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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Sep. 30, 2016
CNY (¥)
Sep. 30, 2016
USD ($)
Sep. 30, 2015
CNY (¥)
Sep. 30, 2014
CNY (¥)
Operating activities:        
Net loss attributable to Origin Agritech Limited ¥ (65,578) $ (9,820) ¥ (13,808) ¥ (9,527)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 31,222 4,675 30,547 28,524
Loss on disposal of plant and equipment 257 38 152 943
Loss on disposal of a subsidiary 0 0 0 2,623
Loss on disposal of an equity method investment 0 0 0 1,498
Allowance for doubtful account 242 36 0 15
Provision for inventories 20,502 3,070 10,965 21,984
Non-controlling interests (11,255) (1,685) (4,006) (613)
Share-based compensation expense 8,796 1,317 1,612 1,324
Share of net loss of equity method investments 0 0 0 776
Changes in operating assets and liabilities:        
Accounts receivable 1,318 197 (1,030) 914
Due from related parties 0 0 2,698 702
Advances to growers (876) (131) (37) 37,714
Advances to suppliers 3,121 467 7,267 (7,983)
Inventories 50,974 7,633 65,841 (67,541)
Income tax recoverable 0 0 0 1,114
Other current assets 40 6 (425) 1,824
Other assets 436 65 930 7,247
Accounts payable (15) (2) (136) (65)
Due to growers 2,589 388 (606) (19,933)
Due to related parties 58,291 8,730 30,573 10,181
Advances from customers (55,703) (8,342) (60,098) (46,926)
Income tax payable (37) (6) 37 (39,060)
Deferred revenues (4,240) (635) (7,781) (3,040)
Other long-term liabilities 7,568 1,134 290 (1,380)
Other payables and accrued expenses 253 39 (10,796) (6,954)
Net cash provided by (used in) operating activities 47,905 7,174 52,189 (85,639)
Investing activities:        
Proceeds from disposal of equity investment 0 0 0 900
Dividends received 0 0 0 3,000
Proceeds from disposal of a subsidiary, net of cash disposed 0 0 0 11,980
Deposits from proposed disposal of commercial seed business (note 25) 10,000 1,497 0 0
Purchase of plant and equipment (15,714) (2,353) (14,747) (10,502)
Proceeds from disposal of plant and equipment 483 72 172 6,174
Purchase of land use rights 0 0 (900) (673)
Purchase of intangible assets (1,250) (187) (4,884) (11,440)
Net cash used in investing activities (6,481) (971) (20,359) (561)
Financing activities:        
Restricted cash (901) (135) (4,610) (1,320)
Proceeds from short-term borrowings 195,000 29,201 235,000 305,000
Repayment of short-term borrowings (225,000) (33,694) (240,000) (285,000)
Proceeds from long-term borrowings 6,085 911 33,949 0
Repayment of long-term borrowings (24,000) (3,593) (33,805) (16,500)
Repurchase of common stock 0 0 0 (1,786)
Net cash provided by (used in) financing activities (48,816) (7,310) (9,466) 394
Net increase (decrease) in cash and cash equivalents (7,392) (1,107) 22,364 (85,806)
Cash and cash equivalents, beginning of year 66,025 9,888 46,268 131,978
Effect of exchange rate changes on cash and cash equivalents (4,124) (618) (2,607) 96
Cash and cash equivalents, end of year 54,509 8,163 66,025 46,268
Supplemental disclosures of cash flow information:        
Refund of income taxes 0 0 0 586
Income taxes paid 1,436 215 1,258 148
Interest paid, net of interest capitalized 14,251 2,134 18,649 19,743
Supplemental disclosure of non-cash investing activities:        
Proceeds from disposal of equity investment ¥ 0 $ 0 ¥ 0 ¥ 900