SEC Info - China United Insurance Service, Inc. - ‘10-K’ for 12/31/18

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    812K 
 2: EX-10.76    Material Contract                                   HTML     40K 
 3: EX-10.77    Material Contract                                   HTML     45K 
 4: EX-10.78    Material Contract                                   HTML     39K 
 5: EX-10.79    Material Contract                                   HTML     33K 
 6: EX-10.80    Material Contract                                   HTML     47K 
 7: EX-10.81    Material Contract                                   HTML     33K 
 8: EX-21       Subsidiaries List                                   HTML     31K 
 9: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
10: EX-31.2     Certification -- §302 - SOA'02                      HTML     35K 
11: EX-32.1     Certification -- §906 - SOA'02                      HTML     32K 
12: EX-32.2     Certification -- §906 - SOA'02                      HTML     32K 
19: R1          Document and Entity Information                     HTML     66K 
20: R2          Consolidated Balance Sheets                         HTML    141K 
21: R3          Consolidated Balance Sheets [Parenthetical]         HTML     48K 
22: R4          Consolidated Statements of Operations and Other     HTML    125K 
                Comprehensive Income / (Loss)                                    
23: R5          Consolidated Statements of Changes in               HTML     55K 
                Stockholders' Equity                                             
24: R6          Consolidated Statements of Cash Flows               HTML    141K 
25: R7          Organization and Principal Activities               HTML     44K 
26: R8          Summary of Significant Accounting Policies          HTML    409K 
27: R9          Cash, Cash Equivalents and Restricted Cash and      HTML     83K 
                Cash Equivalents                                                 
28: R10         Time Deposits and Structured Deposits               HTML     67K 
29: R11         Other Current Assets                                HTML     76K 
30: R12         Property, Plant and Equipment, Net                  HTML     77K 
31: R13         Intangible Assets, Net                              HTML     76K 
32: R14         Long-Term Investments                               HTML    127K 
33: R15         Other Assets                                        HTML     61K 
34: R16         Short-Term Loans                                    HTML     86K 
35: R17         Income Tax Payable                                  HTML     68K 
36: R18         Commissions Payable to Sales Professionals          HTML     58K 
37: R19         Other Current Liabilities                           HTML     68K 
38: R20         Long-Term Loans                                     HTML     67K 
39: R21         Other Liabilities                                   HTML    187K 
40: R22         Preferred Stock                                     HTML     67K 
41: R23         Statutory Reserves                                  HTML     35K 
42: R24         Noncontrolling Interests                            HTML    204K 
43: R25         Income Tax                                          HTML    205K 
44: R26         Related Party Transactions                          HTML     86K 
45: R27         Commitments and Contingencies                       HTML     57K 
46: R28         Financial Risk Management and Fair Value of         HTML    246K 
                Financial Instruments                                            
47: R29         Segment Reporting                                   HTML     90K 
48: R30         Subsequent Events                                   HTML     37K 
49: R31         Summary of Significant Accounting Policies          HTML    488K 
                (Policies)                                                       
50: R32         Summary of Significant Accounting Policies          HTML    286K 
                (Tables)                                                         
51: R33         Cash, Cash Equivalents and Restricted Cash and      HTML     78K 
                Cash Equivalents (Tables)                                        
52: R34         Time Deposits and Structured Deposits (Tables)      HTML     57K 
53: R35         Other Current Assets (Tables)                       HTML     73K 
54: R36         Property, Plant and Equipment, Net (Tables)         HTML     76K 
55: R37         Intangible Assets, Net (Tables)                     HTML     77K 
56: R38         Long-Term Investments (Tables)                      HTML    126K 
57: R39         Other Assets (Tables)                               HTML     57K 
58: R40         Short-Term Loans (Tables)                           HTML     67K 
59: R41         Income Tax Payable (Tables)                         HTML     67K 
60: R42         Commissions Payable to Sales Professionals          HTML     56K 
                (Tables)                                                         
61: R43         Other Current Liabilities (Tables)                  HTML     66K 
62: R44         Long-Term Loans (Tables)                            HTML     66K 
63: R45         Other Liabilities (Tables)                          HTML    171K 
64: R46         Noncontrolling Interests (Tables)                   HTML    202K 
65: R47         Income Tax (Tables)                                 HTML    194K 
66: R48         Related Party Transactions (Tables)                 HTML     70K 
67: R49         Commitments and Contingencies (Tables)              HTML     52K 
68: R50         Financial Risk Management and Fair Value of         HTML    234K 
                Financial Instruments (Tables)                                   
69: R51         Segment Reporting (Tables)                          HTML     89K 
70: R52         Organization and Principal Activities (Details      HTML     42K 
                Textual)                                                         
71: R53         Summary of Significant Accounting Policies          HTML     40K 
