Profit and Loss statement, k USD, Global

Green Red
Sales revenue 1,129,737 459,905

Costs and expenses

Variable production costs 307,603 0
Feature costs 53,129 10,376
Contract manufacturing costs 180,637 210,357
Transportation and tariffs 46,916 1,059
R&D 358,500 270,000
Promotion 33,887 211,000
Administration 98,802 98,802
Costs and expenses total 1,079,474 801,594

OPERATING PROFIT BEFORE DEPR. (EBITDA) 50,262 -341,689

Depreciation from fixed assets 126,225 126,225

OPERATING PROFIT (EBIT) -75,963 -467,914

Net financing expenses 62,828 38,218

PROFIT BEFORE TAXES -138,791 -506,132

Income taxes 107,975 0

PROFIT FOR THE ROUND -246,766 -506,132

Balance sheet, k USD, Global

Green Red
ASSETS
Fixed assets 715,275 715,275
Inventory 0 0
Receivables 43,495 17,706
Cash and cash equivalents 309,246 785,476
Total assets 1,068,016 1,518,458

SHAREHOLDERS' EQUITY AND LIABILITIES

Equity
Share capital 340,000 390,000
Additional paid-in capital 0 734,342
Profit for the round -246,766 -506,132
Retained earnings 318,885 318,885
Total equity 412,118 937,095

Liabilities
Long-term loans 509,789 509,789
Short term loans (unplanned) 123,460 63,035
Payables 22,649 8,539
Total liabilities 655,897 581,363
Total shareholders' equity and liabilities 1,068,016.00 1,518,458.00

Profit and Loss statement, k USD, USA

Green Red
Sales revenue
from markets 261,144 404,997
from internal transfers 340,489 3,888
Sales revenue total 601,633 408,885

Costs and expenses

Variable production costs 307,603 0
Feature costs 6,403 9,353
Contract manufacturing costs 89,873 72,311
Transportation and tariffs 0 0
R&D 358,500 270,000
Promotion 6,280 200,000
Administration 78,802 78,802
Costs of imported products 0 0
Costs and expenses total 847,462 630,466

OPERATING PROFIT BEFORE DEPR. (EBITDA) -245,828 -221,581

Depreciation from fixed assets 126,225 126,225

OPERATING PROFIT (EBIT) -372,053 -347,806

Net financing expenses 64,703 35,837

PROFIT BEFORE TAXES -436,756 -383,643

Income taxes 0 0

PROFIT FOR THE ROUND -436,756 -383,643

Balance sheet, k USD, USA

Green Red
ASSETS
Fixed assets 715,275 715,275
Inventory 0 0
Receivables 10,054 15,592
Cash and cash equivalents 2,000 698,052
Total assets 727,329 1,428,919

SHAREHOLDERS' EQUITY AND LIABILITIES

Equity
Share capital 300,000 350,000
Additional paid-in capital 0 734,342
Profit for the round -436,756 -383,643
Retained earnings 170,287 170,287
Total equity 33,531 870,986

Liabilities
Long-term loans 509,789 509,789
Short term loans (unplanned) 123,460 0
Internal loans 45,000 45,000
Payables 15,549 3,144
Total liabilities 693,798 557,933

Total shareholders' equity and liabilities 727,329 1,428,919

PARENT COMPANY'S CASH FLOW STATEMENT, k USD

Green Red
Cash provided by operating activities
Operating profit before depreciation (EBITDA) -245,828 -221,581
Change in receivables (incr - / decr +) 2,923 -2,615
Change in inventories (incr - / decr +) 0 0
Change in payables (incr + / decr -) -6,993 -19,398
Net financing expenses -64,703 -35,837
Income taxes 0 0
Total -314,601 -279,432

Plant investments 0 0

Cash flow before financing activities -314,601 -279,432

Cash provided by financing activities

Dividends 0 0
Proceeds from equity issues and buybacks 0 784,342
Dividends received from subsidiaries 0 0
Change in long-term debt (incr + / decr -) 0 0
Change in short-term debt (incr + / decr -) 123,460 0
Change in internal loans 0 0
Total 123,460 784,342
Change in cash and cash equivalents -191,142 504,910

