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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Dec. 31, 2017
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Loss before taxation ¥ (9,445) ¥ (418,465) ¥ (78,285)
Adjustments for      
Amortization of land use rights 0 108 143
Operating lease charge (12,187) 0 0
Depreciation of property, plant and equipment 12 11,500 15,371
Amortization of prepaid expenses 2,677 0 0
Gain on disposal of property, plant and equipment 0 0 (70)
Write down of inventories (reversal of inventory provision) (56,766) 55,973 (2,733)
Bad debt provision of trade receivables     71,565
Loss from assets devaluation 0 85,021 36,683
Share based compensation 627 619 294
Interest expense 315 0 206
Operating cash flows before working capital changes 18,268 51,194 43,174
Decrease in inventories 18,817 8,347 23,808
Increase in trade receivables (21,570) (23,309) (50,384)
Decrease (Increase) in other receivables and prepayments (40) (2,521) 12,058
Decrease in trade payables (1,753) (36,755) (23,173)
Increase in unearned revenue 619 0 0
Increase (decrease) in taxes payable (5,502) 635 0
Decrease in accrued liabilities, other payables, and amounts owed to related parties (2,552) (3,825) (7,529)
Cash generated from (used in) operations 6,287 (6,234) (2,046)
Interest paid 0 0 0
Income tax paid 0 0 0
Net cash generated from (used in) operating activities 6,287 (6,234) (2,046)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of fixed assets 0 0 (5,618)
Proceed from disposal of property, plant and equipment 0 0 70
Decrease (increase) in restricted cash (1,066) (1,719) 0
Net cash used in investing activities (1,066) (1,719) (5,548)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of lease liabilities (13,902) 0 0
Insurance of share capital for equity financing 5,033 15,262 9,537
Warrants exercised 2,948 0 0
Advance from related parties 14 186 0
Net cash generated from (used in) financing activities (5,907) 15,448 9,537
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS (686) 7,495 1,943
CASH & EQUIVALENTS, BEGINNING OF YEAR 9,016 2,328 110
EFFECT OF FOREIGN EXCHANGE RATE DIFFERENCES (118) (807) 275
CASH & EQUIVALENTS, END OF YEAR ¥ 8,212 ¥ 9,016 ¥ 2,328