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CONSOLIDATED STATEMENTS OF CASH FLOWS
In Thousands, unless otherwise specified
12 Months Ended
Sep. 30, 2013
USD ($)
Sep. 30, 2013
CNY
Sep. 30, 2012
CNY
Sep. 30, 2011
CNY
Operating activities:        
Net income (loss) attributable to Origin Agritech Limited $ 1,202 7,494 (1,434) (23,079)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 4,581 28,164 19,541 23,307
Loss (gain) on disposal of plant and equipment (723) (4,505) 1,401 6,252
Gain on disposal of a land use right 0 0 (825) 0
Gain on disposal of an equity investment 0 0 0 (1)
Loss on disposal of Kunfeng's assets 0 0 1,814 0
Loss on liquidation of a subsidiary 0 0 0 13,582
Impairment on receivables 872 5,358 4,038 1,872
Inventory write down 6,272 38,561 27,453 12,978
Deferred income tax assets 282 1,755 1,273 6,739
Non-controlling interests 292 1,818 (1,351) 10,298
Share-based compensation expense 308 1,893 3,327 4,638
Share of net income of equity investments (828) (5,161) (4,030) (1,616)
Changes in operating assets and liabilities:        
Accounts receivable, net (39) (242) (4,486) 1,560
Due from related parties (214) (1,318) 3,101 (76)
Advances to growers 4,834 29,721 (9,571) (37,932)
Advances to suppliers (4) (27) 4,616 (8,432)
Inventories (36,895) (226,828) (102,230) 15,175
Income tax recoverable 162 996 (4) 590
Other current assets 1,557 9,574 48,648 4
Other assets 510 3,135 14,394 (3,010)
Accounts payable (72) (441) (709) (3,220)
Due to growers 5,460 33,571 (3,643) (34,239)
Due to related parties (202) (1,239) 1,041 984
Advances from customers (10,324) (63,473) 37,111 49,136
Deferred revenues (191) (1,174) 3,431 (3,299)
Income tax payable 0 0 0 4,113
Other long-term liabilities (127) (780) 21,810 (7,003)
Other payables and accrued expenses (482) (2,961) 17,997 8,135
Net cash provided by (used in) operating activities (23,769) (146,109) 82,713 37,457
Investing activities:        
Dividends received 439 2,700 2,100 2,467
Purchase of plant and equipment (10,284) (63,282) (104,214) (56,332)
Liquidation of a subsidiary 0 0 0 (67,980)
Additional capital injection to an equity investment 0 0 0 (600)
Proceeds from disposal of land use right 0 0 1,140 0
Proceeds from disposal of plant and equipment 1,281 7,875 5,495 0
Deposits for purchase of acquired technology and land use rights (940) (5,781) 0 (1,280)
Deposits for purchase of plant and equipment (890) (5,470) (43,874) (11,468)
Purchase of land use rights (298) (1,829) (431) 0
Purchase of intangible assets (405) (2,492) (3,599) (19,197)
Net cash provided by (used in) investing activities (11,097) (68,279) (143,383) (154,390)
Financing activities:        
Restricted cash (2,334) (14,350) 0 0
Proceeds from short-term borrowings 44,567 274,000 105,000 20,000
Repayment of short-term borrowings (16,103) (99,000) (90,000) (85,900)
Proceeds from long-term borrowings 6,070 37,319 39,000 0
Repurchase of common stock (1,022) (6,282) 0 0
Capital injection from a non-controlling shareholder 0 0 29,400 19,600
Dividends paid to non-controlling shareholders 0 0 0 (12,090)
Proceeds from exercise of share options 0 0 0 2,654
Net cash provided by (used in) financing activities 31,178 191,687 83,400 (55,736)
Net increase (decrease) in cash and cash equivalents (3,688) (22,701) 22,730 (172,669)
Cash and cash equivalents, beginning of year 24,852 152,789 129,942 299,672
Effect of exchange rate changes on cash and cash equivalents 303 1,890 117 2,939
Cash and cash equivalents, end of year 21,467 131,978 152,789 129,942
Supplemental disclosures of cash flow information:        
Income taxes paid 278 1,711 589 6,990
Interest paid 1,842 11,326 4,029 1,469
Supplemental disclosure of non-cash investing activities:        
Disposal of assets in lieu of payment for liabilities 0 0 1,814 0
Other current assets to be received from liquidation of a subsidiary $ 0 0 0 45,236