Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 10.8B | 4.8B | 1.8B | 1.2B | 1.1B | 835.0M | 646.0M | 750.0M | 220.0M |
| Revenue Growth % | 126.0% | 168.7% | 49.1% | 10.3% | 29.3% | 29.3% | -13.9% | 240.9% | -- |
| Total Revenue | 10.8B | 4.8B | 1.8B | 1.2B | 1.1B | 835.0M | 646.0M | 750.0M | 220.0M |
| Cost Of Revenue | 9.2B | 3.9B | 1.5B | 986.0M | 861.0M | 646.0M | 518.0M | 645.0M | 188.0M |
| Gross Profit | 1.6B | 848.0M | 296.0M | 205.0M | 219.0M | 189.0M | 128.0M | 105.0M | 32.0M |
| Gross Margin % | 14.8% | 17.8% | 16.7% | 17.2% | 20.3% | 22.6% | 19.8% | 14.0% | 14.5% |
| Total Operating Cost | 10.1B | 4.5B | 1.8B | 1.2B | 977.0M | 766.0M | 599.0M | 716.0M | 212.0M |
| Selling Expenses | 93.4M | 40.5M | 16.7M | 6.8M | 4.7M | 11.9M | 4.7M | 5.0M | 3.0M |
| Admin Expenses | 207.0M | 92.7M | 57.9M | 49.4M | 30.6M | 30.5M | 30.9M | 19.6M | 8.4M |
| Rd Expenses | 292.0M | 203.0M | 108.0M | 66.9M | 45.8M | 38.9M | 37.1M | 23.4M | 7.8M |
| Finance Expenses | 202.0M | 92.9M | 48.9M | 28.7M | 17.8M | 19.3M | 4.6M | 10.1M | -1.0M |
| Operating Income | 717.0M | 377.0M | 8.9M | 62.7M | 105.0M | 70.3M | 47.1M | 34.0M | 8.2M |
| Operating Margin % | 6.6% | 7.9% | 0.5% | 5.3% | 9.7% | 8.4% | 7.3% | 4.5% | 3.7% |
| Non Operating Income | 1,100 | 1.8M | 6.3M | 3.4M | 5.0M | 22.0M | 600,000 | -- | 394,700 |
| Non Operating Expenses | 1.2M | 104,300 | 113,000 | 482,900 | 220,000 | 4,600 | 267,400 | -- | 5,800 |
| Investment Income | -2.2M | -896,200 | -2.1M | 33.0M | -- | -- | -- | -- | -- |
| Fair Value Change Income | 3.0M | 20.1M | -- | -- | -- | -- | -- | -- | -- |
| Asset Disposal Income | -209,400 | 15.6M | -1.7M | 795,000 | -- | -- | -- | -- | -- |
| Asset Impairment Loss | 89.6M | 92.2M | 47.1M | 31.7M | 14.0M | 19.1M | 1.0M | 12.6M | 4.9M |
| Other Income | 30.5M | 21.2M | 5.8M | 18.7M | 2.1M | 1.8M | 558,300 | 541,900 | 17,000 |
| Income Before Tax | 715.0M | 379.0M | 15.1M | 65.6M | 110.0M | 92.3M | 47.4M | 34.0M | 8.6M |
| Income Tax | 27.2M | 27.9M | -10.7M | -1.8M | 11.9M | 15.2M | 10.7M | 3.5M | 1.2M |
| Net Income | 688.0M | 351.0M | 25.8M | 67.4M | 98.2M | 77.1M | 36.7M | 30.5M | 7.5M |
| Net Margin % | 6.4% | 7.4% | 1.5% | 5.7% | 9.1% | 9.2% | 5.7% | 4.1% | 3.4% |
| Net Income Attributable | 688.0M | 351.0M | 25.0M | 67.5M | 98.2M | 77.1M | 36.7M | 30.5M | 7.5M |
| Minority Interest | -87,400 | 162,800 | 825,000 | -72,600 | -- | -- | -- | -- | -- |
| Eps Basic | 3.08 | 1.70 | 0.17 | 0.69 | 1.64 | 1.29 | 0.61 | 0.51 | 0.12 |
| Eps Diluted | 3.03 | 1.69 | 0.17 | 0.69 | 1.62 | 1.28 | 0.61 | 0.51 | 0.12 |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash And Equivalents | 706.0M | 916.0M | 274.0M | 109.0M | 118.0M | 72.0M | 33.6M | 2.2M | 1.9M |
| Trading Financial Assets | -- | -- | -- | 141.0M | -- | -- | -- | -- | -- |
| Accounts Receivable | 723.0M | 397.0M | 423.0M | 398.0M | 147.0M | 122.0M | 99.1M | 54.6M | 4.2M |
| Notes Receivable | 44.2M | 8.0M | 11.8M | -- | -- | -- | -- | -- | -- |
| Notes And Accounts Receivable | 767.0M | 405.0M | 434.0M | 398.0M | 147.0M | 122.0M | 99.1M | 54.6M | 4.2M |
| Prepayments | 296.0M | 79.4M | 106.0M | 155.0M | 75.9M | 53.3M | 44.9M | 26.1M | 10.4M |
| Inventory | 7.1B | 4.4B | 1.9B | 755.0M | 566.0M | 437.0M | 287.0M | 160.0M | 121.0M |
| Total Current Assets | 9.8B | 6.1B | 2.9B | 1.7B | 973.0M | 727.0M | 499.0M | 259.0M | 155.0M |
| Long Term Equity Investment | 23.4M | 1.2M | 1.5M | 3.9M | -- | -- | -- | -- | -- |
| Fixed Assets | 331.0M | 118.0M | 43.2M | 32.8M | 28.0M | 17.0M | 5.8M | -- | 3.5M |
| Fixed Assets Total | 331.0M | 118.0M | 43.2M | 32.8M | 28.0M | 17.0M | 5.8M | 4.5M | 3.5M |
| Construction In Progress | 132.0M | 22.9M | 6.4M | 46.1M | 79.8M | 9.1M | 1.5M | -- | -- |
| Construction In Progress Total | 132.0M | 22.9M | 6.4M | 46.1M | 79.8M | 9.1M | 1.5M | -- | -- |
| Intangible Assets | 29.0M | 22.1M | 4.9M | 6.6M | -- | 7,767 | 28,600 | 65,200 | 47,400 |
| Long Term Deferred Expenses | 117.0M | 136.0M | 146.0M | 34.3M | 16.6M | 17.6M | 6.9M | 5.7M | 698,400 |
| Total Non Current Assets | 1.0B | 499.0M | 420.0M | 332.0M | 173.0M | 92.4M | 16.7M | 13.0M | 5.2M |
| Total Assets | 10.8B | 6.6B | 3.3B | 2.0B | 1.1B | 819.0M | 516.0M | 272.0M | 160.0M |
| Short Term Borrowings | 3.5B | 2.0B | 1.6B | 359.0M | 262.0M | 167.0M | 23.4M | 16.3M | 9.7M |
| Accounts Payable | 731.0M | 920.0M | 153.0M | 140.0M | 79.0M | 82.8M | 86.3M | 97.3M | 41.9M |
| Advance Receipts | -- | -- | -- | -- | -- | -- | 4.5M | 219,100 | 25.0M |
| Contract Liabilities | 624.0M | 33.7M | 18.8M | 6.4M | 21.8M | 15.1M | -- | -- | -- |
| Total Current Liabilities | 6.4B | 3.1B | 1.9B | 734.0M | 524.0M | 323.0M | 168.0M | 169.0M | 130.0M |
| Long Term Borrowings | 952.0M | 786.0M | 73.7M | -- | -- | 13.5M | 2.3M | 1.8M | -- |
| Total Non Current Liabilities | 1.2B | 954.0M | 245.0M | 170.0M | 68.2M | 47.7M | 3.0M | 2.7M | 632,100 |
| Total Liabilities | 7.6B | 4.1B | 2.2B | 904.0M | 592.0M | 371.0M | 171.0M | 171.0M | 131.0M |
| Paid In Capital | 227.0M | 162.0M | 113.0M | 80.2M | 60.0M | 60.0M | 22.4M | 20.6M | 16.4M |
