China XD Plastics Co Ltd Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018	FY2017 12 months to Dec 31, 2017	FY2016 12 months to Dec 31, 2016
Net income (loss)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization
Amortization of ROU assets
Stock-based compensation
Amortization of discount and issuance cost of the Notes
Provision for doubtful accounts
Impairment of long-term prepayments to equipment and construction suppliers
Impairment of long-lived assets
Amortization of issuance cost for syndicated loans
Gains on foreign currency option contracts
Foreign currency exchange gains (losses)
Losses (gains) on disposals of property, plant and equipment
Gains on disposals of property, plant and equipment
Gains on disposal of a subsidiary
Deferred income tax benefit
Loss on debt extinguishment
Restricted cash
Accounts receivable
Amounts due from a related party
Changes in operating assets and liabilities:
Accounts receivable
Amounts due from related parties
Inventories
Prepaid expenses and other current assets
Value added tax in long-term prepayments to equipment suppliers
Other non-current assets
Bills payable
Accounts payable
Amounts due to related parties
Income taxes payable
Operating lease liabilities, current
Accrued expenses and other current liabilities
Deferred income
Other non-current liabilities
Net cash provided by operating activities
Net cash used in operating activities

Cash flows from investing activities:
Purchases of and deposits for property, plant and equipment
Net proceeds from sales of subsidiaries
Proceeds from maturity of time deposits
Purchase of time deposits
Purchase of land use rights
Loan to third parties
Refund of prepayment for property and equipment purchase
Proceeds from disposal of property, plant and equipment
Refund of deposit from equipment suppliers
Deposits for acquisition of equity
Refund of deposits for acquisition of equity
Cash disposed for sales of a subsidiary
Net proceeds from sales of a subsidiary
Government grant related to construction of plant and equipment
Net cash used in investing activities

Cash flows from financing activities:
Proceeds from bank borrowings
Repayment of bank borrowings
Redemption of notes payable
Proceeds from Syndicate loan facility
Proceeds from interest-free advances from related parties
Repayment of interest-free advances from related parties
Payments of issuance cost for syndicated loans
Investment received in advance from a related party
Refund investment received in advance from a related party
Proceeds from exercise of stock options
Release of restricted cash as collateral for bank borrowings
Placement of restricted cash as collateral for bank borrowings
Capital injection from noncontrolling interests
Net cash provided by financing activities

Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash
Net (decrease) increase in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of year
Cash, cash equivalents and restricted cash at end of year
Supplemental disclosure of cash flow information:
Interest paid, net of US$2,893,630, US$ 2,562,026 and US$ 231,356 capitalized for the years ended December 31, 2017, 2016 and 2015, respectively
Interest paid, net of US$3,306,287 and US$3,751,573 capitalized for the years ended December 31, 2020 and 2019, respectively
Income taxes paid

Conversion of Series D preferred stock to common stock
Income taxes paid
Government grant related to the construction of Sichuan plant in the form of restricted cash (note 2(e))
Non-cash investing and financing activities:
Conversion of Series D preferred stock to common stock
Accrual for issuance cost for syndicated loans
Accrual for purchase of equipment and construction included in accrued expenses and other current liabilities
Receivable for disposal of property, plant and equipment
Consideration receivable for the disposal of a subsidiary
Cash and cash equivalents
Restricted cash
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows

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