Cash and bank balances

12 Months Ended

Dec. 31, 2024

Cash and cash equivalents [abstract]

15.

Cash and bank balances


	31.12.2023		31.12.2024		31.12.2024
	RMB’000		RMB’000		US$’000
Current
Cash and cash equivalents		5,544,376		5,915,916		824,656
Short-term bank deposits (i)		467,096		397,187		55,366
Restricted cash		27,999		120,490		16,796
		6,039,471		6,433,593		896,818
Cash and bank balances		6,039,471		6,433,593		896,818

Cash and cash equivalents comprise the following at December 31:


	31.12.2023		31.12.2024		31.12.2024
	RMB’000		RMB’000		US$’000
Cash at banks and on hand		4,963,232		5,517,049		769,055
Short-term bank deposits (ii)		581,144		398,867		55,601
Cash and cash equivalents		5,544,376		5,915,916		824,656

Note:

(i)

This short-term bank deposits relate to bank deposits with initial maturities of more than three months and subject to more than insignificant risk of changes in value upon withdrawal before maturity. The interest rate of these bank deposits as of December 31, 2024 for the Group ranged from 2.4% to 5.5% (2023: 2.8% to 5.8%).

(ii)

This relates to the short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. The interest rate of the deposits as of December 31, 2024 for the Group ranged from 2.3% to 4.9% (2023: 2.5% to 5.7%).

As at December 31, 2024, there is fixed deposits of RMB 51.1 million (US$7.1 million) held with a related party (2023: RMB 51.2 million).

As of December 31, 2024, the Group’s restricted cash of RMB 93.4 million (US$13.0 million) (2023: RMB 23.0 million) was used as collateral by the banks for the issuance of bills to suppliers, RMB 8.6 million (US$1.2 million) (2023: Nil) was pledged to secure bank facilities (Note 26), and RMB 18.4 million (US$2.6 million) relates to retention money deposited in a joint signatory account with the acquirer of Suzhou Reman. (2023: RMB 5.0 million).

As of December 31, 2023 and 2024, the Group had RMB 534.5 million and RMB 542.5 million (US$75.6 million) respectively, of undrawn borrowing facilities in respect of which all conditions precedent had been met.