| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
21,854 | 286,878 | 132,807 | 117,041 | 31,301 | -247,799 | 43,427 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||||||
Change in fair value of derivative liability _ rate cap | ||||||
-2,477 | -1,492 | - | - | - | - | - |
Change in fair value of derivative liability _ warrant liability | ||||||
0 | -5,032 | 323 | - | - | - | - |
Change in fair value of forward contracts (Note 27) | ||||||
- | - | - | - | - | - | -3,873 |
Change in fair value of convertible senior notes (Note 27) | ||||||
- | - | - | - | - | - | -63,240 |
Change in fair value of capped call options (Note 27) | ||||||
- | - | - | - | - | - | 15,615 |
Share-based compensation charge | ||||||
9,970 | 29,276 | 17,400 | 6,880 | 2,972 | 2,783 | 1,569 |
Convertible senior notes issuance cost | ||||||
- | 0 | 0 | 4,198 | - | - | - |
Write off of prepayment for property, plant and equipment | ||||||
- | - | - | 0 | 0 | 7,093 | - |
Gain on disposal of investment in a subsidiary | ||||||
- | - | 0 | 0 | 198 | 0 | - |
Property, plant and equipment impairment | ||||||
- | - | 0 | 1,002 | 590 | 10,509 | - |
Goodwill impairment | ||||||
- | - | - | - | 0 | 0 | 7,252 |
Equity (Gain)/Loss of affiliated companies | ||||||
- | 2,198 | 2,110 | 1,539 | -4,231 | -2 | - |
Deferred income taxes | ||||||
-1,153 | 3,175 | -1,011 | -27,521 | 150 | -83 | 668 |
Depreciation of property, plant and equipment | ||||||
92,301 | 64,680 | 60,693 | 56,091 | 54,233 | 51,869 | 41,920 |
Depreciation of project assets | ||||||
475 | 47,272 | 35,347 | 13,811 | 4,511 | 825 | - |
Amortization of land use rights | ||||||
1,373 | 1,137 | 972 | 1,109 | 1,100 | 1,050 | 883 |
Amortization of intangible assets | ||||||
535 | 461 | 343 | 183 | 157 | 122 | 35 |
Amortization for guarantee liability | ||||||
-10,134 | -1,388 | - | - | - | - | - |
Inventories provision | ||||||
48,216 | 63,229 | 15,250 | 12,238 | 27,046 | 53,343 | 32,040 |
Provision/(reversal of provision) for allowance of doubtful accounts | ||||||
-17,201 | 11,907 | -8,391 | 4,376 | -30,872 | 79,280 | 28,502 |
Provision/(reversal of provision) for other receivables | ||||||
0 | -1,680 | 3,384 | - | - | - | - |
Provision for notes receivable | ||||||
- | - | 0 | 0 | 2,973 | 0 | - |
Provision for advance to suppliers | ||||||
0 | 115 | 0 | 434 | 0 | 36,447 | 103 |
Loss/(Gain) on disposal of property, plant and equipment | ||||||
12,666 | -4,763 | -1,460 | -3,063 | -1,674 | -812 | -395 |
Amortization of deferred losses related to sales leaseback transactions | ||||||
2,261 | - | - | - | - | - | - |
Gain on disposal of land use right | ||||||
0 | 536 | - | - | - | - | - |
Loss on disposal of intangible assets | ||||||
-297 | -166 | -94 | - | - | - | - |
Impairment of long-lived assets | ||||||
0 | 18,079 | - | - | - | - | - |
Equity in income of affiliated companies | ||||||
-315 | - | - | - | - | - | - |
Gain on disposal of investment in Jiangxi Jinko Engineering | ||||||
0 | 145,165 | - | - | - | - | - |
Gain on disposal of investment in subsidiaries-others | ||||||
39 | 722 | - | - | - | - | - |
Investment income | ||||||
0 | 706 | - | - | - | - | - |
Exchange loss/(gain), net | ||||||
-17,574 | - | - | - | - | - | - |
Amortization of deferred financing cost | ||||||
- | - | - | 0 | 0 | 40 | 79 |
