| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
3,013 | 4,607 | 8,926 | 14,716 | 10,085 | ||
Net (income) loss from discontinued operations | ||||||
30 | -2,313 | 1,889 | - | - | ||
Net income from continuing operations | ||||||
2,982 | 6,921 | 7,037 | - | - | ||
Adjustments to reconcile net income to net cash provided by (used in) operating activities from continuing operations: | ||||||
Allowance for doubtful accounts - accounts receivable | ||||||
2,632 | 239 | 949 | -1,343 | 290 | ||
Allowance for doubtful accounts - advance to suppliers | ||||||
-45 | 927 | -47 | 194 | -319 | ||
Allowance for doubtful accounts - loan to third parties | ||||||
-16 | 59 | 0 | -27 | 229 | ||
Inventory reserve (recovery) | ||||||
13 | -84 | 156 | -43 | 43 | ||
Depreciation expense | ||||||
613 | 534 | 546 | 1,290 | 986 | ||
Decrease (increase) in deferred tax asset | ||||||
- | - | - | 329 | -109 | ||
Amortization of intangible asset | ||||||
201 | 39 | 9 | 216 | 41 | ||
Gain from disposal of property, plant and equipment | ||||||
0 | 0 | -197 | -9 | 48 | ||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
1,378 | 3,192 | 212 | 13,868 | 7,856 | ||
Advances to suppliers | ||||||
-4,127 | 11,438 | 5,762 | -515 | 6,409 | ||
Inventory | ||||||
-845 | 97 | -20 | -42 | -270 | ||
Other receivables | ||||||
812 | 11 | 49 | -50 | -340 | ||
Government rebate receivable | ||||||
2,942 | 0 | 0 | - | - | ||
Accounts payable | ||||||
-955 | -965 | -486 | 602 | 140 | ||
Accrued liabilities and other payables | ||||||
-1,450 | 346 | 728 | - | - | ||
Customer deposits | ||||||
-377 | 244 | 76 | -638 | -156 | ||
Taxes payable | ||||||
-2,102 | 87 | -1,516 | 431 | 496 | ||
Decrease (increase) in deferred tax liability | ||||||
0 | -98 | 0 | - | - | ||
Accrued liabilities and other payables | ||||||
- | - | - | -16 | 30 | ||
Net cash provided (used in) by continuing operations | ||||||
1,335 | -6,488 | 1,646 | 2,460 | -1,947 | ||
Net cash provided by (used in) discontinued operating activities | ||||||
968 | -544 | 2,803 | - | - | ||
Net cash provided by (used in) operating activities | ||||||
2,304 | -7,033 | 4,450 | - | - | ||
Cash flows from investing activities | ||||||
Acquisition of property, plant and equipment | ||||||
82 | 10 | 242 | 1,594 | 413 | ||
Proceeds from disposal of property, plant and equipment | ||||||
0 | 0 | 32 | 9 | 66 | ||
Payment for business acquisition | ||||||
4,552 | 3,372 | 8,030 | - | - | ||
Cash acquired from business acquisition | ||||||
-35 | 0 | 0 | 0 | - | ||
Additions to intangible assets | ||||||
- | - | - | - | 774 | ||
Loans to related parties | ||||||
- | - | - | - | 9,258 | ||
Loans to third parties | ||||||
- | - | - | 1,753 | -145 | ||
Changes in deposit for asset acquisition | ||||||
-443 | -1,505 | -1,085 | -364 | 4,033 | ||
Net cash used in investing activities from continuing operations | ||||||
-4,155 | -1,877 | -7,153 | 533 | 3,957 | ||
Net cash provided by investing activities from discontinued operations | ||||||
662 | 0 | - | - | - | ||
Net cash used in investing activities | ||||||
-3,493 | -1,877 | -7,153 | - | - | ||
Cash flows from financing activities | ||||||
Changes in restricted cash | ||||||
-3,392 | -343 | 3,533 | 0 | - | ||
Proceeds from third party loan | ||||||
0 | 885 | 0 | - | - | ||
Repayment of loans from third party | ||||||
187 | 0 | 0 | 38 | 168 | ||
Proceeds from Bankers acceptance notes payable | ||||||
6,893 | 4,818 | 2,248 | 14,325 | 20,032 | ||
Repayments of Bankers acceptance notes payable | ||||||
1,995 | 3,011 | 9,314 | 14,325 | 20,032 | ||
Proceeds from bank loans | ||||||
10,093 | 7,001 | 12,012 | 2,189 | 2,097 | ||
Repayments of bank loans | ||||||
11,957 | 8,251 | 5,299 | 6,259 | 2,097 | ||
Due from related parties | ||||||
477 | 0 | 0 | 119 | 826 | ||
Proceeds from issuance of common stocks | ||||||
5,968 | 7,957 | 5,663 | 0 | - | ||
Net cash provided by financing activities from continuing operations | ||||||
4,943 | 9,056 | 8,843 | -4,228 | -994 | ||
Net cash provided by financing activities from discontinued operations | ||||||
0 | 0 | 0 | - | - | ||
Net cash provided by financing activities | ||||||
4,943 | 9,056 | 8,843 | - | - | ||
Effect of exchange rate changes on cash and cash equivalents | ||||||
243 | -476 | -281 | -9 | 25 | ||
Net increase (decrease) in cash and cash equivalents | ||||||
3,998 | -330 | 5,858 | -1,243 | 1,041 | ||
Supplemental disclosure information: | ||||||
Income taxes paid | ||||||
1,156 | 696 | 2,892 | 2,245 | 1,687 | ||
Interest paid | ||||||
479 | 261 | 411 | 534 | 836 | ||
Supplemental non-cash activities: | ||||||
Common shares issued for Minority interest buyback | ||||||
0 | 2,160 | 0 | - | - | ||
Common shares issued for acquisition of E-Motors | ||||||
6,500 | 0 | 0 | - | - | ||
Net book value of assets and liabilities of E-Motors acquired | ||||||
11,122 | 0 | 0 | - | - | ||
Offset loans to related parties against borrowing from shareholder | ||||||
- | - | - | - | 6,071 | ||
Offset loans to related parties against dividend payable | ||||||
- | - | - | - | 444 | ||