XML 83 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS
In Thousands, unless otherwise specified
12 Months Ended
Sep. 30, 2014
USD ($)
Sep. 30, 2014
CNY
Sep. 30, 2013
CNY
Sep. 30, 2012
CNY
Operating activities:        
Net income (loss) attributable to Origin Agritech Limited $ (1,550)us-gaap_NetIncomeLoss (9,527)us-gaap_NetIncomeLoss 7,494us-gaap_NetIncomeLoss (1,434)us-gaap_NetIncomeLoss
Adjustments to reconcile net income(loss) to net cash provided by operating activities:        
Depreciation and amortization 4,636us-gaap_DepreciationDepletionAndAmortization 28,524us-gaap_DepreciationDepletionAndAmortization 28,164us-gaap_DepreciationDepletionAndAmortization 19,541us-gaap_DepreciationDepletionAndAmortization
Loss (gain) on disposal of plant and equipment 153us-gaap_GainLossOnSaleOfPropertyPlantEquipment 943us-gaap_GainLossOnSaleOfPropertyPlantEquipment (4,505)us-gaap_GainLossOnSaleOfPropertyPlantEquipment 1,401us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Gain on disposal of a land use right 0us-gaap_GainLossOnDispositionOfIntangibleAssets 0us-gaap_GainLossOnDispositionOfIntangibleAssets 0us-gaap_GainLossOnDispositionOfIntangibleAssets (825)us-gaap_GainLossOnDispositionOfIntangibleAssets
Loss on liquidation of a subsidiary 0seed_GainLossOnSaleOfAssetsInSubsidiary 0seed_GainLossOnSaleOfAssetsInSubsidiary 0seed_GainLossOnSaleOfAssetsInSubsidiary 1,814seed_GainLossOnSaleOfAssetsInSubsidiary
Loss on disposal of a subsidiary 427us-gaap_GainOrLossOnSaleOfStockInSubsidiary 2,623us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary
Loss on disposal of an equity method investment 244us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 1,498us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal
Additions 2us-gaap_ProvisionForDoubtfulAccounts 15us-gaap_ProvisionForDoubtfulAccounts 5,358us-gaap_ProvisionForDoubtfulAccounts 4,038us-gaap_ProvisionForDoubtfulAccounts
Provision for inventories 3,574us-gaap_InventoryWriteDown 21,984us-gaap_InventoryWriteDown 38,561us-gaap_InventoryWriteDown 27,453us-gaap_InventoryWriteDown
Deferred income tax assets 0us-gaap_DeferredIncomeTaxExpenseBenefit 0us-gaap_DeferredIncomeTaxExpenseBenefit 1,755us-gaap_DeferredIncomeTaxExpenseBenefit 1,273us-gaap_DeferredIncomeTaxExpenseBenefit
Non-controlling interests (100)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest (613)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest 1,818us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest (1,351)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
Share-based compensation expense 215us-gaap_ShareBasedCompensation 1,324us-gaap_ShareBasedCompensation 1,893us-gaap_ShareBasedCompensation 3,327us-gaap_ShareBasedCompensation
Share of net (income)loss of equity method investments 126us-gaap_IncomeLossFromEquityMethodInvestments 776us-gaap_IncomeLossFromEquityMethodInvestments (5,161)us-gaap_IncomeLossFromEquityMethodInvestments (4,030)us-gaap_IncomeLossFromEquityMethodInvestments
Changes in operating assets and liabilities:        
Accounts receivable, net 149us-gaap_IncreaseDecreaseInAccountsReceivable 914us-gaap_IncreaseDecreaseInAccountsReceivable (242)us-gaap_IncreaseDecreaseInAccountsReceivable (4,486)us-gaap_IncreaseDecreaseInAccountsReceivable
Due from related parties 114us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent 702us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent (1,318)us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent 3,101us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent
Advances to growers 6,130seed_IncreaseDecreaseInAdvancesToGrowers 37,714seed_IncreaseDecreaseInAdvancesToGrowers 29,721seed_IncreaseDecreaseInAdvancesToGrowers (9,571)seed_IncreaseDecreaseInAdvancesToGrowers
Advances to suppliers (1,298)seed_IncreaseDecreaseInAdvancesToSuppliers (7,983)seed_IncreaseDecreaseInAdvancesToSuppliers (27)seed_IncreaseDecreaseInAdvancesToSuppliers 4,616seed_IncreaseDecreaseInAdvancesToSuppliers
Inventories (10,979)us-gaap_IncreaseDecreaseInInventories (67,541)us-gaap_IncreaseDecreaseInInventories (226,828)us-gaap_IncreaseDecreaseInInventories (102,230)us-gaap_IncreaseDecreaseInInventories
Income tax recoverable 181us-gaap_IncreaseDecreaseInIncomeTaxesReceivable 1,114us-gaap_IncreaseDecreaseInIncomeTaxesReceivable 996us-gaap_IncreaseDecreaseInIncomeTaxesReceivable (4)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable
Other current assets 296us-gaap_IncreaseDecreaseInOtherCurrentAssets 1,824us-gaap_IncreaseDecreaseInOtherCurrentAssets 9,574us-gaap_IncreaseDecreaseInOtherCurrentAssets 48,648us-gaap_IncreaseDecreaseInOtherCurrentAssets
