SOL · As filed with the SEC
Emeren Group cash flow statement, by fiscal year
The statement as Emeren Group presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD
| USD | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Operating activities: | ||||||||
| Net loss | (11,610,000) | (5,431,000) | (4,548,156) | 6,614,460 | 2,155,987 | (11,680,155) | 5,096,480 | 34,457,538 |
| Less: (Income)/loss from discontinued operations, net of tax | — | — | — | — | — | 0 | 0 | (31,257,707) |
| Net income/(loss) | — | — | — | — | 2,155,987 | (11,680,155) | 5,096,480 | 3,199,831 |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation | 6,915,000 | 7,830,000 | 6,817,331 | 6,794,404 | 7,342,327 | 7,796,003 | 8,402,169 | 4,475,823 |
| Amortization of deferred convertible notes issuance costs and premium | — | — | — | — | — | — | 0 | 0 |
| Losses on derivatives | — | — | — | — | — | — | 0 | 0 |
| Allowances for doubtful accounts | — | — | — | — | — | 6,981,682 | — | — |
| Allowances for credit losses | 3,506,000 | 3,736,000 | 774,419 | 2,314,201 | 6,667,963 | — | — | — |
| Write-off of current assets | — | — | 0 | 0 | 353,418 | — | — | — |
| Share-based compensation | 377,000 | 1,442,000 | 1,739,337 | 2,627,031 | 369,187 | 348,916 | 439,071 | 870,618 |
| Deferred tax provision | 132,000 | (40,000) | 4,349,407 | 418,462 | (303,000) | 255,538 | (1,094,385) | 88,048 |
| Fair value change of warrant liability | — | — | — | — | — | — | 0 | 0 |
| Gains on repurchase of convertible notes | — | — | — | — | — | — | 0 | 0 |
| Gains on disposal of solar project | — | — | — | — | — | — | (290,729) | 0 |
| Loss on cancellation of project assets | 2,581,000 | 2,704,000 | 224,580 | 1,300,620 | 1,460,104 | 6,434,935 | — | — |
| Impairment loss of assets | — | 1,711,000 | 0 | 360,151 | 1,432,296 | 6,880,115 | — | — |
| Loss on disposals of property, plant and equipment | 40,000 | 2,479,000 | 171,347 | 333,821 | 767,879 | 3,908,208 | — | — |
| Gains on disposal of property, plant and equipment | — | — | 0 | (65,589) | (16,278,095) | (302,359) | — | — |
| Investment loss (gain) | 4,000 | (278,000) | (174,380) | — | — | — | — | — |
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, trade and unbilled | 13,954,000 | (27,971,000) | (15,373,423) | (27,642,606) | (6,774,212) | 12,522,431 | (5,607,302) | (22,371,300) |
| Project assets and deferred project costs | — | — | — | — | — | — | — | (30,731,709) |
| Contract costs | — | — | — | — | — | — | — | (12,192,302) |
| Advances to suppliers | 3,208,000 | (3,277,000) | (740,157) | (128,932) | 92,070 | 102,869 | (19,647) | 3,864,146 |
| Value added tax receivable | — | (1,106,000) | (3,136,238) | (923,299) | 1,609,650 | 3,225,883 | 1,673,423 | (9,052,607) |
| Value added tax recoverables | (1,242,000) | — | — | — | — | — | — | — |
| Prepaid expenses and other current assets | 1,264,000 | (5,751,000) | (1,907,115) | (1,281,659) | (6,897,176) | 8,585,326 | (4,157,231) | (8,625,177) |
| Project assets and deferred project costs | — | — | — | — | — | — | (9,737,172) | — |
| Contract costs | — | — | — | — | — | — | 6,638,389 | — |
| Project assets | (18,462,000) | (25,812,000) | (35,331,947) | 10,035,195 | 11,619,676 | 24,325,633 | — | — |
| Contract costs | — | — | — | — | 0 | 0 | — | — |
| Other non-current assets | (4,805,000) | 4,592,000 | 1,425,195 | 2,064,699 | (7,581,870) | (11,316,279) | (3,138,597) | 103,535 |
| Accounts payable | — | — | — | — | — | — | (12,755,646) | 24,452,548 |
| Advances from customers | — | — | — | — | — | — | — | (282,019) |
| Accounts payable | (1,645,000) | 9,161,000 | (2,348,997) | (2,703,731) | (12,969,701) | 8,244,250 | — | — |
