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 | 3.0B | 4.9B | 4.8B | 4.7B | 2.5B |
| Revenue Growth % | -37.9% | 2.6% | 0.4% | 89.2% | -- |
| Total Revenue | 3.0B | 4.9B | 4.8B | 4.7B | 2.5B |
| Cost Of Revenue | 2.5B | 4.1B | 4.3B | 3.9B | 1.7B |
| Gross Profit | 507.0M | 811.0M | 468.0M | 871.0M | 848.0M |
| Gross Margin % | 16.7% | 16.6% | 9.8% | 18.4% | 33.9% |
| Total Operating Cost | 3.1B | 4.6B | 4.5B | 4.3B | 1.9B |
| Selling Expenses | 105.0M | 97.0M | 36.4M | 72.2M | 37.2M |
| Admin Expenses | 122.0M | 123.0M | 80.9M | 52.2M | 45.7M |
| Rd Expenses | 21.8M | 35.2M | -- | -- | -- |
| Finance Expenses | 34.7M | 28.4M | -11.3M | -31.8M | -57.5M |
| Operating Income | -52.6M | 232.0M | 238.0M | 450.0M | 613.0M |
| Operating Margin % | -1.7% | 4.8% | 5.0% | 9.5% | 24.5% |
| Non Operating Income | 3.2M | 1.4M | 1.7M | 272,500 | 282,600 |
| Non Operating Expenses | 791,600 | 5.1M | 746,100 | 2.6M | 109,200 |
| Investment Income | 42.8M | 2.4M | -33.0M | -22.8M | 20.4M |
| Fair Value Change Income | -981,200 | -7.7M | -1.1M | 389,700 | 413,800 |
| Asset Disposal Income | 1,200 | 17,600 | -- | 1,500 | 51,000 |
| Asset Impairment Loss | 265.0M | 203.0M | 125.0M | 174.0M | 10.5M |
| Other Income | 2.2M | 2.6M | 683,100 | 914,600 | 311,200 |
| Income Before Tax | -50.2M | 228.0M | 239.0M | 448.0M | 613.0M |
| Income Tax | 65.7M | 77.7M | 73.3M | 136.0M | 147.0M |
| Net Income | -116.0M | 150.0M | 166.0M | 312.0M | 467.0M |
| Net Margin % | -3.8% | 3.1% | 3.5% | 6.6% | 18.7% |
| Net Income Attributable | -187.0M | 87.7M | 164.0M | 312.0M | 466.0M |
| Minority Interest | 71.1M | 62.5M | 1.5M | -9,900 | 60,400 |
| Eps Basic | -0.27 | 0.13 | 0.23 | 0.44 | 0.67 |
| Eps Diluted | -0.27 | 0.13 | 0.23 | 0.44 | 0.67 |
| 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 | 461.0M | 530.0M | 674.0M | 1.1B | 2.6B |
| Trading Financial Assets | -- | 2.3M | -- | 290,000 | -- |
| Accounts Receivable | 611.0M | 904.0M | 92.0M | 71.1M | 2.0M |
| Notes Receivable | 72.2M | 46.2M | -- | -- | -- |
| Notes And Accounts Receivable | 683.0M | 950.0M | 92.0M | 71.1M | 2.0M |
| Prepayments | 80.4M | 88.6M | 13.8M | 80.1M | 5.2M |
| Inventory | 2.7B | 3.5B | 3.6B | 3.9B | 3.4B |
| Total Current Assets | 4.6B | 5.5B | 4.7B | 5.5B | 6.4B |
| Long Term Equity Investment | 499.0M | 585.0M | 605.0M | 703.0M | 802.0M |
| Fixed Assets | 2.0B | 1.8B | 503.0M | 3.7M | 2.9M |
| Fixed Assets Total | 2.0B | 1.8B | 503.0M | 3.7M | 2.9M |
| Construction In Progress | 808.0M | 136.0M | 234.0M | 157.0M | 68.8M |
| Construction In Progress Total | 808.0M | 138.0M | 234.0M | 157.0M | 68.8M |
