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 | 1.2B | 903.0M | 1.1B | 905.0M | 1.1B |
| Revenue Growth % | 30.5% | -15.4% | 17.9% | -20.1% | -- |
| Total Revenue | 1.2B | 903.0M | 1.1B | 905.0M | 1.1B |
| Cost Of Revenue | 960.0M | 727.0M | 750.0M | 626.0M | 796.0M |
| Gross Profit | 218.0M | 176.0M | 317.0M | 279.0M | 336.0M |
| Gross Margin % | 18.5% | 19.5% | 29.7% | 30.8% | 29.7% |
| Total Operating Cost | 1.3B | 1.1B | 1.1B | 888.0M | 1.1B |
| Selling Expenses | 76.3M | 123.0M | 117.0M | 113.0M | 157.0M |
| Admin Expenses | 115.0M | 95.4M | 87.8M | 58.6M | 51.3M |
| Rd Expenses | 49.2M | 52.1M | 48.4M | 50.8M | 77.3M |
| Finance Expenses | 11.4M | 2.4M | -7.6M | -9.9M | -3.3M |
| Operating Income | -82.0M | -191.0M | 1.6M | 33.1M | 44.7M |
| Operating Margin % | -7.0% | -21.2% | 0.1% | 3.7% | 3.9% |
| Non Operating Income | 1.4M | 69.1M | 44.4M | 303,300 | 38,000 |
| Non Operating Expenses | 4.4M | 5.7M | 7.6M | 738,200 | 1.2M |
| Investment Income | -2.9M | -4.6M | -2.1M | 3.4M | 6.5M |
| Fair Value Change Income | 551,500 | 1.9M | 857,400 | 1.4M | 5.3M |
| Asset Disposal Income | 1.4M | 3.6M | 4.7M | 2.4M | 105,700 |
| Asset Impairment Loss | 19.6M | 72.7M | 35.3M | 9.5M | 10.8M |
| Other Income | 6.3M | 5.7M | 10.3M | 8.0M | 13.2M |
| Income Before Tax | -84.9M | -128.0M | 38.3M | 32.6M | 43.5M |
| Income Tax | -13.4M | -17.3M | 4.9M | -4.6M | 3.8M |
| Net Income | -71.6M | -111.0M | 33.4M | 37.2M | 39.7M |
| Net Margin % | -6.1% | -12.3% | 3.1% | 4.1% | 3.5% |
| Net Income Attributable | -77.2M | -107.0M | 34.3M | 36.1M | 38.0M |
| Minority Interest | 5.7M | -3.3M | -885,300 | 1.2M | 1.7M |
| Eps Basic | -0.36 | -0.49 | 0.22 | 0.23 | 0.24 |
| Eps Diluted | -0.36 | -0.49 | 0.22 | 0.23 | 0.24 |
| 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 | 428.0M | 512.0M | 523.0M | 581.0M | 1.0B |
| Trading Financial Assets | 41.2M | 48.8M | 10.7M | 10.3M | 240.0M |
| Accounts Receivable | 752.0M | 668.0M | 840.0M | 826.0M | 719.0M |
| Notes Receivable | 2.6M | 5.8M | 3.6M | 3.1M | 8.5M |
| Notes And Accounts Receivable | 755.0M | 674.0M | 843.0M | 830.0M | 727.0M |
| Prepayments | 36.3M | 19.2M | 19.9M | 26.6M | 7.3M |
| Inventory | 329.0M | 267.0M | 260.0M | 235.0M | 183.0M |
| Total Current Assets | 1.8B | 1.7B | 1.8B | 1.8B | 2.3B |
| Long Term Equity Investment | 25.5M | 10.5M | 3.0M | 3.0M | -- |
| Fixed Assets | 613.0M | 543.0M | 522.0M | 374.0M | 64.9M |
| Fixed Assets Total | 613.0M | 543.0M | 522.0M | 374.0M | 64.9M |
| Construction In Progress | 5.0M | 2.9M | 66.3M | 153.0M | 108.0M |
| Construction In Progress Total | 5.0M | 2.9M | 66.3M | 153.0M | 108.0M |
