Investment property

12 Months Ended

Dec. 31, 2023

11.	Investment property


	31.12.2022			31.12.2023			31.12.2023
	RMB’000			RMB’000			US$’000
Cost
At January 1		31,810			32,389			4,560
Translation difference		579			1,258			177

At December 31		32,389			33,647			4,737

Accumulated depreciation
At January 1		26,724			27,633			3,890
Charge for the year		348			355			50
Translation difference		561			1,556			220

At December 31		27,633			29,544			4,160

Net carrying amount		4,756			4,103			577

Fair value		11,686			11,453			1,612

Consolidated statements of profit or loss:
Rental income from an investment property
- Minimum lease payments		176			154			22
Direct operating expenses (including repairs and maintenance) arising from the rental generating property		(118	)		(720	)		(101	)

The Group has no restrictions on the realizable of its investment property and no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancement.

Investment property is carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation

calculated

using straight-line method

to allocate the depreciable amounts over the estimated useful life of 30 years.

The fair value is determined by independent professional qualified assessor. The fair value of investment property is determined by the market comparison and cost methods. In valuing the investment property, due consideration is given to factors such as location and size of building, building infrastructure, market knowledge and historical comparable transactions to arrive at their opinion of value.

The following table shows information about fair value measurement of the investment property using significant unobservable inputs (Level 3):


	Valuation techniques	Unobservable input	Inter-relationship between key unobservable inputs and fair value measurement
2023	Market comparison and cost method	Comparable price: - RMB 189 to RMB 458 (US$ 27 to US$ 64) per square foot	The estimated fair value increases with higher comparable price

2022	Market comparison and cost method	Comparable price: - RMB 182 to RMB 441 per square foot	The estimated fair value increases with higher comparable price