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

127,743

130,398

128,793

125,942

120,432

117,183

114,105

110,957

109,285

101,815

96,112

90,954

82,695

78,901

76,861

75,026

73,551

70,166

65,971

0

0

0

-

-

0

0

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

13,416

12,747

11,962

9,021

8,645

8,245

8,179

7,956

7,823

7,717

6,989

6,682

6,280

6,034

6,096

6,016

6,616

6,230

5,792

0

0

0

-

-

0

0

Amortization

1,019

986

775

896

878

863

854

836

802

789

758

897

1,034

1,260

1,365

1,822

2,265

2,615

3,088

0

0

0

-

-

0

0

Loss on disposal of property, plant and equipment

-297

-266

-293

-2,876

-2,826

-3,054

-3,024

-383

-414

-196

-172

-167

-18

89

123

-318

-697

-814

-828

0

0

0

-

-

0

0

Allowance for doubtful accounts - accounts receivable, net

140

113

123

120

6

11

34

35

9

17

-24

7

33

13

31

-19

23

-56

1

0

0

0

-

-

-

0

Allowance for doubtful accounts - prepayments and other receivables

-

-

-

-

-

-

0

5,068

5,068

5,068

5,068

27

58

65

65

53

80

109

110

0

0

0

-

-

-

-

Write-down of obsolete inventories

195

197

256

150

121

131

76

332

332

320

324

9

9

9

0

0

0

0

-

-

0

0

-

-

0

0

Deferred income tax benefit

-1,587

-1,852

-3,006

-1,825

-1,923

-1,560

-170

2,493

2,496

3,066

3,483

619

546

497

112

2,071

1,821

1,563

1,127

0

0

0

-

-

0

0

Share-based compensation

31,299

27,908

24,405

20,789

17,387

14,713

12,114

9,705

7,467

6,385

5,396

4,305

3,964

4,397

5,050

5,547

5,599

5,217

4,544

0

0

0

-

-

0

0

Change in fair value of derivative liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,769

0

0

0

-

-

0

0

Amortization of deferred note issuance cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Amortization of discount on convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

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

4,359

3,647

2,519

967

-506

-1,432

-1,311

5,732

6,024

8,213

8,646

2,564

3,291

2,378

2,170

1,829

1,931

1,772

2,665

0

0

0

-

-

0

0

Change in operating assets and liabilities:
Accounts receivable

23,183

23,274

10,971

7,021

2,167

3,235

7,146

10,910

13,553

4,977

2,191

2,419

6,826

8,765

5,667

6,941

-4,067

-10,329

-5,689

0

0

0

-

-

0

0

Accounts receivable -a related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Inventories

50,323

45,337

40,077

30,530

19,345

34,075

32,095

30,772

31,839

12,442

13,418

13,265

13,669

12,650

10,432

13,130

9,411

5,544

3,750

0

0

0

-

-

0

0

Prepayments and other current assets

2,349

2,889

-1,946

361

-4,479

-5,072

-879

-108

8,008

9,307

9,236

8,506

2,916

1,621

624

520

77

181

268

0

0

0

-

-

0

0

Accounts payable

6,001

7,042

2,966

2,394

-7,776

1,170

5,348

667

10,967

2,273

405

764

941

210

1,621

173

-395

-1,277

-2,184

0

0

0

-

-

0

0

Advance from customers

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

0

0

Due to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

413

-662

-1,654

734

0

0

0

-

-

0

0

Advance from customers - a related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Income tax payable

2,202

4,237

6,022

4,442

3,637

1,938

-1,926

3,686

3,334

4,370

5,683

542

1,939

-611

-446

-584

20

1,933

-904

0

0

0

-

-

0

0

Other payables and accrued expenses

5,777

7,092

4,221

-1,059

4,660

4,124

6,734

8,355

1,909

3,371

4,472

1,832

4,767

60

2,562

-3,757

-4,301

-3,729

-5,244

0

0

0

-

-

0

0

Deferred income

-674

-680

-686

-543

-521

-469

-416

-358

-299

-298

-224

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other taxes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash provided by operating activities

103,142

112,059

123,258

124,441

131,843

117,081

109,392

101,673

89,048

98,540

93,514

79,950

75,421

63,788

74,302

64,771

76,936

84,919

71,097

77,463

58,189

43,799

38,469

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for property, plant and equipment

