| Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 |
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net loss | ||||||
-16,011 | - | - | - | - | - | - |
Net loss attributable to Origin Agritech Limited | ||||||
- | -9,820 | -2,170 | -1,550 | 1,202 | -226 | -3,630 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
4,172 | 4,675 | 4,802 | 4,636 | 4,581 | 3,082 | 3,668 |
Loss on disposal of plant and equipment | ||||||
-49 | -38 | -24 | -153 | 723 | -221 | -984 |
Gain on disposal of a land use right | ||||||
- | - | - | 0 | 0 | 130 | - |
Loss on liquidation of a subsidiary | ||||||
- | - | - | 0 | 0 | -286 | - |
Loss on disposal of subsidiaries and assets | ||||||
-495 | 0 | 0 | -427 | 0 | 0 | -2,137 |
Loss on disposal of an equity method investment | ||||||
- | 0 | 0 | -244 | 0 | 0 | 0 |
Change in the fair value of embedded derivatives | ||||||
- | - | - | - | - | - | 0 |
Allowance for doubtful account | ||||||
0 | 36 | 0 | 2 | 872 | 637 | 294 |
Recovery on receivables | ||||||
107 | - | - | - | - | - | - |
Impairment on plant and equipment | ||||||
3,898 | - | - | - | - | - | - |
Provision for inventories | ||||||
2,838 | 3,070 | 1,724 | 3,574 | 6,272 | 4,329 | 2,042 |
Non-cash interest expense (interest accretion) | ||||||
486 | - | - | - | - | - | - |
Shares issued upon sign off of Equity Purchase Agreement (note 19) | ||||||
157 | - | - | - | - | - | - |
Loss on repurchase of convertible note | ||||||
- | - | - | - | - | - | 0 |
Interest expense and amortization of discount on convertible notes | ||||||
- | - | - | - | - | - | 0 |
Deferred income tax assets | ||||||
- | - | 0 | 0 | 282 | 201 | 1,060 |
Non-controlling interests | ||||||
- | -1,685 | -630 | -100 | 292 | -213 | 1,620 |
Share-based compensation expense | ||||||
814 | 1,317 | 253 | 215 | 308 | 525 | 730 |
Share of net loss of equity method investments | ||||||
- | 0 | 0 | -126 | 828 | 636 | 254 |
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-5 | -197 | 162 | -149 | 39 | 708 | -245 |
Due from related parties | ||||||
0 | 0 | -424 | -114 | 214 | -489 | 12 |
Advances to growers | ||||||
2,308 | -131 | -6 | 6,130 | 4,834 | -1,509 | -5,969 |
Advances to suppliers | ||||||
-19 | 467 | 1,142 | -1,298 | -4 | 728 | -1,327 |
Inventories | ||||||
3,244 | -7,633 | -10,350 | 10,979 | 36,895 | 16,122 | -2,388 |
Income tax recoverable | ||||||
-7 | 0 | 0 | -181 | -162 | 1 | -93 |
Other current assets | ||||||
626 | -6 | 67 | -296 | -1,557 | -7,672 | -1 |
Other assets | ||||||
288 | -65 | -146 | -1,178 | -510 | -2,270 | 474 |
Accounts payable | ||||||
620 | -2 | -21 | -11 | -72 | -112 | -507 |
Due to growers | ||||||
3,181 | 388 | -95 | -3,240 | 5,460 | -574 | -5,388 |
Due to related parties | ||||||
9,327 | 8,730 | 4,806 | 1,655 | -202 | 164 | 155 |
Advances from customers | ||||||
-23,717 | -8,342 | -9,447 | -7,627 | -10,324 | 5,853 | 7,732 |
Income tax payable | ||||||
0 | -6 | 6 | -6,349 | 0 | 0 | 647 |
Deferred revenues | ||||||
-1,056 | -635 | -1,223 | -494 | -191 | 541 | -519 |
Other long-term liabilities | ||||||
10 | 1,134 | 46 | -224 | -127 | 3,439 | -1,102 |
Other payables and accrued expenses | ||||||
-1,405 | 39 | -1,698 | -1,130 | -482 | 2,838 | 1,280 |
Net cash provided by (used in) operating activities | ||||||
-18,106 | - | - | - | -23,769 | 13,044 | 5,894 |
Investing activities: | ||||||
Net cash provided by (used in) operating activities | ||||||
- | 7,174 | 8,204 | -13,921 | - | - | - |
Proceeds from disposal of equity investment | ||||||
- | 0 | 0 | 146 | - | 0 | 0 |
Dividends received | ||||||
- | 0 | 0 | - | - | - | - |
Proceeds from disposal of a subsidiary, net of cash disposed | ||||||
- | 0 | 0 | - | - | - | - |
Proceeds from disposal of commercial seed business, net of cash disposed (note 4) | ||||||
