CHINA AUTOMOTIVE SYSTEMS INC CAAS Cash Flow

China automotive systems inc (CAAS)

CashFlow / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income
845	4,077	2,233	1,224	-5,327	378	996	4,032	-38,686	5,228	8,881	5,938	6,058	5,859	5,515	5,545	7,497	4,379	7,629	8,392	9,671	8,026	13,586	8,311	8,905	10,428	6,206	7,526	6,550	4,400	14,251	285	8,567	11,492	5,763	22,080
Adjustments to reconcile net income from operations to net cash provided by operating activities:
Depreciation and Amortization
4,791	3,773	5,290	3,987	3,226	4,753	4,495	4,342	4,425	3,124	3,620	4,189	3,194	3,381	3,546	3,805	3,764	3,612	3,932	3,965	3,931	3,841	4,038	3,713	3,623	3,746	3,750	3,468	3,242	3,358	3,803	3,507	3,357	3,570	3,297	3,276
Increase (decrease) in allowance for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17	0	94
Inventory write downs
-	918	1,120	1,112	-	1,515	1,913	1,543	673	2,335	1,288	813	857	451	488	1,414	1,032	215	551	756	1,377	609	842	1,080	1,833	203	53	224	375	501	-117	117	-23	0	0	0
Deferred income taxes
617	523	-1,040	-84	-2,368	97	-264	33	2,789	383	1,034	-63	-1,486	-115	-374	347	525	-331	-704	-145	-777	-494	-661	248	140	-1,468	-881	738	-289	-792	-595	119	-664	14	-645	380
(Reversal)/accrual of provision for doubtful accounts
-251	19	318	355	-634	-11	33	-275	147	-26	-1,027	19	-105	77	-5	54	20	92	30	2	81	-56	-119	-2	-199	33	11	95	-188	51	2	-69	-	-	-	-
Equity in net loss/(earnings) of affiliates
1,628	-226	-207	211	1,661	-1,049	-82	585	2,137	491	-62	51	-5	304	195	62	75	72	98	66	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of affiliated companies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	63	-	-	-	58	32	27	32	80	29	42	48	38
Gain on convertible notes conversion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-0	1,564
Loss on change in fair value of derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,412	-3,861	1,597	7,789	-146	11,731
Gain on disposal of fixed assets
-60	-41	733	0	451	3	3	-12	-20	2	2,219	-17	17	-8	11	3	2	-1	-11	10	-25	-6	7,471	35	-6	4,123	0	165	893	23	-65	-2	11	-80	-35	-0
Amortization of debt issue cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	1	19	38	38	108	27	0	-	-	-	-
Changes in operating assets and liabilities
(Increase)/decrease in:
Pledged cash
-	-	-	-	-	-	-	-	-	-	-	2,618	10,510	-3,183	1,561	-8,089	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pledged cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,843	1,758	4,742	-5,472	-1,223	8,114	2,893	-3,985	-321	1,770	3,362	1,634	122	1,278	50	-573	-936
Accounts and notes receivable
-4,793	-15,274	-2,946	1,977	2,232	-23,114	-6,085	-559	1,899	-26,237	-4,090	-2,480	37,780	-32,502	27,626	23,347	7,966	-17,958	-18,775	16,932	-461	-5,966	2,773	22,366	18,017	4,069	11,353	21,381	14,810	5,965	386	-1,610	12,915	-12,851	-12,515	18,652
Advance payments and other
-	-	-	-	-	-	-	-	-998	2,768	-1,189	-52	-467	1,361	-1,708	3,145	1,435	1,292	-881	1,330	-944	710	-1,877	839	457	-684	-1,310	1,529	1,853	638	-306	-902	-1,071	-1,134	144	483
Inventories
-8,757	-761	4,293	1,233	-6,606	2,158	9,470	6,592	5,715	8,545	-3,548	1,444	-2,802	12,288	-286	6,242	903	2,119	-724	5,328	-7,293	9,988	1,469	5,992	-360	4,865	2,372	1,839	-4,535	1,763	-4,203	6,746	-155	4,793	-2,422	10,243
Other current assets
-	-100	-2,258	-2,387	-	230	1,246	128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase/(decrease) in:
Accounts and notes payable
6,673	2,238	-9,750	-21,299	6,253	-13,170	-3,624	-11,950	5,556	-91	-1,340	-1,592	20,465	-10,895	13,390	12,495	14,443	-14,070	-16,827	13,876	9,577	-5,585	3,354	4,594	20,401	-3,490	-296	9,985	8,207	4,055	-5,471	954	6,510	-688	-2,189	11,381
Customer deposits
-	-	-	-	-	-	-	-	253	165	-130	123	-33	295	-882	-26	156	280	-59	-602	-1,106	1,256	-124	181	-229	1,122	-138	32	-389	130	774	-567	157	-1,007	807	451
Accrued payroll and related costs
