Vipshop holdings ltd (VIPS)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10
Cash flows from operating activities:
Net income

290,863

287,018

232,906

122,789

52,299

-9,472

-107,271

-8,365

Adjustments to reconcile net income to net cash by operating activities:
Provision for allowance for doubtful accounts

20,113

9,589

1,835

671

-31

-

-

49

Write-offs for doubtful debts

-

1,272

-

-

-

-

-

-

Prepaid expenses write-down

-

-

-

-

343

222

-

-

Inventory write-down

31,774

43,674

45,377

35,585

33,883

12,166

1,694

2,601

Depreciation of property and equipment

110,791

87,999

44,985

17,945

8,838

4,527

1,368

103

Amortization of intangible assets

52,382

52,424

44,713

40,328

-

-

-

-

Amortization of land use rights

8,537

5,424

430

-

-

-

-

-

Impairment loss on intangible assets

-

-

-

2,724

-

-

-

-

Amortization of other assets

-

-

-

-

229

4

4

0

Losses (gains) on disposal of property and equipment and other assets

641

-1,512

-261

-31

-52

-20

-61

-31

Impairment loss of property and equipment

-

-

-

-

-

-

437

-

Share-based compensation expenses

102,531

68,508

46,766

36,790

12,456

7,596

73,927

-

Share of loss of affiliates

-3,424

-10,297

-12,977

-10,232

-

-

-

-

Impairment loss of investments

20,446

16,502

15,398

-

-

-

-

-

Impairment loss of other investment

-

-

-

1,006

-

-

-

-

Interest income on held-to-maturity investments

2,603

4,588

20,536

19,278

4,256

1,026

-

-

Amortization of debt issuance costs

914

5,160

5,164

4,303

-

-

-

-

Gain on disposal of an available-for-sale investment

8,548

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

408,198

281,060

43,096

21,941

-3,791

2,866

2,777

935

Amounts due from related parties

283

-4,357

133

4,994

-177

-1,924

2,101

-

Other receivables and prepayments

194,435

46,548

168,898

64,912

6,512

583

8,764

649

Inventories

344,346

98,663

196,415

337,003

160,045

86,388

64,028

8,471

Advances to suppliers

-

-

-

-8

3,789

-2,859

7,652

4,696

Prepaid expenses

-

-

-

850

1,697

-390

1,020

57

Prepayment of operating lease

-

-

-

13,214

-

-

-

-

Deposit related to acquisition of land use right

-

-

-

7,168

-

-

-

-

Deferred tax assets

10,804

1,457

-4,808

26,450

-

-

-

-

Accounts payable

494,493

223,736

99,319

448,569

283,392

105,435

79,716

7,247

Advances from customers

-53,416

99,439

90,405

97,553

75,833

40,567

13,072

2,117

Accrued expenses and other current liabilities

44,698

-43,962

82,945

179,536

143,651

26,009

23,025

3,195

Amounts due to related parties

1,889

-26,866

20,251

3,026

805

-168

-856

1,164

Deferred income

4,081

8,000

-13,412

9,651

8,788

10,347

2,472

93

Deferred tax liability

12,845

11,415

10,412

-9,279

11,126

-

-

-

Net cash generated from operating activities

150,816

407,808

295,638

505,660

437,081

111,569

1,306

-6,573

Cash flows from investing activities:
Purchases of property and equipment

337,792

283,400

337,032

256,027

22,248

12,379

9,592

1,519

Purchases of land use rights

42,391

28,754

18,256

-

-

-

-

-

Government subsidies received for land use rights

18,109

34,577

3,018

-

-

-

-

-

Deposits paid for acquisition of land use rights

-

89,042

289,227

-

-

-

-

-

Proceed from disposal of property and equipment and other assets

1,428

1,928

31

-

682

19

3

-

Purchases of other assets

133

738

1,449

4,668

5,293

0

9

3

Purchases of held-to-maturity investments

54,409

311,824

855,229

1,018,196

615,243

101,302

-

-

Redemption of held-to-maturity investments upon maturities

122,455

479,978

-

-

-

-

-

-

Proceed from redemption of held-to-maturity securities upon maturities

-

-

1,178,481

809,201

321,208

16,231

-

-

Investment in affiliates and other investments

2,580

8,401

80,837

74,773

-

-

-

-

Acquisition of subsidiaries, net of cash acquired of RMB30,303, RMB19,490 and RMB174 in 2015, 2016 and 2017, respectively

