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Right-of-use assets | 6 Months Ended
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Dec. 31, 2023
Right-of-use assets |
Right-of-use assets | 14 Right-of-use assets The analysis of the net book value of right-of-use assets by class of underlying asset is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Warehouse |  | Land use | ​ | ​
​ | ​ | Property | ​ | equipment | ​ | right | ​ | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ |  | (i) |  | (ii) |  | (iii) |  | ​
Cost: | ​ |  | ​ |  | ​ | ​ | ​ |
At July 1, 2021 |  | 1,077,417 |  | 11,702 |  | — | ​ | 1,089,119
Acquisition of a subsidiary (Note 28(b)) | ​ | — | ​ | — | ​ | 1,781,595 | ​ | 1,781,595
Additions |  | 337,717 |  | 414 |  | 815 | ​ | 338,946
Derecognition |  | (408,249) |  | (1,470) |  | — | ​ | (409,719)
Exchange adjustments |  | 6,239 |  | 2 |  | — | ​ | 6,241
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2022 |  | 1,013,124 |  | 10,648 |  | 1,782,410 | ​ | 2,806,182
Acquisition of a subsidiary (Note 28(a)) | ​ | 10,467 | ​ | — | ​ | — | ​ | 10,467
Additions |  | 718,845 |  | 143 |  | — | ​ | 718,988
Derecognition |  | (620,305) |  | — |  | — | ​ | (620,305)
Exchange adjustments |  | 35,218 |  | — |  | — | ​ | 35,218
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2023 |  | 1,157,349 |  | 10,791 |  | 1,782,410 | ​ | 2,950,550
Additions | ​ | 622,913 | ​ | — | ​ | — | ​ | 622,913
Derecognition | ​ | (113,564) | ​ | (143) | ​ | — | ​ | (113,707)
Exchange adjustments | ​ | (14,294) | ​ | — | ​ | — | ​ | (14,294)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | 1,652,404 | ​ | 10,648 | ​ | 1,782,410 | ​ | 3,445,462
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated depreciation: |  |  |  |  |  | ​ | ​ |
At July 1, 2021 |  | (359,888) |  | (1,548) |  | — | ​ | (361,436)
Charge for the year |  | (275,310) |  | (3,765) |  | (30,531) | ​ | (309,606)
Derecognition |  | 243,575 |  | 1,470 |  | — | ​ | 245,045
Exchange adjustments |  | (2,917) |  | (1) |  | — | ​ | (2,918)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2022 |  | (394,540) |  | (3,844) |  | (30,531) | ​ | (428,915)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Charge for the year |  | (285,393) |  | (3,592) |  | (45,208) | ​ | (334,193)
Derecognition |  | 384,771 |  | — |  | — | ​ | 384,771
Exchange adjustments |  | (11,660) |  | — |  | — | ​ | (11,660)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2023 |  | (306,822) |  | (7,436) |  | (75,739) | ​ | (389,997)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Charge for the period | ​ | (215,399) | ​ | (1,784) | ​ | (22,604) | ​ | (239,787)
Derecognition | ​ | 79,886 | ​ | 48 | ​ | — | ​ | 79,934
Exchange adjustments | ​ | 5,248 | ​ | — | ​ | — | ​ | 5,248
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | (437,087) | ​ | (9,172) | ​ | (98,343) | ​ | (544,602)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impairment: |  |  |  |  |  | ​ | ​ |
At July 1, 2021 |  | (37,796) |  | — |  | — | ​ | (37,796)
Derecognition | ​ | 4,249 | ​ | — | ​ | — | ​ | 4,249
Exchange adjustments |  | (1,131) |  | — |  | — | ​ | (1,131)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2022 |  | (34,678) |  | — |  | — | ​ | (34,678)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reversal |  | 3,800 |  | — |  | — | ​ | 3,800
Derecognition |  | 24,439 |  | — |  | — | ​ | 24,439
Exchange adjustments | ​ | (1,514) | ​ | — | ​ | — | ​ | (1,514)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2023 |  | (7,953) |  | — |  | — | ​ | (7,953)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derecognition | ​ | 7,858 | ​ | — | ​ | — | ​ | 7,858
Exchange adjustments | ​ | 95 | ​ | — | ​ | — | ​ | 95
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | — | ​ | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net book value: |  |  |  |  |  | ​ | ​ | ​
