Document and Entity Information
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12 Months Ended |
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Dec. 31, 2014
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Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2014 |
Document Fiscal Year Focus | 2014 |
Document Fiscal Period Focus | FY |
Trading Symbol | NOAH |
Entity Registrant Name | NOAH HOLDINGS LTD |
Entity Central Index Key | 0001499543 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Accelerated Filer |
Entity Common Stock, Shares Outstanding | 28,055,302 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Details
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Definition
The total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A valuation allowance relating to a written agreement to receive money (at a specified future date(s) within one year from the reporting date (or the normal operating cycle, whichever is longer), consisting of principal as well as any accrued interest) for the portion that is expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Operations (USD $)
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12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Revenues: | |||
Total third-party revenues | $ 129,454,969 | $ 95,989,067 | $ 65,780,848 |
Total related party revenues | 132,793,592 | 77,329,868 | 25,982,724 |
Total revenues | 262,248,561 | 173,318,935 | 91,763,572 |
Less: business taxes and related surcharges | (14,380,469) | (9,547,102) | (5,068,066) |
Net revenues | 247,868,092 | 163,771,833 | 86,695,506 |
Operating cost and expenses: | |||
Relationship manager compensation | (52,246,943) | (33,436,866) | (17,551,483) |
Performance fee compensation | (3,536,240) | ||
Other compensations | (63,826,889) | (39,606,754) | (24,823,446) |
Total compensation and benefits | (119,610,072) | (73,043,620) | (42,374,929) |
Selling expenses | (23,896,620) | (16,660,044) | (13,449,421) |
General and administrative expenses | (24,611,880) | (18,087,184) | (8,901,330) |
Other operating expenses | (4,861,700) | (734,300) | (419,822) |
Government subsidies | 14,792,142 | 5,323,670 | 4,295,029 |
Total operating cost and expenses | (158,188,130) | (103,201,478) | (60,850,473) |
Income from operations | 89,679,962 | 60,570,355 | 25,845,033 |
Other income (expenses): | |||
Interest income | 6,312,498 | 3,302,545 | 2,451,731 |
Investment income | 3,821,469 | 3,924,457 | 3,044,856 |
Foreign exchange (loss) gain | 115,824 | 308,717 | (180,856) |
Other income (expense) | (2,386,171) | 3,423 | 110,690 |
Total other income | 7,863,620 | 7,539,142 | 5,426,421 |
Income before taxes and income from equity in affiliates | 97,543,582 | 68,109,497 | 31,271,454 |
Income tax expense | (24,531,504) | (16,263,292) | (8,979,649) |
Income from equity in affiliates, net of taxes | 2,200,504 | 1,191,833 | 617,361 |
Net income | 75,212,582 | 53,038,038 | 22,909,166 |
Less: net income attributable to non-controlling interests | 2,806,078 | 1,602,867 | 82,712 |
Net income attributable to Noah Holdings Limited shareholders | 72,406,504 | 51,435,171 | 22,826,454 |
Net income per share: | |||
Basic | $ 2.60 | $ 1.87 | $ 0.82 |
Diluted | $ 2.57 | $ 1.84 | $ 0.81 |
Weighted average number of shares used in computation: | |||
Basic | 27,873,501 | 27,480,150 | 27,751,335 |
Diluted | 28,227,823 | 28,008,386 | 28,073,731 |
One Time Commissions
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Revenues: | |||
Total third-party revenues | 68,698,354 | 57,972,609 | 39,486,943 |
Total related party revenues | 29,322,581 | 20,841,594 | 9,392,131 |
Recurring Service Fees
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Revenues: | |||
Total third-party revenues | 51,892,138 | 32,951,345 | 25,321,982 |
Total related party revenues | 90,885,669 | 55,508,435 | 16,590,593 |
Other Service
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Revenues: | |||
Total third-party revenues | 8,864,477 | 5,065,113 | 971,923 |
Total related party revenues | $ 12,585,342 | $ 979,839 |
X | ||||||||||
- Definition
Business Tax And Surcharges No definition available.
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X | ||||||||||
- Definition
Government Subsidies No definition available.
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X | ||||||||||
- Definition
Gross Revenue No definition available.
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- Details
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X | ||||||||||
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Expenditures for salaries of officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of payroll tax expense, compensation, postemployment and benefit-related expenses not elsewhere specified in the taxonomy (such as health plan, profit sharing, incentives, tuition reimbursement, other fringe benefits and perquisites) incurred in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Expenditures for salaries for officers and non-officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. No definition available.
|
X | ||||||||||
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Consolidated Statements of Comprehensive Income (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Net income | $ 75,212,582 | $ 53,038,038 | $ 22,909,166 |
Other comprehensive income, net of tax | |||
Change in foreign currency translation adjustment | (5,163,862) | 4,508,372 | 1,370,387 |
Fair value fluctuation of available-for-sale investment | 422,324 | ||
Other comprehensive income | (4,741,538) | 4,508,372 | 1,370,387 |
Comprehensive income | 70,471,044 | 57,546,410 | 24,279,553 |
Less: comprehensive income attributable to non-controlling interest | 2,227,448 | 1,880,168 | 116,371 |
Comprehensive income attributable to Noah Holdings Limited shareholders | $ 68,243,596 | $ 55,666,242 | $ 24,163,182 |
X | ||||||||||
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Change in noncontrolling interests. No definition available.
|
X | ||||||||||
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of paid and unpaid cash dividends declared for classes of stock, for example, but not limited to, common and preferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities and unrealized holding gain (loss) related to transfers of securities into the available-for-sale classification and out of the held-to-maturity classification. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Acquisition of Treasury Stock No definition available.
|
X | ||||||||||
- Definition
The net change during the period in the amount recognized for uncertain tax positions. No definition available.
|
X | ||||||||||
- Definition
Increase Decrease In Short Term Investments No definition available.
|
X | ||||||||||
- Definition
The net cash inflow (outflow) associated with the acquisition or disposal of all other investment such as debt, security and so forth during the period. No definition available.
|
X | ||||||||||
- Definition
Provision for Loan and Lease Losses, Net Of Recovery Of Bad Debts No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the 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. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other current operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating assets not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of accretion of purchase discount on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow through purchase of long-term held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for the purchase of loan receivable arising from the financing of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, beyond the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the long-term. No definition available.
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
X | ||||||||||
- Definition
The cash inflow associated with the collection, including prepayments, of loans receivable issued for financing of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations that are returns of capital. Excludes dividends or distributions from equity method investments classified as operating activities. No definition available.
|
X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from maturities, prepayments, calls and collections of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow from a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale of securities that had been designated as held-to-maturity. Excludes proceeds from maturities, prepayments and calls by the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
X | ||||||||||
- Definition
The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Organization and Principal Activities
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Organization and Principal Activities | 1. Organization and Principal Activities Noah Holdings Limited (“Company”) was incorporated on June 29, 2007 in the Cayman Islands by six individuals (the “Founders”). The Company, through its subsidiaries and consolidated variable interest entities (“VIEs”) (collectively, the “Group”), is a leading wealth management service provider with asset management capability focusing on distributing wealth management products to the high net worth population in the People’s Republic of China (“PRC”). The Group began offering services in 2005 through Shanghai Noah Investment Management Co., Ltd. (“Noah Investment”), a consolidated variable interest entity, founded in the PRC in August 2005. The Company’s significant subsidiaries as of December 31, 2014 include the following:
Noah Investment’s significant subsidiaries as of December 31, 2014 include the following:
In June 2014, Gopher Asset acquired 100% equity interest of Tianjin Gopher from Noah Investment at cost. The transaction was recorded as reorganization between entities under common control with no impact on the consolidated financial statements. |
X | ||||||||||
- Definition
The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Principal Accounting Policies
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Summary of Principal Accounting Policies | 2. Summary of Principal Accounting Policies (a) Basis of Presentation The consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
(b) Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries and consolidated VIEs. All inter-company transactions and balances have been eliminated upon consolidation. A consolidated subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power or has the power to: appoint or remove the majority of the members of the board of directors; cast a majority of votes at the meeting of the board of directors; or govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. US GAAP provides guidance on the identification and financial reporting for entities over which control is achieved through means other than voting interests. The Group evaluates each of its interests in private companies to determine whether or not the investee is a VIE and, if so, whether the Group is the primary beneficiary of such VIE. In determining whether the Group is the primary beneficiary, the Group considers if the Group (1) has power to direct the activities that most significantly affects the economic performance of the VIE, and (2) receives the economic benefits of the VIE that could be significant to the VIE. If deemed the primary beneficiary, the Group consolidates the VIE. As foreign-invested companies engaged in insurance brokerage business are subject to stringent requirements compared with Chinese domestic enterprises under the current PRC laws and regulations, the Company’s PRC subsidiary, Shanghai Noah Rongyao Investment Consulting Co., Ltd. (“Noah Rongyao”), and its subsidiaries, as foreign-invested companies, do not meet all such requirements and therefore none of them are permitted to engage in the insurance brokerage business in China. Therefore, the Company decided to conduct the insurance brokerage business in China through Noah Investment and its subsidiaries which are PRC domestic companies beneficially owned by the Founders. In addition, the Group engaged in mutual fund distribution business and distribution of asset management plans sponsored by mutual fund management companies as part of our business. Under PRC laws and regulations, distribution of mutual funds or asset management plans sponsored by mutual fund management companies requires a mutual fund distribution license. There may be uncertainties regarding the interpretation and application of regulations and other governmental policies regarding the issuance of a mutual fund distribution license. In addition, the approval authorities have broad discretion and may also provide the different requirements regarding the application of mutual fund distribution license according to different situations, such as the applicants are foreign-invested enterprises or their subsidiaries. As a result, the PRC subsidiaries may find it difficult to meet all such requirements or may have to incur significant costs and efforts to meet such requirements. Therefore, the Company conducts such business in China principally through contractual arrangements among our PRC subsidiary, Noah Rongyao and the Company’s PRC variable interest entity, Noah Investment, and Noah Investment’s shareholders. Noah Upright, a subsidiary of Noah Investment, holds the licenses and permits necessary to conduct mutual fund distribution and distribution of asset management plans sponsored by mutual fund management companies in China. Since the Company does not have any equity interests in Noah Investment, in order to exercise effective control over its operations, the Company, through its wholly owned subsidiary Noah Rongyao, entered into a series of contractual arrangements with Noah Investment and its shareholders, pursuant to which the Company is entitled to receive effectively all economic benefits generated from Noah Investment shareholders’ equity interests in it. These contractual arrangements include: (i) a Power of Attorney Agreement under which each shareholder of Noah Investment has executed a power of attorney to grant Noah Rongyao or its designee the power of attorney to act on his or her behalf on all matters pertaining to Noah Investment and to exercise all of his or her rights as a shareholder of the Company, (ii) an Exclusive Option Agreement under which the shareholders granted Noah Investment or its third-party designee an irrevocable and exclusive option to purchase their equity interests in Noah Investment when and to the extent permitted by PRC law, (iii) an Exclusive Support Service Agreement under which Noah Investment engages Noah Rongyao as its exclusive technical and operational consultant and under which Noah Rongyao agrees to assist in arranging the financial support necessary to conduct Noah Investment’s operational activities, (iv) a Share Pledge Agreement under which the shareholders pledged all of their equity interests in Noah Investment to Noah Rongyao as collateral to secure their obligations under the agreement, and (v) a Free-Interest Loan Agreement under which each shareholder of Noah Investment entered into a loan agreement with Noah Rongyao for their respective investment in the equity interests in Noah Investment. The total amount of interest-free loans extended to the Founders is RMB27 million (approximately $3.6 million) which has been injected into Noah Investment. The Founders of Noah Investment effectively acted as a conduit to fund the required capital contributions from the Company into Noah Rongyao, are non-substantive shareholders and received no consideration for entering into such transactions. Under the above agreements, the shareholders of Noah Investment irrevocably granted Noah Rongyao the power to exercise all voting rights to which they were entitled. In December 2013, these loans were further restructured and each shareholder of Noah Investment re-entered into a new no-interest loan agreement with Noah Rongyao. The principal amounts of such no-interest loans to these shareholders were the same as that of the initial loans. The loan agreements will expire in December 2023. In addition, Noah Rongyao has the option to acquire all of the equity interests in Noah Investment, to the extent permitted by the then-effective PRC laws and regulations, for nominal consideration. Finally, Noah Rongyao is entitled to receive service fees for certain services to be provided to Noah Investment.
The Exclusive Option Agreement and Power of Attorney Agreements provide the Company effective control over the VIE and its subsidiaries, while the equity pledge agreements secure the equity owners’ obligations under the relevant agreements. Because the Company, through Noah Rongyao, has (i) the power to direct the activities of Noah Investment that most significantly affect the entity’s economic performance and (ii) the right to receive substantially all of the benefits from Noah Investment, the Company is deemed the primary beneficiary of Noah Investment. Accordingly, the Group has consolidated the financial statements of Noah Investment since its inception. The aforementioned contractual agreements are effective agreements between a parent and a consolidated subsidiary, neither of which is accounted for in the consolidated financial statements (i.e. a call option on subsidiary shares under the Exclusive Option Agreement or a guarantee of subsidiary performance under the Share Pledge Agreement) or are ultimately eliminated upon consolidation (i.e. service fees under the Exclusive Support Service Agreement or loans payable/receivable under the Loan Agreement). The Company believes that these contractual arrangements are in compliance with PRC laws and regulations and are legally enforceable. The addition of mutual fund business under Noah Investment and the transfer of Tianjin Gopher and Gopher Asset from Noah Rongyao to Noah Investment in 2012 do not impact the legal effectiveness of these contractual arrangements and do not impact the conclusion that the Company is the primary beneficiary of Noah Investment and its subsidiaries. However, the aforementioned contractual arrangements with Noah Investment and its shareholders are subject to risks and uncertainties, including:
The following amounts of Noah Investment and its subsidiaries were included in the Group’s consolidated financial statements:
The VIEs contributed an aggregate of 8.3%, 21.2% and 37.1% of the consolidated net revenues for the years ended December 31, 2012, 2013 and 2014, respectively and an aggregate of 5.1%, 36.3% and 67.0% of the consolidated net income for the years ended December 31, 2012, 2013 and 2014, respectively. As of December 31, 2013 and 2014, the VIEs accounted for an aggregate of 30.7% and 34.0%, respectively, of the consolidated total assets.
There are no consolidated assets of the VIEs and their subsidiaries that are collateral for the obligations of the VIEs and their subsidiaries and can only be used to settle the obligations of the VIEs and their subsidiaries. There are no terms in any arrangements, considering both explicit arrangements and implicit variable interests that require the Company or its subsidiaries to provide financial support to the VIEs. However, if the VIEs ever need financial support, the Company or its subsidiaries may, at its option and subject to statutory limits and restrictions, provide financial support to its VIEs through loans to the shareholder of the VIEs or entrustment loans to the VIEs. Relevant PRC laws and regulations restrict the VIEs from transferring a portion of their net assets, equivalent to the balance of its statutory reserve and its share capital, to the Company in the form of loans and advances or cash dividends. Please refer to Note 13 for disclosure of restricted net assets. (c) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ materially from such estimates. Significant accounting estimates reflected in the Group’s consolidated financial statements include assumptions used to determine the liability for uncertain tax positions, valuation allowance for deferred tax assets, allowance for accounts receivable, allowance for loan losses, fair value measurement of underlying investment portfolios of the funds that the Group invests, assumptions related to the consolidation of entities in which the Group holds variable interests, assumptions related to the valuation of share-based compensation, including estimation of related forfeiture rates and assumption related to valuation of investments. (d) Concentration of Credit Risk The Group is subject to potential significant concentrations of credit risk consisting principally of cash and cash equivalents, accounts receivable and investments. All of the Group’s cash and cash equivalents and a majority of investments are held with financial institutions that Group management believes to be high credit quality. In addition, the Group’s investment policy limits its exposure to concentrations of credit risk. Substantially all revenues were generated within China. There were no product providers or underlying corporate borrowers which accounted for 10% or more of total revenues for the years ended December 31, 2012, 2013, and 2014. Credit of small loan business is controlled by the application of credit approvals, limits and monitoring procedures. To minimize credit risk, the Group requires collateral in form of right to securities. The Group identifies credit risk on a customer by customer basis. The information is monitored regularly by management. (e) Investments in Affiliates Affiliated companies are entities over which the Group has significant influence, but which it does not control. The Group generally considers an ownership interest of 20% or higher to represent significant influence. Investments in affiliates are accounted for by the equity method of accounting. Under this method, the Group’s share of the post-acquisition profits or losses of affiliated companies is recognized in the statements of operations and its shares of post-acquisition movements in other comprehensive income are recognized in other comprehensive income. Unrealized gains on transactions between the Group and its affiliated companies are eliminated to the extent of the Group’s interest in the affiliated companies; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. When the Group’s share of losses in an affiliated company equals or exceeds its interest in the affiliated company, the Group does not recognize further losses, unless the Group has incurred obligations or made payments on behalf of the affiliated company. An impairment loss is recorded when there has been a loss in value of the investment that is other than temporary. The Group has not recorded any impairment losses in any of the periods reported. The Group also considers it has significant influence over the funds of funds and real estate funds that it serves as general partner, and the Group’s ownership interest in these funds as limited partner is generally much lower than 20%. These funds are not consolidated by the Group based on the facts that the Group is not the primary beneficiary of these funds, and substantive kick-out rights exist which are exercisable by a simple-majority of non-related limited partners of these funds to dissolve (liquidate) the funds or remove the company as the general partner of the funds without cause. The equity method of accounting is accordingly used for investments by the Group in these funds. In addition, the investee funds meet the definition of an Investment Company and are required to report their investment assets at fair value. The Group records its equity pick-up based on its percentage ownership of the investee funds’ operating result.
In 2010, Tianjin Gopher invested in four funds of private equity funds newly established in 2010; in 2011, Tianjin Gopher invested in six funds of private equity funds newly established in 2011; in 2012, Tianjin Gopher invested in one fund of private equity funds newly established in 2012. Tianjin Gopher held 0.6% to 4.8% equity interests in these funds as a general partner. In 2012, Gopher Asset and its subsidiaries invested in two private equity funds of funds, thirty-eight real estate funds and real estate funds of funds newly established in 2012; in 2013, Gopher Asset and its subsidiaries invested in three private equity funds of funds, seventy-five real estate funds and real estate funds of funds, two secondary market equity funds of funds and eight other fixed income funds of funds newly established in 2013. Gopher Asset held no more than 2.3% equity interests in these real estate funds and real estate funds of funds and no more than 5.0% equity interest in these private equity funds of funds as a general partner. In 2014, Gopher Asset and its subsidiaries invested in sixteen private equity funds of funds, fourteen real estate funds and real estate funds of funds, fifteen secondary market equity funds of funds and twelve other fixed income funds of funds newly established in 2014. Gopher Asset held no more than 1.7% equity interests in these real estate funds and no more than 5.0% equity interest in these real estate funds of funds and private equity funds of funds as a general partner. In May 2011, Tianjin Gopher injected RMB 4.0 million (approximately $0.6 million) into Kunshan Jingzhao Equity Investment Management Co., Ltd (“Kunshan Jingzhao”), a newly setup joint venture, for 40% of the equity interest. Kunshan Jingzhao principally engages in real estate fund management business. In November 2012, Gopher Asset injected RMB 3.8 million (approximately $0.6 million) into Kunshan Vantone Zhengyuan Private Equity Fund Management Co., Ltd (“Kunshan Vantone”), a newly established joint venture, for 15% of the equity interest. Kunshan Vantone principally engages in private equity fund management businesses. The Group considers it has significant influences over Kunshan Vantone due to its voting rights in its board of directors. In February 2013, Gopher Asset injected RMB 21.0 million (approximately $3.5 million) into Wanjia Win-Win Assets Management Co., Ltd (“Wanjia Win-Win”), a newly setup joint venture, for 35% of the equity interest. Wanjia Win-Win principally engages in wealth management plan management business. In July 2013, Gopher Asset injected RMB 0.8 million (approximately $0.1 million) into Wuhu Bona Film Investment Management Co., Ltd. (“Wuhu Bona”), a newly established joint venture, for 15% of the equity interest. Wuhu Bona principally engages in film private equity fund management businesses. The Group considers it has significant influences over Wuhu Bona due to its voting rights in its board of directors. The Group accounts for these investments using the equity method of accounting due to the fact that the Company has significant influence on these investees. The Group recorded investments in affiliates of $14,742,364 and $35,817,261 as of December 31, 2013 and 2014, respectively and income from equity in affiliates of $617,361, $1,191,833 and $2,200,504 for the years ended December 31, 2012, 2013 and 2014, respectively. (f) Internal-use Software Certain direct development costs associated with internal use software are capitalized and mainly include payroll costs for employees devoting time to the software projects principally related to software coding, system interface design and installation and software testing. The capitalized costs are amortized using the straight-line method over an estimated life of two to four years, from the date when the asset is substantially ready for use. Costs related to preliminary project activities and post implementation activities are expensed as incurred. (g) Fair Value of Financial Instruments The Group records certain of its financial assets and liabilities at fair value on a recurring basis. 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 asset or liability. 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. The hierarchy is as follows: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. (h) Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less when purchased. (i) Restricted Cash The Group’s restricted cash primarily represents cash deposits required by China Insurance Regulatory Commission for entities engaging in insurance agency or brokering activities in China. Such cash cannot be withdrawn without the written approval of the China Insurance Regulatory Commission. Funds that are raised on behalf of investors, prior to the establishment of certain third party investment vehicles, are legally segregated from the Group and will be transferred to such investment vehicles upon formation. (j) Investments The Group invests in debt securities and equity securities and accounts for the investments based on the nature of the products invested, and the Group’s intent and ability to hold the investments to maturity. The Group’s investments in debt securities include marketable bond fund securities, trust products, asset management plans and real estate funds those have a stated maturity and normally pay a prospective fixed rate of return. The Group classifies the investments in debt securities as held-to-maturity when it has both the positive intent and ability to hold them until maturity. Held-to-maturity investments are recorded at amortized cost and are classified as long-term or short-term according to their contractual maturity. Long-term investments are reclassified as short-term when their contractual maturity date is less than one year. Investments that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value with changes in fair value recognized in earnings. Investments that do not meet the criteria of held-to-maturity or trading securities are classified as available-for-sale, and are reported at fair value with changes in fair value deferred in other comprehensive income. The Group records investments in private equity funds under the cost method when they do not qualify for the equity method. Gains or losses are realized when such investments are sold. The Group reviews its investments except for those classified as trading securities for other-than-temporary impairment based on the specific identification method and considers available quantitative and qualitative evidence in evaluating potential impairment. If the cost of an investment exceeds the investment’s fair value, the Group considers, among other factors, general market conditions, government economic plans, the duration and the extent to which the fair value of the investment is less than cost and the Group’s intent and ability to hold the investment to determine whether an other-than-temporary impairment has occurred. The Group recognizes other-than-temporary impairment in earnings if it has the intent to sell the debt security or if it is more-likely-than-not that it will be required to sell the debt security before recovery of its amortized cost basis. Additionally, the Group evaluates expected cash flows to be received and determines if credit-related losses on debt securities exist, which are considered to be other-than-temporary, should be recognized in earnings. If the investment’s fair value is less than the cost of an investment and the Group determines the impairment to be other-than-temporary, the Group recognizes an impairment loss based on the fair value of the investment. To date, the Group has not recorded an other-than-temporary impairment. (k) Non-controlling interests A non-controlling interest in a subsidiary of the Group represents the portion of the equity (net assets) in the subsidiary not directly or indirectly attributable to the Group. Non-controlling interests are presented as a separate component of equity in the consolidated balance sheet and earnings and other comprehensive income are attributed to controlling and non-controlling interests. The non-controlling interest was $10,769,789 and $14,028,321, respectively as of December 31, 2013 and 2014 and the net income attributable to non-controlling interest was $82,712, $1,602,867 and $2,806,078, respectively for years ended December 31, 2012, 2013 and 2014.