| Intangible Assets | 57.0M | 26.7M | 3.4M | 3.3M | 2.9M |
| Long Term Deferred Expenses | -- | 677,900 | -- | 196,100 | 871,700 |
| Total Non Current Assets | 4.0B | 3.1B | 1.5B | 1.0B | 982.0M |
| Total Assets | 8.6B | 8.7B | 6.2B | 6.5B | 7.4B |
| Short Term Borrowings | 180.0M | 415.0M | -- | -- | -- |
| Accounts Payable | 1.1B | 1.2B | 666.0M | 551.0M | 535.0M |
| Advance Receipts | 58.1M | 72.4M | 32.8M | 15.6M | 2.8M |
| Contract Liabilities | 500.0M | 465.0M | 987.0M | 1.3B | 2.2B |
| Total Current Liabilities | 3.0B | 2.9B | 2.3B | 2.8B | 3.8B |
| Long Term Borrowings | 1.0B | 387.0M | 100.0M | -- | -- |
| Total Non Current Liabilities | 1.1B | 478.0M | 106.0M | 8.3M | 17.2M |
| Total Liabilities | 4.1B | 3.3B | 2.4B | 2.8B | 3.8B |
| Paid In Capital | 701.0M | 701.0M | 701.0M | 701.0M | 701.0M |
| Capital Reserve | 11.0M | 515.0M | 11.8M | 10.5M | 10.3M |
| Surplus Reserve | 302.0M | 318.0M | 312.0M | 297.0M | 260.0M |
| Retained Earnings | 2.6B | 3.0B | 2.8B | 2.7B | 2.5B |
| Minority Equity | 904.0M | 826.0M | 12.5M | 1.4M | 1.5M |
| Equity Attributable | 3.6B | 4.5B | 3.8B | 3.7B | 3.5B |
| Total Equity | 4.5B | 5.3B | 3.8B | 3.7B | 3.5B |
| 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 | 3.4B | 4.3B | 4.9B | 4.8B | 1.9B |
| Tax Refunds Received | 1.1M | 12.5M | 81.6M | 75.9M | 1.8M |
| Total Operating Cash Inflow | 3.4B | 4.4B | 5.1B | 5.5B | 2.4B |
| Cash Paid For Goods | 1.7B | 4.0B | 4.9B | 5.3B | 1.2B |
| Cash Paid To Employees | 152.0M | 150.0M | 69.7M | 49.4M | 41.1M |
| Taxes Paid | 312.0M | 368.0M | 341.0M | 538.0M | 535.0M |
| Total Operating Cash Outflow | 2.4B | 4.9B | 5.4B | 6.7B | 2.2B |
| Operating Cash Flow | 996.0M | -450.0M | -294.0M | -1.1B | 199.0M |
| Total Investing Cash Inflow | 73.0M | 141.0M | 120.0M | 17.1M | 569.0M |
| Total Investing Cash Outflow | 1.1B | 364.0M | 347.0M | 282.0M | 69.6M |
| Investing Cash Flow | -992.0M | -223.0M | -227.0M | -265.0M | 499.0M |
| Cash From Borrowings | 1.3B | 940.0M | 267.0M | 120.0M | -- |
| Dividends And Interest Paid | 40.7M | 68.6M | 72.7M | 107.0M | 105.0M |
| Debt Repayments | 838.0M | 520.0M | 167.0M | 164.0M | -- |
| Total Financing Cash Inflow | 1.3B | 986.0M | 274.0M | 120.0M | -- |
| Total Financing Cash Outflow | 1.4B | 636.0M | 240.0M | 272.0M | 106.0M |
| Financing Cash Flow | -98.5M | 350.0M | 33.9M | -152.0M | -106.0M |
| Net Change In Cash | -94.6M | -322.0M | -486.0M | -1.5B | 592.0M |
| Ending Cash Balance | 369.0M | 463.0M | 647.0M | 1.1B | 2.6B |
| Capex | 1.0B | 241.0M | 220.0M | 71.4M | 49.6M |