| Capital Reserve | 1.8B | 1.8B | 751.0M | 739.0M | 296.0M | 286.0M | 243.0M | 35.8M | 1.3M |
| Surplus Reserve | 122.0M | 46.3M | 22.5M | 22.5M | 18.5M | 8.8M | 7.4M | 6.1M | 2.9M |
| Retained Earnings | 1.1B | 569.0M | 257.0M | 247.0M | 186.0M | 97.6M | 72.4M | 37.1M | 9.7M |
| Minority Equity | -- | 1.4M | 1.2M | -71,900 | -- | -- | -- | -- | -- |
| Equity Attributable | 3.3B | 2.5B | 1.1B | 1.1B | 554.0M | 448.0M | 345.0M | 100.0M | 28.8M |
| Total Equity | 3.3B | 2.5B | 1.1B | 1.1B | 554.0M | 448.0M | 345.0M | 100.0M | 28.8M |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash From Sales | 11.9B | 5.0B | 1.9B | 1.0B | 1.2B | 922.0M | 625.0M | 734.0M | 187.0M |
| Tax Refunds Received | 115.0M | 52.2M | 5.9M | -- | -- | -- | -- | -- | -- |
| Total Operating Cash Inflow | 12.1B | 5.1B | 1.9B | 1.1B | 1.2B | 980.0M | 638.0M | 735.0M | 187.0M |
| Cash Paid For Goods | 13.8B | 6.1B | 2.8B | 1.3B | 1.1B | 896.0M | 738.0M | 712.0M | 192.0M |
| Cash Paid To Employees | 301.0M | 184.0M | 116.0M | 86.4M | 45.5M | 27.5M | 16.8M | 11.3M | 6.5M |
| Taxes Paid | 75.3M | 17.4M | 14.4M | 37.9M | 26.5M | 26.7M | 12.7M | 13.9M | 3.8M |
| Total Operating Cash Outflow | 14.3B | 6.4B | 3.0B | 1.4B | 1.2B | 993.0M | 781.0M | 744.0M | 207.0M |
| Operating Cash Flow | -2.2B | -1.3B | -1.0B | -331.0M | 10.6M | -13.3M | -143.0M | -9.5M | -19.7M |
| Total Investing Cash Inflow | 532.0M | 32.9M | 541.0M | 238.0M | -- | -- | -- | -- | -- |
| Total Investing Cash Outflow | 1.1B | 153.0M | 449.0M | 507.0M | 57.1M | 80.1M | 5.6M | 5.1M | 2.0M |
| Investing Cash Flow | -546.0M | -120.0M | 92.3M | -269.0M | -57.1M | -80.1M | -5.6M | -5.1M | -2.0M |
| Cash From Borrowings | 6.0B | 4.3B | 2.2B | 556.0M | 303.0M | 201.0M | 34.0M | 23.0M | 10.0M |
| Dividends And Interest Paid | 184.0M | 107.0M | 45.5M | 13.0M | 18.5M | 9.7M | 2.0M | 1.9M | 659,000 |
| Debt Repayments | 3.2B | 3.1B | 1.0B | 486.0M | 182.0M | 41.6M | 25.9M | 14.0M | 16.5M |
| Total Financing Cash Inflow | 6.0B | 5.3B | 2.3B | 1.2B | 303.0M | 204.0M | 275.0M | 54.3M | 43.2M |
| Total Financing Cash Outflow | 3.4B | 3.3B | 1.1B | 619.0M | 237.0M | 73.2M | 94.7M | 39.4M | 22.9M |
| Financing Cash Flow | 2.6B | 2.1B | 1.1B | 550.0M | 66.4M | 131.0M | 180.0M | 14.9M | 20.3M |
| Net Change In Cash | -208.0M | 652.0M | 213.0M | -41.1M | 18.0M | 38.4M | 31.4M | 272,200 | -1.4M |
| Ending Cash Balance | 706.0M | 914.0M | 262.0M | 48.9M | 90.0M | 72.0M | 33.6M | 2.2M | 1.9M |
| Capex | 494.0M | 124.0M | 102.0M | 122.0M | 57.1M | 80.1M | 5.6M | 5.1M | 2.0M |