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Accounts receivable net | 12 Months Ended
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Dec. 31, 2024
Accounts receivable, net | Note 4: Accounts receivable, net Accounts receivable, net consisted of the following at December 31,:
|  | 2024 |  |  | 2023 |
|  | US$’000 |  |  | US$’000 |
Contract receivables |  |  | 1,386 |  |  |  | 2,864 |
Less: allowance for doubtful accounts |  |  | - |  |  |  | - |
|  |  | 1,386 |  |  |  | 2,864 |
The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:
|  | 2024 |  |  | 2023 |
|  | US$’000 |  |  | US$’000 |
Balance at beginning of period |  |  | - |  |  |  | 28 |
Less : reversal in allowances |  |  | - |  |  |  | (28 | )
Balance at end of period |  |  | - |  |  |  | - |
The following is an aging analysis of accounts receivable, net at December 31:
|  | 2024 |  |  | 2023 |
|  | US$’000 |  |  | US$’000 |
Current |  |  | 422 |  |  |  | 1,175 |
Past due |  |  |  |  |  |  |  |
1-30 days |  |  | 397 |  |  |  | 603 |
31-60 days |  |  | 224 |  |  |  | 548 |
61-90 days |  |  | 183 |  |  |  | 341 |
Greater than or equal to 91 days |  |  | 160 |  |  |  | 197 |
|  |  | 964 |  |  |  | 1,689 |
|  |  | 1,386 |  |  |  | 2,864 |
ZHEJIANG TIANLAN |
Accounts receivable, net |
4. | Accounts receivable, net
Accounts receivable, net consisted of the following at December 31:
|  | 202 4 |  |  | 202 3 |
|  | RMB’000 |  |  | RMB’000 |
Contract receivables |  | 171,008 |  |  | 157,879 |
Less: allowance for doubtful accounts |  | (35,952 | ) |  | (29,644 | )
|  | 135,056 |  |  | 128,235 |
The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:
|  | 202 4 |  |  | 202 3 |
|  | RMB’000 |  |  | RMB’000 |
Balance at beginning of year |  |  | 29,644 |  |  |  | 40,019 |
Add: provision for allowances |  |  | 6,304 |  |  |  | 10,376 |
Less: reversal of provision for doubtful accounts |  |  | - |  |  |  | (677 | )
Less: write-off of doubtful accounts |  |  | - |  |  |  | (20,074 | )
Balance at end of year |  |  | 35,952 |  |  |  | 29,644 |
The following is an aging analysis of accounts receivable, net at December 31:
|  | 202 4 |  |  | 202 3 |
|  | RMB’000 |  |  | RMB’000 |
Within 1 year |  |  | 100,254 |  |  |  | 121,658 |
1 year - 2 years |  |  | 30,292 |  |  |  | 31,499 |
2 years - 3 years |  |  | 10,701 |  |  |  | 3,140 |
3 years - 4 years |  |  | 3,515 |  |  |  | 699 |
4 years - 5 years |  |  | 456 |  |  |  | 883 |
Over 5 years |  |  | 25,790 |  |  |  |  |
Less: allowance for doubtful accounts |  |  | (35,952 | ) |  |  | (29,644 | )
|  |  | 135,056 |  |  |  | 128,235 |
At December 31, 2024, the accounts receivable, net pledged as security for the Company’s bank loans and third party loans amounted to RMB Nil (2023: RMB Nil).

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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