Cash 1.1. 193,142 193,142

Cash 31.12. 2,000 698,052

Profit and Loss statement, k USD, Asia

Green Red
Sales revenue
from markets 78,238 47,832
from internal transfers 101 0
Sales revenue total 78,339 47,832

Costs and expenses

Variable production costs 0 0
Feature costs 1,517 877
Contract manufacturing costs 90,764 138,046
Transportation and tariffs 1,706 986
R&D 0 0
Promotion 20,000 10,000
Administration 10,000 10,000
Costs of imported products 5,618 3,331
Costs and expenses total 129,605 163,238

OPERATING PROFIT BEFORE DEPR. (EBITDA) -51,266 -115,407

Depreciation from fixed assets 0 0

OPERATING PROFIT (EBIT) -51,266 -115,407

Net financing expenses -924 2,787

PROFIT BEFORE TAXES -50,342 -118,194

Income taxes 0 0

PROFIT FOR THE ROUND -50,342 -118,194

Balance sheet, k USD, Asia

Green Red
ASSETS
Fixed assets 0 0
Inventory 0 0
Receivables 3,012 1,842
Cash and cash equivalents 3,878 2,000
Total assets 6,890 3,842

SHAREHOLDERS' EQUITY AND LIABILITIES

Equity
Share capital 20,000 20,000
Profit for the round -50,342 -118,194
Retained earnings 58,614 58,614
Total equity 28,272 -39,580

Liabilities
Short term loans (unplanned) 0 63,035
Internal loans -25,000 -25,000
Payables 3,619 5,386
Total liabilities -21,381 43,421

Total shareholders' equity and liabilities 6,890 3,842

Profit and Loss statement, k USD, Europe
Green Red
Sales revenue
Sales revenue 790,355 7,077

Costs and expenses

Feature costs 45,208 147
Transportation and tariffs 45,210 73
Promotion 7,607 1,000
Administration 10,000 10,000
Costs of imported products 334,973 558
Costs and expenses total 442,998 11,778

OPERATING PROFIT BEFORE DEPR. (EBITDA) 347,357 -4,701

Depreciation from fixed assets 0 0

OPERATING PROFIT (EBIT) 347,357 -4,701

Net financing expenses -951 -406

PROFIT BEFORE TAXES 348,308 -4,294

Income taxes 107,975 0

PROFIT FOR THE ROUND 240,332 -4,294

Balance sheet, k USD, Europe

Green Red
ASSETS
Fixed assets 0 0
Receivables 30,429 272
Cash and cash equivalents 303,368 85,425
Total assets 333,797 85,697

SHAREHOLDERS' EQUITY AND LIABILITIES

Equity
Share capital 20,000 20,000
Profit for the round 240,332 -4,294
Retained earnings 89,983 89,983
Total equity 350,316 105,689

Liabilities
Short term loans (unplanned) 0 0
Internal loans -20,000 -20,000
Payables 3,481 8
Total liabilities -16,519 -19,992

Total shareholders' equity and liabilities 333,797 85,697

Ratios and key financial indicators

Ratios
Green Red
Market capitalization of the company, k USD 3,704,281 3,936,940
Shares outstanding at the end of round, k shares 30,000 35,000
Share price at the end of round, USD 123 112
Average trading price during the round, USD 183 157
Dividend yield, % 0 0
P/E ratio n/a n/a
Cumulative total shareholder return (p.a.), % -32.53 -38.54

Key financial indicators, %

Green Red
Operating profit before depreciation (EBITDA) 4.45 -74.30
Operating profit (EBIT) -6.72 -102
Return on sales (ROS) -21.84 -110
Equity ratio 38.59 61.71
Net debt to equity (gearing) 78.62 -22.69
Return on capital employed (ROCE) -6.86 -34.94
Return on equity (ROE) -46.08 -63.43
Earnings per share (EPS), USD -8.23 -14.46

Market report, global

Global market shares, %
Green Red
Total 23.73 2.50

Tech 1 23.70 2.50

Tech 2 48.61 2.55
Tech 3 0 0
Tech 4 0 0

Market report, USA

Green Red
Tech 1
Selling Price, USD 950 1,037
Number of offered features 4 4
Sales, k units 263 390
Demand, k units 263 390

