Wins Finance Holdings (WINS) annual cash flow statement covering fiscal 2015 through 2018, as reported to the SEC.
Net Cash Provided by Operating Activities has shrunk 40.7% a year on average since fiscal 2015, from $31.18M to $6.5M.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Jun'18 | Jun'17 | Jun'16 | Jun'15 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||||||
Net income | |||||||||||||||||||
10,499 | 20,349 | 12,117 | 26,072 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 10,499 | 20,349 | 12,117 | 26,072 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||||||||||
Depreciation | |||||||||||||||||||
395 | 320 | 411 | 257 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation | 395 | 320 | 411 | 257 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Impairment loss on short-term investments | |||||||||||||||||||
1,272 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Impairment loss on short-term investments | 1,272 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Share-based compensation | |||||||||||||||||||
- | -1,465 | 1,889 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Share-based compensation | - | -1,465 | 1,889 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest expense for convertible debt | |||||||||||||||||||
- | - | 113 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest expense for convertible debt | - | - | 113 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for lease payment receivables | |||||||||||||||||||
3,108 | 27 | 597 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for lease payment receivables | 3,108 | 27 | 597 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for lease payment receivables | |||||||||||||||||||
- | - | - | 70 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for lease payment receivables | - | - | - | 70 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax (benefit) expense | |||||||||||||||||||
-1,546 | 370 | -622 | -515 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax (benefit) expense | -1,546 | 370 | -622 | -515 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision (reversal of provision) for guarantee | |||||||||||||||||||
1,982 | -3,208 | 2,907 | -576 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision (reversal of provision) for guarantee | 1,982 | -3,208 | 2,907 | -576 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for guarantee paid on behalf of guarantee service customers | |||||||||||||||||||
-2,896 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for guarantee paid on behalf of guarantee service customers | -2,896 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in assets and liabilities: | |||||||||||||||||||
Net investment in direct financing leases | |||||||||||||||||||
-3,925 | 3,638 | 53,059 | 2,594 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net investment in direct financing leases | -3,925 | 3,638 | 53,059 | 2,594 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commission receivable | |||||||||||||||||||
504 | - | - | -5,538 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commission receivable | 504 | - | - | -5,538 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Guarantee paid on behalf of guarantee service customers | |||||||||||||||||||
1,379 | -1,313 | 2,432 | 109 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Guarantee paid on behalf of guarantee service customers | 1,379 | -1,313 | 2,432 | 109 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unearned income from financial guarantee services | |||||||||||||||||||
-470 | 122 | -3,036 | -3,946 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unearned income from financial guarantee services | -470 | 122 | -3,036 | -3,946 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest receivable | |||||||||||||||||||
12,016 | 2,443 | 783 | -1,247 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest receivable | 12,016 | 2,443 | 783 | -1,247 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||
-145 | 546 | 330 | -2,657 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | -145 | 546 | 330 | -2,657 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Lease receivables in lease agency transactions | |||||||||||||||||||
- | - | - | -475 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Lease receivables in lease agency transactions | - | - | - | -475 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Lease payables in lease agency transactions | |||||||||||||||||||
- | - | - | -466 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Lease payables in lease agency transactions | - | - | - | -466 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest payable | |||||||||||||||||||
-106 | 17 | 168 | 49 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest payable | -106 | 17 | 168 | 49 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax payable | |||||||||||||||||||
-410 | 314 | -324 | 2,613 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax payable | -410 | 314 | -324 | 2,613 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deposits from direct financing leases | |||||||||||||||||||
-1,983 | 1,719 | 6,096 | 441 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deposits from direct financing leases | -1,983 | 1,719 | 6,096 | 441 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other liabilities | |||||||||||||||||||
692 | -52 | 676 | -38 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other liabilities | 692 | -52 | 676 | -38 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net Cash Provided by (Used in) Operating Activities | |||||||||||||||||||
6,501 | 13,201 | -35,611 | 31,180 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net Cash Provided by (Used in) Operating Activities | 6,501 | 13,201 | -35,611 | 31,180 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||
Purchase of short-term investments | |||||||||||||||||||
50,728 | 73,395 | 23,873 | 183,299 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of short-term investments | 50,728 | 73,395 | 23,873 | 183,299 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from maturities of short-term investments | |||||||||||||||||||
