Revenue from contracts with customers

12 Months Ended

Dec. 31, 2020

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.