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CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥)
¥ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Loss before taxation ¥ (193,062) ¥ (9,445) ¥ (418,465)
Adjustments for      
Amortization of land use rights 0   108
Operating lease charge 13,082 12,187  
Depreciation of property, plant and equipment 12 12 11,500
Amortization of prepaid expenses 0 2,677  
Write down of inventories (reversal of inventory provision) (2,301) (56,766) 55,973
Bad debt provision of trade receivables 150,268 68,661 316,438
Loss from assets devaluation 0   85,021
Share based compensation 1,135 627 619
Interest expense on lease liability 2,746 315  
Operating cash flows before working capital changes (28,120) 18,268 51,194
Decrease in inventories 115,395 18,817 8,347
Increase in trade receivables (74,714) (21,570) (23,309)
Decrease (Increase) in other receivables and prepayments 1,191 (40) (2,521)
Decrease in trade payables (15,826) (1,753) (36,755)
Decrease in unearned revenue (619) 619  
Increase (decrease) in taxes payable 2,922 (5,502) 635
Decrease in accrued liabilities, other payables, and amounts owed to related parties (497) (2,552) (3,825)
Cash generated from (used in) operations (268) 6,287 (6,234)
Interest paid 0    
Income tax paid (45)    
Net cash generated from (used in) operating activities (313) 6,287 (6,234)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of fixed assets (46)    
Decrease (increase) in restricted cash 2,785 (1,066) (1,719)
Net cash generated from (used in) investing activities 2,739 (1,066) (1,719)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payment of lease liabilities (14,841) (13,902)  
Insurance of share capital for equity financing 16,045 5,033 15,262
Warrants exercised 0 2,948  
Advance from related parties 131 14 186
Net cash generated from (used in) financing activities 1,335 (5,907) 15,448
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS 3,761 (686) 7,495
CASH & EQUIVALENTS, BEGINNING OF YEAR 8,212 9,016 2,328
EFFECT OF FOREIGN EXCHANGE RATE DIFFERENCES 371 (118) (807)
CASH & EQUIVALENTS, END OF YEAR ¥ 12,344 ¥ 8,212 ¥ 9,016