
	As at 31 December
	2021		2022
	RMB’000		RMB’000
Trade payables		1,527,706		1,818,453
Bills payable		562,593		24,951
Amounts due to related parties exclude advances received (*)		4,910,255		7,877,323

		7,000,554		9,720,727

Dividends payable		30,577		31,631
Construction payable		487,283		831,422
Accrued expenses		400,391		143,299
Other liabilities		87,144		76,778

		1,005,395		1,083,130

Financial liabilities measured at amortized cost		8,005,949		10,803,857
Amounts due to related parties – advances received (*)		6,275		10,486
Amounts due to related parties – measured at fair value through profit or loss (FVPL) (*) (note i)		1,388,286		—

		9,400,510		10,814,343

Total amount due to related parties (summary of *)		6,304,816		7,887,809

All trade and other payables (including amounts due to related parties) are expected to be

settled

or recognized as income within one year or are repayable on demand.

(i) Amounts due to related parties – measured at FVPL represents the obligation that the Company needs to return the crude oil to its related party with maturity of less than 1 year, which is measured at fair value through profit or loss.

As at 31 December 2021 and 31 December 2022, all trade and other payables of the Group were

non-interest

bearing, and their fair value, approximated their carrying amounts due to their short maturities.

Majority of amount due to related parties were trade payable for purchasing crude oil from related parties .

As at 31 December 2021 and 31 December 2022, the ageing analysis of the trade payables (including amounts due to related parties of trading in nature) and bills payable based on invoice date were as follows:


	As at 31 December
	2021		2022
	RMB’000		RMB’000
Within one year		6,990,653		9,708,441
Over one year within two years		9,527		2,524
Over two years		374		9,762

		7,000,554		9,720,727