Other assets 1,178us-gaap_IncreaseDecreaseInOtherNoncurrentAssets 7,247us-gaap_IncreaseDecreaseInOtherNoncurrentAssets 3,135us-gaap_IncreaseDecreaseInOtherNoncurrentAssets 14,394us-gaap_IncreaseDecreaseInOtherNoncurrentAssets
Accounts payable (11)us-gaap_IncreaseDecreaseInAccountsPayableTrade (65)us-gaap_IncreaseDecreaseInAccountsPayableTrade (441)us-gaap_IncreaseDecreaseInAccountsPayableTrade (709)us-gaap_IncreaseDecreaseInAccountsPayableTrade
Due to growers (3,240)seed_IncreaseDecreaseInDueToGrowersCurrent (19,933)seed_IncreaseDecreaseInDueToGrowersCurrent 33,571seed_IncreaseDecreaseInDueToGrowersCurrent (3,643)seed_IncreaseDecreaseInDueToGrowersCurrent
Due to related parties 1,655us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent 10,181us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent (1,239)us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent 1,041us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent
Advances from customers (7,627)us-gaap_IncreaseDecreaseInCustomerAdvances (46,926)us-gaap_IncreaseDecreaseInCustomerAdvances (63,473)us-gaap_IncreaseDecreaseInCustomerAdvances 37,111us-gaap_IncreaseDecreaseInCustomerAdvances
Income tax payable (6,349)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (39,060)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 0us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 0us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Deferred revenues (494)us-gaap_IncreaseDecreaseInDeferredLiabilities (3,040)us-gaap_IncreaseDecreaseInDeferredLiabilities (1,174)us-gaap_IncreaseDecreaseInDeferredLiabilities 3,431us-gaap_IncreaseDecreaseInDeferredLiabilities
Other long-term liabilities (224)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities (1,380)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities (780)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities 21,810us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities
Other payables and accrued expenses (1,130)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (6,954)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (2,961)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities 17,997us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
Net cash provided by (used in) operating activities (13,921)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (85,639)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (146,109)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 82,713us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities:        
Proceeds from disposal of equity investment 146us-gaap_ProceedsFromSaleOfEquityMethodInvestments 900us-gaap_ProceedsFromSaleOfEquityMethodInvestments 0us-gaap_ProceedsFromSaleOfEquityMethodInvestments 0us-gaap_ProceedsFromSaleOfEquityMethodInvestments
Dividends received 488us-gaap_ProceedsFromDividendsReceived 3,000us-gaap_ProceedsFromDividendsReceived 2,700us-gaap_ProceedsFromDividendsReceived 2,100us-gaap_ProceedsFromDividendsReceived
Proceeds from disposal of a subsidiary, net of cash disposed 1,947us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries 11,980us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries 0us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries 0us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries
Purchase of plant and equipment (1,707)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (10,502)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (63,282)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (104,214)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from disposal of land use right 0us-gaap_ProceedsFromSaleOfIntangibleAssets 0us-gaap_ProceedsFromSaleOfIntangibleAssets 0us-gaap_ProceedsFromSaleOfIntangibleAssets 1,140us-gaap_ProceedsFromSaleOfIntangibleAssets
Proceeds from disposal of plant and equipment 1,004us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 6,174us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 7,875us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 5,495us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Deposits for purchase of acquired technology and land use rights 0seed_DepositsForPurchaseOfAcquiredTechnologyAndLandUseRights 0seed_DepositsForPurchaseOfAcquiredTechnologyAndLandUseRights (5,781)seed_DepositsForPurchaseOfAcquiredTechnologyAndLandUseRights 0seed_DepositsForPurchaseOfAcquiredTechnologyAndLandUseRights
Deposits for purchase of plant and equipment 0seed_DepositsForPurchaseOfPlantAndEquipment 0seed_DepositsForPurchaseOfPlantAndEquipment (5,470)seed_DepositsForPurchaseOfPlantAndEquipment (43,874)seed_DepositsForPurchaseOfPlantAndEquipment
