| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
2,590 | 2,433 | 945 | ||||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||
Depreciation and amortization expense | ||||||
233 | 187 | 86 | ||||
Bad debt expense | ||||||
229 | 76 | 39 | ||||
Deferred income taxes | ||||||
-312 | -82 | -106 | ||||
Loss on disposal of property, plant and equipment | ||||||
0 | 0 | -6 | ||||
Gain on disposal of subsidiary | ||||||
0 | 0 | 0 | ||||
Changes in assets and liabilities: | ||||||
Accounts receivable | ||||||
3,345 | 1,410 | 1,411 | ||||
Accounts receivable from related parties | ||||||
-1,090 | -3,645 | 3,754 | ||||
Notes receivable | ||||||
-70 | 56 | -64 | ||||
Inventories | ||||||
4,923 | 2,743 | 1,890 | ||||
Deferred cost of revenue | ||||||
2,453 | 0 | 0 | ||||
Advances to suppliers and other current assets | ||||||
412 | 2,289 | 540 | ||||
Advances to supplier - related party | ||||||
0 | 0 | -793 | ||||
Due from related parties | ||||||
-0 | -75 | 1 | ||||
Other non-current assets | ||||||
-4 | -22 | -132 | ||||
Accounts payable and bank acceptance notes to vendors | ||||||
2,825 | 1,079 | 582 | ||||
Accounts payable to related party | ||||||
0 | -2,140 | 1,159 | ||||
Deferred income | ||||||
-26 | -30 | 61 | ||||
Advances from customers | ||||||
499 | 425 | -42 | ||||
Due to related parties | ||||||
5 | -28 | -68 | ||||
Income tax payables | ||||||
144 | -181 | 550 | ||||
Accrued expenses and other payables | ||||||
589 | 352 | 437 | ||||
Net cash used in operating activities | ||||||
-3,189 | -663 | -2,958 | ||||
Cash flows from investing activities | ||||||
Purchase of land use rights | ||||||
0 | 2,261 | 0 | ||||
Purchase of property, plant and equipment | ||||||
1,482 | 66 | 1,218 | ||||
Proceeds from disposal of property, plant and equipment | ||||||
0 | 0 | 9 | ||||
Advances to third parties | ||||||
-1,236 | -301 | -40 | ||||
Repayments from third parties | ||||||
1,236 | 338 | 0 | ||||
Advances to related parties | ||||||
0 | -239 | -353 | ||||
Repayments from related parties | ||||||
2 | 473 | 20 | ||||
Net change in restricted cash | ||||||
5,712 | 922 | 621 | ||||
Cash received in connection with disposal of subsidiary | ||||||
0 | 1 | 0 | ||||
Net cash used in investing activities | ||||||
-7,191 | -2,980 | -2,203 | ||||
Cash flows from financing activities | ||||||
Proceeds from issuances of common shares | ||||||
7,111 | 5,323 | 0 | ||||
Capital contribution from shareholders | ||||||
0 | 198 | 2,212 | ||||
Capital distribution in connection with acquisition of a subsidiary | ||||||
0 | 4,418 | 0 | ||||
Borrowings from related parties | ||||||
0 | 2,558 | 478 | ||||
Repayment to related parties | ||||||
739 | 1,982 | 799 | ||||
Proceeds from loans due within one year | ||||||
8,805 | 11,613 | 4,013 | ||||
Repayment of loans | ||||||
3,283 | 8,142 | 642 | ||||
Net cash provided by financing activities | ||||||
11,893 | 5,150 | 5,263 | ||||
Effect of foreign exchange rate changes on cash and cash equivalents | ||||||
121 | -156 | -3 | ||||
Net increase in cash and cash equivalents | ||||||
1,633 | 1,349 | 98 | ||||
Supplemental cash flow information | ||||||
Cash paid for interest | ||||||
244 | 307 | 8 | ||||
Cash paid for income taxes | ||||||
656 | 812 | 9 | ||||
Non-cash investing and financing activities: | ||||||
Stock issued for debt conversion | ||||||
0 | 3,847 | 0 | ||||
Properties acquired with loans | ||||||
206 | 0 | 0 | ||||
Liabilities assumed in connection with purchase of property, plant and equipment | ||||||
7,445 | 0 | 0 | ||||