Tech 2
Selling Price, USD 1,400 2,400
Number of offered features 2 1
Sales, k units 8 0
Demand, k units 8 0

Tech 3
Selling Price, USD
Number of offered features
Sales, k units
Demand, k units

Tech 4
Selling Price, USD
Number of offered features
Sales, k units
Demand, k units

USA market shares, %

Green Red
Total 4.00 5.75

Tech 1 3.88 5.76

Tech 2 54.23 2.69
Tech 3 0 0
Tech 4 0 0

Market report, Asia

Green Red
Tech 1
Selling Price, RMB 10,020 10,594
Number of offered features 4 4
Sales, k units 63 37
Demand, k units 63 37

Tech 2
Selling Price, RMB 12,000 11,000
Number of offered features 1 1
Sales, k units 0 0
Demand, k units 0 0
Tech 3
Selling Price, RMB
Number of offered features
Sales, k units
Demand, k units

Tech 4
Selling Price, RMB
Number of offered features
Sales, k units
Demand, k units

Asia market shares, %

Green Red
Total 2.15 1.24

Tech 1 2.14 1.24

Tech 2 25.35 37.07
Tech 3 0 0
Tech 4 0 0

Market report, Europe

Green Red
Tech 1
Selling Price, EUR 150 829
Number of offered features 2 4
Sales, k units 3,767 6
Demand, k units 3,767 6

Tech 2
Selling Price, EUR 1,100
Number of offered features 1
Sales, k units 1
Demand, k units 1

Tech 3
Selling Price, EUR
Number of offered features
Sales, k units
Demand, k units

Tech 4
Selling Price, EUR
Number of offered features
Sales, k units
Demand, k units
Europe market shares, %
Green Red
Total 49.84 0.08

Tech 1 49.85 0.08

Tech 2 22.52 0
Tech 3 0 0
Tech 4 0 0

Production report
In-house manufacturing, k units
Green Red
USA
Tech 1 3,468
Tech 2
Tech 3
Tech 4

Asia
Tech 1
Tech 2
Tech 3
Tech 4

Contract manufacturing, k units

USA
Tech 1 625 536
Tech 2 300 200
Tech 3
Tech 4

Asia
Tech 1
Tech 2 636 1,000
Tech 3
Tech 4

Capacity usage, %
USA
Tech 1 53
Tech 2
Tech 3
Tech 4
Free capacity 47 100
Asia
Tech 1
Tech 2
Tech 3
Tech 4
Free capacity 0 0

Origin of products sold in USA, k units

USA 271 390
Asia

Origin of products sold in Asia, k units

USA 63 37
Asia 0 0

Origin of products sold in Europe, k units

USA 3,767 6
Asia 1

Number of plants this round

USA 12 12
Asia

Number of plants next round

USA 12 12
Asia

Number of plants after next round

USA 13 15
Asia 1 2

Cost report
Logistics
Green Red
Average logistics cost per sold product, USD
Products sold in USA 0 0
Products sold in Asia 26.98 26.95
Products sold in Europe 12 12

Production cost per unit, USD

USA
Tech 1 88.70
Tech 2
Tech 3
Tech 4

Asia
Tech 1
Tech 2
Tech 3
Tech 4

Contract manufacturing cost per unit, USD

USA
Tech 1 89.97 91.23
Tech 2 112 117
Tech 3
Tech 4

Asia
Tech 1
Tech 2 143 138
Tech 3
Tech 4

Average unit cost per sold product, USD

USA
Tech 1 88.90 91.23
Tech 2 112 117
Tech 3
Tech 4
Weighted average 89.61 91.26

Asia
Tech 1 88.90 91.23
Tech 2 143 138
Tech 3
Tech 4
Weighted average 88.93 91.31

Europe
Tech 1 88.90 91.23
Tech 2 143
Tech 3
Tech 4
Weighted average 88.91 91.23

Production scrap, %
USA
Tech 1 1.71
Tech 2
Tech 3
Tech 4

Asia
Tech 1
Tech 2
Tech 3
Tech 4
Gross margin, % 47.93 51.77
Logistics details
Tech 1, k units
Green Red
USA
Production 3,468 0
Contract manufacturing 625 536
Imported from Asia 0 0
Total products 4,092.86 536.00
Sales in USA -263 -390
Exported to Asia -63.19 -36.51
Exported to Europe -3,767 -6.11
Cut production 2,670 5,940
Unsatisfied demand 0 0

