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 | 410.0M | 91.6M | 159.0M | 196.0M | 166.0M |
| Revenue Growth % | 347.4% | -42.4% | -18.9% | 18.1% | -- |
| Total Revenue | 410.0M | 91.6M | 159.0M | 196.0M | 166.0M |
| Cost Of Revenue | 360.0M | 116.0M | 122.0M | 139.0M | 283.0M |
| Gross Profit | 50.0M | -24.4M | 37.0M | 57.0M | -117.0M |
| Gross Margin % | 12.2% | -26.6% | 23.3% | 29.1% | -70.5% |
| Total Operating Cost | 725.0M | 379.0M | 424.0M | 451.0M | 825.0M |
| Selling Expenses | 1.4M | 418,700 | 2.0M | 2.8M | 8.4M |
| Admin Expenses | 87.5M | 83.9M | 110.0M | 99.5M | 97.3M |
| Rd Expenses | 7.9M | -- | -- | 7.7M | 26.0M |
| Finance Expenses | 16.0M | 38.3M | 54.5M | 67.0M | 58.3M |
| Operating Income | -213.0M | -806.0M | -186.0M | -243.0M | -616.0M |
| Operating Margin % | -52.0% | -879.5% | -117.0% | -124.0% | -371.1% |
| Non Operating Income | 11.8M | 2.2M | 5.1M | 219,300 | 235,100 |
| Non Operating Expenses | 5.8M | 13.5M | 22.2M | 5.4M | 873,300 |
| Investment Income | 212,600 | 132.0M | 78.2M | 9.1M | 34.7M |
| Fair Value Change Income | -- | -- | -- | -- | -- |
| Asset Disposal Income | 1.1M | 781,600 | 2,100 | 1.1M | 1.2M |
| Asset Impairment Loss | 46.1M | -33.7M | 33.6M | -13.9M | 233.0M |
| Other Income | 100.0M | -652.0M | 594,500 | 2.5M | 7.1M |
| Income Before Tax | -207.0M | -817.0M | -203.0M | -248.0M | -617.0M |
| Income Tax | 5.3M | 14.6M | -7.3M | 2.5M | 27.4M |
| Net Income | -213.0M | -832.0M | -195.0M | -250.0M | -644.0M |
| Net Margin % | -52.0% | -907.9% | -122.6% | -127.6% | -388.0% |
| Net Income Attributable | -228.0M | -813.0M | -183.0M | -228.0M | -593.0M |
| Minority Interest | 15.3M | -18.7M | -12.7M | -22.5M | -51.2M |
| Eps Basic | -0.26 | -2.02 | -0.53 | -0.68 | -1.78 |
| Eps Diluted | -0.26 | -2.02 | -0.53 | -0.68 | -1.78 |
| 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 | 263.0M | 469.0M | 19.5M | 47.5M | 54.9M |
| Trading Financial Assets | -- | -- | -- | -- | -- |
| Accounts Receivable | 441.0M | 232.0M | 280.0M | 258.0M | 313.0M |
| Notes Receivable | 11.3M | -- | -- | -- | 1.9M |
| Notes And Accounts Receivable | 452.0M | 232.0M | 280.0M | 258.0M | 315.0M |
| Prepayments | 7.6M | 1.0M | 11.2M | 7.2M | 9.0M |
| Inventory | 75.1M | 20.5M | 80.5M | 77.1M | 82.1M |
| Total Current Assets | 974.0M | 971.0M | 1.2B | 1.3B | 1.4B |
| Long Term Equity Investment | 2.0M | -- | 388.0M | 370.0M | 376.0M |
| Fixed Assets | 133.0M | 57.4M | 35.3M | 42.5M | 43.8M |
| Fixed Assets Total | 133.0M | 57.4M | 35.3M | 42.5M | 43.8M |
| Construction In Progress | 10.5M | 3.0M | 41.0M | 22.9M | 10.9M |
| Construction In Progress Total | 10.5M | 3.0M | 41.0M | 22.9M | 10.9M |
| Intangible Assets | 31.8M | 18.2M | 20.3M | 25.2M | 33.1M |
| Long Term Deferred Expenses | 23.3M | 1.6M | 385,900 | 559,300 | 424,100 |
| Total Non Current Assets | 789.0M | 202.0M | 1.1B | 1.2B | 1.2B |
| Total Assets | 1.8B | 1.2B | 2.3B | 2.5B | 2.7B |
| Short Term Borrowings | 53.0M | 33.0M | 246.0M | 246.0M | 253.0M |
| Accounts Payable | 387.0M | 151.0M | 814.0M | 794.0M | 776.0M |
| Advance Receipts | -- | -- | -- | -- | -- |
| Contract Liabilities | 13.2M | 10.5M | 95.3M | 82.6M | 88.1M |
| Total Current Liabilities | 1.1B | 658.0M | 1.8B | 1.8B | 1.7B |
| Long Term Borrowings | 1.5M | -- | 65.0M | 66.4M | 102.0M |
| Total Non Current Liabilities | 262.0M | 2.5M | 189.0M | 410.0M | 428.0M |
| Total Liabilities | 1.3B | 660.0M | 2.0B | 2.2B | 2.1B |
| Paid In Capital | 884.0M | 877.0M | 383.0M | 333.0M | 336.0M |
| Capital Reserve | 934.0M | 920.0M | 404.0M | 212.0M | 223.0M |
| Surplus Reserve | 61.3M | 61.3M | 61.3M | 61.3M | 61.3M |
| Retained Earnings | -1.6B | -1.4B | -532.0M | -350.0M | -122.0M |
| Minority Equity | 131.0M | -3.2M | -15.9M | 2.7M | 25.1M |
| Equity Attributable | 289.0M | 516.0M | 327.0M | 278.0M | 506.0M |
| Total Equity | 420.0M | 512.0M | 311.0M | 281.0M | 531.0M |
| 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 | 339.0M | 127.0M | 142.0M | 252.0M | 724.0M |
| Tax Refunds Received | 500.00 | -- | -- | 483,600 | 1.1M |
| Total Operating Cash Inflow | 380.0M | 136.0M | 151.0M | 288.0M | 806.0M |
| Cash Paid For Goods | 295.0M | 48.7M | 98.4M | 152.0M | 254.0M |
| Cash Paid To Employees | 69.6M | 72.8M | 48.6M | 60.9M | 73.5M |
| Taxes Paid | 4.7M | 7.2M | 4.6M | 10.5M | 67.0M |
| Total Operating Cash Outflow | 452.0M | 167.0M | 205.0M | 268.0M | 533.0M |
| Operating Cash Flow | -72.1M | -30.4M | -54.2M | 20.0M | 273.0M |
| Total Investing Cash Inflow | 202.0M | 8.0M | 51.0M | 1.3M | 31.9M |
| Total Investing Cash Outflow | 269.0M | 179.0M | 14.7M | 26.7M | 155.0M |
| Investing Cash Flow | -66.8M | -171.0M | 36.3M | -25.4M | -123.0M |
| Cash From Borrowings | 32.0M | -- | -- | -- | 229.0M |
| Dividends And Interest Paid | 16.4M | 498,900 | 6.5M | 22.9M | 41.2M |
| Debt Repayments | 2.9M | 15.9M | 2.0M | 11.2M | 465.0M |
| Total Financing Cash Inflow | 52.7M | 513.0M | 2.0M | 73.0M | 229.0M |
| Total Financing Cash Outflow | 20.8M | 16.4M | 9.2M | 41.6M | 535.0M |
| Financing Cash Flow | 32.0M | 496.0M | -7.2M | 31.4M | -306.0M |
| Net Change In Cash | -107.0M | 295.0M | -25.1M | 26.0M | -157.0M |
| Ending Cash Balance | 199.0M | 306.0M | 11.3M | 36.3M | 10.3M |
| Capex | 58.9M | 19.0M | 14.7M | 26.7M | 34.9M |