Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2023

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


	31.12.2022
	Singapore Dollar			Euro			US Dollar			Others
	RMB’000			RMB’000			RMB’000			RMB’000
Trade and other receivables		1,504			7,328			4,484			218
Cash and bank balances		166,517			1,282			26,521			15,340
Financial liabilities		(202	)		—			—			—
Trade and other receivables		(5,064	)		(11,586	)		(7,258	)		(2,579	)

Net assets/(liabilities)		162,755			(2,976	)		23,747			12,979


	31.12.2023
	Singapore Dollar			Euro			US Dollar			Others
	RMB’000			RMB’000			RMB’000			RMB’000
Trade and other receivables		1,700			13,686			7,221			377
Cash and bank balances		157,073			5,337			18,162			24,114
Financial liabilities		(1,565	)		—			—			—
Trade and other payables		(7,568	)		(13,689	)		(20,453	)		(12,795	)

Net assets/(liabilities)		149,640			5,334			4,930			11,696

US$’000		21,065			751			694			1,646

Summary of Information about Credit Risk on Trade Receivables using Provision Matrix

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, 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



				Trade receivables
						Days past due
As of December 31, 2023	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		4.8	%		—		0.1	%		0.8	%		2.2	%		59.7	%
Estimated total gross carrying amount at default		1,148,682			521,234		350,376			97,382			93,015			86,675
Expected credit loss		54,894			—		294			753			2,067			51,780

Maturity Profile of Financial Assets and Liabilities Based on Contractual Undiscounted Payments

The table below summarizes the maturity profile of the Group’s financial assets and liabilities, as well as lease liabilities, based on contractual undiscounted payments.


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

		11,752,588		20,000		—		11,772,588

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

		10,272,723		425,694		58,428		10,756,845


	1 year or less		2 to 5 years		After 5 years		Total		Total
As of December 31, 2023	RMB’000		RMB’000		RMB’000		RMB’000		US$’000
Financial assets
Trade and bills receivables		7,412,577		—		—		7,412,577		1,043,495
Other receivables, excluding tax recoverable		823,650		—		—		823,650		115,949
Cash and bank balances		6,039,471		—		—		6,039,471		850,199

		14,275,698		—		—		14,275,698		2,009,643

Financial liabilities
Loans and borrowings		1,880,251		710,772		—		2,591,023		364,748
Trade and other payables (Note 22)		9,153,907		181,155		—		9,335,062		1,314,131
Lease liabilities		32,436		18,016		797		51,249		7,215
Other financial liability		—		81,368		—		81,368		11,454

		11,066,594		991,311		797		12,058,702		1,697,548

Foreign currency risk [Member]

Statement [Line Items]

Risk Sensitivity Analysis


	Profit before tax
	31.12.2022			31.12.2023		31.12.2023
	RMB’000			RMB’000		US$’000
Singapore Dollar		16,276			14,964		2,107
Euro		(298	)		533		75
US Dollar		2,375			493		69