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 | 1.3B | 1.2B | 1.0B | 1.1B |
| Revenue Growth % | -4.6% | 8.7% | 16.0% | -3.3% | -- |
| Total Revenue | 1.2B | 1.3B | 1.2B | 1.0B | 1.1B |
| Cost Of Revenue | 602.0M | 545.0M | 521.0M | 376.0M | 461.0M |
| Gross Profit | 622.0M | 738.0M | 659.0M | 641.0M | 591.0M |
| Gross Margin % | 50.8% | 57.5% | 55.8% | 63.0% | 56.2% |
| Total Operating Cost | 1.2B | 1.1B | 1.0B | 797.0M | 809.0M |
| Selling Expenses | 78.0M | 71.7M | 64.1M | 70.1M | 42.8M |
| Admin Expenses | 155.0M | 139.0M | 116.0M | 115.0M | 103.0M |
| Rd Expenses | 305.0M | 297.0M | 249.0M | 207.0M | 173.0M |
| Finance Expenses | 52.2M | 40.9M | 24.1M | 9.8M | 5.7M |
| Operating Income | 14.7M | 160.0M | 190.0M | 242.0M | 259.0M |
| Operating Margin % | 1.2% | 12.5% | 16.1% | 23.8% | 24.6% |
| Non Operating Income | 207,500 | 48,300 | 199,000 | 1.1M | 106,900 |
| Non Operating Expenses | 962,800 | 3.1M | 1.7M | 999,000 | 1.6M |
| Investment Income | -19.3M | -11.6M | -14.7M | 4.0M | 9.2M |
| Fair Value Change Income | 13.8M | -5.7M | -520,000 | -3.4M | 789,700 |
| Asset Disposal Income | -- | -- | -- | 9,900 | 6,300 |
| Asset Impairment Loss | 17.5M | 19.9M | 21.5M | 14.6M | 9.4M |
| Other Income | 38.7M | 30.0M | 30.3M | 20.9M | 5.7M |
| Income Before Tax | 13.9M | 157.0M | 189.0M | 242.0M | 257.0M |
| Income Tax | -23.0M | 15.9M | 15.3M | 30.8M | 19.9M |
| Net Income | 37.0M | 141.0M | 173.0M | 211.0M | 238.0M |
| Net Margin % | 3.0% | 11.0% | 14.7% | 20.7% | 22.6% |
| Net Income Attributable | 54.5M | 189.0M | 202.0M | 240.0M | 244.0M |
| Minority Interest | -17.6M | -47.9M | -29.0M | -28.2M | -6.4M |
| Eps Basic | 0.13 | 0.45 | 0.48 | 0.58 | 0.60 |
| Eps Diluted | 0.13 | 0.45 | 0.48 | 0.58 | 0.60 |
| 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 | 961.0M | 765.0M | 998.0M | 1.2B | 337.0M |
| Trading Financial Assets | -- | -- | 50.6M | 50.1M | 763,400 |
| Accounts Receivable | 316.0M | 328.0M | 283.0M | 303.0M | 373.0M |
| Notes Receivable | 200,000 | 1.4M | 2.4M | 778,500 | 500,000 |
| Notes And Accounts Receivable | 317.0M | 329.0M | 285.0M | 304.0M | 374.0M |
| Prepayments | 62.2M | 105.0M | 52.4M | 44.4M | 35.8M |
| Inventory | 364.0M | 365.0M | 345.0M | 280.0M | 200.0M |
| Total Current Assets | 1.8B | 1.6B | 1.8B | 1.9B | 993.0M |
| Long Term Equity Investment | 123.0M | 39.0M | 43.5M | 35.4M | 52.3M |
| Fixed Assets | 1.5B | 1.5B | 718.0M | 402.0M | 238.0M |
| Fixed Assets Total | 1.5B | 1.5B | 718.0M | 402.0M | 238.0M |
| Construction In Progress | 1.2B | 1.2B | 1.7B | 1.7B | 1.1B |
| Construction In Progress Total | 1.2B | 1.2B | 1.7B | 1.7B | 1.1B |
