Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2021

The Group’s exposures to foreign currency are as follows:

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, 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


				Trade receivables
						Days past due
As of December 31, 2021	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		6.0	%		—		0.6	%		5.9	%		13.2	%		56.6	%
Estimated total gross carrying amount at default		557,767			279,402		154,494			37,756			43,084			43,031
Expected credit loss		33,210			—		916			2,234			5,707			24,355

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		More than 5 years		Total
As of December 31, 2020	RMB’000		RMB’000		RMB’000		RMB’000
Financial assets
Trade and bills receivables		8,082,391		—		—		8,082,391
Other receivables, excluding tax recoverable		76,195		—		—		76,195
Cash and bank balances		6,307,538		140,000		—		6,447,538
Quoted equity securities		6,258		—		—		6,258

		14,472,382		140,000		—		14,612,382


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

		11,802,524		738,599		325		12,541,448



	1 year or less		2 to 5 years		Total		Total
As of December 31, 2021	RMB’000		RMB’000		RMB’000		US$’000
Financial assets
Trade and bills receivables		6,961,657		—		6,961,657		1,101,145
Other receivables, excluding tax recoverable		140,835		—		140,835		22,277
Cash and bank balances		5,221,555		110,000		5,331,555		843,307
Quoted equity securities		606		—		606		96

		12,324,653		110,000		12,434,653		1,966,825


Financial liabilities
Loans and borrowings		2,130,356		101,524		2,231,880		353,023
Trade and other payables (Note 22)		9,586,901		188,725		9,775,626		1,546,238
Lease liabilities		28,121		13,650		41,771		6,607

		11,745,378		303,899		12,049,277		1,905,868

A 10% increase/(decrease) in the underlying prices at the reporting date would increase/(decrease) Group’s profit before tax by the following amount: