Land use right, net

12 Months Ended

Dec. 31, 2023

ZHEJIANG TIANLAN

Land use right, net

11. Land use right, net

	December 31,
	2023			2022
	RMB’000			RMB’000
Gross carrying amount
Land use right		7,361			7,361
Less: Accumulated amortization		(2,662	)		(2,511	)
Net carrying amount		4,699			4,850

	Year ended December 31,
	2023		2022		2021
	RMB’000		RMB’000		RMB’000
Amortization expense		180		150		150

At December 31, 2023, the land use right pledged as security for the Company’s bank loans and third party’s loans amounted to approximately RMB1,371,000 (2022: RMB1,417,000).

As December 31, 2023, estimated future land use right amortization expense for each of the next five years and thereafter was as follows:

	Future amortization expense
	RMB’000
2024		180
2025		180
2026		180
2027		180
2028		180
Thereafter		3,799
Total		4,699