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Investment in joint ventures (Tables)

12 Months Ended

Dec. 31, 2017

Text Block1 [Abstract]

Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures

		31.12.2015				31.12.2016				31.12.2017				31.12.2017
		RMB’000				RMB’000				RMB’000				US$’000
Share of (loss)/profit of joint ventures, net of tax:
Y & C Engine Co., Ltd.			(8,978	)			2,039				17,755				2,805
Copthorne Hotel Qingdao Co., Ltd. (i)			6,941				(4,465	)			—				—
MTU Yuchai Power Co., Ltd.			—				—				(8,487	)			(1,341	)
Other joint ventures			(899	)			(1,642	)			814				129
			(2,936	)			(4,068	)			10,082				1,593

		31.12.2016				31.12.2017				31.12.2017
		RMB’000				RMB’000				US$’000
Carrying amount of investments:
Y & C Engine Co., Ltd.			169,064				122,235				19,312
MTU Yuchai Power Co., Ltd.			—				66,513				10,509
Other joint ventures			7,287				7,354				1,162
			176,351				196,102				30,983

Note:

(i) Since February 23, 2016, the investment in Copthorne Hotel Qingdao Co., Ltd had been classified as asset held for sale in view of proposed disposal. The disposal was completed on October 19, 2017. (Refer to Note 22 for details).

Interest in Joint Ventures

The Group has interests in the following joint ventures:

Name of company		Principal activities		Place of incorporation/ business				Group’s effective equity interest
								31.12.2016				31.12.2017
								%				%
Held by subsidiaries
Copthorne Hotel Qingdao Co., Ltd. (“Copthorne Qingdao”)		Owns and operates a hotel in Qingdao, PRC			People’s Republic of China				30.1				—
HL Heritage Sdn. Bhd.		Property development and property investment holdings			Malaysia				30.1				30.1
Shanghai Hengshan Equatorial Hotel Management Co., Ltd.		Hotel and property management			People’s Republic of China				24.6				24.6
Y & C Engine Co., Ltd (“Y&C”)		Manufacture and sale of heavy duty diesel engines, spare parts and after-sales services			People’s Republic of China				34.4				34.4
Guangxi Yineng IOT Science & Technology Co., Ltd.		Design, development, management and marketing of an electronic operations management platform			People’s Republic of China				15.3				15.3
MTU Yuchai Power Co., Ltd (“MTU Yuchai Power”) (i)		Manufacture off-road diesel engines			People’s Republic of China				—				38.2

Note:

(i) MTU Yuchai Power was incorporated on January 18, 2017. During 2017, Yuchai had invested RMB 75.0 million (US$ 11.8 million) into the joint venture.

Summarized Financial Information of Joint Ventures and Reconciliation with Carrying Amount of Investment in Consolidated Financial Statements

The summarized financial information of the joint ventures, based on their IFRS financial statements, and reconciliation with the carrying amount of the investment in consolidated financial statements are set out below:

		31.12.2015
		Y & C				Copthorne Qingdao				Total
		RMB’000				RMB’000				RMB’000
Revenue			356,697				50,971				407,668
Depreciation and amortization			(23,453	)			(12,079	)			(35,532	)
Interest expense			(19,612	)			(8,599	)			(28,211	)
Loss for the year, representing total comprehensive loss for the year			(19,952	)			(20,311	)			(40,263	)
Proportion of the Group’s ownership			45	%			60	%
Group’s share of loss			(8,978	)			(12,187	)
Depreciation arising from fair value adjustment during purchase price allocation			—				(2,804	)
Reversal of cumulative impairment loss			—				21,932
Group’s share of (loss)/profit of significant joint ventures			(8,978	)			6,941				(2,037	)
Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											(899	)
Group’s share of loss for the year, representing the Group’s share of total comprehensive loss for the year											(2,936	)

