CHINA BIOLOGIC PRODUCTS HOLDINGS, INC. CBPO Cash Flow

China biologic products holdings, inc. (CBPO)

CashFlow / Quarterly

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
34,836	34,338	23,180	35,388	37,491	32,733	20,329	29,878	34,242	29,655	17,181	28,206	26,771	23,952	12,023	19,947	22,977	21,912	10,188	18,473	19,592	17,718	-	-	20,675	9,828
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
2,991	3,052	5,016	2,356	2,322	2,267	2,075	1,980	1,922	2,201	1,852	1,847	1,817	1,472	1,546	1,444	1,571	1,534	1,465	2,045	1,184	1,096	-	-	1,083	1,108
Amortization
255	428	96	240	221	216	217	222	206	208	199	187	194	177	338	325	419	282	794	768	769	755	-	-	884	884
Loss on disposal of property, plant and equipment
-56	-63	-77	-100	-24	-90	-2,660	-50	-252	-60	-19	-81	-35	-35	-14	68	71	-1	-456	-311	-45	-15	-	-	-124	-8
Allowance for doubtful accounts - accounts receivable, net
33	-10	2	113	6	0	-0	-0	11	23	0	-25	19	-18	31	0	0	0	-19	43	-80	58	-	-	-	-28
Allowance for doubtful accounts - prepayments and other receivables
-	-	-	-	-	-	-0	-0	0	0	5,068	0	0	0	27	31	6	-0	15	58	35	0	-	-	-	-
Write-down of obsolete inventories
0	0	166	28	1	59	59	-0	12	4	315	0	0	9	0	0	0	0	-	-	-14	63	-	-	76	74
Deferred income tax benefit
-433	266	-1,295	-125	-697	-887	-115	-223	-334	502	2,548	-220	234	920	-315	-292	186	534	1,643	-542	-71	98	-	-	-300	-377
Share-based compensation
8,129	8,072	8,089	7,008	4,737	4,569	4,473	3,607	2,063	1,969	2,064	1,369	980	980	973	1,028	1,413	1,634	1,470	1,081	1,030	962	-	-	1,243	1,174
Change in fair value of derivative liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	559	1,209	-	-	11,175	1,021
Amortization of deferred note issuance cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38	53
Amortization of discount on convertible notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,045	1,458
Equity in (income) /loss of an equity method investee
972	911	1,378	1,097	259	-216	-173	-376	-666	-95	6,870	-84	1,523	337	787	642	610	128	446	744	451	1,022	-	-	463	270
Change in operating assets and liabilities:
Accounts receivable
8,497	17,570	-5,132	2,248	8,588	5,267	-9,083	-2,606	9,657	9,178	-5,318	36	1,081	6,391	-5,090	4,443	3,020	3,294	-3,817	-6,564	-3,241	7,933	-	-	6,796	3,353
Accounts receivable -a related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	-213
Other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	244	-272
Inventories
13,639	9,130	15,583	11,970	8,653	3,869	6,036	786	23,383	1,889	4,713	1,852	3,987	2,865	4,559	2,256	2,968	647	7,258	-1,462	-898	-1,146	-	-	4,337	4,981
Prepayments and other current assets
-418	2,281	-2,444	2,931	120	-2,554	-136	-1,908	-472	1,638	633	6,208	826	1,566	-96	619	-468	569	-200	176	-364	657	-	-	126	1,172
Accounts payable
-345	378	5,262	706	695	-3,696	4,689	-9,464	9,641	482	8	835	947	-1,385	367	1,012	216	25	-1,081	442	-664	-881	-	-	697	503
Advance from customers
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-293	-1,981	1,451	-	-1,341	-266	668	-	-	1,183	-326
Due to related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	157	-235	94	396	-918	-1,226	2,482	-	-	0	0
Advance from customers - a related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Income tax payable
-1,350	1,869	-176	1,858	684	3,654	-1,755	1,053	-1,013	-209	3,856	700	22	1,103	-1,284	2,098	-2,528	1,267	-1,422	2,703	-615	-1,569	-	-	2,171	564
Other payables and accrued expenses
2,501	-5,411	7,775	911	3,816	-8,282	2,494	6,632	3,280	-5,672	4,114	186	4,741	-4,570	1,474	3,122	34	-2,068	-4,846	2,578	606	-3,584	-	-	2,274	-1,895
Deferred income
-121	-121	-274	-156	-127	-127	-132	-134	-74	-74	-74	-74	-74	0	-	-	-	-	-	-	-	-	-	-	-	-
Other taxes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	401	162
Net cash provided by operating activities
23,863	13,033	35,941	30,303	32,781	24,231	37,124	37,706	18,019	16,541	29,406	25,080	27,511	11,515	15,843	20,551	15,878	22,030	6,311	32,716	23,861	8,208	12,677	13,443	9,471	2,878
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for property, plant and equipment
7,038	8,936	8,415	15,733	11,549	13,672	12,480	9,823	8,007	8,478	3,269	3,681	3,857	6,385	3,415	5,163	6,935	4,977	6,449	2,338	2,772	2,325	2,089	1,282	2,903	1,692
Payment for intangible assets and land use rights
515	151	62	221	384	967	9,301	-6	4,205	0	1,843	1,606	144	1,083	185	3	335	802	13,262	0	478	318	0	11	208	205
Refund of payments and deposits related to land use right
0	0	0	3,835	5,467	994	0	0	0	0	0	0	0	1,635	2,100	0	0	0	-	-	-	-	-	-	-	-
Purchase of time deposit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds upon maturity of time deposit
-	-	-	-	-	-	-	-	-	-	0	0	0	6,608	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposal of property, plant and equipment and land use rights
21	3	41	251	37	63	85	182	552	6	4	25	15	174	18	92	81	2	83	0	0	0	-	-	-	-
Loans lent to a third party
0	0	0	6,001	0	6,331	12,293	28,450	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-7,533	-9,084	-8,436	-17,740	-6,429	-19,913	-33,991	-35,631	-11,660	-8,472	-5,108	-5,262	-3,986	949	-8,086	-5,075	-6,628	-5,777	-3,677	-16,387	-4,044	-2,644	-1,487	-629	-3,112	-1,897
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock option exercised
407	98	344	849	2,364	0	525	6,449	321	449	1,602	614	1,437	205	2,359	366	853	1,815	607	120	0	0	-	-	-	-
Proceeds from short-term bank loans
14,294	8,715	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	222	0	12,286	6,087
Payment for deposit as security for long-term bank loans
-	-	-	-	-	-	-	-	-	-	-	0	162	72,128	-	30,000	0	0	-	-	-	-	-	-	-	-
Payment for share repurchase
-	-	-	-	-	-	-	-	-	-	0	0	0	70,000	0	29,594	0	0	-	-	-	-	-	-	-	-
Repayment of short-term bank loans
-	-	-	-	-	-	-50,709	0	66,300	31,610	-15,772	33,700	0	4,905	0	0	4,827	3,186	3,180	0	4,754	6,352	-24	7,809	18	3,043
Proceeds from long-term bank loans
-	-	-	-	-	-	-	-	-	-	0	0	0	70,000	0	30,000	0	0	-	-	-	-	-	-	-	-
Maturity of deposit as security for bank loans
0	0	0	0	0	37,756	0	31,167	0	31,985	30,370	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,963	0	0	0	0	0	0	0	7,635
Dividend paid by subsidiaries to noncontrolling interest shareholders
0	0	0	0	0	7,921	0	0	0	0	2,811	4,625	0	1,409	6,034	2,786	3,712	4,397	2,741	0	-3	4,382	2,745	2,154	0	5,589
Dividend to the trial court to be held in escrow as to dispute with Jiean
-	-	-	-	-	-	0	0	702	2,988	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in)/provided by financing activities
5,987	8,813	-41,629	-12,653	2,364	29,834	1,935	37,616	14,191	-2,163	-18,286	-48,339	2,036	-78,238	4,100	-32,014	-2,879	-7,731	-5,314	11,196	-250	-10,734	-2,299	-9,963	12,367	-10,181
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH
3,569	829	-5,313	-740	-4,798	1,026	-2,791	-3,645	76	-738	230	-123	113	-817	784	770	2,183	579	566	-289	-54	733	221	607	1,807	567
NET INCREASE IN CASH AND CASH EQUIVALENTS
25,886	13,591	-19,438	-830	23,917	35,178	2,277	36,045	20,627	5,167	6,241	-28,644	25,675	-66,590	12,641	-15,767	8,554	9,100	-2,113	27,235	19,512	-4,437	9,111	3,458	20,533	-8,633
Supplemental cash flow information
Cash paid for income taxes
8,651	4,969	5,904	5,464	6,973	3,867	5,274	5,244	7,456	5,373	3,554	6,533	4,287	3,276	3,990	3,065	6,087	2,804	4,951	1,318	4,021	4,648	3,831	3,653	3,445	4,076
Cash paid for interest expense
-	-	-	-	-	-	99	-1	768	660	1,041	1,041	735	331	74	74	79	119	149	91	45	159	199	319	92	278
Noncash investing and financing activities:
Transfer from prepayments and deposits to property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	791	6,367	447	-	-	-	-	-	-	836	0
Acquisition of property, plant and equipment included in payables
2,339	1,863	-599	-3,800	6,225	3,087	4,373	1,758	42	189	312	182	231	2,574	2,749	-52	1,454	100	104	-347	340	6	-	-	-426	2,420