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TRADE RECEIVABLES | 12 Months Ended
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Dec. 31, 2019
TRADE RECEIVABLES |
TRADE RECEIVABLES | 17. TRADE RECEIVABLES
|  | As of December 31,
|  | 2019 |  | 2018
|  | RMB’000 |  | RMB’000
Trade receivables |  | 672,533 |  | 650,963
Less: provision for bad debt allowance |  | (495,510) |  | (426,849)
|  | 177,023 |  | 224,114
The Company’s trade receivables are denominated in Renminbi and non-interest bearing. In 2011, the credit period granted to distributors was generally for a period within 90 days. Since the end of 2012, the Company had extended the collection period to 150 days to address funding pressures of its distributors. Other customers were granted a credit period of 90 days in the year ended December 31, 2013, and extended to 120 days in the year ended December 2016 and 2017. As of December 31, 2019 and 2018, the Company accrued RMB 495,510,000 and RMB 426,849,000, respectively, as a provision for bad debt related to the amount of outstanding trade receivables that did not conform with the Company’s credit policy. All of the trade receivables are expected to be recovered within one year. An aging analysis of the Company’s trade receivables, based on the invoice date, is as follows:
|  | As of December 31,
|  | 2019 |  | 2018
|  | RMB’000 |  | RMB’000
Within 90 days |  | 35,846 |  | 57,785
Between 3 and 6 months |  | 72,241 |  | 69,037
More than 6 months |  | 68,936 |  | 97,292
|  | 177,023 |  | 224,114
An aging analysis of trade receivables that were neither past due nor impaired or past due but not impaired, is as follows:
|  |  |  | Past due but not impaired |  |
|  | Neither past due nor |  | Less than |  |  |  | Over 120 |  |  |  |
|  | impaired |  | 30 days |  | 31 to 120 days |  | days |  | Sub-total |  | Total
|  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
December 31, 2018 |  | 126,823 |  | 97,291 |  | — |  | — |  | — |  | 224,114
December 31, 2019 |  | 141,177 |  | 35,846 |  | — |  | — |  | — |  | 177,023
Receivables that were neither past due nor impaired relate to a large number of customers for whom there was no recent history of default. All amounts are short-term. The Company does not hold any collateral over these receivables. The net carrying value of trade receivables is considered a reasonable approximation of fair value. As of December 31, 2019, the Company is exposed to certain credit risks as 13% and 42% of the total trade receivables were due from the Company’s largest and the five largest customers, respectively. As of December 31, 2018, the Company is exposed to certain credit risks as 30% and 97% of the total trade receivables were due from the Company’s largest and the five largest customers, respectively.

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- References No definition available. + Details
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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_10_e&doctype=Standard -URIDate 2019-03-27 + Details
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