China XD Plastics Announces First Quarter 2015 Financial Results

 

 

CHINA XD PLASTICS COMPANY LIMITED AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS




Three-Month Period Ended March 31,




2015



2014




US$



US$


Cash flows from operating activities:







Net cash provided by operating activities



37,529,772




26,174,417











Cash flows from investing activities:









Purchase of time deposits



(110,597,161)




(162,265,820)


Proceeds from maturity of time deposits



80,026,889




111,155,365


Purchase of and deposits for property, plant and equipment



(86,042,231)




-


Purchases of land use rights



(5,522,219)




(1,020,326)


Net cash used in investing activities



(122,134,722)




(52,130,781)











Cash flows from financing activities:









Proceeds from bank borrowings



203,658,524




176,935,307


Repayment of bank borrowings



(111,397,430)




(215,370,999)


Proceeds from issuance of the Notes



-




148,396,175


Payment of issuance costs of the Notes



-




(3,481,955)


Placement of restricted cash as collateral for bank borrowings



(22,298,692)




(2,786,383)


Net cash provided by financing activities



69,962,402




103,692,145











Effect of foreign currency exchange rate changes on cash and

     cash equivalents



384,182




(2,866,506)


Net increase (decrease) in cash and cash equivalents



(14,258,366)




74,869,275











Cash and cash equivalents at beginning of period



45,456,612




95,545,904


Cash and cash equivalents at end of period



31,198,246




170,415,179











Supplemental disclosure of cash flow information:









Interest paid, net of capitalized interest



14,508,630




5,242,256


Income taxes paid



2,215,158




18,749,381


Non-cash investing and financing activities:









Accrual for issuance costs of the Notes



-




1,439,209


Accrual for purchase of equipment



14,224




155,285



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