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Segment information | 12 Months Ended
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Dec. 31, 2023
Text block [abstract] |
Segment information |
31. | Segment information
For management purposes, the Group is organized into business units based on their products and services, and has two reportable operating segments as follows:
| • |  | Yuchai primarily conducts manufacturing for on- and off-road powertrain solutions and applications which are mainly distributed in the PRC market.
| • |  | HLGE is engaged in hospitality and property development activities conducted mainly in the PRC and Malaysia. HLGE is listed on the Main Board of the Singapore Exchange.
Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment.
Year ended December 31, 2021 |  | Yuchai |  |  | HLGE |  |  | Corporate |  |  | Eliminations/ adjustment |  |  | Consolidated financial statements |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total external revenue (Note 6.1) |  |  | 21,254,134 |  |  |  | 11,796 |  |  |  | — |  |  |  | — |  |  |  | 21,265,930 |
Results |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 129,520 |  |  |  | 1,363 |  |  |  | 1,200 |  |  |  | — |  |  |  | 132,083 |
Interest expense |  |  | (111,747 | ) |  |  | (19 | ) |  |  | (26 | ) |  |  | — |  |  |  | (111,792 | )
Depreciation and amortization |  |  | (567,465 | ) |  |  | (5,221 | ) |  |  | (910 | ) |  |  | — |  |  |  | (573,596 | )
Share of results of associates and joint venture |  |  | (96,658 | ) |  |  | 763 |  |  |  | — |  |  |  | — |  |  |  | (95,895 | )
Income tax expense |  |  | (29,043 | ) |  |  | (245 | ) |  |  | — |  |  |  | (14,528 | ) (1) |  |  | (43,816 | )
Other material non-cash items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of property, plant and equipment |  |  | (7,227 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,227 | )
Warranties |  |  | (292,157 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (292,157 | )
Segment profit after tax |  |  | 443,499 |  |  |  | (6,728 | ) |  |  | (20,321 | ) |  |  | (8,556 | ) |  |  | 407,894 |
Total assets |  |  | 23,897,506 |  |  |  | 368,415 |  |  |  | 2,146,060 |  |  |  | (1,506,672 | ) |  |  | 24,905,309 |
Total liabilities |  |  | (13,206,953 | ) |  |  | (10,322 | ) |  |  | (13,550 | ) |  |  | (59,140 | ) (2) |  |  | (13,289,965 | )
Other s |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in joint ventures |  |  | 147,106 |  |  |  | 3,989 |  |  |  | — |  |  |  | — |  |  |  | 151,095 |
Capital expenditure |  |  | 474,562 |  |  |  | 4,310 |  |  |  | 19 |  |  |  | — |  |  |  | 478,891 |
Year ended December 31, 2022 |  | Yuchai |  |  | HLGE |  |  | Corporate |  |  | Eliminations/ adjustment |  |  | Consolidated financial statements |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total external revenue (Note 6.1) |  |  | 15,997,766 |  |  |  | 32,870 |  |  |  | — |  |  |  | — |  |  |  | 16,030,636 |
Results |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 116,668 |  |  |  | 2,902 |  |  |  | 12,309 |  |  |  | — |  |  |  | 131,879 |
Interest expense |  |  | (90,846 | ) |  |  | (49 | ) |  |  | (14 | ) |  |  | — |  |  |  | (90,909 | )
Depreciation and amortization |  |  | (619,000 | ) |  |  | (4,770 | ) |  |  | (922 | ) |  |  | — |  |  |  | (624,692 | )
Share of results of associates and joint venture |  |  | (29,554 | ) |  |  | 461 |  |  |  | — |  |  |  | — |  |  |  | (29,093 | )
Income tax expense |  |  | (47,555 | ) |  |  | (39 | ) |  |  | (9 | ) |  |  | (11,462 | ) (1) |  |  | (59,065 | )
Other material non-cash items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of property, plant and equipment |  |  | (17,278 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (17,278 | )
Warranties |  |  | (317,076 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (317,076 | )
Segment profit after tax |  |  | 354,865 |  |  |  | 5,152 |  |  |  | (18,245 | ) |  |  | (6,111 | ) |  |  | 335,661 |
