Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2018

Set out below is the information about the credit risk exposure on the Group’s trade receivables using a provision matrix:


			Trade receivables
					Days past due
As at December 31, 2017	Total		Current		0 – 90 days		91-180 days		181-365 days		>365 days
	RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000

Estimated total gross carrying amount at default		255,879		99,908		59,967		21,623		30,353		44,028
Expected credit loss		43,775		—		—		—		661		43,114


						Trade receivables
								Days past due
As at December 31, 2018	Total			Contract assets		Current		0 – 90 days			91-180 days		181-365 days			>365 days
	RMB’000			RMB’000		RMB’000		RMB’000			RMB’000		RMB’000			RMB’000

Expected credit loss rate		6.3	%		—		—		0.1	%		—		6.3	%		75.1	%
Estimated total gross carrying amount at default		483,020			44,434		281,250		47,561			25,862		47,209			36,704
Expected credit loss		30,586			—		—		30			—		2,990			27,566

The table below summarizes the maturity profile of the Group’s financial assets and liabilities based on contractual undiscounted payments.


	1 year or less		2 to 5 years		More than 5 years		Total
As at December 31, 2017	RMB’000		RMB’000		RMB’000		RMB’000

Financial assets
Trade and bills receivables		7,075,319		—		—		7,075,319
Other receivables, excluding tax recoverable		132,675		620		—		133,295
Cash and bank balances		6,029,207		—		—		6,029,207
Quoted equity securities		24,714		—		—		24,714

		13,261,915		620		—		13,262,535


Financial liabilities
Loans and borrowings		1,624,539		27,874		—		1,652,413
Trade and other payables (Note 26)		7,328,027		156,347		—		7,484,374
Other liabilities		33		46		—		79

		8,952,599		184,267		—		9,136,866


	1 year or less		2 to 5 years		More than 5 years		Total		Total
As at December 31, 2018	RMB’000		RMB’000		RMB’000		RMB’000		US$’000

Financial assets
Contract assets		—		44,434		—		44,434		6,642
Trade and bills receivables		7,419,692		—		—		7,419,692		1,109,055
Other receivables, excluding tax recoverable		137,476		—		—		137,476		20,549
Cash and bank balances		6,128,522		—		—		6,128,522		916,058
Quoted equity securities		21,876		—		—		21,876		3,270
Derivative not designated as hedges – foreign exchange forward contract		4,529		—		—		4,529		677

		13,712,095		44,434		—		13,756,529		2,056,251


Financial liabilities
Loans and borrowings		2,033,519		15,196		—		2,048,715		306,231
Trade and other payables (Note 26)		7,008,592		160,091		—		7,168,683		1,071,537
Other liabilities		14		34		—		48		7

		9,042,125		175,321		—		9,217,446		1,377,775

The Group’s exposures to foreign currency are as follows:

A 10% increase/(decrease) in the underlying prices at the reporting date would increase/(decrease) Group’s profit before tax by the following amount:

31.12.2017

31.12.2018

RMB’000

US$’000

Statement of profit or loss

2,471

2,188

327