Highpower International, Inc. HPJ Cash Flow

Highpower international, inc. (HPJ)

CashFlow / TTM

Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	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
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	17,213	13,908	11,305	8,716	5,627	3,958	3,259	3,152	3,460	5,427	4,382	3,418	2,600	1,823	1,725	991	1,338	657	544	952	1,572	-804	-2,031	-2,077	-2,453	0	0	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
6,550	6,192	5,938	5,993	5,864	5,491	5,290	4,994	4,881	4,955	4,937	4,636	4,890	4,950	4,939	5,078	4,683	4,435	4,201	3,852	3,394	2,966	2,523	2,254	2,273	2,165	2,090	2,168	1,965	1,897	1,848	0	0	0
Bad debt expense
-218	-713	-784	-777	-432	72	58	38	1,664	1,656	1,651	1,661	4	0	0	1	1	0	0	487	487	487	483	584	1,458	1,720	1,744	1,397	608	406	387	0	0	0
Allowance inventory obsolescence
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Loss on disposal of property, plant and equipment
-207	-250	-272	-214	-183	-67	-48	-469	-539	-560	-609	-285	-248	-273	-233	-25	-155	-201	-227	-501	-311	-263	-263	-125	-117	-108	-71	-86	-74	-23	-24	0	0	0
Loss on derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-62	-144	-202	-202	-194	21	144	-230	236	0	0	0	-	-	-	-
(Gain) loss on derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Deferred taxes
268	97	-156	-360	-387	-106	374	184	295	-35	-32	240	174	323	9	-309	-525	-613	-845	-777	-434	-330	-23	-200	-141	33	102	0	0	0	-	-	-	-
Changes in fair value of foreign exchange derivatives
-798	-1,172	-1,145	-347	-727	642	228	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on exchange rate difference
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Equity in loss (earnings) of investees
-2,052	-714	-140	501	318	116	107	239	457	498	351	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-108	0	0	0
Share based compensation
847	904	941	974	769	543	326	160	156	231	317	361	446	642	653	759	784	1,009	1,288	1,332	1,248	778	426	217	205	211	203	184	466	463	650	0	0	0
Changes in fair value of warrant liability
-	-	-	-	-	-	-0	-25	-14	10	-140	-100	-622	-700	-927	-2,259	-462	-452	-106	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
9,009	5,844	21,085	29,152	20,194	15,527	11,926	8,707	12,634	12,782	13,809	14,394	1,442	735	5,446	-1,205	-525	2,631	-1,472	4,997	8,310	5,413	8,511	9,665	720	5,242	5,650	1,885	4,162	-1,825	-179	0	0	0
Notes receivable
2,154	4,452	-2,291	-6,460	-654	-998	1,389	4,908	1,533	-836	-575	-56	-1,473	-1,061	1,222	-502	-303	1,399	-388	1,010	1,998	882	605	198	-1,187	269	-127	822	918	-852	241	0	0	0
Advances to suppliers
-7,571	-5,217	-3,567	3,781	7,225	5,306	5,070	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepayments and other receivables
-3,945	2,058	5,039	-3,534	1,794	788	673	10,228	4,713	1,506	1,683	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amount due from a related party
-244	-791	-650	-334	-2,702	-7,264	-7,140	-3,238	91	7,295	7,457	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amount due to related parties
2	255	141	-12	-89	-1,763	-1,569	-1,528	-664	1,783	1,589	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepayments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-745	-1,661	-983	1,483	1,481	1,656	1,757	901	410	-1,063	-3,380	-2,544	-1,022	1,936	0	0	0
Other receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-450	-391	-109	-5	300	239	-7	-16	-42	-248	206	-4	-39	225	0	0	0
Inventories
-16,176	6,254	14,407	31,943	43,026	31,861	24,705	13,705	12,270	7,467	4,410	95	-3,483	-831	-1,831	2,143	4,902	1,674	2,602	3,418	1,781	3,617	2,618	-176	2,037	3,242	3,020	3,523	2,426	-212	-1,380	0	0	0
Accounts payable
-	870	-	-	-	18,918	15,183	6,428	13,545	8,685	11,196	14,729	-4,661	-518	-3,322	-11,262	-2,718	-3,643	5,672	18,011	20,039	16,780	14,566	8,468	2,359	11,205	6,624	5,009	10,788	-1,046	3,107	0	0	0
Deferred government grants
2	-224	250	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred government grant
-	-	-	-	-	-	-	-	121	51	-64	0	0	0	-	-	-	-	1,880	1,635	1,009	1,012	0	0	0	0	-	-	-	-	-	-	-	-
Other payables and accrued liabilities
7,464	11,469	14,422	13,764	7,748	4,666	2,023	3,120	2,976	2,949	5,471	3,518	788	1,427	755	35	624	-1,757	-1,867	6	-722	2,064	3,178	1,350	-2,259	-2,284	-2,503	0	0	0	-	-	-	-
Other payables and accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Income taxes payable
326	-48	-86	1,860	1,327	1,929	2,240	344	579	549	307	351	0	-24	-74	-391	29	412	691	812	389	646	72	333	456	420	754	706	348	-697	-793	0	0	0
Net cash flows provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	7,578	10,877	346	-2,788	4,345	-705	15,119	20,709	14,009	14,167	9,394	0	0	0	-	-	-	-	-	-	-	-
Net cash flows provided by (used in) operating activities
28,589	23,565	7,510	-8,275	-11,857	-10,666	-4,082	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,747	11,000	3,911	3,694	0	0	0
Cash flows from investing activities
Acquisitions of plant and equipment
