leases |
The Group has lease contracts for land, motor vehicles, office space and staff accommodations used in its operations. These leases are generally with lease term of between 1 and 12 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. The Group also has certain leases of office space and staff accommodations with lease terms of 12 months or less. The Group has applied the “short-term leases” recognition exemptions for these leases Set out below are the carrying amounts of assets recognized and the movements during the year.
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At January 1, 2022 |
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304,645 |
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40,118 |
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51 |
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— |
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344,814 |
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48,541 |
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Addition |
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— |
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49,421 |
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— |
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314 |
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49,735 |
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7,001 |
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Depreciation expenses |
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(12,324 |
) |
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(30,772 |
) |
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(14 |
) |
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(19 |
) |
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(43,129 |
) |
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(6,071 |
) |
Disposal |
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(3,256 |
) |
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— |
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— |
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— |
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(3,256 |
) |
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(458 |
) |
Termination |
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— |
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(6,187 |
) |
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— |
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— |
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(6,187 |
) |
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(871 |
) |
Translation difference |
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— |
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159 |
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5 |
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— |
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164 |
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22 |
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At December 31, 2022 and January 1, 2023 |
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289,065 |
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52,739 |
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42 |
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295 |
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342,141 |
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48,164 |
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Addition |
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— |
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31,082 |
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— |
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1,002 |
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32,084 |
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4,517 |
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Depreciation expenses |
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(12,282 |
) |
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(33,671 |
) |
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(7 |
) |
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(111 |
) |
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(46,071 |
) |
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(6,486 |
) |
Disposal of subsidiary |
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(22,782 |
) |
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— |
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— |
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— |
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(22,782 |
) |
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(3,207 |
) |
Disposal |
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(5,564 |
) |
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— |
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— |
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— |
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(5,564 |
) |
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(783 |
) |
Termination |
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— |
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(1,382 |
) |
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— |
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— |
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(1,382 |
) |
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(195 |
) |
Translation difference |
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— |
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18 |
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1 |
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— |
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19 |
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3 |
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At December 31, 2023 |
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248,437 |
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48,786 |
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36 |
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1,186 |
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298,445 |
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42,013 |
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| Set out below are the carrying amounts of lease liabilities and the movements during the year:
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At January 1 |
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40,531 |
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59,641 |
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8,396 |
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Additions |
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49,735 |
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32,084 |
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4,517 |
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Accretion of interest (Note 7.3) |
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1,547 |
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1,969 |
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277 |
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Payments |
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(26,144 |
) |
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(43,073 |
) |
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(6,063 |
) |
Termination |
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(6,187 |
) |
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(1,382 |
) |
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(195 |
) |
Translation difference |
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159 |
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42 |
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6 |
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At December 31 |
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59,641 |
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49,281 |
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6,938 |
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Current (Note 25) |
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31,433 |
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33,272 |
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4,684 |
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28,208 |
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16,009 |
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2,254 |
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Total |
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59,641 |
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49,281 |
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6,938 |
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| The following are the amounts recognized in profit of loss:
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Depreciation charge for assets |
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43,129 |
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46,071 |
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6,486 |
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Interest expenses on lease liabilities (Note 7.3) |
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1,547 |
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1,969 |
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277 |
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Expenses relating to short-term leases (included in selling, general and administrative expenses and research and development expenses) |
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25,022 |
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18,275 |
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2,573 |
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Total amount recognized in profit or loss |
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69,698 |
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66,315 |
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9,336 |
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| In 2023, the Group had total cash outflows for leases of RMB 61.3 million (US$ 8.6 million) (2022: RMB 51.2 million). The Group also had non-cash additions to assets and lease liabilities of RMB 32.1 million (US$ 4.5 million) in 2023 (2022: RMB 49.7 million). The future cash outflows relating to leases that have not yet commenced are disclosed in Note 30. The Group has entered into operating leases on some of its assets, including surplus offices and warehouses. These leases have terms between 1 to 20 years. Rental income recognized by the Group during the year is RMB 25.8 million (US$ 3.6 million) (2022: RMB 18.1 million). Future minimum rental receivables under non-cancellable operating leases as of 31 December are as follows:
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Within 1 year |
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- related parties |
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17 |
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2,012 |
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|
283 |
|
- joint venture |
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1,587 |
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3,329 |
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469 |
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- third parties |
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8,136 |
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7,898 |
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1,112 |
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After 1 year but within 5 years |
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- related parties |
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17 |
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7,988 |
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1,125 |
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- joint venture |
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6,292 |
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11,697 |
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1,647 |
|
- third parties |
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19,364 |
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22,235 |
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3,130 |
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More than 5 years |
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- joint venture |
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9,690 |
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7,504 |
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1,056 |
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- third parties |
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26,566 |
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34,523 |
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4,860 |
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71,669 |
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97,186 |
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13,682 |
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