China xd plastics co ltd (CXDC)
CashFlow / Yearly
Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10
Cash flows from operating activities:
Net income

68,313

31,621

101,612

83,732

120,776

133,838

85,867

60,518

28,836

Net reversal for doubtful accounts

-

-

0

69

35

2

-

-

-

Net provision (reversal) for doubtful accounts

-

-

-

-

-

-

34

83

-

Net provision for/(reversal of) doubtful accounts

-

-

-

-

-

-

-

-

-132

Depreciation and amortization

46,282

43,055

34,244

27,540

22,916

21,420

10,705

5,142

3,327

Stock-based compensation

3,353

553

686

1,044

1,003

3,757

1,393

649

14,854

Change in fair value of embedded derivative liability

-

-

-

-

-

-

0

-

-

Change in fair value of embedded derivative liability

-

-

-

-

-

-

-

0

8,646

Loss on change in fair value of warrants liability

-

-

-

-

-1,871

-54

2,854

1,856

-

Amortization of discount and issuance cost of the Notes

-

-

767

1,086

898

0

0

-

-

Amortization of issuance cost of the Syndicate loan facility

1,736

3,750

1,273

0

-

-

-

-

-

Losses (gains) on foreign currency option contracts

1,070

-1,048

0

0

-2

0

0

-

-

Foreign currency exchange losses (gains)

