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Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2022

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, 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		9.1	%		—		0.5	%		7.2	%		15.3	%		55.2	%
Estimated total gross carrying amount at default		364,445			117,832		131,411			33,897			37,169			44,136
Expected credit loss		33,210			—		714			2,428			5,686			24,382



				Trade receivables
						Days past due
As of December 31, 2022	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		2.1	%		—		0.2	%		0.2	%		0.6	%		63.1	%
Estimated total gross carrying amount at default		1,549,462			1,138,365		216,355			80,132			63,477			51,133
Expected credit loss		33,247			—		500			124			372			32,251

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, 2021	RMB’000		RMB’000		RMB’000
Financial assets
Trade and bills receivables		6,768,335		—		6,768,335
Other receivables, excluding tax recoverable		138,780		—		138,780
Cash and bank balances		5,221,555		110,000		5,331,555
Quoted equity securities		606		—		606

		12,129,276		110,000		12,239,276


Financial liabilities
Loans and borrowings		2,130,356		101,524		2,231,880
Trade and other payables (Note 22)		9,391,524		188,725		9,580,249
Lease liabilities		28,121		13,650		41,771

		11,550,001		303,899		11,853,900



	1 year or less		2 to 5 years		After 5 years		Total		Total
As of December 31, 2022	RMB’000		RMB’000		RMB’000		RMB’000		US$’000
Financial assets
Trade and bills receivables		6,487,095		—		—		6,487,095		933,140
Other receivables, excluding tax recoverable		434,750		—		—		434,750		62,537
Cash and bank balances		4,830,743		20,000		—		4,850,743		697,758

		11,752,588		20,000		—		11,772,588		1,693,435


Financial liabilities
Loans and borrowings		2,158,839		209,400		—		2,368,239		340,661
Trade and other payables (Note 22)		8,080,782		189,366		—		8,270,148		1,189,624
Lease liabilities		33,102		26,928		216		60,246		8,666
Other financial liability		—		—		58,212		58,212		8,374

		10,272,723		425,694		58,428		10,756,845		1,547,325

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