the Group's VIEs, fair value determination related to the accounting for business combinations, represent critical accounting policies that reflect more significant judgments and estimates used in the preparation of its consolidated financial statements.

Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

(d)

Foreign currency translation

The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated in the Cayman Islands, British Virgin Islands, and Hong Kong is United States dollar (“US$”), while the functional currency of the other entities, VIEs and VIE's subsidiaries in the Group is RMB, which is their respective local currency. In the consolidated financial statements, the financial information of the Company and its subsidiaries, which use US$ as their functional currency, have been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains, and losses are translated using the average exchange rate for the period. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a component of other comprehensive income or loss in the statement of operations and comprehensive income.

Foreign currency transactions denominated in currencies other than functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are remeasured at the applicable rates of exchange in effect at that date. Foreign exchange gains and losses resulting from the settlement of such transactions and from remeasurement at year-end are recognized in foreign currency exchange gains (losses), net in the consolidated statement of operations.

(e)

Convenience translation

Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the noon buying rate of US$1.00 = RMB6.2046 on December 31, 2014 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate.

(f)

Fair value of financial instruments

US GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is:

Level 1—observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2—other inputs that are directly or indirectly observable in the marketplace.
Level 3—unobservable inputs which are supported by little or no market activity.

The carrying values of cash and cash equivalents, short-term deposits, restricted short-term deposits, accounts receivable, other receivables, amounts due from (to) related parties, accounts payable, and other payables approximate their fair values because of their generally short maturities, and the carrying value of convertible bonds also approximates their fair value, as they bear interest at rates determined based on prevailing interest rates in the market.

The fair value of the contingent consideration recognized on the acquisition date was measured using unobservable input (level 3). Trinomial tree model was applied in determining the fair value of the contingent consideration. Under this model, the Group performs a scenario analysis and calculates the fair value of the contingent consideration based on the net present value of the total contingent payments under each scenario and the expected probability of each scenario. Contingent consideration is remeasured at fair value at each reporting date since initial recognition.

(g)

Cash and cash equivalents

Cash includes currency on hand and deposits held by financial institutions that can be added to or withdrawn without limitation. Cash equivalents represent short-term and highly liquid investments placed with banks, which have both of the following characteristics:

Readily convertible to known amounts of cash throughout the maturity period;

ii)

So near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

(h)

Short-term deposits

Short-term deposits represent time deposits placed with banks with original maturities of less than one year. Interest earned is recorded as interest income in the consolidated statements of operations during the periods presented.

(i)

Accounts receivable, net

Accounts receivable are presented net of allowance for doubtful accounts. The Group uses specific identification in providing for bad debts when facts and circumstances indicate that collection is doubtful and a loss is probable and estimable. If the financial conditions of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowance may be required.

The Company maintains an allowance for doubtful accounts which reflects its best estimate of amounts that potentially will not be collected. The Company determines the allowance for doubtful accounts on an individual basis taking into consideration various factors including but not limited to historical collection experience and credit-worthiness of the debtors as well as the age of the individual receivables balance. Additionally, the Company makes specific bad debt provisions based on any specific knowledge the Company has acquired that might indicate that an account is uncollectible. The facts and circumstances of each account may require the Company to use substantial judgment in assessing its collectability.

(j)

Equity investment

The equity investment is comprised of investments in privately-held companies. The Group accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control using the equity method. The Group adjusts the carrying amount of the investment and recognizes investment income or loss for share of the earnings or loss of the investee after the date of investment. The Group assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the companies, including current earnings trends and undiscounted cash flows, and other company-specific information. The fair value determination, particularly for investment in privately-held companies, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary.

(k)

Cost investment

The cost investment is comprised of investments in privately-held companies. The Group accounts for cost investment which has no readily determinable fair value using the cost method. Under the cost method, the investment is measured initially at cost. The investment carried at cost should recognize income when dividends are received from the distribution of the investee's earnings. The Group periodically evaluates the carrying value of investments accounted for under the cost method of accounting and any impairment is included in the consolidated statements of operations.

(l)

Property and equipment

Property and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight-line method over their estimated useful lives. Residual rate is determined based on the economic value of the equipment at the end of the estimated useful lives as a percentage of the original cost.

	Estimated useful lives	Residual rate
Servers, computers and equipment	3 years	0%-5%
Furniture, fixture and office equipment	5 years	0%-5%
Motor vehicles	4 years	5%
Leasehold improvement	Shorter of lease term or 5 years	-

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of operations.

All direct and indirect costs that are related to the construction of property and equipment and incurred before the assets are ready for their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment items and depreciation of these assets commences when they are ready for their intended use.

(m)

Business combinations

Business combinations are recorded using the purchase method of accounting, and the cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of the (i) the total of consideration of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the subsidiary acquired over (ii) the fair value of the identifiable net assets of the subsidiary acquired is recorded as goodwill. If the consideration of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of operations and comprehensive income.

(n)

Intangible assets, net

Intangible assets mainly consist of brand names, domain names and software. Identifiable intangible assets are carried at acquisition cost less accumulated amortization and impairment loss, if any. Finite-lived intangible assets are tested for impairment if impairment indicators arise. Amortization of finite-lived intangible assets is computed using the straight-line method over the following estimated useful lives, which are as follows:

		Estimated useful lives

Software		3 -5 years
Technology		5 years
Domain names		15 years
Operating rights for licensed games		Shorter of the economic life or license period of relevant online game
Brand names		1-15 years

(o)

Impairment of long-lived assets

For other long-lived assets including amortizable intangible assets and property and equipment, the Group evaluates for impairment whenever events or changes (triggering events) indicate that the carrying amount of an asset may no longer be recoverable. The Group assesses the recoverability of the long-lived assets by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to receive from use of the assets and their eventual disposition. Such assets are considered to be impaired if the sum of the expected undiscounted cash flows is less than the carrying amount of the assets. The impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

(p)

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.

(q)

Annual test for impairment of goodwill

Goodwill assessment for impairment is performed on at least an annual basis on October 1 or whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. The Group performs a two-step goodwill impairment test. The first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit's goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for purposes of evaluating goodwill impairment and does not result in an entry to adjust the value of any assets or liabilities. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. The judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the fair value of each reporting unit.

No goodwill impairment losses were recognized for the years ended December 31, 2012, 2013 and 2014.

(r)

Operating leases

Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating lease are charged to the consolidated statements of operations on a straight-line basis over the period of the lease.

(s)

Convertible bonds

The Group determines the appropriate accounting treatment of its convertible bonds in accordance with the terms in relation to the conversion feature, call and put options, and beneficial conversion feature. After considering the impact of such features, the Group may account for such instrument as a liability in its entirety, or separate the instrument into debt and equity components following the respective guidance described under ASC 815 Derivatives and Hedging and ASC 470 Debt. The debt discount, if any, together with related issuance cost are subsequently amortized as interest expense, using the effective interest method, from the issuance date to the earliest conversion date.

(t)

Revenue recognition

The Group generates revenues from internet value-added services (“IVAS”) and online advertising. Revenues from IVAS are generated from online music and entertainment, online games, online dating, live game broadcasting, membership subscription fees and other IVAS. Online advertising revenues are primarily generated from sales of different forms of advertising on the Group's platform. Revenue is recognized when persuasive evidence of an arrangement exists, service has been rendered, the price is fixed or determinable and collection is reasonably assured. Revenue is deferred until these criteria are met as described below.

(i)

Internet value-added services

The Group operates a virtual currency system, under which, the users can directly purchase virtual currency, virtual items on YY Client's online community channels or pay membership subscription fees via online payment systems provided by third parties including payments using mobile phone, internet debit/credit card payment and other third party payment systems. The virtual currency can be converted into game tokens that can be used to purchase virtual items in online games (both developed by third parties and self-developed), or used directly to purchase virtual items on YY Client's online community channels or used to pay membership subscription fees. Virtual currency sold but not yet consumed by the purchasers is recorded as “Advances from customers” and upon conversion or being used, is recognized as revenue according to the respective prescribed revenue recognition policies addressed below:

(1) Online music and entertainment revenue

The Group creates and offers virtual items to be used by users on online music and entertainment channels, which the Group operates and maintains. The virtual items are offered free of charge or sold to users at different specified prices as pre-determined by the Company. Online music and entertainment revenue consists of sales of virtual items. Users purchase consumable virtual items from the Group and present them to performers to show support for their favorite performers or time-based virtual items, which provide users with recognized status, such as priority speaking rights or special symbols on the music channels for a specific period of time. In order to attract user traffic, the Group shares with certain popular performers and channel owners, who have entered into revenue sharing arrangements with the Group, a portion of the revenues the Group derives from such in-channel virtual item sales on online music and entertainment channels, which the Group accounts for as cost of revenues. Performers and channel owners, who do not have revenue sharing arrangements with the Group, are not entitled to share any revenue derived from the virtual items sold. The Group does not recognize any revenue from offering free virtual items nor share any revenue with performers or channel owners when free virtual items are presented to performers by the users. Accordingly, online music and entertainment revenue is recognized for the sale of virtual items sold in online music and entertainment channels immediately if the virtual item is a consumable or, in the case of time-based virtual items, recognized ratably over the period each virtual item is made available to the user, which does not exceed one year. The Group does not have further obligations to the user after the virtual items are consumed. Virtual items may be sold individually or bundled into one arrangement. When the Group's users purchase multiple virtual items bundled within the same arrangement, the Group evaluates such arrangements under ASC 605-25 Multiple-Element Arrangements. The Group identifies individual elements under the arrangement and determines if such elements meet the criteria to be accounted for as separate units of accounting. The Group allocates the arrangement consideration to the separate units of accounting based on their relative selling price.

The following hierarchy has been followed when determining the relative selling price for each element: (1) vendor specific objective evidence (“VSOE”), (2) third party evidence (“TPE”), and (3) best estimate of selling price (“BESP”). Given that the VSOE of the selling price cannot be determined, the Group has adopted a policy to allocate the consideration of the whole arrangement to different virtual item elements based on the TPE of selling price or the BESP for each virtual item element. The Group determines the fair values of virtual items sold in a bundle based on similar products sold separately on the YY platform based on the TPE of the selling price and determines the fair values of virtual items without similar products sold separately on the YY platform based on the BESP. The BESP is generally based on the selling prices of the various elements of a similar nature when they are sold to users on a stand-alone basis. The BESP may also be based on an estimated stand-alone pricing when the element has not previously been sold on a stand-alone basis.

These estimates are generally determined based on pricing strategies, market factors and strategic objectives. The Group recognizes revenue for each virtual item element in accordance with the applicable revenue recognition method.

(2) Online games revenue

The Group generates revenues from offering virtual items in online games developed by third parties or the Group itself to gaming players. Historically, the majority of online games revenues for the three years ended December 31, 2012, 2013 and 2014 were derived from third parties developed games.

Users play games through the Group's platform free of charge and are charged for purchases of virtual items including consumable and perpetual items, which can be utilized in the online games to enhance their game-playing experience. Consumable items represent virtual items that can be consumed by a specific user within a specified period of time. Perpetual items represent virtual items that are accessible to the users' account over the life of the online games.

The Group recognizes revenue when recognition criteria defined under US GAAP are satisfied. For purposes of determining when the service has been provided to the paying player, the Group has determined that an implied obligation exists to the paying player to continue providing access to the games such that the users can utilize the virtual items purchased by game tokens. Game players need to log on and access the games through the Group's platform because their game tokens, virtual items, and game history are specific to the Group's game accounts and non-transferable to other platforms. To purchase in-game virtual items, players can either charge their game accounts by purchasing game tokens or virtual currency from the Group's platform, which are convertible into game tokens based on a predetermined exchange rate agreed among the Group and the relevant game developers.

The proceeds from the purchase of the Group's virtual currency is recorded as “advances from customers”, representing prepayments received from users in the form of the Group's virtual currency not yet converted into game specific tokens. Upon the conversion into a game token from the Group's virtual currency or upon the direct purchase of a game token, whichever is applicable, the proceeds will be shared between the Group and the relevant game developer based on a predetermined contractual ratio. Game tokens are non-refundable and non-exchangeable among different games. The Group's portion, net of the game developer's entitled consideration, is recorded as deferred revenue and amortized according to the prescribed revenue recognition policies described below. Users typically do not convert the virtual currency into game tokens or purchase the game tokens unless they plan to purchase in-game virtual items soon.

There are two types of third party developed online games:

- Non-exclusive third party developed games
- Exclusive third party developed games

Under the non-exclusive arrangement, game developers license the games to various platforms and the Group is only one of the platforms. Game developers will receive only revenue shared from the Group pursuant to the mutually agreed sharing percentage.

Under the exclusive arrangement, game developers only license the game to the Group as the exclusive licensee. The Group, as the exclusive licensee, can sub-license the games to other platforms. In addition to the revenue shared to the game developers, the Group should also pay an exclusive license fee to the game developers.

- Non-exclusive third party developed games

Pursuant to contracts signed between the Group and the respective game developers, revenues from the sale or conversion of game tokens to be used for the purchase of in-game virtual items from online games developed by third parties are shared between the Group and the game developers based on a pre-agreed ratio for each game. These revenue-sharing contracts typically last one to two years.

The third party developed games under non-exclusive licensing contracts are maintained and updated by the game developers. The Group views the game developers to be the Group's customers and considers the Group's responsibilities under the Group's agreements with the game developers to offer certain standard promotions that include providing access to the platform, announcing the new games to users on the platform, and occasional advertising on the YY platform. The determination of whether to record these revenues using gross or net method is based on an assessment of various factors. The primary factors are whether the Group is acting as the principal in offering services to the game players or as agent in the transaction, and the specific requirement of each contract. The Group determined that for third party developed games, the third party game developers are the principal given the game developers design and develop the web-game services offered, have reasonable latitude to establish prices of game tokens, and are responsible for maintaining and upgrading the game contents and virtual items. Accordingly, the Group records online games revenue, net of the pre-agreed portion of sharing of the revenues with the game developers.

Given that third party developed games under non-exclusive licensing contracts are managed and administered by the third party game developers, the Group does not have access to the data on the consumption details such as when the game token is spent on the virtual items or the types of virtual items (consumable or perpetual items) purchased by each individual game player. However, the Group maintains historical data on timing of the conversion of its virtual currency into game specific tokens and the amount of purchases of game tokens. The Group believes that its performance for, and obligation to, the game developers correspond to the game developers' services to the users. The Group has adopted a policy to recognize revenues relating to game tokens for third party developed games over the estimated user relationship with the Group on a game-by-game basis, which is approximately one to six months for the periods presented. Future usage patterns may differ from historical usage patterns and therefore the estimated user relationship with the Group may change in the future.

When the Group launches a new game, it estimates the user relationship based on other similar types of games in the market until the new game establishes its own history. The Group considers the game's profile, attributes, target audience, and its appeal to players of different demographics groups in estimating the user relationship period.

The estimated user relationship period is based on data collected from those users who have acquired game tokens. To estimate the user relationship period, the Group maintains a software system that captures the following information for each user: (a) the frequency that users log into each game via the Group's platform, and (b) the amount and the timing of when the users convert or charge his or her game tokens. The Group estimates the user relationship period for a particular game to be the date a player purchases or converts from virtual currency to a game token through the date the Group estimates the user plays the game for the last time. This computation is completed on a user by user basis. Then, the results for all analyzed users are averaged to determine an estimated end user relationship period for each game. Revenues from in-game payments of each month are recognized over the user relationship period estimated for that game.

The consideration of user relationship with each online game is based on the Group's best estimate that takes into account all known and relevant information at the time of assessment. The Group assesses the estimated user relationships on a quarterly basis. Any adjustments arising from changes in the user relationship as a result of new information will be accounted as a change in accounting estimate in accordance with ASC 250 Accounting Changes and Error Corrections.

- Exclusive third party developed games

Under certain exclusive arrangements, the Group pays additional license fees to the game developers as the Group is entitled to an exclusive right to operate third party developed games in specified geographic areas. Based on ASC 350-30-35-6, the Group has adopted an accounting policy to recognize the exclusive license fee as an intangible asset upon the commercial launch of the related online games. This intangible asset is amortized on a straight-line basis over the shorter of the economic life or license period of the relevant online game.

Pursuant to the exclusive licensing contracts signed between the Group and the third party game developers, the Group's responsibilities in operating the licensed games vary game-by-game. The determination of whether to record these revenues using gross or net method is based on an assessment of various factors, including but not limited to whether the Group (i) is the primary obligor in the arrangement; (ii) has latitude in establishing the selling price; (iii) changes the product or performs part of the service, (iv) has involvement in the determination of product and service specifications.

For the game license arrangements under which the Group takes primary responsibilities of game operation, including determining distribution and payment channels, providing customer services, hosting game servers, if needed, and controlling game and services specifications and pricing, the Group considered itself to be the principal in these arrangements. Accordingly, the Group records online games revenues from these third party licensed games on a gross basis. Commission fees paid to distribution channels and payment channels and content fees paid to third party game developers are recorded as cost of revenues.

For the game license arrangements under which the Group's responsibilities are limited to publishing, providing payment solutions and game operating advice, the Group views the game developers to be its customers and considers itself to be the agent in the arrangements. Accordingly, the Group records online games revenues from these third party licensed games, net of fees paid to third parties upon the provision of service.

Pursuant to the terms and conditions of certain online game exclusive license agreement entered into between game developers and the Group, the Group, as the exclusive licensee, could sublicense a non-exclusive, non-transferable and limited license to any third party without the prior formal consent of game developers. Under the non-exclusive and non-transferable limited license, the sub-licensee cannot further license the game to other platforms. The Group received monthly revenue-based royalty payments from all sub-licensees. The Group views the third-party licensee operators as its customers and recognizes revenues on a net basis, as the Group does not have the primary responsibility for fulfillment and acceptability of the game services.

Similar to other online games, the exclusive third party developed games are free to play and players can pay for virtual items for better in-game experience. For exclusive third party games, the consumption details can be provided by third party developers or the Group has access to such data. Therefore, the Group recognizes revenues based on item-based model: (1) for consumable items, the revenue is recognized immediately upon consumption; (2) for perpetual items, the revenue is recognized ratably over the user relationship period of a specific game as described. The determination of user relationship period is the same as what is described in “Non-exclusive third party developed games” above.

- Self-developed games

Revenues derived from self-developed games are recorded on a gross basis as the Group acts as a principal to fulfill all obligations. Considering that revenues derived from self-developed games were immaterial to the Group for the years presented, the Group does not maintain information on consumption details of in-game virtual items, and only maintains limited information related to the frequency of log-ons for its self-developed games. Given that certain historical data is not available, the Group uses the user relationship of third party games with similar popularity, gaming experience and sales to determine the estimated period of user relationship for its self-developed games.

(3) Other IVAS revenue

Other IVAS revenue mainly represents membership subscription revenue, revenue from sales of virtual items in various channels in YY platform, such as online dating and live game broadcasting channels etc. and other miscellaneous sales in YY platform.

The Group operates a membership subscription program where subscription members can have enhanced user privileges when using YY Client. The membership fee is collected up-front from subscribers. The receipt of the revenue is initially recorded as deferred revenue and revenue is recognized ratably over the period of the subscription as services are rendered. Unrecognized portion beyond 12 months from balance sheet date is classified as long-term deferred revenue. Revenue from sales of virtual items in various channels, including online dating and live game broadcasting, is recognized on item basis, which is consistent with the revenue recognition policies for online music and entertainment revenue stream.

Advertising revenues are derived principally from advertising arrangements where the advertisers pay to place their advertisements on the Group's platform in different formats over a particular period of time. Such formats generally include but are not limited to banners, text-links, videos, logos, and buttons. Advertisements on the Group's platform are generally charged on the basis of duration, and advertising contracts are signed to establish the fixed price and the advertising services to be provided. Where collectability is reasonably assured, advertising revenues from advertising contracts are recognized ratably over the contract period of display.

The Group enters into advertising contracts directly with advertisers or third party advertising agencies that represent advertisers. Contract terms generally range from 1 to 3 months. Both third party advertising agencies and direct advertisers are generally billed at the end of the display period and payments are due usually within 6 months.

Where customers purchase multiple advertising spaces with different display periods in the same contract, the Group allocates the total consideration to the various advertising elements based on the relative selling price method and recognizes revenue for the different elements over their respective display periods. The following hierarchy should be followed when determining the appropriate selling price for each element: (1) vendor specific objective evidence (“VSOE”), (2) third party evidence (“TPE”), and (3) best estimate of selling price (“BESP”). Given that the VSOE or TPE of the selling price cannot be determined, the Group has adopted a policy to allocate the fair values of different advertising elements based on the best estimate selling prices of each advertisement within the contract taking into consideration the standard price list and historical discounts granted. The Group recognizes revenue on the elements delivered and defers the recognition of revenue for the fair value of the undelivered elements until the remaining obligations have been satisfied. Where all of the elements within an arrangement are delivered uniformly over the agreement period, the revenues are recognized on a straight line basis over the contract period.

Transactions with third party advertising agencies

For contracts entered into with third party advertising agencies, the third party advertising agencies will in turn sell the advertising services to advertisers. Revenue is recognized ratably over the contract period of display based on the following criteria:

•

There is persuasive evidence that an arrangement exists—the Group will enter into framework and execution agreements with the advertising agencies, specifying price, advertising content, format and timing

•

Price is fixed or determinable—price charged to the advertising agencies are specified in the agreements, including relevant discount and rebate rates

•

Services are rendered—the Group recognizes revenue ratably as the element are delivered over the contract period of display

•

Collectability is reasonably assured—the Group assesses credit history of each advertising agency before entering into any framework and execution agreements. If the collectability from the agencies is assessed as not reasonably assured, the Group recognizes revenue only when the cash is received and all the other revenue criteria are met.

The Group provides sales incentives in the forms of discounts and rebates to third party advertising agencies based on purchase volume. As the advertising agencies are viewed as the customers in these transactions, revenue is recognized based on the price charged to the agencies, net of sales incentives provided to the agencies. Sales incentives are estimated and recorded at the time of revenue recognition based on the contracted rebate rates and estimated sales volume based on historical experience.

Transactions with advertisers

The Group also enters into advertisement contracts directly with advertisers. Similar to transactions with third party advertising agencies, the Group recognizes revenue ratably as the elements are delivered over the contract period of display. The terms and conditions, including price, are fixed according to the contract between the Group and the advertisers. The Group also performs a credit assessment of all advertisers prior to entering into contracts. Revenue is recognized based on the amount charged to the advertisers, net of discounts.

(u)

Advances from customers and deferred revenue

Advances from customers primarily consist of (i) prepayments from users in the form of the Group's virtual currency that are not yet consumed or converted into game tokens, and upon the consumption or conversion, are recognized as revenue according to the prescribed revenue recognition policies described above, (ii) prepayments from sub-licensees for obtaining operation rights of certain online games over a period of time, and (iii) prepayments from advertising agencies and advertisers.

Deferred revenue primarily consists of the unamortized game tokens, prepaid subscriptions under the membership program and unamortized revenue from virtual items in various channels in YY platform, where there is still an implied obligation to be provided by the Group, which will be recognized as revenue when all of the revenue recognition criteria are met.

(v)

Cost of revenues

Amounts recorded as cost of revenue relate to direct expenses incurred in order to generate IVAS and advertising revenue. Such costs are recorded as incurred. Cost of revenues consists primarily of (i) revenue sharing fees and content costs, including payments to various channel owners and performers, and content providers, (ii) bandwidth costs, (iii) salary and welfare, (iv) depreciation and amortization expense for servers, other equipment and intangibles directly related to operating the platform, (v) payment handling cost, (vi) business taxes and related surcharges, cultural development fee, (vii) share-based compensation, and (viii) other costs.

In the PRC, business taxes are imposed by the government on revenues reported by any selling entity for the provision of taxable services in the PRC. The business tax rate varies depending on the nature of the revenues. The Group is also subject to cultural development fee at a tax rate of 3% on service income from provision of advertising services in the PRC.

On January 1, 2012, a pilot program (the “Pilot Program”) was launched in Shanghai for a transition of imposing value-added tax (“VAT”) on revenues derived from certain pilot industries (the “Pilot Industries”) other than business taxes. Starting from September 1, 2012, the Pilot Program was expanded from Shanghai to eight other cities and provinces in the PRC, including Beijing and Guangdong province, where the Group's subsidiaries and VIEs are incorporated and have operations therein. The Group's advertising revenue, online games revenue and other IVAS revenue are within the scope of Pilot Industries and they became subject to VAT effective from November 1, 2012, December 1, 2012 and June 1, 2014, at a rate of 6% respectively. The Group hence recognizes advertising revenue and IVAS revenue net of VAT thereafter. Prior to the Pilot Program's being applied to Group's revenue, the Group's advertising revenues earned from external customers were subject to business taxes at 5% for the ten months ended December 31, 2012, and the Group' IVAS revenue earned from external customers were subject to business taxes of 3% for the years ended December 31, 2012, 2013 and for the first five months of 2014, except that the Group's online games revenue began to be subject to VAT of 6% commencing December 2012.

The Group is subject to surcharges of business taxes and VAT, which are calculated based on 12% of the business taxes and VAT payable for the years ended December 31, 2012, 2013 and 2014.

The Group reported business taxes and surcharges, and cultural development fees in cost of revenues.

Based on the Group's corporate structure and the contractual arrangements among the Group's PRC subsidiaries, the Group's VIEs and their shareholders, the Group is effectively subject to 6% or 17% VAT and related surcharges on revenues generated by the Group's subsidiaries based on the Group's contractual arrangements entered into with the Group's VIEs.

(w)

Research and development expenses

Research and development expenses consist primarily of (i) salary and welfare for research and development personnel, (ii) share-based compensation for research and development personnel, (iii) rental expenses and (iv) depreciation of office premise and servers utilized by research and development personnel. Costs incurred during the research stage are expensed as incurred. Costs incurred in the development stage, prior to the establishment of technological feasibility, which is when a working model is available, are expensed when incurred.

The Company recognizes internal use software development costs in accordance with guidance on intangible assets and internal use software. This requires capitalization of qualifying costs incurred during the software's application development stage and to expense costs as they are incurred during the preliminary project and post implementation/operation stages. The Company has not capitalized any costs related to internal use software during the years ended December 31, 2012, 2013 and 2014, respectively.

(x)

Sales and marketing expenses

Sales and marketing expenses consist primarily of (i) advertising and market promotion expenses, (ii) salary and welfare for sales and marketing personnel, and (iii) share-based compensation for sales and marketing personnel. The advertising and market promotion expenses amounted to approximately RMB5,534, RMB8,054 and RMB76,192 during the years ended December 31, 2012, 2013 and 2014, respectively.

(y)

General and administrative expenses

General and administrative expenses consist primarily of (i) salary and welfare for general and administrative personnel, (ii) share-based compensation for management and administrative personnel, (iii) allowance for doubtful receivables, and (iv) professional service fees.

(z)

Employee social security and welfare benefits

Employees of the Group in the PRC are entitled to staff welfare benefits including pension, work-related injury benefits, maternity insurance, medical insurance, unemployment benefit and housing fund plans through a PRC government-mandated multi-employer defined contribution plan. The Group is required to accrue for these benefits based on certain percentages of the employees' salaries, up to a maximum amount specified by the local government. The Group is required to make contributions to the plans out of the amounts accrued. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group's obligations are limited to the amounts contributed and no legal obligation beyond the contributions made. Employee social security and welfare benefits included as expenses in the accompanying statements of operations amounted to RMB39,660, RMB68,334 and RMB115,012 for the years ended December 31, 2012, 2013 and 2014, respectively.

(aa)

Share-based compensation

The Company grants stock-based award, such as, but not limited to, share options, restricted shares, restricted share units and warrants to eligible employees, officers, directors, and non-employee consultants.

Awards granted to employees, officers, and directors are initially accounted for as equity-classified awards. The related shared-based compensation expenses are measured at the grant date fair value of the award and are recognized using the graded vesting method, net of estimated forfeiture rates, over the requisite service period, which is generally the vesting period. Forfeitures are estimated at the time of grant based on historical forfeiture rates and will be revised in the subsequent periods if actual forfeitures differ from those estimates. Duowan BVI also granted share options, restricted shares and restricted share units to non-employees, which are also initially accounted for as equity-classified awards. Awards granted to non-employees are initially measured at fair value on the grant date and periodically re-measured thereafter until the earlier of the performance commitment date or the date the service is completed and recognized over the period the service is provided. Awards are re-measured at each reporting date using the fair value as at each period end until the measurement date, generally when the services are completed and share-based awards are vested. Changes in fair value between the interim reporting dates are recorded in consistent with the method used in recognizing the original compensation costs.

Following the listing of the Company, the grant date fair value of share-based awards is based on stock price of the Company in the NASDAQ Global Market.

(bb)

Other income

Other income primarily consists of government grants which represent cash subsidies received from the PRC government by the operating subsidiaries or VIEs of the Company. Government grants are originally recorded as deferred revenue when received upfront. After all of the conditions specified in the grants have been met, the grants are recognized as operating or non-operating income based on the nature of the government grants.

(cc)

Income taxes

Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are accounted for using an asset and liability method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purpose. The effect on deferred taxes of a change in tax rates is recognized in statement of operations and comprehensive income in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized.

Uncertain tax positions

The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance was also provided on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group's uncertain tax positions and determining its provision for income taxes. The Group recognizes interests and penalties, if any, under accrued expenses and other current liabilities on its balance sheet and under other expenses in its statements of operations. The Group did not recognize any significant interest and penalties associated with uncertain tax positions for the years ended December 31, 2012, 2013 and 2014. As of December 31, 2013 and 2014, the Group did not have any significant unrecognized uncertain tax positions.

(dd)

Statutory reserves

The Group's subsidiaries, VIEs and VIE's subsidiaries established in the PRC are required to make appropriations to certain non-distributable reserve funds.

In accordance with the laws applicable to China's Foreign Investment Enterprises, the Group's subsidiaries registered as wholly-owned foreign enterprises have to make appropriations from its after-tax profit (as determined under the Accounting Standards for Business Enterprises as promulgated by the Ministry of Finance of the People's Republic of China (“PRC GAAP”)) to reserve funds including general reserve fund, and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the after-tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the company. Appropriation to the staff bonus and welfare fund is at the company's discretion.

In addition, in accordance with the Company Laws of the PRC, the VIEs and VIE's subsidiaries of the Company registered as PRC domestic companies must make appropriations from its after-tax profit as determined under the PRC GAAP to non-distributable reserve funds including a statutory surplus fund and a discretionary surplus fund. The appropriation to the statutory surplus fund must be at least 10% of the after-tax profits as determined under the PRC GAAP. Appropriation is not required if the surplus fund has reached 50% of the registered capital of the company. Appropriation to the discretionary surplus fund is made at the discretion of the company.

The use of the general reserve fund, statutory surplus fund and discretionary surplus fund are restricted to the off-setting of losses or increasing capital of the respective company. The staff bonus and welfare fund is a liability in nature and is restricted to fund payments of special bonus to staff and for the collective welfare of employees. All these reserves are not allowed to be transferred to the company in terms of cash dividends, loans or advances, nor can they be distributed except under liquidation.

During the year ended December 31, 2013 and 2014, appropriations to statutory reserves amounted to RMB40,657 and RMB15,812, respectively. No appropriations have been made in 2012 since the companies were in accumulated loss positions.

(ee)

Related parties

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.

(ff)

Dividends

Dividends are recognized when declared. No dividends were declared for the years ended December 31, 2012, 2013 and 2014, respectively. The Group does not have any present plan to pay any dividends on common shares in the foreseeable future. The Group currently intends to retain the available funds and any future earnings to operate and expand its business.

(gg)

Income per share

Basic income per share is computed by dividing net income attributable to common shareholders, considering the accretion or decretion of redemption feature, deemed dividend to preferred shareholders and amortization of beneficial conversion feature related to its convertible redeemable preferred shares (Note 24), by the weighted average number of common shares outstanding during the period using the two-class method. Under the two-class method, net income is allocated between common shares and other participating securities based on their participating rights. Net losses are not allocated to other participating securities if based on their contractual terms they are not obligated to share the losses.

Diluted income per share is calculated by dividing net income attributable to common shareholders, as adjusted for the effect of dilutive common equivalent shares, if any, by the weighted average number of common and dilutive common equivalent shares outstanding during the period. Common equivalent shares consist of common shares issuable upon the conversion of the preferred shares and convertible bonds, using the if-converted method, and shares issuable upon the exercise of share options using the treasury stock method. Common equivalent shares are not included in the denominator of the diluted loss per share calculation when inclusion of such share would be anti-dilutive.

(hh)

Comprehensive income

Comprehensive income is defined as the change in equity of the Company during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Comprehensive income is reported in the consolidated statements of operations and comprehensive income. Accumulated other comprehensive loss of the Group includes the foreign currency translation adjustments.

(ii)

Segment reporting

Operating segments are defined as components of an enterprise engaging in businesses activities for which separate financial information is available that is regularly evaluated by the Group's chief operating decision makers in deciding how to allocate resources and assess performance. The Group's chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. The Group has internal reporting of cost and expenses that does not distinguish between segments, and reports costs and expenses by nature as a whole. The Group does not distinguish between markets or segments for the purpose of internal reporting. Hence, the Group has only one operating segment. As the Group's long-lived assets and revenue are substantially located in and derived from the PRC, no geographical segments are presented.

(jj)

Recently issued accounting pronouncements

In April 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity” (“ASU 2014-08”). The new guidance changes the criteria for reporting discontinued operations while enhancing disclosures in this area. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization's operations and financial results. Additionally, ASU 2014-08 requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. ASU 2014-08 is effective for the Company in the first quarter of fiscal 2015. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 will eliminate transaction-specific and industry-specific revenue recognition guidance under current U.S. GAAP and replace it with a principle-based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. Entities can transition to the standard either retrospectively or as a cumulative effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

In June 2014, under ASC 718, Compensation — Stock Compensation, the FASB issued Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. These amendments apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. That is the case when an employee is eligible to retire or otherwise terminate employment before the end of the period in which a performance target could be achieved and still be eligible to vest in the award if and when the performance target is achieved. For all entities, the amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern” (“ASU 2014-15”). Pursuant to ASU 2014-15, in connection with preparing financial statements for each annual and interim reporting period, an entity's management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”). ASU 2015-02 focuses on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. The ASU simplifies consolidation accounting by reducing the number of consolidation models from four to two. In addition, the new standard simplifies the FASB Accounting Standards Codification and improves current guidance by: (i) placing more emphasis on risk of loss when determining a controlling financial interest; (ii) reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE; and (iii) changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs. The ASU will be effective for periods beginning after December 15, 2015, for public companies. For private companies and not-for-profit organizations, the ASU will be effective for annual periods beginning after December 15, 2016; and for interim periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30)” (“ASU 2015-03”). To simplify presentation of debt issuance costs, ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. The recognition and measurement guidance for debt issuance costs would not be affected by the amendments in ASU 2015-03. For public business entities, ASU 2015-03 will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Certain risks and concentration

12 Months Ended

Dec. 31, 2014

Certain risks and concentration [Abstract]

Certain risks and concentration

3.	Certain risks and concentration

(a)

PRC regulations

Foreign ownership of internet-based businesses is subject to significant restrictions under the current PRC laws and regulations. The PRC government regulates internet access, the distribution of online information and the conduct of online commerce through strict business licensing requirements and other government regulations. These laws and regulations also limit foreign ownership in PRC companies that provide internet information distribution services. Specifically, foreign ownership in an internet information provider or other value-added telecommunication service providers may not exceed 50%. Foreigners or foreign invested enterprises are currently not able to apply for the required licenses for operating online games in the PRC. The Company is incorporated in the Cayman Islands and accordingly, the Company is considered as a foreign invested enterprise under PRC law.

In order to comply with the PRC laws restricting foreign ownership in the online business in China, the Group operates the online business in China through contractual arrangements with Guangzhou Huaduo and Beijing Tuda, the Group's two VIEs. As of December 31, 2014, Mr. David Xueling Li, CEO, Mr. Jun Lei, Chairman of the Company, Mr. Tony Bin Zhao, Director and Chairman of Technology Committee, Mr. Jin Cao, Executive Vice President, and Beijing Tuda own approximately 0.5%, 0.44%, 0.04%, 0.02% and 99% of Guangzhou Huaduo's equity interests, respectively. As of December 31, 2014, Mr. David Xueling Li, Mr. Tony Bin Zhao, and Mr. Jin Cao, own 97.7%, 1.5% and 0.8% of Beijing Tuda's equity interests, respectively.

The VIEs hold the licenses and permits necessary to conduct its internet value-added services and online advertising in the PRC. If the Company had direct ownership of the VIEs, it would be able to exercise its rights as a shareholder to effect changes in the board of directors, which in turn could affect changes at the management level, subject to any applicable fiduciary obligations. However, under the current contractual arrangements, it relies on the VIEs and its' shareholders' performance of their contractual obligations to exercise effective control. In addition, the Group's contractual agreements have terms range from 10 to 30 years, which are subject to Beijing Huanju Shidai's unilateral termination right. Under the respective service agreements, Beijing Huanju Shidai will provide services including technology support, technology services, business support and consulting services to Beijing Tuda and Guangzhou Huaduo in exchange for service fees. The amount of service fees payable is determined by various factors, including (a) a percentage of Beijing Tuda and Guangzhou Huaduo's revenues or earnings, and (b) the expenses that Beijing Huanju Shidai incurs for providing such services. Beijing Huanju Shidai may charge up to 100% of the income in Beijing Tuda and Guangzhou Huaduo and a multiple of the expenses incurred for providing such services, as determined by Beijing Huanju Shidai from time to time. The service fees payable by Beijing Tuda and Guangzhou Huaduo to Beijing Huanju Shidai are determined to be up to 100% of the profits of Beijing Tuda and Guangzhou Huaduo, with the timing of such payment to be determined at the sole discretion of Beijing Huanju Shidai. If fees were incurred, it would be significant to the Company and the operating companies' economic performance because it will be incurred and paid at up to 100% of the earnings of the VIEs. Fees incurred would be remitted, subject to further PRC restrictions. None of the VIEs or their shareholders are entitled to terminate the contracts prior to the expiration date, unless under remote circumstances such as a material breach of agreement or bankruptcy as it pertains to the service and business operation agreements and their amendment. For the years ended December 31, 2012, no service fees were charged by WOFEs to VIEs as both VIEs had accumulated losses since inception. For the year ended December 31, 2013 and 2014, Guangzhou Huanju Shidai and Beijing Huanju Shidai determined that service fees of RMB31,153 and RMB363,117 were charged to Guangzhou Huaduo. The service fees are typically determined based on the costs and expenses that WOFEs incurs for providing relevant technology support to Guangzhou Huaduo, as well as the consideration of Guangzhou Huaduo's future business development plan and its increasingly growing and diverse operational needs.

Further, the Group believes that the contractual arrangements among Beijing Huanju Shidai, the VIEs, and their shareholders are in compliance with PRC law and are legally enforceable. However, the PRC government may issue from time to time new laws or new interpretations on existing laws to regulate this industry. Regulatory risk also encompasses the interpretation by the tax authorities of current tax laws, and the Group's legal structure and scope of operations in the PRC, which could be subject to further restrictions resulting in limitations on the Company's ability to conduct business in the PRC. The PRC government may also require the Group to restructure the Group's operations entirely if it finds that its contractual arrangements do not comply with applicable laws and regulations. Furthermore, it could revoke the Group's business and operating licenses, require it to discontinue or restrict its operations, restrict its right to collect revenues, block its website, require it to restructure its operations, impose additional conditions or requirements with which the Group may not be able to comply, or take other regulatory or enforcement actions against the Group that could be harmful to its business. The imposition of any of these penalties may result in a material and adverse effect on the Group's ability to conduct the Group's business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIEs or the right to receive their economic benefits, the Group would no longer be able to consolidate the VIEs and VIE's subsidiaries. The Group does not believe that any penalties imposed or actions taken by the PRC government would result in the liquidation of the Company, Beijing Huanju Shidai, and the VIEs.

On January 19, 2015, the Ministry of Commerce of the PRC, or (the “MOFCOM”) released on its Website for public comment a proposed PRC law (the “Draft FIE Law”) that appears to include VIEs within the scope of entities that could be considered to be foreign invested enterprises (or “FIEs”) that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of “actual control.” If the Draft FIE Law is passed by the People's Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to reach the Group's VIE arrangements, and as a result the Group's VIEs could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of foreign invested enterprises entities where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The Draft FIE Law does not make clear how “control” would be determined for such purpose, and is silent as to what type of enforcement action might be taken against existing VIEs that operate in restricted industries and are not controlled by entities organized under PRC law or individuals who are PRC citizens. If a finding were made by PRC authorities under the Draft FIE Law if it becomes effective, that the Group's operation of certain of its operations and businesses through VIEs violates the Draft FIE Law, regulatory authorities with jurisdiction over the licensing and operation of such operations and businesses may require the Group to take various actions as discussed in the paragraph above. The Group's management considers the possibility of such a finding by PRC regulatory authorities under the Draft VIE law, if it becomes effective, to be remote.

The following consolidated financial information of the Group's VIEs and VIE's subsidiaries excluding the intercompany items with the Group's subsidiaries was included in the accompanying consolidated financial statements as of and for the years ended:

	December 31,
	2013		2014
	RMB		RMB
Assets
Current assets
Cash and cash equivalents		575,262		305,405
Short-term deposits		594,000		1,002,020
Restricted short-term deposits		-		100,000
Accounts receivable, net		48,329		243,529
Inventory		-		1,445
Amount due from related parties		73		43,816
Prepayments and other current assets		29,753		113,939
Deferred tax assets		51,631		85,004
Total current assets		1,299,048		1,895,158

Non-current assets
Deferred tax assets		383		1,392
Investments		33,920		63,220
Property and equipment, net		100,059		227,372
Intangible assets, net		9,717		133,888
Goodwill		-		298,802
Other non-current assets		-		31,520
Total non-current assets		144,079		756,194

Total assets		1,443,127		2,651,352

	December 31,
	2013		2014
	RMB		RMB

Liabilities
Current liabilities
Accounts payable		55,818		101,160
Deferred revenue		292,380		354,987
Advances from customers		10,656		25,897
Income taxes payable		47,974		65,162
Accrued liabilities and other current liabilities		197,851		357,464
Amounts due to related parties		2,640		30,892

Total current liabilities		607,319		935,562

Non-current liabilities
Long-term payable		-		183,000
Deferred revenue		8,457		24,383
Deferred tax liabilities		-		26,709

Total non-current liabilities		8,457		234,092

Total liabilities		615,776		1,169,654

	For the year ended December 31,
	2012		2013		2014
	RMB		RMB		RMB

Net revenues		702,929		1,669,852		3,543,994
Net income		80,071		486,095		1,136,570

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

Net cash provided by operating activities		322,378			845,198			1,313,521
Net cash used in investing activities		(152,197	)		(592,390	)		(994,574	)
		170,181			252,808			318,947

(b)

Foreign exchange risk

The revenues and expenses of the Group's subsidiaries, VIEs and VIE's subsidiaries in the PRC are generally denominated in RMB and their assets and liabilities are denominated in RMB. The Group's financing activities are denominated in U.S. dollars. The RMB is not freely convertible into foreign currencies. Remittances of foreign currencies into the PRC and exchange of foreign currencies into RMB require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of RMB into other currencies.

(c)

Concentration risk

(i)

Concentration of revenue

No individual customer accounted for more than 10% of net revenues for the years ended December 31, 2012, 2013 and 2014.

(ii)

Concentration of accounts receivable

The Group collects accounts receivable for IVAS revenue from collection agencies, online games revenue sharing from sub-licensed platforms, and online advertising revenue from customers. The Group depends on payments from a limited number of collection agencies and advertising customers. The top 10 accounts receivable accounted for 87% and 83% of the total accounts receivable as of December 31, 2013 and 2014, respectively. The following table summarizes the percentage of accounts receivable from collection agencies and advertising customers with over 10% of total accounts receivable:

	December 31,
		2013			2014
		RMB			RMB
Collection agencies and advertising customers
B1			*			57	%
B2			11	%		*
B3			25	%		*
B4			12	%		*

*	Less than 10%

(d)

Credit risk

As of December 31, 2013 and 2014, substantially all of the Group's cash and cash equivalents and short-term deposits were placed with the PRC and international financial institutions. Management chooses these institutions because of their reputations and track records for stability, and their known large cash reserves, and management periodically reviews these institutions' reputations, track records, and reported reserves. Management expects that any additional institutions that the Group uses for its cash and bank deposits will be chosen with similar criteria for soundness. The balances in the PRC are not insured since it is not a market practice in the PRC. Nevertheless under the PRC law, it is required that a commercial bank in the PRC that holds third party cash deposits should maintain a certain percentage of total customer deposits taken in a statutory reserve fund for protecting the depositors' rights over their interests in deposited money. PRC banks are subject to a series of risk control regulatory standards; PRC bank regulatory authorities are empowered to take over the operation and management of any PRC bank that faces a material credit crisis. The Group believes that it is not exposed to unusual risks as these financial institutions are either PRC banks or international banks with high credit quality. The Group had not experienced any losses on its deposits of cash and cash equivalents and term deposits during the years ended December 31, 2012, 2013 and 2014 and believes that its credit risk to be minimal.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References+ Details

Business combination

12 Months Ended

Dec. 31, 2014

Business combination [Abstract]

Business combination

4.	Business combination

Acquisition of a majority of the assets of an internet service company

On March 12, 2012, the Group acquired a majority of the assets of an internet service company, which is in the business of operating an internet platform, for cash consideration of RMB11,722. As a result of the acquisition, the Group obtained the key intellectual property to develop and expand the platform of YY Client. The acquisition was recorded using the acquisition method of accounting and the allocation of the purchase price at the date of acquisition is as follows:

	RMB

Property and equipment		128
Intangible assets
- Technology		10,035
- Software		660
Goodwill		899

Total		11,722

The business combination was completed on March 12, 2012 and there was no further adjustment to the purchase price allocation. The excess of purchase price over tangible assets and identifiable intangible assets acquired and liabilities assumed was recorded as goodwill. The acquired goodwill is not deductible for tax purposes. Acquisition related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2012.

Pro forma results of operations related to the acquisition have not been presented because they are not material to the Group's consolidated statements of operations and comprehensive income.

Since the acquired business has been fully integrated into the Company's current business after the acquisition, it is impracticable to disclose separately its standalone revenue and earnings after the acquisition.

Acquisition of Zhengrenqiang and DuBooker

On December 2, 2014, the Group acquired 100% of the equity interests of Zhengrenqiang and DuBooker for a fixed cash consideration of RMB60 million, plus additional variable cash consideration that is contingent upon the achievement of pre-established performance metrics. Zhengrenqiang is primarily engaged in providing a variety of online English courses specialising in the preparation of International English Language Testing System ("IELTS") to registered students through online education platforms, and DuBooker is primarily engaged in the publishing of a variety of teaching materials relevant to language education. The purpose of the acquisition was to strengthen the Group's competitive advantages in China's online education business. On the acquisition date, the allocation of the consideration of the assets acquired and liabilities assumed based on their fair value was as follows:

	RMB

Cash consideration		60,000
Contingent consideration		183,000
Total consideration		243,000

Net assets acquired		1,882
Identifiable intangible assets acquired
- Brand names		42,000
- Others		18,300
Goodwill		195,893
Deferred tax liabilities		(15,075	)
Total		243,000

The agreements for the acquisition of Zhengrenqiang included a contingent consideration arrangement that required additional consideration to be paid by the Group based on the actual net profit of Zhengrenqiang for years 2015 through 2017 as compared to the pre-established performance metrics as stipulated in the agreements. The undiscounted amounts the Company shall pay when the net profit of Zhengrenqiang from 2015 through 2017 equals to 100% of the performance metrics is RMB240 million. The actual contingent payments would be adjusted based on the degree of how the actual net profit is higher or lower than the performance metrics from 2015 through 2017. The fair value of the contingent consideration recognized on the acquisition date of RMB183.0 million was determined by the Company using the trinomial model . Under this model, the Company performs a scenario analysis by assuming different scenarios under which Zhengrenqiang achieves different actual net profit for years 2015 through 2017. Under different scenarios, the amount of contingent consideration differs according to the stipulation in the agreements. The Company then calculated the fair value of the contingent consideration based on the net present value of the total contingent consideration under different scenarios and the expected probability of each scenario. Please refer to note 26 for the key parameters adopted in the valuation.

The business combination was completed on December 2, 2014. The excess of the purchase price over tangible assets, identifiable intangible assets acquired, and liabilities assumed was recorded as goodwill. The acquired identifiable intangible assets were valued by various approaches, including the income approach and the replacement cost approach, as appropriate. As of December 31, 2014, no measurement period adjustment had been recorded. Acquisition related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2014.

Pro forma results of operations related to the acquisition have not been presented because they are not material to the Group's consolidated statements of operations and comprehensive income.

As the acquisition date was close to year end, the standalone revenue and earnings after the acquisition date of Zhengrenqiang and Dubooker is not material to the Group's consolidated statements of operations and comprehensive income.

There were no indemnification assets involved. Total identifiable intangible assets acquired upon acquisition mainly included brand names, cooperation agreements, copyrights of teaching materials and non-compete agreements, which have an estimated useful life of nine, three, five and five years, respectively. Total goodwill of RMB195.9 million primarily represents the expected synergies from combining operations of Zhengrenqiang and Dubooker with those of the Group, which were expected to be complementary to each other. In accordance with ASC350, goodwill is not amortized but is tested for impairment and is not deductible for tax purposes.

Acquisition of Xingxue and Chuangzhi

On December 23, 2014, the Group acquired 100% of the equity interests of Xingxue and Chuangzhi for a fixed cash consideration of RMB128.1 million. The principal business of Xingxue and Chuangzhi is the operation of online vocational training platform. The purpose of the acquisition was to expand the Group's own educational service offerings from online English courses to a variety of online vocational training courses. On the acquisition date, the allocation of the consideration of the assets acquired and liabilities assumed based on their fair value was as follows:

	RMB

Net liabilities assumed		(8,549	)
Identifiable intangible assets acquired
- Brand names		43,620
- Other		4,792
Goodwill		100,382
Deferred tax liabilities		(12,103	)
Total		128,142

The business combination was completed on December 23, 2014. The excess of the purchase price over tangible assets, identifiable intangible assets acquired, and liabilities assumed was recorded as goodwill. The acquired identifiable intangible assets were valued by various approaches, including the income approach and the replacement cost approach, as appropriate. As of December 31, 2014, no measurement period adjustment had been recorded. Acquisition related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2014.

Pro forma results of operations related to the acquisition have not been presented because they are not material to the Group's consolidated statements of operations and comprehensive income.

As the acquisition date was close to year end, the standalone revenue and earnings after the acquisition date of Xingxue and Chuangzhi is not material to the Group's consolidated statements of operations and comprehensive income.

