China automotive systems inc (CAAS)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income

8,379

79

-18,639

22,977

27,897

39,594

33,065

25,486

47,903

62,917

-18,651

Adjustments to reconcile net income from operations to net cash provided by operating activities:
Stock-based compensation

0

23

100

137

105

193

194

76

101

595

446

Depreciation and Amortization

17,841

16,816

15,358

13,926

15,273

15,523

14,587

13,910

13,501

9,497

8,684

Inventory write downs

-

-

-

-

-

-

-

-

-

-431

-1,031

Increase (decrease) in allowance for doubtful accounts

-

-

-

-

-

-

-

-

-

2,373

-901

Inventory write downs

-

-

5,109

3,210

2,554

3,908

2,313

876

-23

-

-

Deferred income taxes

16

-2,502

4,143

-1,628

-655

-1,684

-1,471

-1,557

-915

620

-1,676

(Reversal)/accrual of provision for doubtful accounts

441

-887

-887

21

144

-96

-60

-204

76

-

-

Equity in net loss/(earnings) of affiliates

1,406

1,115

2,617

556

311

260

-

-

-

-

-

Gain on disposal of Fujian Qiaolong

-

-

-

698

0

-

-

-

-

-

-

Gain on disposal of a subsidiary

-

-

-

-

-

-

-

2,848

-

-

-

Gain on disposition of a subsidiary

-

-

-

-

-

-

-

-

0

-

-

Equity in earnings of affiliated companies

-

-

-

-

-

-

307

171

158

-14

0

Gain on redemption of convertible notes

-

-

-

-

-

-

-

1,421

-

-

-

Gain on convertible notes conversion

-

-

-

-

-

-

-

-

1,564

0

0

Gain on redemption of convertible notes

-

-

-

-

-

-

-

-

0

-

-

Loss on change in fair value of derivative

-

-

-

-

-

-

-

-449

20,971

20,171

-43,074

Gain on disposal of fixed assets

632

445

2,184

23

0

7,475

4,282

849

-105

-690

-22

Amortization of debt issue cost

-

-

-

-

-

-

57

173

0

0

3,891

Changes in operating assets and liabilities
(Increase)/decrease in:
Pledged cash

-

-

-

799

-364

-

-

-

-

-

-

Other operating adjustments

-

-

-

-

-

-

-

-

-

0

235

Pledged cash

-

-

-

-

-

-195

6,701

6,888

-182

7,656

5,994

Accounts and notes receivable

-21,036

-27,526

-30,908

56,251

-11,835

18,712

54,820

19,551

6,201

33,055

58,735

Advance payments and other

-4,733

3,790

529

2,331

3,176

-1,272

-8

1,283

-1,577

1,721

968

Inventories

-3,992

11,614

12,156

15,442

7,626

10,156

8,716

-229

12,459

8,679

1,849

Increase/(decrease) in:
Accounts and notes payable

-22,138

-22,491

2,533

35,455

-2,578

11,940

26,600

7,745

15,014

36,821

48,178

Customer deposits

561

-346

-

-

-

-

-

-

-

-

-

Customer deposits

-

-

411

-646

-225

207

787

-52

409

-1,232

1,682

Accrued payroll and related costs

1,115

-964

1,182

1,143

-867

526

1,403

514

20

206

1,055

Accrued expenses and other payables

-1,340

8,893

560

10,548

-739

2,057

5,335

-5,422

2,355

6,295

8,375

Accrued pension costs

-96

-646

-331

-231

-620

969

235

176

26

-45

-31

Taxes payable

-1,326

2,215

24,164

3,130

-1,813

4,231

1,994

4,170

-5,108

-4,963

5,755

Long-term taxes payable

-

-

-

0

-

-

-

-

-

-

-

Advances payable

-

-

-

-75

0

3,273

2,535

2,243

346

361

-0

Net cash provided by operating activities

30,294

12,526

48,899

11,825

-

-

-

-

34,063

38,552

34,956

Cash flows from investing activities:
Purchase of short-term investments

19,647

22,923

32,145

28,210

12,395

46,419

-

-

-

-

-

Proceeds from maturities of short-term investments

31,268

34,175

35,780

20,657

-

-

-

-

-

-

-

Net cash provided by/(used in) operating activities

-

-

-

-

39,274

45,697

12,876

16,209

-

-

-

Decrease in demand loans and employee housing loans included in other receivables

-1,504

-337

-198

-2,388

1,420

43

-625

-

-

-

-

Cash received from disposal of Fujian Qiaolong

-

-

-

1,953

0

-

-

-

-

-

-

Decrease in other receivables

-

-

-

-

-

-

-

1,376

564

-1,695

207

Cash received from property, plant and equipment sales

1,561

1,022

2,231

1,284

729

7,048

6,284

3,940

575

383

280

Government subsidy received for purchase of property, plant and equipment

1,898

1,322

0

-

-

-

-

-

-

-

-

Cash paid to acquire property, plant and equipment and land use rights (including $5,238 and $9,207 paid to related parties for the years ended December 31, 2019 and 2018, respectively )

34,396

25,764

27,096

39,585

41,704

18,038

14,708

19,004

14,857

28,024

17,498

Cash paid to acquire intangible assets

1,505

189

201

161

978

1,376

163

75

324

165

324

Cash received from long-term investment

-579

0

-

-

-

-

-

-

-

-

-

Loan to a related party

-

-

29,044

0

-

-

-

-

-

-

-

Cash received from repayment of the loan to a related party

0

20,430

10,591

0

-

-

-

-

-

-

-

Investment under equity method

6,018

5,957

-

-

-

-

-

-

-

-

-

Non-controlling interests arising as a result of acquisition of Fujian Qiaolong

-

-

-

-

-

-

-

2,846

0

-

-

Accounts receivable for the sale of land use rights

-

-

-

-

-

1,890

0

1,128

-

-

-

Accounts payable for purchasing patented technology

-

-

-

-

-

817

0

-

-

-

-

Non-controlling interests arising as a result of acquisition of Fujian Qiaolong

-

-

-

-

-

2,793

0

-

-

-

-

Issuance of common stock for the acquisition of non-controlling interests in Henglong and Jiulong

-

-

-

-

-

37,314

0

-

-

-

-

Dividends payable to the Companys shareholders

-

-

-

-

-

757

0

-

-

-

-

Accounts receivable from sale of property, plant and equipment

-

-

-

-

-

-

-

-

0

9,373

6,369

Issuance of common shares for the conversion of convertible notes

-

-

-

-

-

-

-

-

10,112

0

0

Noncontrolling interests contribution of capital with property, plant and equipment

-

-

-

-

-

-

-

2,846

0

-

-

Dividends payable to non-controlling interests

-

-

-

-

-

817

34

162

808

1,530

1,761

Cash prepaid for acquisition of a subsidiary

2,560

0

-

-

-

-

-

-

-

-

-

Acquisition of Fujian Qiaolong, net of cash acquired

-

-

-

-

-

2,976

0

-

-

-

-

Purchase of long-term time deposit

-

-

-

-

-

817

-

-

-

-

-

Purchase of short-term investments

-

-

-

-

-

-

46,492

0

-

-

-

Proceeds from maturities of short-term investments

-

-

-

-

25,133

40,828

11,330

0

-

-

-

Investment under equity method

-

-

7,629

10,556

1,636

-

-

-

-

3,095

0

Investment under cost method

-

-

-

-

-

-

66

0

-

-

-

Investment under cost method

-

-

-

-

-

-

0

-

-

-

-

Proceeds from disposal of a subsidiary

-

-

-

-

-

-

-

7,471

0

-

-

Net cash used in investing activities

-

-

-

-

-32,271

-21,793

-43,058

-6,292

-

-

-

Net cash (used in)/ provided by investing activities

-27,316

2,453

-47,315

-52,230

-

-

-

-

-14,042

-32,596

-17,335

Cash flows from financing activities:
Proceeds from bank and government loans

57,101

78,917

-

-

-

-

-

-

-

-

-

Proceeds from bank loans

-

-

72,237

14,313

11,420

19,922

24,017

43,612

10,200

8,215

6,590

Repayments of bank and government loans

65,576

92,215

43,154

6,973

11,822

15,501

28,359

11,389

6,995

6,794

8,786

Proceeds from sale and leaseback transaction

0

11,758

-

-

-

-

-

-

-

-

-

Proceeds from sale and leaseback transaction

-

-

0

-

-

-

-

-

-

-

-

Payment to broker agents for repurchase of common stock

1,308

300

0

-

-

-

-

-

-

-

-

Repayments of the borrowing for sale and leaseback transaction

4,164

3,218

0

-

-

-

-

-

-

-

-

Capital contribution from noncontrolling interests

-

-

-

-

-

-

-

-

0

-

-

Dividends paid to non-controlling interest holders of non-wholly owned subsidiaries

333

524

623

464

1,121

9,316

1,433

2,936

2,823

3,614

4,176

Decrease in amounts due to shareholders/directors

0

26

0

-

-

-

-

-

-

-

-

Dividends paid to the holders of the Companys common stock

-

-

-

544

252

4,291

0

-

-

-

-

Debt issuance costs paids paid for bank loan

-

-

-

-

-

-

-

230

0

-

-

Cash received from capital contributions by non-controlling interest holder

3,542

15,728

0

-

-

-

-

166

-

-

-

Exercise of stock option

-

-

-

-

-

-

-

-

518

454

420

Redemption of convertible notes

-

-

-

-

-

-

-

23,571

0

-

-

Repurchase of common shares

-

-

-

1,907

0

-

-

1,000

0

-

-

Decrease (increase) in amounts due to shareholders/directors

-

-

-

-

-

69

-35

-21

-28

344

-337

Net cash provided by financing activities

-

-

-

-

-1,775

-9,117

-5,810

4,631

-

-

-

Redemption of convertible notes

-

-

-

-

-

-

-

-

-

0

5,000

Net cash (used in)/provided by financing activities

-10,738

10,120

28,460

4,425

-

-

-

-

872

-1,394

-11,290

Cash and cash equivalents affected by foreign currency

-1,813

-5,223

4,158

-2,604

-4,057

-261

2,322

140

2,643

1,383

36

Net (decrease)/increase in cash, cash equivalents and pledged cash

-9,573

19,876

-

-

-

-

-

-

-

-

-

Net (decrease)/increase in cash, cash equivalents and pledged cash

-

-

34,202

-38,584

1,171

14,526

-33,670

14,688

23,536

5,944

6,366

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest

3,390

3,852

654

720

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

1,560

1,214

1,295

10,874

1,973

2,044

1,475

Cash paid for income taxes

4,607

3,717

4,643

1,838

8,072

5,877

6,043

5,769

8,272

6,685

4,048

Non-cash investing activities:
Property, plant and equipment recorded during the year which previously were advance payments

13,964

13,347

19,879

22,254

8,125

-

-

-

-

-

-

Advance payments for acquiring property, plant and equipment

-

-

-

-

-

4,492

5,586

5,163

5,185

-

-

Government subsidies recorded as a reduction of property, plant and equipment cost

-

-

-

-

-

-

2,460

0

-

-

-

Accounts payable for acquiring property, plant and equipment

782

1,046

1,180

1,349

571

1,569

0

-

-

-

-

Property, plant and equipment and inventories used for investment in an associated company

492

-

-

-

-

-

-

-

-

-

-