(l) Property and Equipment, net Property and equipment is stated at cost less accumulated depreciation, and is depreciated using the straight-line method over the following estimated useful lives:
Gains and losses from the disposal of property and equipment are included in income from operations. (m) Revenue Recognition The Group derives revenue primarily from one-time commissions and recurring service fees paid by product providers or underlying corporate borrowers. The Group recognizes revenues when there is persuasive evidence of an arrangement, service has been rendered, the sales price is fixed or determinable and collectability is reasonably assured. Prior to a client’s purchase of a wealth management product, the Group provides the client with a wide spectrum of consultation services, including product selection, review, risk profile assessment and evaluation and recommendation for the client. Revenues are recorded, net of sales related taxes and surcharges. One-time Commissions The Group enters into one-time commission agreements with product providers or underlying corporate borrowers, which specifies the key terms and conditions of the arrangement. Such agreements do not include rights of return, credits or discounts, rebates, price protection or other similar privileges. Upon establishment of a wealth management product, the Group earns a one-time commission from product providers or underlying corporate borrowers, calculated as a percentage of the wealth management products purchased by its clients. The Group defines the “establishment of a wealth management product” for its revenue recognition purpose as the time when both of the following two criteria are met: (1) the Group’s client has entered into a purchase or subscription contract with the relevant product provider and, if required, the client has transferred a deposit to an escrow account designated by the product provider and (2) the product provider has issued a formal notice to confirm the establishment of a wealth management product. Revenue is recorded upon the establishment of the wealth management product, when the provision of service concludes and the fee becomes fixed and determinable, assuming all other revenue recognition criteria have been met, and there are no future obligations or contingencies. Certain contracts require a portion of the payment be deferred until the end of the wealth management products’ life or other specified contingency. In such instances, the Group defers the contingent amount until the contingency has been resolved. A small portion of the Group’s one-time commission arrangements require the provision of certain after sales activities, which primarily relate to disseminating information to clients related to investment performance. The Group accrues the estimated cost of providing these services, which are inconsequential, when the one-time commission is earned as the services to be provided are substantially complete. The Group has historically completed the after sales services in a timely manner and can reliably estimate the remaining costs. Recurring Service Fees Recurring service fees from product providers depend on the type of wealth management product the Group’s client purchased and are calculated as either (i) a percentage of the total value of investments in the wealth management products purchased by the Group’s clients, calculated at the establishment date of the wealth management product or (ii) as a percentage of the fair value of the total investment in the wealth management product, calculated daily. As the Group provides these services throughout the contract term, for either method of calculation, revenue is recognized on a daily basis over the contract term, assuming all other revenue recognition criteria have been met. Recurring service agreements do not include rights of return, credits or discounts, rebates, price protection or other similar privileges. Multiple Element Arrangements The Group enters into multiple element arrangements when a product provider or underlying corporate borrower engages it to provide both wealth management marketing and recurring services. The Group also provides both wealth management marketing and recurring services to funds of private equity funds and real estate funds that it serves as general partner.
The Group allocates arrangement consideration in multiple-deliverable revenue arrangements at the inception of an arrangement to all deliverables based on the relative selling price in accordance with the selling price hierarchy, which includes: (i) vendor-specific objective evidence (“VSOE”) if available; (ii) third-party evidence (“TPE”) if VSOE is not available; and (iii) best estimate of selling price (“BESP”) if neither VSOE nor TPE is available. VSOE. The Group determines VSOE based on its historical pricing and discounting practices for the specific service when sold separately. In determining VSOE, the Group requires that a substantial majority of the selling prices for these services fall within a reasonably narrow pricing range. TPE. When VSOE cannot be established for deliverables in multiple element arrangements, the Group applies judgment with respect to whether it can establish a selling price based on TPE. TPE is determined based on competitor prices for similar deliverables when sold separately. Generally, the Group’s products and services contain certain level of differentiation such that the comparable pricing of services with similar functionality cannot be obtained. Furthermore, the Group is unable to reliably determine what similar competitor services’ selling prices are on a stand-alone basis. As a result, the Group has not been able to establish selling price based on TPE. BESP. When it is unable to establish selling price using VSOE or TPE, the Group uses BESP in its allocation of arrangement consideration. The objective of BESP is to determine the price at which the Group would transact a sale if the service were sold on a stand-alone basis. The Group determines BESP for deliverables by considering multiple factors including, but not limited to, prices it charged for similar offerings, market conditions, specification of the services rendered and pricing practices. The Group has used BESP to allocate the selling price of wealth management marketing service and recurring services under these multiple element arrangements. The Group has vendor specific objective evidence of fair value for its wealth management marketing services as it provides such services on a stand-alone basis. The Group has not sold its recurring services on a stand-alone basis. However, the fee to which the Group is entitled is consistently priced at a fixed percentage of the management fee obtained by the fund managers irrespective of the fee obtained for the wealth management marketing services. The recurring service fee the Group charges as general partner is consistent with the management fee obtained by the fund managers irrespective of the fee obtained for the wealth management marketing services. As such, the Group has established fair value as relative charges that are consistent with management fee in such arrangements and believes it represents their best estimate of the selling price at which they would transact if the recurring services were sold regularly on a stand-alone basis. The Group allocates arrangement consideration based on fair value, which is equivalent to the percentages charged for each of the respective units of accounting, as described above. Revenue for the respective units of accounting is also recognized in the same manner as described above. If the estimated selling price for recurring services increased (or decreased) by 1%, the revenue allocated to this revenue element would increase (decrease) by 0.1% to 0.7%. Other Service Fees The Group also derived revenues from small short-term loan, internet finance business, performance based income of the funds it serves as fund managers and other businesses, which were recorded as other service fees and represented 0.63%, 0.48%, 6.20% and 0.87% of the Group’s total net revenue for the year ended December 31, 2014. From November 2013, the Group started offering small short-term loan services. Revenue is recognized when there are probable economic benefits to the Group and when the revenue can be measured reliably. Interest on loan receivables is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Group does not charge prepayment penalty from customers. In 2014, the Group started internet finance business to provide financial products and services to high net worth individuals as well as white-collar professionals in China through its proprietary internet financial platforms. Revenues derived from internet finance business is recorded in other service fees. (n) Business Tax and Related Surcharges The Group is subject to business tax, education surtax, and urban maintenance and construction tax, on the services provided in the PRC. Business tax and related surcharges are primarily levied based on revenues concurrent with a specific revenue-producing transaction at combined rates ranging from 5.35% to 5.70%. They can be presented either on a gross basis (included in revenues and costs) or on a net basis (excluded from revenue) at the Company’s accounting policy decision under U.S. GAAP. The Company has elected to report such business tax and related surcharges on a net basis as a reduction of revenues.
(o) Cost of Revenues Cost of revenue includes salaries and performance-based commissions of relationship managers and expenses incurred in connection with product-specific client meetings and other events. (p) Income Taxes Current income taxes are provided for in accordance with the relevant statutory tax laws and regulations. The Group accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Group recognizes net deferred tax assets to the extent that it believes these assets are more likely than not to be realized. In making such a determination, it considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Group determines that its deferred tax assets are realizable in the future in excess of their net recorded amount, the Group would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Group records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Group recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The liability associated with unrecognized tax benefits is adjusted periodically due to changing circumstances, such as the progress of tax audits, case law developments and new or emerging legislation. Such adjustments are recognized entirely in the period in which they are identified. The effective tax rate for the Group includes the net impact of changes in the liability for unrecognized tax benefits and subsequent adjustments as considered appropriate by management. The Group recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statement of Operations. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheet. (q) Share-Based Compensation The Group recognizes share-based compensation based on the fair value of equity awards on the date of the grant, with compensation expense recognized using a straight-line vesting method over the requisite service periods of the awards, which is generally the vesting period. The Group estimates the fair value of share options granted using the Black-Scholes option pricing model. The expected term represents the period that share-based awards are expected to be outstanding, giving consideration to the contractual terms of the share-based awards, vesting schedules and expectations of future employee exercise behavior. The computation of expected volatility is based on a combination of the historical and implied volatility of comparable companies from a representative peer group based on industry. Management estimates expected forfeitures and recognizes compensation costs only for those share-based awards expected to vest. Amortization of share-based compensation is presented in the same line item in the consolidated statements of operations as the cash compensation of those employees receiving the award. (r) Government Grants Government subsidies include cash subsidies received by the Group’s entities in the PRC from local governments as incentives for investing in certain local districts, and are typically granted based on the amount of investment made by the Group in form of registered capital or taxable income generated by the Group in these local districts. Such subsidies allow the Group full discretion in utilizing the funds and are used by the Group for general corporate purposes. The local governments have final discretion as to whether the Group has met all criteria to be entitled to the subsidies. The Group does not in all instances receive written confirmation from local governments indicating the approval of the cash subsidy before cash is received. Cash subsidies of $4,295,029, $5,323,670 and $14,792,142 are included in other operating income for the years ended December 31, 2012, 2013 and 2014, respectively. Cash subsidies are recognized when received and when all the conditions for their receipt have been satisfied. (s) Net Income per Share Basic net income per share is computed by dividing net income attributable to ordinary shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised into ordinary shares. Common share equivalents are excluded from the computation of the diluted net income per share in years when their effect would be anti-dilutive.
Diluted net income per share is computed by giving effect to all potential dilutive shares, including non-vested restricted shares and options. (t) Operating Leases Leases where substantially all the rewards and risks of ownership of assets remain with the leasing company are accounted for as operating leases. Certain of the Group’s facility leases provide for a free rent period. Payments made under operating leases are charged to the consolidated statements of operations on a straight-line basis over the lease period. (u) Foreign Currency Translation The functional currency of the Company is the United States dollar (“U.S. dollar”) and is used as the reporting currency of the Group. Monetary assets and liabilities of the Group’s PRC entities denominated in currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange ruling at the balance sheet date. Equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as foreign currency translation adjustment and are shown as a separate component of other comprehensive income in the consolidated statements of comprehensive income. The financial records of the Group’s PRC entities are maintained in local currencies other than the U.S. dollar, such as Renminbi (“RMB”), which are their functional currencies. Transactions in other currencies are recorded at the rates of exchange prevailing when the transactions occur. (v) Comprehensive Income Comprehensive income includes all changes in equity except those resulting from investments by owners and distributions to owners. For the years presented, total comprehensive income included net income and foreign currency translation adjustments. (w) Loans receivable, net Loans receivable represent loan amount due from clients. Loans receivable are initially recognized at fair value which is the cash disbursed to originate loans, measured subsequently at amortized cost using the effective interest method, net of allowance that reflects the Company’s best estimate of the amounts that will not be collected. (x) Allowance for loan losses The allowance for loan losses is maintained at a level believed to be reasonable by management to absorb probable losses inherent in the portfolio as of each balance sheet date. The allowance is based on factors such as the size and current risk characteristics of the portfolio, an assessment of individual problem loans and actual loss, delinquency, and/or risk rating experience within the portfolio. The Company evaluates its allowance for loan losses on a quarterly basis or more often as deemed necessary. In addition, the Company also calculates the provision amount in accordance with PRC regulation “The Guidance for Loan Losses” issued by People’s Bank of China (“PBOC”) and is applied to all financial institutes as below:
Due to the short term nature of the loans receivable and based on the Company’s past loan loss experience, the Company only includes General Reserve in the loan loss reserve. To the extent the mandatory loan loss reserve rate as required by PBOC differs from management’s estimates, the management elects to use the higher rate.
(y) Recently issued accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) and International Accounting Standards Board (“IASB”) issued their converged standard on revenue recognition. The objective of the revenue standard Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” is to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. For public companies, the revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Group is in the process of evaluating the impact of the standard on its consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, ‘‘Amendments to the Consolidation Analysis’’, regarding consolidation of legal entities such as limited partnerships, limited liability corporations, and securitization structures. The guidance eliminates the deferral issued by the FASB in February 2010 of the accounting guidance for VIE for certain investment funds, including mutual funds, private equity funds and hedge funds. In addition, the guidance amends the evaluation of fees paid to a decision maker or a service provider, and exempts certain money market funds from consolidation. The guidance will be effective for accounting periods beginning after December 15, 2015 with early adoption permitted. The Group is currently evaluating the potential impact on the Group’s consolidated financial statements. In November 2014, the FASB issued a new pronouncement which provides guidance on determining whether the host contract in a hybrid financial instrument issued in the form of a share is more akin to debt or to equity. The new standard requires management to determine the nature of the host contract by considering the economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption, including adoption in an interim period, is permitted. The effects of initially adopting the amendments in this Update should be applied on a modified retrospective basis to existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are effective. The Group is assessing the effect of adoption of this guidance on the Group’s consolidated financial statements. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income per Share
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Net Income per Share | 3. Net Income per Share The following table sets forth the computation of basic and diluted net income per share attributable to ordinary shareholders:
Diluted net income per share does not include the following instruments as their inclusion would be antidilutive:
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments
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Investments | 4. Investments The following table summarizes the Group’s investment balances:
Held-to-maturity investments consist of investments in fixed income products and other products that have stated maturity and normally pay a prospective fixed rate of return, carried at amortized cost. The Group recorded investment income on these products of $3,044,856, $2,510,647 and $2,027,454 for the years ended December 31, 2012, 2013 and 2014, respectively. Interest receivable on the products was $539,586, $856,068 and $862,001 as of December 31, 2012, 2013 and 2014, respectively. Of the long-term held-to-maturity investments, $2,095,220, $1,450,536 and $1,611,708 will mature in 2016, 2017 and 2019, respectively. Held-to-maturity investments include investments in debt securities of certain real estate funds managed by the Group of $11,917,947, $7,100,203 and nil as of December 31, 2012, 2013 and 2014, respectively. Trading securities investments consist of investments in fixed income products and other products that have stated maturity and normally pay a prospective fixed rate of return. These investments are recorded at fair value on a recurring basis. The fair value is measured using discounted cash flow model based on contractual cash flow and a discount rate of prevailing market yield for products with similar terms as of the measurement date, as such; it is classified within Level 2 measurement. The Group recorded investment income on these investments of nil, $1,413,810 and $1,390,200 for the years ended December 31, 2012, 2013 and 2014, respectively. Available-for-sale investments consist of investments in fixed income products and other products that have stated maturity and normally pay a prospective fixed rate of return, carried at fair value. Changes in fair value of the available-for-sale investments for the year ended December 31, 2014 was $832,372, recorded in the other comprehensive income, of which $ 410,048 was realized and reclassified from other comprehensive income to “investment income” in the consolidated statements of operations during the year. As of December 31, 2014, the net unrealized gain remained in other comprehensive income was $422,324. The amortized cost of the available-for-sale investments as of December 31, 2014 was $14,324,227. There’s no investment with realized or unrealized losses during the periods presented. Other long-term investments consist of investments in 3 private equity funds as a limited partner with less than 3% equity interest and equity investments of series B preferred share in PPDAI Group Inc. In 2014, the Company also invested US$ 2,224,999 in PPDAI Group Inc., by subscribing and purchasing Series B Preferred Shares, representing 2.62% of the investee’s issued share capital. PPDAI Group Inc. is a private entity primarily engaged in the P2P internet lending business. The Group accounted for these private equity funds investments and equity investment in private entity using the cost method of accounting due to the fact that the Group has no significant influence on the investees. |
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The entire disclosure for investments, including all tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurement
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Fair Value Measurement | 5. Fair Value Measurement As of December 31, 2013 and December 31, 2014, information about inputs into the fair value measurements of the Company’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:
Trading securities investments and available-for-sale investment consist of investments in trust products, asset management plans and real estate funds that have stated maturity and normally pay a prospective fixed rate of return. These investments are recorded at fair value on a recurring basis. The fair value is measured using discounted cash flow model based on contractual cash flow and a discount rate of prevailing market yield for products with similar terms as of the measurement date, as such, it is classified within Level 2 measurement. The Company does not have assets or liabilities reported at fair value on a non-recurring basis during the periods presented. The Company also has financial instruments that are not reported at fair value on the consolidated balance sheet but whose fair values are required to be disclosed under ASC 825. The Group believes the fair value of its financial instruments: principally cash and cash equivalents, restricted cash, accounts receivable, amount due from related parties, short-term held-to-maturity investments, loans receivable, short-term bank loan and other payables approximate their recorded values due to the short-term nature of the instruments. The Group’s long-term investments consist of investment in private equity funds and held-to-maturity long-term fixed income products. As of December 31, 2013 and 2014, information about inputs into the fair value measurements of the Company’s long-term financial instruments that are not reported at fair value on balance sheet is as following:
For the long-term investment in private equity funds the fair value was determined based on the Group’s equity holding percentage multiplied by the fair value of the underlying funds available from the financial information of the funds. The fair value of the underlying investments in these funds was estimated via a discounted cash flow model, using unobservable inputs mainly including assumptions about expected future cash flows based on information supplied by investees, degree of liquidity in the current credit markets and discount rate, and is thus classified as a Level 3 fair value measurement. The fair value of the equity investment in the private entity is also estimated using discounted cash flow model and is classified as a level 3 fair value measurement. The fair value of long-term products was estimated using a discounted cash flow model based on contractual cash flows and a discount rate at the prevailing market yield on the measurement date for similar products, and is class classified as a Level 2 fair value measurement.
