| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||
Net income/(loss) | ||||||||
34,457 | -34,698 | -5,075 | -33,633 | -258,919 | -242,562 | 331 | 168,996 | -71,903 |
Less: (Income)/loss from discontinued operations, net of tax | ||||||||
31,257 | -34,792 | -25,288 | - | - | - | - | - | - |
Net income from continuing operations | ||||||||
3,199 | 94 | 20,213 | - | - | - | - | - | - |
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities | ||||||||
Impairment of long-lived assets | ||||||||
- | - | - | 0 | 202,756 | 6,437 | - | - | - |
Equity in loss of investee | ||||||||
- | - | - | - | - | - | - | - | -290 |
Inventory write-down | ||||||||
- | - | - | 808 | 740 | 59,313 | 48,992 | 1,165 | 71,252 |
Impairment of Intangible assets | ||||||||
- | - | - | - | - | 3,764 | - | - | - |
Impairment of goodwill | ||||||||
- | - | - | - | - | 6,160 | 0 | - | - |
Gain from settlement of advances from supplier | ||||||||
- | - | - | - | - | - | - | - | 554 |
Other-than-temporary impairment loss on available-for-sale investment | ||||||||
- | - | - | - | - | - | 6,207 | - | 13,366 |
Depreciation | ||||||||
4,475 | 2,400 | 3,548 | 90,223 | 112,894 | 93,501 | 82,730 | 56,353 | 32,745 |
Amortization of deferred convertible notes issuance costs and premium | ||||||||
0 | 32 | 764 | 933 | 784 | 784 | 881 | 332 | 3,510 |
Allowance of doubtful receivables, advance to suppliers and prepayment for purchases of property, plant and equipment | ||||||||
- | - | - | 5,710 | 3,658 | 852 | -1,374 | 3,919 | 9,872 |
Losses on derivatives | ||||||||
0 | -0 | -7,971 | 6,057 | 633 | -53 | -15,296 | 6,268 | - |
Share-based compensation | ||||||||
870 | 746 | 1,527 | 2,240 | 1,626 | 2,221 | 4,359 | 3,934 | 3,296 |
Deferred tax provision for continuing operations | ||||||||
88 | -151 | -57 | - | - | - | - | - | - |
Losses (gains) on disposal of long-lived assets | ||||||||
- | - | - | 1,486 | 631 | 935 | 558 | 1,254 | 12 |
Gains on early extinguishment of debt | ||||||||
- | - | - | - | - | - | 28,349 | 5 | 7,995 |
Customer advance forfeited | ||||||||
- | - | - | - | 34,706 | 0 | - | - | - |
Provision(reversal) for litigation | ||||||||
- | - | - | - | -4,017 | 2,046 | - | - | - |
Gain on disposal of subsidiaries | ||||||||
- | - | - | - | - | - | -193 | - | - |
Reversal for firm purchase commitment | ||||||||
- | - | - | - | - | -3,930 | 3,940 | - | - |
Gain on disposal of land use right | ||||||||
- | - | - | 64 | 4,693 | 0 | - | - | - |
Fair value change of warrant liability | ||||||||
0 | -577 | -1,312 | -7,455 | -3,202 | 0 | - | - | - |
Gain from settlement of certain payable | ||||||||
- | - | - | 0 | 0 | - | - | - | - |
Gains on repurchase of convertible notes | ||||||||
0 | 212 | 13,693 | 7,048 | 0 | 0 | - | - | - |
Gains on disposal of solar project | ||||||||
0 | 2,526 | 0 | 8,253 | - | - | - | - | - |
Gain on disposal of subsidiaries | ||||||||
- | - | - | - | 0 | 0 | - | - | - |
Changes in working capital, excluding impact of dispositions: | ||||||||
Accounts receivable | ||||||||
22,371 | 301 | 716 | -27,669 | 18,563 | 98,241 | 79,455 | -26,886 | 62,658 |
Project assets and deferred project costs | ||||||||
30,731 | 35,788 | 4,993 | - | - | - | - | - | - |
Contract costs | ||||||||
12,192 | 0 | 0 | - | - | - | - | - | - |
Notes receivable | ||||||||
- | - | - | -17,940 | 6,798 | - | - | - | - |
Inventories | ||||||||
- | - | - | 19,210 | 97,019 | 157,339 | 24,250 | 28,433 | 1,721 |
Advances to suppliers | ||||||||
-3,864 | -7,383 | 11,609 | 8,237 | -10,145 | -4,473 | -7,195 | 32,383 | -23,888 |
Amounts due to related parties | ||||||||
14,353 | 0 | 0 | - | - | - | - | - | - |
Amounts due to/from related parties | ||||||||
- | - | - | 1,508 | - | -9,377 | 887 | -63 | 11,807 |
Amounts due to/from related parties | ||||||||
