XML 59 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flow from operating activities    
Net (loss) profit $ 22,559,994 $ (58,124,808)
Income from discontinued operations, net of tax (48,928,143) 0
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 8,251,510 15,059,133
Reversal of doubtful debts (639,390) (5,087,650)
Write-down of inventories 8,752,543 38,084,761
Impairment charge 0 14,603,998
Loss arising from loan guarantee 0 2,002,089
Share-based compensation 87,606 297,729
Deferred income taxes 0 5,755,399
Exchange difference 375,127 1,063,155
Changes in operating assets and liabilities:    
Trade accounts receivable (13,992,484) 31,045,373
Inventories 7,163,543 (32,050,027)
Prepayments and other receivables (8,768,517) 1,257,546
Accounts and bills payable (22,626,190) (1,122,102)
Accrued expenses and other payables 24,964,173 30,622,819
Deferred revenue (245,887) (256,149)
Net cash provided by (used in) continuing operations (23,046,115) 43,151,266
Net cash provided by discontinued operations 3,615,638 0
Net cash provided by (used in) operating activities (19,430,477) 43,151,266
Cash flow from investing activities    
Disposal of subsidiaries, net of cash disposed of $4,163,555 (4,163,555) 0
Decrease (increase) in pledged deposits 7,990,705 (7,592,656)
Payment of guaranteed loans 0 (7,485,991)
Repayment of guaranteed loans 0 5,483,903
Purchases of property, plant and equipment (8,456,929) (25,379,443)
Purchases of intangible assets (15,825) (370,066)
Net cash (used in) provided by continuing operations (4,645,604) (35,344,253)
Net cash (used in) provided by discontinued operations (3,296,571) (6,657,910)
Net cash used in investing activities (7,942,175) (42,002,163)
Cash flow from financing activities    
Proceeds from borrowings 91,614,488 148,398,191
Repayment of borrowings (178,695,284) (165,022,657)
Borrowings from related parties 0 8,546,133
Repayment to related parties 0 (8,747,771)
Borrowings from unrelated parties 121,232,353 8,802,650
Repayment of borrowings from unrelated parties (20,554,868) 0
Proceeds from long-term loans 0 7,537,453
Net cash (used in) provided by financing activities 13,596,689 (486,001)
Effect of exchange rate changes on cash and cash equivalents 49,452 467,153
Net increase (decrease) in cash and cash equivalents (13,726,511) 1,130,255
Cash and cash equivalents at the beginning of period 13,998,626 9,271,633
Cash and cash equivalents at the end of period 272,115 10,401,888
Supplemental disclosure of cash flow information:    
Bills receivable discounted to banks 913,517 38,072,936
Income taxes 0 0
Interest, net of amounts capitalized $ 8,688,340 $ 7,527,458