Investment in related companies and other companies (increase) decrease 58,353,160 (17,694,999) 220,502,380 - Loans to related companies (increase) decrease - - - (176,143,769) Cash payments for purchases of property, plant and equipment (79,985,188) (69,700,173) (80,278,361) (78,257,096) Cash received from sales of property, plant and equipment 592,775 3,178,768 373,307 2,229,394 Other assets (increase) decrease (58,558,589) (15,130,499) (57,382,334) (2,035,163) Net cash provided by (used in) investing activities (79,597,842) (99,346,903) 83,214,992 (254,206,634) CASH FLOWS FROM FINANCING ACTIVITIES Bank overdrafts and loans from financial institutions (decrease) (34,154,351) (476,849,023) (12,354,695) (273,108,388) Cash received - share capital - 65,304,350 - 65,304,350 Cash received - premium on share capital - 26,121,740 - 26,121,740 Loans from related companies increase - - - 14,600,000 Short-term loans and advance from related companies increase (decrease) 2,242,176 (21,134,243) (151,120,041) - Short-term loans and advance from director and employee (decrease) (10,000,000) - - - Long-term loans (decrease) (350,941,438) (509,105,806) (275,785,326) (450,355,807) Cash payment for financial advisory fee (9,345,826) - (9,345,826) - Net cash provided by (used in) financing activities (402,199,439) (915,662,982) (448,605,888) (617,438,105) Effects from exchange rate in cash and cash equivalents increase (decrease) 332,350 (10,567,832) 336,293 (10,514,229) Net increase (decrease) in cash and cash equivalents 232,897,500 (128,947,989) 231,289,368 (182,170,514) Cash and cash equivalents as at January 1 165,371,662 294,319,651 103,895,419 286,065,933 Cash and cash equivalents as at December 31 398,269,162 165,371,662 335,184,787 103,895,419 Notes to financial statements form an integral part of these statements