16,617	18,381	15,598	16,228	14,212	12,410	13,730	7,310	9,270	10,301	8,487	12,480	11,624	10,650	11,256	10,267	9,426	8,142	8,881	13,940	16,149	19,359	19,981	13,925	10,497	11,129	11,646	12,314	13,227	10,170	7,674	0	0	0
Acquisition of land use right
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,327	0	0	0	-	-	-	-
Net cash flows used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-12,388	-10,650	-11,256	-10,267	-9,426	-8,142	-8,881	-13,940	-16,149	-19,359	-19,981	0	0	0	-	-	-	-	-	-	-	-
Payment for long-term investment
297	312	316	321	328	317	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash flows used in investing activities
-16,914	-18,693	-15,915	-17,615	-5,154	-3,340	-4,342	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,638	-14,553	-11,498	-7,674	0	0	0
Cash flows from financing activities
Proceeds from short-term bank loans
27,930	20,360	28,824	25,355	25,474	24,242	12,725	10,251	21,075	21,064	19,611	21,262	15,882	15,887	14,430	15,849	10,735	20,050	20,346	19,501	28,118	25,044	34,088	35,169	24,337	20,790	14,627	11,093	12,720	13,070	13,936	0	0	0
Repayments of short-term bank loans
27,865	26,543	12,983	10,603	19,489	20,949	22,331	20,470	16,368	14,908	13,526	0	0	0	-	-	-	-	41,122	38,956	24,622	23,808	18,770	15,753	11,095	9,563	3,776	12,653	8,960	11,845	16,186	0	0	0
Capital contribution from non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	950	0	0	0	-	-	-	-
Proceeds from a related party
8,899	8,927	5,945	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term loans
-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from non-financial institution borrowings
-	-	-	-	-	-	10,386	10,256	10,123	13,235	4,508	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of non-financial institution borrowing
8,803	10,452	1,507	1,558	3,092	1,530	3,857	4,429	2,932	2,928	601	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from letter credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,403	0	0	0
Proceeds from long-term bank loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,924	0	0	0	-	-	-	-
Repayment of long-term bank loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,924	1,944	1,954	1,950	1,952	1,952	1,952	1,949	1,937	1,766	1,279	794	316	0	0	0	-	-	-	-
Proceeds from notes payable
135,514	132,559	130,784	114,808	103,593	98,832	90,871	80,237	71,329	70,938	59,952	56,137	62,099	56,143	63,544	67,326	61,435	62,949	52,258	47,224	47,001	46,003	45,285	45,112	46,715	43,466	46,359	45,572	37,950	38,476	36,655	0	0	0
Repayments of notes payable
124,014	111,916	108,233	103,843	94,382	82,918	69,511	66,620	58,466	55,856	57,731	57,064	63,800	63,837	61,118	58,801	49,973	47,614	47,536	47,171	45,637	46,036	46,960	43,007	48,072	45,573	38,188	39,919	35,815	26,880	29,407	0	0	0
Payment of derivative instruments
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of employee options
-	-	-	-	-	-	802	651	658	103	35	19	0	35	44	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-320	1,076	1,909	6,038	2,966	2,628	7,310	5,508	13,038	15,090	4,684	5,624	-350	-7,741	-6,028	-12,226	-14,696	-6,543	-6,499	-7,213	-6,279	0	0	0
Net cash flows provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	11,437	-1,066	4,504	8,999	-5,219	13,287	-335	-1,631	12,225	4,876	11,354	0	0	0	-	-	-	-	-	-	-	-
Net cash flows (used in) provided by financing activities
2,310	12,220	42,258	36,472	18,503	26,106	25,121	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,388	1,358	13,340	204	0	0	0
Effect of foreign currency translation on cash
-4,178	-4,860	-4,898	-3,787	704	5,341	3,222	3,929	2,408	18	47	-3,093	-3,567	-2,333	-2,356	164	1,218	345	735	230	68	746	579	488	1,043	851	575	818	-208	557	459	0	0	0
Net decrease in cash and restricted cash
9,806	12,231	28,956	6,794	2,195	17,440	19,918	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures for cash flow information:
Cash paid for:
Income taxes
2,546	2,627	2,625	2,350	2,591	1,895	1,700	1,705	1,537	1,223	1,163	1,011	929	904	883	856	821	788	743	732	744	261	668	635	608	673	275	289	1,156	1,303	1,303	0	0	0
Interest expenses
2,341	2,699	1,950	1,433	1,604	1,081	1,550	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expenses
-	-	-	-	-	-	-	-	-	-	-	-	1,097	1,008	1,002	1,245	1,466	1,585	1,912	1,990	2,007	1,906	1,647	1,475	1,358	1,363	1,247	1,099	992	856	788	0	0	0
Non-cash investing and financing activities:
Accounts payable for construction in progress
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	535	439	-96	1,294	2,890	3,915	4,099	3,767	0	0	0	-	-	-	-
Offset of deferred income related to government grant and property, plant and equipment
-	-	-	-	-	-	-	-	-	-	229	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of plant and equipment financed by accounts payable
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reconciliation of cash and restricted cash:
Net increase in cash
-	-	-	-	-	-	-	-	-	-	3,474	5,567	3,059	-3,173	-8,761	-3,892	-9,081	4,785	6,638	5,368	10,153	431	1,346	933	-2,453	-10,766	1,451	-2,684	-2,403	6,310	-3,315	0	0	0