Contingent liability | ||||||
- | - | - | - | - | 0 | - |
Exchange (gain)/loss, net | ||||||
- | 30,075 | -18,174 | -23,701 | -6,354 | -5,854 | -22,083 |
Changes in operating assets and liabilities (net of impact of disposition): | ||||||
(Increase)/decrease in accounts receivable - third parties | ||||||
-34,769 | 411,804 | 9,812 | 262,359 | -29,630 | 144,133 | 212,952 |
(Increase)/decrease in accounts receivable - related parties | ||||||
107,427 | 26,045 | -17,530 | -17,665 | 29,504 | - | - |
(Increase)/decrease in notes receivable - third parties | ||||||
-27,881 | 61,371 | 67,941 | -29,315 | 44,823 | -2,545 | 2,745 |
Decrease in notes receivable - related parties | ||||||
0 | -20,308 | 0 | -6,914 | 7,086 | - | - |
Increase in advances to suppliers - third parties | ||||||
11,432 | 11,867 | 26,131 | 2,155 | 1,081 | -19,717 | -23,933 |
Decrease in advances to suppliers - related party | ||||||
-101 | -51 | -25 | 190 | - | - | - |
Increase in inventories | ||||||
17,556 | 288,210 | 217,816 | 202,278 | 57,451 | 9,987 | 28,634 |
Decrease in other receivables - related parties | ||||||
-8,434 | -24,282 | -25 | -8 | -929 | 826 | 46 |
Increase in prepayments and other current assets | ||||||
106,946 | 1,097 | 8,171 | 49,920 | 27,795 | -63,405 | 72,909 |
Increase in other assets-third parties | ||||||
196 | 26,275 | 46,960 | 42,186 | 2,574 | 9,241 | 4,979 |
Increase in other assets-related parties | ||||||
0 | 24,971 | - | - | - | - | - |
Increase in accounts payable - third parties | ||||||
59,997 | 127,482 | 91,385 | 222,580 | 68,216 | 159,120 | 3,981 |
Increase/ (decrease) in accounts payable - related parties | ||||||
819 | -12,910 | 0 | -159 | -4,555 | - | - |
Increase in accrued payroll and welfare expenses | ||||||
21,379 | 20,534 | 25,188 | 11,890 | 5,326 | 4,773 | 12,677 |
Increase/(decrease) in advances from - third parties | ||||||
-95,618 | 24,600 | 134,835 | 44,438 | 4,386 | -1,577 | -12,333 |
Increase/(decrease) in advances from - related parties | ||||||
-3,556 | 8,719 | - | - | - | - | - |
Increase/(decrease) in income tax payables | ||||||
-21,568 | 9,019 | 4,670 | 9,696 | 2,580 | -5,277 | -9,424 |
Increase in accrued income tax - non - current | ||||||
928 | - | - | - | - | - | - |
Increase/(decrease) in other payables and accruals - third parties | ||||||
35,410 | -1,392 | 31,067 | 38,832 | 29,901 | 10,594 | 41,411 |
Increase/(decrease) in other payables and accruals - related parties | ||||||
-9,790 | 7,326 | -398 | 695 | - | - | - |
Deferred government grants related to assets | ||||||
- | 0 | 0 | 14,898 | 10,461 | - | - |
Net cash provided by/(used in) operating activities | ||||||
-27,218 | -259,681 | 206,713 | 30,149 | 103,257 | 114,966 | -126,810 |
Decrease in guarantee liabilities | ||||||
- | - | - | 0 | 0 | -240 | - |
Cash flows from investing activities: | ||||||
Maturity of restricted short-term investments | ||||||
907,030 | 329,713 | 382,922 | 207,694 | - | - | - |
Maturity of short-term investments | ||||||
40,001 | 6,529 | 17,637 | 21,355 | 285,381 | - | - |
Cash received from third party for disposal of investment in subsidiaries | ||||||
- | - | 0 | 0 | 330 | - | - |
Proceeds from disposal of property, plant and equipment | ||||||
7,591 | 1,296 | 1,102 | 2,604 | 261 | 7,249 | 36 |
Proceeds from disposal of land use right | ||||||