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property and Equipment, Net
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Property and Equipment, Net | 6. Property and Equipment, Net Property and equipment, net consists of the following:
Depreciation expense was $1,814,528, $2,469,922 and $ 3,635,799 for the years ended December 31, 2012, 2013 and 2014, respectively. |
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Current Liabilities
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Other Current Liabilities | 7. Other Current Liabilities Components of other current liabilities are as follows:
Accrued professional service fees mainly consist of payables for consulting fees, audit fees and legal fees. Accrued expense and other payables mainly consist of payables for marketing expenses. |
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The entire disclosure for other liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Income Taxes | 8. Income Taxes Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on its income or capital gains. In addition, the Cayman Islands do not impose withholding tax on dividend payments. Hong Kong Under the current Hong Kong Inland Revenue Ordinance, our subsidiaries established in Hong Kong are subject to 16.5% income tax on their taxable income generated from operations in Hong Kong. Under the Hong Kong tax laws, it is exempted from the Hong Kong income tax on its foreign-derived income. In addition, payments of dividends from our Hong Kong subsidiaries to us are not subject to any Hong Kong withholding tax. No provision for Hong Kong tax has been made in our consolidated financial statements, as our Hong Kong subsidiaries have not generated any assessable income for the years ended December 31, 2012, 2013 and 2014. PRC Under the Law of the People’s Republic of China on Enterprise Income Tax (“New EIT Law”), which was effective from January 1, 2008, domestically-owned enterprises and foreign-invested enterprises are subject to a uniform tax rate of 25%. The tax expense (benefit) comprises:
Reconciliation between the statutory tax rate to income before income taxes and the actual provision for income taxes is as follows:
The principal components of the deferred income tax asset and liabilities are as follows:
The Group considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will be more likely than not realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carry forward periods, the Group’s experience with tax attributes expiring unused and tax planning alternatives. These assumptions require significant judgment and the forecasts of future taxable income are consistent with the plans and estimates the Group is using to manage the underlying businesses. Valuation allowances are established for deferred tax assets based on a more likely than not threshold. The Group’s ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carry forward periods provided for in the tax law. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced. As of December 31, 2014, operating loss carry forward amounted to $3.6 million for the PRC and Hong Kong income tax purposes. The loss carrying forward will begin to expire in 2017. No valuation allowance was recorded for the years ended December 31, 2014 as it is determined that it is more likely than not that the relevant deferred tax asset will be realized. In accordance with the New EIT Law, dividends, which arise from profits of foreign-invested corporations earned after January 1, 2008, are subject to a 5% to 10% withholding income tax. A deferred tax liability should be recognized for the undistributed profits of PRC companies unless the Company has sufficient evidence to demonstrate that the undistributed dividends will be reinvested and the remittance of the dividends will be postponed indefinitely. The Group has both the intent and ability to permanently reinvest undistributed profits of approximately $190.7 million earned from its China subsidiaries. Therefore, no withholding income taxes for undistributed profits on such undistributed profits have been accrued as of December 31, 2014. Upon distribution of those earnings generated after January 1, 2008, in the form of dividends or otherwise, the Group would be subject to the then applicable PRC tax laws and regulations. The amounts of unrecognized deferred tax liabilities for these earnings were approximately $16.0 million. The Group recorded an increase of nil for uncertain tax positions during the years ended December 31, 2012, 2013 and 2014. The Company classifies interest and/or penalties related to income tax matters in income tax expense. The Group accrued interest of $169,389, $168,926 and $ 168,464 related to the uncertain tax positions in 2012, 2013 and 2014, respectively. Accrued interest was $605,820 and $774,284 as of December 31, 2013 and 2014, respectively.
The Group does not anticipate any significant increases or decreases to its liability for unrecognized tax benefits within the next 12 months. According to PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or withholding agent. The statute of limitations will be extended five years under special circumstances, which are not clearly defined (but an underpayment of tax liability exceeding RMB0.1 million is specifically listed as a special circumstance). In the case of a related party transaction, the statute of limitations is 10 years. There is no statute of limitations in the case of tax evasion. In 2012, the Group decreased its income tax liability by $322,378 for unrecognized tax benefits previously recorded during the years ended December 31, 2006 as the statute of limitations for certain tax positions had expired under the PRC Tax Administration and Collection Law. The movement of the Group’s uncertain tax positions is summarized as follows:
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Loans Receivable, Net
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Dec. 31, 2014
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Loans Receivable, Net | 9. Loans Receivable, Net Loans receivable as of December 31, 2013 and 2014 consist of the following:
The loan interest rate ranging between 8.0%-15.2% for the years ended December 31, 2014. All loans are short-term loans and secured by collateral. The following table presents the activity in the allowance for loan losses as of and for the years ended December 31, 2013 and 2014.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share Repurchase
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12 Months Ended |
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Dec. 31, 2014
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Share Repurchase | 10. Share Repurchase Treasury stock represents shares repurchased by the Company that are no longer outstanding and are held by the Company. Treasury stock is accounted for under the cost method. As of December 31, 2014, under the repurchase plan, the Company had repurchased an aggregate of 1,067,816 ordinary shares on the open market for total cash consideration of $11,675,955. The repurchased shares were presented as “treasury stock” in shareholders’ equity on the Group’s consolidated balance sheets. |
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- Definition
The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. No definition available.
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Share-Based Compensation
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Share-Based Compensation | 11. Share-Based Compensation The following table presents the Company’s share-based compensation expense by type of award:
Share Options: During the year ended December 31, 2008, the Company adopted the Noah Holdings Limited Share Incentive Plan (the “2008 Plan”), which allows the Company to offer a variety of share-based incentive awards to the Group’s employees, officers, directors and individual consultants who render services to the Group. Under the 2008 Plan, the maximum number of shares that may be issued shall not exceed 8% of the shares in issue on the date the offer of the grant of an option is made. During the year ended December 31, 2010, the Company adopted its 2010 share incentive plan (the “2010 Plan”). Under the 2010 plan, the maximum number of shares in respect of which options, restricted shares, or restricted share units may be granted will be 10% of the Company’s current outstanding share capital, or 2,315,000 shares. Options have a ten-year life and generally vest 25% on the first anniversary of the grant date with the remaining 75% vesting ratably over the following 36 months. The weighted-average grant-date fair value of options granted during the years ended December 31, 2012, 2013 and 2014 was nil, $39.64 and $27.87 per share, respectively. There were 75,694, 153,014 and 128,457 options exercised during the years ended December 31, 2012, 2013 and 2014 respectively. Option modification In January 2012, the Company modified the exercise price for certain outstanding options that have been granted under the Company’s 2008 and 2010 share incentive plans but not exercised as of January 16, 2012 in order to provide appropriate incentives to the relevant employees, officers and directors of the Company. The exercise prices of the eligible options were modified to be US$12.12 per ordinary share, or US$6.06 per ADS, which represents the average closing price of the Company’s ADSs traded on the New York Stock Exchange during the preceding week of the modifications, with other conditions remaining unchanged. The Company compared the fair value of the modified options against the original awards as of the modification date and concluded that there is $0.7 million incremental compensation cost related to options not yet vested to be recognized over the remaining vesting period and $0.2 million incremental compensation cost related to options already vested to be recognized immediately as of date of modification. The weighted average exercise price before and after the modification are $19.81 and $12.12 per ordinary share, respectively. The Company converted the options that were granted under the Company’s 2008 and 2010 share incentive plans but unvested as of May 21, 2012 into restricted shares. The conversion reduced the number of options and made the exercise prices to be zero, but other conditions remaining unchanged. The Company compared the fair value of the modified options against the original awards as of the modification date and concluded that there is $2.2 million incremental compensation cost related to restricted shares not yet vested to be recognized over the remaining vesting period. The weighted average exercise price before and after the modification are $9.52 and nil per ordinary share, respectively.
The Group uses the Black-Scholes pricing model and the following assumptions to estimate the fair value of the options granted or modified:
The following table summarizes option activity during the year ended December 31, 2014:
As of December 31, 2014, there was $5,452,347 of unrecognized compensation expense related to unvested share options, which is expected to be recognized over a weighted average period of 3.29 years. Non-vested Restricted Shares: Restricted Shares modification On March 11, 2010, the Group granted 150,000 restricted shares to one executive officer to replace options previously granted under the 2008 Plan. The purchase price of the restricted shares of $5.58 per share is payable at the time of vesting, which was also the exercise price of the options that were replaced. The vesting and other requirements imposed on the restricted shares were the same as under the original option grant. As a result, the Group is accounting for the restricted shares as options. The modification did not result in any incremental compensation expense. In May 2012, the Company modified the purchase price of the unvested restricted shares as of May 21, 2012 from $5.58 per share to zero, but other conditions remaining unchanged. The Company compared the fair value of the modified restricted shares against the original awards as of the modification date and concluded that there is $0.2 million incremental compensation cost to be recognized in the next 2 years. On August 6, 2014, the Group granted 19,375 restricted shares to independent directors to replace options previously granted and modify the purchase price of the unvested restricted shares from $37.03 per share to zero, but other conditions remaining unchanged. The Company compared the fair value of the modified restricted shares against the original awards as of the modification date and concluded that there is $0.3 million incremental compensation cost to be recognized in the next 2 years.
A summary of non-vested restricted share activity during the year ended December 31, 2014 is presented below:
The total fair value of non-vested restricted shares vested in 2012, 2013 and 2014 was $2,144,851, $2,702,791 and $3,543,512, respectively. The fair value of non-vested restricted shares was computed based on the fair value of the Group’s ordinary shares on the grant date. As of December 31, 2014, there was $4,526,236 in total unrecognized compensation expense related to such non-vested restricted shares, which is expected to be recognized over a weighted-average period of 1.94 years. |
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Employee Benefit Plans
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Dec. 31, 2014
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Employee Benefit Plans | 12. Employee Benefit Plans Full time employees of the Group in the PRC participate in a government-mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations require the Group to accrue for these benefits based on a certain percentage of the employees’ salaries. The total contribution for such employee benefits were $2,277,079, $2,958,400 and $4,923,483 for the years ended December 31, 2012, 2013 and 2014, respectively. The Group has no ongoing obligation to its employees subsequent to its contributions to the PRC plan. |
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- Definition
The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. No definition available.
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Distribution of Profits
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12 Months Ended |
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Dec. 31, 2014
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Distribution of Profits | 13. Distribution of Profits Pursuant to the relevant laws and regulations in the PRC applicable to foreign-investment corporations and the Articles of Association of the Group’s PRC subsidiaries and VIEs, the Group is required to maintain a statutory reserve (“PRC statutory reserve”): a general reserve fund, which is non-distributable. The Group’s PRC subsidiaries and VIEs are required to transfer 10% of their profit after taxation, as reported in their PRC statutory financial statements, to the general reserve fund until the balance reaches 50% of their registered capital. At their discretion, the PRC subsidiaries and VIEs may allocate a portion of its after-tax profits based on PRC accounting standards to staff welfare and bonus funds. The general reserve fund may be used to make up prior year losses incurred and, with approval from the relevant government authority, to increase capital. PRC regulations currently permit payment of dividends only out of the Group’s PRC subsidiaries and VIEs’ accumulated profits as determined in accordance with PRC accounting standards and regulations. The general reserve fund amounted to $8,638,712 and $15,893,941 as of December 31, 2013 and 2014, respectively. The Group has not allocated any of its after-tax profits to the staff welfare and bonus funds for any period presented. In addition, the share capital of the Company’s PRC subsidiaries and VIEs of $86,907,832 and $105,571,519 as of December 31, 2013 and 2014, respectively, was considered restricted due to restrictions on the distribution of share capital. As a result of these PRC laws and regulations, the Company’s PRC subsidiaries and VIEs are restricted in their ability to transfer a portion of their net assets, including general reserve and registered capital, either in the form of dividends, loans or advances. Such restricted portion amounted to $95,546,544 and $121,465,460 as of December 31, 2013 and 2014, respectively. The restricted assets of the Company’s VIEs amounted to $21,254,726 and $49,330,429 as of December 31, 2013 and 2014, respectively. On February 28, 2012, the Company declared the Company’s payment of an annual cash dividend of US$0.14 per American depositary share (“ADS”), or US$0.28 per ordinary share (two ADSs represent one ordinary share). The annual dividend of $7.9 million was paid on or about April 15, 2012 to holders of ordinary shares (which includes holders of ADSs) of record as of the close of business on March 30, 2012. On February 25, 2013, the Company declared the Company’s payment of an annual cash dividend of US$0.14 per American depositary share (“ADS”), or US$0.28 per ordinary share (two ADSs represent one ordinary share). The annual dividend of $7.7 million was paid on or about April 9, 2013 to holders of ordinary shares (which includes holders of ADSs) of record as of the close of business on March 20, 2013. |
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- Definition
Distribution Of Profits No definition available.
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Segment Information
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Segment Information | 14. Segment Information The Group uses the management approach to determine operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Group’s CODM has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. During the past two years, the Group has gradually transitioned from a wealth management consulting services provider to an integrated financial group with capabilities in wealth management, asset management and internet finance. In order to better reflect such transition, the Group has adjusted its internal organizational and corporate structures in the fourth quarter of 2014. The segment information has been adjusted accordingly to present the operating results by three reportable segments: wealth management, asset management and internet finance. Prior year comparable information has been updated to reflect the new reportable segments. The Group’s CODM does not review balance sheet information of the segments. Segment information of the Group’s business is as follow:
Substantially all of the Group’s revenues are derived from, and its assets are located in, the PRC and Hong Kong. |
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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Dec. 31, 2014
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Related Party Transactions | 15. Related Party Transactions 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 operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. The table below sets forth major related parties and their relationships with the Group:
During the years ended December 31, 2013 and 2014, significant related party transactions were as follows:
As of December 31, 2013 and 2014, amounts due from related parties associated with the above transactions were comprised of the following:
As of December 31, 2013 and 2014, deferred revenues related to the recurring management fee received in advance from related parties were comprised of the following:
Shanghai Yafu Investment Consulting Co., Ltd., an investment vehicle of Noah’s employees, acquired 10% of equity interests in four subsidiaries of the Group upon formation of the entities. The subsidiaries invested and the respective purchase price is listed as below.
During the year ended December 31, 2013 and 2014, donation made to Shanghai Noah Charity Fund were nil and $2.4 million. |
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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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments
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Commitments | 16. Commitments (a) Operating Leases The Group leases its facilities under non-cancelable operating leases expiring at various dates. Future minimum lease payments under non-cancelable operating lease agreements as of December 31, 2014 were as follows:
Rental expenses were $5,175,287, $7,054,682 and $7,604,551 for the years ended December 31, 2012, 2013 and 2014, respectively. |
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The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent events
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Dec. 31, 2014
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Subsequent events | 17. Subsequent events In February 2015, the Group completed an issuance of convertible notes of $80 million in aggregate principal amount through private placement. The convertible notes bear interest at a rate of 3.5% per annum, payable semi-annually, from the issuance date and mature in February 2020 and are convertible, at the holders’ option, at an initial conversion price of US$23.03 per ADS, subject to adjustments. In March 2015, SCC Venture V Holdco I, Ltd., an affiliate of Sequoia Capital China, entered into a share purchase agreement with the Group to purchase 9.8% of the equity shares of Shanghai Noah Yijie Finance Technology Co., Ltd. for a consideration of US$5.0 million. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Additional Financial Information of Parent Company - Financial Statements Schedule I
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Additional Financial Information of Parent Company - Financial Statements Schedule I | Additional Financial Information of Parent Company – Financial Statements Schedule I Under PRC regulations, foreign-invested companies in China may pay dividends only out of their accumulated profits, if any, determined in accordance with PRC accounting standards and regulations. The Company’s PRC subsidiaries and VIEs are required to set aside at least 10% of their respective accumulated profits each year, if any, to fund general reserve funds unless such reserve funds have reached 50% of its respective registered capital. These reserves are not distributable in the form of cash dividends to the Company. In addition, the share capital of the Company’s PRC subsidiaries and VIEs are considered restricted due to restrictions on the distribution of share capital. The following Schedule I has been provided pursuant to the requirements of Rules 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented as the restricted net assets of the Company’s PRC subsidiaries and VIEs which may not be transferred to the Company in the forms of loans, advances or cash dividends without the consent of PRC government authorities as of December 31, 2014, was more than 25% of the Company’s consolidated net assets as of December 31, 2014. a) Condensed balance sheets (Expressed In U.S. dollars unless otherwise stated)
b) Condensed statement of operations (Expressed In U.S. dollars unless otherwise stated)
c) Condensed statement of comprehensive income (Expressed In U.S. dollars unless otherwise stated)
d) Condensed statements of cash flows (Expressed In U.S. dollars unless otherwise stated)
e) Notes to condensed financial statements
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The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Principal Accounting Policies (Policies)
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Basis of Presentation | (a) Basis of Presentation The consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
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Principles of Consolidation | (b) Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries and consolidated VIEs. All inter-company transactions and balances have been eliminated upon consolidation. A consolidated subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power or has the power to: appoint or remove the majority of the members of the board of directors; cast a majority of votes at the meeting of the board of directors; or govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. US GAAP provides guidance on the identification and financial reporting for entities over which control is achieved through means other than voting interests. The Group evaluates each of its interests in private companies to determine whether or not the investee is a VIE and, if so, whether the Group is the primary beneficiary of such VIE. In determining whether the Group is the primary beneficiary, the Group considers if the Group (1) has power to direct the activities that most significantly affects the economic performance of the VIE, and (2) receives the economic benefits of the VIE that could be significant to the VIE. If deemed the primary beneficiary, the Group consolidates the VIE. As foreign-invested companies engaged in insurance brokerage business are subject to stringent requirements compared with Chinese domestic enterprises under the current PRC laws and regulations, the Company’s PRC subsidiary, Shanghai Noah Rongyao Investment Consulting Co., Ltd. (“Noah Rongyao”), and its subsidiaries, as foreign-invested companies, do not meet all such requirements and therefore none of them are permitted to engage in the insurance brokerage business in China. Therefore, the Company decided to conduct the insurance brokerage business in China through Noah Investment and its subsidiaries which are PRC domestic companies beneficially owned by the Founders. In addition, the Group engaged in mutual fund distribution business and distribution of asset management plans sponsored by mutual fund management companies as part of our business. Under PRC laws and regulations, distribution of mutual funds or asset management plans sponsored by mutual fund management companies requires a mutual fund distribution license. There may be uncertainties regarding the interpretation and application of regulations and other governmental policies regarding the issuance of a mutual fund distribution license. In addition, the approval authorities have broad discretion and may also provide the different requirements regarding the application of mutual fund distribution license according to different situations, such as the applicants are foreign-invested enterprises or their subsidiaries. As a result, the PRC subsidiaries may find it difficult to meet all such requirements or may have to incur significant costs and efforts to meet such requirements. Therefore, the Company conducts such business in China principally through contractual arrangements among our PRC subsidiary, Noah Rongyao and the Company’s PRC variable interest entity, Noah Investment, and Noah Investment’s shareholders. Noah Upright, a subsidiary of Noah Investment, holds the licenses and permits necessary to conduct mutual fund distribution and distribution of asset management plans sponsored by mutual fund management companies in China. Since the Company does not have any equity interests in Noah Investment, in order to exercise effective control over its operations, the Company, through its wholly owned subsidiary Noah Rongyao, entered into a series of contractual arrangements with Noah Investment and its shareholders, pursuant to which the Company is entitled to receive effectively all economic benefits generated from Noah Investment shareholders’ equity interests in it. These contractual arrangements include: (i) a Power of Attorney Agreement under which each shareholder of Noah Investment has executed a power of attorney to grant Noah Rongyao or its designee the power of attorney to act on his or her behalf on all matters pertaining to Noah Investment and to exercise all of his or her rights as a shareholder of the Company, (ii) an Exclusive Option Agreement under which the shareholders granted Noah Investment or its third-party designee an irrevocable and exclusive option to purchase their equity interests in Noah Investment when and to the extent permitted by PRC law, (iii) an Exclusive Support Service Agreement under which Noah Investment engages Noah Rongyao as its exclusive technical and operational consultant and under which Noah Rongyao agrees to assist in arranging the financial support necessary to conduct Noah Investment’s operational activities, (iv) a Share Pledge Agreement under which the shareholders pledged all of their equity interests in Noah Investment to Noah Rongyao as collateral to secure their obligations under the agreement, and (v) a Free-Interest Loan Agreement under which each shareholder of Noah Investment entered into a loan agreement with Noah Rongyao for their respective investment in the equity interests in Noah Investment. The total amount of interest-free loans extended to the Founders is RMB27 million (approximately $3.6 million) which has been injected into Noah Investment. The Founders of Noah Investment effectively acted as a conduit to fund the required capital contributions from the Company into Noah Rongyao, are non-substantive shareholders and received no consideration for entering into such transactions. Under the above agreements, the shareholders of Noah Investment irrevocably granted Noah Rongyao the power to exercise all voting rights to which they were entitled. In December 2013, these loans were further restructured and each shareholder of Noah Investment re-entered into a new no-interest loan agreement with Noah Rongyao. The principal amounts of such no-interest loans to these shareholders were the same as that of the initial loans. The loan agreements will expire in December 2023. In addition, Noah Rongyao has the option to acquire all of the equity interests in Noah Investment, to the extent permitted by the then-effective PRC laws and regulations, for nominal consideration. Finally, Noah Rongyao is entitled to receive service fees for certain services to be provided to Noah Investment.
