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Cash and cash equivalents | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Cash and cash equivalents |
1 6 . | Cash and cash equivalents
Long-term bank deposits Short-term bank deposits Restricted cash
|  | 31.12.2019 RMB’000 |  |  | 31.12.2020 RMB’000 |  |  | 31.12.2020 US$’000 |
Non-current |  |  |  |  |  |  |  |  |  |  |  |
Long-term bank deposits (i) |  |  | 50,000 |  |  |  | 140,000 |  |  |  | 21,634 |
Current |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 5,753,268 |  |  |  | 5,877,647 |  |  |  | 908,264 |
Short-term bank deposits (ii) |  |  | 356,543 |  |  |  | 258,756 |  |  |  | 39,985 |
Restricted cash |  |  | 231,107 |  |  |  | 171,135 |  |  |  | 26,445 |
|  |  | 6,340,918 |  |  |  | 6,307,538 |  |  |  | 974,694 |
Cash and bank balances |  |  | 6,390,918 |  |  |  | 6,447,538 |  |  |  | 996,328 |
Note:
| (i) | In 2020, YMMC has placed new three-year time deposits of RMB 90.0 million (US$13.9 million) (2019: RMB 50.0 million) at annual interest rate range from 3.85% to 3.99% (2019: 3.99% to 4.13%) with certain banks. These long-term deposits are not considered to be cash equivalents.
| (ii) | Short-term bank deposits relate to bank deposits with initial maturities of more than three months and subject to more than insignificant risk of changes in value upon withdrawal before maturity. The interest rate of these bank deposits as of December 31, 2020 for the Group ranged from 0.23% to 2.25% (2019: 1.78% to 3.65%). These short-term bank deposits are not considered as cash equivalents.
Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods, depending on the immediate cash requirements of the Group, and earn interests at the respective short-term deposit rates. The interest rate of the bank deposits (excluding long-term and short-term bank deposits) as of December 31, 2020 for the Group ranged from 0.1% to 1.55% (2019: 1.50% to 3.15%). As at December 31, 2020, there is fixed deposits of RMB130.8 million (US$ 20.2 million) held with a related party (2019: Nil). As of December 31, 2020, the Group’s restricted cash of RMB 171.1 million (US$26.4 million) (2019: RMB 231.1 million) was used as collateral by the banks for the issuance of bills to suppliers. As of December 31, 2019 and 2020, the Group had RMB 295.0 million and RMB 491.9 million (US$76.0 million) respectively, of undrawn borrowing facilities in respect of which all conditions precedent had been met. The commitment fees incurred for 2018, 2019 and 2020 were RMB 0.2 million, RMB 0.2 million and less than RMB 0.1 million (less than US$0.1 million) respectively. For the purpose of the statement of cash flows, cash and cash equivalents comprise the following at December 31:
|  | 31.12.2019 |  |  | 31.12.2020 |  |  | 31.12.2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Cash at banks and on hand |  |  | 5,205,605 |  |  |  | 5,466,288 |  |  |  | 844,697 |
Short-term bank deposits (i) |  |  | 547,663 |  |  |  | 411,359 |  |  |  | 63,567 |
Cash and cash equivalents |  |  | 5,753,268 |  |  |  | 5,877,647 |  |  |  | 908,264 |
Note:
| (i) | This relates to other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

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- Definition Disclosure of cash and bank balances. + References No definition available. + Details
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