1,321 | 5,198 | 0 | 0 | 64 | - | - |
Cash received from call spread | ||||||
0 | 2,440 | - | - | - | - | - |
Cash disposed of, net of cash received from related party, for disposal of Jiangxi Jinko Engineering | ||||||
0 | 87,296 | - | - | - | - | - |
Cash received from disposal of JinkoSolar Thailand | ||||||
365 | - | - | - | - | - | - |
(Increase)/ decrease in restricted cash | ||||||
7,861 | -25,834 | 18,556 | 21,826 | 40,767 | 5,657 | -25,412 |
Purchase of property, plant and equipment | ||||||
334,824 | 284,511 | 132,854 | 78,970 | 76,522 | 19,474 | 320,217 |
Cash paid for project assets | ||||||
-59,373 | -281,791 | -328,701 | -404,808 | -87,470 | -18,755 | - |
Cash paid for deposits related to construction of solar projects | ||||||
0 | 23,328 | 541 | - | - | - | - |
Cash paid for investment in affiliates | ||||||
2,594 | - | - | - | - | - | - |
Refund of deposit for acquisition of subsidiaries | ||||||
0 | - | - | - | - | - | - |
(Payment)/collection of deposit for acquisition of subsidiaries | ||||||
- | 0 | -1,543 | - | - | - | - |
Payment of deposit for acquisition of subsidiaries | ||||||
- | - | - | 1,611 | - | - | - |
Cash paid for land use rights | ||||||
4,190 | 15,407 | 6,816 | 1,511 | 2,032 | 1 | 18,428 |
Purchase of intangible assets | ||||||
1,669 | 1,076 | 2,078 | 747 | 237 | 558 | 465 |
Purchase of restricted short-term investments | ||||||
892,325 | 642,681 | 407,663 | 347,140 | - | - | - |
Purchase of short-term investments | ||||||
29,455 | 23,989 | 4,889 | 39,406 | 287,302 | 223,343 | 73,008 |
Cash paid for investments in affiliates | ||||||
- | - | 0 | 0 | 13,875 | 5,649 | - |
Cash paid for call spread | ||||||
0 | 685 | 1,180 | - | - | 0 | 18,590 |
Cash disposed of, net of cash received from third parties, for disposal of investment in subsidiaries | ||||||
0 | 15,369 | - | - | - | - | - |
Proceeds from redemption of short-term investments | ||||||
- | - | - | - | - | 186,707 | - |
Cash acquired, net of cash paid to third parties, for the acquisition of subsidiaries | ||||||
0 | -10,025 | 11,614 | 20,798 | 743 | 896 | - |
Cash collected for disposal of Zhejiang Leasing | ||||||
2,008 | - | - | - | - | - | - |
Net cash used in investing activities | ||||||
-373,974 | -995,100 | -511,691 | -670,269 | -212,452 | -80,379 | -386,671 |
Cash flows from financing activities: | ||||||
Cash received from borrowings from sales lease back | ||||||
92,218 | - | - | - | - | - | - |
Repayment of borrowings from sales lease back | ||||||
-25,862 | - | - | - | - | - | - |
Proceeds from redeemable preferred shares issuance by subsidiary | ||||||
- | 0 | 0 | 222,941 | - | - | - |
Proceeds from exercise of share options | ||||||
10,747 | 3,129 | 1,175 | 2,341 | 2,899 | 0 | 597 |
Issuance cost paid for issuance of convertible senior notes | ||||||
- | 0 | 0 | 4,198 | - | - | - |
Proceeds from issuance of Bonds | ||||||
45,786 | - | 0 | 0 | 132,150 | 48,153 | 158,883 |
Payment of deposit for lease | ||||||
9,978 | - | - | - | - | - | - |
Proceeds from issuance of ordinary shares | ||||||
- | 0 | 0 | 124,133 | 68,223 | 0 | - |
Proceeds from issuance of convertible senior notes | ||||||
- | 0 | 0 | 147,447 | 0 | 0 | 129,097 |
Cash received from borrowings with embedded warrants | ||||||
0 | 0 | 133,091 | - | - | - | - |
