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Investments in subsidiaries | 12 Months Ended
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Dec. 31, 2021
Investments accounted for using equity method [abstract] |
Investments in subsidiaries |
4. | Investments in subsidiaries
Details of significant subsidiaries of the Group are as follows:
Name of significant subsidiary |  | Place of incorporation/ business |  | Group’s effective equity interest |
|  |  |  | 31.12.2020 |  |  | 31.12.2021 |
|  |  |  | % |  |  | % |
Guangxi Yuchai Machinery Company Limited |  | People’s Republic of China |  |  | 76.4 |  |  |  | 76.4 |
Guangxi Yuchai Machinery Monopoly Development Co., Ltd |  | People’s Republic of China |  |  | 54.9 |  |  |  | 54.9 |
Guangxi Yuchai Accessories Manufacturing Company Limited |  | People’s Republic of China |  |  | 76.4 |  |  |  | 76.4 |
Guangxi Yulin Hotel Company Limited |  | People’s Republic of China |  |  | 76.4 |  |  |  | 76.4 |
HL Global Enterprises Limited |  | Singapore |  |  | 50.2 |  |  |  | 50.2 |
The Group has the following subsidiary that has non-controlling interests (“NCI”) that are material to the Group.
|  | 31.12.2019 |  |  | 31.12.2020 |  |  | 31.12.2021 |
Proportion of equity interest held by NCI |  |  |  |  |  |  |  |  |  |  |  |
Yuchai |  |  | 23.6 | % |  |  | 23.6 | % |  |  | 23.6 | %
|  | 31.12.2019 RMB’000 |  |  | 31.12.2020 RMB’000 |  |  | 31.12.2021 RMB’000 |  |  | 31.12.2021 US$’000 |
Accumulated balances of material NCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Yuchai |  |  | 2,603,227 |  |  |  | 2,624,933 |  |  |  | 2,574,669 |  |  |  | 407,243 |
Profit allocated to material NCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Yuchai |  |  | 254,284 |  |  |  | 229,231 |  |  |  | 153,500 |  |  |  | 24,280 |
Dividends paid to material NCI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Yuchai |  |  | 207,514 |  |  |  | 207,514 |  |  |  | 203,753 |  |  |  | 32,228 |
Summarized financial information including goodwill on acquisition and consolidation adjustments but before intercompany eliminations of subsidiaries with material non-controlling interests are as follows:
|  | 31.12.2019 |
|  | Yuchai RMB’000 |
Summarized statement of comprehensive income |  |  |  |
Revenue |  |  | 17,980,304 |
Profit after tax |  |  | 825,807 |
Total comprehensive income for the year |  |  | 828,861 |
Attributable to NCI |  |  | 254,284 |
Summarized statement of cash flows |  |  |  |
Operating |  |  | 1,632,557 |
Investing |  |  | (858,904 | )
Financing |  |  | (656,576 | )
Net increase in cash and cash equivalents |  |  | 117,077 |
|  | 31.12.2020 |
|  | Yuchai |
|  | RMB’000 |
Summarized statement of financial position |  |  |  |
Current assets |  |  | 18,395,754 |
Non-current assets, excluding goodwill |  |  | 6,722,233 |
Goodwill |  |  | 212,636 |
Current liabilities |  |  | (13,035,680 | )
Non-current liabilities |  |  | (1,293,007 | )
Net assets |  |  | 11,001,936 |
Total equity |  |  | 11,001,936 |
Attributable to NCI |  |  | 2,624,933 |
Summarized statement of comprehensive income |  |  |  |
Revenue |  |  | 20,557,660 |
Profit after tax |  |  | 829,042 |
Total comprehensive income for the year |  |  | 826,214 |
Attributable to NCI |  |  | 229,231 |
Summarized statement of cash flows |  |  |  |
Operating |  |  | 1,476,034 |
Investing |  |  | (794,291 | )
Financing |  |  | (505,997 | )
Net increase in cash and cash equivalents |  |  | 175,746 |
|  | 31.12.2021 |
|  | Yuchai |
|  | RMB’000 |  |  | US$’000 |
Summarized statement of financial position |  |  |  |  |  |  |  |
Current assets |  |  | 17,067,747 |  |  |  | 2,699,653 |
Non-current assets, excluding goodwill |  |  | 6,812,500 |  |  |  | 1,077,552 |
Goodwill |  |  | 212,636 |  |  |  | 33,633 |
Current liabilities |  |  | (12,620,344 | ) |  |  | (1,996,195 | )
Non-current liabilities |  |  | (781,986 | ) |  |  | (123,689 | )
Net assets |  |  | 10,690,553 |  |  |  | 1,690,954 |
Total equity |  |  | 10,690,553 |  |  |  | 1,690,954 |
Attributable to NCI |  |  | 2,574,669 |  |  |  | 407,243 |
Summarized statement of comprehensive income |  |  |  |  |  |  |  |
Revenue |  |  | 21,254,134 |  |  |  | 3,361,826 |
Profit after tax |  |  | 443,499 |  |  |  | 70,149 |
Total comprehensive income for the year |  |  | 506,769 |  |  |  | 80,157 |
Attributable to NCI |  |  | 153,500 |  |  |  | 24,280 |
Summarized statement of cash flows |  |  |  |  |  |  |  |
Operating |  |  | 588,727 |  |  |  | 93,121 |
Investing |  |  | (674,686 | ) |  |  | (106,717 | )
Financing |  |  | (1,002,764 | ) |  |  | (158,610 | )
Net increase in cash and cash equivalents |  |  | (1,088,723 | ) |  |  | (172,206 | )
Significant restrictions The nature and extent of significant restrictions on the Group’s ability to use or access assets and settle liabilities of subsidiaries with material non-controlling interests are: At the end of the reporting period, cash and cash equivalents of RMB 4,200.5 million (US$ 664.4 million) (2020: RMB 5,289.2 million) held in the PRC are subject to local exchange control regulations. These regulations place restriction on the amount of currency being exported other than through dividends, trade and service related transactions. Acquisition of ownership in subsidiaries, without change in control in 2019 In February 2019, Yuchai acquired 7.5% of equity interest in YC Europe Co., Ltd. (“YC Europe”) from non-controlling interest for a cash consideration of RMB 0.1 million. As a result, Yuchai’s shareholding in YC Europe increased from 67.5% to 75.0%.

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