| Advances from customers | 12,000 | 1,610,000 | 3,559,270 | (790,180) | 778,151 | (13,962) | (126,851) | — |
| Amounts due to related parties | (1,004,000) | 2,661,000 | (108,293) | 1,763,018 | (252,886) | (12,101,847) | (16,606,095) | 14,353,175 |
| Other current liabilities | 3,347,000 | 6,840,000 | 6,373,344 | (7,141,701) | 6,702,455 | 1,324,293 | 460,750 | (1,802,578) |
| Income tax payable | (1,440,000) | 1,228,000 | 19,069 | (119,566) | (156,747) | 379,140 | 408,382 | 284,182 |
| Salaries payable | 575,000 | 184,000 | 199,697 | 70,533 | (171,915) | 13,081 | (135,209) | 560,416 |
| Deferred project revenue | — | — | — | — | 0 | 0 | (20,536,065) | (13,878,685) |
| Net cash provided by/(used in) operating activities from continuing operations | — | — | — | — | — | 55,913,701 | (51,086,265) | (46,684,055) |
| Net cash provided by operating activities from discontinued operation | — | — | — | — | — | 0 | 0 | 65,114,169 |
| Net cash used in operating activities | (4,293,000) | (23,488,000) | (38,015,710) | (6,100,668) | (10,034,439) | 55,913,701 | (51,086,265) | 18,430,114 |
| Investing activities: | ||||||||
| Purchase of property, plant and equipment | (15,747,000) | (10,747,000) | (37,616,815) | (11,617,137) | (8,247,790) | (13,693,749) | (40,399,769) | (80,314,313) |
| Proceeds from disposal of power stations | — | — | — | — | — | — | 0 | 0 |
| Acquisition of business | — | — | 0 | 0 | (3,896,627) | — | — | — |
| Proceeds from disposals of property, plant and equipment | 277,000 | 0 | 2,620,412 | 31,273,922 | 7,538,516 | 12,096,869 | — | — |
| Proceeds from disposal of non-financial assets in subsidiary | 0 | 15,896,000 | — | — | — | — | — | — |
| Proceeds from lending by related parties | — | 0 | 433,285 | 0 | 1,218,840 | 0 | 0 | 2,000,000 |
| Changes in restricted cash | — | — | — | — | — | — | — | 0 |
| Net cash paid on settlement of derivatives | — | — | — | — | — | — | 0 | 0 |
| Net cash used in investing activities from continued operations | — | — | — | — | — | (1,596,880) | (40,399,769) | (79,938,574) |
| Net cash used in investing activities from discontinued operations | — | — | — | — | — | 0 | 0 | (76,415,127) |
| Lending to related parties | — | — | 0 | (433,285) | — | 0 | 0 | (1,624,261) |
| Purchase of U.S. treasury note | — | 0 | (9,984,765) | — | — | — | — | — |
| Proceeds from sale of U.S treasury note | 0 | 9,935,000 | — | — | — | — | — | — |
| Interest income from U.S. treasury note | — | 225,000 | 112,500 | — | — | — | — | — |
| Interest income from U.S. treasury note | 0 | — | — | — | — | — | — | — |
| Net cash (used in) provided by investing activities | (15,470,000) | 15,309,000 | (44,435,383) | 19,223,500 | (3,387,061) | (1,596,880) | (40,399,769) | (156,353,701) |
| Financing activities: | ||||||||
| Proceeds from banks and other third-party borrowings | 2,161,000 | 217,000 | 95,802 | 61,510 | 9,968,028 | 17,922,511 | 59,977,400 | 6,101,351 |
| Repayment of banks and other third-party borrowings | (2,107,000) | (1,853,000) | (713,342) | (30,204,213) | (19,166,536) | (65,491,414) | (9,693,015) | 0 |
| Contribution from non-controlling interest holders of subsidiaries | 0 | 111,000 | 0 | 2,118,240 | 0 | 13,092,105 | 30,318,948 | — |
| Repurchase of convertible notes | — | — | — | — | — | — | 0 | 0 |
| Proceeds from issuance of ordinary shares | 0 | 106,000 | 393,026 | 290,000,000 | 44,999,330 | 11,000,000 | — | — |
| Share issuance costs | — | — | 0 | (17,270,972) | (3,504,118) | (105,110) | — | — |
| Repurchase of shares | (7,208,000) | (21,938,000) | (43,677,707) | (18,446,119) | — | — | 0 | 0 |
| Proceeds from bonds | — | — | 0 | 2,358,546 | 8,427,712 | 12,913,675 | — | — |
