Accounts receivable net

12 Months Ended

Dec. 31, 2023

Accounts receivable, net

Note 4: Accounts receivable, net

Accounts receivable, net consisted of the following at December 31,:

	2023		2022
	US$’000		US$’000
Contract receivables		2,864		1,614
Less: allowance for doubtful accounts		-		(28	)
		2,864		1,586

The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:

	2023			2022
	US$’000			US$’000
Balance at beginning of period		28			30
Less : reversal in allowances		(28	)		(2	)
Balance at end of period		-			28

The following is an aging analysis of accounts receivable, net at December 31:

	2023		2022
	US$’000		US$’000
Current		1,175		710
Past due
1-30 days		603		477
31-60 days		548		311
61-90 days		341		32
Greater than or equal to 91 days		197		56
		1,689		876
		2,864		1,586

ZHEJIANG TIANLAN

Accounts receivable, net

4. Accounts receivable, net

Accounts receivable, net consisted of the following at December 31:

	2023			2022
	RMB’000			RMB’000
Contract receivables		157,879			175,792
Less: allowance for doubtful accounts		(29,644	)		(40,019	)
		128,235			135,773

The roll-forward of activity in the allowance for doubtful accounts was as follows for the years ended December 31:

	2023			2022
	RMB’000			RMB’000
Balance at beginning of year		40,019			42,867
Add: provision for allowances		10,376			822
Less: reversal of provision for doubtful accounts		(677	)		(983	)
Less: write-off of doubtful accounts		(20,074	)		(2,687	)
Balance at end of year		29,644			40,019

The following is an aging analysis of accounts receivable, net at December 31:

	2023		2022
	RMB’000		RMB’000
Within 1 year		92,014		111,436
1 year -  2 years		31,499		12,236
2 years - 3 years		3,140		1,437
3 years - 4 years		699		6,132
4 years - 5 years		883		4,532
		128,235		135,773

At December 31, 2023, the accounts receivable, net pledged as security for the Company’s bank loans and third party loans amounted to RMB Nil (2022: RMB Nil).