| Intangible Assets | 138.0M | 43.9M | 51.3M | 41.9M | 15.8M |
| Long Term Deferred Expenses | 51.3M | 48.7M | 23.3M | 10.7M | 9.6M |
| Total Non Current Assets | 1.2B | 795.0M | 902.0M | 858.0M | 354.0M |
| Total Assets | 2.9B | 2.5B | 2.8B | 2.7B | 2.7B |
| Short Term Borrowings | 322.0M | 254.0M | 161.0M | 64.4M | 38.0M |
| Accounts Payable | 346.0M | 251.0M | 297.0M | 209.0M | 284.0M |
| Advance Receipts | -- | -- | 243,700 | -- | -- |
| Contract Liabilities | 47.4M | 27.2M | 25.8M | 26.1M | 21.3M |
| Total Current Liabilities | 1.4B | 952.0M | 949.0M | 910.0M | 979.0M |
| Long Term Borrowings | 37.0M | 26.7M | 93.7M | 18.7M | -- |
| Total Non Current Liabilities | 67.4M | 50.2M | 161.0M | 132.0M | 116.0M |
| Total Liabilities | 1.4B | 1.0B | 1.1B | 1.0B | 1.1B |
| Paid In Capital | 220.0M | 156.0M | 156.0M | 156.0M | 156.0M |
| Capital Reserve | 944.0M | 988.0M | 988.0M | 988.0M | 988.0M |
| Surplus Reserve | 57.8M | 57.8M | 57.8M | 50.3M | 46.8M |
| Retained Earnings | 225.0M | 302.0M | 414.0M | 397.0M | 369.0M |
| Minority Equity | 92.5M | 28.7M | 35.6M | 25.7M | 4.8M |
| Equity Attributable | 1.4B | 1.5B | 1.6B | 1.6B | 1.6B |
| Total Equity | 1.5B | 1.5B | 1.6B | 1.6B | 1.6B |
| 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 | 1.2B | 1.2B | 1.0B | 885.0M | 1.2B |
| Tax Refunds Received | 10.2M | 4.7M | 2.6M | 4.2M | 2.0M |
| Total Operating Cash Inflow | 1.3B | 1.2B | 1.1B | 987.0M | 1.2B |
| Cash Paid For Goods | 880.0M | 735.0M | 787.0M | 780.0M | 540.0M |
| Cash Paid To Employees | 217.0M | 242.0M | 229.0M | 212.0M | 279.0M |
| Taxes Paid | 39.8M | 49.3M | 42.5M | 29.0M | 68.6M |
| Total Operating Cash Outflow | 1.3B | 1.1B | 1.2B | 1.1B | 1.1B |
| Operating Cash Flow | 38.6M | 90.2M | -57.1M | -131.0M | 119.0M |
| Total Investing Cash Inflow | 1.8B | 413.0M | 180.0M | 890.0M | 2.1B |
| Total Investing Cash Outflow | 1.9B | 483.0M | 318.0M | 1.1B | 1.8B |
| Investing Cash Flow | -128.0M | -70.3M | -138.0M | -233.0M | 273.0M |
| Cash From Borrowings | 483.0M | 248.0M | 362.0M | 31.6M | 40.8M |
| Dividends And Interest Paid | 10.8M | 13.8M | 19.7M | 7.2M | 16.2M |
| Debt Repayments | 482.0M | 251.0M | 173.0M | 35.5M | 2.5M |
| Total Financing Cash Inflow | 506.0M | 249.0M | 363.0M | 31.6M | 40.8M |
| Total Financing Cash Outflow | 512.0M | 278.0M | 222.0M | 73.4M | 47.0M |
| Financing Cash Flow | -6.8M | -29.8M | 141.0M | -41.8M | -6.1M |
| Net Change In Cash | -94.9M | -9.7M | -51.6M | -406.0M | 385.0M |
| Ending Cash Balance | 362.0M | 457.0M | 466.0M | 518.0M | 924.0M |
| Capex | 27.9M | 21.8M | 107.0M | 368.0M | 127.0M |