Page 11 - ar2011

09
Annual Report 2011
Energy-Saving
and Environmental
Protection Systems
Heat Pipes and
Heat-Pipe Exchangers Pipe Supports
Heat Exchangers and
Pressure Vessels
Revenue by activities (%)
FY2010 FY2011
Cash and bank balances, which were used to fnance
daily operating activities, decreased by RMB128.4
million from RMB236.0 million as at 31 December 2010 to
RMB107.6 million as at 31 December 2011.
Current liabilities increased by 23.1% to RMB1.08
billion as at 31 December 2011. The increase in
current liabilities was mainly attributed by the
increase in short-term borrowings of approximately
RMB197.4 million. The short-term borrowings were
required for working capital to support the increased
orders on hand.
Cash Flow and Liquidity
Net cash used in operating activities amounted to RMB268.0
million in FY2011, a decrease from net cash generated from
operating activities of RMB98.4 million in FY2010 attributed
to the following main factors:
the cash outfows arising from the increase in trade
and other receivables amounting to RMB201.6
million, the trade and other payables amounting
to RMB28.9 million and inventories amounting to
RMB132.8 million; and
the payment made for income tax amounting to
RMB26.3 million and net interest expenses of
RMB23.9 million.
Net cash used in investing activities amounted to a total
of RMB91.1 million due to the purchase of property,
plant and equipment amounting to RMB74.9 million
and land use rights amounting to RMB16.2 million.
Net cash from fnancing activities of approximately
RMB230.7 million arose mainly from proceeds of new
short term loans of approximately RMB521.1 million
and advances from a related party of RMB38.2 million.
These were partially offset by repayment of the bank
loans and dividends amounting to RMB343.9 million
in aggregate.
•
•
•
62.9%
6.0%
23.8%
7.3%
69.1%
6.8%
18.4%
5.7%