There were no indemnification assets involved. Total identifiable intangible assets acquired upon acquisition mainly included brand names, and software, which have an estimated useful life of fifteen and five years, respectively. Total goodwill of RMB100.4 million primarily represents the expected synergies from combining operations of Xingxue and Chuangzhi with those of the Group, which were expected to be complementary to each other. In accordance with ASC350, goodwill is not amortized but is tested for impairment and is not deductible for tax purposes.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4926-128472

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4934-128472

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

+ Details

Cash and cash equivalents

12 Months Ended

Dec. 31, 2014

Cash and cash equivalents [Abstract]

Cash and cash equivalents

5.	Cash and cash equivalents

Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions. Cash and cash equivalents balance as of December 31, 2013 and 2014 primarily consist of the following currencies:

	December 31, 2013				December 31, 2014
	Amount		RMB equivalent		Amount		RMB equivalent

RMB		715,316		715,316		394,214		394,214
US$		2,342		14,282		13,205		80,814

Total				729,598				475,028

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References+ Details

Accounts receivable, net

12 Months Ended

Dec. 31, 2014

Accounts receivable, net [Abstract]

Accounts receivable, net

8.	Accounts receivable, net

	December 31,
	2013			2014
	RMB			RMB

Accounts receivable, gross		131,315			314,778
Less: allowance for doubtful receivables		(31,214	)		(57,342	)

Accounts receivable, net		100,101			257,436

The following table summarized the details of the Company's allowance for doubtful accounts:

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

Balance at beginning of the year		-			(5,716	)		(31,214	)
Additions charged to general and administrative expenses		(6,884	)		(31,987	)		(26,246	)
Write-off during the year		1,168			6,489			118

Balance at end of the year		(5,716	)		(31,214	)		(57,342	)

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References+ Details

Investments

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Investments

10.

Investments

	December 31
	2013		2014
	RMB		RMB

Cost investments (i)(ii)(iii)(iv)(v)		47,110		153,024
Equity investments		14,919		33,630

Total		62,029		186,654

(i)

In June 2013, the Group made an investment with an equity interest of 20% in a company with consideration of RMB15 million. The investment was not an investment in common stock or in-substance common stock and therefore was precluded from applying the equity method of accounting. It has been accounted for as an investment under cost method.

(ii)

In 2013, the Group entered into agreements to acquire minority stake of preferred shares of two companies with total consideration of approximately RMB28 million. Given the fact that the Company cannot unilaterally demand redemption of both of the preferred stocks as the Group only owns less than or equal to 10% of the preferred stocks respectively, these investments have been accounted for as an investment in an equity security under cost method since both of the equity securities do not have a readily determinable fair value.

(iii)

In 2014, the Group entered into agreements to acquire minority stake of preferred shares of three companies with total consideration of approximately RMB59 million. Given the fact that the Company cannot unilaterally demand redemption of all of the preferred stocks as the Company only owns less than or equal to 10% of the preferred stocks respectively, these investments have been accounted for as an investment in an equity security under cost method since all of the equity securities do not have a readily determinable fair value.

(iv)

The Group has developed and launched a mobile application called Weihui in 2014. Users of this application can make telephone calls with other users free of charge. In October 2014, the Group entered into an agreement with its CEO to inject Weihui into Bigo Technology Pte Ltd.(“Bigo”), a company set up and controlled by the CEO. The Group and the CEO agreed that Weihui shall be priced at US$6 million (equivalent to RMB36,714). The board of directors of the Company has engaged two third party valuation firms in the evaluation of fair value of Weihui using both cost approach and market approach. In the opinion of the two third party valuation firms, the price of Weihui is fair and reasonable to the Group. As the cash contribution injected by the CEO and other investors into Bigo is US$15.6 million, the Group holds 27.78% and the CEO and other investors hold 72.22% of equity interests of Bigo, respectively. The shareholding percentage of the Group and the CEO and other investors are in proportionate to their capital injection. As part of the agreement, the Group is entitled to receive an amount equal to 100% of its original investment in the event of liquidation in preference to other common shareholders. As a result, the investment was not an investment in common stock or in-substance common stock and therefore was precluded from applying the equity method of accounting. It was accounted for the investment under the cost method.

Considering that the substance of this transaction was that the Group transferred a group of assets that constitute a business to Bigo in exchange for a non-controlling interest in Bigo and the Group accounted for its investment over Bigo using the cost method, the entire difference between the fair value and carrying value of the assets given up was recognised in other non-operating income. As the carrying amount of Weihui on the Group's accounting book was zero, the non-operating income being recognised is RMB 36,714.

(v)	In addition to the above, the Group also made several cost investments in 2014. Save as disclosed above, none of these investments are, individually or in aggregate, material to the Group's financial statements.

Property and equipment, net

12 Months Ended

Dec. 31, 2014

Property and equipment, net [Abstract]

Property and equipment, net

11.

Property and equipment, net

Property and equipment consists of the following:

	December 31,
	2013			2014
	RMB			RMB

Gross carrying amount
Servers, computers and equipment		152,404			304,117
Leasehold improvement		23,257			32,392
Furniture, fixture and office equipment		9,672			13,879
Motor vehicles		5,186			10,815
Construction in progress		4,652			31,786

Total		195,171			392,989
Less: accumulated depreciation		(92,535	)		(158,761	)

Property and equipment, net		102,636			234,228

Depreciation expense for the years ended December 31, 2012, 2013 and 2014 were RMB29,074, RMB44,963 and RMB 68,035, respectively.

- Definition

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

+ References+ Details

Intangible assets, net

12 Months Ended

Dec. 31, 2014

Intangible assets, net [Abstract]

Intangible assets, net

12.

Intangible assets, net

The following table summarizes the Group's intangible assets:

	December 31
	2013			2014
	RMB			RMB

Gross carrying amount
Software		5,477			17,304
Technology		17,121			17,145
Domain names		17,286			24,686
Brand names		-			94,120
Operating rights for licensed games		-			11,721
Others		-			18,300

Total of gross carrying amount		39,884			183,276

Less: accumulated amortization
Software		(3,209	)		(5,944	)
Technology		(4,054	)		(6,035	)
Domain names		(2,944	)		(4,278	)
Brand names		-			(1,728	)
Operating rights for licensed games		-			(4,249	)
Others		-			(774	)

Total accumulated amortization		(10,207	)		(23,008	)

Less: impairment
Software		(550	)		(6,234	)

Intangible assets, net		29,127			154,034

For the year ended December 31, 2014, the Group recognized impairment of intangible assets of RMB5,697, which was made against the carrying amount of the technology acquired in a business combination in 2012. The Group ceased to use this technology in its business in 2014 and believed the technology cannot bring future economic benefits to the Group. As a result, an impairment loss equal to the carrying amount of the technology was recognized.

Amortization expense for the years ended December 31, 2012, 2013 and 2014 were RMB3,369, RMB4,707 and RMB12,598, respectively.

The estimated amortization expenses for each of the following five years are as follows:

	Amortization expense
	of intangible assets

2015		31,190
2016		19,874
2017		17,105
2018		14,544
2019		12,844

The weighted average amortization periods of intangible assets as of December 31, 2013 and 2014 are as below:

	December 31,
	2013	2014

Domain names	15 years	15 years
Technology	5 years	5 years
Software	3 years	4 years
Brand names	-	11 years
Operating rights for licensed games	-	2 years
Others	-	4 years

Goodwill

12 Months Ended

Dec. 31, 2014

Goodwill [Abstract]

Goodwill

13.

Goodwill

	For the Year ended December 31,
	2013			2014
	RMB			RMB

Balance at beginning of the year		1,604			1,577
Acquisition of Zhengrenqiang and Dubooker in 2014		-			195,893
Acquisition of Xingxue and Chuangzhi in 2014		-			100,382
Acquisition of another company in 2014		-			2,527
Foreign exchange		(27	)		3
Balance at end of the year		1,577			300,382

In December 2014, the Company purchased 100% equity interest of Zhengrenqiang and Dubooker. Goodwill of RMB195.9 million was recognized from this acquisition (Note 4).

In December 2014, the Company purchased 100% equity interest of Xingxue and Chuangzhi. Goodwill of RMB100.4 million was recognized from this acquisition (Note 4).

Goodwill arose from the business combination completed in the years ended December 31, 2014 has been allocated to the single reporting unit of the Group. Goodwill represents the synergy effects of the business combination.

The Company performed goodwill impairment tests to determine if goodwill impairment is indicated in year 2013 and 2014, and the results of these tests indicated that the Company's goodwill was not impaired.

Deferred revenue

12 Months Ended

Dec. 31, 2014

Deferred revenue [Abstract]

Deferred revenue

15.

Deferred revenue

	December 31,
	2013		2014
	RMB		RMB

Deferred revenue, current:
IVAS revenues		292,184		354,454
Government grants		1,682		1,696
Total current deferred revenue		293,866		356,150

Deferred revenue, non-current:
IVAS revenues		8,457		23,850
Government grants		968		533
Total non-current deferred revenue		9,425		24,383

Convertible bonds

12 Months Ended

Dec. 31, 2014

Convertible bonds [Abstract]

Convertible bonds

17.

Convertible bonds

	December 31,
	2013		2014
	RMB		RMB

2019 Convertible Senior Notes		-		2,447,980

On March 18, 2014, the Company issued Convertible Senior Notes due 2019 with principal amount of US$400,000,000(the "Notes"). The Notes bear interest at a rate of 2.25% per year, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2014. The Notes will mature on April 1, 2019. Holders may convert their Notes at their option at any time prior to the close of business on the second business day immediately preceding the maturity date.

Upon conversion, the Company will deliver, for each US$1,000 principal amount of converted Notes, a number of ADSs, each representing twenty Class A common shares of YY Inc., par value of US$0.00001 per share, equal to the conversion rate.

The conversion rate will initially be 9.0334 ADSs per US$1,000 principal amount of Notes (equivalent to an initial conversion price of approximately US$110.70 per ADS).

The net proceeds to the Company from the issuance of the Notes were US$390.8 million. Debt issuance costs were US$9.2 million and are being amortized to interest expense from the issuance date (March 18, 2014) to the first put date of the Notes (April 1, 2017).

The Notes are general senior unsecured obligations and rank (1) senior in right of payment to any of the Company's future indebtedness that is expressly subordinated in right of payment to the Notes, (2) equal in right of payment to any of the Company's future unsecured indebtedness of the Company that is not so subordinated, (3) junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness and (4) structurally junior to all indebtedness and other liabilities (including trade payables) of the Company's subsidiaries, VIEs and VIE's subsidiaries.

The value of the Notes is measured by the cash received. As of December 31, 2014, RMB2.4 billion (US$400 million) has been accounted for as the value of the Notes in non-current liabilities.

The key terms of the Notes are as follows:

Redemption

Contingent redemption option

The Notes are not redeemable prior to the maturity date of April 1, 2019, except as described below. The holders of the Notes (the “Holders”) have a non-contingent option to require the Company to repurchase for cash all or any portion of their Notes on April 1, 2017. The repurchase price will equal 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. If a fundamental change (as defined in the Indenture of the 2019 Convertible Senior Notes) occurs prior to the maturity date, the Holders may require the Company to purchase for cash all or any portion of the Notes at a purchase price equal to 100% of the principal amount of the Notes to be purchased plus accrued and unpaid interest, if any, to, but excluding, the fundamental change purchase date. The Holders have the option to require the Company to repurchase the Notes, in whole or in part, in the event of a fundamental change for an amount equal to the 100% of the principal amount and any accrued and unpaid interest in the event of fundamental changes. The Company believes that the likelihood of occurrence of events of a fundamental change is remote.

The contingent redemption option is assessed in accordance with ASC 815-15-25-42. The contingent redemption option is considered clearly and closely related to its debt host and does not meet the requirement for bifurcation as the Notes were issued at par and the repurchase feature requires the issuer to settle the option by delivering par plus accrued and unpaid interest, the Notes holder would recover all of their initial investment. Additionally, since the Notes holder can only recover its initial investment upon exercise of its option, there are no interest rate scenarios under which the embedded derivative would at least double the investor's initial rate of return.

Non-contingent redemption option

On or after April 1, 2017, the Holders have the right to require the issuer to redeem, at 100% of the loan's principal amount plus accrued and unpaid interest, in which circumstance the Holders would recover substantially all of their initial investment.

Conversion

The Holders may convert their Notes in integral multiples of US$1,000 principle amount at an initial conversion rate of 9.0334 ADS, at any time prior to the maturity date of April 1, 2019. Upon conversion of the Notes, the Company will deliver shares of the Company's ADS. The conversion rate is subject to adjustment in certain events, including, but not limited to, the issuance of certain share dividends on the Class A common shares, the issuance of certain rights or warrants, subdivisions, combinations, distributions of capital stock, indebtedness, or assets, cash dividends and certain issuer tender or exchange offers (as defined in the Indenture of the 2019 Convertible Senior Notes). In addition, upon a make-whole fundamental change (as defined in the Indenture of the 2019 Convertible Senior Notes), the Company will, under certain circumstances, increase the applicable conversion rate for a holder that elects to convert its Notes in connection with such make-whole fundamental change.

In accordance with ASC 815-10-15-83, the conversion option meets the definition of a derivative. However, bifurcation of conversion option from the Notes is not required as the scope exception prescribed in ASC 815-10-15-74 is met as the conversion option is considered indexed to the entity's own stock and classified in shareholders' equity.

Assessment of Beneficial Conversion Feature and Contingent Beneficial Conversion Feature:

As the conversion options are not bifurcated, the Company has assessed the beneficial conversion feature (“BCF”), as of commitment date as defined in ASC 470-20. There was no BCF attributed to the Notes as the set conversion price for the Notes was greater than the fair value of the ordinary share price on the date of issuance.

The Holders have the option to convert upon a fundamental change, if Holders decide to convert in connection with a fundamental change; the number of shares issuable upon conversion will be increased. Upon occurrence of such adjustment, the Company will have to assess the contingent BCF using a measurement date upon issuance of the Notes. The settlement of the conversion is based on a make-whole provision resulting from a fundamental change, this feature is consistent with ASC 815-40-55-46, therefore the Company concludes that this feature is also considered indexed to its own shares.

Accounting for Debt Issuance Costs:

The debt issuance costs were recorded as deferred issuance costs and are amortized as interest expense, using the effective interest method, over the term of the Notes pursuant to ASC 835-30-35-2.

Interest expense being recognized during the year ended December 31, 2014 is RMB56,607.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Income tax

12 Months Ended

Dec. 31, 2014

Income tax [Abstract]

Income tax

20.

Income tax

(i) Cayman Islands (“Cayman”)

Under the current tax laws of Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. Besides, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

(ii) BVI

Duowan BVI is exempt from income tax on its foreign-derived income in the BVI. There are no withholding taxes in the BVI.

(iii) Hong Kong profits tax

Entities incorporated in Hong Kong are subject to Hong Kong profits tax at a rate of 16.5% on the estimated assessable profit for the years ended December 31, 2012, 2013 and 2014.

(iv) PRC Enterprise Income Tax (“EIT”)

The Company's subsidiaries, VIEs and VIE's subsidiaries in China are governed by the Enterprise Income Tax Law (“EIT Law”), which became effective on January 1, 2008. Pursuant to the EIT Law and its implementation rules, enterprises in China are generally subjected to tax at a statutory rate of 25%. Certified High and New Technology Enterprises (“HNTE”) are entitled to a favorable statutory tax rate of 15%, and qualified software enterprises can enjoy an income tax exemption for two years beginning with their first profitable year and a 50% tax reduction to the applicable tax rate for the subsequent three years.

The Group's PRC entities provided for enterprise income tax as follows:

•

From 2012 to 2014, Guangzhou Huaduo accrued the EIT at a tax rate of 15% as a result of HNTE status.

•

Guangzhou Huanju Shidai reported tax loss from 2010 to 2013. On December 31, 2013, Guangzhou Huanju Shidai was granted the qualification as a software enterprise and started to enjoy the 0% preferential tax rate beginning from 2014.

•

Other PRC subsidiaries, VIE and VIE's subsidiaries were subject to 25% EIT for the periods reported.

According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, enterprises engaged in research and development activities are entitled to claim 150% of the research and development expenses so incurred in a year as tax deductible expenses in determining its tax assessable profits for that year (“Super Deduction”). Certain subsidiaries and VIEs of the Group successfully claimed the Super Deduction in ascertaining the tax assessable profits for the periods reported.

In addition, according to the New EIT Law and its implementation rules, foreign enterprises, which have no establishment or place in the PRC but derive dividends, interest, rents, royalties and other income (including capital gains) from sources in the PRC shall be subject to PRC withholding tax (“WHT”) at 10% (a further reduced WHT rate may be available according to the applicable double tax treaty or arrangement). The 10% WHT is applicable to any dividends to be distributed from the Group's PRC subsidiaries, VIEs and VIE's subsidiaries to the Group's oversea companies.

Aggregate undistributed earnings and reserves of the Company's subsidiaries located in the PRC that are available for distribution to the Company as of December 31, 2013 and 2014 are approximately RMB753,975 and RMB1,819,004, respectively. The undistributed earnings and reserves of the Company's subsidiaries, VIEs and VIE's subsidiaries located in the PRC are considered to be indefinitely reinvested, because the Group does not have any present plan to pay any cash dividends on its common shares in the foreseeable future and intends to retain most of its available funds and any future earnings for use in the operation and expansion of its business. Accordingly, no deferred tax liability on 10% WHT of aggregate undistributed earnings and reserves of the Company's subsidiaries located in the PRC has been accrued for the China dividend withholding taxes that would be payable upon the distribution of those amounts to the Company as of December 31, 2013 and 2014.

Composition of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of operations are as follows:

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

Current income tax expenses		(48,357	)		(125,365	)		(200,034	)
Deferred income tax benefits		19,316			35,414			45,751
Income tax expense for the year		(29,041	)		(89,951	)		(154,283	)

Reconciliation of the differences between statutory tax rate and the effective tax rate

The reconciliation of total tax expense computed by applying the respective statutory income tax rate to pre-tax income is as follows:

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

PRC Statutory income tax rate		(25.0	)%		(25.0	)%		(25.0	)%
Effect of preferential tax rate		10.4	%		10.5	%		13.1	%
Effect of tax-exempt entities		0.2	%		2.2	%		1.1	%
Permanent differences (i)		(13.9	)%		(4.0	)%		(3.5	)%
Change in valuation allowance		(2.0	)%		(3.0	)%		(0.4	)%
Effect of Super Deduction available to the Group		5.7	%		3.4	%		2.0	%
Effective income tax rate		(24.6	)%		(15.9	)%		(12.7	)%

(i)	Permanent differences mainly arise from expenses not deductible for tax purposes including primarily share-based compensation costs and expenses incurred by subsidiaries and VIEs.

Deferred tax assets and liabilities

Deferred taxes were measured using the enacted tax rates for the periods in which they are expected to be reversed. The tax effects of temporary differences that give rise to the deferred tax asset balances as of December 31, 2013 and 2014 are as follows:

	December 31,
	2013			2014
	RMB			RMB

Deferred tax assets, current:
Deferred revenue		32,905			37,796
Allowance for doubtful accounts receivable, accrued expense and others not currently deductible for tax purposes		39,791			82,957
Valuation allowance (i)		(5,775	)		(9,317	)
Total current deferred tax assets, net		66,921			111,436

Deferred tax assets, non-current:
Tax loss carried forward		16,400			14,654
Deferred revenue		445			343
Impairment of investment		180			798
Others		-			705
Valuation allowance (i)		(16,400	)		(15,108	)
Total non-current deferred tax assets, net		625			1,392

Deferred tax liabilities, non-current:
Related to acquired intangible assets		-			26,709

(i)

Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carry forwards. Valuation allowance was provided for net operating loss carry forward because it was more likely than not that such deferred tax assets will not be realized based on the Group's estimate of its future taxable income. If events occur in the future that allow the Group to realize more of its deferred income tax than the presently recorded amounts, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur.

Tax loss carry forwards

As of December 31, 2014, the Group had tax loss carry forwards of approximately RMB58,615, which can be carried forward to offset future taxable income. The net operating tax loss carry forwards will begin to expire as follows:

	Amount
	RMB

2015		-
2016		2,574
2017		685
2018		25,428
2019		29,928
Total		58,615

In accordance with PRC Tax Administration Law on the Levying and Collection of Taxes, the PRC tax authorities generally have up to five years to claw back underpaid tax plus penalties and interest for PRC entities' tax filings. In the case of tax evasion, which is not clearly defined in the law, there is no limitation on the tax years open for investigation. Accordingly, the PRC entities' tax years from 2010 to 2014 remain subject to examination by the tax authorities. There were no ongoing examinations by tax authorities as of December 31, 2014.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Common shares

12 Months Ended

Dec. 31, 2014

Common shares [Abstract]

Common shares

21.

Common shares

On October 31, 2012, several executives of the Company converted in aggregate 5,068,000 vested restricted shares into common shares.

Upon the completion of the Company's IPO on November 21, 2012(Note 1(c)), the Company's shares were divided into Class A common shares and Class B common shares, par value of US$0.00001. Holders of Class A common shares and Class B common shares have the same rights, except for voting rights and conversion rights. Holders of Class A common shares are entitled to one vote per share in all shareholders' meetings, while holders of Class B common shares are entitled to ten votes per share. Each Class B common share is convertible into one Class A common share at any time at the discretion of the Class B shareholders thereof, while Class A common shares are not convertible into Class B common shares under any circumstances. The impact of dividing Class A and Class B commons shares has been retroactively reflected in the Company's capital structure in the consolidated financial statements.

As of December 31, 2012, 10,000,000,000 Class A common shares and 1,000,000,000 Class B common shares had been authorized, 179,400,000 Class A common shares and 907,833,224 Class B common shares had been issued and outstanding, respectively.

During the year ended December 31, 2013, 21,256,900 Class A common shares were issued for the exercised share options, vested restricted shares and restricted share units, 422,001,838 Class B common shares were converted to Class A common shares.

As of December 31, 2013, 10,000,000,000 Class A common shares and 1,000,000,000 Class B common shares had been authorized, 622,658,738 Class A common shares and 485,831,386 Class B common shares had been issued and outstanding, respectively.

During the year ended December 31, 2014, 25,036,140 Class A common shares were issued for the exercised share options, vested restricted shares and restricted share units and 58,478,690 Class B common shares were converted to Class A common shares.

As of December 31, 2014, 10,000,000,000 Class A common shares and 1,000,000,000 Class B common shares had been authorized, 706,173,568 Class A common shares and 427,352,696 Class B common shares had been issued and outstanding, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SAB TOPIC 4.C)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph d

-Article 4

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

+ Details

Convertible redeemable preferred shares

12 Months Ended

Dec. 31, 2014

Convertible redeemable preferred shares [Abstract]

Convertible redeemable preferred shares

22.

Convertible redeemable preferred shares

During the First Reorganization, Duowan Limited issued 54,488,000 Series A convertible preferred shares (“Series A Preferred Shares”) and warrant to a third party investor (“Series A Investor”) in exchange for an aggregate purchase price of RMB7,720, or US$0.0184 per share. During the Second Reorganization in June 2008, Duowan BVI issued an additional 81,612,930 Series A convertible preferred shares to the Series A Investor for an aggregate purchase price of RMB13,722. The related issuance costs were RMB172.

In August 2008, Duowan BVI issued 102,073,860 Series B convertible redeemable preferred shares (“Series B Preferred Shares”) for aggregate cash consideration of RMB34,232 and issuance costs of RMB278.

In November 2009, Duowan BVI issued 16,249,870 Series C-1 convertible redeemable preferred shares (“Series C-1 Preferred Shares”) and 104,999,650 C-2 convertible redeemable preferred shares (“Series C-2 Preferred Shares”, collectively with Series C-1 Preferred Shares, “Series C Preferred Shares”), for aggregate cash considerations of RMB8,875 and RMB71,684 respectively. Series C Preferred Shares issuance costs were RMB274.

Series A Preferred Shares, Series B Preferred Shares and Series C Preferred Shares are collectively referred to as the “Preferred Shares”.

As of December 31, 2011, the Company has determined that the Preferred Shares should be classified as mezzanine equity since the Preferred Shares are contingently redeemable by the holders in the event that a qualified IPO has not occurred and the Preferred Shares have not been converted as of the redemption date.

The Company determined that there were no embedded derivatives requiring bifurcation as the economic characteristics and risks of the conversion feature embedded in derivative instrument are clearly and closely related to that of the convertible preferred shares, and the convertible and redeemable preferred shares are not readily convertible into cash as there is no market mechanism in place for trading its share.

As of December 31, 2011, the Preferred Shares comprised of the following:

Series	Issuance Date	Shares Issued and Outstanding		Issue Price Per Share (US$)		Proceeds from Issuance, Net of Issuance Costs (US$)		Carrying Amount (RMB)
A	December 1, 2006		54,488,000		0.0184		1,000		374,332
A	June 2, 2008		81,612,930		0.0245		1,975		560,681
B	August 8, 2008		102,073,860		0.0490		4,959		703,901
C-1	November 22, 2009		16,249,870		0.0800		1,300		112,556
C-2	November 22, 2009		104,999,650		0.1000		10,460		729,464

All Preferred Shares' par value is US$0.00001. The rights, preferences and privileges of the Preferred Shares are as follows:

Conversion

Each Preferred Share was convertible, at the option of the holders, at any time after the date of issuance of such preferred shares into such number of common shares according to a conversion price. Each share of Series A, Series B, Series C Preferred Shares was convertible into one common share and was subject to adjustments for certain events, including but not limited to additional equity securities issuance, share dividends, subdivisions, redemptions, combinations, or consolidation of common shares. The conversion price is also subject to adjustment in the event the Company issues additional common shares at a price per share that is less than such conversion price. In such case, the conversion price shall be reduced to adjust for dilution.

Each Preferred Share was automatically converted into common shares at the then effective conversion price with respect to such Preferred Share (i) at the closing of a Qualified IPO, or (ii) at the election of the majority Series A, Series B, and Series C Preferred Shares holders (each voting or consenting as a separate class).