                (Details)                                                        
72: R54         Summary of Significant Accounting Policies          HTML     58K 
                (Details 1)                                                      
73: R55         Summary of Significant Accounting Policies          HTML     43K 
                (Details 2)                                                      
74: R56         Summary of Significant Accounting Policies          HTML     45K 
                (Details 3)                                                      
75: R57         Summary of Significant Accounting Policies          HTML     50K 
                (Details 4)                                                      
76: R58         Summary of Significant Accounting Policies          HTML     85K 
                (Details Textual)                                                
77: R59         Cash, Cash Equivalents and Restricted Cash and      HTML     59K 
                Cash Equivalents (Details)                                       
78: R60         Cash, Cash Equivalents and Restricted Cash and      HTML     48K 
                Cash Equivalents (Details Textual)                               
79: R61         Time Deposits and Structured Deposits (Details)     HTML     39K 
80: R62         Time Deposits and Structured Deposits (Details      HTML     57K 
                Textual)                                                         
81: R63         Other Current Assets (Details)                      HTML     56K 
82: R64         Other Current Assets (Details Textual)              HTML     51K 
83: R65         Property, Plant and Equipment, Net (Details)        HTML     51K 
84: R66         Property, Plant and Equipment, Net (Details         HTML     33K 
                Textual)                                                         
85: R67         Intangible Assets, Net (Details)                    HTML     38K 
86: R68         Intangible Assets, Net (Details 1)                  HTML     46K 
87: R69         Intangible Assets, Net (Details Textual)            HTML     34K 
88: R70         Long-Term Investments (Details)                     HTML     39K 
89: R71         Long-Term Investments (Details 1)                   HTML     37K 
90: R72         Long-Term Investments (Details 2)                   HTML     40K 
91: R73         Long-Term Investments (Details Textual)             HTML     38K 
92: R74         Other Assets (Details)                              HTML     49K 
93: R75         Other Assets (Details Textual)                      HTML     42K 
94: R76         Short-Term Loans (Details)                          HTML     48K 
95: R77         Short-Term Loans (Details Textual)                  HTML    203K 
96: R78         Income Tax Payable (Details)                        HTML     48K 
97: R79         Commissions Payable to Sales Professionals          HTML     37K 
                (Details)                                                        
98: R80         Commissions Payable to Sales Professionals          HTML     34K 
                (Details Textual)                                                
99: R81         Other Current Liabilities (Details)                 HTML     49K 
100: R82         Long-Term Loans (Details)                           HTML     40K  
101: R83         Long-Term Loans (Details Textual)                   HTML     51K  
102: R84         Other Liabilities (Details)                         HTML     44K  
103: R85         Other Liabilities (Details 1)                       HTML     91K  
104: R86         Other Liabilities (Details Textual)                 HTML    114K  
105: R87         Preferred Stock (Details Textual)                   HTML     47K  
106: R88         Statutory Reserves (Details Textual)                HTML     40K  
107: R89         Noncontrolling Interests (Details)                  HTML     63K  
108: R90         Income Tax (Details)                                HTML     46K  
109: R91         Income Tax (Details 1)                              HTML     50K  
110: R92         Income Tax (Details 2)                              HTML     59K  
111: R93         Income Tax (Details Textual)                        HTML     78K  
112: R94         Related Party Transactions (Details)                HTML     49K  
113: R95         Related Party Transactions (Details Textual)        HTML     78K  
114: R96         Commitments and Contingencies (Details)             HTML     46K  
115: R97         Commitments and Contingencies (Details Textual)     HTML     33K  
116: R98         Financial Risk Management and Fair Value of         HTML     74K  
                Financial Instruments (Details)                                  
117: R99         Financial Risk Management and Fair Value of         HTML     46K  
                Financial Instruments (Details 1)                                
118: R100        Financial Risk Management and Fair Value of         HTML     33K  
                Financial Instruments (Details Textual)                          
119: R101        Segment Reporting (Details)                         HTML     58K  
120: R102        Segment Reporting (Details 1)                       HTML     53K  
121: R103        Subsequent Events (Details Textual)                 HTML     44K  
123: XML         IDEA XML File -- Filing Summary                      XML    225K  
122: EXCEL       IDEA Workbook of Financial Reports                  XLSX    133K  
13: EX-101.INS  XBRL Instance -- cuii-20181231                       XML   5.16M 
15: EX-101.CAL  XBRL Calculations -- cuii-20181231_cal               XML    204K 
16: EX-101.DEF  XBRL Definitions -- cuii-20181231_def                XML   1.11M 
17: EX-101.LAB  XBRL Labels -- cuii-20181231_lab                     XML   1.29M 
18: EX-101.PRE  XBRL Presentations -- cuii-20181231_pre              XML   1.30M 
14: EX-101.SCH  XBRL Schema -- cuii-20181231                         XSD    279K 
124: ZIP         XBRL Zipped Folder -- 0001144204-19-017322-xbrl      Zip    337K