| Intangible Assets | 79.5M | 89.5M | 93.7M | 81.6M | 80.8M |
| Long Term Deferred Expenses | 36.4M | 43.1M | 30.2M | 26.9M | 25.8M |
| Total Non Current Assets | 4.0B | 3.5B | 3.2B | 2.7B | 2.0B |
| Total Assets | 5.8B | 5.2B | 5.0B | 4.7B | 3.0B |
| Short Term Borrowings | 110.0M | 115.0M | 157.0M | 124.0M | 257.0M |
| Accounts Payable | 166.0M | 211.0M | 188.0M | 217.0M | 208.0M |
| Advance Receipts | -- | -- | -- | -- | -- |
| Contract Liabilities | 25.6M | 28.0M | 24.0M | 29.5M | 20.3M |
| Total Current Liabilities | 1.3B | 1.1B | 922.0M | 812.0M | 583.0M |
| Long Term Borrowings | 730.0M | 1.1B | 1.2B | 1.2B | 619.0M |
| Total Non Current Liabilities | 1.7B | 1.7B | 1.7B | 1.6B | 645.0M |
| Total Liabilities | 3.0B | 2.7B | 2.6B | 2.4B | 1.2B |
| Paid In Capital | 423.0M | 422.0M | 422.0M | 422.0M | 410.0M |
| Capital Reserve | 1.1B | 982.0M | 1.1B | 1.0B | 739.0M |
| Surplus Reserve | 98.6M | 85.5M | 67.2M | 58.5M | 44.1M |
| Retained Earnings | 968.0M | 961.0M | 830.0M | 685.0M | 511.0M |
| Minority Equity | 325.0M | 42.7M | 49.0M | 50.0M | 63.4M |
| Equity Attributable | 2.5B | 2.4B | 2.4B | 2.2B | 1.7B |
| Total Equity | 2.8B | 2.4B | 2.4B | 2.2B | 1.7B |
| 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 | 1.0B | 976.0M | 1.1B | 872.0M |
| Tax Refunds Received | 44.4M | 56.5M | 44.7M | 78.5M | 46.3M |
| Total Operating Cash Inflow | 1.3B | 1.1B | 1.1B | 1.2B | 926.0M |
| Cash Paid For Goods | 269.0M | 204.0M | 319.0M | 341.0M | 356.0M |
| Cash Paid To Employees | 284.0M | 266.0M | 241.0M | 210.0M | 169.0M |
| Taxes Paid | 63.2M | 82.0M | 74.1M | 61.4M | 39.2M |
| Total Operating Cash Outflow | 929.0M | 872.0M | 881.0M | 870.0M | 749.0M |
| Operating Cash Flow | 325.0M | 246.0M | 195.0M | 311.0M | 176.0M |
| Total Investing Cash Inflow | 90.8M | 156.0M | 134.0M | 612.0M | 332.0M |
| Total Investing Cash Outflow | 713.0M | 596.0M | 574.0M | 1.5B | 1.2B |
| Investing Cash Flow | -623.0M | -440.0M | -440.0M | -872.0M | -890.0M |
| Cash From Borrowings | 895.0M | 802.0M | 678.0M | 1.6B | 882.0M |
| Dividends And Interest Paid | 118.0M | 136.0M | 115.0M | 100.0M | 54.3M |
| Debt Repayments | 850.0M | 787.0M | 560.0M | 474.0M | 211.0M |
| Total Financing Cash Inflow | 1.5B | 926.0M | 746.0M | 1.9B | 969.0M |
| Total Financing Cash Outflow | 1.0B | 951.0M | 685.0M | 574.0M | 265.0M |
| Financing Cash Flow | 498.0M | -24.5M | 61.6M | 1.4B | 704.0M |
| Net Change In Cash | 201.0M | -217.0M | -181.0M | 819.0M | -6.3M |
| Ending Cash Balance | 955.0M | 754.0M | 971.0M | 1.2B | 333.0M |
| Capex | 453.0M | 257.0M | 404.0M | 727.0M | 910.0M |