		31.12.2016
		Y & C				Total
		RMB’000				RMB’000
Non-current assets			616,397				616,397
Current assets
- Cash and bank balances			99,014				99,014
- Others			215,246				215,246
Total assets			930,657				930,657
Non-current liabilities			(60,382	)			(60,382	)
Current liabilities
- Interest-bearing loans and borrowings			(68,800	)			(68,800	)
- Others			(425,777	)			(425,777	)
Total liabilities			(554,959	)			(554,959	)
Equity			375,698				375,698
Proportion of the Group’s ownership			45	%
Group’s share of net assets			169,064
Carrying amount of significant joint ventures			169,064				169,064
Carrying amount of other joint ventures							7,287
Carrying amount of the investment in joint ventures							176,351

		2016
		Y & C				Copthorne Qingdao*				Total
		RMB’000				RMB’000				RMB’000
Revenue			553,878				3,674				557,552
Depreciation and amortization			(22,087	)			(2,797	)			(24,884	)
Interest expense			(14,012	)			(1,337	)			(15,349	)
Profit/(loss) for the year, representing total comprehensive loss for the year			4,531				(6,664	)			(2,133	)
Proportion of the Group’s ownership			45	%			60	%
Group’s share of profit/(loss)			2,039				(3,998	)
Depreciation arising from fair value adjustment during purchase price allocation			—				(467	)
Group’s share of profit/(loss) of significant joint ventures			2,039				(4,465	)			(2,426	)
Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											(1,642	)
Group’s share of loss for the year, representing the Group’s share of total comprehensive loss for the year											(4,068	)

* On February 23, 2016, the investment in Copthorne Qingdao was classified as asset held for sale. Accordingly, the information presented includes the results of Copthorne Qingdao only for the period from January 1, 2016 to February 23, 2016.

		31.12.2017
		Y & C				MTU				Total				Total
		RMB’000				RMB’000				RMB’000				US$’000
Non-current assets			734,270				32,015				766,285				121,068
Current assets
- Cash and bank balances			199,925				113,055				312,980				49,449
- Others			367,293				22,775				390,068				61,628
Total assets			1,301,488				167,845				1,469,333				232,144
Non-current liabilities			(13,543	)			—				(13,543	)			(2,140	)
Current liabilities
- Interest-bearing loans and borrowings			(13,500	)			—				(13,500	)			(2,133	)
- Others			(842,765	)			(34,820	)			(877,585	)			(138,652	)
Total liabilities			(869,808	)			(34,820	)			(904,628	)			(142,925	)
Equity			431,680				133,025				564,705				89,219
Proportion of the Group’s ownership			45	%			50	%
Group’s share of net assets			194,256				66,513
Unrealized profit on transactions with joint venture			(72,021	)			—
Carrying amount of significant joint ventures			122,235				66,513				188,748				29,821
Carrying amount of other joint ventures											7,354				1,162
Carrying amount of the investment in joint ventures											196,102				30,983

		31.12.2017
		Y & C				MTU				Total				Total
		RMB’000				RMB’000				RMB’000				US$’000
Revenue			1,331,823				—				1,331,823				210,419
Depreciation and amortization			(20,831	)			(227	)			(21,058	)			(3,327	)
Interest expense			(28,663	)			(343	)			(29,006	)			(4,583	)
Profit/(loss) for the year, representing total comprehensive income for the year			55,982				(16,973	)			39,009				6,163
Proportion of the Group’s ownership			45	%			50	%
Group’s share of profit			25,192				(8,487	)
Unrealized profit on transactions with joint venture			(7,437	)			—
Group’s share of profit of significant joint ventures			17,755				(8,487	)			9,268				1,464
Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											814				129
Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year											10,082				1,593

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- Definition

The disclosure of share of results of joint ventures and carrying amount of investment to joint ventures.

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The disclosure of significant investments in joint ventures.

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The disclosure of the reconciliation of the summarised financial information of a joint venture accounted for using the equity method to the carrying amount of the reporting entity's interest in the joint venture. [Refer: Carrying amount [member]; Joint ventures [member]]

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2016-01-13
-Paragraph B14
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2016-03-30&anchor=para_B14_b&doctype=Appendix&seq=2
-URIDate 2016-03-31

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