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Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2020

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 of December 31, 2019	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

Expected credit loss rate		7.2	%		—		6.9	%		6.2	%		10.9	%		70.7	%
Estimated total gross carrying amount at default		794,678			601,094		61,917			24,409			40,213			67,045
Expected credit loss		57,611			—		4,283			1,513			4,386			47,429


				Trade receivables
						Days past due
As of December 31, 2020	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

Expected credit loss rate		13.1	%		—		4.2	%		4.9	%		7.8	%		72.8	%
Estimated total gross carrying amount at default		332,567			126,706		91,233			29,675			36,413			48,540
Expected credit loss		43,519			—		3,860			1,451			2,852			35,356

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		Total
As of December 31, 2019	RMB’000		RMB’000		RMB’000

Financial assets
Trade and bills receivables		7,742,301		—		7,742,301
Other receivables, excluding tax recoverable		161,292		—		161,292
Cash and bank balances		6,390,918		—		6,390,918
Quoted equity securities		9,235		—		9,235

		14,303,746		—		14,303,746


Financial liabilities
Loans and borrowings		2,085,456		—		2,085,456
Trade and other payables (Note 22)		8,408,058		176,302		8,584,360
Lease liabilities		29,838		35,263		65,101
Derivative not designated as hedges – foreign exchange forward contract		999		—		999

		10,524,351		211,565		10,735,916


	1 year or less		2 to 5 years		More than 5 years		Total		Total
As of December 31, 2020	RMB’000		RMB’000		RMB’000		RMB’000		US$’000

Financial assets
Trade and bills receivables		8,082,391		—		—		8,082,391		1,248,959
Other receivables, excluding tax recoverable		76,195		—		—		76,195		11,774
Cash and bank balances		6,307,538		140,000		—		6,447,538		996,328
Quoted equity securities		6,258		—		—		6,258		967

		14,472,382		140,000		—		14,612,382		2,258,028


Financial liabilities
Loans and borrowings		1,753,142		524,275		—		2,277,417		351,926
Trade and other payables (Note 22)		10,025,069		191,563		—		10,216,632		1,578,760
Lease liabilities		24,313		22,761		325		47,399		7,324

		11,802,524		738,599		325		12,541,448		1,938,010

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: