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REVENUE FROM CONTRACT WITH CUSTOMERS | 6 Months Ended | 12 Months Ended
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Jun. 30, 2023 | Dec. 31, 2022
Revenue From Contract With Customers |  |
REVENUE FROM CONTRACT WITH CUSTOMERS |
| 4. | REVENUE FROM CONTRACT WITH CUSTOMERS
Set out below is the disaggregation of the Group’s revenue from contracts with customers:
Schedule of disaggregated revenue information |  |  |  |  |  |  |  |  |
|  | Six months ended June 30, |
|  | 2022 |  |  | 2023 |  |  | 2023 |
|  | CNY |  |  | CNY |  |  | US$ |
|  | (Unaudited) |  |  | (Unaudited) |  |  | (Unaudited) |
Type of goods or services |  |  |  |  |  |  |  |  |  |  |  |
Construction contract revenue |  |  | 12,639 |  |  |  | 8,690 |  |  |  | 1,198 |
Operation and maintenance services |  |  | — |  |  |  | 405 |  |  |  | 56 |
Operation services of service concession arrangement |  |  | 3,433 |  |  |  | 3,121 |  |  |  | 430 |
Total revenue from contracts with customers |  |  | 16,072 |  |  |  | 12,216 |  |  |  | 1,684 |
Geographic market |  |  |  |  |  |  |  |  |  |  |  |
Mainland China |  |  | 16,072 |  |  |  | 12,216 |  |  |  | 1,684 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
Over time |  |  | 16,072 |  |  |  | 12,216 |  |  |  | 1,684 |
Total revenue from contracts with customers |  |  | 16,072 |  |  |  | 12,216 |  |  |  | 1,684 |
| (i) | The Group had neither revenue from the exploration and mining segment, nor inter-segment revenue for six months ended June 30, 2022 and 2023. No revenue was recognized in the current reporting period that was included in the contract liabilities at the beginning of the reporting period and recognized from performance obligations satisfied in previous periods.
(ii) Performance obligation Construction services The Group’s performance in respect of construction services creates or enhances an asset or work in progress that the customer controls as the asset is created or enhanced. The Group satisfies the performance obligation and recognizes revenue over time, by reference to completion of the specific transaction assessed on the basis of the surveyors’ assessment of work performed for each contract. Operation and maintenance services Revenue from maintenance services is recognized over the period of time that the services are rendered, and the benefits are received and consumed simultaneously by the customers. Operation services of service concession arrangements The operation revenue from service concession arrangements is recognized over the period of time that the services are rendered, and the benefits are received and consumed simultaneously by the customers. (iii) Significant financing components The majority of the Group’s customers are town/village government entities or main contractors of governmental infrastructure projects whose time of payment for the service or goods received from the Group depends on the appropriation and approval of funds. Certain customers for construction services, sales of wastewater treatment equipment, and maintenance services will generally settle the amounts owed to the Group in a number of specified instalments covering periods ranging from one year to five years. Therefore, the Group’s management considers the contracts with customers which are town/village government entities or main contractors of the governmental infrastructure projects as containing a significant financing component. For each of the six months ended June 30, 2022 and 2023, the respective revenue considerations were adjusted for this financing component based on an imputed interest rate of 4.75% per annum and the Group’s revenue was adjusted to CNY771 and CNY597 (US$82), respectively. The interest income related to the significant financing components is disclosed in Note 5 to the financial statements. |
4. |  | REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACT WITH CUSTOMERS
Schedule of disaggregated revenue information |  |  |  |  |  |  |  |  |
|  | Year Ended December 31, 2020 |
|  | Wastewater treatment |  |  | Exploration and mining |  |  | Total |
|  | CNY |  |  | CNY |  |  | CNY |
Segments |  |  |  |  |  |  |  |  |
Type of goods or services |  |  |  |  |  |  |  |  |
Sales of copper ores |  |  | — |  |  |  | 6,867 |  |  |  | 6,867 |
Construction contract revenue |  |  | 7,665 |  |  |  | — |  |  |  | 7,665 |
Operation and maintenance services |  |  | 3,561 |  |  |  | — |  |  |  | 3,561 |
Operation services of service concession arrangement |  |  | 2,295 |  |  |  | — |  |  |  | 2,295 |
Construction services of service concession arrangement |  |  | 22,110 |  |  |  | — |  |  |  | 22,110 |
Total revenue from contracts with customers |  |  | 35,631 |  |  |  | 6,867 |  |  |  | 42,498 |
Geographic market |  |  |  |  |  |  |  |  |  |  |  |
Mainland China |  |  | 35,631 |  |  |  | 6,867 |  |  |  | 42,498 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  |  | — |  |  |  | 6,867 |  |  |  | 6,867 |
Over time |  |  | 35,631 |  |  |  | — |  |  |  | 35,631 |
