| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||
Net income | ||||||||
- | - | - | - | - | - | - | - | 5,954 |
Net income | ||||||||
13,154 | 17,213 | 5,627 | 3,460 | 2,600 | 1,338 | 1,572 | -2,453 | - |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||
Depreciation and amortization | ||||||||
5,938 | 5,290 | 4,937 | 4,939 | 4,201 | 2,523 | 2,090 | 1,848 | 1,505 |
Bad debt expense | ||||||||
-784 | 58 | 1,651 | 0 | 0 | 483 | 1,744 | 387 | 19 |
Allowance inventory obsolescence | ||||||||
- | - | - | - | - | - | - | - | 26 |
Loss on disposal of property, plant and equipment | ||||||||
-272 | -48 | -609 | -233 | -227 | -263 | -71 | -24 | -87 |
Impairment of plant and equipment | ||||||||
569 | 0 | 530 | 0 | - | - | - | - | - |
Loss on derivative instruments | ||||||||
- | - | - | - | -62 | -194 | 236 | -54 | - |
(Gain) loss on derivative instruments | ||||||||
- | - | - | - | - | - | - | - | -11 |
Deferred taxes | ||||||||
-156 | 374 | -32 | 9 | -845 | -23 | 102 | -27 | -59 |
Changes in fair value of foreign exchange derivatives | ||||||||
-1,145 | 228 | 0 | - | - | - | - | - | - |
Loss on exchange rate difference | ||||||||
- | - | - | - | - | - | - | - | -785 |
Gain on deconsolidation of a subsidiary | ||||||||
0 | 6,004 | 0 | - | - | - | - | - | - |
Equity in loss (earnings) of investees | ||||||||
-140 | 107 | 351 | 0 | - | - | - | -108 | -39 |
Gain on dilution in equity method investee | ||||||||
0 | 500 | 0 | - | - | - | - | - | - |
Gain on sale of long-term investment | ||||||||
0 | 1,677 | 0 | - | - | - | - | - | - |
Share based compensation | ||||||||
941 | 326 | 317 | 653 | 1,288 | 426 | 203 | 650 | 114 |
Changes in fair value of warrant liability | ||||||||
0 | -0 | -140 | -927 | -106 | 0 | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
21,085 | 11,926 | 13,809 | 5,446 | -1,472 | 8,511 | 5,650 | -179 | 5,052 |
Other assets | ||||||||
-76 | 288 | 0 | - | - | - | - | - | - |
Notes receivable | ||||||||
-2,291 | 1,389 | -575 | 1,222 | -388 | 605 | -127 | 241 | -340 |
Advances to suppliers | ||||||||
-3,567 | 5,070 | 72 | - | - | - | - | - | - |
Prepayments and other receivables | ||||||||
5,039 | 673 | 1,683 | 2,435 | - | - | - | - | - |
Amount due from a related party | ||||||||
-650 | -7,140 | 7,457 | 0 | - | - | - | - | - |
Amount due to related parties | ||||||||
141 | -1,569 | 1,589 | 0 | - | - | - | - | - |
Prepayments | ||||||||
- | - | - | - | -1,661 | 1,656 | -1,063 | 1,936 | 401 |
Other receivable | ||||||||
- | - | - | - | -391 | 239 | -248 | 225 | 140 |
Inventories | ||||||||
14,407 | 24,705 | 4,410 | -1,831 | 2,602 | 2,618 | 3,020 | -1,380 | 3,337 |
Accounts payable | ||||||||
5,509 | 15,183 | 11,196 | -3,322 | 5,672 | 14,566 | 6,624 | 3,107 | 2,150 |
Deferred government grants | ||||||||
250 | 154 | - | - | - | - | - | - | - |
Deferred government grant | ||||||||
- | - | -64 | 1,890 | 1,880 | 0 | 653 | 0 | - |
Other payables and accrued liabilities | ||||||||
14,422 | 2,023 | 5,471 | 755 | -1,867 | 3,178 | -2,503 | 1,630 | - |
Other payables and accrued liabilities | ||||||||
- | - | - | - | - | - | - | - | 1,419 |
Income taxes payable | ||||||||
-86 | 2,240 | 307 | -74 | 691 | 72 | 754 | -793 | 287 |
Net cash flows provided by operating activities | ||||||||
- | - | - | 346 | 15,119 | 9,394 | 3,845 | - | - |
Net cash flows provided by (used in) operating activities | ||||||||
7,510 | -4,082 | 4,794 | - | - | - | - | 3,694 | 3,711 |
Cash flows from investing activities | ||||||||
Acquisitions of plant and equipment | ||||||||
15,598 | 13,730 | 8,487 | 11,256 | 8,881 | 19,981 | 11,646 | 7,674 | 5,201 |
Loan to a related party | ||||||||
0 | 514 | 0 | - | - | - | - | - | - |
Proceeds from sale of long-term investment | ||||||||
0 | 10,535 | 0 | - | - | - | - | - | - |
Acquisition of land use right | ||||||||
- | - | - | - | - | - | 1,327 | 0 | - |