Asia
Production 0 0
Contract manufacturing 0 0
Imported from USA 63.19 36.51
Total products 63.19 36.51
Sales in Asia -63.19 -36.51
Exported to USA 0 0
Exported to Europe 0 0
Cut production 0 0
Unsatisfied demand 0 0

Europe
Imported from USA 3,767 6.11
Imported from Asia 0 0
Total products 3,767.01 6.11
Sales in Europe -3,767 -6.11
Unsatisfied demand 0 0

Tech 2, k units
Green Red
USA
Production 0 0
Contract manufacturing 300 200
Imported from Asia 0 0
Total products 300.00 200.00
Sales in USA -8.31 -0.41
Exported to Asia 0 0
Exported to Europe 0 0
Cut production 396 660
Unsatisfied demand 0 0

Asia
Production 0 0
Contract manufacturing 636 1,000
Imported from USA 0 0
Total products 636.00 1,000.00
Sales in Asia -0.04 -0.06
Exported to USA 0 0
Exported to Europe -0.71 0
Cut production 0 0
Unsatisfied demand 0 0

Europe
Imported from USA 0 0
Imported from Asia 0.71 0
Total products 0.71 0.00
Sales in Europe -0.71 0
Unsatisfied demand 0 0

Tech 3, k units
Green Red
USA
Production
Contract manufacturing
Imported from Asia
Total products
Sales in USA
Exported to Asia
Exported to Europe
Cut production
Unsatisfied demand

Asia
Production
Contract manufacturing
Imported from USA
Total products
Sales in Asia
Exported to USA
Exported to Europe
Cut production
Unsatisfied demand

Europe
Imported from USA
Imported from Asia
Total products
Sales in Europe
Unsatisfied demand

Tech 4, k units
Green Red
USA
Production
Contract manufacturing
Imported from Asia
Total products
Sales in USA
Exported to Asia
Exported to Europe
Cut production
Unsatisfied demand

Asia
Production
Contract manufacturing
Imported from USA
Total products
Sales in Asia
Exported to USA
Exported to Europe
Cut production
Unsatisfied demand

Europe
Imported from USA
Imported from Asia
Total products
Sales in Europe
Unsatisfied demand

Cost report - Transportation cost incl. tariffs per sold product, USD
Green Red
USA
Tech 1 0 0
Tech 2 0 0
Tech 3
Tech 4
Asia
Tech 1 27 27
Tech 2 0 0
Tech 3
Tech 4
Europe
Tech 1 12.00 12.00
Tech 2 8
Tech 3
Tech 4
Blue Orange Grey Ochre
234,170 586,764 1,753,686 1,826,585

0 0 445,801 305,962
5,160 13,976 78,481 64,925
99,220 213,598 77,589 193,624
1,200 3,275 63,450 41,560
325,000 325,000 205,000 150,000
29,980 32,180 29,980 37,180
98,802 98,802 98,802 98,802
559,363 686,831 999,102 892,053

-325,193 -100,067 754,584 934,532

126,225 126,225 126,225 126,225

-451,418 -226,292 628,359 808,307

81,603 61,755 4,920 7,135

-533,021 -288,046 623,438 801,172

3,568 28,543 166,211 254,337

-536,589 -316,589 457,227 546,835

Blue Orange Grey Ochre

715,275 715,275 715,275 715,275

0 0 0 0
9,016 22,590 67,517 70,324
154,101 293,183 868,724 953,244
878,391 1,031,049 1,651,516 1,738,842

340,000 340,000 340,000 340,000

0 0 0 0
-536,589 -316,589 457,227 546,835
318,885 318,885 318,885 318,885
122,295 342,296 1,116,112 1,205,720

509,789 509,789 509,789 509,789

242,243 170,076 0 0
4,065 8,888 25,615 23,334
756,096 688,753 535,404 533,123
878,391.00 1,031,049.00 1,651,516.00 1,738,842.00

