| Cash Flow for Origin Agritech Ltd. (SEED) | | | | | | | Cash Flow | in Thousands of Dollars | | | 09/2007 | 09/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (21,781) | 9,658 | 2,034 | (668) | (1) | | Depreciation & Amortization | 2,940 | 1,477 | 837 | - | - | | Deferred Income Taxes | (1,173) | (470) | 11 | - | - | | Operating Losses | 2,018 | (1,770) | (279) | - | - | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 1,168 | (1,205) | - | - | - | | Decrease in Inventories | (7,671) | 27,252 | (15,063) | - | - | | Decrease in Other Current Assets | 4,053 | (3,000) | (4,388) | (244) | - | | Increase in Payables | (4,169) | (7,124) | 754 | - | - | | Increase in Other Current Liabilities | (9,666) | (47,262) | 19,390 | 284 | 1 | | Decrease in Other Working Capital | 338 | (49) | (9) | - | - | | Other Non-Cash Items | 10,353 | 1,184 | 320 | - | - | | Net Cash from Continuing Operations | (22,588) | (15,594) | 3,020 | (627) | (0) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (22,588) | (15,594) | 3,020 | (627) | (0) | | | | Sale of Property, Plant, Equipment | 1,104 | 128 | 12 | - | - | | Sale of Short Term Investments | - | 6,974 | - | 41,307 | - | | | Purchase of Property, Plant, Equipment | (6,424) | (2,816) | (6,421) | - | - | | Acquisitions | (4,254) | (4,592) | - | - | - | | Purchase of Short Term Investments | (4,048) | (25,499) | - | (61,848) | - | | Other Investment Changes, Net | 53 | (3,868) | (660) | - | - | | Cash from Investing Activities | (12,137) | (30,993) | (7,772) | (20,541) | - | | | Issuance of Debt | 88,590 | 29,226 | 9,775 | 10 | 60 | | Issuance of Capital Stock | - | 26,785 | 13,987 | 24,150 | 25 | | | Repayment of Debt | (47,013) | (6,540) | (6,815) | (70) | - | | Repurchase of Capital Stock | (3,921) | - | - | - | - | | Payment of Cash Dividends | 217 | (15,306) | (971) | - | - | | Other Financing Charges, Net | - | 628 | 9,764 | (2,883) | (25) | | Cash from Financing Activities | 37,873 | 34,793 | 25,740 | 21,207 | 60 | | | | Effect of Exchange Rate Changes | (297) | (463) | (48) | - | - | | Net Change in Cash | 2,851 | (12,257) | 20,940 | 39 | 60 | | | Cash at Beginning of Year | 18,812 | 30,090 | 8,531 | 60 | - | | Cash at End of Period | 21,663 | 17,833 | 29,471 | 99 | 60 | | | |
