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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Dec. 31, 2017
CNY (¥)
Cash flows from operating activities:        
Net income $ 40,491 ¥ 281,891 ¥ 269,771 ¥ 209,130
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Provision for allowance for doubtful accounts 1,298 9,037 159 1,485
Inventory write-down 10,941 76,169 38,725 42,313
Share-based compensation 10,799 75,183 75,862 58,231
Depreciation and amortization 17,251 120,096 72,175 50,615
Amortization of issuance cost of convertible senior notes 2,379 16,563 0 0
Deferred income tax (2,411) (16,786) (22,944) (3,391)
Loss on disposal of property and equipment 501 3,489 2,063 1,056
Gain on disposal of investment 0 0 0 (5,464)
Share of (income) loss in equity method investment (685) (4,768) 996 1,265
Impairment loss of investments 1,296 9,021 9,021 6,227
Exchange (gain) loss 1,542 10,729 4,949 (391)
Changes in operating assets and liabilities:        
Accounts receivable (35,595) (247,806) (462,121) (457,012)
Inventories (45,977) (320,086) (307,045) (106,807)
Advances to suppliers (5,635) (39,232) (77,195) (13,154)
Prepayments and other current assets (14,470) (100,738) (80,644) (77,235)
Amounts due from related parties 1,860 12,947 56,525 (50,023)
Operating lease right-of-use assets 3,513 24,456 0 0
Other non-current assets (1,574) (10,959) (11,978) (3,064)
Accounts payable (3,500) (24,369) 302,808 54,547
Notes payable 26,419 183,923 (21,230) (67,140)
Income tax payables 2,758 19,202 32,344 14,609
Amounts due to related party (1,034) (7,198) 13,994 0
Accrued expenses and other current liabilities 34,835 242,521 5,263 175,129
Operating lease liabilities (1,708) (11,889) 0 0
Net cash provided by (used in) operating activities 43,294 301,396 (98,502) (169,074)
Cash flows from investing activities:        
Purchases of property and equipment (13,110) (91,266) (123,014) (267,028)
Purchases of short-term investments (220,062) (1,532,028) 0 (272,614)
Maturity of short-term investments 110,025 765,969 256,079 0
Purchase of long-term time deposits (30,394) (211,599) 0 0
Additions of intangible assets (8,850) (61,611) (85,724) (36,383)
Purchases of land use right 0 0 0 (45,810)
Investment in equity investees (2,370) (16,500) (17,385) 0
Net cash received (paid) for business combination 1,951 13,584 0 (17,031)
Cash received for disposal of equity investees 0 0 7,608 1,143
Loan to an equity investee without readily determinable fair value 0 0 0 (1,440)
Net cash provided by (used in) investing activities (162,810) (1,133,451) 37,564 (639,163)
Cash flows from financing activities:        
Payment for public offering costs 0 0 0 (8,562)
Proceeds from short-term borrowings 131,661 916,603 780,123 329,392
Repayment of short-term borrowings (132,769) (924,313) (515,923) (157,392)
Proceeds from long-term borrowings 0 0 63,306 0
Repayment of long-term borrowings (9,971) (69,415) 0 0
Capital contribution from NCI 646 4,500 0 0
Proceeds from exercises of stock options 245 1,705 3,719 4,267
Proceeds from issuance of convertible senior notes, net of issuance cost paid 265,420 1,847,802 0 0
Proceeds from ADS lending 1 9 0 0
Net cash provided by financing activities 255,233 1,776,891 331,225 167,705
Net increase (decrease) in cash, cash equivalents and restricted cash 135,717 944,836 270,287 (640,532)
Cash, cash equivalents and restricted cash, beginning of year 83,722 582,855 293,657 968,151
Effect of exchange rate changes on cash, cash equivalents and restricted cash (127) (881) 18,911 (33,962)
Cash, cash equivalents and restricted cash, end of year 219,312 1,526,810 582,855 293,657
Restricted cash 54,922 382,359 125,515 48,848
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows 219,312 582,855 582,855 293,657
Supplemental disclosure of cash flow information:        
Cash paid for interest 5,398 37,578 12,992 3,054
Cash paid for income tax 9,872 68,728 55,553 43,034
Supplemental disclosures of non-cash investing and financing activities:        
Unpaid public offering costs 107 742 0 0
Receivable from disposal of equity investees 0 0 0 7,608
Purchases of property and equipment included in payables $ 8 ¥ 59 ¥ 2,534 ¥ 0