As of December 31, 2010, the Qualified IPO is defined as a firm-commitment public offering of common shares of the Company in the United States that has been registered under the Securities Act and on a recognized securities exchange such as NASDAQ or the New York Stock Exchange, or in a similar public offering of common shares in a jurisdiction and on a recognized securities exchange outside of the United States, including without limitation, the Hong Kong Stock Exchange, provided that (a) the market capitalization of the Company upon completion of such initial public offering shall be no less than US$400,000 and such public offering and the aggregate proceeds (before deduction of underwriting discounts and registration expenses) is approved by majority of the board of directors (including the affirmative consent of the majority of the Series A, Series B, and Series C Preferred Shares director), or (b) such public offering and the aggregate proceeds (before deduction of underwriting discounts and registration expenses) is approved by majority of the board of directors (including the affirmative consent of each of the Preferred Shares' directors), and provided further that such public offering is made at an equivalent price and yields equivalent offering proceeds and there is regulatory approval for such offering. Subsequent to the Series D Common Share Financing in January 2011, the Qualified IPO is defined as a firm-commitment public offering of common shares of the Company in the United States that has been registered under the Securities Act and on a recognized securities exchange such as NASDAQ or the New York Stock Exchange, or in a similar public offering of common shares in a jurisdiction and on a recognized securities exchange outside of the United States, including without limitation, the Hong Kong Stock Exchange, provided that (a) the market capitalization of the Company upon completion of such initial public offering shall be no less than US$1,500,000 and such public offering and the aggregate proceeds (before deduction of underwriting discounts and registration expenses) is approved by majority of the board of directors (including the affirmative consent of the majority of the Series A Director, the Series B Director, the Series C Director and the Series D director), or (b) such public offering and the aggregate proceeds (before deduction of underwriting discounts and registration expenses) is approved by majority of the board of directors (including the affirmative consent of each of the Series A Director, the Series B Director, the Series C Director and the Series D Director, if applicable), and provided further that such public offering is made at an equivalent price and yields equivalent offering proceeds and there is regulatory approval for such offering.

On September 19, 2012, the board of directors of the Company resolved to approve to raise additional capital through an underwritten initial public offering of its shares in the United States of America as a Qualified IPO.

Upon the completion of the IPO on November 21, 2012, each Preferred Share was automatically converted into one Class B common share. As a result, 359,424,310 Class B common shares were issued, and the balance of Preferred Shares was transferred to Class B common shares and additional paid-in capital on the same day.

Redemption Right

As of December 31, 2010, at any time after the date that is the earlier of i) the date of the occurrence of a Default Redemption Event, and ii) five years following the Series C-1 original issue date and Series C-2 original issue date, at the election of the majority of Series C holders, the Company shall redeem all or any lesser portion of its then outstanding Preferred Shares. A Default Redemption Event shall be deemed to occur if the Company's corporate structure as a whole, including without limitation the VIE documents, is invalidated or otherwise challenged by any PRC governmental authority, court or other official governmental body as a result of the application of or interpretation of the PRC law. In connection with the Series D Common Share Financing in January 2011, the Default Redemption Event was removed and the redemption date was changed to any time after June 30, 2015.

The redemption date above is subject to postponement until the Company meets the financial thresholds of having at least US$3,000 of cash or cash equivalents on the balance sheet or the Company has generated over US$1,000 in free cash flows in the preceding twelve months.

The redemption price of Series A Preferred Shares is equal to (i) the fair market value of the Series A Preferred Shares as of the redemption date, or (ii) 150% of the original issue price of Series A Preferred Shares, plus all declared or accrued but unpaid dividends up until the date of redemption, plus an amount that would give the holders of the Series A Preferred Shares an internal rate of return of no less than 10% per annum.

The redemption price of Series B Preferred Shares is equal to (i) the fair market value of the Series B Preferred Shares as of the redemption date, or (ii) 100% original issue price of Series B Preferred Shares, plus all declared or accrued but unpaid dividends up until the date of redemption, plus an amount that would give the holders of the Preferred Shares an internal rate of return of no less than 10%.

The redemption price of Series C Preferred Shares is equal to (i) the fair market value of the Series C Preferred Shares as of the redemption date, or (ii) 100% original issue price of Series C-1 or C-2 Preferred Shares, plus all declared or accrued but unpaid dividends up until the date of redemption, plus an amount that would give the holders of the Series C-1 or C-2 Preferred Shares an internal rate of return of no less than 10% per annum.

Modification

Upon its issuance, Series A Preferred Shares were classified as permanent equity and were not redeemable. In association with the issuance of Series B Preferred Shares in August 2008, Series A Preferred Shares were granted redemption at the option of the holders and drag-along rights and accordingly were reclassified as mezzanine equity of the Company. The Company concluded that the addition of the redemption and drag-along rights is a modification of the terms of the Series A Preferred Shares. The incremental value received by the Series A Preferred Shareholders amounted to RMB916 which was deemed to be a wealth transfer between the preferred shareholders and the common shareholders and was charged to additional paid-in capital.

Upon its issuance, Series B Preferred Shares had a redemption right beginning on or after the seventh anniversary following the issuance of Series B Preferred Shares. In association of the issuance of Series C Preferred Shares, the redemption right for Series A and Series B Preferred Shares and drag along rights were amended. The Company concluded amendment of the redemption and drag-along rights is a modification of the terms of the Series A and Series B Preferred Shares. The incremental value received by Series A and Series B Preferred Shareholders amounted to RMB19 and RMB176, respectively, which were deemed to be a wealth transfer between the preferred shareholders and the common shareholders and were charged to additional paid-in capital.

Accretion (Decretion)

Due to the redemption features described above, the Company classified the Preferred Shares in the mezzanine equity section of the consolidated balance sheets. The Company recognized the changes in the redemption value immediately as they occurred and adjusted the carrying amount of the Preferred Shares to equal the redemption value at the end of each reporting period. The fair market values of the Preferred Shares as of December 31, 2010 and 2011 were greater than the redemption value as of December 31, 2009 and 2010, while the fair market value of the Preferred Shares prior to conversion on November 21, 2012 was lower than the redemption value as of December 31, 2011. As a result, the Company recorded accretion (decretion) to the redemption value immediately and adjusted the carrying amount of the instrument to equal to the redemption value at the end of each reporting period. The accretion was recorded against retained earnings, or in the absence of retained earnings, by charging against additional paid-in capital. Once additional paid-in capital has been exhausted, additional charges were recorded by increasing accumulated deficit. The decretion was recorded against the previous accretion originally recognized in retained earnings or additional paid-in capital, where applicable.

The following table sets forth the changes of each of the convertible redeemable preferred shares for years ended December 31, 2012, 2013 and 2014:

Series A Preferred Shares

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Beginning balance		935,013			-		-
Decretion to redemption value		(485,517	)		-		-
Conversion of convertible redeemable preferred shares into Class B common shares		(449,496	)		-		-
Ending balance		-			-		-

Series B Preferred Shares

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Beginning balance		703,901			-		-
Decretion to redemption value		(366,785	)		-		-
Conversion of convertible redeemable preferred shares into Class B common shares		(337,116	)		-		-
Ending balance		-			-		-

Series C Preferred Shares

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Beginning balance		842,020			-		-
Decretion to redeemable value		(441,573	)		-		-
Conversion of convertible redeemable preferred shares into Class B common shares		(400,447	)		-		-
Ending balance		-			-		-

Prior to the completion of the IPO, the Company engaged an independent valuation firm to assist them in determining the fair values of the preferred and common shares which were estimated as of the date of issuance and at each financial statement reporting date using the “Discounted Cash Flow Method” , the “Guideline Transaction Method” and the “Backsolve Method”, where methodologies, approaches and assumptions are consistent with the current working draft of the American Institute of Certified Public Accountants practice aid Valuation of Privately Held Company Equity Securities Issued as Compensation. The Guideline Transaction Method is a form of market approach based on the enterprise value to revenue multiples of the Group's own equity transactions close to the valuation date. The Backsolve Method is a form of market approach to valuation that derives the implied equity value for one type of equity security (e.g. common equity) from a contemporaneous transaction involving another type of equity security (e.g., preferred share). The Discounted Cash Flow Method, a form of income approach, estimates the fair value based on projected cash flows at each of the valuation dates. The followings are assumptions in the Discounted Cash Flow Method:

	December 31, 2011

Risk-free interest rate		2.53	%
Volatility		66.1	%
Dividend yield		-
Discount rate		16	%

The Company estimated the risk-free interest rate based on yield-to-maturities in continuous compounding of the China Government Bond with the time to maturities similar to the Preferred Shares. The Company estimated volatility at the dates of appraisal based on average of historical volatilities of the comparable companies in the same industry. The Company has no history or expectation of paying dividend on the Preferred Shares. Discount rate is estimated by weighted average cost of capital as at each appraisal date. In addition to the above assumptions adopted, the Company's projections of future performance were also factored into the determination of the fair value of each Preferred Share.

Liquidity Preference

In the event of any liquidation, dissolution or winding up of the Company or any deemed liquidation event (e.g., change in control), the holders of Series B Preferred Shares and Series C Preferred Shares were entitled to receive an amount per share equal to 100% of the original issuance price plus all dividends accrued, or declared and unpaid. Series A Preferred Shares were entitled to receive an amount per share equal to 150% of the original issuance price plus all declared or accrued but unpaid dividends.

If the assets and funds distributed among the holders are insufficient to permit the payment of the full preferential amounts, then the holders of Series C Preferred Shares shall be entitled to be paid first, followed in sequence by Series B Preferred Shares, Series A Preferred Shares and common shares. After payment of the full amounts from above, the remaining assets of the Company available for distribution shall be distributed ratably among the holders of preferred shares and common shares in proportion to the number of outstanding shares held by each holder on an as converted basis.

Dividends

Each holder of Preferred Shares was entitled to receive dividends when and if declared by the board of directors of the Company. As long as the Preferred Shares were outstanding, the Company might not pay any dividend to common shareholders until all dividends declared and payable to the preferred shareholders had been paid. In the event the Company shall declare a dividend to the holders of common shares, then in each such case, the holders of the Preferred Shares shall be entitled to a proportionate share of such dividend on an as-converted basis.

Voting rights

Each Preferred Share conveys the right to the shareholder of one vote for each common share upon conversion.

Share-based compensation

12 Months Ended

Dec. 31, 2014

Share-based compensation [Abstract]

Share-based compensation

23.

Share-based compensation

(a)

Share options

Pre-2009 Scheme Options

Grant of options

Before the adoption of the Employee Equity Incentive Scheme (the “2009 Incentive Scheme”), 12,705,700 and 8,499,050 share options were granted to employees through individually signed share option agreements, to acquire common shares of Duowan BVI on a one-to-one basis on January 1, 2008 and 2009 respectively. In addition, on January 1, 2008, 3,832,290 share options were granted to one non-employee for the provision of consulting services to the Group (collectively defined as “Pre-2009 Scheme Options”).

Vesting of options

These Pre-2009 Scheme Options will vest over a four years' service period, with 25% of the options vesting after the first anniversary of the vesting inception date and the remaining 75% in six equal installments over the following 36 months. The options may be exercised provided that both the service conditions and a performance condition are met. The performance condition is defined to be i) an initial public offering, ii) completion of a financing meeting certain criteria, iii) an internal reorganization, or iv) a voluntary winding up of Duowan BVI. The performance condition that is tied to completion of a financing fulfilling certain criteria was met in June 2008 or November 2009.

The following table summarizes the activities of the Pre-2009 Scheme Options for employees and non-employee for the years ended December 31, 2012, 2013 and 2014:

	Number of options			Weighted average exercise price (US$)		Weighted average remaining contractual life (years)		Aggregate intrinsic value (US$)

Outstanding, January 1, 2012		17,889,535			0.0055		6.37		19,366
Forfeited		(19,110	)		0.0067		6.25

Outstanding, December 31, 2012		17,870,425			0.0055		5.37		12,642
Exercised		(4,648,420	)		0.0045		4.30

Outstanding, December 31, 2013		13,222,005			0.0059		4.40		33,162
Exercised		(5,841,660	)		0.0057		3.24

Outstanding, vested and exercisable, December 31, 2014		7,380,345			0.0061		3.52		22,959

Forfeitures are estimated at the time of grant. If necessary, forfeitures are revised in subsequent periods if actual forfeitures differ from those estimates.

The aggregate intrinsic value in the table above represents the difference between the Company's common shares as of December 31, 2012, 2013 and 2014 and the exercise price.

Prior to the completion of the IPO, the Binomial option pricing model is used to determine the fair value of the share options granted to employees and the non-employee.

Upon the completion of the IPO, the fair value of share options granted to a non-employee with nil exercise price was assessed to be equivalent to the fair value of the Company's common share. These share options were remeasured at the stock price of the Company's common share as of December 31, 2013 and 2014.

The total intrinsic value of options exercised during the year ended December 31, 2012, 2013 and 2014 amounted to nil, RMB64,195 and RMB134,844, respectively. For the years ended December 31, 2012, 2013 and 2014, the Company recorded share-based benefit of RMB89, share-based compensation of RMB14,004 and nil, respectively, using the graded-vesting attribution method for employees and non-employee.

As of December 31, 2014, there was no unrecognized compensation cost and expense related to Pre-2009 Scheme Options granted to employees and non-employee.

(b)

Restricted shares

Since January 1, 2010, Duowan BVI granted 61,250,677 restricted shares to employees and 100,000 restricted shares to a non-employee pursuant to the 2009 Incentive Scheme. As of December 31, 2014, the restricted shares granted to employees and the non-employee were fully vested.

Vesting of restricted shares

The restricted shares have vesting conditions and will vest 50% after 24 months of the grant date and the remaining 50% will vest in two equal installments over the next 24 months. Under the restricted shares agreement, no shares may be sold or transferred prior to the occurrence of an exit event, as defined in the respective restricted share agreements as: i) a listing on any recognized stock exchange, ii) a sale by Duowan BVI of all or substantially all of its assets, iii) a sale of all of the issued capital of Duowan BVI, or iv) passing for court order of winding up of Duowan BVI.

If the employee terminates employment, the service vested portion of the restricted shares may be subject to: (i) repurchase (subject to Company's sole discretion) by Duowan BVI at fair value of common shares of Duowan BVI which is assessed by the Company with the assistance of an independent valuation firm; or (ii) be held by a person who is an existing employee of the Group and is designated by the leaving restricted share holder according to a properly signed escrow agreement to hold such shares for and on his/her behalf. If the leaving employee fails to deliver a properly signed agreement to Duowan BVI within 30 days from receipt of the notification from Duowan BVI, such service vested shares shall automatically lapse and expire.

The following table summarizes the restricted shares activity for the years ended December 31, 2012, 2013 and 2014:

	Number of restricted shares			Weighted average grant-date fair value (US$)

Outstanding, January 1, 2012		43,285,101			0.4885
Forfeited		(3,673,580	)		0.4945
Vested		(21,380,720	)		0.4864

Outstanding, December 31, 2012		18,230,801			0.4898
Forfeited		(1,581,789	)		0.8726
Vested		(11,975,287	)		0.3906

Outstanding, December 31, 2013		4,673,725			0.6144
Forfeited		(159,410	)		0.9362
Vested		(4,514,315	)		0.6030

Outstanding, December 31, 2014		-

Expected to vest at December 31, 2014		-

Forfeitures are estimated at the time of grant. If necessary, forfeitures are revised in subsequent periods if actual forfeitures differ from those estimates.

For the years ended December 31, 2012, 2013 and 2014, the Company recorded share-based compensation of RMB36,371, RMB7,300 and RMB3,771, respectively, using the graded-vesting method for employees and non-employee.

(c)

Share-based awards granted to CEO and Chairman of the Company

On February 23, 2010, the CEO and the Chairman of the Company, also directors and shareholders were granted 13,369,813 and 29,678,483 restricted shares, respectively. The Chairman's shares have a service condition that vest over a four year period (50% after the second anniversary and 25% each year thereafter). Both the CEO's and the Chairman's shares are subject to a performance condition which relates to the number of peak concurrent users on the YY Client. Such performance condition was met as of December 31, 2010.

Pursuant to the provisions stipulated in the grant document relating to these restricted shares grant, upon the occurrence of an Acceleration Event, the restricted shares granted to the Chairman would also become fully vested. An “Accelerated Event” is defined as (i) a Listing, (ii) a sale of all or substantially all of the issued share capital of Duowan BVI, (iii) a sale by Duowan BVI of all or substantially all of its assets, (iv) the passing of an effective resolution or the making of an order of a competent court for the winding up of Duowan BVI.

The following table summarizes information regarding the restricted shares granted to the CEO and the Chairman:

	Number of restricted shares			Weighted average grant-date fair value (US$)

Outstanding, January 1, 2012		29,678,483			0.1875
Vested		(29,678,483	)		0.1875

Outstanding, December 31, 2012, 2013 and 2014		-

The fair value of the share-based awards above was determined at the respective grant dates by the Company with the assistance of an independent valuation firm.

The Company recognized these awards as employee share-based compensation awards using fair value of the awards on the grant date. As of December 31, 2010, the performance condition was met. The compensation expense for the CEO's restricted shares was fully recognized and the compensation expense for the Chairman's restricted shares is recognized over the requisite service period using the graded vesting method. Upon the completion of the IPO, the restricted shares granted to the Chairman were fully vested and all remaining compensation expenses were recognized immediately.

The total fair value of restricted shares vested during the year ended December 31, 2012, 2013 and 2014 amounted to RMB35,924, nil and nil, respectively.

Share-based compensation expenses related to the awards granted to the CEO and Chairman of RMB9,624, nil and nil were recognized in general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2012, 2013 and 2014.

As of December 31, 2014, there was no unrecognized compensation cost and expense related to the restricted shares.

(d)

Restricted Share Units

On September 16, 2011, the board of the directors of the Company approved the 2011 Share Incentive Plan, which permits the grant of share options, restricted shares and restricted share units of up to 43,000,000 shares, to any qualified persons, as determined by the board of the directors of the Company. On the same date, the Company granted 9,097,000 restricted share units to employees pursuant to the 2011 Share Incentive Plan, that are subject to vesting over a four to five years' period. During the year ended December 31, 2012, the Company granted 18,295,221 restricted share units to employees pursuant to the 2011 Share Incentive Plan, which are subject to vesting over a two to four years' period. No restricted share units were granted to non-employees up to December 31, 2012.

In October 2012, the board of directors of the Company resolved that the maximum aggregate number of Class A common shares which may be issued pursuant to all awards under the 2011 Incentive Scheme shall be 43,000,000 plus an annual increase of 20,000,000 on the first day of each fiscal year, beginning from 2013, or such lesser amount of Class A common shares as determined by the board of directors of the Company.

During the year ended December 31, 2013, the Company granted 29,917,989 restricted share units to employees and 48,000 restricted share units to non-employee pursuant to the 2011 Share Incentive Plan, which are subject to vesting over a three to five years' period.

During the year ended December 31, 2014, the Company granted 9,912,595 restricted share units to employees pursuant to the 2011 Share Incentive Plan, which are subject to vesting over a 18 months to five years' period. No restricted share units were granted to non-employees during the year ended December 31, 2014.

The following table summarizes the restricted share units activity for the years ended December 31, 2012, 2013 and 2014:

	Number of restricted shares			Weighted average grant-date fair value (US$)

Outstanding, January 1, 2012		8,996,300			1.0630
Granted		18,295,221			1.0324
Forfeited		(595,900	)		1.0876

Outstanding, December 31, 2012		26,695,621			1.0415
Granted		29,965,989			0.9338
Forfeited		(3,522,992	)		1.0699
Vested		(8,836,018	)		1.0429

Outstanding, December 31, 2013		44,302,600			0.9639

Granted		9,912,595			3.5805
Forfeited		(3,125,430	)		1.1859
Vested		(12,283,670	)		1.0144

Outstanding, December 31, 2014		38,806,095			1.5984

Expected to vest at December 31, 2014		36,892,103			1.5647

For the years ended December 31, 2012, 2013 and 2014, the Company recorded share-based compensation of RMB54,445, RMB95,792 and RMB130,718, using the graded-vesting attribution method.

As of December 31, 2014, total unrecognized compensation expense relating to the restricted share units was RMB204,514. The expense is expected to be recognized over a weighted average period of 1.27 years using the graded-vesting attribution method.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Basic and diluted net income per share

12 Months Ended

Dec. 31, 2014

Basic and diluted net income per share [Abstract]

Basic and diluted net income per share

24.

Basic and diluted net income per share

Basic and diluted net income per share for the years ended December 31, 2012, 2013 and 2014 are calculated as follows:

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Numerator:
Net income attributable to the Company		89,177			477,727		1,064,472
Decretion to convertible redeemable preferred shares redemption value		1,293,875			-		-
Allocation of net income to participating preferred shareholders		(478,754	)		-		-

Numerator of basic net income per share		904,298			477,727		1,064,472
Dilutive effect of preferred shares		(815,121	)		-		-
Numerator for diluted income per share		89,177			477,727		1,064,472

Denominator:
Denominator for basic calculation—weighted average number of Class A and Class B common shares outstanding		604,703,810			1,122,475,688		1,153,140,699
Dilutive effect of preferred shares		320,142,965			-		-
Dilutive effect of share options		17,782,885			16,362,048		10,372,442
Dilutive effect of restricted shares		30,594,877			14,400,670		2,604,789
Dilutive effect of restricted share units		4,802,491			27,882,891		32,425,543
Dilutive effect of share-based awards granted to CEO and Chairman		14,441,808			-		-
Denominator for diluted calculation		992,468,836			1,181,121,297		1,198,543,473

Basic net income per Class A and Class B common share		1.50			0.43		0.92
Diluted net income per Class A and Class B common share		0.09			0.40		0.89
Basic net income per ADS*		29.91			8.51		18.46
Diluted net income per ADS*		1.80			8.09		17.76

The Company was listed on November 21, 2012 with issuance of a total of 8,970,000 ADS at a public offering price of US$10.50 per ADS. Each ADS represents 20 Class A common shares. The net income per ADS for the years ended December 31, 2012, 2013 and 2014 were calculated using the same conversion ratio assuming the ADSs had been in existence during these periods.

The Company's preferred shares are participating securities and as such would be included in the calculation of basic earnings per share under the two-class method. According to the contractual terms of the preferred shares, the preferred shares do not have a contractual obligation to share in the losses of the Company. Therefore, net income was allocated to the preferred shares in the computation of basic net income per share for the year ended December 31, 2012.

The weighted average number of ordinary shares outstanding which could potentially dilute basic earnings per share in the future related to the 2019 Convertible Senior Notes was 57,219,783 for the year ended December 31, 2014.The 2019 Convertible Senior Notes were excluded in the computation of diluted earnings per share in 2014 because the inclusion of such instrument would be anti-dilutive.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Related party transactions

12 Months Ended

Dec. 31, 2014

Related party transactions

25.

Related party transactions

The table below sets forth the related parties and their relationships with the Group:

Related Party		Relationship with the Group

Zhuhai Daren Computer Technology Co., Ltd. (“Zhuhai Daren”)		Equity investment
Guangzhou Shanghang Information Technical Co., Ltd. (“Shanghang”)		Significant influence exercised by the Chairman
Kingsoft Corporation (“Kingsoft”)		Significant influence exercised by the Chairman
Xiaomi Corporation (“Xiaomi”)		Significant influence exercised by the Chairman
Zhuhai Lequ Technology Co., Ltd. (“Zhuhai Lequ”)		Equity investment
Agora, Inc.⁽¹⁾		Controlled by the director and the chairman of technology committee of the Group
Guangzhou Kuyou Information Technology Co., Ltd.(“Guangzhou Kuyou”) ⁽²⁾		Equity investment
Shenzhen Qingdou Network Technology Co., Ltd.(“Shenzhen Qingdou”)		Cost investment with significant influence
Guangzhou Muyou Network Technology Co., Ltd.(“Guangzhou Muyou”)		Cost investment with significant influence
Bigo ⁽³⁾		Controlled by the CEO
Chengdu Xishanju Entertainment Technology Co., Ltd. (“Xishanju”)		Significant influence exercised by the Chairman

(1)

In December 2013, the Group made a minority interest investment to form a new company, Agora, Inc., with the director and the chairman of technology committee of the Group and other strategic investors.

(2)

In March 2014, the Group made a further capital injection of RMB15 million to Guangzhou Kuyou and owned 20% of the equity interests in the company.

(3)

During the years ended December 31, 2012, 2013 and 2014, significant related party transactions were as follows:

	For the year ended December 31,
	2012		2013		2014
	RMB		RMB		RMB

Payment on behalf of Bigo		-		-		61,000
Bandwidth service provided by Shanghang		11,776		21,272		42,470
Online games revenue shared from Guangzhou Kuyou		-		-		37,001
Online games revenue shared from Zhuhai Daren		7,547		24,452		25,597
Purchase of operating rights for licensed games from Guangzhou Kuyou		-		-		6,836
Online games revenue shared from Zhuhai Lequ		-		5,076		2,631
Disposal of an equity investment to Xishanju		-		-		1,563
Interest-free loan to Shenzhen Qingdou		-		-		1,000
Repayment of interest-free loan from Shenzhen Qingdou		-		-		1,000
Interest-free loan to Guangzhou Muyou		-		-		500
Repayment of interest-free loan from Guangzhou Muyou		-		-		500
Online games revenue shared from Xishanju		-		-		18
Purchase of intangible assets from Kingsoft		-		6,010		-
Advertising revenue from Xiaomi		-		1,154		-
Repayment of interest-free loan from Zhuhai Lequ		500		1,000		-
Membership subscription fee revenue from Xiaomi		227		-		-
Repayment of interest-free loan from Zhuhai Daren		2,000		-		-
Interest-free loan to Zhuhai Lequ		1,200		-		-
Disposal of a cost investment to the Chairman and Co-founder, who is also a director of the Company		1,000		-		-
Disposal of an equity investment to Xiaomi		2,000		-		-

As of December 31, 2013 and 2014, the amounts due from/to related parties were as follows:

	December 31,
	2013		2014
	RMB		RMB

Amounts due from related parties
Other receivables from Bigo (*)		-		61,000
Other receivables from Zhuhai Lequ		73		73

Total		73		61,073

Amounts due to related parties
Accounts payable to Guangzhou Kuyou		-		24,454
Accounts payable to Zhuhai Daren		1,479		2,020
Other payables to Shanghang		822		4,342
Accounts payable to Zhuhai Lequ		339		41
Accounts payable to Xishanju		-		35

Total		2,640		30,892

*	As of the date of this report, other receivables from Bigo amounting to RMB61,000 were fully repaid by Bigo.

