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Investment in joint ventures (Tables)
 12 Months Ended
Dec. 31, 2019
Investments accounted for using equity method [abstract]  
Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures
 
 
  
31.12.2017
 
  
31.12.2018
 
  
31.12.2019
 
  
31.12.2019
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
US$’000
 
Share of profit/(loss) of joint ventures, net of tax:
  
   
  
   
  
   
  
   
Y & C Engine Co., Ltd
  
 
17,755
 
  
 
17,612
 
  
 
28,484
 
  
 
4,020
 
MTU Yuchai Power Co., Ltd.
  
 
(8,487
) 
  
 
(6,882
) 
  
 
594
 
  
 
84
 
Eberspaecher Yuchai Exhaust Technology Co., Ltd
  
 
—  
 
  
 
—  
 
  
 
(9,366
) 
  
 
(1,322
) 
Other joint ventures.
  
 
814
 
  
 
963
 
  
 
(497
) 
  
 
(70
) 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
  
 
10,082
 
  
 
11,693
 
  
 
19,215
 
  
 
2,712
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
     
 
  
 
 
  
31.12.2018
 
  
31.12.2019
 
  
31.12.2019
 
 
  
 
 
  
RMB’000
 
  
RMB’000
 
  
US$’000
 
Carrying amount of investments:
  
   
  
   
  
   
  
   
Y & C Engine Co., Ltd
  
 
 
 
  
 
155,681
 
  
 
176,082
 
  
 
24,852
 
MTU Yuchai Power Co., Ltd
  
 
 
 
  
 
59,632
 
  
 
59,931
 
  
 
8,459
 
Eberspaecher Yuchai Exhaust Technology Co., Ltd
(1)
  
 
 
 
  
 
—  
 
  
 
31,794
 
  
 
4,487
 
Other joint ventures
  
   
  
 
7,499
 
  
 
6,184
 
  
 
873
 
 
  
   
  
 
 
 
  
 
 
 
  
 
 
 
 
  
 
 
 
  
 
222,812
 
  
 
273,991
 
  
 
38,671
 
 
  
   
  
 
 
 
  
 
 
 
  
 
 
 
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
 
 
  
 
 
 
 
 
31.12.2018
 
 
31.12.2019
 
 
  
 
 
 
 
 
%
 
 
%
 
Held by subsidiaries
  
 
 
 
 
 
 
 
 
 
 
 
 
 
     
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”)
  
Manufacture
off-road
diesel engines
 
 
People’s
Republic of
China
 
 
 
 
 
38.2
 
 
 
38.2
 
     
Eberspaecher Yuchai Exhaust Technology Co. Ltd (“Eberspaecher Yuchai”)
  
Application development, production, sales and service on engine exhaust control systems
 
 
People’s
Republic of
China
 
 
 
 
 
37.4
 
 
 
37.4
 
The Group assess impairment of investments when adverse events or changes in circumstances indicate that the carrying amounts may not be recoverable. If the recoverable amount of investment is below its carrying amount, an impairment charge is recognized. The Group performs evaluation of the value of its investment using a discounted cash flows projection or fair value less cost of disposal where appropriate. The projection will be performed using historical trends as a reference and certain assumptions to project the future streams of cash flows.
Summarized Financial Information of Joint Ventures and Reconciliation with Carrying Amount of Investment in Consolidated Financial Statements
 
 
  
31.12.2017
 
 
  
Y & C
 
 
MTU
Yuchai Power
 
 
Total
 
 
  
RMB’000
 
 
RMB’000
 
 
RMB’000
 
Revenue
  
 
1,331,823
 
 
 
—  
 
 
 
1,331,823
 
Depreciation and amortization
  
 
(20,831
) 
 
 
(227
) 
 
 
(21,058
) 
Interest expense
  
 
(28,663
) 
 
 
(343
) 
 
 
(29,006
) 
Profit/(loss) for the year, representing total comprehensive income for the year
  
 
55,982
 
 
 
(16,973
) 
 
 
39,009
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Proportion of the Group’s ownership
  
 
45
% 
 
 
50
% 
 
   
 
  
 
 
 
 
 
 
 
 
   
Group’s share of profit/(loss)
  
 
25,192
 
 
 
(8,487
) 
 
   
Unrealized profit on transactions with joint venture
  
 
(7,437
) 
 
 
—  
 
 
   
 
  
 
 
 
 
 
 
 
 
   
Group’s share of profit/(loss) of significant joint ventures
  
 
17,755
 
 
 
(8,487
) 
 
 
9,268
 
 
  
 
 
 
 
 
 
 
 
   
Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive income of other joint ventures
  
   
 
   
 
 
814
 
 
  
   
 
   
 
 
 
 
Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year
  
   
 
   
 
 
10,082
 
 
  
   
 
   
 
 
 
 
 
 
  
31.12.2018
 
 
  
Y & C
 
 
MTU
Yuchai Power
 
 
Total
 
 
  
RMB’000
 
 
RMB’000
 
 
RMB’000
 
Non-current
assets
  
 
755,671
 
 
 
72,342
 
 
 
828,013
 
Current assets
  
   
 
   
 
   
- Cash and bank balances
  
 
113,061
 
 
 
21,707
 
 
 
134,768
 
- Others
  
 
646,751
 
 
 
209,022
 
 
 
855,773
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Total assets
  
 
1,515,483
 
 
 
303,071
 
 
 
1,818,554
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Non-current
liabilities
  
 
(46,603
) 
 
 
—  
 
 
 
(46,603
) 
Current liabilities
  
   
 
   
 
   
- Loans and borrowings
  
 
(51,534
) 
 
 
—  
 
 
 
(51,534
) 
- Others
  
 
(942,306
) 
 
 
(174,242
) 
 
 
(1,116,548
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Total liabilities
  
 
(1,040,443
) 
 
 
(174,242
) 
 
 
(1,214,685
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Equity
  
 
475,040
 
 
 
128,829
 
 
 
603,869
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Proportion of the Group’s ownership
  
 
45
% 
 
 
50
% 
 
   
 
  
 
 
 
 
 
 
 
 
   
Group’s share of net assets
  
 
213,768
 
 
 
64,415
 
 
   
Unrealized profit on transactions with joint venture
  
 
(58,087
) 
 
 
(4,783
) 
 
   
 
  
 
 
 
 
 
 
 
 
   
Carrying amount of significant joint ventures
  
 
155,681
 
 
 
59,632
 
 
 
215,313
 
 
  
 
 
 
 
 
 
 
 
   
Carrying amount of other joint ventures
  
   
 
   
 
 
7,499
 
 
  
   
 
   
 
 
 
 
Carrying amount of the investment in joint ventures
  
   
 
   
 
 
222,812
 
 
  
   
 
   
 
 
 
 
 
 
 
  
31.12.2018
 
 
  
Y & C
 
 
MTU
Yuchai Power
 
 
Total
 
 
  
RMB’000
 
 
RMB’000
 
 
RMB’000
 
Revenue
  
 
1,443,238
 
 
 
160,580
 
 
 
1,603,818
 
Depreciation and amortization
  
 
(45,254
) 
 
 
(3,744
) 
 
 
(48,998
) 
Interest expense
  
 
(24,605
) 
 
 
(1,689
) 
 
 
(26,294
) 
Profit/(loss) for the year, representing total comprehensive income for the year
  
 
43,359
 
 
 
(4,197
) 
 
 
39,162
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Proportion of the Group’s ownership
  
 
45
% 
 
 
50
% 
 
   
 
  
 
 
 
 
 
 
 
 
   
Group’s share of profit/(loss)
  
 
19,512
 
 
 
(2,099
) 
 
   
Unrealized profit on transactions with joint venture
  
 
(1,900
) 
 
 
(4,783
) 
 
   
 
  
 
 
 
 
 
 
 
 
   
Group’s share of profit/(loss) of significant joint ventures
  
 
17,612
 
 
 
(6,882
) 
 
 
10,730
 
 
  
 
 
 
 
 
 
 
 
   
Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive income of other joint ventures
  
   
 
   
 
 
963
 
 
  
   
 
   
 
 
 
 
Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year
  
   
 
   
 
 
11,693
 
 
  
   
 
   
 
 
 
 
 
 
 
 
31.12.2019
 
 
 
Y & C
 
 
MTU
Yuchai Power
 
 
Eberspaecher
Yuchai
 
 
Total
 
 
Total
 
 
 
RMB’000
 
 
RMB’000
 
 
RMB’000
 
 
RMB’000
 
 
US$’000
 
Non-current
assets
 
 
774,046
 
 
 
78,362
 
 
 
24,001
 
 
 
876,409
 
 
 
123,697
 
Current assets
 
   
 
   
 
   
 
   
 
   
- Cash and bank balances
 
 
164,942
 
 
 
9,265
 
 
 
54,567
 
 
 
228,774
 
 
 
32,289
 
- Others
 
 
1,060,805
 
 
 
221,482
 
 
 
7,970
 
 
 
1,290,257
 
 
 
182,109
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total assets
 
 
1,999,793
 
 
 
309,109
 
 
 
86,538
 
 
 
2,395,440
 
 
 
338,095
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-current
liabilities
 
 
(84,154
) 
 
 
—  
 
 
 
—  
 
 
 
(84,154
) 
 
 
(11,878
) 
Current liabilities
 
   
 
   
 
   
 
   
 
   
- Others
 
 
(1,396,116
) 
 
 
(179,680
) 
 
 
(21,651
) 
 
 
(1,597,447
) 
 
 
(225,466
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total liabilities
 
 
(1,480,270
) 
 
 
(179,680
) 
 
 
(21,651
) 
 
 
(1,681,601
) 
 
 
(237,344
) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
519,523
 
 
 
129,429
 
 
 
64,887
 
 
 
713,839
 
 
 
100,751
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proportion of the Group’s ownership
 
 
45
% 
 
 
50
% 
 
 
49
% 
 
   
 
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
   
Group’s share of net assets
 
 
233,786
 
 
 
64,714
 
 
 
31,794
 
 
   
 
   
Unrealized profit on transactions with joint venture
 
 
(57,704
) 
 
 
(4,783
) 
 
 
—  
 
 
   
 
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
   
Carrying amount of significant joint ventures
 
 
176,082
 
 
 
59,931
 
 
 
31,794
 
 
 
267,807
 
 
 
37,798
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
   
Carrying amount of other joint ventures
 
   
 
   
 
   
 
 
6,184
 
 
 
873
 
 
 
   
 
   
 
   
 
 
 
 
 
 
 
 
Carrying amount of the investment in joint ventures
 
   
 
   
 
   
 
 
273,991
 
 
 
38,671
 
 
 
   
 
   
 
   
 
 
 
 
 
 
 
 
  
 
 
31.12.2019
 
 
 
Y & C
 
 
MTU
Yuchai Power
 
 
Eberspaecher
Yuchai
 
 
Total
 
 
Total
 
 
 
RMB’000
 
 
RMB’000
 
 
RMB’000
 
 
RMB’000
 
 
US$’000
 
Revenue
 
 
2,404,244
 
 
 
178,796
 
 
 
3,509
 
 
 
2,586,549
 
 
 
365,069
 
Depreciation and amortization
 
 
(26,099
) 
 
 
(6,379
) 
 
 
(25
) 
 
 
(32,503
) 
 
 
(4,588
) 
Interest expense
 
 
(29,606
) 
 
 
(5,017
) 
 
 
—  
 
 
 
(34,623
) 
 
 
(4,887
) 
Profit/(loss) for the year, representing total comprehensive income for the year
 
 
44,484
 
 
 
600
 
 
 
(19,114
) 
 
 
25,970
 
 
 
3,665
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proportion of the Group’s ownership
 
 
45
% 
 
 
50
% 
 
 
49
% 
 
   
 
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
   
Group’s share of profit/(loss)
 
 
20,018
 
 
 
300
 
 
 
(9,366
) 
 
   
 
   
Unrealized profit on transactions with joint venture
 
 
8,466
 
 
 
294
 
 
 
—  
 
 
   
 
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
   
Group’s share of profit/(loss) of significant joint ventures
 
 
28,484
 
 
 
594
 
 
 
(9,366
) 
 
 
19,712
 
 
 
2,782
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
   
Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures
 
   
 
   
 
   
 
 
(497
) 
 
 
(70
) 
 
 
   
 
   
 
   
 
 
 
 
 
 
 
 
Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year
 
   
 
   
 
   
 
 
19,215
 
 
 
2,712