|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net loss |
$ (2,518) |
$ (1,149) |
$ (55,290) |
| Adjustments to reconcile net loss to net cash generated from operating activities: |
|
|
|
| Depreciation of property, plant and equipment |
22,182 |
22,407 |
21,984 |
| Amortization of land use rights |
1,164 |
1,174 |
1,144 |
| Amortization of intangible assets |
178 |
199 |
213 |
| Impairment loss on goodwill |
0 |
0 |
11,388 |
| Impairment loss on long-lived assets |
3,549 |
0 |
11,590 |
| Deferred income taxes |
(482) |
(163) |
(485) |
| Changes in fair value of warrant liabilities |
(839) |
399 |
(951) |
| Gain from disposal of subsidiaries |
|
(2,767) |
|
| Amortization of debt issuance costs |
175 |
191 |
19 |
| Amortization of government grant |
(3) |
(3) |
(3) |
| Share-based compensation expense |
211 |
166 |
10,479 |
| Loss from disposal of property, plant and equipment |
45 |
508 |
266 |
| Exchange loss (gain) |
41 |
(28) |
851 |
| Gain from extinguishment of amounts due to original shareholders of acquired subsidiaries |
|
(462) |
|
| Provision for impairment allowance on prepayments and other current assets |
|
843 |
696 |
| Provision for allowance for doubtful accounts on amounts due from a related party |
|
|
1,302 |
| Net pension cost recognized |
|
33 |
173 |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
2,175 |
(1,797) |
242 |
| Notes receivable |
789 |
(1,874) |
|
| Prepayments and other current assets |
(426) |
(463) |
310 |
| Other non-current assets |
(538) |
779 |
(344) |
| Accounts payable |
(1,084) |
(345) |
(42) |
| Amounts due to related parties |
(1) |
(2) |
|
| Accrued expenses and other current liabilities |
(6,437) |
(1,524) |
(1,903) |
| Other non-current liabilities |
1,229 |
6,578 |
5 |
| Net cash generated from operating activities |
19,410 |
22,700 |
1,644 |
| Cash flows from investing activities: |
|
|
|
| Acquisition of subsidiaries, net of cash acquired |
|
(8,923) |
(19,330) |
| Proceeds from disposal of subsidiaries |
10,957 |
20,212 |
|
| Cash deposit for potential acquisitions |
|
|
(696) |
| Acquisition of intangible assets |
(90) |
|
|
| Acquisition of property, plant and equipment |
(1,087) |
(7,091) |
(1,490) |
| Proceeds from disposal of property, plant and equipment |
26 |
35 |
112 |
| Payment to contractors for construction projects |
(450) |
(6,931) |
(3,330) |
| Loans to a related party |
|
(86) |
|
| Proceeds from insurance claims |
549 |
|
|
| Net cash (used in) generated from investing activities |
9,905 |
(2,784) |
(24,734) |
| Cash flows from financing activities: |
|
|
|
| Proceeds from exercise of share options |
26 |
|
|
| Purchase of subsidiary shares from noncontrolling interests |
|
|
(1,204) |
| Proceeds from loans from related parties |
2,034 |
572 |
1,263 |
| Proceeds from short-term loans |
14,364 |
28,070 |
23,066 |
| Proceeds from long-term loans |
32,335 |
72,947 |
45,823 |
| Proceeds from exercised warrants |
|
|
10,036 |
| Proceeds from loans from third parties |
3,425 |
20,161 |
17,456 |
| Payment of debt issuance costs and service fee |
(194) |
(704) |
|
| Repayment of loans from related parties |
(5,585) |
(69) |
|
| Repayment of short-term loans |
(26,225) |
(28,051) |
(20,889) |
| Repayment of long-term loans |
(36,544) |
(69,986) |
(66,955) |
| Repayment of loans from third parties |
(13,313) |
(38,136) |
(10,637) |
| Restricted cash |
5,249 |
(5,166) |
|
| Net cash used in financing activities |
(24,428) |
(20,362) |
(2,041) |
| Net (decrease) increase in cash and cash equivalents |
4,887 |
(446) |
(25,131) |
| Effect of changes in exchange rate on cash and cash equivalents |
1,311 |
11 |
76 |
| Cash and cash equivalents at the beginning of the year |
7,967 |
8,402 |
33,457 |
| Cash and cash equivalents at the end of the year |
14,165 |
7,967 |
8,402 |
| Supplementary disclosure of cash flow information |
|
|
|
| Interest paid |
16,588 |
19,983 |
22,928 |
| Income taxes paid |
5,061 |
2,855 |
2,333 |
| Non-cash activities: |
|
|
|
| Non-cash portion of acquisition of subsidiaries |
|
|
1,825 |
| Non-cash portion of acquisition of property, plant and equipment |
3,286 |
3,330 |
9,595 |
| Non-cash portion of disposal of property, plant and equipment |
|
|
20 |
| Discharge of liability from disposal of subsidiaries |
|
$ 158 |
|