The other receivables/payables from/to related parties are unsecured, interest-free and payable on demand.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details

Fair value measurements

12 Months Ended

Dec. 31, 2014

Fair value measurements [Abstract]

Fair value measurements

26.

Fair value measurements

Fair value reflects the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the assets or liabilities.

The Group applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This guidance specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows:

Level 1—Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.

Level 2—Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.

Level 3—Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group's own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The fair value guidance describes three main approaches to measure 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.

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. The Group did not have any financial instruments that were required to be measured at fair value on a recurring basis as of December 31, 2013.

The following table summarizes the Company's liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as of December 31, 2014:

As of December 31, 2014

Level 1

Level 2

Level 3

Total

Liabilities

Long-term payable:

Contingent consideration in relation to a business acquisition

183,000

As disclosed in note 4, the Company used the trinomial model in determining the fair value of the contingent consideration. In applying this model, the Company performs a scenario analysis and the fair value of the contingent consideration was determined based on present value of the total contingent consideration under different scenarios and the probability of each scenario. In order to discount the contingent consideration in future years to its present value, a risk free interest rate of 4.14% and a discount rate of 16% are adopted.

Apart from the contingent consideration in relation to a business acquisition, the Group's other financial instruments consist principally of cash, short-term deposits, accounts receivable, amounts due to/from related parties, accounts payable, certain accrued expenses and convertible bonds. The recorded values of cash, accounts receivable, amounts due to/from related parties, accounts payable, certain accrued expenses and convertible bonds are recorded at cost which approximates fair value. The fair value of convertible bonds is within level 2 of the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Commitments and contingencies

12 Months Ended

Dec. 31, 2014

Commitments and contingencies [Abstract]

Commitments and contingencies

27.

Commitments and contingencies

(a)

Operating lease commitments

The Group leases facilities in the PRC under non-cancellable operating leases expiring on different dates. Payments under operating leases are expensed on a straight-line basis over the periods of the respective leases.

Total office rental expenses under all operating leases were RMB16,670, RMB19,423 and RMB28,144 for the years ended December 31, 2012, 2013 and 2014, respectively.

As of December 31, 2014, future minimum payments under non-cancellable operating leases consist of the following:

	Office rental
	RMB

2015		29,413
2016		8,315
2017		2,502
		40,230

(b)

Capital commitment

As of December 31, 2014, the Group did not have any significant capital commitment.

(c)

Litigation

In October 2014, Guangzhou NetEase Computer System Co., Ltd. (“NetEase”) brought a copyright infringement claim against the Group in the Intermediate People's Court of Guangzhou, alleging that the Group's live game broadcasting program has infringed the copyright of one of their online games called Fantasy Westward Journey. The claimant is seeking RMB100 million for their potential damages, requesting YY to cease the copyright infringement practices and apologize publicly. This case is still in early stage and the Group is not able to make a reliable estimate of the potential loss, if any, at this stage.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Subsequent events

12 Months Ended

Dec. 31, 2014

Subsequent events [Abstract]

Subsequent events

28.

Subsequent events

(a) In December 2014, the Company entered into an agreement to acquire 70% of equity interests of a private company, which is principally engaged in e-commerce business. The total amount YY shall pay includes a fixed cash payment of approximately RMB39.2 million in total, plus additional variable cash payment that is contingent upon the achievement of specified performance metrics for years 2015 through 2017.The base contingent payment to be made is RMB219 million when the private company achieves 100% of the performance metrics. Pursuant to the agreement, the actual contingent payment would be adjusted based on the degree of how the actual net profit is higher or lower than the base performance milestone from 2015 through 2017. The acquisition was completed in March 2015.

(b) The Company has commenced the open market ADS repurchases pursuant to its announced share repurchase programs. Up to the date of this report, the Company's board of directors has approved share repurchase programs under which the Company may repurchase up to US$200 million worth of its outstanding ADSs.

Up to the date of this report, the Company has repurchased approximately its outstanding ADSs amounting to US$169.5 million.

Restricted net assets

12 Months Ended

Dec. 31, 2014

Restricted net assets [Abstract]

Restricted net assets

29.

Restricted net assets

Relevant PRC laws and regulations permit payments of dividends by the Group's subsidiaries and the VIEs and VIE's subsidiaries incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Company's subsidiaries and the VIEs and VIE's subsidiaries in the PRC are required to annually appropriate 10% of their net after-tax income to the statutory general reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of their respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the Group's subsidiaries and the VIEs and VIE's subsidiaries incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances, which restricted portion as calculated under US GAAP amounted to approximately RMB303,366 and RMB343,090 as of December 31, 2013 and 2014, respectively. There are no differences between US GAAP and PRC accounting standards in connection with the reported net assets of the legally owned subsidiaries in the PRC and the VIEs and VIE's subsidiaries. Even though the Company currently does not require any such dividends, loans or advances from the PRC entities for working capital and other funding purposes, the Company may in the future require additional cash resources from them due to changes in business conditions, to fund future acquisitions and development, or merely to declare and pay dividends or distributions to our shareholders. Except for the above, there is no other restriction on use of proceeds generated by the Group's subsidiaries and the VIEs and VIE's subsidiaries to satisfy any obligations of the Company.

The Company performed a test on the restricted net assets of consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that the restricted net assets did not exceed 25% of the consolidated net assets of the Company as of December 31, 2014 and the condensed financial information of the Company are not required to be presented.

Principal accounting policies (Policies)

12 Months Ended

Dec. 31, 2014

Principal accounting policies [Abstract]

Basis of presentation

(a)

Basis of presentation

The consolidated financial statements have been prepared in accordance with the US GAAP to reflect the financial position and results of operations of the Group.

Consolidation

(b)

Consolidation

Use of estimates

(c)

Use of estimates

Foreign currency translation

(d)

Foreign currency translation

Convenience translation

(e)

Convenience translation

Fair value of financial instruments

(f)

Fair value of financial instruments

Cash and cash equivalents

(g)

Cash and cash equivalents

Readily convertible to known amounts of cash throughout the maturity period;

ii)

So near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

Short-term deposits

(h)

Short-term deposits

Accounts receivable, net

(i)

Accounts receivable, net

Equity investment

(j)

Equity investment

Cost investment

(k)

Cost investment

Property and equipment

(l)

Property and equipment

	Estimated useful lives	Residual rate
Servers, computers and equipment	3 years	0%-5%
Furniture, fixture and office equipment	5 years	0%-5%
Motor vehicles	4 years	5%
Leasehold improvement	Shorter of lease term or 5 years	-

Business combinations

(m)

Business combinations

Intangible assets, net

(n)

Intangible assets, net

		Estimated useful lives

Software		3 -5 years
Technology		5 years
Domain names		15 years
Operating rights for licensed games		Shorter of the economic life or license period of relevant online game
Brand names		1-15 years

Impairment of long-lived assets and intangible assets

(o)

Impairment of long-lived assets

Goodwill

(p)

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.

Annual test for impairment of goodwill

(q)

Annual test for impairment of goodwill

No goodwill impairment losses were recognized for the years ended December 31, 2012, 2013 and 2014.

Operating leases

(r)

Operating leases

Convertible bonds

(s)

Convertible bonds

Revenue recognition

(t)

Revenue recognition

(i)

Internet value-added services

(1) Online music and entertainment revenue

(2) Online games revenue

- Non-exclusive third party developed games

- Exclusive third party developed games

- Self-developed games

(3) Other IVAS revenue

Transactions with third party advertising agencies

•

Price is fixed or determinable—price charged to the advertising agencies are specified in the agreements, including relevant discount and rebate rates

•

Services are rendered—the Group recognizes revenue ratably as the element are delivered over the contract period of display

•

Transactions with advertisers

Advances from customers and deferred revenue

(u)

Advances from customers and deferred revenue

Cost of revenues

(v)

Cost of revenues

The Group is subject to surcharges of business taxes and VAT, which are calculated based on 12% of the business taxes and VAT payable for the years ended December 31, 2012, 2013 and 2014.

The Group reported business taxes and surcharges, and cultural development fees in cost of revenues.

Research and development expenses

(w)

Research and development expenses

Sales and marketing expenses

(x)

Sales and marketing expenses

General and administrative expenses

(y)

General and administrative expenses

Employee social security and welfare benefits

(z)

Employee social security and welfare benefits

Share-based compensation

(aa)

Share-based compensation

Following the listing of the Company, the grant date fair value of share-based awards is based on stock price of the Company in the NASDAQ Global Market.

Other income

(bb)

Other income

Income taxes

(cc)

Income taxes

Uncertain tax positions

Statutory reserves

(dd)

Statutory reserves

The Group's subsidiaries, VIEs and VIE's subsidiaries established in the PRC are required to make appropriations to certain non-distributable reserve funds.

Related parties

(ee)

Related parties

Dividends

(ff)

Dividends

Income per share

(gg)

Income per share

Comprehensive income

(hh)

Comprehensive income

Segment reporting

(ii)

Segment reporting

Recently issued accounting pronouncements

(jj)

Recently issued accounting pronouncements

Organization and principal activities (Tables)

12 Months Ended

Dec. 31, 2014

Organization and principal activities [Abstract]

Schedule of details of the subsidiaries, VIEs and VIE's subsidiaries

Name	Place of incorporation	Date of incorporation or acquisition	% of direct or indirect economic ownership			Principal activities

Subsidiaries

Duowan Entertainment Corporation (“Duowan BVI”)	BVI	November 6, 2007		100	%	Investment holding

NeoTasks Inc. (“NeoTasks”)	Cayman Islands	April 26, 2006		100	%	Investment holding

NeoTasks Limited	Hong Kong	June 16, 2005		100	%	Investment holding

Huanju Shidai Technology (Beijing) Co., Ltd. (“Beijing Huanju Shidai” or “Duowan Entertainment”)	PRC	March 19, 2008		100	%	Investment holding

Zhuhai Duowan Information Technology Co., Ltd. (“Zhuhai Duowan” or “Guangzhou Duowan”)	PRC	April 9, 2007		100	%	Online advertising and software development

Guangzhou Huanju Shidai Information Technology Co., Ltd. (“Guangzhou Huanju Shidai”)	PRC	December 2, 2010		100	%	Software development

Zhuhai Huanju Shidai Information Technology Co., Ltd. (“Zhuhai Huanju Shidai”)	PRC	November 14, 2013		100	%	Software development

Variable Interest Entities (“VIEs”)

Guangzhou Huaduo Network Technology Co., Ltd. (“Guangzhou Huaduo”)	PRC	April 11, 2005		100	%	Holder of internet content provider licenses and internet value added services

Beijing Tuda Science and Technology Co., Ltd. (“Beijing Tuda”)	PRC	June 2, 2005		100	%	Holder of internet content provider licenses

VIE's subsidiaries

Guangzhou Juhui Information Technology Co., Ltd.	PRC	October 24, 2013		100	%	Software development

Guangzhou Huanju Media Co., Ltd. (“Guangzhou Huanju Media”)	PRC	April 1, 2014		100	%	Artists management

Guangzhou Zhuque Information Technology Co., Ltd. (“Zhuque”)	PRC	September 18, 2014		100	%	Online games development

Zhengrenqiang and His Partners Education Technology (Beijing) Co., Ltd. (“Zhengrenqiang”)	PRC	December 2, 2014		100	%	Online education

Beijing DuBooker Culture Communication Co., Ltd. (“DuBooker")	PRC	December 2, 2014		100	%	Publishing of teaching materials

Beijing Huanqiu Xingxue Technology Development Co., Ltd (“Xingxue”)	PRC	December 23, 2014		100	%	Online education

Beijing Huanqiu Chuangzhi Software Co., Ltd (“Chuangzhi”)	PRC	December 23, 2014		100	%	Software development

Principal accounting policies (Tables)

12 Months Ended

Dec. 31, 2014

Principal accounting policies [Abstract]

Schedule of property and equipment estimated useful lives and residual rate

	Estimated useful lives	Residual rate
Servers, computers and equipment	3 years	0%-5%
Furniture, fixture and office equipment	5 years	0%-5%
Motor vehicles	4 years	5%
Leasehold improvement	Shorter of lease term or 5 years	-

Schedule of amortization of finite-lived intangible assets is computed using the straight-line method over the following estimated useful lives

		Estimated useful lives

Software		3 -5 years
Technology		5 years
Domain names		15 years
Operating rights for licensed games		Shorter of the economic life or license period of relevant online game
Brand names		1-15 years

Certain risks and concentration (Tables)

12 Months Ended

Dec. 31, 2014

Certain risks and concentration [Abstract]

Schedule of consolidated financial information of the Group's VIEs and VIE's subsidiaries excluding the inter company items with the Group's subsidiaries included in the accompanying consolidated financial statements

	December 31,
	2013		2014
	RMB		RMB
Assets
Current assets
Cash and cash equivalents		575,262		305,405
Short-term deposits		594,000		1,002,020
Restricted short-term deposits		-		100,000
Accounts receivable, net		48,329		243,529
Inventory		-		1,445
Amount due from related parties		73		43,816
Prepayments and other current assets		29,753		113,939
Deferred tax assets		51,631		85,004
Total current assets		1,299,048		1,895,158

Non-current assets
Deferred tax assets		383		1,392
Investments		33,920		63,220
Property and equipment, net		100,059		227,372
Intangible assets, net		9,717		133,888
Goodwill		-		298,802
Other non-current assets		-		31,520
Total non-current assets		144,079		756,194

Total assets		1,443,127		2,651,352

	December 31,
	2013		2014
	RMB		RMB

Liabilities
Current liabilities
Accounts payable		55,818		101,160
Deferred revenue		292,380		354,987
Advances from customers		10,656		25,897
Income taxes payable		47,974		65,162
Accrued liabilities and other current liabilities		197,851		357,464
Amounts due to related parties		2,640		30,892

Total current liabilities		607,319		935,562

Non-current liabilities
Long-term payable		-		183,000
Deferred revenue		8,457		24,383
Deferred tax liabilities		-		26,709

Total non-current liabilities		8,457		234,092

Total liabilities		615,776		1,169,654

	For the year ended December 31,
	2012		2013		2014
	RMB		RMB		RMB

Net revenues		702,929		1,669,852		3,543,994
Net income		80,071		486,095		1,136,570

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

Net cash provided by operating activities		322,378			845,198			1,313,521
Net cash used in investing activities		(152,197	)		(592,390	)		(994,574	)
		170,181			252,808			318,947

Summary of the percentage of accounts receivable from collection agencies, sub-licensed platforms and advertising customers with over 10% of total accounts receivable

	December 31,
		2013			2014
		RMB			RMB
Collection agencies and advertising customers
B1			*			57	%
B2			11	%		*
B3			25	%		*
B4			12	%		*

*	Less than 10%

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References+ Details

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References+ Details

Business combination (Tables)

12 Months Ended

Dec. 31, 2014

Internet service company [Member]

Business combination [Line Items]

Schedule of allocation of the purchase price at the date of acquisition

	RMB

Property and equipment		128
Intangible assets
- Technology		10,035
- Software		660
Goodwill		899

Total		11,722

Zhengrenqiang and DuBooker [Member]

Business combination [Line Items]

Schedule of allocation of the purchase price at the date of acquisition

	RMB

Cash consideration		60,000
Contingent consideration		183,000
Total consideration		243,000

Net assets acquired		1,882
Identifiable intangible assets acquired
- Brand names		42,000
- Others		18,300
Goodwill		195,893
Deferred tax liabilities		(15,075	)
Total		243,000

Xingxue and Chuangzhi [Member]

Business combination [Line Items]

Schedule of allocation of the purchase price at the date of acquisition

	RMB

Net liabilities assumed		(8,549	)
Identifiable intangible assets acquired
- Brand names		43,620
- Other		4,792
Goodwill		100,382
Deferred tax liabilities		(12,103	)
Total		128,142

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2014

Accounts receivable, net [Abstract]

Schedule of accounts receivable, net

	December 31,
	2013			2014
	RMB			RMB

Accounts receivable, gross		131,315			314,778
Less: allowance for doubtful receivables		(31,214	)		(57,342	)

Accounts receivable, net		100,101			257,436

Summary of allowance for doubtful accounts

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

Balance at beginning of the year		-			(5,716	)		(31,214	)
Additions charged to general and administrative expenses		(6,884	)		(31,987	)		(26,246	)
Write-off during the year		1,168			6,489			118

Balance at end of the year		(5,716	)		(31,214	)		(57,342	)

Prepayments and other current assets (Table)

12 Months Ended

Dec. 31, 2014

Prepayments and other current assets [Abstract]

Schedule of prepayments and other current assets

	December 31,
	2013		2014
	RMB		RMB

Interests receivable		25,381		98,355
Prepayments and deposits to vendors and content providers		33,603		54,330
Loans receivable		-		34,502
Others		8,549		16,952

Total		67,533		204,139

Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Schedule of investments

	December 31
	2013		2014
	RMB		RMB

Cost investments (i)(ii)(iii)(iv)(v)		47,110		153,024
Equity investments		14,919		33,630

Total		62,029		186,654

(i)

(ii)

(iii)

(iv)

(v)	In addition to the above, the Group also made several cost investments in 2014. Save as disclosed above, none of these investments are, individually or in aggregate, material to the Group's financial statements.

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2014

Property and equipment, net [Abstract]

Schedule of property and equipment

	December 31,
	2013			2014
	RMB			RMB

Gross carrying amount
Servers, computers and equipment		152,404			304,117
Leasehold improvement		23,257			32,392
Furniture, fixture and office equipment		9,672			13,879
Motor vehicles		5,186			10,815
Construction in progress		4,652			31,786

Total		195,171			392,989
Less: accumulated depreciation		(92,535	)		(158,761	)

Property and equipment, net		102,636			234,228

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2014

Intangible assets, net [Abstract]

Summary of Group's intangible assets

	December 31
	2013			2014
	RMB			RMB

Gross carrying amount
Software		5,477			17,304
Technology		17,121			17,145
Domain names		17,286			24,686
Brand names		-			94,120
Operating rights for licensed games		-			11,721
Others		-			18,300

Total of gross carrying amount		39,884			183,276

Less: accumulated amortization
Software		(3,209	)		(5,944	)
Technology		(4,054	)		(6,035	)
Domain names		(2,944	)		(4,278	)
Brand names		-			(1,728	)
Operating rights for licensed games		-			(4,249	)
Others		-			(774	)

Total accumulated amortization		(10,207	)		(23,008	)

Less: impairment
Software		(550	)		(6,234	)

Intangible assets, net		29,127			154,034

Schedule of estimated amortization expenses

	Amortization expense
	of intangible assets

2015		31,190
2016		19,874
2017		17,105
2018		14,544
2019		12,844

Schedule of weighted average amortization periods of intangible assets

	December 31,
	2013	2014

Domain names	15 years	15 years
Technology	5 years	5 years
Software	3 years	4 years
Brand names	-	11 years
Operating rights for licensed games	-	2 years
Others	-	4 years

Deferred revenue (Tables)

12 Months Ended

Dec. 31, 2014

Deferred revenue [Abstract]

Schedule of deferred revenue

	December 31,
	2013		2014
	RMB		RMB

Deferred revenue, current:
IVAS revenues		292,184		354,454
Government grants		1,682		1,696
Total current deferred revenue		293,866		356,150

Deferred revenue, non-current:
IVAS revenues		8,457		23,850
Government grants		968		533
Total non-current deferred revenue		9,425		24,383

Income tax (Tables)

12 Months Ended

Dec. 31, 2014

Income tax [Abstract]

Schedule of the current and deferred portions of income tax expense included in the consolidated statements of operations

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

Current income tax expenses		(48,357	)		(125,365	)		(200,034	)
Deferred income tax benefits		19,316			35,414			45,751
Income tax expense for the year		(29,041	)		(89,951	)		(154,283	)

Schedule of the reconciliation of total tax expense computed by applying the respective statutory income tax rate to pre-tax income

	For the year ended December 31,
	2012			2013			2014
	RMB			RMB			RMB

PRC Statutory income tax rate		(25.0	)%		(25.0	)%		(25.0	)%
Effect of preferential tax rate		10.4	%		10.5	%		13.1	%
Effect of tax-exempt entities		0.2	%		2.2	%		1.1	%
Permanent differences (i)		(13.9	)%		(4.0	)%		(3.5	)%
Change in valuation allowance		(2.0	)%		(3.0	)%		(0.4	)%
Effect of Super Deduction available to the Group		5.7	%		3.4	%		2.0	%
Effective income tax rate		(24.6	)%		(15.9	)%		(12.7	)%

(i)	Permanent differences mainly arise from expenses not deductible for tax purposes including primarily share-based compensation costs and expenses incurred by subsidiaries and VIEs.

Schedule of the tax effects of temporary differences that give rise to the deferred tax asset balances

	December 31,
	2013			2014
	RMB			RMB

Deferred tax assets, current:
Deferred revenue		32,905			37,796
Allowance for doubtful accounts receivable, accrued expense and others not currently deductible for tax purposes		39,791			82,957
Valuation allowance (i)		(5,775	)		(9,317	)
Total current deferred tax assets, net		66,921			111,436

Deferred tax assets, non-current:
Tax loss carried forward		16,400			14,654
Deferred revenue		445			343
Impairment of investment		180			798
Others		-			705
Valuation allowance (i)		(16,400	)		(15,108	)
Total non-current deferred tax assets, net		625			1,392

Deferred tax liabilities, non-current:
Related to acquired intangible assets		-			26,709

(i)

Schedule of the net operating tax loss carry forwards

	Amount
	RMB

2015		-
2016		2,574
2017		685
2018		25,428
2019		29,928
Total		58,615

Convertible redeemable preferred shares (Tables)

12 Months Ended

Dec. 31, 2014

Convertible redeemable preferred shares [Abstract]

Schedule of preferred shares

Series	Issuance Date	Shares Issued and Outstanding		Issue Price Per Share (US$)		Proceeds from Issuance, Net of Issuance Costs (US$)		Carrying Amount (RMB)
A	December 1, 2006		54,488,000		0.0184		1,000		374,332
A	June 2, 2008		81,612,930		0.0245		1,975		560,681
B	August 8, 2008		102,073,860		0.0490		4,959		703,901
C-1	November 22, 2009		16,249,870		0.0800		1,300		112,556
C-2	November 22, 2009		104,999,650		0.1000		10,460		729,464

Schedule of changes of each of the convertible redeemable preferred shares

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Beginning balance		935,013			-		-
Decretion to redemption value		(485,517	)		-		-
Conversion of convertible redeemable preferred shares into Class B common shares		(449,496	)		-		-
Ending balance		-			-		-

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Beginning balance		703,901			-		-
Decretion to redemption value		(366,785	)		-		-
Conversion of convertible redeemable preferred shares into Class B common shares		(337,116	)		-		-
Ending balance		-			-		-

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Beginning balance		842,020			-		-
Decretion to redeemable value		(441,573	)		-		-
Conversion of convertible redeemable preferred shares into Class B common shares		(400,447	)		-		-
Ending balance		-			-		-

Schedule of assumptions in the Discounted Cash Flow Method

	December 31, 2011

Risk-free interest rate		2.53	%
Volatility		66.1	%
Dividend yield		-
Discount rate		16	%

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References+ Details

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2014

Share-based compensation [Line Items]

Summary of the restricted shares activity

	Number of restricted shares			Weighted average grant-date fair value (US$)

Outstanding, January 1, 2012		43,285,101			0.4885
Forfeited		(3,673,580	)		0.4945
Vested		(21,380,720	)		0.4864

Outstanding, December 31, 2012		18,230,801			0.4898
Forfeited		(1,581,789	)		0.8726
Vested		(11,975,287	)		0.3906

Outstanding, December 31, 2013		4,673,725			0.6144
Forfeited		(159,410	)		0.9362
Vested		(4,514,315	)		0.6030

Outstanding, December 31, 2014		-

Expected to vest at December 31, 2014		-

Summary of the restricted share units activity

	Number of restricted shares			Weighted average grant-date fair value (US$)

Outstanding, January 1, 2012		8,996,300			1.0630
Granted		18,295,221			1.0324
Forfeited		(595,900	)		1.0876

Outstanding, December 31, 2012		26,695,621			1.0415
Granted		29,965,989			0.9338
Forfeited		(3,522,992	)		1.0699
Vested		(8,836,018	)		1.0429

Outstanding, December 31, 2013		44,302,600			0.9639

Granted		9,912,595			3.5805
Forfeited		(3,125,430	)		1.1859
Vested		(12,283,670	)		1.0144

Outstanding, December 31, 2014		38,806,095			1.5984

Expected to vest at December 31, 2014		36,892,103			1.5647

CEO and Chairman [Member]

Share-based compensation [Line Items]

Summary of the restricted shares activity

	Number of restricted shares			Weighted average grant-date fair value (US$)

Outstanding, January 1, 2012		29,678,483			0.1875
Vested		(29,678,483	)		0.1875

Outstanding, December 31, 2012, 2013 and 2014		-

Pre-2009 Scheme Options [Member]

Share-based compensation [Line Items]

Summary of the activities of the Pre-2009 Scheme Options for employees and non-employee

	Number of options			Weighted average exercise price (US$)		Weighted average remaining contractual life (years)		Aggregate intrinsic value (US$)

Outstanding, January 1, 2012		17,889,535			0.0055		6.37		19,366
Forfeited		(19,110	)		0.0067		6.25

Outstanding, December 31, 2012		17,870,425			0.0055		5.37		12,642
Exercised		(4,648,420	)		0.0045		4.30

Outstanding, December 31, 2013		13,222,005			0.0059		4.40		33,162
Exercised		(5,841,660	)		0.0057		3.24

Outstanding, vested and exercisable, December 31, 2014		7,380,345			0.0061		3.52		22,959

Basic and diluted net income per share (Tables)

12 Months Ended

Dec. 31, 2014

Basic and diluted net income per share [Abstract]

Schedule of calculation of basic and diluted net (loss) income per share

	For the year ended December 31,
	2012			2013		2014
	RMB			RMB		RMB

Numerator:
Net income attributable to the Company		89,177			477,727		1,064,472
Decretion to convertible redeemable preferred shares redemption value		1,293,875			-		-
Allocation of net income to participating preferred shareholders		(478,754	)		-		-

Numerator of basic net income per share		904,298			477,727		1,064,472
Dilutive effect of preferred shares		(815,121	)		-		-
Numerator for diluted income per share		89,177			477,727		1,064,472

Denominator:
Denominator for basic calculation—weighted average number of Class A and Class B common shares outstanding		604,703,810			1,122,475,688		1,153,140,699
Dilutive effect of preferred shares		320,142,965			-		-
Dilutive effect of share options		17,782,885			16,362,048		10,372,442
Dilutive effect of restricted shares		30,594,877			14,400,670		2,604,789
Dilutive effect of restricted share units		4,802,491			27,882,891		32,425,543
Dilutive effect of share-based awards granted to CEO and Chairman		14,441,808			-		-
Denominator for diluted calculation		992,468,836			1,181,121,297		1,198,543,473

Basic net income per Class A and Class B common share		1.50			0.43		0.92
Diluted net income per Class A and Class B common share		0.09			0.40		0.89
Basic net income per ADS*		29.91			8.51		18.46
Diluted net income per ADS*		1.80			8.09		17.76

Related party transactions (Tables)

12 Months Ended

Dec. 31, 2014

Related Party		Relationship with the Group

Zhuhai Daren Computer Technology Co., Ltd. (“Zhuhai Daren”)		Equity investment
Guangzhou Shanghang Information Technical Co., Ltd. (“Shanghang”)		Significant influence exercised by the Chairman
Kingsoft Corporation (“Kingsoft”)		Significant influence exercised by the Chairman
Xiaomi Corporation (“Xiaomi”)		Significant influence exercised by the Chairman
Zhuhai Lequ Technology Co., Ltd. (“Zhuhai Lequ”)		Equity investment
Agora, Inc.⁽¹⁾		Controlled by the director and the chairman of technology committee of the Group
Guangzhou Kuyou Information Technology Co., Ltd.(“Guangzhou Kuyou”) ⁽²⁾		Equity investment
Shenzhen Qingdou Network Technology Co., Ltd.(“Shenzhen Qingdou”)		Cost investment with significant influence
Guangzhou Muyou Network Technology Co., Ltd.(“Guangzhou Muyou”)		Cost investment with significant influence
Bigo ⁽³⁾		Controlled by the CEO
Chengdu Xishanju Entertainment Technology Co., Ltd. (“Xishanju”)		Significant influence exercised by the Chairman

(1)

(2)

In March 2014, the Group made a further capital injection of RMB15 million to Guangzhou Kuyou and owned 20% of the equity interests in the company.

