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CONSOLIDATED STATEMENTS OF CASH FLOWS
In Thousands, unless otherwise specified
12 Months Ended
Sep. 30, 2012
USD ($)
Sep. 30, 2012
CNY
Sep. 30, 2011
CNY
Sep. 30, 2010
CNY
Operating activities:        
Net income (loss) attributable to Origin Agritech Limited $ (226) (1,434) (23,079) 49,053
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 3,082 19,541 23,307 21,712
Loss (gain) on disposal of plant and equipment 221 1,401 6,252 (26)
Gain on disposal of a land use right (130) (825) 0 0
Gain on disposal of an equity investment 0 0 0 (8,883)
Loss on disposal of Kunfeng's assets 286 1,814 0 0
Loss on liquidation of a subsidiary 0 0 13,582 0
Impairment on receivables 637 4,038 1,872 0
Inventory write down 4,329 27,453 12,978 14,971
Deferred income tax assets (201) (1,273) (6,739) (5,273)
Non-controlling interests (213) (1,351) 10,298 17,298
Share-based compensation expense 525 3,327 4,638 4,868
Share of net income of equity investments (636) (4,030) (1,616) (9,370)
Changes in operating assets and liabilities:        
Accounts receivable, net (708) (4,486) 1,560 (4,356)
Due from related parties 489 3,101 (76) 1,897
Advances to growers (1,509) (9,571) (37,932) (16,010)
Advances to suppliers 728 4,616 (8,432) 2,940
Inventories (16,122) (102,230) 15,175 45,783
Income tax recoverable (1) (4) 590 (1,020)
Other current assets 7,672 48,648 4 98
Other assets 2,270 14,394 (3,010) 3,193
Accounts payable (112) (709) (3,220) (5,137)
Due to growers (574) (3,643) (34,239) 32,567
Due to related parties 164 1,041 984 (7,773)
Advances from customers 5,853 37,111 49,136 128,834
Deferred revenues 541 3,431 (3,299) 4,831
Income tax payable 0 0 4,113 4,414
Other long-term liabilities 3,439 21,810 (7,003) 9,426
Other payables and accrued expenses 2,838 17,997 8,135 4,020
Net cash provided by operating activities 13,044 82,713 37,457 298,604
Investing activities:        
Dividends received 331 2,100 2,467 1,200
Purchase of plant and equipment (16,435) (104,214) (56,332) (15,839)
Liquidation of a subsidiary 0 0 (67,980) 0
Proceeds from disposal of an equity investment 0 0 0 50,000
Additional capital injection to an equity investment 0 0 (600) 0
Proceeds from disposal of land use right 180 1,140 0 0
Proceeds from disposal of plant and equipment 867 5,495 0 247
Deposits for purchase of acquired technology and land use rights 0 0 (1,280) (39)
Deposits for purchase of plant and equipment (6,919) (43,874) (11,468) (3,044)
Business acquisition, net of cash acquired 0 0 0 (10,540)
Purchase of land use rights (68) (431) 0 0
Purchase of intangible assets (568) (3,599) (19,197) (6,880)
Net cash provided by (used in) investing activities (22,612) (143,383) (154,390) 15,105
Financing activities:        
Restricted bank deposits 0 0 0 500
Proceeds from short-term borrowings 16,559 105,000 20,000 191,900
Repayment of short-term borrowings (14,193) (90,000) (85,900) (186,290)
Proceeds from long-term borrowings 6,150 39,000    
Repurchase of convertible notes 0 0 0 (117,896)
Acquisition of additional equity interest from non-controlling shareholders 0 0 0 (24,200)
Capital injection from a non-controlling shareholder 4,636 29,400 19,600 0
Dividends paid to non-controlling shareholders 0 0 (12,090) (6,908)
Proceeds from exercise of share options 0 0 2,654 6,535
Net cash (used in) provided by financing activities 13,152 83,400 (55,736) (136,359)
Net increase (decrease) in cash and cash equivalents 3,584 22,730 (172,669) 177,350
Cash and cash equivalents, beginning of year 20,492 129,942 299,672 121,255
Effect of exchange rate changes on cash and cash equivalents 19 117 2,939 1,067
Cash and cash equivalents, end of year 24,095 152,789 129,942 299,672
Supplemental disclosures of cash flow information:        
Income taxes paid 93 589 6,990 652
Interest paid 635 4,029 1,469 8,539
Supplemental disclosure of non-cash investing activities:        
Disposal of assets in lieu of payment for liabilities 286 1,814 0 0
Other current assets to be received from liquidation of a subsidiary $ 0 0 45,236 0