Capital contributions by non-controlling interests holders | ||||||
- | 0 | 0 | 1,418 | 0 | 16 | 1,588 |
Repayment of capital lease obligation | ||||||
- | - | - | - | - | 0 | - |
Proceeds from bank borrowings | ||||||
2,810,869 | 3,050,967 | 1,565,398 | 841,402 | 561,530 | 588,206 | 948,841 |
Repayment of bank borrowings | ||||||
2,590,035 | 1,922,180 | 1,085,344 | 642,173 | 573,060 | 577,930 | 781,021 |
Increase in notes payable | ||||||
134,597 | 356,878 | 9,465 | 167,690 | 10,548 | 38,411 | 53,751 |
Repurchase of convertible senior notes | ||||||
64,987 | 175,530 | 17,448 | - | 0 | 0 | 829 |
Repayment of borrowings with embedded warrants | ||||||
0 | 130,051 | - | - | - | - | - |
Repurchase of warrant | ||||||
0 | 5,141 | - | - | - | - | - |
Repayment of bonds payable | ||||||
0 | 115,223 | 0 | 0 | 49,556 | 160,511 | - |
Change in restricted cash for notes payable | ||||||
-79,092 | 10,904 | -11,903 | -6,201 | -13,798 | 4,151 | 17,584 |
Repurchase of common stock | ||||||
- | - | - | - | 0 | 0 | 9,033 |
Cash paid for capped call options | ||||||
- | - | - | - | 0 | - | - |
Prepayment for share repurchase | ||||||
- | - | - | - | 0 | 0 | - |
Net cash provided by financing activities | ||||||
324,263 | 1,073,752 | 594,435 | 854,800 | 138,936 | -59,502 | 500,869 |
Effect of foreign exchange rate changes on cash and cash equivalents | ||||||
-11,156 | 10,750 | 4,878 | -1,782 | -512 | 81 | -1,266 |
Net increase/(decrease) in cash and cash equivalents | ||||||
-88,086 | -170,278 | 294,335 | 212,897 | 29,229 | -24,834 | -13,879 |
Cash balance recorded in held-for-sale assets | ||||||
0 | 185,953 | - | - | - | - | - |
Supplemental disclosure of cash flow information | ||||||
Cash paid for income tax | ||||||
29,122 | 36,029 | 17,762 | 5,643 | 264 | 4,245 | 22,340 |
Cash paid for interest expenses (net of amounts capitalized) | ||||||
43,644 | 96,575 | 63,608 | 32,428 | 24,062 | 35,820 | 32,100 |
Supplemental disclosure of non-cash investing and financing cash flow information | ||||||
Purchases of property, plant and equipment included in other payables | ||||||
121,961 | 55,509 | 47,754 | 15,156 | 34,552 | 40,678 | 49,556 |
Purchases of project assets included in other payables | ||||||
11,959 | 304,902 | 183,011 | 114,650 | 46,748 | 29,634 | - |
Settlement of accounts receivable through receipt of convertible notes | ||||||
- | - | 0 | 0 | 4,100 | - | - |
Utilization of prior years prepayment for the repurchase of convertible senior notes | ||||||
0 | 0 | 3,932 | 0 | 0 | 886 | - |
Proceeds from exercise of share options received in subsequent period | ||||||
6,184 | 883 | 1,576 | 36 | 209 | 25 | - |
Other receivables related to disposition of subsidiaries - related parties | ||||||
4 | - | - | - | - | - | - |
Other receivables related to disposition of subsidiaries - third party | ||||||
26,118 | - | - | - | - | - | - |
Other receivables related to disposal of property, plant and equipment - third party | ||||||
17,137 | - | - | - | - | - | - |
Payment of issuance cost for follow-on offering in subsequent period | ||||||
- | 0 | 0 | 375 | 210 | - | - |
Non cash contribution from non-controlling shareholders | ||||||
- | 0 | 0 | 838 | - | - | - |
Conversion of Redeemable Convertible Preferred Shares into ordinary shares upon the Company's IPO | ||||||
- | - | - | - | - | 0 | - |