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 |
|---|---|---|---|---|---|
| Revenue | 1.0B | 1.0B | 653.0M | 839.0M | 713.0M |
| Revenue Growth % | -2.8% | 59.4% | -22.2% | 17.7% | -- |
| Total Revenue | 1.0B | 1.0B | 653.0M | 839.0M | 713.0M |
| Cost Of Revenue | 777.0M | 739.0M | 438.0M | 574.0M | 451.0M |
| Gross Profit | 235.0M | 302.0M | 215.0M | 265.0M | 262.0M |
| Gross Margin % | 23.2% | 29.0% | 32.9% | 31.6% | 36.7% |
| Total Operating Cost | 929.0M | 916.0M | 574.0M | 823.0M | 518.0M |
| Selling Expenses | 9.1M | 12.0M | 12.5M | 7.9M | 8.2M |
| Admin Expenses | 52.1M | 51.4M | 38.8M | 31.8M | 28.2M |
| Rd Expenses | 63.4M | 42.7M | 29.5M | 32.1M | 19.9M |
| Finance Expenses | -3.9M | -8.2M | -13.2M | -11.3M | -2.7M |
| Operating Income | 107.0M | 144.0M | 99.5M | 34.3M | 205.0M |
| Operating Margin % | 10.6% | 13.8% | 15.2% | 4.1% | 28.8% |
| Non Operating Income | 258,800 | 1.3M | 10.2M | 13.5M | 73,300 |
| Non Operating Expenses | 1.2M | 10.0M | 2.8M | 10.1M | 792,200 |
| Investment Income | 6.8M | 6.0M | 6.8M | 8.1M | 7.8M |
| Fair Value Change Income | 416,100 | 6.7M | 733,100 | 3.3M | 1.0M |
| Asset Disposal Income | -8,900 | 2,400 | 21,400 | -- | -- |
| Asset Impairment Loss | 13.6M | 40.5M | 17.7M | 28.1M | 419,500 |
| Other Income | 17.1M | 7.2M | 12.5M | 6.8M | 879,500 |
| Income Before Tax | 106.0M | 136.0M | 107.0M | 37.7M | 204.0M |
| Income Tax | 21.9M | 16.3M | 10.7M | 4.4M | 28.7M |
| Net Income | 84.2M | 119.0M | 96.2M | 33.3M | 175.0M |
| Net Margin % | 8.3% | 11.4% | 14.7% | 4.0% | 24.5% |
| Net Income Attributable | 81.4M | 133.0M | 104.0M | 33.0M | 174.0M |
| Minority Interest | 2.9M | -14.1M | -7.8M | 392,600 | 989,800 |
| Eps Basic | 0.20 | 0.33 | 0.25 | 0.08 | 0.45 |
| Eps Diluted | 0.20 | 0.33 | 0.25 | 0.08 | 0.45 |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash And Equivalents | 312.0M | 375.0M | 389.0M | 145.0M | 161.0M |
| Trading Financial Assets | 13.1M | 88.7M | 273.0M | 407.0M | 370.0M |
| Accounts Receivable | 763.0M | 580.0M | 513.0M | 568.0M | 301.0M |
| Notes Receivable | 31.2M | 27.1M | 17.1M | 4.3M | -- |
| Notes And Accounts Receivable | 794.0M | 607.0M | 530.0M | 572.0M | 301.0M |
| Prepayments | 65.1M | 66.7M | 58.2M | 45.3M | 19.7M |
| Inventory | 150.0M | 190.0M | 305.0M | 177.0M | 76.8M |
| Total Current Assets | 1.6B | 1.5B | 1.8B | 1.6B | 1.2B |
| Long Term Equity Investment | 35.9M | 30.9M | 23.1M | 39.4M | 39.0M |
| Fixed Assets | 277.0M | 303.0M | 286.0M | 94.0M | 68.1M |
| Fixed Assets Total | 277.0M | 303.0M | 286.0M | 94.0M | 68.1M |
| Construction In Progress | 135.0M | 2.5M | 52.6M | 95.3M | 38.1M |