At June 30, 2022 |  | 583,906 |  | 6,804 |  | 1,751,879 | ​ | 2,342,589
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2023 |  | 842,574 |  | 3,355 |  | 1,706,671 | ​ | 2,552,600
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | 1,215,317 | ​ | 1,476 | ​ | 1,684,067 | ​ | 2,900,860
​ The analysis of expense items in relation to leases recognized in profit or loss is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the six
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | months ended
​ | ​ | For the year ended June 30, | ​ | December 31,
​ |  | 2021 |  | 2022 |  | 2023 |  | 2023
​ |  | RMB’000 |  | RMB’000 |  | RMB’000 | ​ | RMB’000
Depreciation charge of right-of-use assets by class of underlying asset: | ​ | ​ | ​ |  | ​ |  | ​ |
Property |  | 205,344 | ​ | 275,310 |  | 285,393 | ​ | 215,399
Warehouse equipment |  | 8,146 | ​ | 3,765 |  | 3,592 | ​ | 1,784
Land use right | ​ | — | ​ | 30,531 | ​ | 45,208 | ​ | 22,604
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 213,490 | ​ | 309,606 |  | 334,193 | ​ | 239,787
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest on lease liabilities (Note 9) |  | 26,817 | ​ | 32,991 |  | 34,396 | ​ | 25,112
Expense relating to short-term leases and other leases with remaining lease term ending on or before June 30/December 31 |  | 28,656 | ​ | 28,384 |  | 15,322 | ​ | 13,729
Variable lease payments not included in the measurement of lease liabilities |  | 2,846 | ​ | 4,648 |  | 18,614 | ​ | 24,802
COVID-19 rent concessions |  | (42,698) | ​ | (35,548) |  | — | ​ | —
​ Details of total cash outflow for leases and the maturity analysis of lease liabilities are set out in Note 22(c) and Note 24, respectively. Notes:
(i) | Property – right-of-use assets
The Group leases properties for its self-operated stores, warehouse storage and office space. The leases of self-operated stores and warehouse storage typically run for two to ten years. Leases of offices space typically run for a period of two to five years. As at June 30, 2022, 2023 and December 31, 2023, right-of-use assets related to leased properties for self-operated stores amounted to RMB333,649,000, RMB585,231,000 and RMB998,032,000, respectively. Variable lease payments based on sales Some leases of self-operated stores contain variable lease payments, which typically range from 1% to 18% of the annual or monthly sales that each store makes in excess of a certain breakpoint predetermined with landlord. These terms are common in retail stores in countries such as United states, Canada and Singapore where the Group operates.
(ii) | Warehouse equipment – right-of-use assets
The Group leases warehouse equipment, with lease terms of two to three years.
(iii) | Land use right
The Group acquired the land use right of a parcel of land located in the PRC during the year ended June 30, 2022 through the acquisition of a subsidiary as disclosed in Note 28(b), with an original lease term of 40 years.
(iv) | Rental deposits
The refundable rental deposit itself is not part of the lease payments and is in the scope of IFRS 9. Therefore, the rental deposit should be measured at fair value on initial recognition. The difference between the initial fair value and the nominal value of the deposit is an additional lease payment made by the Group and it is included in the measurement of the right-of-use assets.
(v) | COVID-19-Related Concessions
The Group has early adopted the 2020 Amendment to IFRS 16, Leases, COVID-19-Related Rent Concessions and the 2021 Amendment to IFRS16, Leases, COVID-19-Related Concessions beyond 30 June 2021, and has applied the practical expedient introduced by the Amendment to all eligible rent concessions received by the Group during the years ended June 30, 2021 and 2022.

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