(3)

Schedule of significant related party transactions

	For the year ended December 31,
	2012		2013		2014
	RMB		RMB		RMB

Payment on behalf of Bigo		-		-		61,000
Bandwidth service provided by Shanghang		11,776		21,272		42,470
Online games revenue shared from Guangzhou Kuyou		-		-		37,001
Online games revenue shared from Zhuhai Daren		7,547		24,452		25,597
Purchase of operating rights for licensed games from Guangzhou Kuyou		-		-		6,836
Online games revenue shared from Zhuhai Lequ		-		5,076		2,631
Disposal of an equity investment to Xishanju		-		-		1,563
Interest-free loan to Shenzhen Qingdou		-		-		1,000
Repayment of interest-free loan from Shenzhen Qingdou		-		-		1,000
Interest-free loan to Guangzhou Muyou		-		-		500
Repayment of interest-free loan from Guangzhou Muyou		-		-		500
Online games revenue shared from Xishanju		-		-		18
Purchase of intangible assets from Kingsoft		-		6,010		-
Advertising revenue from Xiaomi		-		1,154		-
Repayment of interest-free loan from Zhuhai Lequ		500		1,000		-
Membership subscription fee revenue from Xiaomi		227		-		-
Repayment of interest-free loan from Zhuhai Daren		2,000		-		-
Interest-free loan to Zhuhai Lequ		1,200		-		-
Disposal of a cost investment to the Chairman and Co-founder, who is also a director of the Company		1,000		-		-
Disposal of an equity investment to Xiaomi		2,000		-		-

Schedule of the amounts due from/to related parties

	December 31,
	2013		2014
	RMB		RMB

Amounts due from related parties
Other receivables from Bigo (*)		-		61,000
Other receivables from Zhuhai Lequ		73		73

Total		73		61,073

Amounts due to related parties
Accounts payable to Guangzhou Kuyou		-		24,454
Accounts payable to Zhuhai Daren		1,479		2,020
Other payables to Shanghang		822		4,342
Accounts payable to Zhuhai Lequ		339		41
Accounts payable to Xishanju		-		35

Total		2,640		30,892

*	As of the date of this report, other receivables from Bigo amounting to RMB61,000 were fully repaid by Bigo.

Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair value measurements [Abstract]

Summary of liabilities measured at fair value on recurring basis

As of December 31, 2014

Level 1

Level 2

Level 3

Total

Liabilities

Long-term payable:

Contingent consideration in relation to a business acquisition

183,000

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References+ Details

Organization and principal activities (Narrative) (Details) In Thousands, except Share data, unless otherwise specified	0 Months Ended	12 Months Ended				0 Months Ended		12 Months Ended			0 Months Ended		12 Months Ended		12 Months Ended
	Sep. 06, 2011	Dec. 31, 2014 USD ($) entity	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Nov. 21, 2012 Common shares [Member]	Nov. 21, 2012 Class A common shares [Member]	Dec. 31, 2014 Class A common shares [Member]	Dec. 31, 2013 Class A common shares [Member]	Dec. 31, 2012 Class A common shares [Member] Common shares [Member]	Nov. 21, 2012 ADSs [Member] USD ($)	Nov. 21, 2012 Preferred Shares [Member]	Dec. 31, 2014 Beijing Tuda [Member]	Dec. 31, 2010 Duowan BVI [Member] Zhuhai Duowan Technology [Member]	Dec. 31, 2014 Beijing Huanju Shidai or Duowan Entertainment [Member] Guangzhou Huaduo [Member] Exclusive Technology Support and Technology Services Agreement [Member]	Dec. 31, 2014 Beijing Huanju Shidai or Duowan Entertainment [Member] Guangzhou Huaduo [Member] Exclusive Business Cooperation Agreement [Member]	Dec. 31, 2014 Beijing Huanju Shidai or Duowan Entertainment [Member] Guangzhou Huaduo [Member] Exclusive Option Agreement [Member]	Dec. 31, 2014 Beijing Huanju Shidai or Duowan Entertainment [Member] Beijing Tuda [Member] Exclusive Technology Support and Technology Services Agreement [Member]	Dec. 31, 2014 Beijing Huanju Shidai or Duowan Entertainment [Member] Beijing Tuda [Member] Exclusive Business Cooperation Agreement [Member]	Dec. 31, 2014 Beijing Huanju Shidai or Duowan Entertainment [Member] Beijing Tuda [Member] Exclusive Option Agreement [Member]
Organization and principal activities [Line Items]
Equity interest owned (as a percent)														100.00%
Equity interest owned (as a percent)													100.00%
Number of shares issued in exchange for each share held by all existing shareholders of Duowan BVI pursuant to a share swap agreement	1
Number of VIEs considered as primary beneficiary		2	2
Number of ADS issued and sold in IPO (in shares)							179,400,000	25,036,140	21,256,900	179,400,000	8,970,000
Number of common shares represented by each ADS							20	20	20
Net proceeds received from IPO, after deducting commissions and offering expenses					550,555						$ 82,055
Number of shares converted into Class B common shares						548,408,914						359,424,310
Period of prior written notice required to terminate the agreement															30 days	30 days		30 days	30 days
Term of agreement																	10 years			10 years
Total assets of the consolidated VIEs and VIE's subsidiaries			2,651,352
Total liabilities of the consolidated VIEs and VIE's subsidiaries			1,169,654
Registered capital and PRC statutory reserves of the VIEs and VIE's subsidiaries			292,827

Organization and principal activities (Schedule of Details of Subsidiaries, VIEs and VIE's Subsidiary) (Details)	12 Months Ended
	Dec. 31, 2014
Guangzhou Juhui Information Technology Co., Ltd. [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Guangzhou Huanju Media [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Zhuque [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Zhengrenqiang [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
DuBooker [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Xingxue [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Chuangzhi [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Guangzhou Huaduo [Member] \| Guangzhou Juhui Information Technology Co., Ltd. [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Beijing Tuda [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Duowan BVI [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
NeoTasks [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
NeoTasks Limited [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Beijing Huanju Shidai or Duowan Entertainment [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Zhuhai Duowan or Guangzhou Duowan [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Guangzhou Huanju Shidai [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%
Zhuhai Huanju Shidai [Member]
Subsidiaries, VIEs and VIE's subsidiary [Line Items]
% of direct or indirect economic ownership	100.00%

Principal accounting policies (Schedule of Property and Equipment Estimated Useful Lives and Residual Rate) (Details)	12 Months Ended
	Dec. 31, 2014
Servers, computers and equipment [Member]
Property and equipment [Line Items]
Estimated useful lives	3 years
Servers, computers and equipment [Member] \| Minimum [Member]
Property and equipment [Line Items]
Residual rate (as a percent)	0.00%
Servers, computers and equipment [Member] \| Maximum [Member]
Property and equipment [Line Items]
Residual rate (as a percent)	5.00%
Furniture, fixture and office equipment [Member]
Property and equipment [Line Items]
Estimated useful lives	5 years
Furniture, fixture and office equipment [Member] \| Minimum [Member]
Property and equipment [Line Items]
Residual rate (as a percent)	0.00%
Furniture, fixture and office equipment [Member] \| Maximum [Member]
Property and equipment [Line Items]
Residual rate (as a percent)	5.00%
Motor vehicles [Member]
Property and equipment [Line Items]
Estimated useful lives	4 years
Residual rate (as a percent)	5.00%
Leasehold improvement [Member]
Property and equipment [Line Items]
Residual rate (as a percent)
Leasehold improvement [Member] \| Maximum [Member]
Property and equipment [Line Items]
Estimated useful lives	5 years

Principal accounting policies (Schedule of Amortization of Finite-lived Intangible Assets is Computed Using Straight-line Method Over Following Estimated Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Software [Member]
Intangible assets, net [Line Items]
Estimated useful lives	4 years	3 years
Software [Member] \| Minimum [Member]
Intangible assets, net [Line Items]
Estimated useful lives	3 years
Software [Member] \| Maximum [Member]
Intangible assets, net [Line Items]
Estimated useful lives	5 years
Technology [Member]
Intangible assets, net [Line Items]
Estimated useful lives	5 years
Domain names [Member]
Intangible assets, net [Line Items]
Estimated useful lives	15 years	15 years
Brand names [Member]
Intangible assets, net [Line Items]
Estimated useful lives	11 years
Brand names [Member] \| Minimum [Member]
Intangible assets, net [Line Items]
Estimated useful lives	1 year
Brand names [Member] \| Maximum [Member]
Intangible assets, net [Line Items]
Estimated useful lives	15 years

Principal accounting policies (Revenue Recognition and Cost of Revenues - Narrative) (Details) (CNY) In Thousands, unless otherwise specified	4 Months Ended	12 Months Ended					5 Months Ended	12 Months Ended		0 Months Ended	12 Months Ended				0 Months Ended		10 Months Ended	12 Months Ended
	Dec. 31, 2012 item	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Minimum [Member]	Dec. 31, 2014 Maximum [Member]	May 31, 2014 IVAS revenue [Member]	Dec. 31, 2013 IVAS revenue [Member]	Dec. 31, 2012 IVAS revenue [Member]	Dec. 01, 2012 Online games revenue [Member]	Dec. 31, 2014 Third party developed online games [Member] item	Dec. 31, 2014 Third party developed online games [Member] Minimum [Member]	Dec. 31, 2014 Third party developed online games [Member] Maximum [Member]	Dec. 31, 2014 Online music and entertainment revenue [Member] item	Jun. 01, 2014 Other IVAS Revenue [Member]	Nov. 01, 2012 Advertising revenues [Member]	Dec. 31, 2012 Advertising revenues [Member]	Dec. 31, 2011 Advertising revenues [Member]	Dec. 31, 2014 Advertising revenues [Member] Minimum [Member]	Dec. 31, 2014 Advertising revenues [Member] Maximum [Member]
Annual test for impairment of goodwill
Goodwill impairment losses		0	0	0
Revenue recognition [Line Items]
Maximum period over which each virtual item is made available to the user														1 year
Number of arrangements into which virtual items may be sold individually or bundled														1
Number of types of third party developed online games											2
Period of revenue-sharing contracts												1 year	2 years
Estimated user relationship period												1 month	6 months
Advertising revenues contract term																			1 month	3 months
Period over which payments are due																				6 months
Cost of revenues
Tax rate on service income from provision of advertising services in the PRC (as a percent)		3.00%
Number of other cities and provinces in PRC to which the Pilot Program was expanded	8
VAT (as a percent)					6.00%	17.00%				6.00%					6.00%	6.00%
Business taxes prior to the Pilot Program's being applied (as a percent)							3.00%	3.00%	3.00%								5.00%	5.00%
Surcharges on business taxes and VAT (as a percent)		12.00%	12.00%	12.00%

Principal accounting policies (Sales and Marketing Expenses, Share-based Compensation, Statutory Reserves, Dividends and Segment Reporting - Narrative) (Details) (CNY) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 item	Dec. 31, 2013	Dec. 31, 2012
Sales and marketing expenses
Advertising and market promotion expenses	76,192	8,054	5,534
Employee social security and welfare benefits
Employee social security and welfare benefits	115,012	68,334	39,660
Statutory reserves [Line Item]
Minimum percentage appropriation to general reserve fund required	10.00%
Reserve level threshold for mandatory appropriation requirement (as a percent)	50.00%
Minimum percentage appropriation to statutory surplus fund required	10.00%
Surplus fund threshold for mandatory appropriation requirement (as a percent)	50.00%
Amount appropriated to statutory reserves
Dividends
Dividends declared	0	0	0
Segment reporting
Number of operating segments	1
Number of geographical segments	0
Statutory reserves [Member]
Statutory reserves [Line Item]
Amount appropriated to statutory reserves	15,812	40,657

Certain risks and concentration (Narrative) (Details) (CNY) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 item	Dec. 31, 2014 Minimum [Member]	Dec. 31, 2014 Maximum [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] Guangzhou Huanju Shidai and Beijing Huanju Shidai [Member]	Dec. 31, 2013 Guangzhou Huaduo [Member] Guangzhou Huanju Shidai and Beijing Huanju Shidai [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] Beijing Tuda [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] Mr. David Xueling Li, CEO [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] Mr. Jun Lei, Chairman of the Company [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] Mr. Tony Bin Zhao, Director and Chairman of Technology Committee [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] Mr. Jin Cao, Executive Vice President [Member]	Dec. 31, 2014 Beijing Tuda [Member]	Dec. 31, 2014 Beijing Tuda [Member] Mr. David Xueling Li, CEO [Member]	Dec. 31, 2014 Beijing Tuda [Member] Mr. Tony Bin Zhao, Director and Chairman of Technology Committee [Member]	Dec. 31, 2014 Beijing Tuda [Member] Mr. Jin Cao, Executive Vice President [Member]	Dec. 31, 2014 Beijing Tuda and Guangzhou Huaduo [Member] Beijing Huanju Shidai [Member]	Dec. 31, 2012 Beijing Tuda and Guangzhou Huaduo [Member] WOFEs [Member]	Dec. 31, 2014 Accounts receivable [Member] Credit concentration [Member] Top 10 accounts receivable [Member] item	Dec. 31, 2013 Accounts receivable [Member] Credit concentration [Member] Top 10 accounts receivable [Member] item
Certain risks and concentration [Line Items]
Maximum foreign ownership in internet information provider or other value-added telecommunication service provider's business allowed under PRC laws and regulations	50.00%
Number of VIEs through which the group operates online business	2
Equity interests ownership (as a percent)						99.00%	0.50%	0.44%	0.04%	0.02%	100.00%	97.70%	1.50%	0.80%
Term of contractual agreements		10 years	30 years
Maximum percentage of the income of VIEs which may be charged as service fees															100.00%
Maximum percentage of the profits payable by VIEs															100.00%
Number of VIEs or their shareholders entitled to terminate the contracts prior to the expiration date	0
Service fees				363,117	31,153											0
Number of top accounts receivable																	10	10
Concentration percentage																	83.00%	87.00%

Certain risks and concentration (Schedule of Consolidated Financial Information of Group's VIEs and VIE's Subsidiary Excluding Inter Company Items With Group's Subsidiaries Included in Accompanying Consolidated Financial Statements) (Details) In Thousands, unless otherwise specified	12 Months Ended						12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2013 USD ($)	Dec. 31, 2011 CNY	Dec. 31, 2014 Variable interest entity [Member] CNY	Dec. 31, 2013 Variable interest entity [Member] CNY	Dec. 31, 2012 Variable interest entity [Member] CNY
Current assets
Cash and cash equivalents	$ 76,561	475,028	729,598	504,702	$ 117,590	128,891	305,405	575,262
Short-term deposits	679,266	4,214,576	1,432,863				1,002,020	594,000
Restricted short-term deposits	16,117	100,000					100,000
Accounts receivable, net	41,491	257,436	100,101				243,529	48,329
Inventory	233	1,445					1,445
Amount due from related parties	9,843	61,073	73				43,816	73
Prepayments and other current assets	32,901	204,139	67,533				113,939	29,753
Deferred tax assets	17,960	111,436	66,921				85,004	51,631
Total current assets	874,372	5,425,133	2,397,089				1,895,158	1,299,048
Non-current assets
Deferred tax assets	224	1,392	625				1,392	383
Investments	30,083	186,654	62,029				63,220	33,920
Property and equipment, net	37,751	234,228	102,636				227,372	100,059
Intangible assets, net	24,826	154,034	29,127				133,888	9,717
Goodwill	48,413	300,382	1,577	1,604			298,802
Other non-current assets	90,412	560,971	4,864				31,520
Total non-current assets	231,709	1,437,661	200,858				756,194	144,079
Total assets	1,106,081	6,862,794	2,597,947				2,651,352	1,443,127
Current liabilities
Accounts payable	16,363	101,525	56,391				101,160	55,818
Deferred revenue	57,401	356,150	293,866				354,987	292,380
Advances from customers	5,500	34,127	19,549				25,897	10,656
Income taxes payable	14,370	89,161	78,107				65,162	47,974
Accrued liabilities and other current liabilities	77,153	478,703	250,760				357,464	197,851
Amounts due to related parties	4,979	30,892	2,640				30,892	2,640
Total current liabilities	175,766	1,090,558	701,313				935,562	607,319
Non-current liabilities
Long-term payable	29,494	183,000					183,000
Deferred revenue	3,930	24,383	9,425				24,383	8,457
Deferred tax liabilities	4,305	26,709					26,709
Total non-current liabilities	432,272	2,682,072	9,425				234,092	8,457
Total liabilities	608,038	3,772,630	710,738				1,169,654	615,776
Net revenues	592,845	3,678,368	1,823,468	820,031			3,543,994	1,669,852	702,929
Net income	171,561	1,064,472	477,727	89,177			1,136,570	486,095	80,071
Net cash provided by operating activities	209,740	1,301,351	891,173	356,852			1,313,521	845,198	322,378
Net cash used in investing activities	(637,278)	(3,954,055)	(659,603)	(498,504)			(994,574)	(592,390)	(152,197)
Net increase (decrease) in cash and cash equivalents	$ (40,283)	(249,942)	225,883	381,088			318,947	252,808	170,181

Certain Risks And Concentration (Summary of Percentage of Accounts Receivable from Collection Agencies and Advertising Customers With Over 10% of Total Accounts Receivable) (Details) (Accounts receivable [Member], Credit concentration [Member])

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Collection agencies and advertising customers, B1 [Member]

Concentration of risks [Line Items]

Concentration percentage

57.00%

^[1]

Collection agencies and advertising customers, B2 [Member]

Concentration of risks [Line Items]

Concentration percentage

^[1]

11.00%

Collection agencies and advertising customers, B3 [Member]

Concentration of risks [Line Items]

Concentration percentage

^[1]

25.00%

Collection agencies and advertising customers, B4 [Member]

Concentration of risks [Line Items]

Concentration percentage

^[1]

12.00%

[1]	Less than 10%

Business combination (Narrative) (Details)					12 Months Ended						0 Months Ended	1 Months Ended							0 Months Ended
Business combination (Narrative) (Details)	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2014 Brand names [Member]	Dec. 31, 2013 Brand names [Member]	Dec. 31, 2014 Software [Member]	Dec. 31, 2013 Software [Member]	Dec. 31, 2014 Maximum Brand names [Member]	Dec. 31, 2014 Maximum Software [Member]	Mar. 12, 2012 Internet service company [Member] CNY	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] CNY	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] Brand names [Member]	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] Cooperation Agreements [Member]	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] Non-compete Agreements [Member]	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] Copyrights of teaching material [Member]	Dec. 31, 2014 Xingxue and Chuangzhi [Member]	Dec. 23, 2014 Xingxue and Chuangzhi [Member] CNY	Dec. 23, 2014 Xingxue and Chuangzhi [Member] Brand names [Member]	Dec. 23, 2014 Xingxue and Chuangzhi [Member] Software [Member]
Business combination [Line Items]
Cash consideration											11,722,000	60,000,000
Percentage of equity interests acquired												100.00%					100.00%	100.00%
Maximum undiscounted amounts the Company could have paid under the contingent consideration provisions of the agreement												240,000,000
Contingent consideration												183,000,000
Estimated useful lives					11 years		4 years	3 years	15 years	5 years			9 years	3 years	5 years	5 years			15 years	5 years
Goodwill	$ 48,413,000	300,382,000	1,577,000	1,604,000							899,000	195,893,000						100,382,000

Business combination (Schedule of Allocation of Purchase Price at Date of Acquisition) (Details) In Thousands, unless otherwise specified					0 Months Ended			1 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Mar. 12, 2012 Internet service company [Member] CNY	Mar. 12, 2012 Internet service company [Member] Technology [Member] CNY	Mar. 12, 2012 Internet service company [Member] Software [Member] CNY	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] CNY	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] Brand names [Member] CNY	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] Others [Member] CNY	Dec. 23, 2014 Xingxue and Chuangzhi [Member] CNY	Dec. 23, 2014 Xingxue and Chuangzhi [Member] Brand names [Member] CNY	Dec. 23, 2014 Xingxue and Chuangzhi [Member] Others [Member] CNY
Purchase price allocation
Cash consideration					11,722			60,000
Contingent consideration								183,000
Total consideration								243,000
Net assets acquired								1,882
Net liabilities assumed											(8,549)
Property and equipment					128
Identifiable intangible assets acquired						10,035	660		42,000	18,300		43,620	4,792
Goodwill	48,413	300,382	1,577	1,604	899			195,893			100,382
Deferred tax liabilities								(15,075)			(12,103)
Total					11,722			243,000			128,142

Cash and cash equivalents (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 USD ($)	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2011 CNY	Dec. 31, 2014 RMB [Member] CNY	Dec. 31, 2013 RMB [Member] CNY	Dec. 31, 2014 US$ [Member] USD ($)	Dec. 31, 2014 US$ [Member] CNY	Dec. 31, 2013 US$ [Member] USD ($)	Dec. 31, 2013 US$ [Member] CNY
Cash and cash equivalents [Line Items]
Cash and cash equivalents	$ 76,561	475,028	$ 117,590	729,598	504,702	128,891	394,214	715,316	$ 13,205	80,814	$ 2,342	14,282

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References+ Details

Short-term deposits (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2014 RMB [Member] CNY	Dec. 31, 2013 RMB [Member] CNY	Dec. 31, 2014 US$ [Member] USD ($)	Dec. 31, 2014 US$ [Member] CNY	Dec. 31, 2013 US$ [Member] USD ($)	Dec. 31, 2013 US$ [Member] CNY
Short-term deposits
Short-term deposits	$ 679,266	4,214,576	1,432,863	1,921,520	1,432,863	$ 374,685	2,293,056

Restricted short-term deposits (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY
Restricted short-term deposits [Abstract]
Restricted short-term deposits	$ 16,117	100,000

Accounts receivable, net (Details) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2014 USD ($)
Accounts receivable, net [Abstract]
Accounts receivable, gross	314,778	131,315
Less: allowance for doubtful receivables	(57,342)	(31,214)	(5,716)
Accounts receivable, net	257,436	100,101		41,491
Summary of allowance for doubtful accounts
Balance at beginning of the year	(31,214)	(5,716)
Additions charged to general and administrative expenses	(26,246)	(31,987)	(6,884)
Write-off during the year	118	6,489	1,168
Balance at end of the year	(57,342)	(31,214)	(5,716)

Prepayments and other current assets (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY
Prepayments and other current assets [Abstract]
Interests receivable		98,355	25,381
Prepayments and deposits to vendors and content providers		54,330	33,603
Loans receivable		34,502
Others		16,952	8,549
Total	$ 32,901	204,139	67,533

- Definition

An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money within one year from the balance sheet date (or the normal operating cycle, whichever is longer), net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale.

