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Trade and other receivables (Tables)
 12 Months Ended
Dec. 31, 2024
Trade and other receivables [abstract]  
Summary of Trade and Other Receivables

 

31.12.2023

 

 

31.12.2024

 

 

31.12.2024

 

 

RMB’000

 

 

RMB’000

 

 

US$’000

 

Trade receivables, gross

 

 

1,148,682

 

 

 

1,595,145

 

 

 

222,357

 

Less: Allowance for expected credit losses

 

 

(54,894

)

 

 

(227,133

)

 

 

(31,661

)

Net trade receivables (Note 6.2)

 

 

1,093,788

 

 

 

1,368,012

 

 

 

190,696

 

Bills receivable (i)

 

 

6,318,789

 

 

 

7,209,989

 

 

 

1,005,044

 

Total (Note 32, Note 35)

 

 

7,412,577

 

 

 

8,578,001

 

 

 

1,195,740

 

Amounts receivable:

 

 

 

 

 

 

 

 

 

- joint ventures (trade)

 

 

187,944

 

 

 

103,819

 

 

 

14,472

 

Less: Impairment losses – joint venture (trade)

 

 

—

 

 

 

(2,561

)

 

 

(357

)

- associates and joint ventures (non-trade)

 

 

10,212

 

 

 

12,725

 

 

 

1,774

 

Less: Impairment losses – joint venture (non-trade)

 

 

—

 

 

 

(10,456

)

 

 

(1,457

)

- related parties (trade)

 

 

212,706

 

 

 

129,809

 

 

 

18,095

 

- related parties (non-trade)

 

 

4,016

 

 

 

9,376

 

 

 

1,307

 

Bills receivable in transit

 

 

49,696

 

 

 

—

 

 

 

—

 

Grant receivables

 

 

62,000

 

 

 

76,900

 

 

 

10,720

 

Sales consideration on disposal of a subsidiary due
   from the acquirer

 

 

236,734

 

 

 

5,212

 

 

 

726

 

Others

 

 

68,052

 

 

 

80,188

 

 

 

11,178

 

Less: Impairment losses – other receivables

 

 

(7,710

)

 

 

(7,710

)

 

 

(1,075

)

Other receivables carried at amortized cost (Note 35)

 

 

823,650

 

 

 

397,302

 

 

 

55,383

 

Tax recoverable

 

 

108,844

 

 

 

143,463

 

 

 

19,998

 

Advances paid to suppliers

 

 

77,527

 

 

 

153,488

 

 

 

21,395

 

Right of return assets

 

 

36,026

 

 

 

117,836

 

 

 

16,426

 

Others

 

 

—

 

 

 

26,371

 

 

 

3,676

 

Net other receivables

 

 

1,046,047

 

 

 

838,460

 

 

 

116,878

 

Total trade and other receivables

 

 

8,458,624

 

 

 

9,416,461

 

 

 

1,312,618

 

 

Note:

(i)
As of December 31, 2024, bills receivable includes bills received from joint ventures and related parties amounted to RMB 1.3 million (US$0.2 million) (2023: RMB 5.3 million) and RMB 1.1 billion (US$151.3 million) (2023: RMB 987.9 million) respectively.

As of December 31, 2024, bills receivable amounted to RMB 16.4 million (US$2.3 million) (2023: RMB 12.5 million) was pledged to secure bank facilities (Note 26).

Movement in the Allowance for Expected Credit Losses of Trade and Other Receivables

Movement in the allowance for expected credit losses of trade and other receivables is as follows:

 

 

31.12.2023
RMB’000

 

 

31.12.2024
RMB’000

 

 

31.12.2024
US$’000

 

At January 1

 

 

39,001

 

 

 

62,604

 

 

 

8,726

 

Charge to consolidated statement of profit or loss (under
   “Selling, general and administrative expenses”)

 

 

23,858

 

 

 

185,523

 

 

 

25,861

 

Written off

 

 

(264

)

 

 

(267

)

 

 

(37

)

Translation difference

 

 

9

 

 

 

—

 

 

 

—

 

At December 31

 

 

62,604

 

 

 

247,860

 

 

 

34,550