CHINA AUTOMOTIVE SYSTEMS INC CAAS Cash Flow

China automotive systems inc (CAAS)

CashFlow / TTM

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
8,379	2,207	-1,492	-2,729	79	-33,280	-28,430	-20,545	-18,639	26,105	26,736	23,370	22,977	24,416	22,936	25,050	27,897	30,071	33,718	39,675	39,594	38,828	41,230	33,850	33,065	30,710	24,682	32,727	25,486	27,503	34,595	26,107	47,903	0	0	0
Adjustments to reconcile net income from operations to net cash provided by operating activities:
Depreciation and Amortization
17,841	16,276	17,256	16,461	16,816	18,015	16,386	15,511	15,358	14,127	14,384	14,310	13,926	14,496	14,727	15,113	15,273	15,440	15,669	15,775	15,523	15,215	15,120	14,832	14,587	14,206	13,818	13,871	13,910	14,025	14,237	13,731	13,501	0	0	0
Increase (decrease) in allowance for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Inventory write downs
-	0	0	5,808	-	5,644	6,464	5,839	5,109	5,293	3,409	2,609	3,210	3,385	3,149	3,212	2,554	2,899	3,293	3,584	3,908	4,364	3,958	3,169	2,313	855	1,153	983	876	478	-23	94	-23	0	0	0
Deferred income taxes
16	-2,969	-3,395	-2,619	-2,502	2,655	2,941	4,239	4,143	-132	-630	-2,038	-1,628	383	167	-163	-655	-1,957	-2,120	-2,077	-1,684	-767	-1,741	-1,961	-1,471	-1,900	-1,224	-938	-1,557	-1,932	-1,126	-1,176	-915	0	0	0
(Reversal)/accrual of provision for doubtful accounts
441	58	28	-257	-887	-106	-121	-1,181	-887	-1,139	-1,036	-14	21	146	161	196	144	205	57	-92	-96	-376	-287	-157	-60	-49	-31	-40	-204	0	0	0	-	-	-	-
Equity in net loss/(earnings) of affiliates
1,406	1,439	616	741	1,115	1,591	3,131	3,151	2,617	475	288	545	556	636	404	307	311	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of affiliated companies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	149	171	168	183	199	158	0	0	0
Gain on convertible notes conversion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,564	0	0	0
Loss on change in fair value of derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-449	1,148	8,937	5,378	20,971	0	0	0
Gain on disposal of fixed assets
632	1,143	1,187	457	445	-26	-27	2,189	2,184	2,221	2,211	3	23	8	15	-7	0	-27	-32	7,450	7,475	7,494	11,623	4,152	4,282	5,181	1,081	1,016	849	-33	-136	-106	-105	0	0	0
Amortization of debt issue cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	57	96	203	211	173	0	0	0	-	-	-	-
Changes in operating assets and liabilities
(Increase)/decrease in:
Pledged cash
-	-	-	-	-	-	-	-	-	-	-	11,506	799	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pledged cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,815	-195	6,161	4,312	5,799	6,701	357	826	6,445	6,888	6,396	3,084	876	-182	0	0	0
Accounts and notes receivable
-21,036	-14,011	-21,851	-24,990	-27,526	-27,859	-30,982	-28,987	-30,908	4,973	-1,292	30,424	56,251	26,437	40,981	-5,420	-11,835	-20,262	-8,270	13,278	18,712	37,190	47,225	55,805	54,820	51,613	53,509	42,542	19,551	17,656	-1,160	-14,061	6,201	0	0	0
Advance payments and other
-	-	-	-	-	-	-	-	529	1,060	-347	-866	2,331	4,233	4,164	4,991	3,176	797	215	-781	-1,272	129	-1,265	-698	-8	1,388	2,710	3,714	1,283	-1,641	-3,413	-2,962	-1,577	0	0	0
Inventories
-3,992	-1,841	1,078	6,255	11,614	23,935	30,322	17,304	12,156	3,639	7,382	10,644	15,442	19,147	8,978	8,540	7,626	-570	7,299	9,492	10,156	17,089	11,966	12,869	8,716	4,541	1,439	-5,136	-229	4,151	7,181	8,961	12,459	0	0	0
Other current assets
-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase/(decrease) in:
Accounts and notes payable
-22,138	-22,558	-37,966	-31,840	-22,491	-23,188	-10,109	-7,825	2,533	17,442	6,638	21,368	35,455	29,433	26,258	-3,959	-2,578	-7,444	1,041	21,222	11,940	22,764	24,859	21,209	26,600	14,406	21,951	16,776	7,745	6,048	1,305	4,586	15,014	0	0	0
Customer deposits
-	-	-	-	-	-	-	-	411	125	255	-497	-646	-457	-472	351	-225	-1,487	-511	-576	207	1,084	950	936	787	627	-365	547	-52	494	-643	-609	409	0	0	0
