XML 124 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed consolidated statements of cash flows (USD $)
 9 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flow from operating activities    
Net loss $ (58,124,808) $ (45,043,863)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 15,059,133 15,536,491
Provision for/ (reversal of) doubtful debts (5,087,650) 11,782,482
Write-down of inventories 38,084,761 4,362,279
Impairment charge 14,603,998 6,324,194
Loss arising from loan guarantee 2,002,089 0
Share-based compensation 297,729 655,942
Deferred income taxes 5,755,399 2,110,627
Exchange difference 1,063,155 118,724
Changes in operating assets and liabilities:    
Trade accounts receivable 31,045,373 (12,021,707)
Inventories (32,050,027) 3,014,196
Prepayments and other receivables 1,257,546 (8,972,938)
Accounts and bills payable (1,122,102) 12,496,257
Accrued expenses and other payables 30,622,819 22,210,043
Deferred revenue (256,149) (189,571)
Net cash provided by operating activities 43,151,266 12,383,156
Cash flow from investing activities    
Decrease (increase) in pledged deposits (7,592,656) 1,091,537
Payment of guaranteed loans (7,485,991) 0
Repayment of guaranteed loans 5,483,903 0
Purchases of property, plant and equipment (32,037,353) (15,432,488)
Purchases of intangible assets (370,066) (463,779)
Net cash used in investing activities (42,002,163) (14,804,730)
Cash flow from financing activities    
Proceeds from bank borrowings 148,398,191 128,209,636
Repayment of bank borrowings (165,022,657) (137,490,044)
Borrowings from related parties 8,546,133 0
Repayment to related parties (8,747,771) 0
Borrowings from unrelated parties 8,802,650 0
Proceeds from other long-term loans 7,537,453 0
Net cash used in financing activities (486,001) (9,280,408)
Effect of exchange rate changes on cash and cash equivalents 467,153 (80,116)
Net (decrease) increase in cash and cash equivalents 1,130,255 (11,782,098)
Cash and cash equivalents at the beginning of period 9,271,633 24,858,239
Cash and cash equivalents at the end of period 10,401,888 13,076,141
Supplemental disclosure of cash flow information:    
Bills receivable discounted to banks 38,072,936 17,805,099
Cash paid during the period for:    
Income taxes 0 0
Interest, net of amounts capitalized $ 7,527,458 $ 8,311,649