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Cash and bank balances
12 Months Ended
Dec. 31, 2023
Text block [abstract]  
Cash and bank balances
16.
Cash and bank balances
 
    
31.12.2022
RMB’000
    
31.12.2023
RMB’000
    
31.12.2023
US$’000
 
Non-current
        
Long-term bank deposits
     20,000        —         —   
  
 
 
    
 
 
    
 
 
 
Current
        
Cash and cash equivalents
     4,451,489        5,544,376        780,502  
Short-term bank deposits
(i)
     351,567        467,096        65,755  
Restricted cash
     27,687        27,999        3,942  
  
 
 
    
 
 
    
 
 
 
     4,830,743        6,039,471        850,199  
  
 
 
    
 
 
    
 
 
 
Cash and bank balances
     4,850,743        6,039,471        850,199  
  
 
 
    
 
 
    
 
 
 
Note:
 
 
(i)
Short-term bank deposits relate to bank deposits with initial maturities of more than three months and subject to more than insignificant risk of changes in value upon withdrawal before maturity. The interest rate of these bank deposits as of December 31, 2023 for the Group ranged from 2.8% to 5.8% (2022: 0.8% to 4.4%). These short-term bank deposits are not considered as cash equivalents.
 
 
Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods, depending on the immediate cash requirements of the Group, and earn interests at the respective short-term deposit rates. The interest rate of the bank deposits (excluding long-term and short-term bank deposits) as of December 31, 2023 for the Group ranged from 2.5% to 5.7% (2022: 1.3% to 5.2%).
As at December 31, 2023, there is fixed deposits of RMB 51.2 million (US$ 7.2 million) held with a related party (2022: RMB 36.6 million).
As of December 31, 2023, the Group’s restricted cash of RMB 28.0 million (US$ 3.9 million) (2022: RMB 27.7 million) was used as collateral by the banks for the issuance of bills to suppliers.
As of December 31, 2022 and 2023, the Group had RMB 518.0 million and RMB 534.5 million (US$ 75.2 million) respectively, of undrawn borrowing facilities in respect of which all conditions precedent had been met.
For the purpose of the statement of cash flows, cash and cash equivalents comprise the following at December 31:
 
    
31.12.2022
    
31.12.2023
    
31.12.2023
 
    
RMB’000
    
RMB’000
    
US$’000
 
Cash at banks and on hand
     3,730,372        4,963,232        698,692  
Short-term bank deposits
(i)
     721,117        581,144        81,810  
  
 
 
    
 
 
    
 
 
 
Cash and cash equivalents
     4,451,489        5,544,376        780,502  
  
 
 
    
 
 
    
 
 
 
Note:
 
 
(i)
This relates to other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.