The Exclusive Option Agreement and Power of Attorney Agreements provide the Company effective control over the VIE and its subsidiaries, while the equity pledge agreements secure the equity owners’ obligations under the relevant agreements. Because the Company, through Noah Rongyao, has (i) the power to direct the activities of Noah Investment that most significantly affect the entity’s economic performance and (ii) the right to receive substantially all of the benefits from Noah Investment, the Company is deemed the primary beneficiary of Noah Investment. Accordingly, the Group has consolidated the financial statements of Noah Investment since its inception. The aforementioned contractual agreements are effective agreements between a parent and a consolidated subsidiary, neither of which is accounted for in the consolidated financial statements (i.e. a call option on subsidiary shares under the Exclusive Option Agreement or a guarantee of subsidiary performance under the Share Pledge Agreement) or are ultimately eliminated upon consolidation (i.e. service fees under the Exclusive Support Service Agreement or loans payable/receivable under the Loan Agreement). The Company believes that these contractual arrangements are in compliance with PRC laws and regulations and are legally enforceable. The addition of mutual fund business under Noah Investment and the transfer of Tianjin Gopher and Gopher Asset from Noah Rongyao to Noah Investment in 2012 do not impact the legal effectiveness of these contractual arrangements and do not impact the conclusion that the Company is the primary beneficiary of Noah Investment and its subsidiaries. However, the aforementioned contractual arrangements with Noah Investment and its shareholders are subject to risks and uncertainties, including:
The following amounts of Noah Investment and its subsidiaries were included in the Group’s consolidated financial statements:
The VIEs contributed an aggregate of 8.3%, 21.2% and 37.1% of the consolidated net revenues for the years ended December 31, 2012, 2013 and 2014, respectively and an aggregate of 5.1%, 36.3% and 67.0% of the consolidated net income for the years ended December 31, 2012, 2013 and 2014, respectively. As of December 31, 2013 and 2014, the VIEs accounted for an aggregate of 30.7% and 34.0%, respectively, of the consolidated total assets.
There are no consolidated assets of the VIEs and their subsidiaries that are collateral for the obligations of the VIEs and their subsidiaries and can only be used to settle the obligations of the VIEs and their subsidiaries. There are no terms in any arrangements, considering both explicit arrangements and implicit variable interests that require the Company or its subsidiaries to provide financial support to the VIEs. However, if the VIEs ever need financial support, the Company or its subsidiaries may, at its option and subject to statutory limits and restrictions, provide financial support to its VIEs through loans to the shareholder of the VIEs or entrustment loans to the VIEs. Relevant PRC laws and regulations restrict the VIEs from transferring a portion of their net assets, equivalent to the balance of its statutory reserve and its share capital, to the Company in the form of loans and advances or cash dividends. Please refer to Note 13 for disclosure of restricted net assets. |
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Use of Estimates | (c) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ materially from such estimates. Significant accounting estimates reflected in the Group’s consolidated financial statements include assumptions used to determine the liability for uncertain tax positions, valuation allowance for deferred tax assets, allowance for accounts receivable, allowance for loan losses, fair value measurement of underlying investment portfolios of the funds that the Group invests, assumptions related to the consolidation of entities in which the Group holds variable interests, assumptions related to the valuation of share-based compensation, including estimation of related forfeiture rates and assumption related to valuation of investments. |
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Concentration of Credit Risk | (d) Concentration of Credit Risk The Group is subject to potential significant concentrations of credit risk consisting principally of cash and cash equivalents, accounts receivable and investments. All of the Group’s cash and cash equivalents and a majority of investments are held with financial institutions that Group management believes to be high credit quality. In addition, the Group’s investment policy limits its exposure to concentrations of credit risk. Substantially all revenues were generated within China. There were no product providers or underlying corporate borrowers which accounted for 10% or more of total revenues for the years ended December 31, 2012, 2013, and 2014. Credit of small loan business is controlled by the application of credit approvals, limits and monitoring procedures. To minimize credit risk, the Group requires collateral in form of right to securities. The Group identifies credit risk on a customer by customer basis. The information is monitored regularly by management. |
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Investments in Affiliates | (e) Investments in Affiliates Affiliated companies are entities over which the Group has significant influence, but which it does not control. The Group generally considers an ownership interest of 20% or higher to represent significant influence. Investments in affiliates are accounted for by the equity method of accounting. Under this method, the Group’s share of the post-acquisition profits or losses of affiliated companies is recognized in the statements of operations and its shares of post-acquisition movements in other comprehensive income are recognized in other comprehensive income. Unrealized gains on transactions between the Group and its affiliated companies are eliminated to the extent of the Group’s interest in the affiliated companies; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. When the Group’s share of losses in an affiliated company equals or exceeds its interest in the affiliated company, the Group does not recognize further losses, unless the Group has incurred obligations or made payments on behalf of the affiliated company. An impairment loss is recorded when there has been a loss in value of the investment that is other than temporary. The Group has not recorded any impairment losses in any of the periods reported. The Group also considers it has significant influence over the funds of funds and real estate funds that it serves as general partner, and the Group’s ownership interest in these funds as limited partner is generally much lower than 20%. These funds are not consolidated by the Group based on the facts that the Group is not the primary beneficiary of these funds, and substantive kick-out rights exist which are exercisable by a simple-majority of non-related limited partners of these funds to dissolve (liquidate) the funds or remove the company as the general partner of the funds without cause. The equity method of accounting is accordingly used for investments by the Group in these funds. In addition, the investee funds meet the definition of an Investment Company and are required to report their investment assets at fair value. The Group records its equity pick-up based on its percentage ownership of the investee funds’ operating result.
In 2010, Tianjin Gopher invested in four funds of private equity funds newly established in 2010; in 2011, Tianjin Gopher invested in six funds of private equity funds newly established in 2011; in 2012, Tianjin Gopher invested in one fund of private equity funds newly established in 2012. Tianjin Gopher held 0.6% to 4.8% equity interests in these funds as a general partner. In 2012, Gopher Asset and its subsidiaries invested in two private equity funds of funds, thirty-eight real estate funds and real estate funds of funds newly established in 2012; in 2013, Gopher Asset and its subsidiaries invested in three private equity funds of funds, seventy-five real estate funds and real estate funds of funds, two secondary market equity funds of funds and eight other fixed income funds of funds newly established in 2013. Gopher Asset held no more than 2.3% equity interests in these real estate funds and real estate funds of funds and no more than 5.0% equity interest in these private equity funds of funds as a general partner. In 2014, Gopher Asset and its subsidiaries invested in sixteen private equity funds of funds, fourteen real estate funds and real estate funds of funds, fifteen secondary market equity funds of funds and twelve other fixed income funds of funds newly established in 2014. Gopher Asset held no more than 1.7% equity interests in these real estate funds and no more than 5.0% equity interest in these real estate funds of funds and private equity funds of funds as a general partner. In May 2011, Tianjin Gopher injected RMB 4.0 million (approximately $0.6 million) into Kunshan Jingzhao Equity Investment Management Co., Ltd (“Kunshan Jingzhao”), a newly setup joint venture, for 40% of the equity interest. Kunshan Jingzhao principally engages in real estate fund management business. In November 2012, Gopher Asset injected RMB 3.8 million (approximately $0.6 million) into Kunshan Vantone Zhengyuan Private Equity Fund Management Co., Ltd (“Kunshan Vantone”), a newly established joint venture, for 15% of the equity interest. Kunshan Vantone principally engages in private equity fund management businesses. The Group considers it has significant influences over Kunshan Vantone due to its voting rights in its board of directors. In February 2013, Gopher Asset injected RMB 21.0 million (approximately $3.5 million) into Wanjia Win-Win Assets Management Co., Ltd (“Wanjia Win-Win”), a newly setup joint venture, for 35% of the equity interest. Wanjia Win-Win principally engages in wealth management plan management business. In July 2013, Gopher Asset injected RMB 0.8 million (approximately $0.1 million) into Wuhu Bona Film Investment Management Co., Ltd. (“Wuhu Bona”), a newly established joint venture, for 15% of the equity interest. Wuhu Bona principally engages in film private equity fund management businesses. The Group considers it has significant influences over Wuhu Bona due to its voting rights in its board of directors. The Group accounts for these investments using the equity method of accounting due to the fact that the Company has significant influence on these investees. The Group recorded investments in affiliates of $14,742,364 and $35,817,261 as of December 31, 2013 and 2014, respectively and income from equity in affiliates of $617,361, $1,191,833 and $2,200,504 for the years ended December 31, 2012, 2013 and 2014, respectively. |
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Internal-use Software | (f) Internal-use Software Certain direct development costs associated with internal use software are capitalized and mainly include payroll costs for employees devoting time to the software projects principally related to software coding, system interface design and installation and software testing. The capitalized costs are amortized using the straight-line method over an estimated life of two to four years, from the date when the asset is substantially ready for use. Costs related to preliminary project activities and post implementation activities are expensed as incurred. |
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Fair Value of Financial Instruments | (g) Fair Value of Financial Instruments The Group records certain of its financial assets and liabilities at fair value on a recurring basis. 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 asset or liability. 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. The hierarchy is as follows: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical asset or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
Level 3 applies to asset or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. |
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Cash and Cash Equivalents | (h) Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less when purchased. |
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Restricted Cash | (i) Restricted Cash The Group’s restricted cash primarily represents cash deposits required by China Insurance Regulatory Commission for entities engaging in insurance agency or brokering activities in China. Such cash cannot be withdrawn without the written approval of the China Insurance Regulatory Commission. Funds that are raised on behalf of investors, prior to the establishment of certain third party investment vehicles, are legally segregated from the Group and will be transferred to such investment vehicles upon formation. |
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Investments | (j) Investments The Group invests in debt securities and equity securities and accounts for the investments based on the nature of the products invested, and the Group’s intent and ability to hold the investments to maturity. The Group’s investments in debt securities include marketable bond fund securities, trust products, asset management plans and real estate funds those have a stated maturity and normally pay a prospective fixed rate of return. The Group classifies the investments in debt securities as held-to-maturity when it has both the positive intent and ability to hold them until maturity. Held-to-maturity investments are recorded at amortized cost and are classified as long-term or short-term according to their contractual maturity. Long-term investments are reclassified as short-term when their contractual maturity date is less than one year. Investments that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value with changes in fair value recognized in earnings. Investments that do not meet the criteria of held-to-maturity or trading securities are classified as available-for-sale, and are reported at fair value with changes in fair value deferred in other comprehensive income. The Group records investments in private equity funds under the cost method when they do not qualify for the equity method. Gains or losses are realized when such investments are sold. The Group reviews its investments except for those classified as trading securities for other-than-temporary impairment based on the specific identification method and considers available quantitative and qualitative evidence in evaluating potential impairment. If the cost of an investment exceeds the investment’s fair value, the Group considers, among other factors, general market conditions, government economic plans, the duration and the extent to which the fair value of the investment is less than cost and the Group’s intent and ability to hold the investment to determine whether an other-than-temporary impairment has occurred. The Group recognizes other-than-temporary impairment in earnings if it has the intent to sell the debt security or if it is more-likely-than-not that it will be required to sell the debt security before recovery of its amortized cost basis. Additionally, the Group evaluates expected cash flows to be received and determines if credit-related losses on debt securities exist, which are considered to be other-than-temporary, should be recognized in earnings. If the investment’s fair value is less than the cost of an investment and the Group determines the impairment to be other-than-temporary, the Group recognizes an impairment loss based on the fair value of the investment. To date, the Group has not recorded an other-than-temporary impairment. |
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Non-controlling interests | (k) Non-controlling interests A non-controlling interest in a subsidiary of the Group represents the portion of the equity (net assets) in the subsidiary not directly or indirectly attributable to the Group. Non-controlling interests are presented as a separate component of equity in the consolidated balance sheet and earnings and other comprehensive income are attributed to controlling and non-controlling interests. The non-controlling interest was $10,769,789 and $14,028,321, respectively as of December 31, 2013 and 2014 and the net income attributable to non-controlling interest was $82,712, $1,602,867 and $2,806,078, respectively for years ended December 31, 2012, 2013 and 2014. |
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Property and Equipment, net | (l) Property and Equipment, net Property and equipment is stated at cost less accumulated depreciation, and is depreciated using the straight-line method over the following estimated useful lives:
Gains and losses from the disposal of property and equipment are included in income from operations. |
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Revenue Recognition | (m) Revenue Recognition The Group derives revenue primarily from one-time commissions and recurring service fees paid by product providers or underlying corporate borrowers. The Group recognizes revenues when there is persuasive evidence of an arrangement, service has been rendered, the sales price is fixed or determinable and collectability is reasonably assured. Prior to a client’s purchase of a wealth management product, the Group provides the client with a wide spectrum of consultation services, including product selection, review, risk profile assessment and evaluation and recommendation for the client. Revenues are recorded, net of sales related taxes and surcharges. One-time Commissions The Group enters into one-time commission agreements with product providers or underlying corporate borrowers, which specifies the key terms and conditions of the arrangement. Such agreements do not include rights of return, credits or discounts, rebates, price protection or other similar privileges. Upon establishment of a wealth management product, the Group earns a one-time commission from product providers or underlying corporate borrowers, calculated as a percentage of the wealth management products purchased by its clients. The Group defines the “establishment of a wealth management product” for its revenue recognition purpose as the time when both of the following two criteria are met: (1) the Group’s client has entered into a purchase or subscription contract with the relevant product provider and, if required, the client has transferred a deposit to an escrow account designated by the product provider and (2) the product provider has issued a formal notice to confirm the establishment of a wealth management product. Revenue is recorded upon the establishment of the wealth management product, when the provision of service concludes and the fee becomes fixed and determinable, assuming all other revenue recognition criteria have been met, and there are no future obligations or contingencies. Certain contracts require a portion of the payment be deferred until the end of the wealth management products’ life or other specified contingency. In such instances, the Group defers the contingent amount until the contingency has been resolved. A small portion of the Group’s one-time commission arrangements require the provision of certain after sales activities, which primarily relate to disseminating information to clients related to investment performance. The Group accrues the estimated cost of providing these services, which are inconsequential, when the one-time commission is earned as the services to be provided are substantially complete. The Group has historically completed the after sales services in a timely manner and can reliably estimate the remaining costs. Recurring Service Fees Recurring service fees from product providers depend on the type of wealth management product the Group’s client purchased and are calculated as either (i) a percentage of the total value of investments in the wealth management products purchased by the Group’s clients, calculated at the establishment date of the wealth management product or (ii) as a percentage of the fair value of the total investment in the wealth management product, calculated daily. As the Group provides these services throughout the contract term, for either method of calculation, revenue is recognized on a daily basis over the contract term, assuming all other revenue recognition criteria have been met. Recurring service agreements do not include rights of return, credits or discounts, rebates, price protection or other similar privileges. Multiple Element Arrangements The Group enters into multiple element arrangements when a product provider or underlying corporate borrower engages it to provide both wealth management marketing and recurring services. The Group also provides both wealth management marketing and recurring services to funds of private equity funds and real estate funds that it serves as general partner.
The Group allocates arrangement consideration in multiple-deliverable revenue arrangements at the inception of an arrangement to all deliverables based on the relative selling price in accordance with the selling price hierarchy, which includes: (i) vendor-specific objective evidence (“VSOE”) if available; (ii) third-party evidence (“TPE”) if VSOE is not available; and (iii) best estimate of selling price (“BESP”) if neither VSOE nor TPE is available. VSOE. The Group determines VSOE based on its historical pricing and discounting practices for the specific service when sold separately. In determining VSOE, the Group requires that a substantial majority of the selling prices for these services fall within a reasonably narrow pricing range. TPE. When VSOE cannot be established for deliverables in multiple element arrangements, the Group applies judgment with respect to whether it can establish a selling price based on TPE. TPE is determined based on competitor prices for similar deliverables when sold separately. Generally, the Group’s products and services contain certain level of differentiation such that the comparable pricing of services with similar functionality cannot be obtained. Furthermore, the Group is unable to reliably determine what similar competitor services’ selling prices are on a stand-alone basis. As a result, the Group has not been able to establish selling price based on TPE. BESP. When it is unable to establish selling price using VSOE or TPE, the Group uses BESP in its allocation of arrangement consideration. The objective of BESP is to determine the price at which the Group would transact a sale if the service were sold on a stand-alone basis. The Group determines BESP for deliverables by considering multiple factors including, but not limited to, prices it charged for similar offerings, market conditions, specification of the services rendered and pricing practices. The Group has used BESP to allocate the selling price of wealth management marketing service and recurring services under these multiple element arrangements. The Group has vendor specific objective evidence of fair value for its wealth management marketing services as it provides such services on a stand-alone basis. The Group has not sold its recurring services on a stand-alone basis. However, the fee to which the Group is entitled is consistently priced at a fixed percentage of the management fee obtained by the fund managers irrespective of the fee obtained for the wealth management marketing services. The recurring service fee the Group charges as general partner is consistent with the management fee obtained by the fund managers irrespective of the fee obtained for the wealth management marketing services. As such, the Group has established fair value as relative charges that are consistent with management fee in such arrangements and believes it represents their best estimate of the selling price at which they would transact if the recurring services were sold regularly on a stand-alone basis. The Group allocates arrangement consideration based on fair value, which is equivalent to the percentages charged for each of the respective units of accounting, as described above. Revenue for the respective units of accounting is also recognized in the same manner as described above. If the estimated selling price for recurring services increased (or decreased) by 1%, the revenue allocated to this revenue element would increase (decrease) by 0.1% to 0.7%. Other Service Fees The Group also derived revenues from small short-term loan, internet finance business, performance based income of the funds it serves as fund managers and other businesses, which were recorded as other service fees and represented 0.63%, 0.48%, 6.20% and 0.87% of the Group’s total net revenue for the year ended December 31, 2014. From November 2013, the Group started offering small short-term loan services. Revenue is recognized when there are probable economic benefits to the Group and when the revenue can be measured reliably. Interest on loan receivables is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Group does not charge prepayment penalty from customers. In 2014, the Group started internet finance business to provide financial products and services to high net worth individuals as well as white-collar professionals in China through its proprietary internet financial platforms. Revenues derived from internet finance business is recorded in other service fees. |
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Business Tax and Related Surcharges | (n) Business Tax and Related Surcharges The Group is subject to business tax, education surtax, and urban maintenance and construction tax, on the services provided in the PRC. Business tax and related surcharges are primarily levied based on revenues concurrent with a specific revenue-producing transaction at combined rates ranging from 5.35% to 5.70%. They can be presented either on a gross basis (included in revenues and costs) or on a net basis (excluded from revenue) at the Company’s accounting policy decision under U.S. GAAP. The Company has elected to report such business tax and related surcharges on a net basis as a reduction of revenues. |
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Cost of Revenues | (o) Cost of Revenues Cost of revenue includes salaries and performance-based commissions of relationship managers and expenses incurred in connection with product-specific client meetings and other events. |
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Income Taxes | (p) Income Taxes Current income taxes are provided for in accordance with the relevant statutory tax laws and regulations. The Group accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Group recognizes net deferred tax assets to the extent that it believes these assets are more likely than not to be realized. In making such a determination, it considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Group determines that its deferred tax assets are realizable in the future in excess of their net recorded amount, the Group would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Group records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Group recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The liability associated with unrecognized tax benefits is adjusted periodically due to changing circumstances, such as the progress of tax audits, case law developments and new or emerging legislation. Such adjustments are recognized entirely in the period in which they are identified. The effective tax rate for the Group includes the net impact of changes in the liability for unrecognized tax benefits and subsequent adjustments as considered appropriate by management. The Group recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statement of Operations. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheet. |
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Share-Based Compensation | (q) Share-Based Compensation The Group recognizes share-based compensation based on the fair value of equity awards on the date of the grant, with compensation expense recognized using a straight-line vesting method over the requisite service periods of the awards, which is generally the vesting period. The Group estimates the fair value of share options granted using the Black-Scholes option pricing model. The expected term represents the period that share-based awards are expected to be outstanding, giving consideration to the contractual terms of the share-based awards, vesting schedules and expectations of future employee exercise behavior. The computation of expected volatility is based on a combination of the historical and implied volatility of comparable companies from a representative peer group based on industry. Management estimates expected forfeitures and recognizes compensation costs only for those share-based awards expected to vest. Amortization of share-based compensation is presented in the same line item in the consolidated statements of operations as the cash compensation of those employees receiving the award. |
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Government Grants | (r) Government Grants Government subsidies include cash subsidies received by the Group’s entities in the PRC from local governments as incentives for investing in certain local districts, and are typically granted based on the amount of investment made by the Group in form of registered capital or taxable income generated by the Group in these local districts. Such subsidies allow the Group full discretion in utilizing the funds and are used by the Group for general corporate purposes. The local governments have final discretion as to whether the Group has met all criteria to be entitled to the subsidies. The Group does not in all instances receive written confirmation from local governments indicating the approval of the cash subsidy before cash is received. Cash subsidies of $4,295,029, $5,323,670 and $14,792,142 are included in other operating income for the years ended December 31, 2012, 2013 and 2014, respectively. Cash subsidies are recognized when received and when all the conditions for their receipt have been satisfied. |
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Net Income per Share | (s) Net Income per Share Basic net income per share is computed by dividing net income attributable to ordinary shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised into ordinary shares. Common share equivalents are excluded from the computation of the diluted net income per share in years when their effect would be anti-dilutive.