- | - | - | - | -476 | - | - | - | - |
Value added tax recoverable | ||||||||
9,052 | -3,244 | -1,789 | 2,370 | 7,841 | -7,233 | -4,274 | -9,276 | 33,376 |
Prepaid expenses and other current assets | ||||||||
8,625 | 313 | -1,939 | -40,319 | -9,726 | 4,774 | 954 | 11,130 | -5,041 |
Prepaid land use right | ||||||||
- | - | - | -512 | -8,207 | -766 | 5,055 | 301 | -439 |
Accounts payable | ||||||||
24,452 | -2,432 | 2,562 | -174,893 | 156,692 | 243,304 | 4,559 | 121,462 | 38,022 |
Advances from customers | ||||||||
-282 | 83 | -48 | -15,231 | 67,651 | -33,633 | -27,024 | -1,362 | -23,220 |
Income tax payables | ||||||||
284 | 0 | 0 | -3,795 | 2,869 | 3,658 | -16,303 | 9,555 | 152 |
Salary payable | ||||||||
560 | 0 | 0 | - | - | - | - | - | - |
Other current liabilities | ||||||||
-1,802 | 7,559 | -1,226 | 9,224 | 3,877 | 3,920 | -13,293 | 18,933 | 1,429 |
Deferred project revenue | ||||||||
-13,878 | 0 | 32,376 | 0 | 0 | - | - | - | - |
Other non-current assets | ||||||||
-103 | 3,250 | 0 | 158 | 0 | 0 | - | - | - |
Other long-term liabilities | ||||||||
- | - | - | -2,874 | -8,689 | -983 | 4,680 | -138 | -472 |
Warranty | ||||||||
- | - | - | 8,043 | 9,842 | - | - | - | - |
Accrued warranty expense | ||||||||
- | - | - | - | - | -2,617 | 3,614 | 5,260 | 561 |
Deferred tax assets | ||||||||
- | - | - | 2,151 | 3,832 | -22,441 | 14,758 | -44,325 | 43,850 |
Project assets and deferred project costs | ||||||||
- | - | - | 33,856 | 25,100 | - | - | - | - |
Project assets | ||||||||
- | - | - | - | - | 21,895 | - | - | - |
Net cash provided by (used in) operating activities | ||||||||
-46,684 | -24,007 | 39,034 | -121,688 | 118,561 | -94,731 | -22,058 | 403,170 | -53,677 |
Net cash provided by (used in) operating activities from discontinued operation | ||||||||
65,114 | 51,541 | -36,825 | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||
18,430 | 27,533 | 2,209 | - | - | - | - | - | - |
Investing activities: | ||||||||
Purchase of property, plant and equipment | ||||||||
80,314 | 0 | 0 | 51,813 | 90,139 | 113,533 | 132,826 | 137,714 | 358,084 |
Advances for purchases of property, plant and equipment | ||||||||
- | - | - | 2,699 | 36,098 | 22,886 | 19,892 | 6,816 | -132,290 |
Purchases of other long-lived assets | ||||||||
- | - | - | - | - | - | 239 | -1,186 | 1,411 |
Cash received from government subsidy | ||||||||
- | - | - | 12,218 | 16,819 | 1,458 | 5,296 | 2,407 | 5,959 |
Cash received from government subsidy | ||||||||
- | - | - | - | - | - | 1,835 | 11,474 | - |
Proceeds from disposal of property, plant and equipment | ||||||||
- | - | - | 93 | 442 | 187 | 155 | 149 | - |
Proceeds from disposal of power stations | ||||||||
0 | 3,190 | 0 | 18,679 | 0 | 0 | - | - | - |
Lending to related parties | ||||||||
1,624 | 0 | 0 | - | - | - | - | - | - |
Repayment of lending by related parties | ||||||||
2,000 | 0 | 0 | - | - | - | - | - | - |
Purchase of investment securities | ||||||||
- | - | - | - | - | -759 | - | - | -634 |
Changes in restricted cash | ||||||||
0 | 0 | -1,887 | -134,584 | 80,916 | 114,452 | 22,454 | 7,323 | 18,958 |
Increase in investments | ||||||||
- | - | - | 0 | 0 | - | 6,331 | 3,160 | - |
Net cash paid on settlement of derivatives | ||||||||
0 | 0 | 6,293 | -4,397 | - | - | - | - | - |
Net cash received (paid) on settlement of derivatives | ||||||||
- | - | - | - | -290 | -768 | 1,172 | - | 16,831 |
Net cash provided by (used in) investing activities | ||||||||
-79,938 | 3,190 | -4,406 | 115,460 | -189,602 | -249,218 | -177,466 | -151,270 | -257,669 |
Net cash provided by (used in) investing activities from discontinued operations (including cash from discontinued operation of $13,774,473 disposed of) | ||||||||
-76,415 | 38,969 | -35,621 | - | - | - | - | - | - |
Net cash provided by (used in) investing activities | ||||||||
