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Investment in joint ventures (Tables)

12 Months Ended

Dec. 31, 2021

Investments accounted for using equity method [abstract]

Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures

5. Investment in joint ventures

		31.12.2019				31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				RMB’000				US$’000
Share of profit/(loss) of joint ventures, net of tax:
Y & C Engine Co., Ltd			28,484				(44,016	)			(125,853	)			(19,907	)
MTU Yuchai Power Co., Ltd.			594				3,238				28,037				4,435
Eberspaecher Yuchai Exhaust Technology Co., Ltd			(9,366	)			(19,157	)			1,377				218
Other joint ventures			(497	)			513				454				72
			19,215				(59,422	)			(95,985	)			(15,182	)

		31.12.2020				31.12.2021				31.12.2021
		RMB’000				RMB’000				US$’000
Carrying amount of investments:
Y & C Engine Co., Ltd			145,599				22,821				3,610
MTU Yuchai Power Co., Ltd			62,217				89,481				14,153
Eberspaecher Yuchai Exhaust Technology Co., Ltd			12,638				31,655				5,007
Other joint ventures			6,666				7,138				1,129
			227,120				151,095				23,899

Interest in Joint Ventures

The Group has interests in the following joint ventures:

Name of company		Principal activities		Place of incorporation/ business				Group’s effective equity interest
								31.12.2020				31.12.2021
								%				%
Held by subsidiaries
HL Heritage Sdn. Bhd.		Property development and property investment holdings			Malaysia				30.1				30.1
Shanghai Hengshan Equatorial Hotel Management Co., Ltd.		Hotel and property management			People’s Republic of China				24.6				24.6
Y & C Engine Co., Ltd (“Y&C”)		Manufacture and sale of heavy duty diesel engines, spare parts and after-sales services			People’s Republic of China				34.4				34.4
Guangxi Yineng IOT Science & Technology Co., Ltd.		Design, development, management and marketing of an electronic operations management platform			People’s Republic of China				15.3				15.3
MTU Yuchai Power Co., Ltd (“MTU Yuchai Power”)		Manufacture off-road diesel engines			People’s Republic of China				38.2				38.2
Eberspaecher Yuchai Exhaust Technology Co. Ltd (“Eberspaecher Yuchai”)		Application development, production, sales and service on engine exhaust control systems			People’s Republic of China				37.4				37.4

Summarized Financial Information of Joint Ventures and Reconciliation with Carrying Amount of Investment in Consolidated Financial Statements

		31.12.2019
		Y & C				MTU Yuchai Power				Eberspaecher Yuchai				Total
		RMB’000				RMB’000				RMB’000				RMB’000
Revenue			2,404,244				178,796				3,509				2,586,549
Depreciation and amortization			(26,099	)			(6,379	)			(25	)			(32,503	)
Interest expense			(29,606	)			(5,017	)			—				(34,623	)
Profit/(loss) for the year, representing total comprehensive income for the year			44,484				600				(19,114	)			25,970
Proportion of the Group’s ownership			45	%			50	%			49	%
Group’s share of profit/(loss)			20,018				300				(9,366	)
Unrealized profit on transactions with joint venture			8,466				294				—
Group’s share of profit/(loss) of significant joint ventures			28,484				594				(9,366	)			19,712
Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures															(497	)
Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year															19,215

		31.12.2020
		Y & C				MTU Yuchai Power				Eberspaecher Yuchai				Total
		RMB’000				RMB’000				RMB’000				RMB’000
Non-current assets			740,423				71,635				45,583				857,641
Current assets
- Cash and bank balances			160,844				43,056				2,273				206,173
- Others			1,287,935				266,123				43,895				1,597,953
Total assets			2,189,202				380,814				91,751				2,661,767
Non-current liabilities			(417,759	)			—				—				(417,759	)
Current liabilities			(1,340,704	)			(244,963	)			(65,960	)			(1,651,627	)
Total liabilities			(1,758,463	)			(244,963	)			(65,960	)			(2,069,386	)
Equity			430,739				135,851				25,791				592,381
Proportion of the Group’s ownership			45	%			50	%			49	%
Group’s share of net assets			193,833				67,926				12,638
Unrealized profit on transactions with joint venture			(48,234	)			(5,709	)			—
Carrying amount of significant joint ventures			145,599				62,217				12,638				220,454
Carrying amount of other joint ventures															6,666
Carrying amount of the investment in joint ventures															227,120

