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CONSOLIDATED STATEMENTS OF CASH FLOWS
In Thousands, unless otherwise specified
12 Months Ended
Sep. 30, 2011
USD ($)
Sep. 30, 2011
CNY
Sep. 30, 2010
CNY
Sep. 30, 2009
CNY
Operating activities:        
Net income (loss) $ (3,630) (23,079) 49,053 (40,817)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 3,668 23,307 21,712 21,266
Loss (gain) on disposal of plant and equipment 984 6,252 (26) 457
Gain on disposal of an equity investment 0 0 (8,883) 0
Loss on liquidation of a subsidiary 2,137 13,582 0 0
Change in the fair value of embedded derivatives 0 0 0 (3,300)
Impairment on receivables 294 1,872 0 26
Inventory write down 2,042 12,978 14,971 7,395
Loss on repurchase of convertible note 0 0 0 51,101
Interest expense and amortization of discount on convertible notes 0 0 0 3,799
Deferred income tax assets 1,060 6,739 5,273 11,152
Non-controlling interests 1,620 10,298 17,298 18,892
Share-based compensation expense 730 4,638 4,868 2,760
Share of net income of equity investments (254) (1,616) (9,370) (4,669)
Changes in operating assets and liabilities:        
Accounts receivable, net 245 1,560 (4,356) (1,006)
Due from related parties (12) (76) 1,897 3,538
Advances to growers (5,969) (37,932) (16,010) 20,807
Advances to suppliers (1,327) (8,432) 2,940 0
Inventories 2,388 15,175 45,783 38,569
Income tax recoverable 93 590 (1,020) (28)
Other current assets 1 4 98 2,444
Other assets (474) (3,010) 3,193 10,182
Accounts payable (507) (3,220) (5,137) 6,014
Due to growers (5,388) (34,239) 32,567 (4,414)
Due to related parties 155 984 (7,773) 16,856
Advances from customers 7,732 49,136 128,834 81,159
Deferred revenues (519) (3,299) 4,831 (16,568)
Income tax payable 647 4,113 4,414 602
Other long-term liabilities (1,102) (7,003) 9,426 (3,658)
Other payables and accrued expenses 1,280 8,135 4,020 (13,676)
Net cash provided by operating activities 5,894 37,457 298,604 208,883
Investing activities:        
Dividends received 388 2,467 1,200 4,600
Purchase of plant and equipment (8,864) (56,332) (15,839) (18,804)
Liquidation of a subsidiary (10,697) (67,980) 0 0
Proceeds from disposal of an equity investment 0 0 50,000 0
Additional capital injection to an equity investment (95) (600) 0 0
Proceeds from disposal of plant and equipment 0 0 247 1,395
Deposits for purchase of acquired technology and land use rights (201) (1,280) (39) (2,650)
Deposits for purchase of plant and equipment (1,805) (11,468) (3,044) (332)
Business acquisition, net of cash acquired 0 0 (10,540) 0
Purchase of intangible assets (3,021) (19,197) (6,880) (100)
Net cash provided by/(used in) investing activities (24,295) (154,390) 15,105 (15,891)
Financing activities:        
Restricted bank deposits 0 0 500 (500)
Proceeds from short-term borrowings 3,147 20,000 191,900 134,850
Repayment of short-term borrowings (13,517) (85,900) (186,290) (219,440)
Repayment of third party loans 0 0 0 (4,560)
Repurchase of convertible notes 0 0 (117,896) (68,290)
Acquisition of additional equity interest from non-controlling shareholders 0 0 (24,200) 0
Capital injection from a non-controlling shareholder 3,084 19,600 0 0
Dividends paid to non-controlling shareholders (1,902) (12,090) (6,908) (17,993)
Proceeds from exercise of share options 418 2,654 6,535 0
Net cash used in financing activities (8,770) (55,736) (136,359) (175,933)
Net increase (decrease) in cash and cash equivalents (27,171) (172,669) 177,350 17,059
Cash and cash equivalents, beginning of year 47,156 299,672 121,255 102,263
Effect of exchange rate changes on cash and cash equivalents 463 2,939 1,067 1,933
Cash and cash equivalents, end of year 20,448 129,942 299,672 121,255
Supplemental disclosures of cash flow information:        
Income taxes paid 1,100 6,990 652 6
Interest paid 231 1,469 8,539 11,574
Supplemental disclosure of non-cash investing activities:        
Other current assets to be received from liquidation of a subsidiary $ 7,118 45,236 0 0