Net cash flows used in investing activities | ||||||||
- | - | - | -11,256 | -8,881 | -19,981 | -12,974 | - | - |
Investment in associate | ||||||||
- | - | - | - | - | - | - | - | 103 |
Impact to cash resulting from deconsolidation of a subsidiary | ||||||||
0 | 632 | 0 | - | - | - | - | - | - |
Payment for long-term investment | ||||||||
316 | 0 | 3,005 | 0 | - | - | - | - | - |
Net cash flows used in investing activities | ||||||||
-15,915 | -4,342 | -11,493 | - | - | - | - | -7,674 | -5,305 |
Cash flows from financing activities | ||||||||
Proceeds from short-term bank loans | ||||||||
28,824 | 12,725 | 19,611 | 14,430 | 20,346 | 34,088 | 14,627 | 13,936 | 11,703 |
Repayments of short-term bank loans | ||||||||
12,983 | 22,331 | 13,526 | 13,438 | 41,122 | 18,770 | 3,776 | 16,186 | 4,691 |
Proceeds from issuance of capital stock and warrants, net | ||||||||
- | - | - | - | 4,633 | 0 | - | - | - |
Capital contribution from non-controlling interest | ||||||||
- | - | - | - | - | - | 950 | 0 | - |
Proceeds from a related party | ||||||||
5,945 | 0 | 0 | - | - | - | - | - | - |
Repayment of loan from a related party | ||||||||
195 | 0 | - | - | - | - | - | - | - |
Proceeds from non-financial institution borrowings | ||||||||
0 | 10,386 | 4,508 | 0 | - | - | - | - | - |
Repayments of non-financial institution borrowing | ||||||||
1,507 | 3,857 | 601 | 0 | - | - | - | - | - |
Proceeds from letter credit | ||||||||
- | - | - | - | - | - | - | 11,403 | 8,129 |
Repayment of letter credit | ||||||||
- | - | - | - | - | - | 2,880 | 9,916 | 9,585 |
Proceeds from long-term bank loans | ||||||||
- | - | - | - | - | - | 7,924 | 0 | - |
Repayment of long-term bank loans | ||||||||
- | - | 1,803 | 1,924 | 1,952 | 1,937 | 316 | 0 | - |
Proceeds from notes payable | ||||||||
130,784 | 90,871 | 59,952 | 63,544 | 52,258 | 45,285 | 46,359 | 36,655 | 21,556 |
Repayments of notes payable | ||||||||
108,233 | 69,511 | 57,731 | 61,118 | 47,536 | 46,960 | 38,188 | 29,407 | 18,715 |
Payment of derivative instruments | ||||||||
375 | 0 | - | - | - | - | - | - | - |
Proceeds from exercise of employee options | ||||||||
0 | 802 | 35 | 44 | - | - | - | - | - |
Repayment from GZ Highpower | ||||||||
0 | 6,035 | - | - | - | - | - | - | - |
Change in restricted cash | ||||||||
- | - | -320 | 2,966 | 13,038 | -350 | -14,696 | -6,279 | -566 |
Net cash flows provided by financing activities | ||||||||
- | - | - | 4,504 | -335 | 11,354 | 10,004 | - | - |
Net cash flows (used in) provided by financing activities | ||||||||
42,258 | 25,121 | 10,125 | - | - | - | - | 204 | 7,830 |
Effect of foreign currency translation on cash | ||||||||
-4,898 | 3,222 | 47 | -2,356 | 735 | 579 | 575 | 459 | -714 |
Net decrease in cash and restricted cash | ||||||||
28,956 | 19,918 | - | - | - | - | - | - | - |
Supplemental disclosures for cash flow information: | ||||||||
Cash paid for: | ||||||||
Income taxes | ||||||||
2,625 | 1,700 | 1,163 | 883 | 743 | 668 | 275 | 1,303 | 1,036 |
Interest expenses | ||||||||
1,950 | 1,550 | 1,229 | - | - | - | - | - | - |
Interest expenses | ||||||||
- | - | - | 1,002 | 1,912 | 1,647 | 1,247 | 788 | 406 |
Non-cash investing and financing activities: | ||||||||
Shares issued for legal case settlement | ||||||||
212 | 0 | - | - | - | - | - | - | - |
Accounts payable for construction in progress | ||||||||
- | - | - | - | - | 1,294 | 3,767 | 5,319 | - |
Offset of deferred income related to government grant and property, plant and equipment | ||||||||
75 | 263 | 229 | 2,547 | 672 | 0 | - | - | - |
Purchase of plant and equipment financed by accounts payable | ||||||||
-3,895 | 1,150 | - | - | - | - | - | - | - |
Reconciliation of cash and restricted cash: | ||||||||
Net increase in cash | ||||||||
- | - | 3,474 | -8,761 | 6,638 | 1,346 | 1,451 | -3,315 | 5,523 |
Transfer of equipment to Yipeng | ||||||||
- | - | 7,156 | 0 | - | - | - | - | - |