-	-	-	-	-	-	-	-	1,000	184	429	-431	599	392	324	-172	201	527	-1,295	-300	949	367	-478	-312	889	441	-116	189	694	134	85	-399	269	442	-194	-496
Accrued expenses and other payables
3,034	-1,319	-847	-2,208	5,380	1,268	6,276	-4,031	6,776	-3,188	-1,561	-1,467	9,239	853	365	91	-1,848	-159	1,504	-236	1,460	406	247	-56	1,876	780	1,779	900	1,280	-14	-8,384	1,696	866	365	-1,406	2,530
Accrued pension costs
-	-	-	-	-	-	-	-	-774	750	-60	-247	-71	-567	142	265	222	-702	102	-242	-491	958	300	202	-418	609	133	-89	-139	122	-36	229	107	132	-46	-166
Taxes payable
-	-	-	-	-	-	-	-	33,970	-3,737	-2,751	-3,318	4,712	-1,858	1,638	-1,362	1,858	-434	-3,524	287	2,974	250	-731	1,738	-1,262	3,322	-448	382	-124	2,659	-812	2,447	-2,310	-833	-942	-1,022
Other current liabilities
-	3,218	-1,779	443	-	-2,224	-3,098	4,988	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advances payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,567	0	-16	-16	33	1,576	0	634	0	346	0	0
Net cash provided by operating activities
26,213	29,811	-7,516	-18,214	3,519	14,400	2,109	-7,502	7,102	19,710	19,725	2,362	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,484	-1,636	8,518	2,334	15,241	19,945	-3,457
Cash flows from investing activities:
Purchase of short-term investments
0	2,616	1,468	15,563	2,949	1,472	17,088	1,414	7,128	16,948	8,069	0	29	13,384	6,983	7,814	131	876	5,499	5,889	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of short-term investments
4,228	9,953	2,186	14,901	7,382	5,106	2,579	19,108	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by/(used in) operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,015	-2,362	15,222	9,557	9,569	4,926	37,636	369	16,063	-8,371	12,245	464	1,536	-1,369	-	-	-	-	-	-	-	-
Decrease in demand loans and employee housing loans included in other receivables
-	-	-	249	-	-	-	-647	-39	-22	-117	-20	-6	-944	-1,344	-94	-545	1,812	-31	184	-304	983	-682	46	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-370	90	122	-	-	-	-	-	-	-	-
Decrease in other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-600	-61	-751	1,031	344
Cash received from property, plant and equipment sales
397	464	-134	834	759	64	173	26	-120	17	2,308	26	773	-208	204	515	156	3	11	559	54	217	6,625	152	2	4,725	1,152	405	3,318	130	391	101	441	25	81	27
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 )
10,836	13,225	1,558	8,777	1,469	6,996	9,107	8,192	7,909	9,009	6,933	3,245	12,424	8,707	8,629	9,825	17,627	10,372	7,982	5,723	6,721	3,123	4,693	3,501	5,643	3,500	2,722	2,843	2,022	8,102	6,888	1,992	4,052	1,717	2,944	6,143
Cash paid to acquire intangible assets
70	48	193	1,194	189	0	0	0	-	-	-	-	101	0	57	3	31	122	818	7	1,124	247	2	3	54	49	0	60	13	58	0	4	203	104	17	0
Loan to a related party
-	-	-	-	-	-	-	-	0	0	0	29,044	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash received from repayment of the loan to a related party
0	0	0	0	0	0	0	20,430	10,591	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common shares for the conversion of convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,111
Advance payments for acquiring property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,043	-1,341	10,687
Dividends payable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,525	979	1,545
Dividends payable to non-controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	318	-3,246	-4,064	8,093	34	-52	-81	4	163	-545	0	-100	807	-	-	-	-
Purchase of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,310	2,880	13,002	14,295	16,821	15,376	0	-	-	-	-	-	-	-	-
Proceeds from maturities of short-term investments
-	-	-	-	-	-	-	-	-	21,826	9,490	2,433	-	11,409	1,274	553	95	10,366	7,005	7,667	2,713	25,518	338	12,259	11,330	0	0	0	-	-	-	-	-	-	-	-
Investment under cost method
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-11	11	-	-	-	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,907	-16,480	-16,993	-2,813	-8,888	-3,577	-5,818	-8,928	-2,917	-4,130	-8,193	-15,209	-17,036	-2,620	-	-	-	-	-	-	-	-