| Repayment of bonds | — | — | 0 | (11,261,572) | (2,544,062) | (10,417,360) | — | — |
| Borrowings from related parties | 219,000 | 666,000 | 203,111 | 1,272,143 | 12,827 | 793,269 | 17,273,194 | 11,343,739 |
| Repayment of borrowings from related parties | — | — | 0 | 0 | (1,174,295) | (8,380,994) | (20,478,081) | (2,041,201) |
| Repayment of finance lease obligation | — | — | — | — | — | (6,100,711) | (4,960,478) | (976,966) |
| Proceeds from failed sale-lease back agreements | — | — | — | — | — | — | — | 38,722,123 |
| Repayment of failed sale-lease back financing | — | — | — | — | — | — | — | (251,213) |
| Proceeds from failed sale-lease back agreements | — | — | — | — | — | — | 24,876,650 | — |
| Repayment of failed sale-lease back financing | — | — | — | — | — | — | (11,490,104) | — |
| Proceeds from failed sale-lease back | 8,838,000 | 7,686,000 | — | 0 | 0 | 2,793,810 | — | — |
| Repayment of finance lease obligations | (1,477,000) | (4,943,000) | (5,434,620) | (7,207,081) | (2,174,035) | — | — | — |
| Repayment of failed sale-lease back financing | (6,275,000) | (5,315,000) | (11,147,078) | (6,779,968) | (4,667,878) | (7,325,456) | — | — |
| Net cash provided by/(used in) financing activities from continued operations | — | — | — | — | — | (39,305,675) | 85,824,514 | 52,897,833 |
| Net cash provided by financing activities from discontinued operations | — | — | — | — | — | 0 | 0 | 49,505,882 |
| Proceeds from option exercise | — | — | — | — | — | — | — | 0 |
| Net cash used in financing activities | (5,849,000) | (25,263,000) | (60,280,808) | 204,640,514 | 30,176,973 | (39,305,675) | 85,824,514 | 102,403,715 |
| Effect of exchange rate changes | — | — | — | (4,057,291) | (722,416) | 1,087,262 | 1,258,263 | 11,612,791 |
| Net increase (decrease) in cash and cash equivalents | — | — | — | — | — | — | — | (23,907,081) |
| Cash and cash equivalents, beginning of year | — | — | — | — | — | — | 13,429,301 | 3,964,896 |
| Cash and cash equivalents, end of year | — | — | — | — | — | — | — | 13,429,301 |
| Net decrease in cash and cash equivalents and restricted cash | — | — | — | — | — | — | (4,403,257) | — |
| Effect of exchange rate changes | 5,450,000 | (3,672,000) | (4,363,207) | — | — | — | — | — |
| Net decrease in cash and cash equivalents and restricted cash | (20,162,000) | (37,114,000) | (147,095,108) | 213,706,055 | 16,033,057 | 16,098,408 | — | — |
| Cash and cash equivalents and restricted cash, beginning of year | 70,174,000 | 107,288,000 | 254,382,366 | 40,676,311 | 24,697,153 | 9,026,044 | 13,429,301 | — |
| Less: Cash and cash equivalents and restricted cash reclassified as assets held for sale | — | — | — | — | — | 427,299 | — | — |
| Cash and cash equivalents and restricted cash, end of year | 50,012,000 | 70,174,000 | 107,287,258 | 254,382,366 | 40,676,311 | 24,697,153 | 9,026,044 | — |
| Supplemental schedule of cash flow information: | ||||||||
| Interest paid, net | 1,988,000 | 2,033,000 | 3,166,901 | 5,196,490 | 6,193,484 | 9,038,779 | 8,274,634 | 3,936,302 |
| Income tax paid | 3,575,000 | 1,305,000 | (1,310,546) | (366,352) | (509,493) | (338,103) | 637,527 | 42,877 |
| Payables for purchase of property, plant and equipment | — | (13,426,000) | (14,321,740) | (5,533,545) | (8,958,993) | (22,810,701) | (36,680,431) | (25,562,367) |
| Payable for finance leases | — | — | — | — | (19,852,094) | (20,766,512) | (34,130,495) | (28,783,346) |
| Issuance of ordinary shares for the disposal of discontinued business | — | — | — | — | — | — | — | 0 |
| Right-of-use assets obtained in exchange for lease liabilities | — | 0 | 5,252,612 | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.