‘R32’ — Summary of Significant Accounting Policies (Tables)

This is an IDEA Financial Report. [ Alternative Formats ]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Intercompany Foreign Currency Balances [Table Text Block]

The exchange rates used for financial statements are as follows:

	Average Rate for the years ended December 31,
	2018		2017
Taiwan dollar (NTD)	NTD	30.13172	NTD	30.39845
China yuan (RMB)	RMB	6.61464	RMB	6.75701
Hong Kong dollar (HKD)	HKD	7.83704	HKD	7.79223
United States dollar ($)	$	1.00000	$	1.00000

	Exchange Rate at
	December 31, 2018		December 31, 2017
Taiwan dollar (NTD)	NTD	30.56492	NTD	29.65568
China yuan (RMB)	RMB	6.87644	RMB	6.50638
Hong Kong dollar (HKD)	HKD	7.83125	HKD	7.81493
United States dollar ($)	$	1.00000	$	1.00000

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The calculation for basic and diluted EPS is as follows:

	As of December 31, 2018
	2018		2017

Net income attributable to common shareholders of the Company:	$	2,371,405	$	7,154,638
Effect of dilution		-		12,000
Net income attributable to common shareholders of the Company after dilution	$	2,371,405	$	7,166,638

Basic weighted-average number of common shares outstanding		29,452,669		29,452,669
Effect of convertible bond		-		1,056,883
Diluted weighted-average number of common shares outstanding		29,452,669		30,509,552

Earnings per share attributable to common shareholders of the Company:
Basic	$	0.078	$	0.243
Diluted	$	0.078	$	0.235

Schedule Of Revenue From Insurance Services [Table Text Block]

For the fiscal years ended December 31, 2018 and 2017, the Company realized revenues with the customers individually more than 10% of the total revenue of the Company were:

	Years ended December 31,
	2018						2017
	Amount			% of Total Revenue			Amount			% of Total Revenue
Farglory Life Insurance Co., Ltd.	$	18,432,050			23	%	$	18,617,293			26	%
Taiwan Life Insurance Co., Ltd. (**)		11,024,333			14	%		9,309,759			13	%
TransGlobe Life Insurance Inc.		10,280,105			13	%		8,168,837			11	%
Fubon Life Insurance Co., Ltd.		(*	)		(*	)		(*	)		(*	)

(*) Revenue for the year ended had not exceeded 10% or more of the consolidated revenue.

(**) Taiwan Life Insurance Co., Ltd. was formerly known as CTBC Life Insurance Co., Ltd.

Schedule Of Accounts Receivable From Related Parties [Table Text Block]

As of December 31, 2018 and 2017, the Company’s accounts receivable

due from these customers were:

	As of December 31,
	2018						2017
	Amount			% of Total Accounts Receivable			Amount			% of Total Accounts Receivable
Farglory Life Insurance Co., Ltd.	$	3,139,404			24	%	$	3,430,661			26	%
Taiwan Life Insurance Co., Ltd. (**)		2,578,590			20	%		2,192,668			17	%
TransGlobe Life Insurance Inc.		2,381,181			18	%		1,811,401			14	%
Fubon Life Insurance Co., Ltd.		(*	)		(*	)		(*	)		(*	)

(*) Revenue for the year ended had not exceeded 10% or more of the consolidated revenue.

(**) Taiwan Life Insurance Co., Ltd. was formerly known as CTBC Life Insurance Co., Ltd.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

	Twelve Months Ended December 31, 2017
	Previously Reported*			Adjustments		As Revised
Operating activities	$	5,655,491		$	251,432	$	5,906,923
Investing activities		(14,435,727	)		-		(14,435,727	)
Financing activities		2,506,795			-		2,506,795
Foreign currency translation		1,577,935			-		1,577,935
Net change in cash, cash equivalents, and restricted cash and equivalents	$	(4,695,506	)	$	251,432	$	(4,444,074	)

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-K’ Filing	Date	Other Filings

Filed on:	4/1/19
For Period end:	12/31/18	10-K/A, NT 10-K
	12/31/17	10-K, 10-K/A
		List all Filings

3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/30/23  China United Ins Service, Inc.    10-K       12/31/22  122:13M                                    Toppan Merrill/FA2
 4/08/22  China United Ins Service, Inc.    10-K       12/31/21  126:14M                                    Toppan Merrill/FA2
 3/25/21  China United Ins Service, Inc.    10-K       12/31/20  119:14M                                    Toppan Merrill/FA

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Filing Submission 0001144204-19-017322 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

China United Insurance Service, Inc. – ‘10-K’ for 12/31/18 – ‘R32’

On: Monday, 4/1/19, at 1:52pm ET · For: 12/31/18 · Accession #: 1144204-19-17322 · File #: 0-54884

Previous ‘10-K’: ‘10-K/A’ on 1/24/19 for 12/31/17 · Next: ‘10-K/A’ on 4/30/19 for 12/31/18 · Latest: ‘10-K’ on 3/30/23 for 12/31/22 · 3 References:

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

‘R32’ — Summary of Significant Accounting Policies (Tables)

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

3 Subsequent Filings that Reference this Filing

China United Insurance Service, Inc. – ‘10-K’ for 12/31/18 – ‘R32’

On: Monday, 4/1/19, at 1:52pm ET · For: 12/31/18 · Accession #: 1144204-19-17322 · File #: 0-54884

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘R32’ — Summary of Significant Accounting Policies (Tables)

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

3 Subsequent Filings that Reference this Filing

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents