INVESTMENTS IN ASSOCIATES (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of associates [abstract]

Schedule of investments in associates

	2020		2021
	RMB’000		RMB’000
Share of net assets		196,848		225,338
Less: provision for impairment		—		—
		196,848		225,338

Schedule of movement of investments in associates

The movement of investments in associates of the Group during the year is as follows:

	2019			2020		2021
	RMB’000			RMB’000		RMB’000
Beginning of the year		181,725			174,686		196,848
Share of results after tax		(7,039	)		22,162		18,144
Equity dilution (a)		—			—		10,346
End of the year		174,686			196,848		225,338

Schedule of principal associates

Name of the entity	Percentage of equity interest attributable to the Company	Paid-in capital		Principal activities
Guangzhou Tiecheng Enterprise Company Limited (“Tiecheng”)	49%		RMB343,050,000	Properties leasing and trading of merchandise
Shenzhen Guangzhou Railway Civil Engineering Company (“Shentu”) (a)	24.42%		RMB206,670,000	Construction of railroad properties

Schedule of summarized balance sheets of associates

	Tiecheng				Shentu
	2020		2021		2020		2021
	RMB’000		RMB’000		RMB’000		RMB’000
Current assets		93,571		112,241		1,974,930		3,311,999
Non-current assets		373,860		367,349		10,209		31,500
Total assets		467,431		479,590		1,985,139		3,343,499
Current liabilities		221,928		219,973		1,828,909		2,941,676
Equity		245,503		259,617		156,230		401,823
Share of net assets		120,296		127,213		76,552		98,125
Carrying amount of interest in associates		120,296		127,213		76,552		98,125

Schedule of summarized comprehensive income statements of associates

	Tiecheng							Shentu
	2019			2020		2021		2019		2020		2021
	RMB’000			RMB’000		RMB’000		RMB’000		RMB’000		RMB’000
Revenue		45,673			43,241		46,371		1,222,250		1,519,711		3,039,786
Net profit/(loss)		(23,350	)		29,202		14,114		8,986		16,027		54,062
Total comprehensive income/(loss) for the year		(23,350	)		29,202		14,114		8,986		16,027		54,062

Schedule of reconciliation of summarized financial information

	Tiecheng									Shentu									Total
	2019			2020			2021			2019			2020			2021			2019			2020		2021
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000			RMB’000			RMB’000			RMB’000		RMB’000
Opening net assets		239,651			216,301			245,503			131,217			140,203			156,230			370,868			356,504		401,733
(Loss)/profit for the year		(23,350	)		29,202			14,114			8,986			16,027			54,062			(14,364	)		45,229		68,176
Increase in net assets arising from capital injection by other shareholder (a)		—			—			—			—			—			191,531			—			—		191,531
Closing net assets		216,301			245,503			259,617			140,203			156,230			401,823			356,504			401,733		661,440
Percentage of ownership interest		49.00	%		49.00	%		49.00	%		49.00	%		49.00	%		24.42	%		—			—		—
Carrying value		105,987			120,296			127,213			68,699			76,552			98,125			174,686			196,848		225,338