Accrued payroll and related costs
-	-	-	-	-	-	-	-	1,182	781	989	884	1,143	745	880	-739	-867	-119	-279	538	526	466	540	902	1,403	1,208	901	1,102	514	89	397	117	20	0	0	0
Accrued expenses and other payables
-1,340	1,006	3,593	10,716	8,893	10,289	5,833	-2,004	560	3,023	7,064	8,990	10,548	-539	-1,551	-412	-739	2,569	3,134	1,877	2,057	2,473	2,847	4,379	5,335	4,739	3,945	-6,218	-5,422	-5,836	-5,457	1,520	2,355	0	0	0
Accrued pension costs
-	-	-	-	-	-	-	-	-331	372	-945	-743	-231	62	-73	-113	-620	-1,333	327	525	969	1,042	693	526	235	514	27	-142	176	422	432	421	26	0	0	0
Taxes payable
-	-	-	-	-	-	-	-	24,164	-5,094	-3,215	1,174	3,130	276	1,700	-3,462	-1,813	-697	-13	2,780	4,231	-5	3,067	3,350	1,994	3,132	2,469	2,105	4,170	1,984	-1,508	-1,638	-5,108	0	0	0
Other current liabilities
-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advances payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,535	1	1,577	1,593	2,243	2,210	980	980	346	0	0	0
Net cash provided by operating activities
30,294	7,600	-7,811	1,814	12,526	16,109	21,419	39,035	48,899	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,700	24,457	46,038	34,063	0	0	0
Cash flows from investing activities:
Purchase of short-term investments
19,647	22,596	21,452	37,072	22,923	27,102	42,578	33,559	32,145	25,046	21,482	20,396	28,210	28,312	15,804	14,320	12,395	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from maturities of short-term investments
31,268	34,422	29,575	29,968	34,175	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by/(used in) operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,402	31,986	39,274	61,688	52,500	58,994	45,697	20,306	20,401	5,874	12,876	0	0	0	-	-	-	-	-	-	-	-
Decrease in demand loans and employee housing loans included in other receivables
-	-	-	559	-	-	-	-825	-198	-165	-1,087	-2,314	-2,388	-2,927	-171	1,142	1,420	1,661	832	181	43	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Decrease in other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-380	564	0	0	0
Cash received from property, plant and equipment sales
1,561	1,923	1,523	1,830	1,022	143	96	2,231	2,231	3,124	2,899	795	1,284	667	878	685	729	627	841	7,455	7,048	6,996	11,504	6,031	6,284	9,600	5,005	4,244	3,940	1,063	958	648	575	0	0	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	25,029	18,800	26,349	25,764	32,204	34,217	32,043	27,096	31,611	31,309	33,005	39,585	44,788	46,453	45,806	41,704	30,798	23,549	20,260	18,038	16,960	17,337	15,366	14,708	11,087	15,689	19,855	19,004	21,034	14,649	10,705	14,857	0	0	0
Cash paid to acquire intangible assets
1,505	1,624	1,576	1,383	189	0	0	0	-	-	-	-	161	91	213	974	978	2,071	2,196	1,380	1,376	306	108	106	163	122	131	131	75	265	311	328	324	0	0	0
Loan to a related party
-	-	-	-	-	-	-	-	29,044	29,044	29,044	29,044	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash received from repayment of the loan to a related party
0	0	0	0	20,430	31,021	31,021	31,021	10,591	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common shares for the conversion of convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,112	0	0	0
Advance payments for acquiring property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Dividends payable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Dividends payable to non-controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,928	-6,992	1,101	817	4,011	7,994	-95	34	-459	-378	-482	162	0	0	0	-	-	-	-
Purchase of short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	60,487	46,998	59,494	46,492	0	0	0	-	-	-	-	-	-	-	-
Proceeds from maturities of short-term investments
-	-	-	-	-	-	-	-	-	0	0	0	-	13,331	12,288	18,019	25,133	27,751	42,903	36,236	40,828	49,445	23,927	23,589	11,330	0	0	0	-	-	-	-	-	-	-	-
Investment under cost method
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-50,193	-45,174	-32,271	-21,096	-27,211	-21,240	-21,793	-24,168	-30,449	-44,568	-43,058	0	0	0	-	-	-	-	-	-	-	-
