Financial Performance

Summary Balance Sheet*

For the year ended 31 December (USD)
2014 2015 2016
Assets
Non-current assets
Property and equipment 98,364,116 184,953,863 290,661,449
Intangible assets 31,485 24,375 15,265
Available for sale financial asset - 1,950,000 1,950,000
Total non-current assets 98,395,601 186,928,238 292,626,714
Current assets
Inventories 4,843,570 7,167,386 17,777,071
Accounts receivable 17,601,331 16,841,330 50,789,113
Due from related parties 1,735,565 198,863 277,117
Prepayments and other receivables 7,806,274 14,937,013 32,152,163
Bank balance and cash 13,656,144 25,350,359 5,192,864
Total current assets 45,642,884 64,494,951 106,188,328
Total assets 144,038,485 251,423,189 398,815,042
Equity and Liabilities
Equity
Share capital - - 1,000,000
Share application money - - 30,900,000
Merger reserve 32,000,000 32,000,000 -6,520,807
Legal reserve 1,728,176 2,999,264 4,481,408
Retained earnings 40,100,473 48,617,203 75,047,782
Total equity 73,828,649 83,616,467 104,908,383
Liabilities
Non-current liabilities
Interest-bearing loans and borrowings 25,114,150 130,766,500 189,929,837
Total non-current liabilities 25,114,150 130,766,500 189,929,837
Current liabilities
Trade and other payables 15,818,358 28,199,971 51,157,293
Interest-bearing loans and borrowings 29,122,855 5,441,934 45,804,082
Provisions 13,641 1,513,641 2,933,915
Due to related parties 140,832 1,884,676 4,081,532
Total current liabilities 45,095,686 37,040,222 103,976,822
Total liabilities 70,209,836 167,806,722 293,906,659
Total equity and liabilities 144,038,485 251,423,189 398,815,042

*The Financial Information represented of the Group is a continuation of the existing business and reflects the carrying values of the Subsidiary as if the Subsidiary had always been consolidated from the earliest period presented even though the Company was not in existence before 22 May 2016. Any difference between the consideration paid and nominal value of the share capital of the Subsidiary is recorded as a merger reserve.