64,102 | 32,294 | 44,287 | 143,380 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from maturities of short-term investments | 64,102 | 32,294 | 44,287 | 143,380 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deposits paid to banks for financial guarantee services | |||||||||||||||||||
18,874 | 19,753 | 24,152 | 27,934 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deposits paid to banks for financial guarantee services | 18,874 | 19,753 | 24,152 | 27,934 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deposits released from banks for financial guarantee services | |||||||||||||||||||
-20,686 | -22,815 | -26,642 | -15,859 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deposits released from banks for financial guarantee services | -20,686 | -22,815 | -26,642 | -15,859 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Placement of pledged bank deposits | |||||||||||||||||||
- | 4,403 | 4,661 | 426 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Placement of pledged bank deposits | - | 4,403 | 4,661 | 426 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Withdrawal of pledged bank deposits | |||||||||||||||||||
- | 4,403 | 406 | 412 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Withdrawal of pledged bank deposits | - | 4,403 | 406 | 412 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchase of property, plant and equipment | |||||||||||||||||||
1 | 79 | 418 | 251 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of property, plant and equipment | 1 | 79 | 418 | 251 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Consideration received on disposal of WHL (Note 1) | |||||||||||||||||||
- | 270 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Consideration received on disposal of WHL (Note 1) | - | 270 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loan repaid by owners | |||||||||||||||||||
- | - | - | 47,619 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loan repaid by owners | - | - | - | 47,619 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loan lent to owners | |||||||||||||||||||
- | - | - | 21,568 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loan lent to owners | - | - | - | 21,568 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net Cash Provided by (Used in) Investing Activities | |||||||||||||||||||
15,183 | -37,849 | 18,229 | -26,208 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net Cash Provided by (Used in) Investing Activities | 15,183 | -37,849 | 18,229 | -26,208 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||||||||
Capital paid in by owners | |||||||||||||||||||
- | - | 29,669 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Capital paid in by owners | - | - | 29,669 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from loans | |||||||||||||||||||
- | 11,751 | 46,618 | 509 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from loans | - | 11,751 | 46,618 | 509 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of loans | |||||||||||||||||||
-20,578 | -16,311 | -2,476 | -611 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of loans | -20,578 | -16,311 | -2,476 | -611 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds of convertible debt | |||||||||||||||||||
- | - | 8,500 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds of convertible debt | - | - | 8,500 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of convertible debt | |||||||||||||||||||
- | - | 8,613 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of convertible debt | - | - | 8,613 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of share repurchase | |||||||||||||||||||
- | - | 17,060 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of share repurchase | - | - | 17,060 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from short term loans | |||||||||||||||||||
- | - | - | 25,580 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from short term loans | - | - | - | 25,580 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of short term loans | |||||||||||||||||||
- | - | - | 25,580 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of short term loans | - | - | - | 25,580 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loan repaid to owners | |||||||||||||||||||
- | - | - | 420 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loan repaid to owners | - | - | - | 420 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loan borrowed from owners | |||||||||||||||||||
- | - | - | 40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loan borrowed from owners | - | - | - | 40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net Cash (Used in) Provided by Financing Activities | |||||||||||||||||||
-20,578 | -4,559 | 56,637 | -481 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net Cash (Used in) Provided by Financing Activities | -20,578 | -4,559 | 56,637 | -481 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
EFFECT OF FOREIGN CURRENCY TRANSLATION ON CASH | |||||||||||||||||||
387 | -953 | -1,973 | 62 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
EFFECT OF FOREIGN CURRENCY TRANSLATION ON CASH | 387 | -953 | -1,973 | 62 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
NET INCREASE (DECREASE) IN CASH | |||||||||||||||||||
1,494 | -30,161 | 37,280 | 4,553 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
NET INCREASE (DECREASE) IN CASH | 1,494 | -30,161 | 37,280 | 4,553 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||||||||||||||||
Cash paid for income taxes | |||||||||||||||||||
918 | 1,267 | 1,535 | 1,049 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for income taxes | 918 | 1,267 | 1,535 | 1,049 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for interest expense | |||||||||||||||||||
1,512 | 2,076 | 356 | 138 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for interest expense | 1,512 | 2,076 | 356 | 138 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||