Diluted net income per share is computed by giving effect to all potential dilutive shares, including non-vested restricted shares and options. |
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Operating Leases | (t) Operating Leases Leases where substantially all the rewards and risks of ownership of assets remain with the leasing company are accounted for as operating leases. Certain of the Group’s facility leases provide for a free rent period. Payments made under operating leases are charged to the consolidated statements of operations on a straight-line basis over the lease period. |
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Foreign Currency Translation | (u) Foreign Currency Translation The functional currency of the Company is the United States dollar (“U.S. dollar”) and is used as the reporting currency of the Group. Monetary assets and liabilities of the Group’s PRC entities denominated in currencies other than the U.S. dollar are translated into U.S. dollar at the rates of exchange ruling at the balance sheet date. Equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as foreign currency translation adjustment and are shown as a separate component of other comprehensive income in the consolidated statements of comprehensive income. The financial records of the Group’s PRC entities are maintained in local currencies other than the U.S. dollar, such as Renminbi (“RMB”), which are their functional currencies. Transactions in other currencies are recorded at the rates of exchange prevailing when the transactions occur. |
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Comprehensive Income | (v) Comprehensive Income Comprehensive income includes all changes in equity except those resulting from investments by owners and distributions to owners. For the years presented, total comprehensive income included net income and foreign currency translation adjustments. |
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Loans receivable, net | (w) Loans receivable, net Loans receivable represent loan amount due from clients. Loans receivable are initially recognized at fair value which is the cash disbursed to originate loans, measured subsequently at amortized cost using the effective interest method, net of allowance that reflects the Company’s best estimate of the amounts that will not be collected. |
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Allowance for loan losses | (x) Allowance for loan losses The allowance for loan losses is maintained at a level believed to be reasonable by management to absorb probable losses inherent in the portfolio as of each balance sheet date. The allowance is based on factors such as the size and current risk characteristics of the portfolio, an assessment of individual problem loans and actual loss, delinquency, and/or risk rating experience within the portfolio. The Company evaluates its allowance for loan losses on a quarterly basis or more often as deemed necessary. In addition, the Company also calculates the provision amount in accordance with PRC regulation “The Guidance for Loan Losses” issued by People’s Bank of China (“PBOC”) and is applied to all financial institutes as below:
Due to the short term nature of the loans receivable and based on the Company’s past loan loss experience, the Company only includes General Reserve in the loan loss reserve. To the extent the mandatory loan loss reserve rate as required by PBOC differs from management’s estimates, the management elects to use the higher rate. |
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Recently issued accounting pronouncements | (y) Recently issued accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) and International Accounting Standards Board (“IASB”) issued their converged standard on revenue recognition. The objective of the revenue standard Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” is to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. For public companies, the revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Group is in the process of evaluating the impact of the standard on its consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, ‘‘Amendments to the Consolidation Analysis’’, regarding consolidation of legal entities such as limited partnerships, limited liability corporations, and securitization structures. The guidance eliminates the deferral issued by the FASB in February 2010 of the accounting guidance for VIE for certain investment funds, including mutual funds, private equity funds and hedge funds. In addition, the guidance amends the evaluation of fees paid to a decision maker or a service provider, and exempts certain money market funds from consolidation. The guidance will be effective for accounting periods beginning after December 15, 2015 with early adoption permitted. The Group is currently evaluating the potential impact on the Group’s consolidated financial statements. In November 2014, the FASB issued a new pronouncement which provides guidance on determining whether the host contract in a hybrid financial instrument issued in the form of a share is more akin to debt or to equity. The new standard requires management to determine the nature of the host contract by considering the economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption, including adoption in an interim period, is permitted. The effects of initially adopting the amendments in this Update should be applied on a modified retrospective basis to existing hybrid financial instruments issued in the form of a share as of the beginning of the fiscal year for which the amendments are effective. The Group is assessing the effect of adoption of this guidance on the Group’s consolidated financial statements. |
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Business Tax, Policy No definition available.
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Government subsidies No definition available.
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Noncontrolling Interests, Policy No definition available.
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Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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- Definition
Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for comprehensive income. No definition available.
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Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. The accounting policy may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This disclosure also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for costs incurred when both (1) the software is acquired, internally developed, or modified solely to meet the entity's internal needs, and (2) during the software's development or modification, no substantive plan exists or is being developed to market the software externally. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for leasing arrangements (both lessor and lessee). This disclosure may address (1) lease classification (that is, operating versus capital), (2) how the term of a lease is determined (for example, the circumstances in which a renewal option is considered part of the lease term), (3) how rental revenue or expense is recognized for a lease that contains rent escalations, (4) an entity's accounting treatment for deferred rent, including that which arises from lease incentives, rent abatements, rent holidays, or tenant allowances (5) an entity's accounting treatment for contingent rental payments and (6) an entity's policy for reviewing, at least annually, the residual values of sales-type and direct-finance leases. The disclosure also may indicate how the entity accounts for its capital leases, leveraged leases or sale-leaseback transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for estimating the allowance for losses on loans and lease receivables. The disclosure may include (a) how the entity determines each element of the allowance, (b) which loans are evaluated individually and which loans are evaluated as a group, (c) how the entity determines both the allocated and unallocated portions of the allowance, (d) how the entity determines the loss factors applied to graded loans in order to develop a general allowance, and (e) what self-correcting mechanism the entity uses to reduce differences between estimated and actual losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition
Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Organization and Principal Activities (Tables)
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Dec. 31, 2014
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Summary of Subsidiaries | The Company’s significant subsidiaries as of December 31, 2014 include the following:
Noah Investment’s significant subsidiaries as of December 31, 2014 include the following:
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X | ||||||||||
- Definition
Tabular disclosure of the key aspects of a subsidiary (partnership, corporation, or other entity) of the limited liability company or limited partnership. No definition available.
|
Summary of Principal Accounting Policies (Tables)
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Dec. 31, 2014
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Amounts of Noah Investment and its Subsidiaries included in Consolidated Financial Statements | The following amounts of Noah Investment and its subsidiaries were included in the Group’s consolidated financial statements:
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Estimated Useful Lives of Property and Equipment | Property and equipment is stated at cost less accumulated depreciation, and is depreciated using the straight-line method over the following estimated useful lives:
|
X | ||||||||||
- Definition
Schedule Of Property Plant And Equipment Estimated Useful Lives No definition available.
|
X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income per Share (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Computation of Basic and Diluted Net Income per Share Attributable to Ordinary Shareholders | The following table sets forth the computation of basic and diluted net income per share attributable to ordinary shareholders:
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Antidilutive Securities Excluded from Computation of Earning Per Share | Diluted net income per share does not include the following instruments as their inclusion would be antidilutive:
|
X | ||||||||||
- Definition
Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Investment | The following table summarizes the Group’s investment balances:
|
X | ||||||||||
- Definition
Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurement (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Fair Value Measurements of Company's Assets and Liabilities that Measured at Fair Value on A Recurring Basis | As of December 31, 2013 and December 31, 2014, information about inputs into the fair value measurements of the Company’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:
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Fair Value Measurements of Long-term Financial Instruments | As of December 31, 2013 and 2014, information about inputs into the fair value measurements of the Company’s long-term financial instruments that are not reported at fair value on balance sheet is as following:
|
X | ||||||||||
- Definition
Tabular disclosure of assets, 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 and/or nonrecurring 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Property and Equipment, Net (Tables)
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Dec. 31, 2014
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Property and Equipment, Net | Property and equipment, net consists of the following:
|
X | ||||||||||
- Definition
Schedule of Property, Plant and Equipment No definition available.
|
Other Current Liabilities (Tables)
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Dec. 31, 2014
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Other Current Liabilities | Components of other current liabilities are as follows:
|
X | ||||||||||
- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
|
Income Taxes (Tables)
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Dec. 31, 2014
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Tax Expense (Benefit) | The tax expense (benefit) comprises:
|
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Reconciliation Between Statutory Tax Rate to Income Before Income Taxes and Actual Provision for Income Taxes | Reconciliation between the statutory tax rate to income before income taxes and the actual provision for income taxes is as follows:
|
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Principal Components of Deferred Income Tax Asset and Liabilities | The principal components of the deferred income tax asset and liabilities are as follows:
|
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Movement of Uncertain Tax Positions | The movement of the Group’s uncertain tax positions is summarized as follows:
|
X | ||||||||||
- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the change in unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Loans Receivable, Net (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Loans Receivable, Net | Loans receivable as of December 31, 2013 and 2014 consist of the following:
|
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Activity in Allowance for Loan Losses | The following table presents the activity in the allowance for loan losses as of and for the years ended December 31, 2013 and 2014.
|
X | ||||||||||
- Definition
Allowance For Loan Losses Roll forward [Table Text Block] No definition available.
|
X | ||||||||||
- Definition
Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Share-Based Compensation (Tables)
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Dec. 31, 2014
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Share Based Compensation Expense by Type of Award | The following table presents the Company’s share-based compensation expense by type of award:
|
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Black Scholes Pricing Model Assumptions used to Estimate Fair Value of Options Granted | The Group uses the Black-Scholes pricing model and the following assumptions to estimate the fair value of the options granted or modified:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Stock Option Activity | The following table summarizes option activity during the year ended December 31, 2014:
|
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Summary of Non Vested Restricted Share Activity | A summary of non-vested restricted share activity during the year ended December 31, 2014 is presented below:
|
X | ||||||||||
- Definition
Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
|
X | ||||||||||
- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Segment Information (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
|
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Segment Information | Segment information of the Group’s business is as follow:
|
X | ||||||||||
- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Related Party Transactions (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
|
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Significant Related Party Transactions | During the years ended December 31, 2013 and 2014, significant related party transactions were as follows:
|
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Amounts Due from Related Parties | As of December 31, 2013 and 2014, amounts due from related parties associated with the above transactions were comprised of the following:
|
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Deferred Revenues Related to Recurring Management Fee Received in Advance from Related Parties | As of December 31, 2013 and 2014, deferred revenues related to the recurring management fee received in advance from related parties were comprised of the following:
|
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Schedule of Purchase Price Allocation | Shanghai Yafu Investment Consulting Co., Ltd., an investment vehicle of Noah’s employees, acquired 10% of equity interests in four subsidiaries of the Group upon formation of the entities. The subsidiaries invested and the respective purchase price is listed as below.
|
X | ||||||||||
- Definition
Due From Related Parties No definition available.
|
X | ||||||||||
- Definition
Tabular disclosure of the type of arrangements and the corresponding amounts that comprise the current and noncurrent balance of deferred revenue as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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. No definition available.
|
Commitments (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
|||||||||||||||||||||||||||||||||||||||||
Future Minimum Lease Payments Under Non Cancelable Operating Lease Agreements | Future minimum lease payments under non-cancelable operating lease agreements as of December 31, 2014 were as follows:
|
X | ||||||||||
- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date when an entity was incorporated No definition available.
|
X | ||||||||||
- Definition
State or Country Name where an entity is incorporated No definition available.
|
X | ||||||||||
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
X | ||||||||||
- Details
|
Noah Investments Subsidiaries (Detail)
|
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2014
|
||||
Gopher Asset Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Feb. 09, 2012 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 100.00% | |||
Shanghai Noah Investment Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Aug. 26, 2005 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 100.00% | |||
Noah Upright (Shanghai) Fund Investment Consulting Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Sep. 29, 2007 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 100.00% | |||
Shanghai Noah Rongyao Insurance Broker Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Sep. 24, 2008 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 100.00% | |||
Tianjin Gopher Asset Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Mar. 18, 2010 | [1] | ||
Place of Incorporation | PRC | [1] | ||
Percentage of Ownership | 100.00% | [1] | ||
Shanghai Gopher Blue Ray Investment Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Aug. 15, 2012 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 60.00% | |||
Wuhu Gopher Asset Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Oct. 10, 2012 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 100.00% | |||
Shanghai Gopher Asset Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Dec. 14, 2012 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 100.00% | |||
Zhejiang Vanke Noah Assets Management Co., Ltd.
|
||||
Variable Interest Entity [Line Items] | ||||
Date of Incorporation | Mar. 22, 2013 | |||
Place of Incorporation | PRC | |||
Percentage of Ownership | 51.00% | |||
|
X | ||||||||||
- Definition
Date when an entity was incorporated No definition available.
|
X | ||||||||||
- Definition
State or Country Name where an entity is incorporated No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Noah Investments Subsidiaries (Parenthetical) (Detail) (Gopher Asset Management Co., Ltd.)
|
Dec. 31, 2014
|
---|---|
Gopher Asset Management Co., Ltd.
|
|
Variable Interest Entity [Line Items] | |
Equity Interest ownership | 100.00% |
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Organization and Principal Activities - Additional Information (Parenthetical) (Detail) (Tianjin Gopher Asset Management Co., Ltd.)
|
Dec. 31, 2014
|
---|---|
Tianjin Gopher Asset Management Co., Ltd.
|
|
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | |
Equity interest sold to Gopher Asset | 100.00% |
X | ||||||||||
- Definition
Equity Method Investment, Ownership Percentage Sold No definition available.
|
X | ||||||||||
- Details
|
Summary of Principal Accounting Policies - Additional Information (Detail)
|
12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
Dec. 31, 2014
CNY
|
Dec. 31, 2014
Special Mention
|
Dec. 31, 2014
Substandard
|
Dec. 31, 2014
Doubtful
|
Dec. 31, 2014
Loss
|
May 31, 2011
Kunshan Jingzhao Equity Investment Management Co., Ltd.
USD ($)
|
May 31, 2011
Kunshan Jingzhao Equity Investment Management Co., Ltd.
CNY
|
Nov. 30, 2012
Kunshan Vantone Zhengyuan Private Equity Fund Management Co., Ltd
USD ($)
|
Nov. 30, 2012
Kunshan Vantone Zhengyuan Private Equity Fund Management Co., Ltd
CNY
|
Feb. 28, 2013
Wanjia Win-Win Assets Management Co., Ltd.
USD ($)
|
Feb. 28, 2013
Wanjia Win-Win Assets Management Co., Ltd.
CNY
|
Jul. 31, 2013
Wuhu Bona Film Investment Management Limited
USD ($)
|
Jul. 31, 2013
Wuhu Bona Film Investment Management Limited
CNY
|
Dec. 31, 2014
Short-term Loans
|
Dec. 31, 2014
Internet Finance Business
|
Dec. 31, 2014
Fund Managers
|
Dec. 31, 2014
Other Businesses
|
Dec. 31, 2012
Tianjin Gefei Asset Management Co., Ltd
Investment
|
Dec. 31, 2011
Tianjin Gefei Asset Management Co., Ltd
Investment
|
Dec. 31, 2010
Tianjin Gefei Asset Management Co., Ltd
Investment
|
Dec. 31, 2014
Gopher Asset Management Co., Ltd.
fund
Investment
|
Dec. 31, 2013
Gopher Asset Management Co., Ltd.
Investment
fund
|
Dec. 31, 2012
Gopher Asset Management Co., Ltd.
Investment
|
Dec. 31, 2014
Newly Established
Gopher Asset Management Co., Ltd.
Investment
fund
|
Dec. 31, 2013
Newly Established
Gopher Asset Management Co., Ltd.
Investment
fund
|
Dec. 31, 2012
Newly Established
Gopher Asset Management Co., Ltd.
Investment
|
Dec. 31, 2014
Variable Interest Entity, Primary Beneficiary
USD ($)
|
Dec. 31, 2013
Variable Interest Entity, Primary Beneficiary
USD ($)
|
Dec. 31, 2014
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Net Revenue
|
Dec. 31, 2013
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Net Revenue
|
Dec. 31, 2012
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Net Revenue
|
Dec. 31, 2014
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Net Income (Loss)
|
Dec. 31, 2013
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Net Income (Loss)
|
Dec. 31, 2012
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Net Income (Loss)
|
Dec. 31, 2014
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Total Assets
|
Dec. 31, 2013
Variable Interest Entity, Primary Beneficiary
Credit Concentration Risk
Total Assets
|
Dec. 31, 2014
Minimum
|
Dec. 31, 2012
Minimum
Tianjin Gefei Asset Management Co., Ltd
|
Dec. 31, 2014
Minimum
CHINA
|
Dec. 31, 2014
Maximum
|
Dec. 31, 2012
Maximum
Tianjin Gefei Asset Management Co., Ltd
|
Dec. 31, 2014
Maximum
Gopher Asset Management Co., Ltd.
Real Estate Funds
|
Dec. 31, 2013
Maximum
Gopher Asset Management Co., Ltd.
Real Estate Funds
|
Dec. 31, 2014
Maximum
Gopher Asset Management Co., Ltd.
Private Equity Funds Products
|
Dec. 31, 2013
Maximum
Gopher Asset Management Co., Ltd.
Private Equity Funds Products
|
Dec. 31, 2014
Maximum
CHINA
|
|
Significant Accounting Policies [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest-free loans extended to VIE founders | $ 3,600,000 | 27,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest-free loans agreements expiry date | 2023-12 | ||||||||||||||||||||||||||||||||||||||||||||||||
Concentration risk, percentage | 37.10% | 21.20% | 8.30% | 67.00% | 36.30% | 5.10% | 34.00% | 30.70% | |||||||||||||||||||||||||||||||||||||||||
Ownership percentage in affiliate to represent influence | 20.00% | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of private equity funds the company invested | 1 | 6 | 4 | 16 | 3 | 2 | |||||||||||||||||||||||||||||||||||||||||||
Equity Interest ownership | 40.00% | 40.00% | 15.00% | 15.00% | 35.00% | 35.00% | 15.00% | 15.00% | 100.00% | 0.60% | 4.80% | 1.70% | 2.30% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||
Number of real estate funds the company invested | 14 | 75 | 38 | 14 | 75 | 38 | |||||||||||||||||||||||||||||||||||||||||||
Number of secondary market equity funds the company invested | 15 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of fixed income funds the company invested | 12 | 8 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Injected in to a joint venture | 600,000 | 4,000,000 | 600,000 | 3,800,000 | 3,500,000 | 21,000,000 | 100,000 | 800,000 | |||||||||||||||||||||||||||||||||||||||||
Income (loss) from equity in affiliates | 2,200,504 | 1,191,833 | 617,361 | ||||||||||||||||||||||||||||||||||||||||||||||
Investments in affiliates | 35,817,261 | 14,742,364 | 39,662,915 | 18,893,396 | |||||||||||||||||||||||||||||||||||||||||||||
Capitalized software development costs, amortization period | 2 years | 4 years | |||||||||||||||||||||||||||||||||||||||||||||||
Non-controlling interests | 14,028,321 | 10,769,789 | |||||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to non-controlling interests | 2,806,078 | 1,602,867 | 82,712 | ||||||||||||||||||||||||||||||||||||||||||||||
Multiple element arrangements, revenue allocation | If the estimated selling price for recurring services increased (or decreased) by 1%, the revenue allocated to this revenue element would increase (decrease) by 0.1% to 0.7%. | ||||||||||||||||||||||||||||||||||||||||||||||||
Other service fees as percentage of total net revenue | 0.63% | 0.48% | 6.20% | 0.87% | |||||||||||||||||||||||||||||||||||||||||||||
Business tax and related surcharges | 5.35% | 5.70% | |||||||||||||||||||||||||||||||||||||||||||||||
Government subsidies | $ 14,792,142 | $ 5,323,670 | $ 4,295,029 | ||||||||||||||||||||||||||||||||||||||||||||||
General reserve percentage of total loan receivable balance | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||
Loan loss provision rate | 2.00% | 25.00% | 50.00% | 100.00% |
X | ||||||||||
- Definition
Allowance for Loan Losses, Percentage No definition available.
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X | ||||||||||
- Definition
Business Tax And Surcharges Rate No definition available.
|
X | ||||||||||
- Definition
Contracts Expiration Month and Year No definition available.
|
X | ||||||||||
- Definition
Government Subsidies No definition available.
|
X | ||||||||||
- Definition
Number Of Fixed Income Funds No definition available.
|
X | ||||||||||
- Definition
Number Of Private Equity Fund Invested No definition available.
|
X | ||||||||||
- Definition
Number Of Secondary Market Equity Funds No definition available.
|
X | ||||||||||
- Definition
Ownership Interest In Voting Rights Of Investee Required For Significant Influence Minimum No definition available.
|
X | ||||||||||
- Definition
Percentage Of General Reserve No definition available.
