Revenue from contracts with customers

12 Months Ended

Dec. 31, 2023

6.	Revenue from contracts with customers

6.1	Disaggregated revenue information

Set out below is the disaggregation of the Group’s revenue from contracts with customers:


	31.12.2021
Segments	Yuchai		HLGE		Total
	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		7,410,771		—		7,410,771
Medium-duty engines		7,065,283		—		7,065,283
Light-duty engines		2,429,745		—		2,429,745
Other products and services ( i )		4,304,918		77		4,304,995
Revenue from hospitality operations		43,417		11,719		55,136

Total revenue from contracts with customers		21,254,134		11,796		21,265,930

Geographical markets
People’s Republic of China		21,206,280		—		21,206,280
Other countries		47,854		11,796		59,650

Total revenue from contracts with customers		21,254,134		11,796		21,265,930

Timing of revenue recognition
At a point in time		21,210,718		8,067		21,218,785
Over time		43,416		3,729		47,145

Total revenue from contracts with customers		21,254,134		11,796		21,265,930


	31.12.2022
Segments	Yuchai		HLGE		Total
	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		5,061,991		—		5,061,991
Medium-duty engines		5,066,622		—		5,066,622
Light-duty engines		1,910,923		—		1,910,923
Other products and services ( i )		3,910,703		176		3,910,879
Revenue from hospitality operations		47,527		32,694		80,221

Total revenue from contracts with customers		15,997,766		32,870		16,030,636

Geographical markets
People’s Republic of China		15,886,210		—		15,886,210
Other countries		111,556		32,870		144,426

Total revenue from contracts with customers		15,997,766		32,870		16,030,636

Timing of revenue recognition
At a point in time		15,950,239		7,702		15,957,941
Over time		47,527		25,168		72,695

Total revenue from contracts with customers		15,997,766		32,870		16,030,636


	31.12.2023
Segments	Yuchai		HLGE		Total		Total
	RMB’000		RMB’000		RMB’000		US$’000
Type of goods or services
Heavy-duty engines		5,552,544		—		5,552,544		781,652
Medium-duty engines		5,696,186		—		5,696,186		801,873
Light-duty engines		1,621,538		—		1,621,538		228,270
Other products and services ( i )		5,089,069		154		5,089,223		716,429
Revenue from hospitality operations		55,943		30,915		86,858		12,227

Total revenue from contracts with customers		18,015,280		31,069		18,046,349		2,540,451

Geographical markets
People’s Republic of China		17,877,450		—		17,877,450		2,516,675
Other countries		137,830		31,069		168,899		23,776

Total revenue from contracts with customers		18,015,280		31,069		18,046,349		2,540,451

Timing of revenue recognition
At a point in time		17,959,337		8,115		17,967,452		2,529,344
Over time		55,943		22,954		78,897		11,107

Total revenue from contracts with customers		18,015,280		31,069		18,046,349		2,540,451

Note:

(i)

included sales of power generator sets, NEV products and others.

6.2	Contract balances


	31.12.2022		31.12.2023		31.12.2023
	RMB’000		RMB’000		US$’000
Trade receivables (Note 15)		1,516,215		1,093,788		153,976
Capitalized contract cost		197,692		122,627		17,263
Contract liabilities (Note 24)		695,076		691,427		97,334

The contract liabilities comprise short-term advance received from customers and unfulfilled service-type maintenance service. The advance received from customers is recognized as revenue upon the delivery of goods, and the contract liability arising from unfulfilled service-type warranty is recognized upon the completion of the maintenance services. According to the business customary practice, the remaining performance obligations (unfulfilled service-type maintenance service) at the

year-end

is expected to be satisfied within 2 years.

(a)

Set out below is the amount of revenue recognized from:


	31.12.2022		31.12.2023		31.12.2023
	RMB’000		RMB’000		US$’000
Amounts included in contract liabilities		544,495		640,864		90,217

(b)

Capitalized contract costs


	31.12.2022		31.12.2023			31.12.2023
	RMB’000		RMB’000			US$’000
Capitalized contract costs relating to the projects on development of technology know-how
At January 1		147,499		197,692			27,830
Addition		50,193		14,628			2,059
Recognized in income statement		—		(89,693	)		(12,626	)

At December 31		197,692		122,627			17,263

6.3	Performance obligations

The transaction price allocated to the remaining unsatisfied performance obligations as of 31 December are, as follows:


	31.12.2022		31.12.2023		31.12.2023
	RMB’000		RMB’000		US$’000
Within one year		117,906		102,978		14,497
More than one year		77,339		52,214		7,350

Total unfulfilled service-type maintenance service (Note 24)		195,245		155,192		21,847