| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
115 | 1,009 | 466 | ||||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||
Depreciation and amortization expense | ||||||
364 | 256 | 266 | ||||
Bad debt provision | ||||||
18 | 0 | 0 | ||||
Deferred income tax liability | ||||||
-8 | -0 | 15 | ||||
Loss on disposal of property, plant and equipment | ||||||
-1 | 0 | -7 | ||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
971 | 609 | -336 | ||||
Accounts receivable - related party | ||||||
10 | 0 | 0 | ||||
Inventories | ||||||
2,658 | 3,316 | 2,136 | ||||
Due to related parties | ||||||
-5 | 0 | 0 | ||||
Advances to suppliers | ||||||
121 | -610 | 492 | ||||
Prepayments and other current assets | ||||||
-18 | 223 | -167 | ||||
Accounts payable | ||||||
1,174 | 1,321 | -482 | ||||
Accounts payable - related parties | ||||||
32 | 0 | 0 | ||||
Notes payable | ||||||
-127 | 284 | 32 | ||||
Taxes payable | ||||||
-115 | -85 | 139 | ||||
Advances from customers | ||||||
-601 | 513 | -92 | ||||
Advances from customers - related party | ||||||
7 | 0 | 0 | ||||
Other current liabilities | ||||||
-39 | -29 | 87 | ||||
Net cash used in operating activities | ||||||
-2,674 | -1,489 | -700 | ||||
Cash flows from investing activities | ||||||
Payments to acquire property, plant and equipment | ||||||
227 | 9 | 231 | ||||
Proceeds from disposal of property, plant and equipment | ||||||
2 | 0 | 0 | ||||
Payments to acquire land use rights | ||||||
103 | 0 | 0 | ||||
Loans to related parties | ||||||
-533 | -2,543 | -5,941 | ||||
Repayments from related parties | ||||||
15 | 3,400 | 5,790 | ||||
Change in restricted cash | ||||||
541 | -96 | -73 | ||||
Net cash provided by (used in) investing activities | ||||||
-1,388 | 944 | -309 | ||||
Cash flows from financing activities | ||||||
Proceeds from issuance of common shares | ||||||
5,542 | 3,759 | 0 | ||||
Collection of stock subscription receivable | ||||||
-827 | 0 | 0 | ||||
Capital distribution in connection with acquisition of a subsidiary | ||||||
0 | 2,880 | 0 | ||||
Proceeds from related parties | ||||||
1,073 | 3,503 | 971 | ||||
Repayments to related parties | ||||||
1,767 | 3,310 | 0 | ||||
Proceeds from short term loans | ||||||
2,077 | 1,806 | 3,243 | ||||
Repayments of short term loans | ||||||
2,494 | 1,806 | 2,713 | ||||
Net cash provided by financing activities | ||||||
5,258 | 1,071 | 1,501 | ||||
Effect of exchange rate changes on cash and cash equivalents | ||||||
5 | -33 | -29 | ||||
Net change in cash and cash equivalents | ||||||
1,201 | 493 | 461 | ||||
Supplemental cash flow information | ||||||
Interest paid | ||||||
82 | 102 | 117 | ||||
Income taxes paid | ||||||
59 | 102 | 103 | ||||
Non-cash investing and financial activities | ||||||
Operating expenses paid by related parties | ||||||
85 | 68 | 84 | ||||
Property, plant and equipment transferred from construction in progress | ||||||
0 | 34 | 44 | ||||
Liabilities assumed in connection with purchase of property, plant and equipment | ||||||
133 | 295 | 46 | ||||
Liabilities assumed in connection with acquisition of a subsidiary | ||||||
0 | 91 | 0 | ||||
Accounts payable settled with loans to related parties | ||||||
0 | 490 | 0 | ||||
Receivables from related parties settled with payables to related parties | ||||||
169 | 92 | 0 | ||||
Debt paid by the related party in lieu of repayment to the Company | ||||||
0 | 0 | 125 | ||||