Total assets |  |  | 23,020,241 |  |  |  | 405,871 |  |  |  | 2,215,652 |  |  |  | (1,504,208 | ) |  |  | 24,137,556 |
Total liabilities |  |  | (12,220,938 | ) |  |  | (12,062 | ) |  |  | (14,256 | ) |  |  | (55,236 | ) (2) |  |  | (12,302,492 | )
Other s |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in joint ventures |  |  | 150,219 |  |  |  | 4,484 |  |  |  | — |  |  |  | — |  |  |  | 154,703 |
Capital expenditure |  |  | 352,737 |  |  |  | 564 |  |  |  | 47 |  |  |  | — |  |  |  | 353,348 |
Year ended December 31, 2023 |  | Yuchai |  |  | HLGE |  |  | Corporate |  |  | Eliminations/ adjustment |  |  | Consolidated financial statements |  |  | Consolidated financial statements |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total external revenue (Note 6.1) |  |  | 18,015,280 |  |  |  | 31,069 |  |  |  | — |  |  |  | — |  |  |  | 18,046,349 |  |  |  | 2,540,451 |
Results |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 108,792 |  |  |  | 9,545 |  |  |  | 35,792 |  |  |  | — |  |  |  | 154,129 |  |  |  | 21,697 |
Interest expense |  |  | (95,483 | ) |  |  | (42 | ) |  |  | (62 | ) |  |  | — |  |  |  | (95,587 | ) |  |  | (13,456 | )
Depreciation and amortization |  |  | (659,426 | ) |  |  | (4,934 | ) |  |  | (705 | ) |  |  | — |  |  |  | (665,065 | ) |  |  | (93,624 | )
Gain on disposal of a subsidiary |  |  | 113,042 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 113,042 |  |  |  | 15,913 |
Share of results of associates and joint venture |  |  | 62,041 |  |  |  | 37 |  |  |  | — |  |  |  | — |  |  |  | 62,078 |  |  |  | 8,739 |
Income tax expense |  |  | (131,021 | ) |  |  | (535 | ) |  |  | (14,048 | ) |  |  | (2,892 | ) (1) |  |  | (148,496 | ) |  |  | (20,904 | )
Other material non-cash items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of property, plant and equipment |  |  | (44,667 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (44,667 | ) |  |  | (6,288 | )
Warranties |  |  | (414,021 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (414,021 | ) |  |  | (58,283 | )
Segment profit after tax |  |  | 431,697 |  |  |  | 9,534 |  |  |  | (11,420 | ) |  |  | (6,955 | ) |  |  | 422,856 |  |  |  | 59,527 |
Total assets |  |  | 24,579,069 |  |  |  | 423,968 |  |  |  | 2,258,575 |  |  |  | (1,503,994 | ) |  |  | 25,757,618 |  |  |  | 3,625,995 |
Total liabilities |  |  | (13,486,829 | ) |  |  | (11,307 | ) |  |  | (22,070 | ) |  |  | (61,787 | ) (2) |  |  | (13,581,993 | ) |  |  | (1,911,987 | )
Other s |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in joint ventures |  |  | 235,558 |  |  |  | 1,671 |  |  |  | — |  |  |  | — |  |  |  | 237,229 |  |  |  | 33,396 |
Capital expenditure |  |  | 176,782 |  |  |  | 2,059 |  |  |  | 35 |  |  |  | — |  |  |  | 178,876 |  |  |  | 25,181 |
Note:
| (1) | This relates mainly to the deferred tax expense relating to withholding tax on dividends from Yuchai.
| (2) | This relates mainly to the deferred tax liabilities relating to cumulative withholding tax on dividends that are expected to be declared from income earned after December 31, 2007 by Yuchai.
Geographic information The geographic information for revenue from external customers is disclosed in Note 6.1. Major customer Revenues from two customers of Yuchai segment amounted to RMB 2,433.2 million (US$ 342.5 million) (2022: RMB 2,346.9 million; 2021: RMB 5,231.7 million) and RMB 2,034.3 million (US$ 286.4 million) (2022: RMB 2,262.3 million; 2021: RMB 3,223.8 million) respectively. Non-current assets
|  | 31.12.2022 |  |  | 31.12.2023 |  |  | 31.12.2023 |
|  | RMB’000 |  |  | RMB’000 |  |  | US$’000 |
People’s Republic of China |  |  | 6,281,907 |  |  |  | 5,957,205 |  |  |  | 838,617 |
Other countries |  |  | 90,520 |  |  |  | 87,554 |  |  |  | 12,325 |
|  |  | 6,372,427 |  |  |  | 6,044,759 |  |  |  | 850,942 |
Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets, investment in joint ventures and associates, investment property, intangible assets and goodwill.

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