Net cash (used in)/ provided by investing activities
-27,316	-11,527	-9,075	-38,200	2,453	852	-6,104	13,100	-47,315	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18,334	-16,050	-10,765	-14,042	0	0	0
Cash flows from financing activities:
Proceeds from bank loans
-	-	-	74,520	-	-	-	64,155	72,237	71,797	61,860	35,567	14,313	12,151	16,541	15,671	11,420	15,506	19,568	17,025	19,922	24,265	16,680	21,062	24,017	22,798	23,763	50,124	43,612	0	0	0	-	-	-	-
Proceeds from government and bank loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Repayments of bank and government loans
65,576	75,676	75,461	73,059	92,215	72,908	44,690	73,946	43,154	39,099	35,963	4,953	6,973	10,282	11,912	9,203	11,822	14,596	17,298	17,134	15,501	23,191	23,541	30,015	28,359	19,050	19,458	12,984	11,389	0	0	0	-	-	-	-
Repayments of the borrowing for sale and leaseback transaction
-	-	-	4,281	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to non-controlling interest holders of non-wholly owned subsidiaries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,121	4,389	8,145	10,130	9,316	0	0	0	-	-	-	-	2,936	3,518	5,210	3,619	2,823	0	0	0
Dividends paid to the holders of the Companys common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	252	252	4,543	4,543	4,291	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common shares
-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease (increase) in amounts due to shareholders/directors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	69	74	74	57	-35	-53	-61	-62	-21	-16	-15	17	-28	0	0	0
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,868	6,161	-1,775	-3,731	-10,418	-14,765	-9,117	-9,243	-9,800	-10,329	-5,810	0	0	0	-	-	-	-	-	-	-	-
Net cash (used in)/provided by financing activities
-10,738	-11,762	24,252	23,474	10,120	21,790	-1,859	-10,414	28,460	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	901	12,520	1,710	872	0	0	0
Cash and cash equivalents affected by foreign currency
-1,813	-3,904	-3,791	-6,838	-5,223	-3,304	1,088	7,603	4,158	1,500	-141	-2,784	-2,604	-2,725	-5,102	-3,483	-4,057	-2,366	261	-35	-261	-28	335	1,626	2,322	2,505	1,948	291	140	155	1,340	2,233	2,643	0	0	0
Net (decrease)/increase in cash, cash equivalents and pledged cash
-	-	-	-19,750	-	-	-	49,324	34,202	16,596	2,278	-24,096	-38,584	-37,002	-33,025	-10,510	1,171	34,495	15,132	22,954	14,526	-13,133	-19,513	-47,397	-33,670	-17,788	-2,422	10,499	14,688	-3,578	22,267	39,216	23,536	0	0	0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest
-	-	-	-	-	-	-	-	654	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,179	1,382	1,560	1,798	1,172	1,252	1,214	1,216	1,159	1,177	1,295	1,411	2,035	10,459	10,874	10,719	10,647	2,103	1,973	0	0	0
Cash paid for income taxes
-	-	-	-	-	-	-	-	4,643	4,785	4,757	1,444	1,838	1,914	3,838	8,455	8,072	9,972	8,255	5,009	5,877	5,285	7,123	5,984	6,043	6,176	4,128	6,480	5,769	4,892	6,858	5,961	8,272	0	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Property, plant and equipment recorded during the period which previously were advance payments
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing activities:
Property, plant and equipment recorded during the year which previously were advance payments
-	-	-	-	-	-	-	-	19,879	0	0	0	-	-	-	-	8,125	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance payments for acquiring property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,492	9,112	7,537	5,785	5,586	1,950	-1,310	4,341	5,163	0	0	0	-	-	-	-
Government subsidies recorded as a reduction of property, plant and equipment cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable for acquiring property, plant and equipment
-	-	-	-	-	-	-	-	1,180	1,395	1,213	1,517	1,349	1,123	1,178	171	571	1,861	1,807	2,411	1,569	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-