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Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Of Financial Instruments And Financial Risk Managements [line items]

Exposures to Foreign Currency

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


		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 receivables			(7,568	)			(13,689	)			(20,453	)			(12,795	)
Net assets/(liabilities)			149,640				5,334				4,930				11,696


		31.12.2024
		Singapore Dollar				Euro				US Dollar				Others
		RMB’000				RMB’000				RMB’000				RMB’000
Trade and other receivables			625				3,997				63,161				253
Cash and bank balances			133,884				7,212				13,124				1,117
Financial liabilities			(870	)			—				—				—
Trade and other payables			(7,628	)			(3,522	)			(7,238	)			(4,808	)
Net assets/(liabilities)			126,011				7,687				69,047				(3,438	)
US$’000			17,565				1,072				9,625				(479	)

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, 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			1,549,332				921,884				350,376				97,382				93,015				86,675
Expected credit loss			54,894				—				294				753				2,067				51,780


						Trade receivables
										Days past due
As of December 31, 2024		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			12.6	%			0.4	%			7.8	%			15.7	%			21.2	%			71.4	%
Estimated total gross carrying amount at default			1,828,773				653,519				641,862				225,739				154,973				152,680
Expected credit loss			229,694				2,561				49,750				35,500				32,818				109,065

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				1 to 5 years				After 5 years				Total
As of December 31, 2023		RMB’000				RMB’000				RMB’000				RMB’000
Financial assets
Trade and bills receivables			7,412,577				—				—				7,412,577
Other receivables, excluding tax recoverable			823,650				—				—				823,650
Cash and bank balances			6,039,471				—				—				6,039,471
			14,275,698				—				—				14,275,698
Financial liabilities
Loans and borrowings			1,880,251				710,772				—				2,591,023
Trade and other payables (Note 22)			9,153,907				181,155				—				9,335,062
Lease liabilities			32,436				18,016				797				51,249
Other financial liability			—				81,368				—				81,368
			11,066,594				991,311				797				12,058,702


		1 year or less				1 to 5 years				After 5 years				Total				Total
As of December 31, 2024		RMB’000				RMB’000				RMB’000				RMB’000				US$’000
Financial assets
Trade and bills receivables			8,578,001				—				—				8,578,001				1,195,740
Other receivables, excluding tax recoverable			397,302				—				—				397,302				55,383
Cash and bank balances			6,433,593				—				—				6,433,593				896,818
			15,408,896				—				—				15,408,896				2,147,941
Financial liabilities
Loans and borrowings			1,903,247				645,124				—				2,548,371				355,233
Trade and other payables (Note 22)			10,230,724				171,768				—				10,402,492				1,450,067
Lease liabilities			34,335				30,711				758				65,804				9,173
Other financial liability			—				81,368				—				81,368				11,342
			12,168,306				928,971				758				13,098,035				1,825,815

Foreign currency risk [Member]

Disclosure Of Financial Instruments And Financial Risk Managements [line items]

Risk Sensitivity Analysis


		Profit before tax
		31.12.2023				31.12.2024				31.12.2024
		RMB’000				RMB’000				US$’000
Singapore Dollar			14,964				12,601				1,757
Euro			533				769				107
US Dollar			493				6,905				963