723

15,321

6,051

112,500

-

-

-

-

Purchases of available-for-sale investments

-

14,016

38,123

-

-

-

-

-

Deposits for investment in affiliates and other investments

36,887

-

7,410

6,527

-

-

-

-

Disposal of an available-for-sale investment

42,927

-

-

-

-

-

-

-

Cash paid for loan originations

29,043

-

-

-

-

-

-

-

Cash received from loan repayments

7,093

-

-

-

-

-

-

-

Other investing activities

461

-

-

-

-

-

-

-

Net cash used in investing activities

-312,407

-240,386

-453,443

-664,227

-320,894

-83,216

-23,813

-1,522

Increase in entrusted loan to an investee

-

-

-

671

-

-

-

-

Loan to the employees

-

6,669

1,421

-

-

-

-

-

Withdrawal of deposit for other investment

-

1,296

-

-

-

-

-

-

(Increase) decrease in restricted cash

-

-

-62

64

-

-14,214

14,214

-

Cash flows from financing activities:
Proceeds from registered capital contributions by shareholders of the VIE

-

-

-

-

-

-

1,390

-

Proceeds from bank and other borrowings

139,912

432

103,347

169,872

-

-

17,477

-

Repayment of bank and other borrowings

461

14,115

88,682

169,872

-

12,710

4,766

-

Capital contributions from non-controlling interests

-

199

1,504

1,214

-

-

-

-

Acquisition of non-controlling interests

3,974

16,079

-

-

-

-

-

-

Partial redemption of convertible senior notes

3,335

-

-

-

-

-

-

-

Loans from shareholders

-

-

-

-

-

-

1,470

9,137

Issuance costs of Series A and Series B Preferred shares

-

-

-

-

-

-

175

-

Issuance costs of ordinary shares

-

-

-

-

-

-

1,499

0

Repurchase of ordinary shares

-

27,887

100,373

-

-

-

1,837

-

Proceeds from issuance of securitization debt

116,810

-

-

-

-

-

-

-

Other capital contributions

-

-

-

689

-

-

-

-

Proceed from issuance of convertible notes

-

-

-

618,268

-

-

-

-

Issuance cost of convertible notes offering

-

-

-

1,078

-

-

-

-

Proceeds from issuance of ordinary shares to new investors

862,293

-

-

-

90,348

62,689

-

-

Proceeds from issuance of ordinary shares upon exercise of stock options

917

829

976

1,786

2,049

191

-

-

Deferred settlement of acquisition of subsidiaries

9,989

-

-

-

-

-

-

-

Other financing activities

-192

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

1,101,981

-56,621

-83,228

620,881

92,397

50,170

66,785

9,137

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-929

2,293

14,664

-24,900

1,657

994

-435

-217

Net (decrease) increase in cash, cash equivalents and restricted cash

939,461

113,094

-226,369

437,413

210,242

79,517

43,843

823

Supplemental disclosures of cash flow information:
Interest paid, net of amount capitalized

12,670

12,271

13,241

-

-

-

-

-

Income tax paid

145,845

90,902

68,946

-

-

-

-

-

Supplemental disclosure of non-cash investing and financing activities:
Payables incurred for purchase of property and equipment

1,533

39,176

21,254

-

-

-

-

-

Payables for acquisition of subsidiaries

-

10,709

-

-

-

-

-

-