Kingold jewelry, inc. (KGJI)
CashFlow / Quarterly
Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'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 (loss) income

-24,004

12,589

6,380

9,500

13,247

13,563

13,234

10,477

28,987

8,033

-21,305

41,951

15,861

19,893

15,197

5,642

8,764

573

6,581

8,090

5,233

17,894

16,112

7,986

10,994

6,325

3,033

7,408

8,366

9,580

7,314

3,176

9,720

8,789

5,545

Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:
Depreciation

-

-

484

-

-

-

426

-

-

-

400

-

-

-

314

388

329

336

334

402

347

337

339

415

341

339

335

407

333

330

331

390

331

321

317

Amortization of intangible assets

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

3

3

3

-

-

3

3

6

0

3

3

3

2

2

2

2

3

2

2

Amortization of debt issuance costs included in interest expense

2,187

2,227

2,322

4,205

3,482

2,305

2,255

3,206

1,347

3,116

3,287

1,893

1,893

3,261

430

328

-164

326

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share based compensation for services and warrants expense

0

0

5

5

5

5

5

5

5

11

11

-184

77

76

75

113

102

102

212

1,310

612

612

612

398

375

510

247

130

379

311

356

547

62

72

122

Inventory valuation allowance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,337

2,978

-

6,301

0

0

-6,026

1,907

2,379

2,827

0

0

0

0

-

-

-

-

Deferred tax (benefit) provision

-14,327

-2,688

-1,533

240

2,699

479

1,345

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax provision (benefit)

-

-

-

-

-

-

-

-

1,962

-7,114

-2,287

-

-19,909

0

255

-

3,078

-985

-744

1,301

-1,575

-1

275

199

830

-594

-706

0

0

0

0

-

-

-

-

Changes in operating assets and liabilities
Accounts receivable

418

269

-459

271

226

1

-786

697

-74

-217

-355

-97

414

-466

-736

1,503

65

130

-503

489

-59

16

-473

245

274

-93

-606

313

-78

95

-533

694

-821

770

-959

Inventories

-86,967

60,981

89,285

115,965

9,835

-175,697

-155,338

-112,348

-84,510

235,690

-31,552

-46,307

21,355

12,187

-161,022

32,059

31,565

35,335

2,360

-9,846

12,274

-8,779

45,275

-1,850

7,059

18,835

-3,643

8,393

11,313

7,694

14,583

2,745

13,625

6,809

25,666

Other current assets and prepaid expenses

289

-311

515

-760

594

-450

608

-434

401

-541

-46

-4,298

-46

2,090

2,037

898

14

71

48

-56

-204

215

-8,147

-

-

-

-

-

-

-

-

-

-

-

-

Deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

488

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets and prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

881

63

-88

-181

255

61

-3

13

-61

Deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-666

Value added tax recoverable

-6,707

-12,756

11,687

6,600

-8,072

-39,536

-37,013

3,665

-10,020

2,151

64,399

152,625

45,230

43,286

28,871

1,995

4,463

5,439

-158

-1,594

-1,145

-848

1,628

-2,012

-2,326

3,638

-323

-719

-398

3,065

334

-826

-104

-1,065

2,695

Accrued expenses and other payables

-

-

491

-

-

-

63

-187

-732

7,210

-2,147

9,850

2,167

-1,573

-2,362

1,196

1,352

644

442

314

67

-630

-263

2,056

-481

630

-593

480

-118

404

-203

-

-

-

-

Customer deposits

-

-

-

-

-

-

-

185

0

0

0

-

-

-

-

-255

23,374

-687

687

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other payables and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-713

Income tax payable

-658

1,659

-1,213

16,837

-2,190

918

2,020

-3,007

2,507

5,218

0

-28,074

17,849

2,396

3,252

1,087

-1,468

-1,167

1,749

-2,407

-2,352

-735

3,222

-165

405

1,130

-779

-436

-561

894

1,239

-1,872

307

916

-167

Other taxes payable

2,301

14

-2,626

-252

436

361

-439

475

359

315

-192

-96

990

-0

0

-1,079

685

1,018

-652

80

0

701

-847

220

197

240

-493

183

158

156

-399

485

-22

1

-473

Net cash (used in) provided by operating activities

62,360

-35,543

-96,713

-95,681

15,100

234,805

211,445

119,800

111,482

-202,355

-54,677

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,565

126

-2,186

1,007

-5,998

-56

-2,773

3,363

-22,040

CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

37,440

148,016

-

-10,366

-32,987

9,357

13,810

-2,236

27,578

-18,828

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

2

261

62

-345

37

78

375

-310

410

634

506

1,201

-27

292

42

7

29

3

26

-153

22

80

69

24

9

24

20

0

0

147

1

304

3

21

39

Investments in gold

-

-

-

-

-

-

-

193,679

87,390

-151,227

422,116

968,190

293,536

289,930

361,816

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Construction costs related to Jewelry Park

-

-

-

-

-

-

-

-

-

-

-

-1,024

933

6,405

13,101

26,664

1,877

18,672

5,561

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-202,804

-261

-62

345

-37

-78

-375

-193,368

-87,800

150,593

-422,623

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20

-0

-0

-147

-1

-304

-3

-21

-39

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short term loans

-

-

238,565

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of short term loans

-

-

168,037

-

-

-

239,183

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash deposit for land use right-Jewelry Park