Net cash (used in)/ provided by investing activities
-11,049	-6,487	268	-10,048	4,740	-4,035	-28,857	30,605	3,139	-10,991	-9,653	-29,810	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,831	-7,133	-2,495	-3,875	-2,547	-1,848	-5,771
Cash flows from financing activities:
Proceeds from bank loans
-	-	-	15,275	-	-	-	19,672	2,602	10,547	31,334	27,754	2,162	610	5,041	6,500	0	5,000	4,171	2,249	4,086	9,062	1,628	5,146	8,429	1,477	6,010	8,101	7,210	2,442	32,371	1,589	-	-	-	-
Proceeds from government and bank loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,655	0	0
Repayments of bank and government loans
13,090	33,576	7,029	11,881	23,190	33,361	4,627	31,037	3,883	5,143	33,883	245	-172	2,007	2,873	2,265	3,137	3,637	164	4,884	5,911	6,339	0	3,251	13,601	6,689	6,474	1,595	4,292	7,097	0	0	-	-	-	-
Repayments of the borrowing for sale and leaseback transaction
-	-	-	1,063	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to non-controlling interest holders of non-wholly owned subsidiaries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	307	0	814	3,268	4,063	1,985	0	-	-	-	-	549	0	1,591	796	1,131	1,692	0	0
Dividends paid to the holders of the Companys common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	252	0	4,291	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common shares
-	101	0	342	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease (increase) in amounts due to shareholders/directors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	17	52	5	0	0	-40	-13	-8	-1	1	-8	-7	31	-44
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,714	4,235	-3,137	1,056	4,007	-3,701	-5,093	-5,631	-340	1,947	-5,219	-6,188	-869	6,466	-	-	-	-	-	-	-	-
Net cash (used in)/provided by financing activities
-12,550	-6,961	6,784	1,989	-13,574	29,053	6,006	-11,365	-1,904	5,404	-2,549	27,509	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,663	6,978	794	-2,208	6,956	-3,831	-44
Cash and cash equivalents affected by foreign currency
1,471	-3,112	-2,152	1,980	-620	-2,999	-5,199	3,595	1,299	1,393	1,316	150	-1,359	-248	-1,327	330	-1,480	-2,625	292	-244	211	2	-4	-470	444	365	1,287	226	627	-192	-370	75	642	993	523	484
Net (decrease)/increase in cash, cash equivalents and pledged cash
-	-	-	-24,293	-	-	-	15,333	9,636	15,516	8,839	211	-7,970	1,198	-17,535	-14,277	-6,388	5,175	4,980	-2,596	26,936	-14,188	12,802	-11,024	-723	-20,568	-15,082	2,703	15,159	-5,202	-2,161	6,892	-3,107	20,643	14,788	-8,788
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest
-	-	-	-	-	-	-	-	81	219	181	173	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	64	116	83	916	267	294	321	290	347	256	323	233	365	374	439	857	8,789	789	284	785	245	658
Cash paid for income taxes
-	-	-	-	-	-	-	-	300	171	3,847	325	442	143	534	719	518	2,067	5,151	336	2,418	350	1,905	1,204	1,826	2,188	766	1,263	1,959	140	3,118	552	1,082	2,106	2,221	2,862
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Property, plant and equipment recorded during the period which previously were advance payments
-	-	-	-	-	-	-	-	-	-	-	-	-	5,191	2,844	4,736	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing activities:
Property, plant and equipment recorded during the year which previously were advance payments
-	-	-	-	-	-	-	-	7,548	2,021	3,950	6,360	-	-	-	-	-331	1,724	4,529	2,203	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance payments for acquiring property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,811	1,148	-182	5,337	2,809	-427	-1,934	5,138	-827	-3,687	3,717	5,960	-	-	-	-
Government subsidies recorded as a reduction of property, plant and equipment cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable for acquiring property, plant and equipment
-	-	-	-	-	-	-	-	290	181	99	610	505	-1	403	442	279	54	-604	842	1,569	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-