+ References+ Details

Investments (Schedule of Investments) (Details)
In Thousands, unless otherwise specified

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CNY

Dec. 31, 2013

CNY

Investments [Abstract]

Cost investments

153,024

^{[1],[2],[3],[4],[5]}

47,110

^{[1],[2],[3],[4],[5]}

Equity investments

33,630

14,919

Total

$ 30,083

186,654

62,029

[1]	In June 2013, the Group made an investment with an equity interest of 20% in a company with consideration of RMB15 million. The investment was not an investment in common stock or in-substance common stock and therefore was precluded from applying the equity method of accounting. It has been accounted for as an investment under cost method.
[2]	In 2013, the Group entered into agreements to acquire minority stake of preferred shares of two companies with total consideration of approximately RMB28 million. Given the fact that the Company cannot unilaterally demand redemption of both of the preferred stocks as the Group only owns less than or equal to 10% of the preferred stocks respectively, these investments have been accounted for as an investment in an equity security under cost method since both of the equity securities do not have a readily determinable fair value.
[3]	In 2014, the Group entered into agreements to acquire minority stake of preferred shares of three companies with total consideration of approximately RMB59 million. Given the fact that the Company cannot unilaterally demand redemption of all of the preferred stocks as the Company only owns less than or equal to 10% of the preferred stocks respectively, these investments have been accounted for as an investment in an equity security under cost method since all of the equity securities do not have a readily determinable fair value.
[4]	The Group has developed and launched a mobile application called Weihui in 2014. Users of this application can make telephone calls with other users free of charge. In October 2014, the Group entered into an agreement with its CEO to inject Weihui into Bigo Technology Pte Ltd.(“Bigo”), a company set up and controlled by the CEO. The Group and the CEO agreed that Weihui shall be priced at US$6 million (equivalent to RMB36,714). The board of directors of the Company has engaged two third party valuation firms in the evaluation of fair value of Weihui using both cost approach and market approach. In the opinion of the two third party valuation firms, the price of Weihui is fair and reasonable to the Group. As the cash contribution injected by the CEO and other investors into Bigo is US$15.6 million, the Group holds 27.78% and the CEO and other investors hold 72.22% of equity interests of Bigo, respectively. The shareholding percentage of the Group and the CEO and other investors are in proportionate to their capital injection. As part of the agreement, the Group is entitled to receive an amount equal to 100% of its original investment in the event of liquidation in preference to other common shareholders. As a result, the investment was not an investment in common stock or in-substance common stock and therefore was precluded from applying the equity method of accounting. It was accounted for the investment under the cost method. Considering that the substance of this transaction was that the Group transferred a group of assets that constitute a business to Bigo in exchange for a non-controlling interest in Bigo and the Group accounted for its investment over Bigo using the cost method, the entire difference between the fair value and carrying value of the assets given up was recognised in other non-operating income. As the carrying amount of Weihui on the Group's accounting book was zero, the non-operating income being recognised is RMB 36,714.
[5]	In addition to the above, the Group also made several cost investments in 2014. Save as disclosed above, none of these investments are, individually or in aggregate, material to the Group's financial statements.

Investments (Narrative) (Details)

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Oct. 31, 2014

item

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CNY

Dec. 31, 2013

CNY

Dec. 31, 2012

CNY

Jun. 30, 2013

Investment in an equity interest of company [Member]

CNY

Dec. 31, 2013

Investment in preferred shares of two companies [Member]

CNY

item

Dec. 31, 2014

Investment in preferred shares of company one [Member]

Dec. 31, 2014

Investment in preferred shares of company two [Member]

Dec. 31, 2014

Bigo [Member]

CNY

Dec. 31, 2014

Bigo [Member]

USD ($)

Oct. 31, 2014

Bigo [Member]

Oct. 31, 2014

Bigo [Member]

CEO [Member]

USD ($)

Oct. 31, 2014

Bigo [Member]

CEO [Member]

CNY

Dec. 31, 2014

Investment in preferred shares of three companies [Member]

CNY

item

Investments [Line Items]

Minimum equity interest in an investee company (as a percent)

20.00%

10.00%

Original investment

15,000,000

$ 6,000,000

36,714,000

Number of third parties engaged by board of directors in evaluation of Weihui

Number of companies whose preferred stock is acquired by the entity under the agreement

Consideration to acquire minority stake

28,000,000

15,600,000

59,000,000

Ownership percentage

27.78%

72.22%

Amount receivable by group in event of liquidation in preference to other common shareholders as percentage of original investment

100.00%

Carrying amount of investment

153,024,000

^{[1],[2],[3],[4],[5]}

47,110,000

^{[1],[2],[3],[4],[5]}

Other non-operating income

$ 5,917,000

36,714,000

[1]	In June 2013, the Group made an investment with an equity interest of 20% in a company with consideration of RMB15 million. The investment was not an investment in common stock or in-substance common stock and therefore was precluded from applying the equity method of accounting. It has been accounted for as an investment under cost method.
[2]	In 2013, the Group entered into agreements to acquire minority stake of preferred shares of two companies with total consideration of approximately RMB28 million. Given the fact that the Company cannot unilaterally demand redemption of both of the preferred stocks as the Group only owns less than or equal to 10% of the preferred stocks respectively, these investments have been accounted for as an investment in an equity security under cost method since both of the equity securities do not have a readily determinable fair value.
[3]	In 2014, the Group entered into agreements to acquire minority stake of preferred shares of three companies with total consideration of approximately RMB59 million. Given the fact that the Company cannot unilaterally demand redemption of all of the preferred stocks as the Company only owns less than or equal to 10% of the preferred stocks respectively, these investments have been accounted for as an investment in an equity security under cost method since all of the equity securities do not have a readily determinable fair value.
[4]	The Group has developed and launched a mobile application called Weihui in 2014. Users of this application can make telephone calls with other users free of charge. In October 2014, the Group entered into an agreement with its CEO to inject Weihui into Bigo Technology Pte Ltd.(“Bigo”), a company set up and controlled by the CEO. The Group and the CEO agreed that Weihui shall be priced at US$6 million (equivalent to RMB36,714). The board of directors of the Company has engaged two third party valuation firms in the evaluation of fair value of Weihui using both cost approach and market approach. In the opinion of the two third party valuation firms, the price of Weihui is fair and reasonable to the Group. As the cash contribution injected by the CEO and other investors into Bigo is US$15.6 million, the Group holds 27.78% and the CEO and other investors hold 72.22% of equity interests of Bigo, respectively. The shareholding percentage of the Group and the CEO and other investors are in proportionate to their capital injection. As part of the agreement, the Group is entitled to receive an amount equal to 100% of its original investment in the event of liquidation in preference to other common shareholders. As a result, the investment was not an investment in common stock or in-substance common stock and therefore was precluded from applying the equity method of accounting. It was accounted for the investment under the cost method. Considering that the substance of this transaction was that the Group transferred a group of assets that constitute a business to Bigo in exchange for a non-controlling interest in Bigo and the Group accounted for its investment over Bigo using the cost method, the entire difference between the fair value and carrying value of the assets given up was recognised in other non-operating income. As the carrying amount of Weihui on the Group's accounting book was zero, the non-operating income being recognised is RMB 36,714.
[5]	In addition to the above, the Group also made several cost investments in 2014. Save as disclosed above, none of these investments are, individually or in aggregate, material to the Group's financial statements.

Property and equipment, net (Schedule of Property and Equipment) (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2014 Servers, computers and equipment [Member] CNY	Dec. 31, 2013 Servers, computers and equipment [Member] CNY	Dec. 31, 2014 Leasehold improvement [Member] CNY	Dec. 31, 2013 Leasehold improvement [Member] CNY	Dec. 31, 2014 Furniture, fixture and office equipment [Member] CNY	Dec. 31, 2013 Furniture, fixture and office equipment [Member] CNY	Dec. 31, 2014 Motor vehicles [Member] CNY	Dec. 31, 2013 Motor vehicles [Member] CNY	Dec. 31, 2014 Construction in progress [Member] CNY	Dec. 31, 2013 Construction in progress [Member] CNY
Property and equipment, net [Line Items]
Gross carrying amount		392,989	195,171	304,117	152,404	32,392	23,257	13,879	9,672	10,815	5,186	31,786	4,652
Less: accumulated depreciation		(158,761)	(92,535)
Property and equipment, net	$ 37,751	234,228	102,636

Intangible assets, net (Summary of Group's Intangible Assets) (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2014 Software [Member] CNY	Dec. 31, 2013 Software [Member] CNY	Dec. 31, 2014 Technology [Member] CNY	Dec. 31, 2013 Technology [Member] CNY	Dec. 31, 2014 Domain names [Member] CNY	Dec. 31, 2013 Domain names [Member] CNY	Dec. 31, 2014 Brand names [Member] CNY	Dec. 31, 2014 Operating rights for licensed games [Member] CNY	Dec. 31, 2014 Others [Member] CNY
Intangible assets, net [Line Items]
Gross carrying amount		183,276	39,884	17,304	5,477	17,145	17,121	24,686	17,286	94,120	11,721	18,300
Less: accumulated amortization		(23,008)	(10,207)	(5,944)	(3,209)	(6,035)	(4,054)	(4,278)	(2,944)	(1,728)	(4,249)	(774)
Less: impairment				(6,234)	(550)
Intangible assets, net	$ 24,826	154,034	29,127

Intangible assets, net (Narrative) (Details) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY
Intangible assets, net [Abstract]
Amortization of acquired intangible assets	$ 2,030	12,598	4,707	3,369
Impairment of intangible assets	$ 918	5,697		550

Intangible assets, net (Schedule of Estimated Amortization Expenses) (Details) (CNY) In Thousands, unless otherwise specified	Dec. 31, 2014
Amortization expense of intangible assets
2015	31,190
2016	19,874
2017	17,105
2018	14,544
2019	12,844

Intangible assets, net (Schedule of Weighted Average Amortization Periods of Intangible Assets) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Domain names [Member]
Weighted average amortization periods of intangible assets
Weighted average amortization period	15 years	15 years
Technology [Member]
Weighted average amortization periods of intangible assets
Weighted average amortization period	5 years	5 years
Software [Member]
Weighted average amortization periods of intangible assets
Weighted average amortization period	4 years	3 years
Brand names [Member]
Weighted average amortization periods of intangible assets
Weighted average amortization period	11 years
Operating rights for licensed games [Member]
Weighted average amortization periods of intangible assets
Weighted average amortization period	2 years
Others [Member]
Weighted average amortization periods of intangible assets
Weighted average amortization period	4 years

Goodwill (Details) In Thousands, unless otherwise specified	12 Months Ended				12 Months Ended					12 Months Ended
Goodwill (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2014 USD ($)	Dec. 31, 2014 Zhengrenqiang and DuBooker [Member] CNY	Dec. 31, 2013 Zhengrenqiang and DuBooker [Member] CNY	Dec. 31, 2014 Xingxue and Chuangzhi [Member] CNY	Dec. 31, 2013 Xingxue and Chuangzhi [Member] CNY	Dec. 23, 2014 Xingxue and Chuangzhi [Member] CNY	Dec. 31, 2014 Another Company Acquisitions [Member] CNY	Dec. 31, 2013 Another Company Acquisitions [Member] CNY
Goodwill
Balance at beginning of the year	1,577	1,604		$ 48,413					100,382
Acquisition					195,893		100,382			2,527
Foreign exchange	3	(27)
Balance at end of the year	300,382	1,577	1,604	48,413	195,893				100,382
Percentage of equity interests acquired					100.00%		100.00%		100.00%
Goodwill impairment losses	0	0	0

Other non-current assets (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY
Other non-current assets [Abstract]
Prepayment for acquiring an office building		481,047
Unamortized convertible bonds issuance cost		42,275
Prepayments of exclusive license fee		31,189
Others		6,460	4,864
Total	$ 90,412	560,971	4,864

Deferred revenue (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2014 IVAS revenues [Member] CNY	Dec. 31, 2013 IVAS revenues [Member] CNY	Dec. 31, 2014 Government grants [Member] CNY	Dec. 31, 2013 Government grants [Member] CNY
Deferred revenue [Line Items]
Deferred revenue, current	$ 57,401	356,150	293,866	354,454	292,184	1,696	1,682
Deferred revenue, non-current	$ 3,930	24,383	9,425	23,850	8,457	533	968

Accrued liabilities and other current liabilities (Details) In Thousands, unless otherwise specified	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY
Accrued liabilities and other current liabilities [Abstract]
Accrued salaries and welfare		168,300	113,302
Accrued revenue sharing fees		160,248	66,512
Accrued bandwidth costs		53,399	21,869
Business and other taxes payable		15,220	14,248
Interests payable		13,944
Accrued technology service fee		10,328	5,040
Deposits from advertising customers		7,826
Value added taxes payable		2,734	5,291
Others		46,704	24,498
Total	$ 77,153	478,703	250,760

Convertible bonds (Details)	12 Months Ended							0 Months Ended	12 Months Ended			12 Months Ended
Convertible bonds (Details)	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2014 Class A common shares [Member] USD ($)	Dec. 31, 2013 Class A common shares [Member] USD ($)	Nov. 21, 2012 Class A common shares [Member] USD ($)	Mar. 18, 2014 2.25% Convertible Senior Notes due 2019 [Member] USD ($)	Dec. 31, 2014 2.25% Convertible Senior Notes due 2019 [Member] CNY	Dec. 31, 2014 2.25% Convertible Senior Notes due 2019 [Member] USD ($)	Dec. 31, 2013 2.25% Convertible Senior Notes due 2019 [Member] CNY	Dec. 31, 2014 2.25% Convertible Senior Notes due 2019 [Member] Contingent redemption option [Member]	Dec. 31, 2014 2.25% Convertible Senior Notes due 2019 [Member] Non-contingent redemption option [Member]	Dec. 31, 2014 2.25% Convertible Senior Notes due 2019 [Member] ADS [Member] USD ($)
Convertible bonds [Line Items]
Convertible bonds	$ 394,543,000	2,447,980,000							2,447,980,000	$ 400,000,000
Aggregate principle amount								400,000,000
Interest rate (as a percent)										2.25%
Maturity date									Apr. 01, 2019
Common shares, par value (in dollars per share)					$ 0.00001	$ 0.00001	$ 0.00001
Initial conversion rate														9.0334
Initial conversion price														$ 110.70
Net proceeds	387,221,000	2,402,549,000						390,800,000
Debt issuance costs								9,200,000
Issuance date								Mar. 18, 2014
Redemption period, start date												Apr. 01, 2019	Apr. 01, 2017
Redemption percentage												100.00%	100.00%
Interest expense	$ 9,123,000	56,607,000							56,607,000

Cost of revenue (Details) (Cost of revenues [Member], CNY) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cost of revenues [Member]
Revenue sharing fees and content costs	1,133,984	444,065	109,273
Bandwidth costs	345,913	203,238	145,037
Salary and welfare	131,773	88,456	50,009
Depreciation and amortization	59,817	37,084	25,762
Payment handling costs	55,101	24,955	22,828
Business tax and surcharges	49,233	47,755	30,026
Shared-based compensation	18,037	9,860	8,407
Other costs	55,291	26,586	24,791
Total	1,849,149	881,999	416,133

Other income (Details) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY
Other income [Abstract]
Government grants		5,570	25,356	2,465
Others		749	1,722
Total	$ 1,018	6,319	27,078	2,465

Income tax (Narrative) (Details) (CNY) In Thousands, unless otherwise specified	12 Months Ended					12 Months Ended				84 Months Ended		36 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Cayman [Member]	Dec. 31, 2014 BVI [Member]	Dec. 31, 2014 Hong Kong [Member]	Dec. 31, 2013 Hong Kong [Member]	Dec. 31, 2012 Hong Kong [Member]	Dec. 31, 2014 PRC [Member]	Dec. 31, 2014 PRC [Member]	Dec. 31, 2013 PRC [Member]	Dec. 31, 2014 Guangzhou Huaduo [Member] PRC [Member]	Dec. 31, 2014 Other PRC subsidiaries, VIE and VIE's subsidiary [Member]	Dec. 31, 2014 Guangzhou Huanju Shidai [Member]
Income tax [Line Items]
Withholding income tax				0	0
Income tax rate (as a percent)	25.00%	25.00%	25.00%			16.50%	16.50%	16.50%		25.00%
Preferential tax rate (as a percent)									15.00%			15.00%	25.00%	0.00%
Tax exemption period following the first profitable year									2 years
Period for reduction in tax percentage									3 years
Reduction in tax rate for three years following the exemption period (as a percent)									50.00%
Percentage of research and development expenses entitled to claim by enterprise									150.00%
PRC withholding tax rate (as a percent)									10.00%
Aggregate undistributed earnings of subsidiaries available for distribution									1,819,004	1,819,004	753,975
Accrued deferred tax liability	0	0
Maximum period for claw back underpaid tax plus penalties and interest by tax authorities									5 years

Income tax (Schedule of Current and Deferred Portions of Income Tax Expense Included in Consolidated Statements of Operations) (Details) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY
Current and deferred portions of income tax expense
Current income tax expenses		(200,034)	(125,365)	(48,357)
Deferred income tax benefits	7,374	45,751	35,414	19,316
Income tax expense for the year	$ (24,866)	(154,283)	(89,951)	(29,041)

- Definition

Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Income tax (Schedule of Reconciliation of Total Tax Expense Computed by Applying Respective Statutory Income Tax Rate to Pre-tax Income) (Details)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Income tax [Abstract]

PRC Statutory income tax rate (as a percent)

(25.00%)

Effect of preferential tax rate (as a percent)

13.10%

10.50%

10.40%

Effect of tax-exempt entities (as a percent)

1.10%

2.20%

0.20%

Permanent differences (as a percent)

(3.50%)

^[1]

(4.00%)

^[1]

(13.90%)

^[1]

Change in valuation allowance (as a percent)

(0.40%)

(3.00%)

(2.00%)

Effect of Super Deduction available to the Group (as a percent)

2.00%

3.40%

5.70%

Effective income tax rate (as a percent)

(12.70%)

(15.90%)

(24.60%)

[1]	Permanent differences mainly arise from expenses not deductible for tax purposes including primarily share-based compensation costs and expenses incurred by subsidiaries and VIEs.

Income tax (Schedule of Tax Effects of Temporary Differences that Give Rise to Deferred Tax Asset Balances) (Details)
In Thousands, unless otherwise specified

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CNY

Dec. 31, 2013

CNY

Deferred tax assets, current:

Deferred revenue

37,796

32,905

Allowance for doubtful accounts receivable, accrued expense and others not currently deductible for tax purposes

82,957

39,791

Valuation allowance

(9,317)

^[1]

(5,775)

^[1]

Total current deferred tax assets, net

17,960

111,436

66,921

Deferred tax assets, non-current:

Tax loss carried forward

14,654

16,400

Deferred revenue

343

445

Impairment of investment

798

180

Others

705

Valuation allowance

(15,108)

^[1]

(16,400)

^[1]

Total non-current deferred tax assets, net

224

1,392

625

Deferred tax liabilities, non-current:

Related to acquired intangible assets

26,709

[1]

Income tax (Schedule of Net Operating Tax Loss Carry Forwards) (Details) (CNY) In Thousands, unless otherwise specified	Dec. 31, 2014
Net operating tax loss carry forwards [Line Items]
Operating tax loss carry forwards	58,615
2015 [Member]
Net operating tax loss carry forwards [Line Items]
Operating tax loss carry forwards
2016 [Member]
Net operating tax loss carry forwards [Line Items]
Operating tax loss carry forwards	2,574
2017 [Member]
Net operating tax loss carry forwards [Line Items]
Operating tax loss carry forwards	685
2018 [Member]
Net operating tax loss carry forwards [Line Items]
Operating tax loss carry forwards	25,428
2019 [Member]
Net operating tax loss carry forwards [Line Items]
Operating tax loss carry forwards	29,928

Common shares (Details) In Thousands, except Share data, unless otherwise specified	12 Months Ended				0 Months Ended	12 Months Ended			0 Months Ended				0 Months Ended	12 Months Ended				12 Months Ended				0 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Nov. 21, 2012 Class A common shares [Member] USD ($) vote	Dec. 31, 2014 Class A common shares [Member] USD ($)	Dec. 31, 2013 Class A common shares [Member] USD ($)	Dec. 31, 2012 Class A common shares [Member]	Nov. 21, 2012 Class B common shares [Member] USD ($) vote	Dec. 31, 2014 Class B common shares [Member] USD ($)	Dec. 31, 2013 Class B common shares [Member] USD ($)	Dec. 31, 2012 Class B common shares [Member]	Nov. 21, 2012 Common shares [Member]	Dec. 31, 2014 Common shares [Member] Class A common shares [Member]	Dec. 31, 2013 Common shares [Member] Class A common shares [Member]	Dec. 31, 2012 Common shares [Member] Class A common shares [Member]	Dec. 31, 2011 Common shares [Member] Class A common shares [Member]	Dec. 31, 2014 Common shares [Member] Class B common shares [Member]	Dec. 31, 2013 Common shares [Member] Class B common shares [Member]	Dec. 31, 2012 Common shares [Member] Class B common shares [Member]	Dec. 31, 2011 Common shares [Member] Class B common shares [Member]	Oct. 31, 2012 Common shares [Member] Restricted shares [Member]
Common shares [Line Items]
Issuance of common shares (in shares)					179,400,000	25,036,140	21,256,900									179,400,000
Issuance costs of common stock			5,802	27,815
Conversion of Stock, Shares Issued									359,424,310					58,478,690	422,001,838
Conversion of Stock, Shares Converted													548,408,914					58,478,690	422,001,838			5,068,000
Common stock, par value (in dollars per share)					$ 0.00001	$ 0.00001	$ 0.00001		$ 0.00001	$ 0.00001	$ 0.00001
Vote entitled per share					1				10
Number of Class A common shares convertible from Class B common shares					1
Common shares, shares authorized						10,000,000,000	10,000,000,000	10,000,000,000		1,000,000,000	1,000,000,000	1,000,000,000
Common shares, shares issued						706,173,568	622,658,738	179,400,000		427,352,696	485,831,386	907,833,224
Common shares, shares outstanding						706,173,568	622,658,738	179,400,000		427,352,696	485,831,386	907,833,224		706,173,568	622,658,738	179,400,000		427,352,696	485,831,386	907,833,224	543,340,914

Convertible redeemable preferred shares (Narrative) (Details) In Thousands, except Share data, unless otherwise specified	12 Months Ended						0 Months Ended	1 Months Ended			12 Months Ended		0 Months Ended	1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended	1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended		12 Months Ended		0 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Jan. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Nov. 22, 2009 Series A Preferred Shares [Member] CNY	Aug. 31, 2008 Series A Preferred Shares [Member] CNY	Jun. 30, 2008 Series A Preferred Shares [Member] CNY	Dec. 31, 2006 Series A Preferred Shares [Member] CNY	Dec. 31, 2014 Series A Preferred Shares [Member]	Dec. 01, 2006 Series A Preferred Shares [Member] USD ($)	Nov. 22, 2009 Series B convertible redeemable preferred shares [Member] CNY	Aug. 31, 2008 Series B convertible redeemable preferred shares [Member] CNY	Dec. 31, 2014 Series B convertible redeemable preferred shares [Member]	Aug. 08, 2008 Series B convertible redeemable preferred shares [Member] USD ($)	Nov. 30, 2009 Series C Preferred Shares [Member] CNY	Dec. 31, 2014 Series C Preferred Shares [Member]	Nov. 30, 2009 Series C-1 Preferred Shares [Member] CNY	Dec. 31, 2014 Series C-1 Preferred Shares [Member]	Nov. 22, 2009 Series C-1 Preferred Shares [Member] USD ($)	Nov. 30, 2009 Series C-2 Preferred Shares [Member] CNY	Dec. 31, 2014 Series C-2 Preferred Shares [Member]	Nov. 22, 2009 Series C-2 Preferred Shares [Member] USD ($)	Dec. 31, 2014 Preferred Shares [Member] vote	Dec. 31, 2011 Preferred Shares [Member] USD ($)	Nov. 21, 2012 Class B common shares [Member]
Convertible redeemable preferred shares [Line Items]
Shares issued									81,612,930	54,488,000				102,073,860					16,249,870			104,999,650
Aggregate cash considerations									13,722	7,720				34,232					8,875			71,684
Issue price per share												$ 0.0184				$ 0.0490					$ 0.0800			$ 0.1000
Issuance costs			5,802	27,815					172					278			274
Preferred Stock Voting Rights Per Share																									1
Percentage of the original issuance price for calculating liquidation preference											150.00%				100.00%			100.00%
Convertible redeemable preferred shares, par value (in dollars per share)																										$ 0.00001
Conversion ratio																										1
Minimum market capitalization for a Qualified IPO					1,500,000	400,000
Common shares, shares issued upon conversion																											359,424,310
Period following the original issue date after which shares can be redeemed by the entity, at the election of the majority of shareholders																		5 years
Cash or cash equivalents minimum thresholds limit	3,000
Free cash flow in preceding twelve months	1,000
Period of minimum free cash flows for redemption of preferred shares	12 months	12 months
Redemption price, percentage of original issue price											150.00%				100.00%					100.00%			100.00%
Internal rate of return (as a percent)											10.00%				10.00%					10.00%			10.00%
Incremental value received by preferred shareholders							19	916					176

