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Revenue from contracts with customers | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Revenue from contracts with customers |
6 . | Revenue from contracts with customers
6 .1 | Disaggregated revenue information
Set out below is the disaggregation of the Group’s revenue from contracts with customers:
|  | 31.12.2018 |
Segments |  | Yuchai |  |  | HLGE |  |  | Total |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Type of goods or services |  |  |  |  |  |  |  |  |  |  |  |
Heavy-duty engines |  |  | 4,934,435 |  |  |  | — |  |  |  | 4,934,435 |
Medium-duty engines |  |  | 5,537,164 |  |  |  | — |  |  |  | 5,537,164 |
Light-duty engines |  |  | 2,481,554 |  |  |  | — |  |  |  | 2,481,554 |
Other products and services (i) |  |  | 3,213,237 |  |  |  | — |  |  |  | 3,213,237 |
Revenue from hospitality operations |  |  | 44,077 |  |  |  | 52,781 |  |  |  | 96,858 |
Total revenue from contracts with customers |  |  | 16,210,467 |  |  |  | 52,781 |  |  |  | 16,263,248 |
Geographical markets |  |  |  |  |  |  |  |  |  |  |  |
People’s Republic of China |  |  | 16,119,896 |  |  |  | — |  |  |  | 16,119,896 |
Other countries |  |  | 90,571 |  |  |  | 52,781 |  |  |  | 143,352 |
Total revenue from contracts with customers |  |  | 16,210,467 |  |  |  | 52,781 |  |  |  | 16,263,248 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  |  | 16,166,390 |  |  |  | — |  |  |  | 16,166,390 |
Over time |  |  | 44,077 |  |  |  | 52,781 |  |  |  | 96,858 |
Total revenue from contracts with customers |  |  | 16,210,467 |  |  |  | 52,781 |  |  |  | 16,263,248 |
|  | 31.12.2019 |
Segments |  | Yuchai |  |  | HLGE |  |  | Total |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Type of goods or services |  |  |  |  |  |  |  |  |  |  |  |
Heavy-duty engines |  |  | 6,189,934 |  |  |  | — |  |  |  | 6,189,934 |
Medium-duty engines |  |  | 5,583,982 |  |  |  | — |  |  |  | 5,583,982 |
Light-duty engines |  |  | 2,429,248 |  |  |  | — |  |  |  | 2,429,248 |
Other products and services (i) |  |  | 3,732,436 |  |  |  | — |  |  |  | 3,732,436 |
Revenue from hospitality operations |  |  | 44,704 |  |  |  | 35,781 |  |  |  | 80,485 |
Total revenue from contracts with customers |  |  | 17,980,304 |  |  |  | 35,781 |  |  |  | 18,016,085 |
Geographical markets |  |  |  |  |  |  |  |  |  |  |  |
People’s Republic of China |  |  | 17,913,615 |  |  |  | — |  |  |  | 17,913,615 |
Other countries |  |  | 66,689 |  |  |  | 35,781 |  |  |  | 102,470 |
Total revenue from contracts with customers |  |  | 17,980,304 |  |  |  | 35,781 |  |  |  | 18,016,085 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  |  | 17,935,600 |  |  |  | — |  |  |  | 17,935,600 |
Over time |  |  | 44,704 |  |  |  | 35,781 |  |  |  | 80,485 |
Total revenue from contracts with customers |  |  | 17,980,304 |  |  |  | 35,781 |  |  |  | 18,016,085 |
|  | 31.12.2020 |
Segments |  | Yuchai |  |  | HLGE |  |  | Total |  |  | Total |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Type of goods or services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Heavy-duty engines |  |  | 6,725,312 |  |  |  | — |  |  |  | 6,725,312 |  |  |  | 1,039,252 |
Medium-duty engines |  |  | 6,626,629 |  |  |  | — |  |  |  | 6,626,629 |  |  |  | 1,024,003 |
Light-duty engines |  |  | 2,356,168 |  |  |  | — |  |  |  | 2,356,168 |  |  |  | 364,095 |
Other products and services (i) |  |  | 4,809,921 |  |  |  | — |  |  |  | 4,809,921 |  |  |  | 743,269 |
Revenue from hospitality operations |  |  | 39,630 |  |  |  | 23,510 |  |  |  | 63,140 |  |  |  | 9,757 |
Total revenue from contracts with customers |  |  | 20,557,660 |  |  |  | 23,510 |  |  |  | 20,581,170 |  |  |  | 3,180,376 |