5,425

-6,038

2,965

-2,720

-2,051

2,519

561

876

-

Change in fair value of warrants liability

-

-

-

-

-

-

-

-

-6,344

Other income

-

-

-

-

-

-

-

-

83,990

Other expense

-

-

-

-

-

-

-

-

83,990

Foreign currency exchange loss, net

-

-

-

-

-

-

-

-

0

Losses on disposals of property, plant and equipment

-2,423

-17

-259

-9

-10

-4

0

14

-522

Losses on disposal of a subsidiary

-214

-

-

-

-

-

-

-

-

Deferred income tax benefit

-1,917

-2,407

-2,292

-2,380

-2,018

-1,880

-1,574

-465

20,997

Loss on debt extinguishment

-

-

-18,963

0

0

-

-

-

-

Restricted cash

-

-

27,269

4,011

6,427

-6,082

827

10,838

-

Accounts receivable

5,147

-120,443

190,860

40,614

-72,318

132,230

97,157

14,501

-

Amounts due from a related party

-

-243

0

35

0

-6

137

3

-

Accounts receivable

-

-

-

-

-

-

-

-

-25,308

Amounts due from a related party

-

-

-

-

-

-

-

-

-75

Inventories

228,481

120,026

3,764

58,103

109,198

63,358

32,494

17,836

-6,106

Prepaid expenses and other current assets

39,949

26,354

-21,222

4,542

3,719

2,134

-6,830

-20,760

-

Value added tax in long-term prepayments to equipment suppliers

-50,794

-23,267

-575

0

-

-

-

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-10,565

Other non-current assets

-49

-10,113

-1,386

371

0

-1

-96

264

0

Bills payable

391,738

92,130

-

-

-

-

-

-

-

Bills payable

-

-

122,226

-8,119

18,538

15,676

-12,998

21,664

-

Accounts payable

-148,839

-108,053

82,085

116,133

32,823

113,429

6,576

-338

-

Amounts due to related parties

-

-12

3

8

0

-

-

-

-

Income taxes payable

-1,701

16,581

-5,807

-3,889

-8,996

17,835

2,604

5,596

-

Accrued expenses and other current liabilities

38,528

20,097

-75,664

86,963

5,935

5,662

3,044

-136

-

Deferred income

-4,917

-4,630

-

-

-

-

-

-

-

Deferred income

-

-

-304

3,371

0

0

-

-

-

Other non-current liabilities

-3,000

64,895

9,255

11,098

0

0

-

-

-

Net cash provided by (used in) operating activities

-

-

-

-

148,748

115,646

-

-

-

Accrued expenses and other current liabilities

-

-

-

-

-

-

-

-

1,194

Net cash (used in) provided by operating activities

61,393

125,840

84,483

227,370

-

-

-31,454

67,283

10,521

Cash flows from investing activities:
Purchase of time deposits

255,518

564,710

475,315

474,254

626,994

460,292

374,481

0

-

Purchases of and deposits for property, plant and equipment

-

-

-

-

-

-

97,492

-

-

Purchase of land use rights

-

8,279

0

13,931

1,460

0

0

-

-

Purchase of and deposits for property, plant and equipment

429,205

456,474

210,840

267,427

334,092

21,461

-

62,489

5,909

Proceeds from maturity of time deposits

540,066

475,873

515,088

463,771

663,216

231,849

327,121

0

-

Net cash used in investing activities

-

-

-

-

-299,331

-249,904

-

-

-

Purchases and deposits for property, plant and equipment and land use rights

-

-

-

-

-

-

-

-

12,596

Proceeds from disposal of property, plant and equipment

416

-

-

-

-

-

-

-

330

Refund of deposit from equipment suppliers

120,532

280,814

0

0

-

-

-

107

-

Deposits for acquisition of equity

3,506

11,937

0

0

-

-

-

-

-

Refund of deposits for acquisition of equity

15,299

-

-

-

-

-

-

-

-

Government grant related to the construction of Sichuan plant

10,281

29,382

22,478

11,499

0

0

-

-

-

Cash disposed for sales of a subsidiary

41

-

-

-

-

-

-

-

-

Net cash used in investing activities

-1,675

-255,331

-148,588

-280,342

-

-

-144,852

-62,382

-12,265

Cash flows from financing activities:
Proceeds from bank borrowings

1,238,947

842,571

687,164

504,218

797,615

503,843

243,045

30,639

20,685

Repayments of bank borrowings

1,255,214

682,921

537,809

339,528

831,932

358,190

114,369

21,664

21,867

Proceeds from interest-free advances from related parties

22,145

-

-

-

-

-

-

-1,769

-

Repayments of interest-free advances from related parties

3,779

-

-

-

-

-

-

-

221

Proceeds from issuance of redeemable Series D convertible preferred stock

-

-

-

-

-

-

-

-

0

Payment of issuance cost of Series D convertible preferred stock

-

-

-

-

-

-

-

722

0

Placement of restricted cash as collateral for bank borrowings

-

-

-66,757

-33,077

-20,612

-8,173

-4,775

0

-

Payments of issuance cost of bank borrowings

-

-

6,770

0

0

-

-

-

-

Net cash provided by financing activities

-

-

-

-

99,367

143,212

-

-

-

Investment received in advance from a related party

75,567

-

-

-

-

-

-

-

1,769

Refund of investment received in advance from a related party

75,567

-

-

-

-

-

-

-

-

Redemption of notes payable

-

-

165,366

0

0

-

-

-

-

Proceeds from Syndicate loan facility

-

-

180,000

-

-

-

-

-

-

Redemption of redeemable Series C convertible preferred stock

-

-

-

-

-

-

1

0

-

Proceeds from Senior Notes Payable

-

-

-

-

148,396

0

0

-

-

Payment of issuance costs of the Notes

-

-

-

-

4,718

0

0

-

-

Proceeds from exercise of Series A investor warrants

-

-

-

-

-596

0

0

-

-

Proceeds from exercise of stock options

120

-

0

121

0

0

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

18,821

Net cash provided by (used in) financing activities

2,218

159,649

121,836

131,734

-

-

123,898

105,598

17,390

Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash

-15,035

18,356

-9,574

-4,290

1,126

2,768

748

2,262

223

Net increase in cash, cash equivalents and restricted cash

46,900

48,515

-

-

-

-

-

-

-

Net (decrease) increase in cash, cash equivalents and restricted cash

-

-

48,157

74,471

-50,089

11,723

-51,659

112,761

15,869

Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest

43,664

38,695

-

-

-

-

-

-

-

Accrual for issuance cost of the Notes

-

-

-

-

202

0

0

-

-

Income taxes paid

17,982

13,030

-

-

-

-

-

-

288

Interest paid, net of US$2,893,630, US$ 2,562,026 and US$ 231,356 capitalized for the years ended December 31, 2017, 2016 and 2015, respectively

-

-

45,782

40,136

33,537

15,413

3,618

1,830

1,241

Bills payable

-

-

-

-

-

-

-

-

0

Accounts payable

-

-

-

-

-

-

-

-

-2,095

Income taxes paid

-

-

19,521

8,982

29,288

30,742

28,486

12,978

64

Non-cash investing activities:
Consideration receivable for the disposal of a subsidiary

7,285

-

-

-

-

-

-

-

-

Government grant related to construction in the form of repayment of bank loans on behalf of the Company by the government

-

-

0

38,118

0

0

-

-

-

Government grant related to the construction of Sichuan plant in the form of restricted cash (note 2(e))

-

-

0

11,117

0

0

-

-

-

Accrual for purchase of equipment and construction included in accrued expenses and other current liabilities

6,188

5,144

94,031

41,251

0

21,398

36,450

2,199

-

Non-cash financing activities:
Dividends paid to Series C convertible preferred stockholders

-

-

-

-

-

-

0

792

1,796

Purchase of treasury stock

-

-

-

-

-

-

-

92

0

Proceeds from issuance of redeemable Series D convertible preferred stock

-

-

-

-

-

-

-

100,000

-

Release of restricted cash as collateral for bank borrowings

-

-

31,375

0

10,022

5,733

0

-

-

Release of restricted cash as collateral for bank borrowings

-

-

-

-

-

-

-

-

0

Conversion of Series C convertible preferred stock into common stock

-

-

-

-

-

-

-

-

24,040

Accrual for purchase of equipment

-

-

-

-

-

-

-

-

2,100

Contract settled in common stock

-

-

-

-

-

-

-

-

135

Accrual of issuance cost of Series D convertible preferred stock

-

-

-

-

-

-

-

200

0

Stockholder contribution in connection with the issuance of Series D convertible preferred stock (see note 13)

-

-

-

-

-

-

-

-

0