Purchase of land use rights (109)seed_PaymentsToAcquireLandUseRights (673)seed_PaymentsToAcquireLandUseRights (1,829)seed_PaymentsToAcquireLandUseRights (431)seed_PaymentsToAcquireLandUseRights
Purchase of intangible assets (1,859)us-gaap_PaymentsToAcquireIntangibleAssets (11,440)us-gaap_PaymentsToAcquireIntangibleAssets (2,492)us-gaap_PaymentsToAcquireIntangibleAssets (3,599)us-gaap_PaymentsToAcquireIntangibleAssets
Net cash used in investing activities (90)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (561)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (68,279)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (143,383)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Financing activities:        
Restricted cash (215)us-gaap_IncreaseDecreaseInRestrictedCash (1,320)us-gaap_IncreaseDecreaseInRestrictedCash (14,350)us-gaap_IncreaseDecreaseInRestrictedCash 0us-gaap_IncreaseDecreaseInRestrictedCash
Proceeds from short-term borrowings 49,574us-gaap_ProceedsFromShortTermDebt 305,000us-gaap_ProceedsFromShortTermDebt 274,000us-gaap_ProceedsFromShortTermDebt 105,000us-gaap_ProceedsFromShortTermDebt
Repayment of short-term borrowings (46,323)us-gaap_RepaymentsOfShortTermDebt (285,000)us-gaap_RepaymentsOfShortTermDebt (99,000)us-gaap_RepaymentsOfShortTermDebt (90,000)us-gaap_RepaymentsOfShortTermDebt
Proceeds from long-term borrowings 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 37,319us-gaap_ProceedsFromIssuanceOfLongTermDebt 39,000us-gaap_ProceedsFromIssuanceOfLongTermDebt
Repayment of long-term borrowings (2,682)us-gaap_RepaymentsOfLongTermDebt (16,500)us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt
Repurchase of common stock (290)us-gaap_RepaymentsOfConvertibleDebt (1,786)us-gaap_RepaymentsOfConvertibleDebt (6,282)us-gaap_RepaymentsOfConvertibleDebt 0us-gaap_RepaymentsOfConvertibleDebt
Capital injection from a non-controlling shareholder 0us-gaap_ProceedsFromMinorityShareholders 0us-gaap_ProceedsFromMinorityShareholders 0us-gaap_ProceedsFromMinorityShareholders 29,400us-gaap_ProceedsFromMinorityShareholders
Net cash provided by financing activities 64us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 394us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 191,687us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 83,400us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net increase (decrease) in cash and cash equivalents (13,947)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (85,806)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (22,701)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 22,730us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year 21,451us-gaap_CashAndCashEquivalentsAtCarryingValue 131,978us-gaap_CashAndCashEquivalentsAtCarryingValue 152,789us-gaap_CashAndCashEquivalentsAtCarryingValue 129,942us-gaap_CashAndCashEquivalentsAtCarryingValue
Effect of exchange rate changes on cash and cash equivalents 16us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 96us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 1,890us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 117us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Cash and cash equivalents, end of year 7,520us-gaap_CashAndCashEquivalentsAtCarryingValue 46,268us-gaap_CashAndCashEquivalentsAtCarryingValue 131,978us-gaap_CashAndCashEquivalentsAtCarryingValue 152,789us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of cash flow information:        
Refund of income taxes 95us-gaap_IncomeTaxRefundsDiscontinuedOperations 586us-gaap_IncomeTaxRefundsDiscontinuedOperations 0us-gaap_IncomeTaxRefundsDiscontinuedOperations 0us-gaap_IncomeTaxRefundsDiscontinuedOperations
Income taxes paid 24us-gaap_IncomeTaxesPaid 148us-gaap_IncomeTaxesPaid 1,711us-gaap_IncomeTaxesPaid 589us-gaap_IncomeTaxesPaid
Interest paid, net of interest capitalized 3,209us-gaap_InterestPaid 19,743us-gaap_InterestPaid 11,326us-gaap_InterestPaid 4,029us-gaap_InterestPaid
Supplemental disclosure of non-cash investing activities:        
Disposal of assets in lieu of payment for liabilities 0seed_SaleOfAssetsInLieuOfPaymentForLiabilities 0seed_SaleOfAssetsInLieuOfPaymentForLiabilities 0seed_SaleOfAssetsInLieuOfPaymentForLiabilities 1,814seed_SaleOfAssetsInLieuOfPaymentForLiabilities
Proceeds from disposal of equity investment $ 146seed_ProceedsFromDisposalOfEquityInvestment 900seed_ProceedsFromDisposalOfEquityInvestment 0seed_ProceedsFromDisposalOfEquityInvestment 0seed_ProceedsFromDisposalOfEquityInvestment