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Depreciation, amortization, shipping and handling expenses

12 Months Ended

Dec. 31, 2021

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Depreciation, amortization, shipping and handling expenses

7.1 Depreciation, amortization, shipping and handling expenses

(a) Depreciation and amortization expenses

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Amortization of intangible assets (i)			1,012				1,012				38,957				6,162
Depreciation of investment property			380				376				355				56
Depreciation of property, plant and equipment			422,859				450,092				492,826				77,952
Depreciation of right-of-use assets (ii)			40,958				43,127				41,458				6,558
			465,209				494,607				573,596				90,728

Note:

(i)  The higher amortization charges in 2021 is mainly due to the amortization charged on additional Technology Know-how recognized during the year which are transferred from Group capitalized development cost upon completion and ready for use.

(ii) In 2020, COVID-19 related rent rebate received from lessors of RMB 0.2 million has been offset against the depreciation of right-of-use assets.

Depreciation and amortization expenses are included in the following captions:

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Cost of sales			315,445				327,866				381,248				60,303
Research and development expenses			16,470				26,815				41,835				6,618
Selling, general and administrative expenses			133,294				139,926				150,513				23,807
			465,209				494,607				573,596				90,728

(b) Shipping and handling expenses

Sales related shipping and handling expenses not separately billed to customers are included in the following caption:

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Selling, general and administrative expenses			221,255				237,683				224,292				35,477

7.2 (a)    Other operating income

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Interest income			177,261				166,970				132,083				20,892
Dividend income from quoted equity securities			959				166				168				26
Gain on disposal of:
- property, plant and equipment			—				—				1,224				194
- quoted equity securities			11,528				874				5,416				857
- right-of-use assets			9,237				2,574				14,714				2,327
Government grants			122,371				209,793				152,932				24,190
Fair value gain on quoted equity securities			1,118				—				138				22
Fair value gain on foreign exchange forward contract			—				999				—				—
Realised foreign exchange gain, net			3,604				1,390				—				—
Unrealised foreign exchange gain, net			4,679				1,827				—				—
Others			16,404				15,676				19,496				3,083
			347,161				400,269				326,171				51,591

7.2 (b)    Other operating expenses

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Fair value loss on quoted equity securities			—				1,196				—				—
Fair value loss on foreign exchange forward contract			5,529				—				—				—
Loss on disposal of property, plant and equipment			645				4,183				—				—
Provision/(reversal) for onerous contract, net			—				13,639				(8,810	)			(1,394	)
Realised foreign exchange loss, net			—				—				(1,532	)			(242	)
Unrealised foreign exchange loss, net			—				—				3,271				518
Unrecoverable value added tax			—				—				11,164				1,766
Others			2,501				2,304				5,889				931
			8,675				21,322				9,982				1,579

7.3 Finance costs

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Bank term loans			76,721				95,357				82,109				12,987
Bills discounting			47,212				49,738				27,864				4,408
Bank charges			4,945				3,877				4,136				654
Interest on lease liabilities (Note 17)			2,918				2,198				1,819				288
			131,796				151,170				115,928				18,337

7.4 Staff costs

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Wages and salaries			1,122,712				1,364,751				1,338,777				211,758
Contribution to defined contribution plans			324,623				287,830				386,551				61,142
Executive bonuses			59,791				59,908				19,355				3,061
Staff welfare			82,692				94,982				93,992				14,867
Staff severance cost			15,454				19,712				11,771				1,862
Others			6,012				3,439				4,887				773
			1,611,284				1,830,622				1,855,333				293,463

Staff costs are included in the following captions:

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Cost of sales			808,763				912,304				985,676				155,907
Research and development expenses			243,049				258,118				283,543				44,849
Selling, general and administrative expenses			559,472				660,200				586,114				92,707
			1,611,284				1,830,622				1,855,333				293,463

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