Geographical markets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
People’s Republic of China |  |  | 20,504,288 |  |  |  | — |  |  |  | 20,504,288 |  |  |  | 3,168,496 |
Other countries |  |  | 53,372 |  |  |  | 23,510 |  |  |  | 76,882 |  |  |  | 11,880 |
Total revenue from contracts with customers |  |  | 20,557,660 |  |  |  | 23,510 |  |  |  | 20,581,170 |  |  |  | 3,180,376 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  |  | 20,518,030 |  |  |  | — |  |  |  | 20,518,030 |  |  |  | 3,170,619 |
Over time |  |  | 39,630 |  |  |  | 23,510 |  |  |  | 63,140 |  |  |  | 9,757 |
Total revenue from contracts with customers |  |  | 20,557,660 |  |  |  | 23,510 |  |  |  | 20,581,170 |  |  |  | 3,180,376 |
Note:
| (i) | included sales of power generator sets, engine components, service-type maintenance services and others.
6 .2 | Contract balances
|  | 31.12.2019 |  |  | 31.12.2020 |  |  | 31.12.2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Trade receivables (Note 1 5 ) |  |  | 737,067 |  |  |  | 289,048 |  |  |  | 44,666 |
Capitalized contract cost |  |  | 136,457 |  |  |  | 127,704 |  |  |  | 19,734 |
Contract liabilities (Note 2 4 ) |  |  | 436,622 |  |  |  | 935,462 |  |  |  | 144,556 |
Trade receivables are non-interest bearing and are generally on terms of 60 days. The contract liabilities comprise short-term advance received from customers and unfulfilled service-type maintenance service. The advance received from customers is recognized as revenue upon the delivery of goods, and the contract liability arising from unfulfilled service-type warranty is recognized upon the completion of the maintenance services. According to the business customary practice, the remaining performance obligations (unfulfilled service-type maintenance service) at the year-end is expected to be satisfied within 1-3 years. The significant increase in contract liabilities as at December 31, 2020 was mainly due to increase in advance payment from customers as of the year-end for future product deliveries.
| (a) | Set out below is the amount of revenue recognized from:
|  | 31.12.2019 |  |  | 31.12.2020 |  |  | 31.12.2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Amounts include in contract liabilities |  |  | 72,321 |  |  |  | 363,464 |  |  |  | 56,166 |
| (b) | Capitalized contract costs
|  | 31.12.2019 |  |  | 31.12.2020 |  |  | 31.12.2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Capitalized contract costs relating to service fee charges on development of technology know-how |  |  |  |  |  |  |  |  |  |  |  |
At January 1 |  |  | 44,434 |  |  |  | 136,457 |  |  |  | 21,086 |
Addition |  |  | 93,549 |  |  |  | 24,147 |  |  |  | 3,731 |
Reclassified to development costs |  |  | — |  |  |  | (21,519 | ) |  |  | (3,325 | )
Released to consolidated statement of profit or loss |  |  | (1,526 | ) |  |  | (11,381 | ) |  |  | (1,758 | )
At December 31 |  |  | 136,457 |  |  |  | 127,704 |  |  |  | 19,734 |
6 .3 | Performance obligations
The transaction price allocated to the remaining unsatisfied performance obligations as of 31 December are, as follows:
|  | 31.12.2019 |  |  | 31.12.2020 |  |  | 31.12.2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Within one year |  |  | 127,326 |  |  |  | 112,454 |  |  |  | 17,377 |
More than one year |  |  | 53,813 |  |  |  | 67,269 |  |  |  | 10,396 |
Total unfulfilled service-type maintenance service (Note 24) |  |  | 181,139 |  |  |  | 179,723 |  |  |  | 27,773 |
The remaining performance obligations expected to be recognized in more than one year relate to the unfulfilled maintenance service that is to be satisfied within 3 years.

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