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X | ||||||||||
- Definition
Service Fees As Percentage Of Total Annual Revenue No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
For an unclassified balance sheet, reflects the carrying amount of unpaid loan amounts due from related parties at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The number of real estate properties owned as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
The cash outflow associated with the investment in or advances to an entity in which the reporting entity shares control of the entity with another party or group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Describes the effect of changes on the allocation of consideration to a specific unit of accounting caused by a change in the selling price factor applied to a multiple-deliverable arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amounts in Noah Investment and its Subsidiaries Included in Consolidated Financial Statements (Detail) (USD $)
|
12 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
||||||||
Variable Interest Entity [Line Items] | |||||||||||
Cash and cash equivalents | $ 282,081,829 | $ 196,113,315 | $ 119,561,152 | $ 136,859,336 | |||||||
Restricted cash | 161,171 | 165,188 | |||||||||
Short-term investments | 22,182,012 | 28,187,406 | |||||||||
Accounts receivable, net of allowance for doubtful accounts | 10,970,775 | 8,472,013 | |||||||||
Amounts due from related parties | 31,085,548 | 8,924,824 | |||||||||
Deferred tax assets | 3,522,054 | 784,063 | |||||||||
Other current assets | 9,430,135 | 4,695,947 | |||||||||
Long-term investments | 9,870,939 | 13,678,182 | |||||||||
Investment in affiliates | 35,817,261 | 14,742,364 | |||||||||
Property and equipment, net | 14,852,566 | 9,412,313 | |||||||||
Other non-current assets | 1,930,814 | 1,220,033 | |||||||||
Total assets | 431,100,062 | 303,254,657 | |||||||||
Accrued payroll and welfare expenses | 51,649,188 | 29,495,181 | |||||||||
Income tax payable | 8,936,390 | 2,559,614 | |||||||||
Deferred revenue | 15,747,984 | 15,530,968 | |||||||||
Other current liabilities | 27,259,639 | 15,227,247 | |||||||||
Non-current uncertain tax position liabilities | 1,793,459 | 1,650,399 | |||||||||
Total liabilities | 118,449,478 | 68,059,704 | |||||||||
Revenue: | |||||||||||
Third-party revenues | 129,454,969 | 95,989,067 | 65,780,848 | ||||||||
Related party revenues | 132,793,592 | 77,329,868 | 25,982,724 | ||||||||
Total revenues | 262,248,561 | 173,318,935 | 91,763,572 | ||||||||
Less: business taxes and related surcharges | (14,380,469) | (9,547,102) | (5,068,066) | ||||||||
Net revenues | 247,868,092 | 163,771,833 | 86,695,506 | ||||||||
Other income | 7,863,620 | 7,539,142 | 5,426,421 | ||||||||
Net income | 72,406,504 | 51,435,171 | 22,826,454 | ||||||||
Cash flows provided by operating activities | 95,135,759 | 93,969,758 | 29,953,666 | ||||||||
Cash flows used in investing activities | (14,798,221) | (17,141,870) | (34,565,150) | ||||||||
Cash flows provided by financing activities | 9,729,099 | (3,103,229) | (13,791,999) | ||||||||
One Time Commissions
|
|||||||||||
Revenue: | |||||||||||
Third-party revenues | 68,698,354 | 57,972,609 | 39,486,943 | ||||||||
Related party revenues | 29,322,581 | 20,841,594 | 9,392,131 | ||||||||
Recurring Service Fees
|
|||||||||||
Revenue: | |||||||||||
Third-party revenues | 51,892,138 | 32,951,345 | 25,321,982 | ||||||||
Related party revenues | 90,885,669 | 55,508,435 | 16,590,593 | ||||||||
Other Service
|
|||||||||||
Revenue: | |||||||||||
Third-party revenues | 8,864,477 | 5,065,113 | 971,923 | ||||||||
Related party revenues | 12,585,342 | 979,839 | |||||||||
Variable Interest Entity, Primary Beneficiary
|
|||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Cash and cash equivalents | 76,252,171 | 45,443,856 | |||||||||
Restricted cash | 161,171 | 165,188 | |||||||||
Short-term investments | 6,248,761 | 13,872,921 | |||||||||
Accounts receivable, net of allowance for doubtful accounts | 3,775,420 | 1,784,726 | |||||||||
Amounts due from related parties | 12,988,022 | 3,532,343 | |||||||||
Deferred tax assets | 1,841,876 | 604,377 | |||||||||
Other current assets | 1,438,158 | 1,195,057 | |||||||||
Long-term investments | 483,512 | 6,302,362 | |||||||||
Investment in affiliates | 39,662,915 | 18,893,396 | |||||||||
Property and equipment, net | 3,627,715 | 1,109,738 | |||||||||
Other non-current assets | 182,262 | 299,378 | |||||||||
Total assets | 146,661,983 | 93,203,342 | |||||||||
Accrued payroll and welfare expenses | 11,059,108 | 3,078,297 | |||||||||
Income tax payable | 4,518,462 | 2,167,268 | |||||||||
Amounts due to the Group's subsidiaries | 27,289,801 | 34,660,524 | |||||||||
Deferred revenue | 6,105,780 | 8,377,979 | |||||||||
Other current liabilities | 4,475,798 | 961,140 | |||||||||
Non-current uncertain tax position liabilities | 1,019,175 | 1,044,580 | |||||||||
Total liabilities | 54,468,124 | 50,289,788 | |||||||||
Revenue: | |||||||||||
Third-party revenues | 35,188,916 | 11,731,295 | 2,190,467 | [1] | |||||||
Related party revenues | 62,130,226 | 24,978,882 | 5,459,969 | [1] | |||||||
Total revenues | 97,319,142 | 36,710,177 | 7,650,436 | [1] | |||||||
Less: business taxes and related surcharges | (5,457,850) | (2,043,086) | (416,525) | [1] | |||||||
Net revenues | 91,861,292 | 34,667,091 | 7,233,911 | [1] | |||||||
Operating cost and expenses | (29,655,461) | (13,836,442) | (6,409,491) | [1] | |||||||
Other income | 1,930,322 | 2,503,612 | 200,319 | [1] | |||||||
Net income | 50,387,400 | 19,250,180 | 1,168,218 | [1] | |||||||
Cash flows provided by operating activities | 39,849,513 | [2] | 40,988,172 | [2] | 29,624,846 | [1],[2] | |||||
Cash flows used in investing activities | (8,659,151) | (15,809,672) | (21,368,983) | [1] | |||||||
Cash flows provided by financing activities | 220,017 | 6,265,618 | 2,178,103 | [1] | |||||||
Variable Interest Entity, Primary Beneficiary | One Time Commissions
|
|||||||||||
Revenue: | |||||||||||
Third-party revenues | 13,072,826 | 1,171,253 | 31,859 | [1] | |||||||
Related party revenues | 3,485,958 | 465,360 | 331,712 | [1] | |||||||
Variable Interest Entity, Primary Beneficiary | Recurring Service Fees
|
|||||||||||
Revenue: | |||||||||||
Third-party revenues | 18,163,030 | 6,070,762 | 1,200,863 | [1] | |||||||
Related party revenues | 46,376,791 | 23,597,359 | 5,128,257 | [1] | |||||||
Variable Interest Entity, Primary Beneficiary | Other Service
|
|||||||||||
Revenue: | |||||||||||
Third-party revenues | 3,953,060 | 4,489,280 | 957,745 | [1] | |||||||
Related party revenues | 12,267,477 | 916,163 | |||||||||
Variable Interest Entity, Primary Beneficiary | Noah Holdings Limited
|
|||||||||||
Revenue: | |||||||||||
Net income | $ 47,379,799 | $ 17,644,412 | $ 1,086,355 | [1] | |||||||
|
X | ||||||||||
- Definition
The total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
|
X | ||||||||||
- Definition
Business Tax And Surcharges No definition available.
|
X | ||||||||||
- Definition
Gross Revenue No definition available.
|
X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Amounts in Noah Investment and its Subsidiaries Included in Consolidated Financial Statements (Parenthetical) (Detail) (USD $)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Variable Interest Entity [Line Items] | ||
Increase in amounts due to the Group's subsidiaries | $ 27,289,801 | $ 34,660,524 |
X | ||||||||||
- Definition
The increase (decrease) in current obligations (due within one year or one operating cycle) owed to an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Estimated Useful Lives of Property and Equipment (Detail)
|
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Leasehold Improvements
|
|
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | Shorter of the lease term or expected useful life |
Furniture, fixtures, and equipment | Minimum
|
|
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 3 years |
Furniture, fixtures, and equipment | Maximum
|
|
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
Motor Vehicles
|
|
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
Software | Minimum
|
|
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 2 years |
Software | Maximum
|
|
Property, Plant and Equipment [Line Items] | |
Property and equipment, estimated useful lives | 5 years |
X | ||||||||||
- Definition
Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
Computation of Basic and Diluted Net Income per Share Attributable to Ordinary Shareholders (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Computation of Earnings Per Share [Line Items] | |||
Net income attributable to ordinary shareholders-basic and diluted | $ 72,406,504 | $ 51,435,171 | $ 22,826,454 |
Weighted average number of ordinary shares outstanding-basic | 27,873,501 | 27,480,150 | 27,751,335 |
Weighted average number of ordinary shares outstanding-diluted | 28,227,823 | 28,008,386 | 28,073,731 |
Basic net income per share | $ 2.60 | $ 1.87 | $ 0.82 |
Diluted net income per share | $ 2.57 | $ 1.84 | $ 0.81 |
Stock Options
|
|||
Computation of Earnings Per Share [Line Items] | |||
Additional shares included in the calculation of diluted EPS | 178,203 | 229,339 | 249,756 |
Restricted Stock
|
|||
Computation of Earnings Per Share [Line Items] | |||
Additional shares included in the calculation of diluted EPS | 176,119 | 298,897 | 72,640 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Antidilutive Securities Excluded from Computation of Earning Per Share (Detail)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share | 304,045 | 22,994 | 570,432 |
Share options
|
|||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share | 304,045 | 20,000 | 121,784 |
Restricted shares
|
|||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share | 2,994 | 448,648 |
X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Investment (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Short-term investments | ||
Trading securities investments | $ 11,341,097 | |
Held-to-maturity investments | 7,435,461 | 16,846,309 |
Available for sale investments | 14,746,551 | |
Total short-term investments | 22,182,012 | 28,187,406 |
Long-term investments | ||
Held-to-maturity investments | 5,157,464 | 10,480,964 |
Other long-term investments | 4,713,475 | 3,197,218 |
Total long-term investments | 9,870,939 | 13,678,182 |
Total investments | 32,052,951 | 41,865,588 |
Fixed Income Products
|
||
Short-term investments | ||
Trading securities investments | 11,341,097 | |
Held-to-maturity investments | 7,435,461 | 16,846,309 |
Available for sale investments | 14,357,845 | |
Long-term investments | ||
Held-to-maturity investments | 483,512 | 10,480,964 |
Other Products
|
||
Short-term investments | ||
Available for sale investments | 388,706 | |
Long-term investments | ||
Held-to-maturity investments | 4,673,952 | |
Other long-term investments | 2,224,999 | |
Private Equity Funds Products
|
||
Long-term investments | ||
Other long-term investments | $ 2,488,476 | $ 3,197,218 |
X | ||||||||||
- Definition
Amount of investment in debt and equity securities categorized neither as trading securities nor held-to-maturity securities and intended be sold or mature one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after other than temporary impairment (OTTI) accretion, of investments in debt securities classified as held-to-maturity, expected to be converted to cash, sold or exchanged within one year or the normal operating cycle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after other than temporary impairment (OTTI) accretion, of investments in debt securities classified as held-to-maturity, not expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Other long-term investments not otherwise specified in the taxonomy, not including investments in marketable securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Investments - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Schedule of Held-to-maturity Securities [Line Items] | |||
Investment income | $ 6,312,498 | $ 3,302,545 | $ 2,451,731 |
Held-to-maturity investments, long-term | 5,157,464 | 10,480,964 | |
Other comprehensive income-change in fair value of available-for-sale investments | 832,372 | ||
Other comprehensive income-realized gains reclassified from other comprehensive income to "investment income" | 410,048 | ||
Other comprehensive income-net unrealized gains on the available-for-sale investments | 422,324 | ||
Amortized cost of the available-for-sale investments | 14,324,227 | ||
Held-to-maturity investments
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Investment income | 2,027,454 | 2,510,647 | 3,044,856 |
Interest receivable | 862,001 | 856,068 | 539,586 |
Held-to-maturity investments | Debt Securities of Certain Real Estate Funds
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity securities | 7,100,203 | 11,917,947 | |
Held-to-maturity securities, 2016
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity investments, long-term | 2,095,220 | ||
Held-to-maturity securities, 2017
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity investments, long-term | 1,450,536 | ||
Held-to-maturity securities, 2019
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held-to-maturity investments, long-term | 1,611,708 | ||
Trading Securities
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Investment income | 1,390,200 | 1,413,810 | |
PPDAI Group Inc. | Series B Preferred Stock
|
|||
Schedule of Held-to-maturity Securities [Line Items] | |||
Payment to acquire investment | $ 2,224,999 | ||
Percentage of investee's issued share capital | 2.62% |
X | ||||||||||
- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after other than temporary impairment (OTTI) accretion, of investments in debt securities classified as held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after other than temporary impairment (OTTI) accretion, of investments in debt securities classified as held-to-maturity, not expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
X | ||||||||||
- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities and unrealized holding gain (loss) related to transfers of securities into the available-for-sale classification and out of the held-to-maturity classification. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Fair Value Measurements of Company's Assets and Liabilities that Measured at Fair Value on A Recurring Basis (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities investments | $ 11,341,097 | |
Recurring Basis
|
||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities investments | 11,341,097 | |
Available-for-sale investments | 14,746,551 | |
Significant Other Observable Inputs (Level 2) | Recurring Basis
|
||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities investments | 11,341,097 | |
Available-for-sale investments | $ 14,746,551 |
X | ||||||||||
- Definition
Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value Measurement - Additional Information (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets reported at fair value on a non-recurring basis | $ 0 | $ 0 |
Liabilities reported at fair value on a non-recurring basis | $ 0 | $ 0 |
X | ||||||||||
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a nonrecurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Aggregation of the liabilities reported on the balance sheet measured at fair value on a nonrecurring basis by the entity. No definition available.
|
Fair Value Measurements of Company's Long-Term Financial Instruments (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Private Equity Funds Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - cost method investment, Carrying Value | $ 2,488,476 | $ 3,197,218 |
Long-term investment - cost method investment, Fair Value | 3,470,339 | 3,061,319 |
Fixed Income Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - held-to-maturity, Carrying Value | 483,512 | 10,480,964 |
Long-term investment - held-to-maturity, Fair Value | 493,237 | 10,774,099 |
Other Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - cost method investment, Carrying Value | 2,224,999 | |
Long-term investment - held-to-maturity, Carrying Value | 4,673,952 | |
Long-term investment - cost method investment, Fair Value | 2,224,999 | |
Long-term investment - held-to-maturity, Fair Value | 4,920,793 | |
Significant Other Observable Inputs (Level 2) | Fixed Income Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - held-to-maturity, Fair Value | 493,237 | 10,774,099 |
Significant Other Observable Inputs (Level 2) | Other Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - held-to-maturity, Fair Value | 4,920,793 | |
Significant Unobservable Inputs (Level 3) | Private Equity Funds Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - cost method investment, Fair Value | 3,470,339 | 3,061,319 |
Significant Unobservable Inputs (Level 3) | Other Products
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term investment - cost method investment, Fair Value | $ 2,224,999 |
X | ||||||||||
- Definition
Amount, after adjustment, of cost-method investment. Adjustments include, but are not limited to, dividends received in excess of earnings after date of investment that are considered a return of investment and other than temporary impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value portion of investments accounted under the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount after other than temporary impairment (OTTI) accretion, of investments in debt securities classified as held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of investments in debt securities classified as held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Property and Equipment, Net (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Property, Plant and Equipment [Line Items] | ||
Leasehold improvements | $ 9,027,914 | $ 6,284,893 |
Furniture, fixtures and equipment | 6,756,800 | 4,217,114 |
Motor vehicles | 1,168,695 | 1,053,463 |
Software | 4,344,738 | 2,593,932 |
Property, Plant and Equipment, Gross, Total | 21,298,147 | 14,149,402 |
Accumulated depreciation | (8,107,758) | (5,409,226) |
Property Plant And Equipment Net Excluding Construction In Progress, Total | 13,190,389 | 8,740,176 |
Construction in progress | 1,662,177 | 672,137 |
Property and equipment, net | $ 14,852,566 | $ 9,412,313 |
X | ||||||||||
- Definition
Property Plant And Equipment Net Excluding Construction In Progress No definition available.
|
X | ||||||||||
- Definition
Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated amortization of capitalized costs for computer software, including but not limited to, acquired and internally developed computer software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated depreciation of additions or improvements to assets held under a lease arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated depreciation, depletion and amortization of other physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Property and Equipment, Net - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 3,635,799 | $ 2,469,922 | $ 1,814,528 |
X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Other Current Liabilities (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Other Liabilities Current [Line Items] | ||
Accrued expenses | $ 10,763,075 | $ 5,231,299 |
Other payables | 7,816,735 | 2,391,233 |
Other tax payable | 4,105,539 | 1,675,452 |
Accrued professional fees | 2,557,954 | 5,003,932 |
Accrued client service fees | 1,279,587 | 736,165 |
Conference fees payable | 736,749 | 189,166 |
Other liabilities, current | $ 27,259,639 | $ 15,227,247 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Obligations not otherwise itemized or categorized in the footnotes to the financial statements that are due within one year or operating cycle, if longer, from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amounts payable to customers at the balance sheet date. The term customers generally excludes other broker-dealers; persons who are principal officers, directors, and stockholders; and persons whose securities or funds are part of the regulatory net capital of the broker-dealer. Another broker-dealer's account can be classified as a customer if the account is carried as an omnibus account in compliance with certain regulations. The accounts of principal officers, directors and stockholders may be combined in the customer captions if they are not material and the combination is disclosed in the oath that is required to accompany the annual audited FOCUS Report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Income Taxes [Line Items] | |||
Income tax rate | 25.00% | 25.00% | |
Operating loss carry forward | $ 3,600,000 | ||
Operating loss carry forwards expiration year | 2017 | ||
Operating loss carry forward, valuation allowance | 0 | ||
Undistributed profits that the Group has both the intent and ability to permanently reinvest | 190,700,000 | ||
Unrecognized deferred tax liabilities | 16,000,000 | ||
Unrecognized tax benefit, accrued interest in current period | 774,284 | 605,820 | |
Reversal of unrecognized tax benefits previously recorded, statute of limitations | 322,378 | ||
Minimum
|
|||
Income Taxes [Line Items] | |||
Withholding income tax rate | 5.00% | ||
Maximum
|
|||
Income Taxes [Line Items] | |||
Withholding income tax rate | 10.00% | ||
If the underpayment of taxes is due to computational errors made by the taxpayer or withholding agent
|
|||
Income Taxes [Line Items] | |||
Unrecognized tax benefit, statute of limitations | 3 years | ||
If underpayment of tax liability exceeding RMB0.1 million
|
|||
Income Taxes [Line Items] | |||
Unrecognized tax benefit, statute of limitations | 5 years | ||
In the case of a related party transaction
|
|||
Income Taxes [Line Items] | |||
Unrecognized tax benefit, statute of limitations | 10 years | ||
State Administration of Taxation, People's Republic of China
|
|||
Income Taxes [Line Items] | |||
Income tax rate | 25.00% | ||
Inland Revenue, Hong Kong
|
|||
Income Taxes [Line Items] | |||
Income tax rate | 16.50% | ||
Interest Related To Uncertain Tax Positions
|
|||
Income Taxes [Line Items] | |||
Unrecognized tax benefit, accrued interest in current period | $ 168,464 | $ 168,926 | $ 169,389 |
X | ||||||||||
- Definition
Dividend Withholding Tax Rate No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Income Tax Examination, Statute of Limitations Period No definition available.
|
X | ||||||||||
- Definition
Operating Loss Carryforward, Expiration Year No definition available.
|
X | ||||||||||
- Definition
Amount of deferred tax liability not recognized because of the exceptions to comprehensive recognition of deferred taxes related to undistributed earnings of foreign subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of undistributed earnings of foreign subsidiaries intended to be permanently reinvested outside the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of interest expense accrued for an underpayment of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Tax Expense Benefit (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Income Taxes [Line Items] | |||
Current Tax | $ 28,018,330 | $ 16,324,841 | |
Deferred Tax | (3,486,826) | (61,549) | |
Total | $ 24,531,504 | $ 16,263,292 | $ 8,979,649 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Reconciliation Between Statutory Tax Rate to Income Before Income Taxes and Actual Provision for Income Taxes (Detail)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Income Tax Rate Reconciliation [Line Items] | ||
PRC income tax rate | 25.00% | 25.00% |
Expenses not deductible for tax purposes | 0.38% | 0.29% |
Effect of tax-free investment income | (0.62%) | (1.35%) |
Effect of uncertain tax positions | 0.17% | 0.25% |
Effect of different tax rate of subsidiary operation in other jurisdiction | (0.07%) | (0.60%) |
Effect of reversal of deferred tax asset allowance | (0.78%) | |
Effect of nondeductible accumulative losses | 0.00% | 0.00% |
Effect of others | 0.29% | 1.07% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent, Total | 25.15% | 23.88% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income (loss) exempt from income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Principal Components of Deferred Income Tax Asset and Liabilities (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Deferred tax assets: | ||
Accrued expenses | $ 4,409,145 | $ 1,534,183 |
Tax loss carry forward | 904,927 | 619,395 |
Unrealized other income | 509,152 | 454,370 |
Others | 219,705 | 544 |
Gross deferred tax assets | 6,042,929 | 2,608,492 |
Valuation allowance | 0 | 0 |
Net deferred tax assets | 6,042,929 | 2,608,492 |
Current | 3,780,440 | 1,113,723 |
Non-current | 2,262,489 | 1,494,769 |
Deferred tax liabilities: | ||
Unrealized investment income | 258,386 | 329,660 |
Total deferred tax liabilities | 258,386 | 329,660 |
Current | 258,386 | 329,660 |
Non-current | $ 0 | $ 0 |
X | ||||||||||
- Definition
Total Deferred Tax Assets, Net Current No definition available.
