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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
CNY (¥)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
CNY (¥)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
CNY (¥)
Dec. 31, 2014
USD ($)
Cash flows from operating activities:            
Net income/(loss) | $   $ 231   $ (616)   $ (123)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:            
Depreciation of property, plant and equipment | $   55   56   88
(Gain)/loss on disposal of property, plant and equipment | $   (7)   0   0
Net gain on deemed disposal of affiliate | $   (24)   0   0
Stock-based compensation expenses | $   0   16   2
Non-controlling interest in (loss)/profits of subsidiaries | $   (73)   (391)   (169)
Equity in profit/loss of affiliates | $   (1,002)   (850)   (605)
Deferred tax assets | $   16   25   9
Decrease/(increase) in current assets:            
Accounts receivable, net | $   107   (232)   (186)
Prepayments and other current assets | $   (315)   89   695
Inventories | $   213   (14)   (49)
Increase/(decrease) in current liabilities:            
Accounts payable | $   119   (507)   446
Other payables and accrued expenses | $   632   (475)   (585)
Taxation payable | $   201   (73)   7
Net cash provided by / (used in) operating activities | $   153   (2,972)   (470)
Cash flows from investing activities:            
Purchase of property, plant and equipment | $   (60)   (21)   (10)
Proceeds on disposal of property, plant and equipment | $   10   0   0
Dividend received from affiliates | $   249   292   302
Restricted cash for issuance of bank guarantees | $   191   404   (314)
Dividend paid to non-controlling interest | $   0   0   (42)
Net cash provided by / (used in) investing activities | $   390   675   (64)
Cash flows from financing activities:            
Increase in loans payable | $   720   0   0
Purchase of treasury stock | $   0   (20)   0
Net cash provided by / (used in) financing activities | $   720   (20)   0
Effect of exchange rate changes on cash and cash equivalents | $   8   (60)   (15)
Net increase/(decrease) in cash and cash equivalents | $   1,271   (2,377)   (549)
Cash and cash equivalents, beginning of year | $   2,480   4,857   5,406
Cash and cash equivalents, end of year | $   3,751   2,480   4,857
Supplemental disclosure of cash flow information:            
Interest received | $   18   45   27
Income taxes paid | $   70   1   3
Supplemental disclosure of non-cash activities:            
Net gain on deemed disposal of affiliate | $   $ 24   $ 0   $ 0
ZHEJIANG TIANLAN            
Cash flows from operating activities:            
Net income/(loss) ¥ 22,642   ¥ 21,753   ¥ 14,008  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:            
Depreciation of property, plant and equipment 14,144   8,473   2,985  
Amortisation of intangible asset 575   193   239  
Amortisation of land use right 149   149   149  
Written off of motor vehicles 0   5   0  
(Gain)/loss on disposal of property, plant and equipment 15   0   225  
(Gain)/loss on disposal of intangible asset 0   0   (150)  
Deferred tax assets (1,337)   (177)   (1,391)  
Other non-current asset (17,512)   0   0  
Decrease/(increase) in current assets:            
Accounts receivable, net 42,807   (51,299)   (9,481)  
Prepayments and other current assets 8,501   57,251   (19,654)  
Inventories (994)   3,943   (1,078)  
Other tax receivables (20)   1,045   (1,045)  
Increase/(decrease) in current liabilities:            
Accounts payable (59,042)   (57)   77,861  
Other payables and accrued expenses 10,408   (72,663)   37,075  
Other taxes payable (933)   (479)   1,034  
Income tax payable 2,268   934   (449)  
Net cash provided by / (used in) operating activities 21,481   (30,929)   100,328  
Cash flows from investing activities:            
Purchase of intangible asset (402)   0   0  
Purchase of property, plant and equipment (3,368)   (8,285)   (117,966)  
Sales proceed from a subsidiary (note 1) 1,000   0   0  
Sales proceeds from intangible assets 0   0   420  
Proceeds on disposal of property, plant and equipment 1,100   0   923  
Net cash provided by / (used in) investing activities (1,670)   (8,285)   (116,623)  
Cash flows from financing activities:            
Proceeds from issuance of shares 3,360   0   0  
Repayment of bank borrowings (70,000)   (174,900)   (104,690)  
Advance of bank borrowings 50,000   122,000   137,900  
Dividend paid to owners (9,220)   (9,180)   (9,180)  
Advance of long term borrowings 3,959   107,732   0  
Net cash provided by / (used in) financing activities (21,901)   45,652   24,030  
Net increase/(decrease) in cash and cash equivalents (2,090)   6,438   7,735  
Cash and cash equivalents, beginning of year 35,635   29,197   21,462  
Cash and cash equivalents, end of year 33,545   35,635   29,197  
Supplemental disclosure of cash flow information:            
Interest received 70   166   148  
Interest paid 1,577   6,429   6,272  
Income taxes paid 4,245   3,310   2,263  
ZHEJIANG JIAHUAN            
Cash flows from operating activities:            
Net income/(loss) 10,462   4,936   4,710  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:            
Depreciation of property, plant and equipment 2,211   2,296   2,408  
Written off of property, plant and equipment 0   32   0  
Amortisation of intangible asset 266   83   0  
Amortisation of land use right 163   163   163  
Other gains 0   (282)   0  
(Gain)/loss on disposal of property, plant and equipment 147   0   0  
Decrease/(increase) in current assets:            
Accounts receivable, net 8,795   (25,939)   (6,448)  
Restricted cash (8)   (21)   0  
Note receivables (10,364)   5,004   (322)  
Other receivables 2,030   (3,072)   (6,074)  
Inventories (6,542)   10,786   5,909  
Increase/(decrease) in current liabilities:            
Accounts payable 465   2,269   1,767  
Note payable 1,155   3,595   0  
Other payables and accrued expenses 3,688   (3,145)   2,131  
Income tax payable (1,426)   1,121   405  
Other long-term liability (119)   (133)   (73)  
Net cash provided by / (used in) operating activities 10,923   (2,307)   4,576  
Cash flows from investing activities:            
Purchase of intangible asset 0   (591)   0  
Purchase of property, plant and equipment (613)   (258)   (664)  
Proceeds on disposal of property, plant and equipment 182   0   0  
Net cash provided by / (used in) investing activities (431)   (849)   (664)  
Cash flows from financing activities:            
Repayment of bank borrowings (39,400)   (50,400)   (50,300)  
Advance of bank borrowings 28,200   63,200   50,100  
(Decrease)/Increase in amount due to shareholders 0   (5,470)   (3,200)  
Dividend paid to owners 0   0   (2,250)  
Net cash provided by / (used in) financing activities (11,200)   7,330   (5,650)  
Net increase/(decrease) in cash and cash equivalents (708)   4,174   (1,738)  
Cash and cash equivalents, beginning of year 7,303   3,129   4,867  
Cash and cash equivalents, end of year 6,595   7,303   3,129  
Supplemental disclosure of cash flow information:            
Interest received 54   44   17  
Interest paid (2,752)   (3,799)   (2,209)  
Income taxes paid (2,813)   0   (79)  
Income tax refund ¥ 0   ¥ 260   ¥ 0