Convertible redeemable preferred shares (Schedule of Preferred Shares) (Details) In Thousands, except Share data, unless otherwise specified						0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended								0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended
	Dec. 31, 2014 Series A Preferred Shares [Member] CNY	Dec. 31, 2013 Series A Preferred Shares [Member] CNY	Dec. 31, 2012 Series A Preferred Shares [Member] CNY	Dec. 31, 2011 Series A Preferred Shares [Member] CNY	Dec. 01, 2006 Series A Preferred Shares [Member] USD ($)	Dec. 01, 2006 Series A Preferred Shares [Member] December 1, 2006 [Member] USD ($)	Dec. 31, 2011 Series A Preferred Shares [Member] December 1, 2006 [Member] CNY	Jun. 02, 2008 Series A Preferred Shares [Member] June 2, 2008 [Member] USD ($)	Dec. 31, 2011 Series A Preferred Shares [Member] June 2, 2008 [Member] CNY	Aug. 08, 2008 Series B convertible redeemable preferred shares [Member] USD ($)	Dec. 31, 2011 Series B convertible redeemable preferred shares [Member] CNY	Dec. 31, 2014 Series B convertible redeemable preferred shares [Member] CNY	Dec. 31, 2013 Series B convertible redeemable preferred shares [Member] CNY	Dec. 31, 2012 Series B convertible redeemable preferred shares [Member] CNY	Dec. 31, 2014 Series C Preferred Shares [Member] CNY	Dec. 31, 2013 Series C Preferred Shares [Member] CNY	Dec. 31, 2012 Series C Preferred Shares [Member] CNY	Dec. 31, 2011 Series C Preferred Shares [Member] CNY	Nov. 22, 2009 Series C-1 Preferred Shares [Member] USD ($)	Dec. 31, 2011 Series C-1 Preferred Shares [Member] CNY	Nov. 22, 2009 Series C-2 Preferred Shares [Member] USD ($)	Dec. 31, 2011 Series C-2 Preferred Shares [Member] CNY
Convertible redeemable preferred shares [Line Items]
Issuance Date							Dec. 01, 2006		Jun. 02, 2008		Aug. 08, 2008									Nov. 22, 2009		Nov. 22, 2009
Shares issued							54,488,000		81,612,930		102,073,860									16,249,870		104,999,650
Issue Price Per Share					$ 0.0184	$ 0.0184		$ 0.0245		$ 0.0490									$ 0.0800		$ 0.1000
Proceeds from Issuance, Net of Issuance Costs						$ 1,000		$ 1,975		$ 4,959									$ 1,300		$ 10,460
Carrying Amount				935,013			374,332		560,681		703,901							842,020		112,556		729,464

- Definition

The number of securities classified as temporary equity that have been sold (or granted) to the entity's shareholders. Securities issued include securities outstanding and securities held in treasury. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References+ Details

Convertible redeemable preferred shares (Schedule of Changes of Each of Convertible Redeemable Preferred Shares) (Details) (CNY) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Series A Preferred Shares [Member]
Changes of convertible redeemable preferred shares
Beginning balance			935,013
Decretion to redeemable value			(485,517)
Conversion of convertible redeemable preferred shares into Class B common shares			(449,496)
Ending balance
Series B Preferred Shares [Member]
Changes of convertible redeemable preferred shares
Beginning balance			703,901
Decretion to redeemable value			(366,785)
Conversion of convertible redeemable preferred shares into Class B common shares			(337,116)
Ending balance
Series C Preferred Shares [Member]
Changes of convertible redeemable preferred shares
Beginning balance			842,020
Decretion to redeemable value			(441,573)
Conversion of convertible redeemable preferred shares into Class B common shares			(400,447)
Ending balance

Convertible redeemable preferred shares (Schedule of Assumptions in Discounted Cash Flow Method) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2011
Convertible redeemable preferred shares [Abstract]
Risk-free interest rate (as a percent)	4.14%	2.53%
Volatility (as a percent)		66.10%
Dividend yield (as a percent)
Discount rate (as a percent)	16.00%	16.00%

Share-based compensation (Share Options - Narrative) (Details) In Thousands, except Share data, unless otherwise specified			0 Months Ended	12 Months Ended					0 Months Ended
	Dec. 31, 2014 Pre-2009 Scheme Options [Member] Employees [Member] CNY	Dec. 31, 2014 Pre-2009 Scheme Options [Member] Non-employee [Member] CNY	Nov. 21, 2012 Share options [Member] Non-employee [Member] USD ($)	Dec. 31, 2014 Share options [Member] Pre-2009 Scheme Options [Member] CNY	Dec. 31, 2013 Share options [Member] Pre-2009 Scheme Options [Member] CNY	Dec. 31, 2012 Share options [Member] Pre-2009 Scheme Options [Member] CNY	Dec. 31, 2014 Share options [Member] Pre-2009 Scheme Options [Member] Share-based Compensation Award, Tranche One [Member]	Dec. 31, 2014 Share options [Member] Pre-2009 Scheme Options [Member] Share-based Compensation Award, Tranche Two [Member] item	Dec. 31, 2008 Share options [Member] Pre-2009 Scheme Options [Member] Employees [Member]	Dec. 31, 2007 Share options [Member] Pre-2009 Scheme Options [Member] Employees [Member]	Dec. 31, 2007 Share options [Member] Pre-2009 Scheme Options [Member] Non-employee [Member] item
Share-based compensation [Line Items]
Awards granted (in shares)									8,499,050	12,705,700	3,832,290
Number of non-employees to whom options were granted											1
Vesting period				4 years				36 months
Vesting rate							25.00%	75.00%
Number of equal installments in which award will vest								6
Weighted average exercise price of option granted (in dollars per share)
Total intrinsic value of options exercised				134,844	64,195
Share-based compensation (benefit)					14,004	(89)
Unrecognized compensation cost and expense

Share-based compensation (Summary of Activities of Pre-2009 Scheme Options for Employees and Non-employee) (Details) (Share options [Member], Pre-2009 Scheme Options [Member], USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share options [Member] \| Pre-2009 Scheme Options [Member]
Number of options
Outstanding at the beginning of the period (in shares)	13,222,005	17,870,425	17,889,535
Exercised/Repurchased (in shares)	(5,841,660)	(4,648,420)
Forfeited (in shares)			(19,110)
Outstanding at the end of the period (in shares)		13,222,005	17,870,425	17,889,535
Outstanding, vested and exercisable at the end of the period (in shares)	7,380,345
Weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 0.0059	$ 0.0055	$ 0.0055
Exercised/Repurchased (in dollars per share)	$ 0.0057	$ 0.0045
Forfeited (in dollars per share)			$ 0.0067
Outstanding at the end of the period (in dollars per share)		$ 0.0059	$ 0.0055	$ 0.0055
Outstanding, vested and exercisable at the end of the period (in dollars per share)	$ 0.0061
Weighted average remaining contractual life
Outstanding at the end of the period		4 years 4 months 24 days	5 years 4 months 13 days	6 years 4 months 13 days
Forfeited			6 years 3 months
Exercised	3 years 2 months 26 days	4 years 3 months 18 days
Outstanding, vested and exercisable at the end of the period	3 years 6 months 7 days
Aggregate intrinsic value
Outstanding at the end of the period		$ 33,162	$ 12,642	$ 19,366
Outstanding, vested and exercisable at the end of the period	$ 22,959

Share-based compensation (Restricted Shares - Narrative) (Details) (Restricted shares [Member], CNY) In Thousands, except Share data, unless otherwise specified	12 Months Ended						60 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Share-based Compensation Award, Tranche One [Member]	Dec. 31, 2014 Share-based Compensation Award, Tranche Two [Member] item	Dec. 31, 2014 Maximum [Member]	Dec. 31, 2014 Duowan BVI [Member] Non Employee [Member]	Dec. 31, 2014 Duowan BVI [Member] Employees [Member]
Share-based compensation [Line Items]
Granted (in shares)							100,000	61,250,677
Vesting period				24 months	24 months
Vesting rate				50.00%	50.00%
Number of equal installments in which award will vest					2
Period from receipt of the notification to deliver a properly signed agreement after which service vested shares held by leaving employee shall automatically lapse and expire						30 days
Share-based compensation (benefit)	3,771	7,300	36,371

Share-based compensation (Summary of Restricted Shares Activity) (Details) (Restricted shares [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Restricted shares [Member]
Number of restricted shares
Outstanding at the beginning of the period (in shares)	4,673,725	18,230,801	43,285,101
Forfeited (in shares)	(159,410)	(1,581,789)	(3,673,580)
Vested (in shares)	(4,514,315)	(11,975,287)	(21,380,720)
Outstanding at the end of the period (in shares)		4,673,725	18,230,801
Expected to vest at the end of the period (in shares)
Weighted average grant-date fair value
Outstanding at the beginning of the period (in dollars per share)	$ 0.6144	$ 0.4898	$ 0.4885
Forfeited (in dollars per share)	$ 0.9362	$ 0.8726	$ 0.4945
Vested (in dollars per share)	$ 0.6030	$ 0.3906	$ 0.4864
Outstanding at the end of the period (in dollars per share)		$ 0.6144	$ 0.4898

Share-based compensation (Awards Granted to CEO and Chairman of Company - Narrative) (Details) (Restricted shares [Member], CNY) In Thousands, except Share data, unless otherwise specified	12 Months Ended					0 Months Ended				12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Share-based Compensation Award, Tranche One [Member]	Dec. 31, 2014 Share-based Compensation Award, Tranche Two [Member]	Feb. 23, 2010 CEO [Member]	Feb. 23, 2010 Mr. Jun Lei, Chairman of the Company [Member]	Feb. 23, 2010 Mr. Jun Lei, Chairman of the Company [Member] Share-based Compensation Award, Tranche One [Member]	Feb. 23, 2010 Mr. Jun Lei, Chairman of the Company [Member] Share-based Compensation Award, Tranche Two [Member]	Dec. 31, 2014 CEO and Chairman [Member]	Dec. 31, 2013 CEO and Chairman [Member]	Dec. 31, 2012 CEO and Chairman [Member]
Share-based compensation [Line Items]
Granted (in shares)						13,369,813	29,678,483
Vesting period				24 months	24 months		4 years
Vesting rate				50.00%	50.00%			50.00%	25.00%
Total fair value of awards vested												35,924
Shared-based compensation	3,771	7,300	36,371									9,624
Total unrecognized compensation expense

Share-based compensation (Summary Information Regarding Restricted Shares Granted to CEO and Chairman) (Details) (Restricted shares [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Number of restricted shares
Outstanding at the beginning of the period (in shares)	4,673,725	18,230,801	43,285,101
Vested (in shares)	(4,514,315)	(11,975,287)	(21,380,720)
Outstanding at the end of the period (in shares)		4,673,725	18,230,801
Weighted average grant-date fair value
Outstanding at the beginning of the period (in dollars per share)	$ 0.6144	$ 0.4898	$ 0.4885
Vested (in dollars per share)	$ 0.6030	$ 0.3906	$ 0.4864
Outstanding at the end of the period (in dollars per share)		$ 0.6144	$ 0.4898
CEO and Chairman [Member]
Number of restricted shares
Outstanding at the beginning of the period (in shares)			29,678,483
Vested (in shares)			(29,678,483)
Outstanding at the end of the period (in shares)
Weighted average grant-date fair value
Outstanding at the beginning of the period (in dollars per share)			$ 0.1875
Vested (in dollars per share)			$ 0.1875

Share-based compensation (Restricted Share Units - Narrative) (Details) (2011 Incentive Scheme [Member], CNY) In Thousands, except Share data, unless otherwise specified	1 Months Ended		12 Months Ended			0 Months Ended	12 Months Ended			0 Months Ended	12 Months Ended		0 Months Ended	12 Months Ended			15 Months Ended	12 Months Ended
	Oct. 31, 2012	Sep. 16, 2011	Dec. 31, 2014 Restricted share units [Member]	Dec. 31, 2013 Restricted share units [Member]	Dec. 31, 2012 Restricted share units [Member]	Sep. 16, 2011 Restricted share units [Member] Employees [Member]	Dec. 31, 2014 Restricted share units [Member] Employees [Member]	Dec. 31, 2013 Restricted share units [Member] Employees [Member]	Dec. 31, 2012 Restricted share units [Member] Employees [Member]	Sep. 16, 2011 Restricted share units [Member] Employees [Member] Minimum [Member]	Dec. 31, 2014 Restricted share units [Member] Employees [Member] Minimum [Member]	Dec. 31, 2012 Restricted share units [Member] Employees [Member] Minimum [Member]	Sep. 16, 2011 Restricted share units [Member] Employees [Member] Maximum [Member]	Dec. 31, 2014 Restricted share units [Member] Employees [Member] Maximum [Member]	Dec. 31, 2012 Restricted share units [Member] Employees [Member] Maximum [Member]	Dec. 31, 2013 Restricted share units [Member] Non-employee [Member]	Dec. 31, 2012 Restricted share units [Member] Non-employee [Member]	Dec. 31, 2013 Restricted share units [Member] Employees and Non Employees [Member] Minimum [Member]	Dec. 31, 2013 Restricted share units [Member] Employees and Non Employees [Member] Maximum [Member]
Share-based compensation [Line Items]
Shares approved for grants to qualified persons		43,000,000
Granted (in shares)			9,912,595	29,965,989	18,295,221	9,097,000	9,912,595	29,917,989	18,295,221							48,000	0
Vesting period										4 years	18 months	2 years	5 years	5 years	4 years			3 years	5 years
Annual increase on the first day of each fiscal year, beginning from 2013 in maximum aggregate number of shares which may be issued pursuant to all awards under the Plan	20,000,000
Share-based compensation (benefit)			130,718	95,792	54,445
Total unrecognized compensation expense			204,514
Weighted average period over which unrecognized compensation expense is expected to be recognized			1 year 3 months 7 days

Share-based compensation (Summary of Restricted Share Units Activity) (Details) (2011 Incentive Scheme [Member], Restricted share units [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
2011 Incentive Scheme [Member] \| Restricted share units [Member]
Number of restricted shares
Outstanding at the beginning of the period (in shares)	44,302,600	26,695,621	8,996,300
Granted (in shares)	9,912,595	29,965,989	18,295,221
Forfeited (in shares)	(3,125,430)	(3,522,992)	(595,900)
Vested (in shares)	(12,283,670)	(8,836,018)
Outstanding at the end of the period (in shares)	38,806,095	44,302,600	26,695,621
Expected to vest at the end of the period (in shares)	36,892,103
Weighted average grant-date fair value
Outstanding at the beginning of the period (in dollars per share)	$ 0.9639	$ 1.0415	$ 1.0630
Granted (in dollars per share)	$ 3.5805	$ 0.9338	$ 1.0324
Forfeited (in dollars per share)	$ 1.1859	$ 1.0699	$ 1.0876
Vested (in dollars per share)	$ 1.0144	$ 1.0429
Outstanding at the end of the period (in dollars per share)	$ 1.5984	$ 0.9639	$ 1.0415
Expected to vest at the end of the period (in dollars per share)	$ 1.5647

Basic and diluted net income per share (Schedule of Calculation of Basic and Diluted Net Income Per Share) (Details)
In Thousands, except Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CNY

Dec. 31, 2013

CNY

Dec. 31, 2012

CNY

Dec. 31, 2014

American Depository Shares [Member]

USD ($)

Dec. 31, 2014

American Depository Shares [Member]

CNY

Dec. 31, 2013

American Depository Shares [Member]

CNY

Dec. 31, 2012

American Depository Shares [Member]

CNY

Numerator:

Net income attributable to the Company

$ 171,561

1,064,472

477,727

89,177

Decretion to convertible redeemable preferred shares redemption value

1,293,875

Allocation of net income to participating preferred shareholders

(478,754)

Net income attributable to common shareholders

171,561

1,064,472

477,727

904,298

Dilutive effect of preferred shares

(815,121)

Numerator for diluted income per share

1,064,472

477,727

89,177

Denominator:

Denominator for basic calculation-weighted average number of Class A and Class B common shares outstanding

1,153,140,699

^[1]

1,153,140,699

^[1]

1,122,475,688

^[1]

604,703,810

^[1]

57,657,035

^[1]

57,657,035

^[1]

56,123,784

^[1]

30,235,191

^[1]

Dilutive effect of preferred shares

320,142,965

Dilutive effect of share options

10,372,442

16,362,048

17,782,885

Dilutive effect of restricted shares

2,604,789

14,400,670

30,594,877

Dilutive effect of restricted share units

32,425,543

27,882,891

4,802,491

Dilutive effect of share-based awards granted to CEO and Chairman (in shares)

14,441,808

Denominator for diluted calculation (in shares)

1,198,543,473

^[1]

1,198,543,473

^[1]

1,181,121,297

^[1]

992,468,836

^[1]

59,927,174

^[1]

59,927,174

^[1]

59,056,065

^[1]

49,623,442

^[1]

Basic net income per share (in CNY/dollars per share)

$ 0.15

^[1]

0.92

^[1]

0.43

^[1]

1.50

^[1]

$ 2.98

^[1]

18.46

^[1]

8.51

^[1]

29.91

^[1]

Diluted net income per share (in CNY/dollars per share)

$ 0.14

^[1]

0.89

^[1]

0.40

^[1]

0.09

^[1]

$ 2.86

^[1]

17.76

^[1]

8.09

^[1]

1.80

^[1]

[1]	Each ADS represents 20 Class A common shares.

Basic and diluted net income per share (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended
	Nov. 21, 2012	Dec. 31, 2014	Dec. 31, 2013
Convertible Bonds [Member]
Additional Information
Anti-dilutive securities excluded from computation of diluted net loss per common share (in shares)		57,219,783
Class A common shares [Member]
Additional Information
Number of ADS issued and sold in IPO (in shares)	179,400,000	25,036,140	21,256,900
Number of common shares represented by each ADS	20	20	20
ADSs [Member]
Additional Information
Number of ADS issued and sold in IPO (in shares)	8,970,000
Public offering price per ADS (in dollars per share)	$ 10.50

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Related party transactions (Schedule of Significant Related Party Transactions) (Details)	12 Months Ended														12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2014 CNY	Dec. 31, 2013 CNY	Dec. 31, 2012 CNY	Dec. 31, 2014 Bigo [Member] CNY	Dec. 31, 2013 Bigo [Member] CNY	Dec. 31, 2012 Bigo [Member] CNY	Dec. 31, 2014 Shanghang [Member] CNY	Dec. 31, 2013 Shanghang [Member] CNY	Dec. 31, 2012 Shanghang [Member] CNY	Dec. 31, 2014 Guangzhou Kuyou [Member] CNY	Dec. 31, 2013 Guangzhou Kuyou [Member] CNY	Dec. 31, 2012 Guangzhou Kuyou [Member] CNY	Mar. 31, 2014 Guangzhou Kuyou [Member]	Dec. 31, 2014 Guangzhou Kuyou [Member] Online games revenue [Member] CNY	Dec. 31, 2013 Guangzhou Kuyou [Member] Online games revenue [Member] CNY	Dec. 31, 2012 Guangzhou Kuyou [Member] Online games revenue [Member] CNY	Dec. 31, 2014 Zhuhai Daren [Member] CNY	Dec. 31, 2013 Zhuhai Daren [Member] CNY	Dec. 31, 2012 Zhuhai Daren [Member] CNY	Dec. 31, 2014 Zhuhai Daren [Member] Online games revenue [Member] CNY	Dec. 31, 2013 Zhuhai Daren [Member] Online games revenue [Member] CNY	Dec. 31, 2012 Zhuhai Daren [Member] Online games revenue [Member] CNY	Dec. 31, 2014 Zhuhai Lequ [Member] CNY	Dec. 31, 2013 Zhuhai Lequ [Member] CNY	Dec. 31, 2012 Zhuhai Lequ [Member] CNY	Dec. 31, 2014 Zhuhai Lequ [Member] Online games revenue [Member] CNY	Dec. 31, 2013 Zhuhai Lequ [Member] Online games revenue [Member] CNY	Dec. 31, 2012 Zhuhai Lequ [Member] Online games revenue [Member] CNY	Dec. 31, 2014 Kingsoft [Member] CNY	Dec. 31, 2013 Kingsoft [Member] CNY	Dec. 31, 2012 Kingsoft [Member] CNY	Dec. 31, 2014 Xishanju [Member] CNY	Dec. 31, 2013 Xishanju [Member] CNY	Dec. 31, 2012 Xishanju [Member] CNY	Dec. 31, 2014 Xishanju [Member] Online games revenue [Member] CNY	Dec. 31, 2013 Xishanju [Member] Online games revenue [Member] CNY	Dec. 31, 2012 Xishanju [Member] Online games revenue [Member] CNY	Dec. 31, 2014 Shenzhen Qingdou [Member] CNY	Dec. 31, 2013 Shenzhen Qingdou [Member] CNY	Dec. 31, 2012 Shenzhen Qingdou [Member] CNY	Dec. 31, 2014 Guangzhou Muyou [Member] CNY	Dec. 31, 2013 Guangzhou Muyou [Member] CNY	Dec. 31, 2012 Guangzhou Muyou [Member] CNY	Dec. 31, 2014 Xiaomi [Member] CNY	Dec. 31, 2013 Xiaomi [Member] CNY	Dec. 31, 2012 Xiaomi [Member] CNY	Dec. 31, 2014 Xiaomi [Member] Advertising revenue [Member] CNY	Dec. 31, 2013 Xiaomi [Member] Advertising revenue [Member] CNY	Dec. 31, 2012 Xiaomi [Member] Advertising revenue [Member] CNY	Dec. 31, 2014 Xiaomi [Member] Membership subscription [Member] CNY	Dec. 31, 2013 Xiaomi [Member] Membership subscription [Member] CNY	Dec. 31, 2012 Xiaomi [Member] Membership subscription [Member] CNY	Dec. 31, 2014 Chairman and Co-founder [Member] CNY	Dec. 31, 2013 Chairman and Co-founder [Member] CNY	Dec. 31, 2012 Chairman and Co-founder [Member] CNY
Related party transactions [Line Items]
Injections of capital											15,000,000
Ownership percentage														20.00%
Payment on behalf of a related party	9,831,000	61,000,000			61,000,000
Bandwidth service provided by related party								42,470,000	21,272,000	11,776,000
Revenue from related party															37,001,000						25,597,000	24,452,000	7,547,000				2,631,000	5,076,000								18,000													1,154,000				227,000
Purchase of intangible assets from related party	3,507,000	21,757,000	14,631,000	1,920,000							6,836,000																				6,010,000
Repayment of interest-free loan from related party	242,000	1,500,000	1,000,000	2,500,000																2,000,000					1,000,000	500,000													1,000,000			500,000
Interest-free loan to related party	242,000	1,500,000		1,200,000																						1,200,000													1,000,000			500,000
Disposal of a cost investment to related party			3,000,000	1,000,000																																																				1,000,000
Disposal of an equity investment to related party	$ 252,000	1,563,000		2,000,000																													1,563,000														2,000,000

Related party transactions (Schedule of Amounts Due from/to Related Parties) (Details)
In Thousands, unless otherwise specified

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CNY

Dec. 31, 2013

CNY

Dec. 31, 2014

Bigo [Member]

CNY

Dec. 31, 2013

Bigo [Member]

CNY

Dec. 31, 2014

Guangzhou Kuyou [Member]

CNY

Dec. 31, 2013

Guangzhou Kuyou [Member]

CNY

Dec. 31, 2014

Zhuhai Daren [Member]

CNY

Dec. 31, 2013

Zhuhai Daren [Member]

CNY

Dec. 31, 2014

Shanghang [Member]

CNY

Dec. 31, 2013

Shanghang [Member]

CNY

Dec. 31, 2014

Zhuhai Lequ [Member]

CNY

Dec. 31, 2013

Zhuhai Lequ [Member]

CNY

Dec. 31, 2014

Xishanju [Member]

CNY

Dec. 31, 2013

Xishanju [Member]

CNY

Amounts due from related parties

$ 9,843

61,073

61,000

^[1]

Amounts due to related parties

$ 4,979

30,892

2,640

24,454

2,020

1,479

4,342

822

339

[1]	As of the date of this report, other receivables from Bigo amounting to RMB61,000 were fully repaid by Bigo.

- Definition

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

+ References+ Details

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Fair value measurements (Details) (CNY) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2011
Liabilities
Risk-free interest rate (as a percent)	4.14%	2.53%
Discount rate (as a percent)	16.00%	16.00%
Recurring [Member]
Liabilities
Contingent consideration in relation to a business acquisition	183,000
Recurring [Member] \| Level 1 [Member]
Liabilities
Contingent consideration in relation to a business acquisition
Recurring [Member] \| Level 2 [Member]
Liabilities
Contingent consideration in relation to a business acquisition
Recurring [Member] \| Level 3 [Member]
Liabilities
Contingent consideration in relation to a business acquisition	183,000

Commitments and contingencies (Narrative) (Details) (CNY)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Commitments and contingencies [Abstract]
Total office rental expenses	28,144,000	19,423,000	16,670,000
Copyright infringement claim [Member] \| NetEase [Member]
Litigation [Line Items]
Amount of potential damages sought	100,000,000

Commitments and contingencies (Schedule of Future Minimum Payments Under Non-cancellable Operating Leases) (Details) (CNY) In Thousands, unless otherwise specified	Dec. 31, 2014
Future minimum payments under non-cancellable operating leases
2015	29,413
2016	8,315
2017	2,502
Total	40,230

Subsequent events (Details) (Subsequent event [Member])	3 Months Ended		1 Months Ended
Subsequent events (Details) (Subsequent event [Member])	Apr. 20, 2015 USD ($)	Mar. 05, 2015 USD ($)	Mar. 31, 2015 Beifu [Member] CNY
Subsequent events [Line Items]
Equity interest acquired (as a percent)			70.00%
Cash payment			39,200,000
Contingent payment			219,000,000
Base contingent payment to be made when achieves specific percentage of performance metrics			100.00%
Share repurchase program authorized amount		200,000,000
Shares repurchased value	$ 169,500,000

Restricted net assets (Details) (CNY) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Restricted net assets [Abstract]
Percentage of after-tax income required to be transferred to statutory general reserve fund	10.00%
Reserve level threshold for mandatory appropriation requirement (as a percent)	50.00%
Restricted net assets	343,090	303,366

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Underwriters' commission	$ 6,593

Principal accounting policies (Convenience Translation - Narrative) (Details)	Dec. 31, 2014
Convenience translation
Rate of translations of amounts from RMB into US$	6.2046