40,124

44,635

49,371

53,436

47,527

43,985

38,790

29,579

23,437

19,286

17,194

17,340

18,822

21,900

20,492

23,525

20,700

16,537

13,886

9,526

8,470

8,602

7,968

0

0

0

Payment for intangible assets and land use rights

951

819

1,635

10,874

10,646

14,468

13,500

6,042

7,655

3,594

4,677

3,020

1,417

1,608

1,327

14,403

14,400

14,542

14,059

796

807

538

424

0

0

0

Refund of payments and deposits related to land use right

3,835

9,303

10,297

10,297

6,461

994

0

0

0

0

1,635

3,735

3,735

3,735

2,100

0

0

0

-

-

-

-

-

-

-

-

Purchase of time deposit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Proceeds upon maturity of time deposit

-

-

-

-

-

-

-

-

-

-

6,608

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

317

333

393

436

368

884

827

746

588

51

220

235

301

367

194

258

166

85

83

0

0

0

-

-

-

-

Loans lent to a third party

6,001

6,001

12,332

24,626

47,075

47,075

40,744

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-42,794

-41,691

-52,520

-78,074

-95,966

-101,197

-89,755

-60,873

-30,503

-22,829

-13,407

-16,386

-16,198

-18,840

-25,567

-21,157

-32,470

-29,885

-26,753

-24,563

-8,805

-7,873

-7,127

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock option exercised

1,700

3,657

3,558

3,739

9,339

7,296

7,745

8,822

2,988

4,104

3,860

4,617

4,368

3,783

5,394

3,642

3,396

2,543

727

0

0

0

-

-

-

-

Proceeds from short-term bank loans

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,595

0

0

0

Payment for deposit as security for long-term bank loans

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Payment for share repurchase

-

-

-

-

-

-

-

-

-

-

70,000

70,000

99,594

99,594

29,594

0

0

0

-

-

-

-

-

-

-

-

Repayment of short-term bank loans

-

-

-

-

-

-

47,201

82,138

115,838

49,538

22,833

38,605

4,905

9,733

8,014

11,194

11,194

11,121

14,286

11,082

18,891

14,155

10,847

0

0

0

Proceeds from long-term bank loans

-

-

-

-

-

-

-

-

-

-

70,000

70,000

100,000

100,000

30,000

0

0

0

-

-

-

-

-

-

-

-

Maturity of deposit as security for bank loans

0

0

37,756

37,756

68,923

68,923

63,152

93,522

62,355

62,355

30,370

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,963

1,963

1,963

1,963

0

0

0

0

7,635

0

0

0

Dividend paid by subsidiaries to noncontrolling interest shareholders

0

0

7,921

7,921

7,921

7,921

0

2,811

7,437

7,437

8,846

12,069

10,230

13,943

16,931

13,638

10,851

7,135

7,120

7,124

9,278

9,282

10,489

0

0

0

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

-

-

-

-

-

-

3,690

3,690

3,690

2,988

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in)/provided by financing activities

-39,482

-43,104

-22,083

21,481

71,751

83,577

51,579

31,357

-54,598

-66,753

-142,827

-120,440

-104,115

-109,031

-38,524

-47,940

-4,729

-2,100

-5,104

-2,088

-23,247

-10,630

-10,076

0

0

0

EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH

-1,655

-10,022

-9,826

-7,304

-10,209

-5,333

-7,098

-4,076

-555

-518

-597

-42

851

2,922

4,318

4,100

3,040

802

957

611

1,509

3,370

3,204

0

0

0

NET INCREASE IN CASH AND CASH EQUIVALENTS

19,209

17,240

38,827

60,543

97,419

94,129

64,117

68,081

3,391

8,439

-63,318

-56,917

-44,040

-61,161

14,529

-226

42,777

53,735

40,197

51,422

27,645

28,666

24,470

0

0

0

Supplemental cash flow information
Cash paid for income taxes

24,990

23,312

22,210

21,580

21,359

21,842

23,348

21,628

22,917

19,749

17,652

18,088

14,620

16,420

15,947

16,909

15,162

13,096

14,940

13,820

16,155

15,579

15,007

0

0

0

Cash paid for interest expense

-

-

-

-

-

-

1,526

2,468

3,511

3,478

3,150

2,183

1,215

559

347

422

440

406

446

496

724

770

890

0

0

0

Noncash investing and financing activities:
Transfer from prepayments and deposits to property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

0

0

Acquisition of property, plant and equipment included in payables

-196

3,689

4,912

9,885

15,444

9,261

6,363

2,302

726

915

3,300

5,737

5,502

6,726

4,252

1,606

1,311

197

104

0

0

0

-

-

0

0