Financial Performance

Summary Balance Sheet*

(USD)
2016 2017 2018
Assets
Non-current assets
Property and equipment 290,661,449 322,441,975 710,704,139
Intangible assets 15,265 544,540 456,189
Investment in a joint venture - - 2,184,382
Available for sale financial asset 1,950,000 1,950,000 -
Other non-current assets - - 1,202,586
Total non-current assets 292,626,714 324,936,515 714,547,296
Current assets
Inventories 17,777,071 20,919,477 52,508,041
Accounts receivable 50,789,113 65,987,303 100,757,512
Contract assets - - 36,369,649
Due from related parties 277,117 305,616 377,345
Prepayments and other receivables 11,339,324 38,773,075 49,352,692
Bank balance and cash 5,192,864 136,964,417 130,875,239
Total current assets 106,188,328 262,949,888 370,240,478
Total assets 398,815,042 587,886,403 1,084,787,774
Equity and Liabilities
Equity
Share capital 1,000,000 42,203,030 43,793,882
Share application money 30,900,000 158,224,346 178,746,337
Merger reserve -6,520,807 -6,520,807 -6,520,807
Legal reserve 4,481,408 6,400,000 6,400,000
Retained earnings 75,047,782 117,703,129 188,693,787
Equity attributable to equity holders of the Parent 104,908,383 318,009,698 411,113,199
Non-controlling interests - - 8,987,787
Total equity 104,908,383 318,009,698 420,100,986
Liabilities
Non-current liabilities
Interest-bearing loans and borrowings 189,929,837 155,155,414 510,010,564
Finance lease liability - - 5,391,573
Provisions 101,368 620,083 12,331,933
Derivative financial instrument - - 3,123,799
Total non-current liabilities 190,031,205 155,775,497 530,857,869
Current liabilities
Trade and other payables 51,157,293 52,664,243 85,423,424
Interest-bearing loans and borrowings 45,804,082 57,333,621 45,258,354
Provisions 2,933,915 1,836,000 1,874,654
Due to related parties 4,081,532 2,267,344 56,106
Derivative financial instrument - - 1,216,381
Total current liabilities 103,976,822 114,101,208 133,828,919
Total liabilities 293,906,659 269,876,705 664,686,788
Total equity and liabilities 398,815,042 587,886,403 1,084,787,774

*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.