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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2019
CNY (¥)
Sep. 30, 2018
CNY (¥)
Sep. 30, 2017
CNY (¥)
Operating activities:        
Net loss $ (9,537) ¥ (65,653) ¥ (152,790) ¥ (106,261)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 1,760 13,796 16,452 27,687
Loss/(gain)on disposal of plant and equipment 129 914 (5,299) 327
Gain on disposal of land use right 0 0 (1,505) 0
Loss on termination of business disposal 0 0 90,683 0
Loss on disposal of subsidiaries and assets 0 0 0 3,282
Allowance for doubtful account 0 0 2,105 0
Recovery on receivables 0 0 0 (712)
Impairment on intangible assets 0   1,433 0
Impairment on long-term equity investment 0 0 2,374 0
Impairment on plant and equipment 596 4,213 0 25,873
Changes in provision for inventories 844 5,973 (13,601) 18,833
Non-cash interest expense (interest accretion) 0 0 16,757 3,227
Shares issued upon sign off of Equity Purchase Agreement 0 0 0 1,039
Share-based compensation expense 1,742 12,188 4,313 5,404
Changes in operating assets and liabilities:        
Accounts receivable (209) (1,481) 24 36
Due from related parties 14,310 101,216 55,940 0
Advances to growers 0 0 0 15,318
Advances to suppliers 92 650 2,062 (126)
Inventories 6,708 47,447 13,064 (21,533)
Income tax recoverable 0 0 0 49
Other current assets (190) (1,341) 1,084 (4,153)
Other assets (168) (1,191) (6) (1,914)
Accounts payable 250 1,768 (950) 4,114
Due to growers (102) (724) 1,449 21,114
Due to related parties (35,502) (251,099) (50,077) 61,903
Advances from customers 5,468 38,675 4,018 (157,407)
Income tax payable 93 656 0 0
Deferred revenues 0 0 0 (7,008)
Other long-term liabilities 1,113 7,507 810 66
Other payables and accrued expenses 3,726 26,356 1,615 (9,325)
Net cash provided by (used in) operating activities (8,756) (60,130) (10,045) (120,167)
Investing activities:        
Proceeds from disposal of commercial seed business, net of cash disposed (note 4) 0 0 33,600 33,165
Purchase of plant and equipment 0 0 (2,982) (2,624)
Proceeds from non-controlling interest capital contribution 1,326 9,379 0 0
Proceeds from disposal of plant and equipment and land use right 0 0 16,872 265
Purchase of land use rights 0 0 0 (1,267)
Cash from termination of second closing of disposal of commercial seed business (note 4) 0 0 101 0
Net cash(used in) provided by investing activities 1,326 9,379 47,591 29,539
Financing activities:        
Restricted cash 0 0 0 21,181
Proceeds from short-term borrowings 0 0 19,000 15,000
Proceeds from issuance of convertible promissory note 0 0 0 8,628
Proceeds from issuance of common stock 7,578 53,599 0 0
Proceeds from exercise of stock options 0 0 0 543
Proceeds from issuance of treasury stocks 0 0 0 6,115
Repayment of short-term borrowings 0 0 (34,000) (90,000)
Proceeds from long-term borrowings 0 0 0 120,000
Repayment of long-term borrowings 0 0 (20,376) (34,459)
Net cash provided by (used in) financing activities 7,578 53,599 (35,376) 47,008
Net (decrease) increase in cash and cash equivalents 149 2,848 2,170 (43,620)
Cash and cash equivalents, beginning of year 289 1,990 3,245 54,509
Effect of exchange rate changes on cash and cash equivalents 15 (1,640) (3,425) (7,644)
Cash and cash equivalents, end of the year 452 3,198 1,990 3,245
Supplemental disclosures of cash flow information:        
Income taxes paid 0 0 0 1,282
Interest paid, net of interest capitalized 680 4,680 4,861 14,486
Supplemental disclosure of non-cash financing activities:        
Issuance of commitment shares related to notes payable 0 0 0 1,847
Sale of equipment in repayment of due to related parties 7,918 5,600 0 0
Conversion of convertible promissory note $ 0 ¥ 0 ¥ 15,644 ¥ 0