China biologic products holdings, inc. (CBPO)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

82,235

128,793

114,105

96,112

76,861

65,971

31,383

51,992

18,823

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation

11,691

11,962

8,179

6,989

6,096

5,792

4,253

3,607

2,709

Amortization

1,216

775

854

758

1,365

3,088

3,394

3,566

3,358

Loss on disposal of property, plant and equipment

-3,228

-293

-3,024

-172

123

-828

-166

-120

-224

Allowance for doubtful accounts - accounts receivable, net

23

123

34

-24

31

1

-19

-57

-13

Allowance for doubtful accounts - prepayments and other receivables

0

65

0

5,068

65

110

-10

475

280

Impairment for other non-current assets

0

1,225

0

0

-

-

-

-

-

Impairment loss of goodwill

-

-

-

-

-

-

18,160

0

0

Loss on abandonment and write-off of long-lived assets

-

-

-

-

-

-

6,603

0

0

Write-down of obsolete inventories

0

256

76

324

0

0

270

451

519

Deferred income tax benefit

-3,252

-3,006

-170

3,483

112

1,127

-2,595

-1,101

-1,552

Share-based compensation

33,903

24,405

12,114

5,396

5,050

4,544

4,896

2,341

62

Change in fair value of derivative liabilities

-

-

-

-

-

1,769

11,974

-3,233

-28,915

Amortization of deferred note issuance cost

-

-

-

-

-

-

91

258

247

Amortization of discount on convertible notes

-

-

-

-

-

-

3,503

1,590

100

Equity in (income) /loss of an equity method investee

3,509

2,519

-1,311

8,646

2,170

2,665

1,858

1,070

566

Loss from disposal of a subsidiary

0

-75

0

0

-

-

-

-

-

Excess tax benefits from share-based compensation arrangements

0

2,613

1,518

1,611

0

0

-

-

-

Change in operating assets and liabilities:
Accounts receivable

39,918

10,971

7,146

2,191

5,667

-5,689

6,126

7,820

1,707

Accounts receivable -a related party

-

-

-

-

-

-

-

-

-197

Other receivables

-

-

-

-

-

-

-

-

1,744

Inventories

42,078

40,077

32,095

13,418

10,432

3,750

17,079

16,026

12,456

Prepayments and other current assets

1,777

-1,946

-879

9,236

624

268

711

-91

248

Accounts payable

977

2,966

5,348

405

1,621

-2,184

431

505

-58

Accrued interest - noncontrolling interest shareholders

-

-

-

-

-

-

-

-2,086

2,068

Advance from customers

-

-

-

-

-

-

1,140

-429

274

Due to related parties

-

-

-

-

-

734

0

0

-

Advance from customers - a related party

-

-

-

-

-

-

-

-

0

Income tax payable

6,047

6,022

-1,926

5,683

-446

-904

-1,512

-1,046

2,943

Other payables and accrued expenses

16,821

4,221

6,734

4,472

2,562

-5,244

6,061

190

7,058

Deferred income

-493

-686

-416

-224

0

-

-

-

-

Non-current income tax payable

37,067

0

0

-

-

-

-

-

-

Other taxes payable

-

-

-

-

-

-

-

-

865

Net cash provided by operating activities

102,183

123,258

109,392

93,514

74,302

71,097

38,469

38,787

50,300

CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for time deposits

22,669

0

0

-

-

-

-

-

-

Acquisition of a subsidiary, net of cash acquired

-

-

-

-

-

-

-

4,063

-1,573

Acquisition of equity method investment

-

-

-

-

-

-

-

-

3,225

Payment for property, plant and equipment

37,504

49,371

38,790

17,194

20,492

13,886

7,968

10,313

3,522

Payment for intangible assets and land use rights

786

1,635

13,500

4,677

1,327

14,059

424

1,474

2,106

Refund of payments and deposits related to land use right

0

10,297

0

1,635

2,100

0

0

-

-

Dividends received

-

-

-

-

565

1,109

1,209

0

384

Purchase of time deposit

-

-

-

-

6,608

0

0

-

-

Proceeds upon maturity of time deposit

-

-

-

6,608

0

0

-

-

-

Proceeds from disposal of property, plant and equipment and land use rights

64

393

827

220

194

83

56

0

36

Loans lent to a third party

0

12,332

40,744

0

0

-

-

-

-

Proceeds from disposal of a subsidiary

0

128

0

0