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from reserves and accruals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from unrealized losses on trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences net of deferred tax asset attributable to deductible temporary differences and carryforwards after valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from unrealized gains on trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Movement of Uncertain Tax Positions (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Schedule of Unrecognized Tax Benefits [Line Items] | |||
Unrecognized tax benefit, beginning balance | $ 1,650,399 | $ 1,451,897 | $ 1,594,597 |
Gross increases-accrued interest in current period | 168,464 | 168,926 | 169,389 |
Settlements | 0 | 0 | 0 |
Reverse due to lapse of statute of limitation | (322,378) | ||
Exchange rate translation | 29,576 | 10,289 | |
Exchange rate translation | (25,404) | ||
Unrecognized tax benefit, ending balance | $ 1,793,459 | $ 1,650,399 | $ 1,451,897 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of decrease in unrecognized tax benefits resulting from foreign currency translation. No definition available.
|
X | ||||||||||
- Definition
Amount of decrease in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase in unrecognized tax benefits resulting from foreign currency translation. No definition available.
|
X | ||||||||||
- Definition
Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Loans Receivable (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Loans receivable: | ||
Total loans receivable | $ 7,120,523 | $ 15,519,434 |
Allowance for loan losses | (188,054) | (155,194) |
Loans receivable, net | 6,932,469 | 15,364,240 |
Within Credit Term Loans
|
||
Loans receivable: | ||
Total loans receivable | $ 7,120,523 | $ 15,519,434 |
X | ||||||||||
- Definition
A valuation allowance relating to a written agreement to receive money (at a specified future date(s) within one year from the reporting date (or the normal operating cycle, whichever is longer), consisting of principal as well as any accrued interest) for the portion that is expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) within one year of the balance sheet date or the normal operating cycle, whichever is longer. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Loans Receivable, Net - Additional Information (Detail)
|
Dec. 31, 2014
|
---|---|
Minimum
|
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan interest rate | 8.00% |
Maximum
|
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loan interest rate | 15.20% |
X | ||||||||||
- Definition
Loans Receivable Interest Rate No definition available.
|
X | ||||||||||
- Details
|
Activity in Allowance for Loan Losses (Detail) (USD $)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 155,194 | |
Provisions | 249,057 | 155,194 |
Recoveries | (212,423) | |
Charge-offs | 0 | 0 |
Exchange rate translation | (3,774) | |
Ending balance | $ 188,054 | $ 155,194 |
X | ||||||||||
- Definition
Amount of gain (loss) from converting allowance reserve for credit loss to currency of reporting entity from amount denominated or measured in a different currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of loans and leases that have been written off from both loan receivables and allowance reserve for credit loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of recovery of loans and lease receivables which had previously been fully or partially written-off as bad debts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of expense related to estimated loss from loan and lease transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Share Repurchase - Additional Information (Detail) (USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Equity, Class of Treasury Stock [Line Items] | |
Treasury stock acquired, shares | 1,067,816 |
Payment for purchase of treasury stock | $ 11,675,955 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Share Based Compensation Expense by Type of Award (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 5,298,729 | $ 5,245,947 | $ 3,998,548 |
Stock Options
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | 1,464,233 | 205,699 | 1,437,201 |
Restricted Stock
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 3,834,496 | $ 5,040,248 | $ 2,561,347 |
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Share-Based Compensation - Additional Information (Detail) (USD $)
|
12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2014
Conversion of Options to restricted shares
After Modification
|
Dec. 31, 2014
Conversion of Options to restricted shares
Before Modification
|
Dec. 31, 2014
Stock Options
Modification of Exercise Price
After Modification
|
Dec. 31, 2014
Stock Options
Modification of Exercise Price
After Modification
American Depositary Share
|
Dec. 31, 2014
Stock Options
Modification of Exercise Price
Before Modification
|
Dec. 31, 2014
Nonvested Stock Option
Modification of Exercise Price
|
Dec. 31, 2014
Vested Stock Options
Modification of Exercise Price
|
Dec. 31, 2014
Restricted Stock
|
Dec. 31, 2013
Restricted Stock
|
Dec. 31, 2012
Restricted Stock
|
Aug. 06, 2014
Restricted Stock
Modification of Exercise Price
|
Dec. 31, 2014
Restricted Stock
Modification of Exercise Price
|
Aug. 06, 2014
Restricted Stock
Modification of Exercise Price
Independent Directors
|
Aug. 06, 2014
Restricted Stock
Modification of Exercise Price
After Modification
|
Dec. 31, 2014
Restricted Stock
Modification of Exercise Price
After Modification
|
Aug. 06, 2014
Restricted Stock
Modification of Exercise Price
Before Modification
|
Dec. 31, 2014
Restricted Stock
Modification of Exercise Price
Before Modification
|
Dec. 31, 2014
Restricted Stock
Conversion of Options to restricted shares
|
Dec. 31, 2014
Stock Incentive Plan 2008
|
Dec. 31, 2014
Stock Incentive Plan 2010
|
Dec. 31, 2014
Stock Incentive Plan 2010
Stock Options
|
Dec. 31, 2014
Stock Incentive Plan 2010
Stock Options
First anniversary of the grant date
|
Dec. 31, 2014
Stock Incentive Plan 2010
Stock Options
Vesting ratably over the following 36 months
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||||||||
Maximum number of shares that may be issued as a percentage of outstanding stock | 8.00% | 10.00% | ||||||||||||||||||||||||
Maximum number of shares that may be issued | 2,315,000 | |||||||||||||||||||||||||
Stock incentive plans, term | 10 years | |||||||||||||||||||||||||
Stock incentive vesting ratably over the following 36 months | 25.00% | 75.00% | ||||||||||||||||||||||||
Vesting period for remaining the 75% of options granted | 36 months | |||||||||||||||||||||||||
Weighted average grant date fair value of options granted | $ 27.87 | $ 39.64 | ||||||||||||||||||||||||
Options exercised | 128,457 | 153,014 | 75,694 | |||||||||||||||||||||||
Option exercise price | $ 26.21 | $ 13.23 | $ 0 | $ 9.52 | $ 12.12 | $ 6.06 | $ 19.81 | $ 0 | $ 5.58 | |||||||||||||||||
Incremental compensation cost related to plan modified | $ 700,000 | $ 200,000 | $ 300,000 | $ 200,000 | $ 2,200,000 | |||||||||||||||||||||
Unrecognized compensation expense related to unvested share options | 5,452,347 | |||||||||||||||||||||||||
Unrecognized compensation expense, period for recognition | 3 years 3 months 15 days | 1 year 11 months 9 days | 2 years | 2 years | ||||||||||||||||||||||
Restricted shares granted | 83,000 | 150,000 | 19,375 | |||||||||||||||||||||||
Converted to restricted shares | $ 37.03 | $ 0 | $ 37.03 | |||||||||||||||||||||||
Total fair value of non-vested restricted shares | 3,543,512 | 2,702,791 | 2,144,851 | |||||||||||||||||||||||
Unrecognized compensation expense related to non-vested restricted shares | $ 4,526,236 |
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Award Term No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Converted Weighted Average Exercise Price No definition available.
|
X | ||||||||||
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Unrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation. No definition available.
|
X | ||||||||||
- Definition
Unrecognized cost of unvested options awarded to employees as compensation. No definition available.
|
X | ||||||||||
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of vesting of share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Maximum number of shares that may be issued in accordance with the plan as a proportion of outstanding capital stock. No definition available.
|
X | ||||||||||
- Definition
An excess of the fair value of the modified award over the fair value of the award immediately before the modification. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Black Scholes Pricing Model Assumptions used to Estimate Fair Value of Options Granted (Detail)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Average risk-free rate of return | 1.89% | 1.55% | 2.00% |
Weighted average expected option life | 6 years | 5 years 7 months 6 days | 5 years 3 months 18 days |
Estimated volatility | 82.20% | 80.50% | 53.70% |
Average dividend yield | 1.90% |
X | ||||||||||
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Stock Option Activity (Detail) (USD $)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Number of options | ||
Outstanding as of January 1, 2014 | 266,915 | |
Granted | 407,667 | |
Exercised | (128,457) | |
Forfeited | (40,869) | |
Converted to restricted shares | (19,375) | |
Outstanding as of December 31, 2014 | 485,881 | 266,915 |
Vested and expected to vest as of December 31, 2014 | 410,958 | |
Exercisable as of December 31, 2014 | 192,329 | |
Weighted-Average Exercise Price | ||
Outstanding as of January 1, 2014 | $ 13.23 | |
Granted | $ 27.87 | |
Exercised | $ 5.43 | |
Forfeited | $ 18.19 | |
Converted to restricted shares | $ 37.03 | |
Outstanding as of December 31, 2014 | $ 26.21 | $ 13.23 |
Vested and expected to vest as of December 31, 2014 | $ 26.21 | |
Exercisable as of December 31, 2014 | $ 23.76 | |
Weighted-Average Remaining Contractual Term | ||
Outstanding | 8 years 4 months 24 days | 6 years 3 months 18 days |
Outstanding as of December 31, 2014 | 8 years 4 months 24 days | 6 years 3 months 18 days |
Vested and expected to vest as of December 31, 2014 | 8 years 4 months 24 days | |
Exercisable as of December 31, 2014 | 6 years 10 months 24 days | |
Aggregate Intrinsic Value of Options | ||
Outstanding as of January 1, 2014 | $ 7,356,916 | |
Outstanding as of December 31, 2014 | 9,076,068 | 7,356,916 |
Vested and expected to vest as of December 31, 2014 | 7,676,538 | |
Exercisable as of December 31, 2014 | $ 3,623,721 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Conversions In Period. No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Converted Weighted Average Exercise Price No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Stock Issued During Period Shares Options Exercised No definition available.
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount by which the current fair value of the underlying stock exceeds the exercise price of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
X | ||||||||||
- Definition
Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
|
Summary of Non Vested Restricted Share Activity (Detail) (USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Number of non-vested restricted shares | |
Beginning Balance | 555,282 |
Granted | 83,000 |
Vested | (278,779) |
Forfeited | (118,561) |
Converted from options | 19,375 |
Ending Balance | 260,317 |
Weighted-average grant-date fair value | |
Beginning Balance | $ 11.90 |
Granted | $ 27.81 |
Vested | $ 12.71 |
Forfeited | $ 19.66 |
Converted from options | $ 31.64 |
Ending Balance | $ 14.03 |
X | ||||||||||
- Definition
Share Based Compensation Arrangement by Share Based Payment Award, Equity Instruments Other than Options, Converted in Period No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Converted In Period Weighted Average Grant Date Fair Value No definition available.
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefit Plans - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Defined Benefit Plan Disclosure [Line Items] | |||
Contribution for multi-employer defined contribution plan | $ 4,923,483 | $ 2,958,400 | $ 2,277,079 |
X | ||||||||||
- Definition
The increase in the fair value of plan assets from contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Distribution of Profits - Additional Information (Detail) (USD $)
|
0 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Apr. 09, 2013
|
Feb. 25, 2013
|
Apr. 15, 2012
|
Feb. 28, 2012
|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Workers' Compensation Insurance and Reserves [Line Items] | ||||||
Profit after taxation transferred to general reserve fund | 10.00% | |||||
Maximum profit after taxation transferred to general reserve fund | 50.00% | |||||
General reserve fund of PRC subsidiaries | $ 15,893,941 | $ 8,638,712 | ||||
Restricted share capital of PRC subsidiaries | 105,571,519 | 86,907,832 | ||||
Restricted net assets | 121,465,460 | 95,546,544 | ||||
Cash dividend declared | $ 0.28 | $ 0.28 | ||||
Number of american depositary shares in each ordinary share | 2 | 2 | ||||
Dividend distribution | 7,700,000 | 7,900,000 | ||||
Dividend, date of record | Mar. 20, 2013 | Mar. 20, 2012 | ||||
American Depositary Shares
|
||||||
Workers' Compensation Insurance and Reserves [Line Items] | ||||||
Cash dividend declared | $ 0.14 | $ 0.14 | ||||
Variable Interest Entity, Primary Beneficiary
|
||||||
Workers' Compensation Insurance and Reserves [Line Items] | ||||||
Restricted net assets | $ 49,330,429 | $ 21,254,726 |
X | ||||||||||
- Definition
Legal Reserves No definition available.
|
X | ||||||||||
- Definition
Maximum Requirement Of Each Of Entitys Subsidiaries After Tax Profits To Be Allocated To General Reserve Fund As Percentage Of Each Subsidiaries Registered Capital No definition available.
|
X | ||||||||||
- Definition
Number Of American Depositary Shares in Each Ordinary Share No definition available.
|
X | ||||||||||
- Definition
Required Percentage of Entitys After Tax Profits to Allocate to Statutory Common Reserve No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of restricted net assets of consolidated and unconsolidated subsidiaries as of the end of the most recently completed fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the holder must own the stock to be entitled to the dividend, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition
Disclosure of the amount of equity that is restricted to use by regulation or agreement. No definition available.
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Segment Reporting (Detail)
|
12 Months Ended |
---|---|
Dec. 31, 2014
Segment
|
|
Segment Reporting Information [Line Items] | |
Number of reportable segments | 3 |
X | ||||||||||
- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
X | ||||||||||
- Details
|
Segment Information (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Revenues: | |||
Total third-party revenues | $ 129,454,969 | $ 95,989,067 | $ 65,780,848 |
Total related party revenues | 132,793,592 | 77,329,868 | 25,982,724 |
Total revenues | 262,248,561 | 173,318,935 | 91,763,572 |
Less: business taxes and related surcharges | (14,380,469) | (9,547,102) | (5,068,066) |
Net revenues | 247,868,092 | 163,771,833 | 86,695,506 |
Operating cost and expenses: | |||
Relationship manager compensation | (52,246,943) | (33,436,866) | (17,551,483) |
Performance fee compensation | (3,536,240) | ||
Other compensations | (63,826,889) | (39,606,754) | (24,823,446) |
Total compensation and benefits | (119,610,072) | (73,043,620) | (42,374,929) |
Selling expenses | (23,896,620) | (16,660,044) | (13,449,421) |
General and administrative expenses | (24,611,880) | (18,087,184) | (8,901,330) |
Other operating expenses | (4,861,700) | (734,300) | (419,822) |
Government subsidies | 14,792,142 | 5,323,670 | 4,295,029 |
Total operating cost and expenses | (158,188,130) | (103,201,478) | (60,850,473) |
Income from operations | 89,679,962 | 60,570,355 | 25,845,033 |
One Time Commissions
|
|||
Revenues: | |||
Total third-party revenues | 68,698,354 | 57,972,609 | 39,486,943 |
Total related party revenues | 29,322,581 | 20,841,594 | 9,392,131 |
Recurring Service Fees
|
|||
Revenues: | |||
Total third-party revenues | 51,892,138 | 32,951,345 | 25,321,982 |
Total related party revenues | 90,885,669 | 55,508,435 | 16,590,593 |
Other Service
|
|||
Revenues: | |||
Total third-party revenues | 8,864,477 | 5,065,113 | 971,923 |
Total related party revenues | 12,585,342 | 979,839 | |
Wealth Management
|
|||
Revenues: | |||
Total third-party revenues | 111,653,144 | 91,138,933 | 65,521,321 |
Total related party revenues | 85,319,728 | 58,088,317 | 22,004,151 |
Total revenues | 196,972,872 | 149,227,250 | 87,525,472 |
Less: business taxes and related surcharges | (11,129,939) | (8,237,942) | (4,833,186) |
Net revenues | 185,842,933 | 140,989,308 | 82,692,286 |
Operating cost and expenses: | |||
Relationship manager compensation | (51,843,587) | (33,362,053) | (17,551,483) |
Other compensations | (34,851,929) | (31,077,968) | (22,810,897) |
Total compensation and benefits | (86,695,516) | (64,440,021) | (40,362,380) |
Selling expenses | (21,951,311) | (15,117,644) | (13,407,087) |
General and administrative expenses | (12,117,434) | (14,037,239) | (8,385,882) |
Other operating expenses | (3,836,816) | (694,460) | (414,959) |
Government subsidies | 10,943,240 | 4,997,145 | 4,295,029 |
Total operating cost and expenses | (113,657,837) | (89,292,219) | (58,275,279) |
Income from operations | 72,185,096 | 51,697,089 | 24,417,007 |
Wealth Management | One Time Commissions
|
|||
Revenues: | |||
Total third-party revenues | 68,698,354 | 57,760,283 | 39,486,943 |
Total related party revenues | 29,322,581 | 20,404,683 | 9,392,131 |
Wealth Management | Recurring Service Fees
|
|||
Revenues: | |||
Total third-party revenues | 39,462,923 | 28,434,140 | 25,062,455 |
Total related party revenues | 55,589,582 | 37,492,722 | 12,612,020 |
Wealth Management | Other Service
|
|||
Revenues: | |||
Total third-party revenues | 3,491,867 | 4,944,510 | 971,923 |
Total related party revenues | 407,565 | 190,912 | |
Asset Management Business
|
|||
Revenues: | |||
Total third-party revenues | 15,084,936 | 4,850,134 | 259,527 |
Total related party revenues | 47,329,945 | 19,241,551 | 3,978,573 |
Total revenues | 62,414,881 | 24,091,685 | 4,238,100 |
Less: business taxes and related surcharges | (3,127,877) | (1,309,160) | (234,880) |
Net revenues | 59,287,004 | 22,782,525 | 4,003,220 |
Operating cost and expenses: | |||
Relationship manager compensation | (38,246) | (74,813) | |
Performance fee compensation | (3,536,240) | ||
Other compensations | (20,282,224) | (8,528,786) | (2,012,549) |
Total compensation and benefits | (23,856,710) | (8,603,599) | (2,012,549) |
Selling expenses | (1,583,422) | (1,542,400) | (42,334) |
General and administrative expenses | (9,755,093) | (4,049,945) | (515,448) |
Other operating expenses | (272,047) | (39,840) | (4,863) |
Government subsidies | 3,844,512 | 326,525 | |
Total operating cost and expenses | (31,622,760) | (13,909,259) | (2,575,194) |
Income from operations | 27,664,244 | 8,873,266 | 1,428,026 |
Asset Management Business | One Time Commissions
|
|||
Revenues: | |||
Total third-party revenues | 212,326 | ||
Total related party revenues | 436,911 | ||
Asset Management Business | Recurring Service Fees
|
|||
Revenues: | |||
Total third-party revenues | 12,429,215 | 4,517,205 | 259,527 |
Total related party revenues | 35,291,220 | 18,015,713 | 3,978,573 |
Asset Management Business | Other Service
|
|||
Revenues: | |||
Total third-party revenues | 2,655,721 | 120,603 | |
Total related party revenues | 12,038,725 | 788,927 | |
Internet Finance Business
|
|||
Revenues: | |||
Total third-party revenues | 2,716,889 | ||
Total related party revenues | 143,919 | ||
Total revenues | 2,860,808 | ||
Less: business taxes and related surcharges | (122,653) | ||
Net revenues | 2,738,155 | ||
Operating cost and expenses: | |||
Relationship manager compensation | (365,110) | ||
Other compensations | (8,692,736) | ||
Total compensation and benefits | (9,057,846) | ||
Selling expenses | (361,887) | ||
General and administrative expenses | (2,739,353) | ||
Other operating expenses | (752,837) | ||
Government subsidies | 4,390 | ||
Total operating cost and expenses | (12,907,533) | ||
Income from operations | (10,169,378) | ||
Internet Finance Business | Recurring Service Fees
|
|||
Revenues: | |||
Total related party revenues | 4,867 | ||
Internet Finance Business | Other Service
|
|||
Revenues: | |||
Total third-party revenues | 2,716,889 | ||
Total related party revenues | $ 139,052 |
X | ||||||||||
- Definition
Business Tax And Surcharges No definition available.
|
X | ||||||||||
- Definition
Government Subsidies No definition available.
|
X | ||||||||||
- Definition
Gross Revenue No definition available.
|
X | ||||||||||
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expenditures for salaries of officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of payroll tax expense, compensation, postemployment and benefit-related expenses not elsewhere specified in the taxonomy (such as health plan, profit sharing, incentives, tuition reimbursement, other fringe benefits and perquisites) incurred in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expenditures for salaries for officers and non-officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. No definition available.
