Revenue from contracts with customers

12 Months Ended

Dec. 31, 2024

6.1.

Disaggregated revenue information

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


	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
	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		5,552,544		—		5,552,544
Medium-duty engines		5,696,186		—		5,696,186
Light-duty engines		1,621,538		—		1,621,538
Other products and services (i)		5,089,069		154		5,089,223
Revenue from hospitality operations		55,943		30,915		86,858
Total revenue from contracts with customers		18,015,280		31,069		18,046,349
Geographical markets
People’s Republic of China		17,877,450		—		17,877,450
Other countries		137,830		31,069		168,899
Total revenue from contracts with customers		18,015,280		31,069		18,046,349
Timing of revenue recognition
At a point in time		17,959,337		8,115		17,967,452
Over time		55,943		22,954		78,897
Total revenue from contracts with customers		18,015,280		31,069		18,046,349

Revenue from contracts with customers (cont’d)

6.1.

Disaggregated revenue information (cont’d)


	31.12.2024
Segments	Yuchai		HLGE		Total		Total
	RMB’000		RMB’000		RMB’000		US$’000
Type of goods or services
Heavy-duty engines		6,417,484		—		6,417,484		894,572
Medium-duty engines		5,201,611		—		5,201,611		725,084
Light-duty engines		2,258,692		—		2,258,692		314,853
Other products and services (i)		5,167,136		156		5,167,292		720,301
Revenue from hospitality operations		57,874		30,622		88,496		12,336
Total revenue from contracts with customers		19,102,797		30,778		19,133,575		2,667,146
Geographical markets
People’s Republic of China		18,826,436		—		18,826,436		2,624,332
Other countries		276,361		30,778		307,139		42,814
Total revenue from contracts with customers		19,102,797		30,778		19,133,575		2,667,146
Timing of revenue recognition
At a point in time		18,996,587		8,260		19,004,847		2,649,202
Over time		106,210		22,518		128,728		17,944
Total revenue from contracts with customers		19,102,797		30,778		19,133,575		2,667,146

Note:

(i)

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

6.2.

Contract balances


	31.12.2023		31.12.2024		31.12.2024
	RMB’000		RMB’000		US$’000
Trade receivables (Note 14)		1,093,788		1,368,012		190,696
Capitalized contract cost		122,627		130,015		18,124
Contract liabilities (Note 24)		691,427		630,683		87,915

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:


	31.12.2023		31.12.2024		31.12.2024
	RMB’000		RMB’000		US$’000
Amounts included in contract liabilities		640,864		623,176		86,868

Revenue from contracts with customers (cont’d)

6.2.

Contract balances (cont’d)

(b)

Capitalized contract costs


	31.12.2023			31.12.2024		31.12.2024
	RMB’000			RMB’000		US$’000
Capitalized contract costs relating to the projects on development of technology know-how
At January 1		197,692			122,627		17,094
Addition		14,628			7,388		1,030
Recognized in income statement		(89,693	)		—		—
At December 31		122,627			130,015		18,124

6.3.

Performance obligations

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


	31.12.2023		31.12.2024		31.12.2024
	RMB’000		RMB’000		US$’000
Within one year		102,978		97,230		13,553
More than one year		52,214		48,091		6,704
Total unfulfilled service-type maintenance service (Note 24)		155,192		145,321		20,257