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,364

2,157

8,173

32,287

0

0

0

-

-

-

-

-

-

-

-

Cash payment in construction in progress-Jewelry Park

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,590

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-296,627

-374,960

-

-1,907

-18,675

-5,587

-20,911

-4,386

-2,238

-8,242

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from debt financing instruments private placement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from other loans short term

-

-

-

-

-

-

-

-

140,013

58

29,031

-

465,283

611,580

0

-

-

-

-

8

3,232

12,994

7,764

48,915

0

0

0

-

-

-

-

-

-

-

-

Repayments of other loans short term

-

-

-

-

-

-

-

-

74,341

72,725

145

-

45,685

3,060

6,115

-

3,171

13,060

0

21

7,677

31,352

17,980

6,457

0

0

0

-

-

-

-

-

-

-

-

Proceeds from long term loans

-

-

105,890

-

-

-

220,188

-

968

193

95,803

-

0

-319,547

319,547

-

-

-

0

1

-3

-14

3,689

28,619

0

0

0

-

-

-

-

-

-

-

-

Repayment of related party loans - short term

-2

223

0

-

-5,321

-366

235,915

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of other loans long term

-

-

-

-

-

-

-

-

880

72,783

29,031

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from related party loan - long term

168,696

127,809

10,076

-443,110

108,631

-520

335,000

2,152

2,936

6,393

284,507

-253

-2,170

152,933

0

0

0

0

0

91

19

70

64,901

-1,501

1,441

-30

90

-

0

0

0

-

-

-

-

Repayments of related party loans short term

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from related parties loans – long term

-

-

-

-

-

-

-

50,048

80,432

211,871

479,017

481,630

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of related party loans - long term

33,498

48,033

43,525

-

49,794

194,079

290,176

-

193,723

41,483

374,504

-

0

0

0

-

-

-

-

18

3

14

12,980

52,354

0

0

0

-

-

-

-

-

-

-

-

Repayment of loan origination fees

-24

-12

2,200

5,380

6,269

309

0

5,457

2,115

7

1,990

15,720

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

237,068

-65,561

-192,989

-15,555

1,072

-4,259

-9,980

-10

1,937

16,199

-7,442

-12,888

-8,216

-1,750

-18

-2,514

0

0

0

0

-

-

-

-

Borrowings from related party

42

268

196

381

164

315

485

474

-1,224

1,597

-5,586

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of debt financing instruments under private placement

-

-

-

-

-

-

-

-

-

-

-

-584

-385

15

61,157

64,928

373

-201

-65,099

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to related party

-

-

-

-

-

-

-

-

-

-

-

-

2,157

-2,407

250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

49

Net proceeds from stock issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,522

0

0

0

0

0

0

0

20,144

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

284,190

236,969

-

40,858

-16,888

65,089

2,010

6,489

-25,758

32,505

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

79,588

57,320

140,965

78,242

163

-236,376

-209,601

77,524

-48,115

4,024

477,101

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,097

961

0

0

0

5,788

77

-5,200

20,194

EFFECT OF EXCHANGE RATES ON CASH AND RESTRICTED CASH

-52,988

91,001

-38,694

1,151

-1,292

-164

-2,772

-

-

-

-

386

-1,149

-773

140

431

-468

-410

269

-132

-121

-278

-213

740

256

-58

85

-168

63

-65

144

147

389

143

-6

NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH

-

-

5,494

-

-

-

-1,304

-

-

-

-

-108,316

92,153

24,229

10,166

-26,513

28,115

-68,961

69,128

-5,223

-254

-696

5,220

-21,032

17,624

-14,579

17,728

918

-2,123

793

-5,855

5,575

-2,310

-1,714

-1,892

EFFECT OF EXCHANGE RATES ON CASH AND RESTRICTED CASH

-

-

-

-

-

-

-

-

886

825

906

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCREASE IN CASH AND RESTRICTED CASH

-

-

-

-

-

-

-

-

-23,547

-46,911

707

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest expense

39,160

45,055

41,921

43,048

38,372

38,569

43,192

36,243

35,905

28,986

27,688

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

15,174

3,951

-

1,167

1,251

1,332

3,947

3,781

2,065

4,345

1,208

594

1,087

1,553

115

125

111

117

319

1

35

84

Cash paid for income tax

7,139

3,390

6,974

1,796

3,978

3,250

1,236

7,821

5,270

0

0

24,939

1,031

10,549

1,111

244

1,539

1,725

978

3,392

5,725

6,450

3,266

3,422

2,996

1,845

2,598

3,049

3,578

2,679

1,450

3,283

3,046

2,051

2,192

Investments in gold obtained in a lease from a related party

-

-

-

-

-

-

-

972

1,631

0

131,117

124,587

218,853

81,208

138,287

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments in gold transferred to inventories

72,480

248,672

176,670

211,442

168,753

55,783

333,328

67,175

169,975

180,786

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories transferred to investments in gold

28,939

115,420

271,682

-

210,632

-11,571

303,391

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain (loss) on investments in gold, net of tax

209,005

183,487

-29,416

137,914

-18,935

-19,350

-18,622

-17,285

27,074

-54,046

102,907

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for operating lease obligations

-22

-20

226

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-