XML 17 R5.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated statements of cash flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of cash flows [abstract]      
Loss for the year $ (190,453,387) $ (174,016,842) $ (1,963,885)
Adjustments for:      
Bank interest income (472,189) (3,980) (8,043)
Dividend income (9,862)    
Depreciation 5,986,888 4,288,115 1,292,472
Amortization of intangible assets 1,556,091 3,058,527 1,133,564
Other finance costs 4,198,184 5,238,030 59,567
Fair value loss on convertible securities 0 29,054,669 2,846,750
Fair value loss on preference shares liabilities 60,091,353 125,398,798  
Fair value loss on financial assets at fair value through profit or loss 9,363,495 94,000  
Fair value gain on warrant liabilities (3,196,538)    
Restructuring costs in relation to diagnostic business 30,378,741    
Net foreign exchange losses/(gains) 223,927 (285,025) 280,360
Write-off on amount due from a shareholder   106,179  
Gain on bargain purchase   (117,238)  
Loss on disposal of a subsidiary   292,132  
Impairment loss on interest in joint venture     570,704
Impairment loss on amount due form a joint venture   176,227  
Loss/(gain) on disposal of property, plant and equipment 72,976 (39) 1,646
Write-off on property, plant and equipment 268,226 476,431  
Write-off on inventories 2,055,859    
Share of loss of a joint venture     1,133,321
Share-based payment on listing 89,546,601    
Equity-settled share-based payment expenses 31,580,383 22,494,918 1,617,469
Income tax expense/(credit) 7,147,104 3,732,744 (1,937,558)
Total adjustments to reconcile profit (loss) 48,337,852 19,987,646 5,026,367
Changes in:      
Increase in deferred expenses (10,885,089)    
Decrease/(increase) in inventories 1,256,133 (2,331,649) (3,745,228)
Decrease/(increase) in trade receivables 6,966,189 (24,050,811) (20,090,387)
Increase in deposits, prepayments and other receivables (1,213,944) (6,126,194) (1,093,451)
Decrease in amount due from a joint venture     18,862
Decrease/(increase) in amounts due from related companies 9,060 (9,060)  
Decrease/(increase) in other non-current assets 430,534 (499,966) (32,577)
(Decrease)/increase in trade payables (2,627,637) (3,457,215) 9,707,910
(Decrease)/increase in accrued expenses and other current liabilities (24,390,581) 27,350,803 5,962,060
(Decrease)/increase in contract liabilities (4,034,911) 2,532,659 1,485,582
Increase in other non-current liabilities 726,494    
Cash generated from/(used in) operating activities 14,574,100 13,396,213 (2,760,862)
Income taxes (paid)/refund (59,504) 20,284 (118,849)
Net cash from/(used in) operating activities 14,514,596 13,416,497 (2,879,711)
Cash flows from investing activities      
Payment for purchase of property, plant and equipment (4,948,151) (8,546,945) (2,862,902)
Proceeds from disposal of property, plant and equipment 49,938 713,523 10,890
Payment for purchase of intangible assets (1,394,553) (2,865,315) (197,159)
Payment for purchase of short-term deposits (19,920,160)    
Payment for purchase of financial assets at fair value through profit or loss (20,000,000) (10,000,000)  
Proceeds from redemption of financial assets at fair value through profit or loss 3,004,897    
Payment for acquisition, net of cash acquired (3,418,715)   (2,929,533)
Increase in amount due from a shareholder     (4,182)
Settlement of deferred consideration   (1,326,823)  
Dividend received 9,862    
Interest received 472,189 3,980 8,043
Net cash used in investing activities (46,144,693) (22,021,580) (5,974,843)
Cash flows from financing activities      
Capital element of lease rentals paid (1,877,896) (1,299,031) (610,926)
Interest element of lease rentals paid (244,085) (205,915) (49,400)
Proceeds from new trade financing 21,677,075    
Interest paid (172,978) (33) (654)
Repayment of trade financing (21,677,075)    
Proceeds from issuance of shares 116,864    
Proceeds from issuance of preference shares   25,970,000  
Proceeds from Reverse Recapitalization 146,158,422    
Proceeds from issuance of convertible securities   4,980,718 12,499,363
Payment for purchase of treasury shares (661,519)    
(Decrease)/increase in amounts due to shareholders   (128,797) 4,477
Net cash from financing activities 143,318,808 29,316,942 11,842,860
Net increase in cash and cash equivalents 111,688,711 20,711,859 2,988,306
Cash and cash equivalents at the beginning of the year 35,288,952 14,489,880 11,521,505
Effect of foreign exchange rate changes (317,468) 87,213 (19,931)
Cash and cash equivalents at the end of the year $ 146,660,195 $ 35,288,952 $ 14,489,880