4,997 | 1,497 | - | - | - | - | - |
Dividends received | ||||||
- | - | - | 488 | 439 | 331 | 388 |
Proceeds from disposal of a subsidiary, net of cash disposed | ||||||
- | - | - | -1,947 | 0 | 0 | 10,697 |
Purchase of plant and equipment | ||||||
395 | 2,353 | 2,318 | 1,707 | 10,284 | 16,435 | 8,864 |
Additional capital injection to an equity investment | ||||||
- | - | - | - | 0 | 0 | 95 |
Proceeds from disposal of land use right | ||||||
- | - | - | 0 | 0 | 180 | - |
Proceeds from disposal of plant and equipment | ||||||
40 | 72 | 27 | 1,004 | 1,281 | 867 | 0 |
Deposits for purchase of acquired technology and land use rights | ||||||
- | - | 0 | 0 | 940 | 0 | 201 |
Deposits for purchase of plant and equipment | ||||||
- | - | 0 | 0 | 890 | 6,919 | 1,805 |
Business acquisition, net of cash acquired | ||||||
- | - | - | - | - | 0 | 0 |
Purchase of land use rights | ||||||
191 | 0 | 141 | 109 | 298 | 68 | - |
Purchase of intangible assets | ||||||
0 | 187 | 768 | 1,859 | 405 | 568 | 3,021 |
Net cash used in investing activities | ||||||
- | -971 | -3,200 | -90 | - | - | - |
Net cash provided by (used in) by investing activities | ||||||
4,451 | - | - | - | -11,097 | -22,612 | -24,295 |
Financing activities: | ||||||
Restricted cash | ||||||
-3,191 | 135 | 725 | 215 | 2,334 | - | - |
Restricted bank deposits | ||||||
- | - | - | - | - | 0 | 0 |
Proceeds from short-term borrowings | ||||||
2,260 | 29,201 | 36,942 | 49,574 | 44,567 | 16,559 | 3,147 |
Proceeds from issuance of convertible promissory note | ||||||
1,300 | - | - | - | - | - | - |
Repayment of third party loans | ||||||
- | - | - | - | - | - | 0 |
Repurchase of common stock | ||||||
- | 0 | 0 | 290 | 1,022 | 0 | 0 |
Acquisition of additional equity interest from non-controlling shareholders | ||||||
- | - | - | - | - | 0 | 0 |
Capital injection from a non-controlling shareholder | ||||||
- | - | - | 0 | 0 | 4,636 | 3,084 |
Net cash provided by (used in) financing activities | ||||||
- | -7,310 | -1,488 | 64 | - | - | - |
Dividends paid to non-controlling shareholders | ||||||
- | - | - | - | 0 | 0 | 1,902 |
Proceeds from exercise of stock options | ||||||
82 | - | - | - | 0 | 0 | 418 |
Proceeds from issuance of treasury stocks | ||||||
921 | - | - | - | - | - | - |
Repayment of short-term borrowings | ||||||
13,561 | 33,694 | 37,728 | 46,323 | 16,103 | 14,193 | 13,517 |
Proceeds from long-term borrowings | ||||||
18,081 | 911 | 5,337 | 0 | 6,070 | 6,150 | - |
Repayment of long-term borrowings | ||||||
5,191 | 3,593 | 5,314 | 2,682 | - | - | - |
Net cash provided by (used in) financing activities | ||||||
7,083 | - | - | - | 31,178 | 13,152 | -8,770 |
Net increase (decrease) in cash and cash equivalents | ||||||
-6,572 | -1,107 | 3,516 | -13,947 | -3,688 | 3,584 | -27,171 |
Effect of exchange rate changes on cash and cash equivalents | ||||||
-1,152 | -618 | -410 | 16 | 303 | 19 | 463 |
Supplemental disclosures of cash flow information: | ||||||
Refund of income taxes | ||||||
- | 0 | 0 | 95 | - | - | - |
Income taxes paid | ||||||
193 | 215 | 198 | 24 | 278 | 93 | 1,100 |
Interest paid, net of interest capitalized | ||||||
2,183 | - | - | - | - | - | - |
Interest paid, net of interest capitalized | ||||||
- | 2,134 | 2,932 | 3,209 | 1,842 | 635 | 231 |
Supplemental disclosure of non-cash financing activities: | ||||||
Issuance of commitment shares related to notes payable | ||||||
278 | - | - | - | - | - | - |
Disposal of assets in lieu of payment for liabilities | ||||||
- | - | - | 0 | 0 | 286 | - |
Proceeds from disposal of equity investment | ||||||
- | 0 | 0 | 146 | - | - | - |
Other current assets to be received from liquidation of a subsidiary | ||||||
- | - | - | - | 0 | 0 | 7,118 |