Total revenue from contracts with customers |  |  | 35,631 |  |  |  | 6,867 |  |  |  | 42,498 |
|  | Year Ended December 31, 2021 |
|  | Wastewater treatment |  |  | Exploration and mining |  |  | Total |
|  | CNY |  |  | CNY |  |  | CNY |
Segments |  |  |  |  |  |  |  |  |
Type of goods or services |  |  |  |  |  |  |  |  |
Construction contract revenue |  |  | 12,203 |  |  |  | — |  |  |  | 12,203 |
Operation and maintenance services |  |  | 183 |  |  |  | — |  |  |  | 183 |
Operation services of service concession arrangement |  |  | 5,953 |  |  |  | — |  |  |  | 5,953 |
Construction services of service concession arrangement |  |  | 396 |  |  |  | — |  |  |  | 396 |
Total revenue from contracts with customers |  |  | 18,735 |  |  |  | — |  |  |  | 18,735 |
Geographic market |  |  |  |  |  |  |  |  |  |  |  |
Mainland China |  |  | 18,735 |  |  |  | — |  |  |  | 18,735 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
Over time |  |  | 18,735 |  |  |  | — |  |  |  | 18,735 |
Total revenue from contracts with customers |  |  | 18,735 |  |  |  | — |  |  |  | 18,735 |
|  | Year Ended December 31, 2022 |
|  | Wastewater treatment |  |  | Exploration and mining |  |  | Total |  |  | Total |
|  | CNY |  |  | CNY |  |  | CNY |  |  | US$ |
Segments |  |  |  |  |  |  |  |  |  |  |  |
Type of goods or services |  |  |  |  |  |  |  |  |  |  |  |
Construction contract revenue |  |  | 14,633 |  |  |  | — |  |  |  | 14,633 |  |  |  | 2,122 |
Sales of wastewater treatment equipment |  |  | 161 |  |  |  | — |  |  |  | 161 |  |  |  | 23 |
Operation services of service concession arrangement |  |  | 5,512 |  |  |  | — |  |  |  | 5,512 |  |  |  | 799 |
Total revenue from contracts with customers |  |  | 20,306 |  |  |  | — |  |  |  | 20,306 |  |  |  | 2,944 |
Geographic market |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mainland China |  |  | 20,306 |  |  |  | — |  |  |  | 20,306 |  |  |  | 2,944 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  |  | 161 |  |  |  | — |  |  |  | 161 |  |  |  | 23 |
Over time |  |  | 20,145 |  |  |  | — |  |  |  | 20,145 |  |  |  | 2,921 |
Total revenue from contracts with customers |  |  | 20,306 |  |  |  | — |  |  |  | 20,306 |  |  |  | 2,944 |
(i) Disaggregated revenue information As described in Note 2.5(aa) to the financial statements, revenue from construction contract revenue, operation and maintenance services, operation services of service concession arrangements, and construction services of service concession arrangements are recognized over time. Revenue from sales of water treatment equipment and copper ores is recognized at a point in time. (ii) Performance obligation The amounts of transaction prices allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as of December 31 are as follows:
Schedule of the amounts of transaction prices allocated to the remaining performance obligations |  |  |  |  |  |  |  |  |
|  | December 31 |
|  | 2021 |  |  | 2022 |  |  | 2022 |
|  | CNY |  |  | CNY |  |  | US$ |
Amounts expected to be recognized as revenue: |  |  |  |  |  |  |  |  |  |  |  |
Within one year |  |  | 17,774 |  |  |  | 16,406 |  |  |  | 2,378 |
After one year |  |  | 183,114 |  |  |  | 172,683 |  |  |  | 25,034 |
Amounts expected in Revenues |  |  | 200,888 |  |  |  | 189,089 |  |  |  | 27,412 |
The amounts of transaction prices allocated to the remaining performance obligations which are expected to be recognized as revenue after one year relate to construction services, operation services and other services, of which the performance obligations are to be satisfied within 27 years. The amounts disclosed above do not include variable consideration which is constrained. There were no revenues generated from the contract liabilities in the beginning of the periods for the years ended December 31, 2021 and 2022. (iii) Significant financing components The majority of the Group’s customers are town/village government entities or main contractors of governmental infrastructure projects whose time of payment for the service or goods received from the Group depends on the appropriation and approval of funds. Certain customers for construction services, sales of wastewater treatment equipment, and maintenance services will generally settle the amounts owed to the Group in a number of specified installments covering periods ranging from one year to five years. Therefore, the Group’s management considers the contracts with customers which are town/village government entities or main contractors of governmental infrastructure projects as containing a significant financing component. For each of the three years ended December 31, 2020, 2021, and 2022, the respective revenue considerations were adjusted for this financing component based on an imputed interest rate of 4.75% per annum and the Group’s revenue was adjusted to CNY991, CNY 1,631 and CNY408 (US$59), respectively. The interest income related to the significant financing components is disclosed in Note 5 to the financial statements.

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