CONTRACT ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of contract assets

		December 31,
		2022			2023		2023
		CNY			CNY		US$
Non-current
Service concession assets	(a)		89,740			—		—
Less: impairment allowance			(27	)		—		—
			89,713			—		—
Current
Service concession assets	(a)		7,423			—		—
Other contract assets	(b)		14,930			—		—
Less: impairment allowance			(706	)		—		—
			21,647			—		—
Total			111,360			—		—

(a) Service concession assets bearing an imputed interest of 7% arose from the Group's revenue from construction service under a BOT arrangement rendered by the Group's subsidiary, Shaoguan Angrui. The facilities that the service concession arrangement relate to were under construction phases from June 2018 to January 2021 and commenced operation in January 2021.

The amounts for the service concession arrangement are not yet due for payment and will be settled by revenue to be generated during the operating periods of the service concession arrangement. Amounts billed will be transferred to trade receivables.

As of December 31, 2022, the Group’s concession rights and assets associated with the environmental water projects (comprising intangible asset, contract assets and trade receivables) with aggregate gross carrying amounts of CNY139,060, were pledged to secure bank loans from Bank of Communications with outstanding balances of CNY74,000. Please refer to Note 20 for further details.

(b) The balances as of December 31, 2022 comprised contract assets arising from performance under a water treatment plant construction service contract. Such contracts include payment schedules that require progress payments over the service periods when milestones are reached.

Schedule of the movements in the provision for impairment of contract assets

	December 31,
	2022		2023			2023
	CNY		CNY			US$
Beginning of the year		562		733			104
Provision for expected credit losses, net		171		3,545			501
Disposal of PSTT		—		(4,278	)		(605	)
End of the year		733		—			—