Blue Orange Grey Ochre

172,200 211,217 1,173,443 932,465

4,481 10,968 179,655 254,429
176,681 222,185 1,353,098 1,186,894

0 0 445,801 305,962
3,992 4,927 50,281 18,649
99,220 84,177 77,589 86,902
0 0 0 0
325,000 325,000 205,000 150,000
6,380 8,580 6,380 5,580
78,802 78,802 78,802 78,802
0 0 0 0
513,394 501,485 863,853 645,895

-336,713 -279,300 489,245 540,999

126,225 126,225 126,225 126,225

-462,938 -405,525 363,020 414,774

84,450 67,649 12,463 11,322

-547,388 -473,174 350,558 403,452

0 0 122,695 141,208

-547,388 -473,174 227,862 262,244

Blue Orange Grey Ochre

715,275 715,275 715,275 715,275

0 0 0 0
6,630 8,132 45,178 35,900
2,000 2,000 514,573 551,988
723,905 725,407 1,275,025 1,303,163

300,000 300,000 300,000 300,000

0 0 0 0
-547,388 -473,174 227,862 262,244
 170,287 170,287 170,287 170,287
-77,100 -2,887 698,150 732,531

509,789 509,789 509,789 509,789

242,243 170,076 0 0
45,000 44,998 45,000 45,000
3,974 3,430 22,086 15,843
801,005 728,294 576,875 570,632

723,905 725,407 1,275,025 1,303,163

Blue Orange Grey Ochre

-336,713 -279,300 489,245 540,999

6,347 4,845 -32,200 -22,923
0 0 0 0
-18,569 -19,112 -456 -6,699
-84,450 -67,649 -12,463 -11,322
0 0 -122,695 -141,208
-433,384 -361,216 321,431 358,847

0 0 0 0

-433,384 -361,216 321,431 358,847

0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
242,243 170,076 0 0
0 -2 0 0
242,243 170,074 0 0
-191,142 -191,142 321,431 358,847

193,142 193,142 193,142 193,142

2,000 2,000 514,573 551,988

Blue Orange Grey Ochre

53,206 361,952 580,242 104,886

0 345 0 97,178
 53,206 362,297 580,242 202,064

0 0 0 0
985 8,794 28,200 1,073
0 129,421 0 106,722
1,108 3,142 63,450 0
0 0 0 0
16,000 16,000 16,000 24,000
10,000 10,000 10,000 10,000
3,777 10,147 179,655 0
31,870 177,504 297,304 141,795

21,336 184,793 282,938 60,269

0 0 0 0

21,336 184,793 282,938 60,269

-2,453 -5,491 -7,168 -3,260

23,789 190,284 290,106 63,529

3,568 28,543 43,516 9,529

20,221 161,741 246,590 53,999

Blue Orange Grey Ochre

0 0 0 0
0 0 0 0
2,048 13,935 22,339 4,038
71,867 206,863 281,393 107,725
73,915 220,798 303,732 111,763

20,000 20,000 20,000 20,000

20,221 161,741 246,590 53,999
58,614 58,614 58,614 58,614
98,834 240,355 325,204 132,613

0 0 0 0
-25,000 -24,999 -25,000 -25,000
81 5,442 3,528 4,150
-24,919 -19,557 -21,472 -20,850

73,915 220,798 303,732 111,763

Blue Orange Grey Ochre

8,764 13,595 0 789,235

184 255 0 45,202

92 133 0 41,560
7,600 7,600 7,600 7,600
10,000 10,000 10,000 10,000
704 1,167 0 351,607
18,580 19,155 17,600 455,970

-9,816 -5,560 -17,600 333,265

0 0 0 0

-9,816 -5,560 -17,600 333,265

-393 -404 -375 -927

-9,422 -5,156 -17,225 334,191

0 0 0 103,599

-9,422 -5,156 -17,225 230,592

Blue Orange Grey Ochre

0 0 0 0
337 523 0 30,386
80,234 84,320 72,758 293,530
80,572 84,843 72,758 323,916

20,000 20,000 20,000 20,000

-9,422 -5,156 -17,225 230,592
89,983 89,983 89,983 89,983
100,561 104,827 92,758 340,575

0 0 0 0
 -20,000 -19,999 -20,000 -20,000
11 15 0 3,340
-19,989 -19,984 -20,000 -16,660