| Construction In Progress Total | 135.0M | 2.5M | 52.6M | 95.3M | 38.1M |
| Intangible Assets | 1.4B | 212.0M | 269.0M | 303.0M | 331.0M |
| Long Term Deferred Expenses | 73.1M | 98.6M | 3.2M | 4.3M | 2.5M |
| Total Non Current Assets | 2.0B | 852.0M | 1.0B | 888.0M | 837.0M |
| Total Assets | 3.6B | 2.4B | 2.8B | 2.5B | 2.0B |
| Short Term Borrowings | 74.5M | 15.1M | 11.0M | 9.5M | -- |
| Accounts Payable | 655.0M | 375.0M | 413.0M | 402.0M | 282.0M |
| Advance Receipts | -- | -- | -- | -- | -- |
| Contract Liabilities | 199.0M | 240.0M | 415.0M | 338.0M | 96.7M |
| Total Current Liabilities | 1.4B | 751.0M | 1.1B | 965.0M | 525.0M |
| Long Term Borrowings | 279.0M | -- | 100.0M | -- | -- |
| Total Non Current Liabilities | 420.0M | 25.8M | 114.0M | 25.3M | 12.5M |
| Total Liabilities | 1.9B | 777.0M | 1.2B | 990.0M | 538.0M |
| Paid In Capital | 409.0M | 409.0M | 409.0M | 409.0M | 409.0M |
| Capital Reserve | 512.0M | 512.0M | 512.0M | 512.0M | 512.0M |
| Surplus Reserve | 98.8M | 90.5M | 79.8M | 69.9M | 67.6M |
| Retained Earnings | 463.0M | 472.0M | 452.0M | 398.0M | 449.0M |
| Minority Equity | 260.0M | 99.9M | 114.0M | 134.0M | 17.0M |
| Equity Attributable | 1.5B | 1.5B | 1.5B | 1.4B | 1.4B |
| Total Equity | 1.7B | 1.6B | 1.6B | 1.5B | 1.5B |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash From Sales | 763.0M | 854.0M | 634.0M | 762.0M | 511.0M |
| Tax Refunds Received | 13.7M | 4.0M | 8.1M | 5.7M | 715,700 |
| Total Operating Cash Inflow | 1.1B | 1.1B | 711.0M | 809.0M | 579.0M |
| Cash Paid For Goods | 399.0M | 537.0M | 374.0M | 541.0M | 483.0M |
| Cash Paid To Employees | 127.0M | 115.0M | 92.8M | 78.2M | 59.4M |
| Taxes Paid | 61.6M | 87.6M | 55.3M | 64.3M | 43.1M |
| Total Operating Cash Outflow | 950.0M | 985.0M | 573.0M | 738.0M | 672.0M |
| Operating Cash Flow | 140.0M | 101.0M | 138.0M | 71.5M | -92.5M |
| Total Investing Cash Inflow | 1.7B | 2.0B | 1.6B | 2.3B | 2.1B |
| Total Investing Cash Outflow | 2.1B | 1.7B | 1.6B | 2.4B | 2.6B |
| Investing Cash Flow | -468.0M | 230.0M | 53.6M | -115.0M | -512.0M |
| Cash From Borrowings | 355.0M | 39.7M | 214.0M | -- | -- |
| Dividends And Interest Paid | 82.5M | 104.0M | 53.8M | 81.8M | -- |
| Debt Repayments | 29.9M | 248.0M | 12.5M | -- | -- |
| Total Financing Cash Inflow | 361.0M | 40.0M | 214.0M | 90.3M | 147.0M |
| Total Financing Cash Outflow | 112.0M | 351.0M | 166.0M | 81.8M | -- |
| Financing Cash Flow | 249.0M | -311.0M | 48.1M | 8.5M | 147.0M |
| Net Change In Cash | -79.1M | 19.4M | 240.0M | -34.6M | -458.0M |
| Ending Cash Balance | 277.0M | 356.0M | 336.0M | 96.4M | 131.0M |
| Capex | 476.0M | 54.7M | 87.0M | 95.3M | 114.0M |