-156,353 | 42,159 | -40,027 | - | - | - | - | - | - |
Financing activities: | ||||||||
Proceed from bank borrowings | ||||||||
6,101 | 0 | 0 | 1,063,769 | 1,452,032 | 1,115,846 | 898,775 | 665,007 | 767,191 |
Repayment of bank borrowings | ||||||||
0 | 1,128 | 1,239 | 1,045,904 | 1,450,351 | 1,056,351 | 735,173 | 708,249 | 445,677 |
Cash paid for issuance costs | ||||||||
- | - | - | - | 4,551 | 0 | 7,154 | - | - |
Issuance cost refund | ||||||||
- | - | - | - | - | 8 | - | - | - |
Cash paid for share issuance cost | ||||||||
- | - | - | - | - | - | - | - | 5,265 |
Proceeds from exercise of stock options | ||||||||
0 | 0 | 640 | 993 | 477 | 0 | 148 | 3,144 | - |
Repurchase of convertible notes | ||||||||
0 | 25,931 | 54,376 | 9,809 | 0 | 0 | 57,055 | 32,715 | 84,121 |
Proceeds from issuance of convertible notes | ||||||||
- | - | - | - | - | - | 200,000 | - | - |
Proceeds from issuance of common shares and detachable warrant | ||||||||
- | - | - | - | 70,050 | 0 | - | - | 73,625 |
Purchase of capped call transaction | ||||||||
- | - | - | - | - | - | 23,840 | - | - |
Contribution (repurchase) from noncontrolling interests | ||||||||
- | - | - | - | - | 403 | 157 | - | - |
Repurchase from non-controlling interests | ||||||||
- | - | - | - | 36 | - | - | - | - |
Cash paid for common shares repurchase | ||||||||
0 | 1,493 | 812 | 0 | 0 | - | 1,943 | - | - |
Borrowings from related parties | ||||||||
11,343 | 0 | 0 | 4,000 | 0 | 0 | - | - | - |
Repayment of borrowings from related parties | ||||||||
2,041 | 0 | 0 | 0 | 0 | - | - | - | - |
Repayment of capital lease obligation | ||||||||
976 | 0 | 0 | - | - | - | - | - | - |
Proceeds from failed sale-lease back agreements | ||||||||
38,722 | 0 | 0 | - | - | - | - | - | - |
Repayment of failed sale-lease back financing | ||||||||
251 | 0 | 0 | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
52,897 | -28,553 | -55,787 | 13,048 | 67,620 | 59,907 | 273,913 | -72,813 | 305,753 |
Net cash provided by (used in) financing activities from discontinued operation | ||||||||
49,505 | -33,820 | 44,629 | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||
102,403 | -62,373 | -11,157 | - | - | - | - | - | - |
Effect of exchange rate changes | ||||||||
11,612 | -8,028 | -12,826 | 6,254 | -3,089 | -1,713 | 13,948 | 4,807 | 67 |
Net increase (decrease) in cash and cash equivalents | ||||||||
-23,907 | -708 | -61,802 | 13,074 | -6,510 | - | - | - | - |
Net decrease in cash and cash equivalents | ||||||||
- | - | - | - | - | -285,755 | 88,337 | 183,893 | -5,525 |
Prepayment settled with equity interest | ||||||||
- | - | - | - | - | - | - | - | 19,019 |
Banknotes, included in notes receivable, used to purchase equipment | ||||||||
- | - | - | 13,321 | 18,238 | 12,229 | 37,704 | - | - |
Supplemental disclosure of cash flow information | ||||||||
Interest paid, net of capitalized interest | ||||||||
3,936 | 2,973 | 2,919 | 42,309 | 52,566 | 55,147 | 38,742 | 23,856 | - |
Interest paid, net of interest capitalized | ||||||||
- | - | - | - | - | - | - | - | 12,049 |
Income tax paid | ||||||||
42 | 79 | 0 | 5,866 | -1,343 | -5,895 | 28,049 | 2,890 | -552 |
Non-cash investing and financing transactions | ||||||||
Project assets reclassified to property, plant and equipment, net | ||||||||
- | - | - | 27,127 | - | - | - | - | - |
Increases in payables for purchase of property, plant and equipment | ||||||||
- | - | - | 45,377 | 16,672 | 0 | - | - | - |
Payables for purchase of property, plant and equipment | ||||||||
25,562 | 2,051 | 0 | - | 12,932 | 44,761 | 84,832 | 49,088 | 51,214 |
Payable for capital lease | ||||||||
28,783 | 0 | 0 | - | - | - | - | - | - |
Issuance of ordinary shares for the disposal of discontinued business | ||||||||
0 | 0 | 0 | - | - | - | - | - | - |