| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
Net income | ||||||
6,646 | 4,503 | 2,355 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Gain from disposal of property and equipment | ||||||
0 | 0 | 12 | ||||
Deferred tax benefit | ||||||
-194 | -44 | -45 | ||||
Depreciation and amortization | ||||||
1,566 | 1,361 | 1,257 | ||||
Bad debt provisions | ||||||
876 | 1,101 | 311 | ||||
Changes in operating assets: | ||||||
Accounts receivable | ||||||
3,174 | 7,451 | 5,353 | ||||
Advances to suppliers | ||||||
-198 | 1,761 | -1,206 | ||||
Inventories | ||||||
207 | -745 | -353 | ||||
Other assets | ||||||
320 | -6 | 15 | ||||
Changes in operating liabilities: | ||||||
Advances from customers | ||||||
-1,328 | 3,028 | -368 | ||||
Deferred revenue | ||||||
-19 | -20 | -21 | ||||
Accounts payable | ||||||
-2,113 | 231 | 1,809 | ||||
Billings in excess of costs and estimated earnings | ||||||
0 | -174 | 65 | ||||
Taxes payable | ||||||
853 | 2,078 | 420 | ||||
Accrued and other liabilities | ||||||
-248 | 333 | -105 | ||||
Net cash provided by operating activities | ||||||
2,534 | 3,937 | 1,858 | ||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
Proceeds from property and equipment disposal | ||||||
0 | 0 | 17 | ||||
Addition of property, equipment and construction in progress | ||||||
4,639 | 9,372 | 2,709 | ||||
Purchase of intangible assets | ||||||
0 | 1,681 | 0 | ||||
Deposit made for planned acquisition of minority interest | ||||||
0 | 565 | 0 | ||||
Acquisition of minority interest | ||||||
2,735 | 0 | 0 | ||||
Collection (payment) on project deposit | ||||||
0 | -2,317 | 2,471 | ||||
Net cash used in investing activities | ||||||
-7,374 | -9,301 | -5,163 | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
Proceeds from short-term bank loans | ||||||
9,767 | 7,597 | 0 | ||||
Deferred financing costs paid | ||||||
0 | 98 | 0 | ||||
Proceeds from long-term bank loans | ||||||
0 | 752 | 5,617 | ||||
Repayment of short-term bank loans | ||||||
8,244 | 6,772 | 4,250 | ||||
Repayment of long-term bank loans | ||||||
3,799 | 1,962 | 3,624 | ||||
Proceeds from (repayment of) bank notes, net | ||||||
-739 | 0 | 802 | ||||
Proceeds received from stock issuance for reorganization | ||||||
0 | 4,457 | 0 | ||||
Payments to original shareholders of Beijing REIT | ||||||
0 | 3,466 | 0 | ||||
Proceeds from investor loan | ||||||
0 | 3,200 | 0 | ||||
Gross proceeds from Initial Public Offering - stock issuance | ||||||
16,100 | 0 | 0 | ||||
Direct costs disbursed from Initial Public Offering proceeds | ||||||
1,829 | 0 | 0 | ||||
Proceeds from private placement sale of stock | ||||||
3,600 | 0 | 0 | ||||
Proceeds from (repayment of) related party loans, net | ||||||
-854 | 817 | 424 | ||||
Capital contribution from noncontrolling shareholders | ||||||
0 | 2,218 | 2,912 | ||||
Change in restricted cash, net | ||||||
-236 | 90 | 160 | ||||
Net cash provided by financing activities | ||||||
14,235 | 6,653 | 1,721 | ||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | ||||||
-128 | -227 | 85 | ||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||
9,268 | 1,061 | -1,498 | ||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||
Interest paid | ||||||
997 | 1,430 | 1,237 | ||||
Income tax paid | ||||||
1,903 | 719 | 34 | ||||
Non-Cash Financing Activities | ||||||
Conversion of investor loan to equity | ||||||
0 | 3,200 | 3,325 | ||||
Withdrawal of capital by original minority shareholder in REIT Changjiang | ||||||
0 | 0 | -3,325 | ||||