80,572 84,843 72,758 323,916

Blue Orange Grey Ochre

817,768 2,858,781 8,454,551 9,251,445
30,000 30,000 30,000 30,000
27.26 95.29 282 308
183 183 183 183
0 0 0 0
n/a n/a 18.49 16.92
-85.11 -47.93 53.99 68.50

Blue Orange Grey Ochre

-139 -17.05 43.03 51.16
-193 -38.57 35.83 44.25
-229 -53.96 26.07 29.94
13.92 33.20 67.58 69.34
489 113 -32.16 -36.78
-44.19 -20.66 44.97 56.05
-137 -63.24 51.52 58.65
-17.89 -10.55 15.24 18.23

Blue Orange Grey Ochre

1.25 3.39 37.83 31.30

1.24 3.35 37.87 31.33

3.04 45.29 0.52 0
0 0 0 0
0 0 0 0

Blue Orange Grey Ochre

 1,030 1,000 280 600
4 4 2 2
166 202 4,190 1,554
166 202 4,190 1,554

2,100 1,500 2,480

2 2 1
1 6 0
1 6 0

Blue Orange Grey Ochre

2.46 3.07 61.80 22.92

2.45 2.99 61.94 22.97

3.69 38.76 0.63 0
0 0 0 0
0 0 0 0

Blue Orange Grey Ochre

10,500 8,000 2,000 9,500

4 4 2 2
41 366 2,350 89
41 366 14,416 89

11,000
1
0
0
Blue Orange Grey Ochre
1.39 12.44 79.75 3.03

1.39 12.43 79.75 3.04

0 37.58 0 0
0 0 0 0
0 0 0 0

Blue Orange Grey Ochre

820 800 150 150

4 4 2 2
8 9 0 3,767
8 9 3,767 3,767

900
2
2
2
Blue Orange Grey Ochre
0.10 0.16 0.00 49.82

0.10 0.12 0 49.85

0 77.48 0 0
0 0 0 0
0 0 0 0

Blue Orange Grey Ochre

5,940 3,410

490 950 600 1,000

510 10 200

250 1,000
700

90 52

100 100 10 48
 0 0 0 0

167 208 4,190 1,554

41 116 2,350
250 89

8 9 2,856
2 911

12 12 12 12

12 12 12 12

12 13 12 12
1

Blue Orange Grey Ochre

0 0 0 0
27 8.58 27 0
12 11.18 11.03

75.05 89.71
92.02 87.18 90.30 86.90
106 136 117

121 107
142

92.02 87.18 76.45 89.08

106 136 117

92.07 88.56 76.45 89.08

92.02 110 76.45 107

142

92.02 110 76.45 107

92.02 87.18 93.34

142

92.02 98.37 93.34

1.67 1.71
 54.91 60.66 62.06 66.82

Blue Orange Grey Ochre

0 0 5,940 3,410
490 950 600 1,000
0 0 0 0
490.00 950.00 6,540.00 4,410.41
-166 -202 -4,190 -1,554
-41.04 -116 -2,350 0
-7.65 -9.42 0 -2,856
5,940 5,940 0 3,190
0 0 0 0

0 0 0 0
0 250 0 1,000
41.04 116 2,350 0
41.04 366.39 2,349.98 1,000.00
-41.04 -366 -2,350 -89.43
0 0 0 0
0 0 0 -911
0 0 0 0
0 0 12,066 0

7.65 9.42 0 2,856

0 0 0 911
7.65 9.42 0.00 3,766.87
-7.65 -9.42 0 -3,767
0 0 3,767 0

Blue Orange Grey Ochre

0 0 0
510 10 200
0 0 0
510.00 10.00 200.00
-0.57 -5.94 -0.10
0 0 0
0 0 0
660 660 660
0 0 0

0 0 0
 0 700 0
0 0 0
0.00 700.00 0.00
0 -0.06 0
0 0 0
0 -2.44 0
0 0 0
0 0 0

0 0 0
0 2.44 0
0.00 2.44 0.00
0 -2.44 0
0 0 0

Blue Orange Grey Ochre

Blue Orange Grey Ochre

Blue Orange Grey Ochre

0 0 0 0
0 0 0

27.00 8.58 27 0
0

12 12 11.03
8