Accounts receivable net

12 Months Ended

Dec. 31, 2022

Accounts receivable, net

Note 4:   Accounts receivable, net

Accounts receivable, net consisted of the following at December 31,:

	2022			2021
	US$’000			US$’000
Contract receivables		1,614			3,661
Less: allowance for doubtful accounts		(28	)		(30	)
		1,586			3,631

The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:

	2022			2021
	US$’000			US$’000
Balance at beginning of period		30			30
Less : reversal in allowances		(2	)		-
Balance at end of period		28			30

The following is an aging analysis of accounts receivable, net at December 31:

	2022		2021
	US$’000		US$’000
Current		710		1,441
Past due
1-30 days		477		1,570
31-60 days		311		495
61-90 days		32		108
Greater than or equal to 91 days		56		17
		876		2,190
		1,586		3,631

ZHEJIANG TIANLAN

Accounts receivable, net

4. Accounts receivable, net

Accounts receivable, net consisted of the following at December 31:

	2022			2021
	RMB’000			RMB’000
Contract receivables		175,792			148,889
Less: allowance for doubtful accounts		(40,019	)		(42,867	)
		135,773			106,022

The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:

	2022			2021
	RMB’000			RMB’000
Balance at beginning of year		42,867			42,182
Add: provision for allowances		822			868
Less: reversal of provision for doubtful accounts		(983	)		(183	)
Less: write-off of doubtful accounts		(2,687	)		-
Balance at end of year		40,019			42,867

The following is an aging analysis of accounts receivable, net at December 31:

	2022		2021
	RMB’000		RMB’000
Within 1 year		111,436		82,534
1 year -  2 years		12,236		12,144
2 years - 3 years		1,437		5,111
3 years - 4 years		6,132		5,141
4 years - 5 years		4,532		1,092
		135,773		106,022

At December 31, 2022, the accounts receivable, net pledged as security for the Company’s bank loans and third party loans amounted to RMB Nil (2021: RMB Nil).