|
X | ||||||||||
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Significant Related Party Transactions (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Related Party Transaction [Line Items] | |||
Related party revenues | $ 132,793,592 | $ 77,329,868 | $ 25,982,724 |
One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 29,322,581 | 20,841,594 | 9,392,131 |
Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 90,885,669 | 55,508,435 | 16,590,593 |
Shanghai Gopher Asset Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 9,264,250 | ||
Shanghai Gopher Asset Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 10,276,509 | ||
Shanghai Gopher Asset Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 48,654 | ||
Gopher Asset Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 5,093,514 | 2,161,933 | 3,866,439 |
Gopher Asset Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 15,790,524 | 11,827,050 | 2,504,815 |
Gopher Asset Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 10,607,614 | ||
Gopher Capital GP | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 3,502,034 | 20,004 | 159,257 |
Gopher Capital GP | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 5,091,211 | 34,003 | 14,002 |
Gopher- Nuobao (Shanghai) Asset Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 2,738,586 | ||
Gopher- Nuobao (Shanghai) Asset Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 184,414 | ||
Gopher- Nuobao (Shanghai) Asset Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 11,294 | ||
Wanjia Win-Win Assets Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 2,224,784 | 433,024 | |
Wanjia Win-Win Assets Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 15,333,971 | 5,047,542 | |
Wuhu Gopher Asset Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 2,168,853 | 5,570,754 | 1,226,227 |
Wuhu Gopher Asset Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 12,925,380 | 10,665,773 | 191,757 |
Wuhu Gopher Asset Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 336,107 | ||
Shanghai Gopher Languang Investment Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,106,637 | 3,489,082 | 819,199 |
Shanghai Gopher Languang Investment Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 3,301,240 | 4,885,604 | 459,439 |
Shanghai Gopher Languang Investment Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,145,515 | 561,458 | |
Shanghai Gopher Zhengda Damuzhi Investment Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 582,521 | ||
Shanghai Gopher Zhengda Damuzhi Investment Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 798,399 | ||
Hangzhou Sequoia Heyuan Capital Investment Fund (Limited Partnership) | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 513,558 | 131,164 | 1,024,790 |
Hangzhou Sequoia Heyuan Capital Investment Fund (Limited Partnership) | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 906,687 | ||
Sequoia Capital Investment Management (Tianjin) Co., Ltd | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 481,461 | 127,965 | 218,860 |
Hangzhou Vanke Investment Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 427,429 | 5,077,871 | |
Hangzhou Vanke Investment Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 6,058,713 | 3,151,268 | |
Hangzhou Vanke Investment Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 10,225 | ||
Shareholder transaction | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 426,154 | ||
Shareholder transaction | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 59,481 | ||
Shareholder transaction | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 2,541 | ||
Tianjin Gopher Asset Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 403,099 | 31,991 | 645,699 |
Tianjin Gopher Asset Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 4,082,036 | 3,876,955 | 3,622,393 |
Kunshan Jingzhao Equity Investment Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 248,201 | 717,565 | 215,657 |
Kunshan Jingzhao Equity Investment Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 2,552,337 | 2,742,184 | 2,111,583 |
Kunshan Jingzhao Equity Investment Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,299 | ||
Gopher RE Credit Fund SP | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 123,847 | ||
Shaoxing Sequoia Huiyuan Capital Investment Fund (Limited Partnership) | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 16,049 | 359,671 | 411,614 |
Financial Products Held By Shareholders | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,604 | 21,906 | |
Wuhu Bona Film Investment Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,037,354 | ||
Wuhu Bona Film Investment Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,142,560 | 331,157 | |
Chongqing Gopher Longxin Equity Investment Management Co., Ltd. | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 807,242 | 748,914 | |
Chongqing Gopher Longxin Equity Investment Management Co., Ltd. | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,675,845 | 2,893,066 | 268,632 |
Gopher investment Fund SPC | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 761,105 | ||
Gopher investment Fund SPC | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 528,338 | ||
Financial Products Invested By Group And Affiliates | One Time Commissions
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 92,962 | 55,475 | |
Financial Products Invested By Group And Affiliates | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 313 | 1,140,375 | 1,010,330 |
Sequoia Capital Investment Management Tianjin Company Limited | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 8,546,576 | 8,385,120 | 6,407,642 |
Shanghai Gopher Investment Management Company Limited | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 1,283,681 | ||
Beijing Sequoia Heyuan Capital Investment Fund Limited Partnership | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 850,019 | ||
Noah Holdings (Hong Kong) Limited | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 25,260 | ||
Gopher Asset Management Co., Ltd., Subsidiary | Recurring Service Fees
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 513 | ||
Wanjia Win-Win Assets Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | 756,696 | 82,275 | |
Yiwu Xinguang Equity Investment Fund Management Co., Ltd. | Other Service Fee
|
|||
Related Party Transaction [Line Items] | |||
Related party revenues | $ 1,504 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Amounts Due from Related Parties (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Related Party Transaction [Line Items] | ||
Amounts due from related parties | $ 31,085,548 | $ 8,924,824 |
Wanjia Win-Win Assets Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 8,330,419 | 3,005,600 |
Wuhu Gopher Asset Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 3,731,866 | 856,879 |
Gopher Capital GP
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 3,535,483 | 738,725 |
Kunshan Jingzhao Equity Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 3,264,336 | 2,704,988 |
Shanghai Gopher Languang Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 2,244,540 | 729,933 |
Gopher Asset Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 1,494,061 | |
Hangzhou Vanke Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 1,054,369 | 778,562 |
Gopher Nuobao Asset Management Company Limited
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 174,865 | |
Chongqing Gopher Longxin Equity Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 1,057 | 1,082 |
Shanghai Nuobang Asset Management Company Limited
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 280 | |
Yiwu Xinguang Equity Investment Fund Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | 7,254,174 | |
Tianjin Gopher Asset Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Amounts due from related parties | $ 98 | $ 109,055 |
X | ||||||||||
- Definition
For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Deferred Revenues Related to Recurring Management Fee Received in Advance from Related Parties (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | $ 13,426,881 | $ 9,187,091 |
Shanghai Gopher Languang Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 5,189,571 | 292,272 |
Wuhu Gopher Investment Management Company Limited
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 2,881,465 | 924,018 |
Wanjia Win-Win Assets Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 2,624,558 | 1,774,667 |
Gopher Asset Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 671,541 | 1,100,107 |
Hangzhou Vanke Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 559,587 | 2,130,255 |
Kunshan Jingzhao Equity Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 643,641 | 201,902 |
Gopher Nuobao Asset Management Company Limited
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 383,320 | |
Chongqing Gopher Longxin Equity Investment Management Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 337,917 | 236,586 |
Gopher Capital GP
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | 135,281 | 576,937 |
Sequoia Capital Investment Management Tianjin Company Limited
|
||
Related Party Transaction [Line Items] | ||
Deferred revenue from related parties | $ 1,950,347 |
X | ||||||||||
- Definition
Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Related Party Transactions (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Related Party Transaction [Line Items] | ||
Donations | $ 2.4 | |
Shanghai Yafu Investment Consulting Co., Ltd.
|
||
Related Party Transaction [Line Items] | ||
Ownership percentage | 10.00% | |
Shanghai Yafu Investment Consulting Co., Ltd. | Subsidiaries
|
||
Related Party Transaction [Line Items] | ||
Number of businesses acquired | 4 |
X | ||||||||||
- Definition
Donation Payments Made During Period No definition available.
|
X | ||||||||||
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of businesses acquired by the entity during the period. No definition available.
|
X | ||||||||||
- Details
|
Purchase Price Allocations (Detail) (Shanghai Yafu Investment Consulting Co., Ltd.)
|
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
CNY
|
Dec. 31, 2014
Noah Ark (Shanghai) Financial Service Co., Ltd.
USD ($)
|
Dec. 31, 2014
Noah Ark (Shanghai) Financial Service Co., Ltd.
CNY
|
Dec. 31, 2014
Shanghai Noah Yijie Finance Technology Co., Ltd.
USD ($)
|
Dec. 31, 2014
Shanghai Noah Yijie Finance Technology Co., Ltd.
CNY
|
Dec. 31, 2014
Shanghai Noah Jintong Data Services Co., Ltd.
USD ($)
|
Dec. 31, 2014
Shanghai Noah Jintong Data Services Co., Ltd.
CNY
|
Dec. 31, 2014
Enoch Education Training Shanghai Co., Ltd.
USD ($)
|
Dec. 31, 2014
Enoch Education Training Shanghai Co., Ltd.
CNY
|
|
Business Combination Allocation of Purchase Price [Line Items] | ||||||||||
Purchase price | $ 1,934,049 | 12,000,000 | $ 805,854 | 5,000,000 | $ 483,512 | 3,000,000 | $ 483,512 | 3,000,000 | $ 161,171 | 1,000,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Future Minimum Lease Payments Under Non-Cancelable Operating Lease (Detail) (USD $)
|
Dec. 31, 2014
|
---|---|
Leases Future Minimum Payments [Line Items] | |
2015 | $ 6,076,979 |
2016 | 4,975,209 |
2017 | 3,258,704 |
2018 | 4,129,875 |
2019 and after | 4,762,088 |
Total | $ 23,202,855 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Leases Disclosure [Line Items] | |||
Rental expenses | $ 7,604,551 | $ 7,054,682 | $ 5,175,287 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Subsequent Events - Additional Information (Detail) (Subsequent Event, USD $)
In Millions, except Per Share data, unless otherwise specified |
1 Months Ended | |
---|---|---|
Mar. 31, 2015
Shanghai Noah Yijie Finance Technology Co., Ltd.
SCC Venture V Holdco I, Ltd.
|
Feb. 28, 2015
Convertible notes
|
|
Subsequent Event [Line Items] | ||
Debt instrument, face amount | $ 80 | |
Debt instrument, interest rate | 3.50% | |
Debt instrument, maturity period | February 2020 | |
Debt instrument, initial conversion price | $ 23.03 | |
Percentage of equity shares | 9.80% | |
Purchase consideration | $ 5.0 |
X | ||||||||||
- Definition
Debt Instrument Maturity Month Year No definition available.
|
X | ||||||||||
- Definition
Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
X | ||||||||||
- Details
|
Condensed Balance Sheets (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|---|
Current assets | ||||
Cash and cash equivalents | $ 282,081,829 | $ 196,113,315 | $ 119,561,152 | $ 136,859,336 |
Deferred tax assets | 3,522,054 | 784,063 | ||
Other current assets | 9,430,135 | 4,695,947 | ||
Total current assets | 366,365,993 | 262,706,996 | ||
Investment in subsidiaries and VIEs | 35,817,261 | 14,742,364 | ||
Non-current deferred tax assets | 2,262,489 | 1,494,769 | ||
Other non-current assets | 1,930,814 | 1,220,033 | ||
Total assets | 431,100,062 | 303,254,657 | ||
Current liabilities | ||||
Other current liabilities | 27,259,639 | 15,227,247 | ||
Total current liabilities | 111,651,738 | 62,813,010 | ||
Uncertain tax position liabilities | 1,793,459 | 1,650,399 | ||
Other non-current liabilities | 5,004,281 | 3,596,295 | ||
Total liabilities | 118,449,478 | 68,059,704 | ||
Shareholders' equity | ||||
Ordinary shares ($0.0005 par value): 94,100,000 shares authorized, 28,715,882 shares issued and 27,648,066 shares outstanding as of December 31, 2013 and 29,123,118 shares issued and 28,055,302 shares outstanding as of December 31, 2014 | 14,561 | 14,358 | ||
Treasury stock (1,067,816 ordinary shares at both December 31, 2013 and December 31, 2014) | (11,675,955) | (11,675,955) | ||
Additional paid-in capital | 135,640,392 | 129,687,092 | ||
Retained earnings | 169,525,124 | 97,118,620 | ||
Accumulated other comprehensive income | 5,118,141 | 9,281,049 | ||
Total shareholders' equity | 298,622,263 | 224,425,164 | ||
Total Liabilities and Equity | 431,100,062 | 303,254,657 | ||
Parent Company
|
||||
Current assets | ||||
Cash and cash equivalents | 28,871,793 | 42,689,231 | 50,987,910 | 84,371,832 |
Due from subsidiaries and VIEs | 36,220,656 | 38,453,506 | ||
Deferred tax assets | 78,574 | 64,755 | ||
Other current assets | 4,143,658 | 730,102 | ||
Total current assets | 69,314,681 | 81,937,594 | ||
Investment in subsidiaries and VIEs | 232,083,557 | 144,678,555 | ||
Non-current deferred tax assets | 430,578 | 389,615 | ||
Other non-current assets | 50,000 | |||
Total assets | 301,878,816 | 227,005,764 | ||
Current liabilities | ||||
Other current liabilities | 1,185,921 | 691,734 | ||
Total current liabilities | 1,185,921 | 691,734 | ||
Uncertain tax position liabilities | 774,284 | 605,820 | ||
Other non-current liabilities | 1,296,348 | 1,283,046 | ||
Total liabilities | 3,256,553 | 2,580,600 | ||
Shareholders' equity | ||||
Ordinary shares ($0.0005 par value): 94,100,000 shares authorized, 28,715,882 shares issued and 27,648,066 shares outstanding as of December 31, 2013 and 29,123,118 shares issued and 28,055,302 shares outstanding as of December 31, 2014 | 14,561 | 14,358 | ||
Treasury stock (1,067,816 ordinary shares at both December 31, 2013 and December 31, 2014) | (11,675,955) | (11,675,955) | ||
Additional paid-in capital | 135,640,392 | 129,687,092 | ||
Retained earnings | 169,525,124 | 97,118,620 | ||
Accumulated other comprehensive income | 5,118,141 | 9,281,049 | ||
Total shareholders' equity | 298,622,263 | 224,425,164 | ||
Total Liabilities and Equity | $ 301,878,816 | $ 227,005,764 |
X | ||||||||||
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The noncurrent portion of the amount recognized for uncertain tax positions as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Balance Sheets (Parenthetical) (Detail) (USD $)
|
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Condensed Financial Statements, Captions [Line Items] | ||
Ordinary shares, par value | $ 0.0005 | $ 0.0005 |
Ordinary shares, shares authorized | 94,100,000 | 94,100,000 |
Ordinary shares, shares issued | 29,123,118 | 28,715,882 |
Ordinary shares, shares outstanding | 28,055,302 | 27,648,066 |
Ordinary shares, treasury stock | 1,067,816 | 1,067,816 |
Parent Company
|
||
Condensed Financial Statements, Captions [Line Items] | ||
Ordinary shares, par value | $ 0.0005 | $ 0.0005 |
Ordinary shares, shares authorized | 94,100,000 | 94,100,000 |
Ordinary shares, shares issued | 29,123,118 | 28,715,882 |
Ordinary shares, shares outstanding | 28,055,302 | 27,648,066 |
Ordinary shares, treasury stock | 1,067,816 | 1,067,816 |
X | ||||||||||
- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Statement of Operations (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Condensed Financial Statements, Captions [Line Items] | |||
Net revenues | $ 247,868,092 | $ 163,771,833 | $ 86,695,506 |
Operating cost and expenses | |||
Compensation and benefits | 119,610,072 | 73,043,620 | 42,374,929 |
Selling expenses | 23,896,620 | 16,660,044 | 13,449,421 |
General and administrative expenses | 24,611,880 | 18,087,184 | 8,901,330 |
Total operating cost and expenses | 158,188,130 | 103,201,478 | 60,850,473 |
Loss from operations | 89,679,962 | 60,570,355 | 25,845,033 |
Other income (expenses): | |||
Interest income | 6,312,498 | 3,302,545 | 2,451,731 |
Investment income | 3,821,469 | 3,924,457 | 3,044,856 |
Other income (expenses) | (2,386,171) | 3,423 | 110,690 |
Total other income | 7,863,620 | 7,539,142 | 5,426,421 |
(Loss) gain before taxes and income from equity in subsidiaries and VIEs | 97,543,582 | 68,109,497 | 31,271,454 |
Income tax expenses | (24,531,504) | (16,263,292) | (8,979,649) |
Equity in profit of subsidiaries and VIEs | 2,200,504 | 1,191,833 | 617,361 |
Net income attributable to Noah Holdings Limited shareholders | 72,406,504 | 51,435,171 | 22,826,454 |
Parent Company
|
|||
Condensed Financial Statements, Captions [Line Items] | |||
Net revenues | 0 | 0 | 0 |
Operating cost and expenses | |||
Compensation and benefits | 1,643,361 | 487,435 | |
Selling expenses | 27,217 | 24,281 | 15,995 |
General and administrative expenses | 1,569,786 | 815,650 | 1,263,771 |
Total operating cost and expenses | 3,240,364 | 839,931 | 1,767,201 |
Loss from operations | (3,240,364) | (839,931) | (1,767,201) |
Other income (expenses): | |||
Interest income | 900,413 | 352,072 | 1,157,512 |
Investment income | 107,019 | ||
Other income (expenses) | (73,235) | 815,020 | 118,539 |
Total other income | 827,178 | 1,274,111 | 1,276,051 |
(Loss) gain before taxes and income from equity in subsidiaries and VIEs | (2,413,186) | 434,180 | (491,150) |
Income tax expenses | (205,810) | (232,692) | (222,265) |
Equity in profit of subsidiaries and VIEs | 75,025,500 | 51,233,683 | 23,539,869 |
Net income attributable to Noah Holdings Limited shareholders | $ 72,406,504 | $ 51,435,171 | $ 22,826,454 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Condensed Statement of Comprehensive Income (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Condensed Statement of Income Captions [Line Items] | |||
Net income | $ 72,406,504 | $ 51,435,171 | $ 22,826,454 |
Other comprehensive income, net of tax | |||
Change in cumulative foreign currency translation adjustment | (5,163,862) | 4,508,372 | 1,370,387 |
Fair value fluctuation of available-for-sale investment | 422,324 | ||
Other comprehensive income | (4,741,538) | 4,508,372 | 1,370,387 |
Comprehensive income | 70,471,044 | 57,546,410 | 24,279,553 |
Parent Company
|
|||
Condensed Statement of Income Captions [Line Items] | |||
Net income | 72,406,504 | 51,435,171 | 22,826,454 |
Other comprehensive income, net of tax | |||
Change in cumulative foreign currency translation adjustment | (4,585,232) | 4,231,071 | 1,336,728 |
Fair value fluctuation of available-for-sale investment | 422,324 | ||
Other comprehensive income | (4,162,908) | 4,231,071 | 1,336,728 |
Comprehensive income | $ 68,243,596 | $ 55,666,242 | $ 24,163,182 |
X | ||||||||||
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Condensed Statements of Cash flows (Detail) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Cash flows from operating activities: | |||
Net income attributable to Noah shareholders | $ 72,406,504 | $ 51,435,171 | $ 22,826,454 |
Adjustment to reconcile net income to net cash provided by operating activities: | |||
Share-based compensation | 5,298,729 | 5,245,947 | 3,998,548 |
Gain from equity in subsidiaries and VIE | (2,200,504) | (1,191,833) | (617,361) |
Changes in operating assets and liabilities: | |||
Amount due from related party | (15,107,132) | (4,306,913) | (2,740,357) |
Other current assets | (4,895,013) | (1,524,067) | (1,090,320) |
Deferred tax assets | (3,545,825) | 1,761,367 | (476,354) |
Uncertain tax position liabilities | 168,465 | 168,926 | (156,289) |
Other current liabilities | 12,728,660 | 7,690,762 | 2,706,750 |
Other non-current liabilities | 1,464,246 | 1,483,015 | 227,196 |
Net cash provided by (used in) operating activities | 95,135,759 | 93,969,758 | 29,953,666 |
Cash flows from investing activities: | |||
Proceeds from sale of available for sale | 7,397,738 | 4,949,984 | |
Purchases of available for sale | (18,112,567) | (4,949,984) | |
Investment in subsidiaries and VIEs | (19,568,814) | (8,483,375) | (3,198,240) |
Net cash used in investing activities | (14,798,221) | (17,141,870) | (34,565,150) |
Cash flows from financing activities: | |||
Proceeds from issuance of ordinary shares upon exercise of stock options | 654,774 | 1,130,401 | 407,569 |
Share repurchase | (11,675,955) | ||
Net cash (used in) provided by financing activities | 9,729,099 | (3,103,229) | (13,791,999) |
Net increase (decrease) in cash and cash equivalents | 85,968,514 | 76,552,163 | (17,298,184) |
Cash and cash equivalents-beginning of the period | 196,113,315 | 119,561,152 | 136,859,336 |
Cash and cash equivalents-end of the period | 282,081,829 | 196,113,315 | 119,561,152 |
Parent Company
|
|||
Cash flows from operating activities: | |||
Net income attributable to Noah shareholders | 72,406,504 | 51,435,171 | 22,826,454 |
Adjustment to reconcile net income to net cash provided by operating activities: | |||
Share-based compensation | 1,643,361 | 487,435 | |
Gain from equity in subsidiaries and VIE | (75,025,500) | (51,233,683) | (23,539,869) |
Changes in operating assets and liabilities: | |||
Amount due from related party | 2,232,850 | 929,736 | 405,905 |
Other current assets | (3,463,556) | (309,674) | (223,065) |
Deferred tax assets | (54,782) | (40,153) | 52,879 |
Uncertain tax position liabilities | 168,464 | 168,926 | 169,389 |
Other current liabilities | 494,187 | 352,432 | (419,372) |
Other non-current liabilities | 13,302 | 96,942 | (173,576) |
Net cash provided by (used in) operating activities | (1,585,170) | 1,399,697 | (413,820) |
Cash flows from investing activities: | |||
Proceeds from sale of available for sale | 4,949,984 | ||
Purchases of available for sale | (4,949,984) | ||
Increase in amount due from subsidiaries and VIEs | (17,000,000) | ||
Investment in subsidiaries and VIEs | (12,887,042) | ||
Net cash used in investing activities | (12,887,042) | (17,000,000) | |
Cash flows from financing activities: | |||
Dividends paid | (7,673,585) | (7,856,908) | |
Proceeds from issuance of ordinary shares upon exercise of stock options | 654,774 | 1,130,401 | 407,569 |
Share repurchase | (3,155,192) | (8,520,763) | |
Net cash (used in) provided by financing activities | 654,774 | (9,698,376) | (15,970,102) |
Net increase (decrease) in cash and cash equivalents | (13,817,438) | (8,298,679) | (33,383,922) |
Cash and cash equivalents-beginning of the period | 42,689,231 | 50,987,910 | 84,371,832 |
Cash and cash equivalents-end of the period | $ 28,871,793 | $ 42,689,231 | $ 50,987,910 |
X | ||||||||||
- Definition
The net change during the period in the amount recognized for uncertain tax positions. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the 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. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other current operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow from advancing money to an affiliate (an entity that is related but not strictly controlled by the entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|