-

-

-

-

-

Receipt of government grants related to property and equipment

0

0

2,452

0

0

-

-

-

-

Net cash used in investing activities

-60,895

-52,520

-89,755

-13,407

-25,567

-26,753

-7,127

-15,851

-6,860

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock option exercised

867

3,558

7,745

3,860

5,394

727

300

97

350

Proceeds from short-term bank loans

23,009

0

15,770

44,500

9,693

11,076

18,595

5,917

13,536

Payment for deposit as security for long-term bank loans

-

-

-

-

-

0

0

-

-

Proceeds from warrants exercised

-

-

-

-

-

4,500

0

1,232

3,649

Payment for share repurchase

-

-

-

70,000

29,594

0

0

-

-

Repayment of former shareholders loan in a subsidiary

-

-

-

-

-

-

-

-

2,841

Repayment of short-term bank loans

23,412

0

47,201

22,833

8,014

14,286

10,847

7,397

18,355

Proceeds from long-term bank loans

-

-

-

70,000

30,000

0

0

-

-

Repayment of long-term bank loans

0

0

66,300

33,700

0

0

-

-

-

Payment for cash deposit as security for bank loans

-

-

-

104,172

30,000

0

-

-

-

Maturity of deposit as security for bank loans

0

37,756

63,152

30,370

0

0

-

-

-

Net proceeds from reissuance of treasury stock

0

0

80,583

33,212

0

0

-

-

-

Acquisition of noncontrolling interest

-

-

-

86,830

1,963

0

7,635

0

0

Proceeds from issuance of convertible notes

-

-

-

-

-

-

-

-

8,967

Excess tax benefits from share-based compensation arrangements

0

2,613

1,518

1,611

0

0

-

-

-

Repayment of noncontrolling interest shareholder loan

-

-

-

-

-

-

-

3,683

772

Dividend paid by subsidiaries to noncontrolling interest shareholders

18,789

7,921

0

8,846

16,931

7,120

10,489

10,446

2,969

Contribution from noncontrolling interest shareholders

-

-

-

-

2,891

0

0

-

-

Dividend to the trial court to be held in escrow as to dispute with Jiean

0

0

3,690

0

0

-

-

-

-

Payment to noncontrolling interest shareholders in connection with their capital withdrawal

0

58,091

0

0

-

-

-

-

-

Net cash (used in)/provided by financing activities

-18,324

-22,083

51,579

-142,827

-38,524

-5,104

-10,076

-14,278

1,564

EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH

12,607

-9,826

-7,098

-597

4,318

957

3,204

2,440

23

NET INCREASE IN CASH AND CASH EQUIVALENTS

35,571

38,827

64,117

-63,318

14,529

40,197

24,470

11,097

45,029

Supplemental cash flow information
Cash paid for income taxes

24,691

22,210

23,348

17,652

15,947

14,940

15,007

15,756

8,021

Cash paid for interest expense

252

84

1,526

3,150

347

446

890

810

1,131

Noncash investing and financing activities:
Reclassification of warrant liability to paid-in capital upon warrants exercise

-

-

-

-

-

-

-

-

4,921

Convertible notes conversion

-

-

-

-

-

-

12,972

7,447

2,187

Distribution paid by offsetting accounts receivable - related party

-

-

-

-

-

-

-

-

944

Distribution paid in exchange of noncontrolling interest shareholders loan

-

-

-

-

-

-

-

-

3,665

Distribution paid by offsetting loan and interest due from holder of noncontrolling interest

-

-

-

-

-

-

-

-

4,647

Net assets acquired with prepayments made in prior periods

-

-

-

-

-

-

-

-

14,250

Net assets acquired with unpaid investment

-

-

-

-

-

-

-

-

2,850

Transfer from prepayments and deposits to property, plant and equipment

-

-

-

-

-

38

959

1,078

2,296

Land use right acquired with prepayments made in prior periods

-

-

-

-

-

0

312

0

146

Acquisition of property, plant and equipment included in payables

7,548

4,912

6,363

3,300

4,252

104

83

2,164

373

Loan receivable offset by accounts payable

0

5,848

0

0

-

-

-

-

-

Exercise of warrants that were liability classified

-

-

-

-

-

3,641

0

3,045

-

Restricted cash spent for property, plant and equipment

-

-

-

-

2,928

0

0

0

-