		31.12.2020
		Y & C				MTU Yuchai Power				Eberspaecher Yuchai				Total
		RMB’000				RMB’000				RMB’000				RMB’000
Revenue			3,021,877				307,699				45,966				3,375,542
Depreciation and amortization			(59,406	)			(2,350	)			(360	)			(62,116	)
Interest expense			(40,709	)			(1,983	)			—				(42,692	)
Profit/(loss) for the year, representing total comprehensive income for the year			(88,785	)			6,421				(39,095	)			(121,459	)
Proportion of the Group’s ownership			45	%			50	%			49	%
Group’s share of profit/(loss)			(39,953	)			3,211				(19,157	)
Unrealized profit on transactions with joint venture			(4,063	)			27				—
Group’s share of profit/(loss) of significant joint ventures			(44,016	)			3,238				(19,157	)			(59,935	)
Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures															513
Group’s share of loss for the year, representing the Group’s share of total comprehensive loss for the year															(59,422	)

		31.12.2021
		Y & C				MTU Yuchai Power				Eberspaecher Yuchai				Total				Total
		RMB’000				RMB’000				RMB’000				RMB’000				US$’000
Non-current assets			660,856				89,749				71,858				822,463				130,091
Current assets
- Cash and bank balances			179,779				63,609				2,105				245,493				38,830
- Others			817,972				310,394				99,352				1,227,718				194,192
Total assets			1,658,607				463,752				173,315				2,295,674				363,113
Non-current liabilities			(362,779	)			—				(14,109	)			(376,888	)			(59,613	)
Current liabilities			(1,147,416	)			(271,521	)			(94,604	)			(1,513,541	)			(239,401	)
Total liabilities			(1,510,195	)			(271,521	)			(108,713	)			(1,890,429	)			(299,014	)
Equity			148,412				192,231				64,602				405,245				64,099
Proportion of the Group’s ownership			45	%			50	%			49	%
Group’s share of net assets			66,785				96,116				31,655
Unrealized profit on transactions with joint venture			(43,964	)			(6,635	)			—
Carrying amount of significant joint ventures			22,821				89,481				31,655				143,957				22,770
Carrying amount of other joint ventures															7,138				1,129
Carrying amount of the investment in joint ventures															151,095				23,899
		31.12.2021
		Y & C				MTU Yuchai Power				Eberspaecher Yuchai				Total				Total
		RMB’000				RMB’000				RMB’000				RMB’000				US$’000
Revenue			2,072,721				467,800				157,316				2,697,837				426,724
Depreciation and amortization			(52,881	)			(2,377	)			(709	)			(55,967	)			(8,852	)
Interest expense, net			(51,836	)			(1,850	)			(41	)			(53,727	)			(8,498	)
Profit/(loss) for the year, representing total comprehensive income for the year			(282,205	)			54,526				2,811				(224,868	)			(35,568	)
Proportion of the Group’s ownership			45	%			50	%			49	%
Group’s share of profit/(loss)			(126,992	)			27,263				1,377
Unrealized profit on transactions with joint venture			1,139				774				—
Group’s share of profit/(loss) of significant joint ventures			(125,853	)			28,037				1,377				(96,439	)			(15,254	)
Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures															454				72
Group’s share of loss for the year, representing the Group’s share of total comprehensive loss for the year															(95,985	)			(15,182	)

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The disclosure of significant investments in joint ventures.

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- Definition

The disclosure of the reconciliation of the summarised financial information of a joint venture accounted for using the equity method to the carrying amount of the reporting entity's interest in the joint venture. [Refer: Carrying amount [member]; Joint ventures [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B14
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